What is Granite Ridge Resources' operating income?

Granite Ridge Resources' total operating income in 2025 was $46.42 million, based on the following breakdown: Total Gross Profit: $365.40 million Total Operating Expenses: $318.98 million

Granite Ridge Resources (GRNT) Financials

$5.01 0.00 (-0.08%)

Closing price 03:58 PM Eastern

Extended Trading

$5.00 -0.01 (-0.22%)

As of 04:10 PM Eastern

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Annual Income Statements for Granite Ridge Resources

This table shows Granite Ridge Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-24	108	262	81	19	24
Consolidated Net Income / (Loss)	-24	108	262	81	19	24
Net Income / (Loss) Continuing Operations	-24	108	262	81	19	24
Total Pre-Tax Income	-24	108	275	106	25	32
Total Operating Income	-35	143	302	91	59	46
Total Gross Profit	87	264	453	334	323	365
Total Revenue	87	290	497	394	380	450
Operating Revenue	87	290	497	394	380	450
Total Cost of Revenue	0.00	26	45	61	57	85
Operating Cost of Revenue	-	26	45	61	57	85
Total Operating Expenses	122	121	151	243	263	319
Selling, General & Admin Expense	10	10	14	28	25	31
Marketing Expense	6.66	18	31	28	26	28
Other Operating Expenses / (Income)	100	95	106	161	176	216
Impairment Charge	5.73	0.00	0.00	26	36	45
Total Other Income / (Expense), net	11	-35	-27	15	-34	-14
Interest Expense	1.84	2.39	1.99	5.32	18	26
Interest & Investment Income	-	0.00	-	0.51	-15	-16
Other Income / (Expense), net	13	-32	-25	20	-0.64	27
Income Tax Expense	0.00	0.00	13	24	6.21	7.76
Basic Earnings per Share	($0.18)	$0.82	$1.97	$0.61	$0.14	$0.18
Weighted Average Basic Shares Outstanding	132.92M	132.92M	132.92M	133.09M	130.19M	130.44M
Diluted Earnings per Share	($0.18)	$0.82	$1.97	$0.61	$0.14	$0.18
Weighted Average Diluted Shares Outstanding	132.92M	132.92M	133.07M	133.11M	130.23M	130.50M
Weighted Average Basic & Diluted Shares Outstanding	-	-	133.21M	130.45M	130.81M	131.46M
Cash Dividends to Common per Share	-	-	$0.08	$0.44	$0.44	$0.44

This table shows Granite Ridge Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	18	18	16	5.10	9.05	-12	9.81	25	15	-25	-47
Consolidated Net Income / (Loss)	18	18	16	5.10	9.05	-12	9.81	25	15	-25	-47
Net Income / (Loss) Continuing Operations	18	18	16	5.10	9.05	-12	9.81	25	15	-25	-47
Total Pre-Tax Income	23	22	21	6.78	13	-16	13	33	19	-33	-61
Total Operating Income	33	4.73	20	22	25	-6.92	43	21	20	-36	15
Total Gross Profit	91	78	74	77	81	148	107	89	89	81	99
Total Revenue	108	107	89	91	94	106	123	109	113	105	128
Operating Revenue	108	107	89	91	94	106	123	109	113	105	128
Total Cost of Revenue	17	29	15	14	13	-42	16	20	24	25	30
Operating Cost of Revenue	17	-	15	14	13	-	16	20	24	25	30
Total Operating Expenses	59	73	54	55	56	155	64	68	69	117	84
Selling, General & Admin Expense	5.25	6.08	6.49	6.62	5.59	5.94	7.46	8.52	6.99	8.04	9.08
Marketing Expense	7.79	7.90	5.75	6.88	6.35	7.03	8.37	6.44	6.55	6.20	8.24
Other Operating Expenses / (Income)	44	34	41	42	44	107	48	53	56	58	55
Impairment Charge	0.00	26	0.73	0.00	0.00	36	0.00	0.00	0.00	45	11
Total Other Income / (Expense), net	-9.49	17	1.46	-15	-11	-9.35	-30	12	-0.30	3.71	-76
Interest Expense	1.36	2.41	3.16	5.82	4.82	4.67	5.02	5.91	6.07	8.50	10
Interest & Investment Income	0.00	-	7.78	-8.77	-	3.86	-9.97	-5.80	-	-	6.68
Other Income / (Expense), net	-8.14	19	-3.16	-0.52	-6.48	-8.53	-15	24	5.77	12	-72
Income Tax Expense	5.15	4.42	4.84	1.68	4.33	-4.64	2.88	7.78	4.77	-7.67	-14
Basic Earnings per Share	$0.13	$0.13	$0.12	$0.04	$0.07	($0.09)	$0.07	$0.19	$0.11	($0.19)	($0.36)
Weighted Average Basic Shares Outstanding	134.40M	133.09M	130.14M	130.20M	130.20M	130.19M	130.34M	130.47M	130.47M	130.44M	130.62M
Diluted Earnings per Share	$0.13	$0.13	$0.12	$0.04	$0.07	($0.09)	$0.07	$0.19	$0.11	($0.19)	($0.36)
Weighted Average Diluted Shares Outstanding	134.42M	133.11M	130.16M	130.25M	130.24M	130.23M	130.40M	130.59M	130.51M	130.50M	130.62M
Weighted Average Basic & Diluted Shares Outstanding	133.00M	130.45M	130.74M	130.74M	130.74M	130.81M	131.11M	131.25M	131.25M	131.46M	131.90M
Cash Dividends to Common per Share	$0.11	-	$0.11	$0.11	$0.11	-	$0.11	$0.11	$0.11	-	$0.11

