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GFR

Greenfire Resources Ltd.

GFR

Greenfire Resources Ltd. • NYSE
$4.57 ▼ -3.18% (-0.15)
Market Cap $321.06 M
52w High $7.38
52w Low $3.81
Dividend Yield 0%
P/E 3.81
Volume 189.16K
Outstanding Shares 70.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $138.326M ▼ $5.936M ▼ $-8.862M ▼ -6.406% ▼ $-0.126 ▼ $25.991M ▼
Q2-2025 $144.542M ▼ $50.726M ▼ $48.73M ▲ 33.713% ▲ $0.69 ▲ $88.302M ▲
Q1-2025 $183.637M ▼ $63.965M ▼ $16.163M ▼ 8.802% ▼ $0.23 ▼ $51.944M ▲
Q4-2024 $208.895M ▲ $66.832M ▲ $78.562M ▲ 37.608% ▲ $1.12 ▲ $21.605M ▼
Q3-2024 $193.643M $60.946M $58.916M 30.425% $0.85 $91.937M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $69.98M ▼ $1.285B ▲ $398.479M ▼ $886.993M ▲
Q1-2025 $72.238M ▲ $1.27B ▲ $432.026M ▼ $838.126M ▲
Q4-2024 $67.419M ▲ $1.257B ▲ $436.04M ▲ $821.431M ▲
Q3-2024 $37.709M ▼ $1.164B ▼ $421.375M ▼ $742.384M ▲
Q2-2024 $159.977M $1.247B $565.988M $681.118M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.354M ▼ $35.091M ▲ $-2.203M ▲ $-1.537M ▼ $31.117M ▲ $22.087M ▲
Q2-2025 $48.73M ▲ $17.732M ▼ $-17.951M ▲ $-118K ▲ $-2.258M ▼ $6.892M ▲
Q1-2025 $16.163M ▼ $34.673M ▼ $-27.814M ▼ $-1.937M ▲ $4.819M ▼ $6.859M ▼
Q4-2024 $78.562M ▲ $60.195M ▲ $-24.091M ▼ $-6.742M ▲ $29.71M ▲ $47.71M ▲
Q3-2024 $58.916M $-17.875M $-16.741M $-88.584M $-122.268M $-39.05M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown again after a soft patch, and profitability has improved, suggesting the core operations are becoming more efficient. Margins along the income statement look healthy for an oil sands producer, which points to a relatively low-cost asset base. That said, earnings have been volatile over the past few years, with a swing from profit to loss and back to profit, likely reflecting both commodity price swings and one‑time items around the SPAC and asset transactions. The recent return to solid profitability is a clear positive, but the history of ups and downs means results could still fluctuate meaningfully with oil prices and development spending.

Balance Sheet

Balance Sheet The balance sheet shows a business that is capital intensive but reasonably balanced between debt and equity. Total assets have grown only gradually, which fits a company focused on squeezing more out of existing facilities rather than large new builds so far. Debt looks moderate relative to the size of the company, though not trivial, so balance sheet strength will depend on maintaining cash flow if oil prices weaken. Cash on hand is relatively small, which keeps pressure on management to keep operations running smoothly and to time growth projects carefully.

Cash Flow

Cash Flow Operating cash flow has been consistently positive and has generally trended upward, a good sign that reported profits are backed by real cash generation. Free cash flow has also been positive in most years, even after funding the capital needed to sustain and modestly grow production. Recent years show a step-up in investment spending, which suggests the company is leaning into growth and optimization projects rather than just maintaining the status quo. The main risk is that cash inflows remain linked to oil prices and operating reliability, so funding larger future expansions may require very careful capital discipline or additional external financing.

Competitive Edge

Competitive Edge Greenfire appears to compete on being a low‑cost, long‑life thermal oil producer with a concentrated position in the Athabasca oil sands. Its Tier‑1 SAGD reservoirs, relatively low decline rates, and underutilized processing capacity together create a cost and scale advantage versus many smaller or higher‑cost peers. The strategy of “filling the plant” by drilling into existing infrastructure allows for growth that does not require full greenfield build‑outs, which can be much more expensive and slower. However, the company remains a niche, pure‑play thermal producer, which leaves it highly exposed to heavy oil pricing, regulatory changes, and environmental policy shifts compared with more diversified energy companies.

Innovation and R&D

Innovation and R&D The company’s edge is built more on applied engineering and process innovation than on traditional lab‑style R&D. Its use of extended‑reach and curved SAGD wells is designed to tap more of the reservoir from fewer pads, lowering costs and surface impact. Planned innovations such as consolidated “super pads,” brownfield expansions, and relocating an existing processing facility all aim to boost capacity at significantly lower cost than building from scratch. The sharp increase in independently assessed reserves and the detailed roadmap for new pads and capacity upgrades underline a clear, innovation‑driven growth plan, though execution risk and capital needs remain important watchpoints.

Summary

Overall, Greenfire looks like a focused oil sands operator with improving profitability, a reasonably balanced but not overly liquid balance sheet, and consistently positive cash generation. Its competitive strengths come from high‑quality SAGD reservoirs, modern drilling and facility strategies, and an emphasis on maximizing existing infrastructure rather than pursuing expensive new mega‑projects. The company’s future story is largely about disciplined execution of its growth and optimization plans and continued innovation in drilling and facility design. Key uncertainties include oil price volatility, regulatory and environmental frameworks around oil sands, and the company’s ability to fund and deliver its expansion projects without stretching its balance sheet or compromising its cost advantage.

NEWS

November 14, 2025 · 6:30 PM UTC

Waterous Energy Fund Acquires Shares of Greenfire Resources Ltd.

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November 12, 2025 · 9:00 AM UTC

Waterous Energy Fund Acquires Shares of Greenfire Resources Ltd.

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November 3, 2025 · 9:10 PM UTC

Greenfire Resources Announces Intent to Conduct C$300 Million Rights Offering

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November 3, 2025 · 9:09 PM UTC

Greenfire Resources Announces Third Quarter 2025 Results, Operational Update, 2026 Guidance, and Refinancing Initiatives

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October 21, 2025 · 8:05 AM UTC

MediBeacon receives regulatory approval to sell the Transdermal GFR System in China

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