Granite Ridge Resources, Inc. GRNT

Energy SIC 1311 - Crude Petroleum & Natural Gas NAICS Mining, Quarrying, and Oil and Gas Extraction › Oil and Gas Extraction derived NYSE

In this "Business" section, unless otherwise specified or the context otherwise requires, "Granite Ridge," the "Company," "we," "us," and "our" refer to Granite Ridge Resources, Inc. and its consolidated subsidiaries. The following discussion of our business should be read in conjunction with the accompanying audited consolidated financial statements and related notes included elsewhere in this Annual Report.

Granite Ridge is a scaled energy company which aims to provide shareholders with exposure similar to energy private equity through operated partnerships and traditional non-operated assets. We own assets in six prolific unconventional basins across the United States. We aim to deliver a diversified portfolio with best-in-class full cycle returns by investing in a large number of high-graded opportunities developed by proven public and private operators. We focus on success as measured by total shareholder returns, which we seek to balance with a low leverage profile.

Last close 5.86 2026-10-23
Market cap $772.9M 2026-06-30 share count
52-week range 4.18 - 6.14

Valuation FY2025 figures against the last close

P/S1.7x
P/E32.6x
P/FCF2.6x
EV/EBITDA24.9x
Dividend yield7.5%
Diluted EPS0.18

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Revenue $450.3M$380.0M$394.1M$497.4M$290.2M$87.1M—
SG&A $31.0M$24.6M$27.9M$14.2M$10.2M$10.1M—
Total operating expenses $403.9M$320.8M$303.5M$195.3M$147.0M$122.2M—
Operating income $46.4M$59.3M$90.6M$302.1M$143.2M-$35.1M—
Interest expense $25.5M$18.5M$5.3M$2.0M$2.4M$1.8M—
Pre-tax income $32.1M$25.0M$105.6M$275.2M$108.5M-$23.9M—
Income tax $7.8M$6.2M$24.5M$12.8M$0——
Net income $24.4M$18.8M$81.1M$262.3M$108.5M-$23.9M—
EPS, basic 0.180.140.611.970.82-0.18—
EPS, diluted 0.180.140.611.970.82-0.18—
Shares, diluted (wtd. avg.) 130.5M130.2M133.1M133.1M132.9M132.9M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash and equivalents $14.8M$9.4M$10.7M$51.1M$12.2M$8.5M$6.4M
Total current assets $118.9M$135.2M$151.6M$146.3M$98.1M——
Total assets $1.17B$1.04B$927.1M$794.8M$547.2M——
Accounts payable $21.3M$26.4M$20.0M$32.2M———
Short-term debt $17.5M$0——$50.0M——
Total current liabilities $95.2M$101.8M$62.1M$64.1M$67.6M——
Long-term debt $382.5M$205.0M$110.0M$0$1.1M——
Total liabilities $562.3M$401.1M$255.5M$130.5M$72.3M——
Retained earnings -$17.3M$16.0M$54.8M$32.4M———
Total equity $605.8M$635.4M$671.6M$664.2M$474.9M$370.6M$324.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating cash flow $296.4M$275.7M$302.9M$346.4M$181.2M$66.8M—
Stock-based compensation $3.8M$2.3M$2.2M$0$0——
Investing cash flow -$409.8M-$310.8M-$356.7M-$230.6M-$186.0M-$116.7M—
Financing cash flow $118.8M$33.7M$13.4M-$76.8M$8.5M$52.1M—
Dividends paid $57.7M$57.5M$58.6M$10.7M———
Buybacks $16.0K$442.0K$35.4M$216.0K$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 0001928446-26-000011.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2020: 87.1M Net income, FY2020: -23.9M Revenue, FY2021: 290.2M Net income, FY2021: 108.5M Revenue, FY2022: 497.4M Net income, FY2022: 262.3M Revenue, FY2023: 394.1M Net income, FY2023: 81.1M Revenue, FY2024: 380M Net income, FY2024: 18.8M Revenue, FY2025: 450.3M Net income, FY2025: 24.4M FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $87.1M $290.2M $497.4M $394.1M $380.0M $450.3M
Gross profit — — — — — — —
Net income — -$23.9M $108.5M $262.3M $81.1M $18.8M $24.4M

Recent filings and events

  • 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
  • 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
  • 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
  • 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
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

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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