This table details how cash moves in and out of Granite Ridge Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	2.13	3.65	39	-40	-1.31	5.43
Net Cash From Operating Activities	67	181	346	303	276	296
Net Cash From Continuing Operating Activities	67	181	346	303	276	296
Net Income / (Loss) Continuing Operations	-24	108	262	81	19	24
Consolidated Net Income / (Loss)	-24	108	262	81	19	24
Amortization Expense	0.11	0.05	0.16	1.26	3.54	2.21
Non-Cash Adjustments To Reconcile Net Income	84	100	88	192	247	257
Changes in Operating Assets and Liabilities, net	6.70	-27	-4.39	29	6.82	13
Net Cash From Investing Activities	-117	-186	-231	-357	-311	-410
Net Cash From Continuing Investing Activities	-117	-186	-231	-357	-311	-410
Purchase of Property, Plant & Equipment	-99	-136	-185	-282	-286	-301
Acquisitions	-18	-83	-51	-77	-61	-118
Divestitures	0.65	29	4.85	0.06	14	0.18
Sale and/or Maturity of Investments	-	-	0.00	0.00	3.46	4.99
Other Investing Activities, net	0.00	3.82	1.18	2.46	19	4.29
Net Cash From Financing Activities	52	8.49	-77	13	34	119
Net Cash From Continuing Financing Activities	52	8.49	-77	13	34	119
Repayment of Debt	-55	-49	-75	-55	-18	-349
Repurchase of Common Equity	0.00	0.00	-0.22	-35	-0.44	-0.02
Payment of Dividends	-13	-51	-11	-59	-57	-58
Issuance of Debt	37	62	21	163	110	526
Issuance of Common Equity	0.00	0.00	6.83	0.01	0.00	0.00
Other Financing Activities, net	83	47	-18	-0.04	0.00	0.00
Cash Interest Paid	1.26	1.64	2.29	4.83	14	25
Cash Income Taxes Paid	0.07	0.08	0.10	0.74	0.20	0.55

This table details how cash moves in and out of Granite Ridge Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-8.38	4.31	10	-7.24	9.26	-14	6.69	-12	8.09	3.01	15
Net Cash From Operating Activities	57	90	69	64	75	68	76	78	78	65	58
Net Cash From Continuing Operating Activities	57	90	69	64	75	68	76	78	78	65	58
Net Income / (Loss) Continuing Operations	18	18	16	5.10	9.05	-12	9.81	25	15	-25	-47
Consolidated Net Income / (Loss)	18	18	16	5.10	9.05	-12	9.81	25	15	-25	-47
Amortization Expense	0.16	0.77	0.30	2.52	0.35	0.38	0.38	0.42	0.42	0.99	1.32
Non-Cash Adjustments To Reconcile Net Income	59	57	40	56	57	94	74	37	53	93	121
Changes in Operating Assets and Liabilities, net	-20	15	12	0.94	8.32	-14	-7.75	16	9.56	-4.87	-17
Net Cash From Investing Activities	-75	-70	-71	-82	-81	-77	-100	-101	-80	-129	-69
Net Cash From Continuing Investing Activities	-75	-70	-71	-82	-81	-77	-100	-101	-80	-129	-69
Purchase of Property, Plant & Equipment	-55	-45	-70	-66	-58	-92	-67	-98	-69	-68	-60
Acquisitions	-20	-27	-2.63	-18	-31	-10	-35	-10	-12	-61	-9.50
Divestitures	0.06	-	0.00	-	0.18	11	0.12	0.06	-	-	1.23
Other Investing Activities, net	-	2.46	1.28	-	4.03	14	1.30	2.39	0.54	0.06	0.00
Net Cash From Financing Activities	9.29	-16	13	10	16	-4.74	31	10	11	68	26
Net Cash From Continuing Financing Activities	9.29	-16	13	10	16	-4.74	31	10	11	68	26
Repurchase of Common Equity	-5.91	-24	-0.42	-	-	-0.02	-0.02	-	-	-	-0.03
Payment of Dividends	-15	-15	-14	-14	-14	-14	-14	-14	-14	-14	-14
Issuance of Debt	45	45	28	28	30	25	45	50	40	391	40

