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Granite Ridge Resources, Inc(GRNT)Earnings, Financials & Key Ratios
GRNT•NYSE
$5.59
$737M mkt cap·31.1× P/E·Price updated May 7, 2026
AboutGranite Ridge Resources, Inc. manages private funds with interests in areas of the Midland, Delaware, Bakken, Eagle Ford, DJ, and Haynesville play. It invests in oil and gas exploration and production. The company is based in Dallas, Texas.Show more
- Revenue$450M+18.5%
- EBITDA$307M+30.1%
- Net Income$24M+29.8%
- EPS (Diluted)0.18+28.6%
- Gross Margin27.13%-14.1%
- EBITDA Margin68.14%+9.8%
- Operating Margin20.24%+29.8%
- Net Margin5.41%+9.6%
- ROE3.92%+36.7%
- ROIC9.5%+71.2%
- Debt/Equity0.03-91.0%
- Interest Coverage3.57+52.0%
GRNT Key Insights
Granite Ridge Resources, Inc (GRNT) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 38.9%
- ✓Healthy 5Y average net margin of 24.2%
- ✓Trading at only 1.2x book value
✗Weaknesses
- ✗Negative free cash flow
- ✗Dividend payout exceeds 100% of earnings
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
GRNT Price & Volume
Granite Ridge Resources, Inc (GRNT) stock price & volume — 10-year historical chart
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GRNT Growth Metrics
Granite Ridge Resources, Inc (GRNT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years38.9%
3 Years-3.26%
TTM-20.92%
Profit CAGR
10 Years-
5 Years-
3 Years-54.72%
TTM-363.18%
EPS CAGR
10 Years-
5 Years-
3 Years-54.96%
TTM-367.67%
Return on Capital
10 Years16.85%
5 Years23.94%
3 Years8.97%
Last Year8.97%
GRNT Recent Earnings
Granite Ridge Resources, Inc (GRNT) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 4/12 qtrs (40%)
Q2 2026Latest
Mar 5, 2026EPS
$0.01
Est $0.10
-90.0%
Revenue
$105M
Est $117M
-9.9%
Q4 2025
Nov 6, 2025EPS
$0.09
Est $0.14
-35.7%
Revenue
$113M
Est $121M
-6.7%
Q3 2025
Aug 7, 2025EPS
$0.11
Est $0.13
-15.4%
Revenue
$109M
Est $113M
-3.5%
Q2 2025
May 8, 2025EPS
$0.22
Est $0.20
+10.0%
Revenue
$123M
Est $110M
+12.1%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 5, 2026 | $0.01vs $0.10-90.0% | $105Mvs $117M-9.9% |
| Q4 2025 | Nov 6, 2025 | $0.09vs $0.14-35.7% | $113Mvs $121M-6.7% |
| Q3 2025 | Aug 7, 2025 | $0.11vs $0.13-15.4% | $109Mvs $113M-3.5% |
| Q2 2025 | May 8, 2025 | $0.22vs $0.20+10.0% | $123Mvs $110M+12.1% |
Based on last 12 quarters of dataView full earnings history →
GRNT Peer Comparison
Granite Ridge Resources, Inc (GRNT) competitors in Non-operated working interest aggregators — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 VTLE | 693.32M | 17.92 | -3.78 | 26.15% | -69.28% | -74.84% | 0.95 | |
 CIVI | 2.34B | 27.38 | 3.24 | 49.76% | 13.56% | 9.55% | 0.68 | |
 BATL | 47.07M | 2.86 | -1.28 | -14.92% | 7.2% | 14.53% | ||
 TPVG | 242.54M | 5.99 | 4.91 | 36.55% | -3.39% | 1.33 | ||
 DMLP | 1.26B | 26.08 | 21.73 | -5.38% | 40.85% | 22.11% | 0.00 | |
 BSM | 2.83B | 13.35 | 10.43 | -3.89% | 63.48% | 35.46% | 0.14 | |
