Granite Ridge Resources, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Granite Ridge Resources, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025
Revenue	87.1	290	497	394	380	450
General and administrative	10.1	10.2	14.2	27.9	24.6	31
Operating expenses	122	147	195	303	321	404
Operating income	-35.1	143	302	90.6	59.3	46.4
Interest expense	1.84	2.39	1.99	5.32	18.5	25.5
Other non-operating income	11.2	-34.8	-27	15	-34.3	-14.3
Pre-tax income	-23.9	108	275	106	25	32.1
Income tax		0	12.9	24.5	6.21	7.76
Net income	-23.9	108	262	81.1	18.8	24.4
EPS, basic	-0.18	0.82	1.97	0.61	0.14	0.18
EPS, diluted	-0.18	0.82	1.97	0.61	0.14	0.18
Shares, basic (weighted)	133	133	133	133	130	130
Shares, diluted (weighted)	133	133	133	133	130	131
Dividend per share			0.08	0.44	0.44	0.44

Balance sheet

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	8.51	12.2	51.1	10.7	9.42	14.8
Other current assets		0.07		1.72	3.83	2.25
Total current assets		98.1	146	152	135	119
Property, plant and equipment		278
Other non-current assets		0.36	3.47	4.82	4.29	5.89
Total assets		547	795	927	1,036	1,168
Accounts payable			32.2	20	26.4	21.3
Accrued liabilities		10.3	62.2	60.9
Short-term debt		50			0	17.5
Total current liabilities		67.6	64.1	62.1	102	95.2
Long-term debt		1.1	0	110	205	368
Other non-current liabilities						0
Total liabilities		72.3	131	255	401	562
Total debt		1.1	0	110	205	385
Paid-in capital			632	653	655	659
Retained earnings			32.4	54.8	16	-17.3
Treasury stock			-0.23	-36.3	-36.2	-36.2
Shareholders' equity	371	475	664	672	635	606
Total equity	371	475	664	672	635	606
Total liabilities and equity		547	795	927	1,036	1,168

Cash flow statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025
Net income	-23.9	108	262	81.1	18.8	24.4
Stock-based compensation		0	0	2.16	2.3	3.76
Deferred income tax		0	12.9	24.3	5.96	7.38
Change in receivables	5.53	-28.6	-25	-0.85	3.29	-4.45
Change in payables				4.55	-1.15	9.56
Cash from operations	66.8	181	346	303	276	296
Cash from investing	-117	-186	-231	-357	-311	-410
Debt issued	36.5	62	21	163	110	190
Debt repaid	-54.5	-49.4	-72.1	-52.5	-15	-345
Stock issued		0	6.83	0.01	0	0
Share buybacks		0	-0.22	-35.4	-0.44	-0.02
Dividends paid		0	-10.7	-58.6	-57.5	-57.7
Cash from financing	52.1	8.49	-76.8	13.4	33.7	119
Net change in cash	2.13	3.65	39	-40.4	-1.31	5.43
Interest paid	1.26	1.64	2.29	4.83	14.5	24.7
Income taxes paid		0.08	0.1	0.74	0.2	0.55

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $4.44 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	7.5%	Operating income / revenue.
Pre-tax margin	-7.1%	Pre-tax income / revenue.
Net margin	-5.6%	Net income / revenue.
Operating cash flow margin	51.7%	Cash from operations / revenue.
Return on equity (ROE)	-4.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-2.2%	Net income / average total assets.
Return on invested capital (ROIC)	3.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	18.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	38.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-21.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-46.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	29.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-54.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	28.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-55.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	7.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-5.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	34.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	76.5%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-4.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-3.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	12.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	13.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.02x	Current assets / current liabilities.
Quick ratio	0.29x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.29x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.82x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	37.3%	Total debt / total assets.
Liabilities / assets	54.6%	Total liabilities / total assets.
Net debt	$418.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	1.03x	Operating income / interest expense.
Working capital	$3.6M	Current assets - current liabilities.
Tangible book value	$562.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.40x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.21	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.79	Revenue / diluted weighted shares.
Operating cash flow per share	$1.96	Cash from operations / diluted weighted shares.
Book value per share	$4.30	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.30	Tangible book value / shares outstanding.
Cash per share	$0.34	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$585.6M	Share price x shares outstanding.
Enterprise value	$1.00B	Market cap + total debt - cash - short-term investments.
P/S	1.18x	Market cap / revenue.
P/B	1.04x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.04x	Market cap / tangible book value, when positive.
P/OCF	2.29x	Market cap / cash from operations, when positive.
EV/Sales	2.02x	Enterprise value / revenue.
EV/EBIT	27.1x	Enterprise value / operating income, when both are positive.
Earnings yield	-4.7%	Net income / market cap (the inverse of P/E).
Dividend yield	9.9%	Dividends paid over the period / market cap.
Shareholder yield	9.9%	(Dividends paid + share buybacks) / market cap.

What was Granite Ridge Resources, Inc.'s revenue in fiscal 2025?

Granite Ridge Resources, Inc. reported revenue of $450.3M for fiscal 2025, 18.5% higher than the year before.

Was Granite Ridge Resources, Inc. profitable in fiscal 2025?

Yes. Net income was $24.4M, a net margin of 5.4%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Granite Ridge Resources, Inc.