This table presents Granite Ridge Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	547	795	927	1,036	1,168
Total Current Assets	98	146	152	135	119
Cash & Equivalents	12	51	10	9.42	15
Short-Term Investments	-	0.00	50	32	11
Prepaid Expenses	0.68	4.20	1.72	3.83	2.25
Other Current Assets	86	91	89	90	91
Plant, Property, & Equipment, net	449	645	770	897	1,040
Plant, Property & Equipment, gross	728	1,029	1,237	1,540	1,897
Accumulated Depreciation	279	384	467	643	858
Total Noncurrent Assets	0.39	3.47	6.01	4.29	9.63
Other Noncurrent Operating Assets	0.39	3.47	6.01	4.29	9.63
Total Liabilities & Shareholders' Equity	547	795	927	1,036	1,168
Total Liabilities	72	131	255	401	562
Total Current Liabilities	68	64	62	102	95
Short-Term Debt	50	-	-	0.00	18
Accounts Payable	-	-	61	99	77
Other Current Liabilities	7.28	1.95	1.20	2.37	0.83
Total Noncurrent Liabilities	4.72	66	193	299	467
Long-Term Debt	1.10	0.00	110	205	368
Asset Retirement Reserve & Litigation Obligation	2.96	4.75	9.39	11	12
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	50	74	80	87
Other Noncurrent Operating Liabilities	0.66	12	0.00	3.68	0.00
Total Equity & Noncontrolling Interests	475	664	672	635	606
Total Preferred & Common Equity	475	664	672	635	606
Total Common Equity	475	664	672	635	606
Common Stock	475	632	653	655	659
Retained Earnings	0.00	32	55	16	-17
Treasury Stock	0.00	-0.23	-36	-36	-36

This table presents Granite Ridge Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	0.00	856	873	921	967	990	1,036	1,087	1,105	1,129	1,194
Total Current Assets	0.00	115	104	102	169	151	132	128	109	109	144
Cash & Equivalents	0.00	11	14	6.12	21	14	23	16	3.74	12	30
Short-Term Investments	-	-	-	-	58	49	28	22	11	12	18
Prepaid Expenses	-	2.24	1.35	0.45	2.74	2.48	2.59	4.72	2.30	1.13	1.40
Other Current Assets	0.00	17	89	96	87	85	79	86	92	84	95
Plant, Property, & Equipment, net	0.00	737	766	815	793	835	899	955	989	1,015	1,041
Plant, Property & Equipment, gross	-	1,155	1,218	1,312	1,301	1,384	1,493	1,646	1,734	1,815	1,954
Accumulated Depreciation	0.00	417	452	496	508	549	593	691	744	800	913
Total Noncurrent Assets	0.00	3.31	3.14	2.98	4.79	4.98	4.33	4.09	6.78	4.89	8.73
Other Noncurrent Operating Assets	0.00	3.31	3.14	2.98	4.79	4.98	4.33	4.09	6.78	4.89	8.73
Total Liabilities & Shareholders' Equity	0.00	856	873	921	967	990	1,036	1,087	1,105	1,129	1,194
Total Liabilities	0.00	211	221	270	293	325	375	456	462	485	648
Total Current Liabilities	0.00	72	53	70	66	67	84	107	82	77	156
Short-Term Debt	-	-	-	-	-	-	-	-	-	-	26
Accounts Payable	-	-	-	-	-	-	83	91	78	75	80
Other Current Liabilities	0.00	2.36	1.39	7.85	4.08	5.00	1.23	16	4.07	1.55	49
Total Noncurrent Liabilities	0.00	139	167	201	227	258	291	349	380	408	493
Long-Term Debt	-	25	55	85	138	165	195	250	275	300	400
Asset Retirement Reserve & Litigation Obligation	0.00	5.92	6.05	6.50	9.59	9.96	10	11	11	12	12
Noncurrent Deferred & Payable Income Tax Liabilities	-	102	106	109	79	80	85	83	90	95	74
Other Noncurrent Operating Liabilities	0.00	6.62	0.16	0.48	0.66	2.48	0.68	4.94	3.47	1.06	6.49
Total Equity & Noncontrolling Interests	1,778	645	652	650	674	665	661	631	642	644	546
Total Preferred & Common Equity	1,778	645	652	650	674	665	661	631	642	644	546
Total Common Equity	0.00	645	652	650	674	665	661	631	642	644	546
Common Stock	1,778	593	610	611	654	654	655	656	657	658	661
Retained Earnings	-	54	49	52	57	47	42	11	22	22	-79
Treasury Stock	-	-2.03	-6.21	-13	-36	-36	-36	-36	-36	-36	-36