 VNOM | 17.62B | 46.98 | -97.88 | 56.56% | -2.88% | -0.46% | 0.21 | |
 TPL | 27.53B | 399.36 | 57.30 | 13.09% | 60.03% | 35.52% | 0.02 |
Compare GRNT vs Peers
Granite Ridge Resources, Inc (GRNT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
GRNT Income Statement
Granite Ridge Resources, Inc (GRNT) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 87.1M | 290.19M | 497.42M | 394.07M | 380.03M | 450.31M | 327.38M |
| Revenue Growth % | - | 233.18% | 71.41% | -20.78% | -3.56% | 18.49% | -20.92% |
| Cost of Goods Sold | 107.01M | 139.06M | 181.05M | 248.89M | 260M | 328.16M | 263.34M |
| COGS % of Revenue | 122.86% | 47.92% | 36.4% | 63.16% | 68.41% | 72.87% | - |
| Gross Profit | -19.91M▲ 0% | 151.13M▲ 859.1% | 316.37M▲ 109.3% | 145.18M▼ 54.1% | 120.03M▼ 17.3% | 122.15M▲ 1.8% | 64.03M▲ 0% |
| Gross Margin % | -22.86% | 52.08% | 63.6% | 36.84% | 31.59% | 27.13% | 19.56% |
| Gross Profit Growth % | - | 859.08% | 109.33% | -54.11% | -17.32% | 1.76% | - |
| Operating Expenses | 15.19M | 7.9M | 14.22M | 54.59M | 60.78M | 31.01M | 128.84M |
| OpEx % of Revenue | 17.43% | 2.72% | 2.86% | 13.85% | 15.99% | 6.89% | - |
| Selling, General & Admin | 10.11M | 10.18M | 14.22M | 27.92M | 24.65M | 31.01M | 32.63M |
| SG&A % of Revenue | 11.61% | 3.51% | 2.86% | 7.09% | 6.49% | 6.89% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 5.08M | -2.28M | 0 | 26.67M | 36.13M | 0 | 1.12M |
| Operating Income | -35.09M▲ 0% | 143.23M▲ 508.1% | 302.14M▲ 110.9% | 90.59M▼ 70.0% | 59.26M▼ 34.6% | 91.14M▲ 53.8% | 63.45M▲ 0% |
| Operating Margin % | -40.29% | 49.36% | 60.74% | 22.99% | 15.59% | 20.24% | 19.38% |
| Operating Income Growth % | - | 508.13% | 110.95% | -70.02% | -34.59% | 53.81% | - |
| EBITDA | 44.85M | 237.89M | 407.9M | 251.25M | 235.78M | 306.84M | 230.71M |
| EBITDA Margin % | 51.5% | 81.98% | 82% | 63.76% | 62.04% | 68.14% | 70.47% |
| EBITDA Growth % | - | 430.4% | 71.46% | -38.4% | -6.15% | 30.14% | -13.34% |
| D&A (Non-Cash Add-back) | 79.95M | 94.66M | 105.75M | 160.66M | 176.53M | 215.7M | 167.26M |
| EBIT | -22.09M | 110.84M | 277.18M | 110.9M | 43.44M | 91.14M | 72.53M |
| Net Interest Income | -1.84M | -2.38M | -1.99M | -5.32M | -18.47M | -25.5M | -20.48M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.84M | 2.38M | 1.99M | 5.32M | 18.47M | 25.5M | 10.17M |
| Other Income/Expense | 11.16M | -34.77M | -26.95M | 14.99M | -34.29M | -59.02M | -104.69M |
| Pretax Income | -23.93M▲ 0% | 108.46M▲ 553.2% | 275.19M▲ 153.7% | 105.58M▼ 61.6% | 24.97M▼ 76.4% | 32.11M▲ 28.6% | -41.24M▲ 0% |
| Pretax Margin % | -27.47% | 37.37% | 55.32% | 26.79% | 6.57% | 7.13% | -12.6% |
| Income Tax | 0 | 0 | 12.85M | 24.48M | 6.21M | 7.76M | -8.75M |
| Effective Tax Rate % | 0% | 0% | 4.67% | 23.19% | 24.86% | 24.17% | 21.22% |
| Net Income | -23.93M▲ 0% | 108.46M▲ 553.2% | 262.34M▲ 141.9% | 81.1M▼ 69.1% | 18.76M▼ 76.9% | 24.35M▲ 29.8% | -32.49M▲ 0% |
| Net Margin % | -27.47% | 37.37% | 52.74% | 20.58% | 4.94% | 5.41% | -9.92% |
