BARNWELL INDUSTRIES INC BRN
•Oil and Natural Gas Segment - Barnwell engages in oil and natural gas development, production, acquisitions and sales in Canada and in the U.S.
•Land Investment Segment - Barnwell owns land interests in the State of Hawaii.
On March 14, 2025, the Company entered into and completed the sale of its wholly-owned subsidiary, Water Resources International, Inc. ("Water Resources"). Water Resources drills water wells and installs and repairs water pumping systems in the State of Hawaii and represented Barnwell's contract drilling segment. As a result of the sale, the Company has classified the related assets, liabilities and the results of its contract drilling business as discontinued operations in the consolidated financial statements for all periods presented. Prior to the sale, the Company did not have any assurances that a sale of Water Resources was likely to occur. Unless otherwise noted, the discussions throughout Part I of this Form 10-K pertains only to Barnwell's continuing operations. For information on discontinued operations, refer to Note 3 "Discontinued Operations" in the Notes to Consolidated Financial Statements in Item 8 of this report.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Canada
- United States
| Region | FY2025 | FY2024 |
|---|---|---|
| Canada | $12.5M | $15.2M |
| United States | $1.2M | $2.8M |
As the company reported it, from the “REVENUE FROM CONTRACTS WITH CUSTOMERS - DISAGGREGATION OF REVENUE (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.6M | $18.0M | $25.2M | $28.5M | $18.1M | $18.3M | $12.0M | $9.2M | $13.0M | $13.6M |
| Cost of revenue | — | — | — | — | — | — | — | $3.6M | $3.2M | — |
| Gross profit | — | — | — | — | — | — | — | $5.6M | $9.8M | — |
| SG&A | $6.9M | $5.1M | $7.0M | $8.0M | $7.1M | $5.8M | $5.5M | $6.3M | $7.0M | $6.7M |
| Total operating expenses | $20.7M | $22.8M | $26.9M | $25.4M | $16.4M | $23.4M | $24.4M | $11.6M | $14.1M | $19.8M |
| Operating income | $30.0K | $303.0K | $5.2M | $11.6M | $6.3M | $779.0K | -$6.9M | $3.9M | $5.8M | $542.0K |
| Interest expense | $7.0K | $0 | $2.0K | $1.0K | $13.0K | $3.0K | $5.0K | $7.0K | $6.0K | $97.0K |
| Pre-tax income | -$7.1M | -$3.7M | -$864.0K | $6.5M | $7.5M | -$4.7M | -$12.6M | -$2.0M | $1.2M | -$3.6M |
| Income tax | $71.0K | $213.0K | $53.0K | $347.0K | $332.0K | $3.0K | $231.0K | $601.0K | $1.1M | $722.0K |
| Net income | -$7.1M | -$5.6M | -$961.0K | $5.5M | $6.3M | -$4.8M | -$12.4M | -$1.8M | $1.2M | -$3.6M |
| EPS, basic | -0.71 | -0.56 | -0.10 | 0.57 | 0.73 | -0.57 | -1.50 | -0.21 | 0.14 | -0.44 |
| EPS, diluted | -0.71 | -0.56 | -0.10 | 0.57 | 0.73 | -0.57 | -1.50 | -0.21 | 0.14 | -0.44 |
| Shares, diluted (wtd. avg.) | 10.1M | 10.0M | 10.0M | 9.7M | 8.6M | 8.3M | 8.3M | 8.3M | 8.3M | 8.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.9M | $4.3M | $2.8M | $12.8M | $11.3M | $4.6M | $4.6M | $6.0M | $16.3M | $15.6M |
| Short-term investments | — | — | — | — | — | — | — | $0 | $1.0M | $1.2M |
| Receivables | $913.0K | $1.5M | $2.3M | $4.0M | $2.8M | $1.8M | $1.3M | $1.8M | — | — |
| Total current assets | $5.2M | $8.9M | $9.1M | $20.1M | $18.0M | $9.5M | $8.7M | $12.1M | $25.1M | $21.1M |
| Property, plant and equipment | $9.2M | $16.6M | $21.8M | $13.6M | $490.0K | $1.5M | $8.4M | $16.4M | $5.4M | $6.9M |
| Total assets | $20.8M | $30.7M | $35.4M | $37.2M | $24.4M | $15.2M | $18.3M | $31.4M | $33.0M | $31.6M |
| Accounts payable | $2.2M | $1.8M | $881.0K | $1.5M | $1.4M | $2.1M | $1.2M | $1.2M | $1.2M | $1.4M |
| Short-term debt | — | — | — | — | — | — | — | — | — | $0 |
| Total current liabilities | $4.7M | $7.8M | $6.6M | $8.9M | $5.9M | $6.4M | $4.8M | $3.6M | $4.8M | $4.7M |
| Long-term debt | — | — | $0 | $44.0K | $47.0K | $58.0K | $0 | — | — | — |
| Total liabilities | $13.8M | $17.6M | $16.7M | $18.1M | $14.9M | $17.1M | $17.0M | $15.1M | $14.8M | $17.8M |
| Retained earnings | -$6.5M | $595.0K | $6.2M | $7.7M | $2.4M | -$3.9M | $859.0K | $13.3M | $15.0M | $13.9M |
| Total equity | $7.0M | $13.0M | $18.8M | $19.2M | $9.5M | -$2.0M | $1.3M | $16.2M | $18.2M | $13.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.8M | $5.3M | $1.9M | $7.3M | $831.0K | $750.0K | -$2.1M | -$5.1M | -$2.1M | $1.8M |
| Depreciation and amortisation | $3.1M | $5.0M | $4.5M | $2.8M | $963.0K | $2.1M | $3.0M | $1.1M | $1.2M | $1.6M |
| Stock-based compensation | $372.0K | $208.0K | $263.0K | $657.0K | $643.0K | $0 | — | -$59.0K | $15.0K | -$22.0K |
| Capital expenditure | $254.0K | $4.2M | $12.5M | $13.8M | $3.1M | $3.5M | $1.3M | $13.5M | $807.0K | $996.0K |
| Investing cash flow | -$352.0K | -$2.8M | -$11.2M | -$7.1M | $3.7M | -$833.0K | $905.0K | -$3.9M | $2.9M | $9.4M |
| Financing cash flow | -$168.0K | -$226.0K | -$786.0K | $1.6M | $2.2M | $60.0K | -$110.0K | -$1.1M | -$370.0K | -$4.3M |
| Dividends paid | — | $0 | $599.0K | $149.0K | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-022298.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.6M | $13.0M | $9.2M | $12.0M | $18.3M | $18.1M | $28.5M | $25.2M | $18.0M | $13.6M |
| Gross profit | — | $9.8M | $5.6M | — | — | — | — | — | — | — |
| Net income | -$3.6M | $1.2M | -$1.8M | -$12.4M | -$4.8M | $6.3M | $5.5M | -$961.0K | -$5.6M | -$7.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Other event Item 8.01
- Other event Item 8.01
- Other event Item 8.01
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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