This table displays calculated financial ratios and metrics derived from Granite Ridge Resources' official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	131,251,278.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	131,251,278.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	0.19
Growth Metrics	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-25	143	288	70	45	35
Return On Investment Capital (ROIC_SIMPLE)	-	-	43.36%	8.90%	5.30%	3.55%
Earnings before Interest and Taxes (EBIT)	-22	111	277	110	59	73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-22	111	277	112	62	76
Valuation Ratios	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-371	189	-38	-34	-131
Efficiency Ratios	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	514	613	721	799	965
Increase / (Decrease) in Invested Capital	0.00	514	99	107	78	166
Book Value per Share	$0.00	$3.57	$5.00	$5.05	$4.86	$4.62
Tangible Book Value per Share	$0.00	$3.57	$5.00	$5.05	$4.86	$4.62
Total Capital	0.00	526	664	782	840	991
Total Debt	0.00	51	0.00	110	205	385
Total Long-Term Debt	0.00	1.10	0.00	110	205	368
Net Debt	0.00	39	-51	49	164	360
Capital Expenditures (CapEx)	99	136	185	282	286	301
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	69	31	29	-7.79	15
Debt-free Net Working Capital (DFNWC)	0.00	80	82	89	33	41
Net Working Capital (NWC)	0.00	30	82	89	33	24
Net Nonoperating Expense (NNE)	-0.64	35	26	-12	26	11
Net Nonoperating Obligations (NNO)	0.00	39	-51	49	164	360
Total Depreciation and Amortization (D&A)	0.11	0.05	0.16	1.26	3.54	2.21
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.97	$0.61	$0.14	$0.18
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	132.92M	133.09M	130.19M	130.44M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.97	$0.61	$0.14	$0.18
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	133.07M	133.11M	130.23M	130.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	133.21M	130.45M	130.81M	131.46M
Normalized Net Operating Profit after Tax (NOPAT)	-21	99	288	90	72	69
Debt Service Ratios	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Granite Ridge Resources' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	131,251,278.00	131,464,915.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	131,251,278.00	131,464,915.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.19	-0.36
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-20.85%	-8.20%	-2.53%	3.53%	-13.22%	-0.46%	38.13%	20.48%	19.77%	-	4.34%
EBITDA Growth	-69.44%	-64.75%	-65.24%	65.84%	49.72%	-161.21%	67.61%	88.35%	38.95%	-	-298.52%
EBIT Growth	-69.63%	-65.80%	-65.74%	49.90%	49.28%	-164.77%	68.32%	108.55%	39.32%	-	-306.01%
NOPAT Growth	-67.31%	-92.75%	-33.58%	1.61%	-34.09%	-228.22%	117.75%	-3.90%	-11.68%	-	-68.39%
Net Income Growth	-77.55%	-69.03%	-55.98%	-41.62%	-49.58%	-166.27%	-39.53%	391.69%	60.40%	-	-579.32%
EPS Growth	-78.33%	-69.77%	-57.14%	-42.86%	-46.15%	-169.23%	-41.67%	375.00%	57.14%	-	-614.29%
Operating Cash Flow Growth	-49.99%	-5.11%	-15.73%	-13.48%	30.97%	-24.37%	10.83%	21.59%	4.13%	-	-23.32%
Free Cash Flow Firm Growth	-1,008.16%	0.00%	73.88%	91.53%	91.61%	19.69%	45.72%	-108.36%	-70.84%	-	9.93%
Invested Capital Growth	0.00%	17.50%	27.71%	10.65%	10.39%	10.87%	15.15%	17.64%	14.37%	-	9.57%
Revenue Q/Q Growth	23.81%	-1.48%	-16.67%	1.86%	3.78%	13.00%	15.64%	-11.15%	3.16%	-	21.59%
EBITDA Q/Q Growth	72.94%	-0.02%	-32.02%	41.09%	56.14%	-140.87%	286.15%	60.35%	-42.69%	-	-140.35%
EBIT Q/Q Growth	73.80%	-2.50%	-31.07%	28.32%	73.09%	-142.30%	279.15%	61.02%	-43.09%	-	-136.02%
NOPAT Q/Q Growth	56.30%	-85.10%	299.98%	9.06%	1.38%	-128.99%	779.24%	-51.87%	-6.83%	-	140.75%
Net Income Q/Q Growth	105.53%	-2.33%	-7.48%	-68.56%	77.49%	-228.37%	184.42%	155.62%	-42.10%	-	-87.65%
EPS Q/Q Growth	85.71%	0.00%	-7.69%	-66.67%	75.00%	-228.57%	177.78%	171.43%	-42.11%	-	-89.47%
Operating Cash Flow Q/Q Growth	-23.12%	58.11%	-23.86%	-6.51%	16.37%	-8.70%	11.58%	2.57%	-0.34%	-	-9.54%
Free Cash Flow Firm Q/Q Growth	-3.90%	85.28%	-38.86%	60.12%	-2.97%	-40.86%	6.16%	-53.08%	15.57%	-	63.30%
Invested Capital Q/Q Growth	5.13%	-1.14%	1.63%	4.75%	4.88%	-0.71%	5.55%	7.02%	1.97%	-	-4.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	84.38%	72.68%	82.61%	84.92%	86.15%	139.67%	86.79%	81.58%	79.06%	-	76.86%
EBITDA Margin	22.72%	23.06%	18.81%	26.05%	39.20%	-14.18%	22.82%	41.19%	22.88%	-	-43.42%
Operating Margin	30.08%	4.43%	22.03%	24.14%	26.24%	-6.51%	34.60%	18.98%	17.39%	-	11.58%
EBIT Margin	22.57%	22.34%	18.48%	23.28%	38.82%	-14.53%	22.52%	40.81%	22.51%	-	-44.46%
Profit (Net Income) Margin	16.56%	16.42%	18.23%	5.63%	9.62%	-10.93%	7.98%	22.96%	12.89%	-	-36.67%