| Net Income Growth % | - | 553.23% | 141.88% | -69.09% | -76.87% | 29.82% | -363.18% |
| Net Income (Continuing) | -23.93M | 108.46M | 262.34M | 81.1M | 18.76M | 24.35M | -32.49M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.18▲ 0% | 0.82▲ 555.6% | 1.97▲ 140.2% | 0.61▼ 69.0% | 0.14▼ 77.0% | 0.18▲ 28.6% | -0.25▲ 0% |
| EPS Growth % | - | 555.56% | 140.24% | -69.04% | -77.05% | 28.57% | -367.67% |
| EPS (Basic) | -0.18 | 0.82 | 1.97 | 0.61 | 0.14 | 0.18 | - |
| Diluted Shares Outstanding | 133.29M | 132.92M | 133.07M | 133.11M | 130.23M | 130.48M | 130.62M |
| Basic Shares Outstanding | 133.29M | 132.92M | 132.92M | 133.09M | 130.19M | 130.48M | 130.62M |
| Dividend Payout Ratio | - | 47.11% | 4.06% | 72.24% | 306.49% | 236.87% | - |
GRNT Balance Sheet
Granite Ridge Resources, Inc (GRNT) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 20.38M | 98.08M | 146.32M | 151.55M | 135.22M | 118.88M | 144.11M |
| Cash & Short-Term Investments | 2.64M | 11.85M | 50.83M | 60.86M | 41.2M | 25.81M | 30.06M |
| Cash Only | 2.64M | 11.85M | 50.83M | 10.43M | 9.42M | 14.85M | 30.06M |
| Short-Term Investments | 0 | 0 | 0 | 50.43M | 31.78M | 10.96M | 0 |
| Accounts Receivable | 9.5M | 47.3M | 72.29M | 72.93M | 69.69M | 74.17M | 0 |
| Days Sales Outstanding | 39.81 | 59.49 | 53.04 | 67.55 | 66.94 | 60.12 | 62.85 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 8.24M | 1.11M | 14.29M | 12.83M | 4.37M | 18.91M | 114.05M |
| Total Non-Current Assets | 172.48M | 449.17M | 648.46M | 775.55M | 901.26M | 1.07B | -135.38M |
| Property, Plant & Equipment | 172.48M | 448.77M | 644.99M | 769.54M | 896.97M | 1.04B | 1.04B |
| Fixed Asset Turnover | 0.50x | 0.65x | 0.77x | 0.51x | 0.42x | 0.43x | 0.32x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 31K | 0 | 0 | 0 | 3.74M | 3.74M |
| Other Non-Current Assets | 0 | 362K | 3.47M | 6.01M | 4.29M | 5.89M | -1.13B |
| Total Assets | 192.86M▲ 0% | 547.25M▲ 183.7% | 794.78M▲ 45.2% | 927.1M▲ 16.6% | 1.04B▲ 11.8% | 1.19B▲ 15.1% | 8.73M▲ 0% |
| Asset Turnover | 0.45x | 0.53x | 0.63x | 0.43x | 0.37x | 0.38x | 0.38x |
| Asset Growth % | - | 183.75% | 45.23% | 16.65% | 11.8% | 15.09% | -63.61% |
| Total Current Liabilities | 4.03M | 67.6M | 64.13M | 62.08M | 101.81M | 95.18M | 155.73M |
| Accounts Payable | 0 | 0 | 0 | 20.04M | 26.44M | 21.33M | 0 |
| Days Payables Outstanding | - | - | - | 29.38 | 37.12 | 23.73 | 33.52 |
| Short-Term Debt | 0 | 50M | 0 | 0 | 0 | 17.5M | 26.25M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 213.09K | 17.6M | 1.95M | 1.2M | 75.37M | 56.35M | 129.48M |
| Current Ratio | 5.05x | 1.45x | 2.28x | 2.44x | 1.33x | 1.25x | 1.25x |
| Quick Ratio | 5.05x | 1.45x | 2.28x | 2.44x | 1.33x | 1.25x | 1.25x |
| Cash Conversion Cycle | - | - | - | - | - | - | 29.33 |
| Total Non-Current Liabilities | 10.4M | 4.72M | 66.4M | 193.38M | 299.32M | 491.94M | 336.79M |
| Long-Term Debt | 9.9M | 1.1M | 0 | 110M | 205M | 367.83M | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 112.14M | 185.82M |