Tax Burden Percent	77.70%	79.89%	77.04%	75.25%	67.65%	71.48%	77.31%	76.33%	75.28%	-	77.53%
Interest Burden Percent	94.46%	92.03%	128.10%	32.13%	36.64%	105.25%	45.86%	73.73%	76.07%	-	106.39%
Effective Tax Rate	22.30%	20.11%	22.96%	24.75%	32.35%	0.00%	22.69%	23.67%	24.72%	-	0.00%
Return on Invested Capital (ROIC)	25.87%	2.09%	10.18%	9.82%	8.81%	-2.28%	14.05%	7.51%	6.84%	-	4.18%
ROIC Less NNEP Spread (ROIC-NNEP)	26.74%	-1,626.72%	-7.17%	-6.06%	1.96%	-8.65%	-3.00%	12.62%	6.74%	-	-15.27%
Return on Net Nonoperating Assets (RNNOA)	-18.71%	2.06%	0.07%	-0.66%	0.33%	-1.41%	-0.62%	3.49%	2.17%	-	-7.66%
Return on Equity (ROE)	7.16%	4.15%	10.25%	9.16%	9.14%	-3.69%	13.43%	11.00%	9.02%	-	-3.48%
Cash Return on Invested Capital (CROIC)	0.00%	-5.67%	-14.87%	-1.70%	-2.87%	-4.45%	-6.32%	-8.86%	-6.56%	-	-7.65%
Operating Return on Assets (OROA)	19.79%	10.22%	7.94%	9.86%	15.10%	-5.63%	9.07%	16.85%	9.38%	-	-17.76%
Return on Assets (ROA)	14.52%	7.52%	7.84%	2.38%	3.74%	-4.23%	3.22%	9.48%	5.37%	-	-14.65%
Return on Common Equity (ROCE)	1.92%	4.15%	10.25%	9.16%	9.14%	-3.69%	13.43%	11.00%	9.02%	-	-3.48%
Return on Equity Simple (ROE_SIMPLE)	18.48%	0.00%	8.97%	8.54%	7.25%	0.00%	1.96%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	25	3.78	15	16	17	-4.84	33	16	15	-26	10
NOPAT Margin	23.37%	3.54%	16.97%	18.17%	17.75%	-4.55%	26.75%	14.49%	13.09%	-	8.10%
Net Nonoperating Expense Percent (NNEP)	-0.87%	1,628.81%	17.35%	15.88%	6.85%	6.37%	17.05%	-5.11%	0.11%	-	19.44%
Return On Investment Capital (ROIC_SIMPLE)	-	0.48%	-	-	-	-0.58%	3.73%	1.73%	1.56%	-2.57%	1.07%
Cost of Revenue to Revenue	15.62%	27.32%	17.39%	15.08%	13.85%	-39.67%	13.21%	18.42%	20.94%	-	23.14%
SG&A Expenses to Revenue	4.84%	5.69%	7.29%	7.31%	5.94%	5.59%	6.07%	7.80%	6.20%	-	7.08%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	54.30%	68.09%	60.58%	60.78%	59.92%	146.18%	52.19%	62.60%	61.67%	-	65.28%
Earnings before Interest and Taxes (EBIT)	24	24	16	21	37	-15	28	45	25	-24	-57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	25	25	17	24	37	-15	28	45	26	-23	-56
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.17	1.10	1.29	1.27	1.20	1.33	1.28	1.32	1.12	-	1.43
Price to Tangible Book Value (P/TBV)	1.17	1.10	1.29	1.27	1.20	1.33	1.28	1.32	1.12	-	1.43
Price to Revenue (P/Rev)	1.88	1.87	2.21	2.14	2.08	2.22	1.96	1.96	1.60	-	1.72
Price to Earnings (P/E)	6.31	9.07	14.33	14.85	16.52	45.05	65.65	26.27	19.08	-	0.00
Dividend Yield	7.21%	7.97%	6.77%	6.95%	7.41%	6.94%	7.24%	6.91%	8.13%	-	7.50%
Earnings Yield	15.85%	11.03%	6.98%	6.73%	6.05%	2.22%	1.52%	3.81%	5.24%	-	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.15	1.09	1.26	1.23	1.16	1.26	1.21	1.23	1.08	-	1.26
Enterprise Value to Revenue (EV/Rev)	2.07	1.99	2.36	2.40	2.46	2.66	2.47	2.56	2.21	-	2.55
Enterprise Value to EBITDA (EV/EBITDA)	5.34	7.03	11.53	10.55	9.19	16.23	13.92	11.73	9.80	-	0.00
Enterprise Value to EBIT (EV/EBIT)	5.36	7.11	11.73	11.01	9.56	17.21	14.64	11.92	9.96	-	0.00
Enterprise Value to NOPAT (EV/NOPAT)	7.12	11.28	14.96	15.40	17.41	22.66	16.72	18.07	16.89	-	88.53
Enterprise Value to Operating Cash Flow (EV/OCF)	2.72	2.59	3.19	3.38	3.14	3.66	3.61	3.73	3.32	-	4.17
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.13	0.16	0.20	0.25	0.30	0.32	0.40	0.43	0.47	-	0.78
Long-Term Debt to Equity	0.13	0.16	0.20	0.25	0.30	0.32	0.40	0.43	0.47	-	0.73
Financial Leverage	-0.70	0.00	-0.01	0.11	0.17	0.16	0.21	0.28	0.32	-	0.50
Leverage Ratio	0.38	1.29	1.38	1.41	1.49	1.50	1.57	1.60	1.66	-	1.94
Compound Leverage Factor	0.36	1.19	1.77	0.45	0.55	1.58	0.72	1.18	1.26	-	2.06
Debt to Total Capital	11.56%	14.07%	16.94%	19.87%	22.79%	24.39%	28.36%	29.97%	31.78%	-	43.86%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	2.70%
Long-Term Debt to Total Capital	11.56%	14.07%	16.94%	19.87%	22.79%	24.39%	28.36%	29.97%	31.78%	-	41.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Common Equity to Total Capital	88.44%	85.93%	83.06%	80.13%	77.21%	75.61%	71.64%	70.03%	68.22%	-	56.14%
Debt to EBITDA	0.54	0.99	1.71	1.84	1.91	3.30	3.40	2.91	2.95	-	-52.65
Net Debt to EBITDA	0.50	0.44	0.73	1.14	1.42	2.64	2.89	2.75	2.72	-	-46.76
Long-Term Debt to EBITDA	0.54	0.99	1.71	1.84	1.91	3.30	3.40	2.91	2.95	-	-49.40
Debt to NOPAT	0.72	1.58	2.22	2.69	3.63	4.60	4.09	4.48	5.08	-	32.51
Net Debt to NOPAT	0.67	0.71	0.95	1.66	2.68	3.68	3.47	4.24	4.68	-	28.87
Long-Term Debt to NOPAT	0.72	1.58	2.22	2.69	3.63	4.60	4.09	4.48	5.08	-	30.50
Altman Z-Score	2.33	2.44	2.45	2.19	1.86	1.64	1.57	1.68	1.43	-	0.84
Noncontrolling Interest Sharing Ratio	73.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.47	2.44	2.55	2.24	1.56	1.33	1.20	1.32	1.41	-	0.93
Quick Ratio	0.09	0.98	1.19	0.94	0.60	0.40	0.35	0.18	0.30	-	0.31
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-704	-104	-144	-57	-59	-83	-78	-120	-101	-192	-70
Operating Cash Flow to CapEx	103.99%	199.27%	98.56%	96.94%	129.90%	73.79%	114.03%	79.79%	113.38%	-	96.64%
Free Cash Flow to Firm to Interest Expense	-518.97	-43.00	-45.54	-9.86	-12.25	-17.80	-15.57	-20.21	-16.63	-	-6.82
Operating Cash Flow to Interest Expense	42.06	37.43	21.73	11.03	15.50	14.59	15.17	13.20	12.82	-	5.65
Operating Cash Flow Less CapEx to Interest Expense	1.61	18.65	-0.32	-0.35	3.57	-5.18	1.87	-3.34	1.51	-	-0.20
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.88	0.46	0.43	0.42	0.39	0.39	0.40	0.41	0.42	-	0.40
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Fixed Asset Turnover	0.00	0.56	0.51	0.49	0.44	0.46	0.47	0.47	0.47	-	0.46
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.22	-	1.15
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,628.38	-	317.24
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1,628.38	-	-317.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	729	721	733	767	805	799	843	903	920	965	924
Invested Capital Turnover	1.11	0.59	0.60	0.54	0.50	0.50	0.53	0.52	0.52	-	0.52
Increase / (Decrease) in Invested Capital	729	107	159	74	76	78	111	135	116	166	81
Enterprise Value (EV)	837	785	925	946	936	1,009	1,023	1,109	998	-	1,161
Market Capitalization	758	735	866	844	792	845	810	849	721	-	782
Book Value per Share	$4.82	$5.05	$5.17	$5.09	$5.05	$4.86	$4.83	$4.90	$4.91	$4.62	$4.15
Tangible Book Value per Share	$4.82	$5.05	$5.17	$5.09	$5.05	$4.86	$4.83	$4.90	$4.91	$4.62	$4.15
Total Capital	735	782	812	830	856	840	881	917	944	991	972
Total Debt	85	110	138	165	195	205	250	275	300	385	426
Total Long-Term Debt	85	110	138	165	195	205	250	275	300	368	400
Net Debt	79	49	59	102	144	164	212	260	277	360	379
Capital Expenditures (CapEx)	55	45	70	66	58	92	67	98	69	68	60
Debt-free, Cash-free Net Working Capital (DFCFNWC)	27	29	24	20	-3.12	-7.79	-17	12	8.43	15	-33
Debt-free Net Working Capital (DFNWC)	33	89	103	83	48	33	21	26	32	41	15
Net Working Capital (NWC)	33	89	103	83	48	33	21	26	32	24	-12
Net Nonoperating Expense (NNE)	7.38	-14	-1.13	11	7.64	6.78	23	-9.25	0.22	-0.44	57
Net Nonoperating Obligations (NNO)	79	49	59	102	144	164	212	260	277	360	379
Total Depreciation and Amortization (D&A)	0.16	0.77	0.30	2.52	0.35	0.38	0.38	0.42	0.42	0.99	1.32
Debt-free, Cash-free Net Working Capital to Revenue	6.57%	7.26%	6.07%	5.14%	-0.82%	-2.05%	-4.06%	2.71%	1.87%	-	-7.26%
Debt-free Net Working Capital to Revenue	8.09%	22.70%	26.23%	21.09%	12.52%	8.79%	5.10%	6.12%	7.06%	-	3.21%
Net Working Capital to Revenue	8.09%	22.70%	26.23%	21.09%	12.52%	8.79%	5.10%	6.12%	7.06%	-	-2.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.13	$0.13	$0.12	$0.04	$0.07	($0.09)	$0.07	$0.19	$0.11	($0.19)	($0.36)
Adjusted Weighted Average Basic Shares Outstanding	134.40M	133.09M	130.14M	130.20M	130.20M	130.19M	130.34M	130.47M	130.47M	130.44M	130.62M
Adjusted Diluted Earnings per Share	$0.13	$0.13	$0.12	$0.04	$0.07	($0.09)	$0.07	$0.19	$0.11	($0.19)	($0.36)
Adjusted Weighted Average Diluted Shares Outstanding	134.42M	133.11M	130.16M	130.25M	130.24M	130.23M	130.40M	130.59M	130.51M	130.50M	130.62M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	133.00M	130.45M	130.74M	130.74M	130.74M	130.81M	131.11M	131.25M	131.25M	131.46M	131.90M
Normalized Net Operating Profit after Tax (NOPAT)	25	25	16	16	17	20	33	16	15	5.75	18
Normalized NOPAT Margin	23.37%	23.36%	17.60%	18.17%	17.75%	18.91%	26.75%	14.49%	13.09%	-	14.20%
Pre Tax Income Margin	21.32%	20.56%	23.67%	7.48%	14.23%	-15.30%	10.32%	30.08%	17.12%	-	-47.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	18.04	9.90	5.21	3.63	7.58	-3.31	5.52	7.54	4.18	-	-5.53
NOPAT to Interest Expense	18.68	1.57	4.78	2.83	3.46	-1.04	6.56	2.68	2.43	-	1.01
EBIT Less CapEx to Interest Expense	-22.40	-8.88	-16.85	-7.76	-4.35	-23.08	-7.79	-9.00	-7.12	-	-11.38
NOPAT Less CapEx to Interest Expense	-21.76	-17.22	-17.27	-8.55	-8.47	-20.81	-6.75	-13.86	-8.87	-	-4.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	45.54%	72.24%	96.42%	102.16%	120.25%	306.49%	466.09%	178.12%	152.49%	-	-177.77%
Augmented Payout Ratio	55.51%	115.83%	96.42%	154.81%	170.35%	308.84%	466.41%	178.25%	152.59%	-	-177.86%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, point-by-point view of Granite Ridge Resources' latest four-year trend across income statements, balance sheets, and cash flow statements, with key drivers and implications for retail investors.