| Other Non-Current Liabilities | 503.54K | 3.62M | 66.4M | 83.38M | 94.32M | 11.97M | 487.78M |
| Total Liabilities | 14.43M | 72.32M | 130.53M | 255.46M | 401.13M | 587.12M | 492.51M |
| Total Debt | 9.9M | 51.1M | 0 | 110M | 205M | 17.5M | 26.25M |
| Net Debt | 7.26M | 39.25M | -50.83M | 99.57M | 195.58M | 2.65M | -3.81M |
| Debt / Equity | 0.06x | 0.11x | - | 0.16x | 0.32x | 0.03x | 0.03x |
| Debt / EBITDA | 0.22x | 0.21x | - | 0.44x | 0.87x | 0.06x | 0.11x |
| Net Debt / EBITDA | 0.16x | 0.16x | -0.12x | 0.40x | 0.83x | 0.01x | 0.01x |
| Interest Coverage | -12.00x | 46.48x | 139.36x | 20.86x | 2.35x | 3.57x | 7.13x |
| Total Equity | 178.43M▲ 0% | 474.93M▲ 166.2% | 664.25M▲ 39.9% | 671.64M▲ 1.1% | 635.35M▼ 5.4% | 605.76M▼ 4.7% | 545.64M▲ 0% |
| Equity Growth % | - | 166.17% | 39.86% | 1.11% | -5.4% | -4.66% | -24.2% |
| Book Value per Share | 1.34 | 3.57 | 4.99 | 5.05 | 4.88 | 4.64 | 4.18 |
| Total Shareholders' Equity | 178.43M | 474.93M | 664.25M | 671.64M | 635.35M | 605.76M | 545.64M |
| Common Stock | 178.43M | 0 | 13K | 14K | 14K | 14K | 14K |
| Retained Earnings | 0 | 0 | 32.39M | 54.78M | 16.05M | -17.29M | -78.78M |
| Treasury Stock | 0 | 0 | -229K | -36.33M | -36.18M | -36.2M | 0 |
| Accumulated OCI | 0 | 474.93M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
GRNT Cash Flow Statement
Granite Ridge Resources, Inc (GRNT) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | 66.81M | 181.18M | 346.39M | 302.87M | 275.73M | 296.41M | 296.41M |
| Operating CF Margin % | 76.7% | 62.43% | 69.64% | 76.86% | 72.56% | 65.83% | - |
| Operating CF Growth % | - | 171.2% | 91.18% | -12.56% | -8.96% | 7.5% | -3.02% |
| Net Income | -23.93M | 108.46M | 262.34M | 81.1M | 18.76M | 24.35M | -32.49M |
| Depreciation & Amortization | 79.95M | 94.71M | 105.75M | 160.66M | 3.54M | 2.21M | 112.94M |
| Stock-Based Compensation | 0 | 0 | 0 | 2.16M | 2.3M | 3.76M | 5.84M |
| Deferred Taxes | 0 | 0 | 12.85M | 24.27M | 5.96M | 7.38M | -1.73M |
| Other Non-Cash Items | 4.09M | 4.9M | -17.32M | 30.03M | 244.32M | 253.17M | 141.06M |
| Working Capital Changes | 6.7M | -26.89M | -17.24M | 4.64M | 860K | 5.55M | 13.57M |
| Change in Receivables | 5.53M | -28.6M | -24.99M | -743K | 3.47M | -4.45M | 7.19M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 9.56M | 8.71M |
| Cash from Investing | -116.74M | -186.02M | -230.56M | -356.68M | -310.77M | -409.81M | -378.46M |
| Capital Expenditures | -117.39M | -219.29M | -49.19M | -76.81M | 0 | 0 | -188.76M |
| CapEx % of Revenue | 134.78% | 75.57% | 9.89% | 19.49% | 91.31% | 93.11% | - |
| Acquisitions | 0 | 0 | -1.9M | 0 | 2.58M | 0 | 55K |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 647K | 33.26M | -179.47M | -279.87M | -316.81M | -414.8M | -199.73M |
| Cash from Financing | 52.07M | 8.49M | -76.85M | 13.41M | 33.72M | 118.82M | 113.73M |
| Debt Issued (Net) | -18M | 12.6M | -51.1M | 110M | 95M | 176.52M | 131.52M |