Net income attributable to common shareholders was positive in multiple 2025 quarters (Q1 EPS 0.11, Q2 EPS 0.19, Q3 EPS 0.11). This indicates recent quarterly profitability before the impairment hit in Q4 2025.
Operating cash flow remained robust through 2025, with net cash from continuing operating activities around 75–78 million in Q1–Q3 2025 and about 64.5 million in Q4 2025, supporting liquidity.
Revenue stayed above the 100 million mark in 2025, with quarterly totals such as 122.9 million (Q1 2025), 109.2 million (Q2 2025), 112.7 million (Q3 2025), and 105.5 million (Q4 2025), indicating sustained scale.
Balance sheet shows a solid equity base (roughly 643–646 million) against total assets near 1.1–1.13 billion, and long-term debt around 300 million, yielding a moderate leverage profile (debt to equity near 0.5).
Debt financing activity supported liquidity in late 2025, with a debt issuance of about 391 million and a positive net cash from financing activities (roughly 67.5 million), aiding capital needs.
Free cash flow (operating cash flow minus capital expenditures) is variable. For example, 2025 Q3 produced positive free cash flow, but Q2 and Q4 showed negative free cash flow due to higher capex and acquisitions.
Capital expenditures and acquisitions remain meaningful cash outflows in 2025, contributing to net cash used in investing activities in several quarters.
Impairment charges are material non-cash hits: about 44.65 million in Q4 2025 and 35.64 million in Q4 2024, which depress earnings and reduce asset carrying values.
Net income deteriorated to a quarterly loss in Q4 2025 (-25.06 million), driven by impairment and elevated other expenses, despite earlier profitable quarters in the year.
Other Operating Expenses / (Income) were notably high in some quarters (Q4 2025 about 58.08 million; Q4 2024 about 107.07 million), contributing to higher total expenses and tighter margins.

06/03/26 04:42 PM ETAI Generated. May Contain Errors.

Granite Ridge Resources Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Granite Ridge Resources' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Granite Ridge Resources' net income appears to be on a downward trend, with a most recent value of $24.35 million in 2025, falling from -$23.93 million in 2020. The previous period was $18.76 million in 2024. View Granite Ridge Resources' forecast to see where analysts expect Granite Ridge Resources to go next.

Granite Ridge Resources' total operating income in 2025 was $46.42 million, based on the following breakdown:

Total Gross Profit: $365.40 million
Total Operating Expenses: $318.98 million

Over the last 5 years, Granite Ridge Resources' total revenue changed from $87.10 million in 2020 to $450.31 million in 2025, a change of 417.0%.

Granite Ridge Resources' total liabilities were at $562.31 million at the end of 2025, a 40.2% increase from 2024, and a 677.6% increase since 2021.

In the past 4 years, Granite Ridge Resources' cash and equivalents has ranged from $9.42 million in 2024 to $50.83 million in 2022, and is currently $14.85 million as of their latest financial filing in 2025.

Over the last 5 years, Granite Ridge Resources' book value per share changed from 0.00 in 2020 to 4.62 in 2025, a change of 461.5%.

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Financial statements for NYSE:GRNT last updated on 5/15/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Granite Ridge Resources (GRNT) Financials

Financials Breakdown Chart

Key Financial Trends

Granite Ridge Resources Financials - Frequently Asked Questions

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Granite Ridge Resources (GRNT) Financials

Annual Income Statements for Granite Ridge Resources

Quarterly Income Statements for Granite Ridge Resources

Annual Cash Flow Statements for Granite Ridge Resources

Quarterly Cash Flow Statements for Granite Ridge Resources

Annual Balance Sheets for Granite Ridge Resources

Quarterly Balance Sheets for Granite Ridge Resources

Annual Metrics And Ratios for Granite Ridge Resources

Quarterly Metrics And Ratios for Granite Ridge Resources

Financials Breakdown Chart

Key Financial Trends

Granite Ridge Resources Financials - Frequently Asked Questions

When does Granite Ridge Resources' fiscal year end?

How has Granite Ridge Resources' net income changed over the last 5 years?

What is Granite Ridge Resources' operating income?

How has Granite Ridge Resources' revenue changed over the last 5 years?

How much debt does Granite Ridge Resources have?

How much cash does Granite Ridge Resources have?

How has Granite Ridge Resources' book value per share changed over the last 5 years?

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