| Equity Issued (Net) | 0 | 0 | 6.61M | -35.35M | -442K | -16K | 0 |
| Dividends Paid | 0 | -51.09M | -10.66M | -58.59M | -57.49M | -57.69M | -57.76M |
| Share Repurchases | 0 | 0 | -216K | -35.35M | -442K | -16K | 0 |
| Other Financing | 70.07M | 46.98M | -21.69M | -2.66M | -3.34M | 0 | 39.97M |
| Net Change in Cash | 2.13M▲ 0% | 3.65M▲ 70.9% | 38.98M▲ 969.1% | -40.4M▼ 203.7% | -1.31M▲ 96.8% | 5.43M▲ 514.0% | 13.95M▲ 0% |
| Free Cash Flow | -50.58M▲ 0% | -38.1M▲ 24.7% | 111.7M▲ 393.1% | -56.33M▼ 150.4% | -71.26M▼ 26.5% | -122.84M▼ 72.4% | -39.17M▲ 0% |
| FCF Margin % | -58.08% | -13.13% | 22.46% | -14.3% | -18.75% | -27.28% | -11.96% |
| FCF Growth % | - | 24.67% | 393.14% | -150.43% | -26.5% | -72.39% | 57.86% |
| FCF per Share | -0.38 | -0.29 | 0.84 | -0.42 | -0.55 | -0.94 | -0.94 |
| FCF Conversion (FCF/Net Income) | -2.79x | 1.67x | 1.32x | 3.73x | 14.70x | 12.17x | 1.21x |
| Interest Paid | 1.26M | 1.64M | 2.29M | 4.83M | 14.47M | 0 | 0 |
| Taxes Paid | 0 | 0 | 98K | 742K | 197K | 0 | 0 |
GRNT Key Ratios
Granite Ridge Resources, Inc (GRNT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 33.2% | 46.06% | 12.14% | 2.87% | 3.92% | -5.33% |
| Return on Invested Capital (ROIC) | 30.7% | 40.19% | 9.81% | 5.55% | 9.5% | 9.5% |
| Gross Margin | 52.08% | 63.6% | 36.84% | 31.59% | 27.13% | 19.56% |
| Net Margin | 37.37% | 52.74% | 20.58% | 4.94% | 5.41% | -9.92% |
| Debt / Equity | 0.11x | - | 0.16x | 0.32x | 0.03x | 0.03x |
| Interest Coverage | 46.48x | 139.36x | 20.86x | 2.35x | 3.57x | 7.13x |
| FCF Conversion | 1.67x | 1.32x | 3.73x | 14.70x | 12.17x | 1.21x |
| Revenue Growth | 233.18% | 71.41% | -20.78% | -3.56% | 18.49% | -20.92% |
GRNT SEC Filings & Documents
Granite Ridge Resources, Inc (GRNT) SEC filings — annual & quarterly reports (10-K, 10-Q)
GRNT Frequently Asked Questions
Granite Ridge Resources, Inc (GRNT) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Granite Ridge Resources, Inc (GRNT) reported $327.4M in revenue for fiscal year 2025. This represents a 276% increase from $87.1M in 2020.
Granite Ridge Resources, Inc (GRNT) grew revenue by 18.5% over the past year. This is strong growth.
Granite Ridge Resources, Inc (GRNT) reported a net loss of $32.5M for fiscal year 2025.
Dividend & Returns
Yes, Granite Ridge Resources, Inc (GRNT) pays a dividend with a yield of 7.91%. This makes it attractive for income-focused investors.
Granite Ridge Resources, Inc (GRNT) has a return on equity (ROE) of 3.9%. This is below average, suggesting room for improvement.
Granite Ridge Resources, Inc (GRNT) had negative free cash flow of $39.2M in fiscal year 2025, likely due to heavy capital investments.
Explore More GRNT
Granite Ridge Resources, Inc (GRNT) financial analysis — history, returns, DCA and operating performance tools
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Revenue History
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Valuation
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