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GRNT

Granite Ridge Resources, Inc

GRNT

Granite Ridge Resources, Inc • NYSE
$5.15 ▲ 0.98% (+0.05)
Market Cap $675.94 M
52w High $7.00
52w Low $4.52
Dividend Yield 0.44%
P/E 17.76
Volume 252.06K
Outstanding Shares 131.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $112.671M ▲ $6.988M ▼ $14.523M ▼ 12.89% ▼ $0.11 ▼ $81.308M ▼
Q2-2025 $109.219M ▼ $8.517M ▲ $25.081M ▲ 22.964% ▲ $0.19 ▲ $92.184M ▲
Q1-2025 $122.931M ▲ $7.343M ▼ $9.812M ▲ 7.982% ▲ $0.075 ▲ $66.152M ▲
Q4-2024 $106.307M ▲ $41.057M ▼ $-11.622M ▼ -10.932% ▼ $-0.09 ▼ $38.26M ▼
Q3-2024 $94.075M $63.048M $9.054M 9.624% $0.069 $62.353M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $23.406M ▲ $1.129B ▲ $484.648M ▲ $643.892M ▲
Q2-2025 $14.769M ▼ $1.105B ▲ $462.497M ▲ $642.466M ▲
Q1-2025 $37.92M ▼ $1.087B ▲ $456.023M ▲ $631.413M ▼
Q4-2024 $41.202M ▼ $1.036B ▲ $401.126M ▲ $635.353M ▼
Q3-2024 $50.753M $1.036B $375.295M $660.58M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $14.523M ▼ $77.78M ▼ $-80.254M ▲ $10.563M ▲ $8.089M ▲ $-3.009M ▲
Q2-2025 $24.955M ▲ $78.043M ▲ $-100.536M ▼ $10.128M ▼ $-12.365M ▼ $-29.931M ▼
Q1-2025 $9.812M ▲ $76.091M ▲ $-99.997M ▼ $30.595M ▲ $6.689M ▲ $-25.329M ▲
Q4-2024 $-11.622M ▼ $68.197M ▼ $-77.138M ▲ $-4.742M ▼ $-13.683M ▼ $-33.426M ▼
Q3-2024 $8.995M $74.694M $-81.051M $15.617M $9.56M $-13.934M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Natural Gas Storage
Natural Gas Storage
 $30.00M ▲$30.00M ▲$20.00M ▼$20.00M ▲
Oil and Gas Service
Oil and Gas Service
 $170.00M ▲$90.00M ▼$90.00M ▲$90.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits have been solidly positive in recent years, but appear past their peak. Earnings surged when oil and gas prices were very strong, then stepped down as conditions normalized. The company still earns money, but margins and bottom-line profit have narrowed compared with its best year. Overall, the business looks profitable but more sensitive to commodity cycles than to steady, internal growth so far.

Balance Sheet

Balance Sheet The asset base has expanded meaningfully over the last few years, giving the company more scale in its portfolio. Equity has increased, suggesting that a good portion of growth has been funded through retained earnings. Debt has risen but does not look excessive relative to the size of the business. Cash on hand is modest, which puts more importance on ongoing cash generation and access to credit, but the balance sheet overall looks reasonably healthy for a small energy platform.

Cash Flow

Cash Flow The business generates solid cash from operations, which is a key strength. However, heavy reinvestment in new interests and development has consistently outweighed this cash inflow, leading to mostly negative free cash flow. In simple terms, the company is spending aggressively to grow and refresh its portfolio. This can support future production, but it also means less spare cash for debt reduction or other uses and a continuing need for disciplined capital allocation.

Competitive Edge

Competitive Edge Granite Ridge competes less as a traditional driller and more as a specialized capital allocator in oil and gas. Its non-operator model and broad diversification across many basins and partners help spread geological and operational risk. Relationships with numerous operators and a large dataset of wells provide an information edge and access to deal flow that smaller investors may not have. On the other hand, it relies heavily on the skill and priorities of its operating partners and faces competition from private equity and other financial players looking for similar non-operated interests, all under the overarching volatility of oil and gas prices.

Innovation and R&D

Innovation and R&D The company’s innovation is mainly in its business model and analytics rather than in drilling technology. It uses a proprietary database and internal tools to screen large numbers of opportunities and pick projects it believes have attractive risk-reward profiles. By focusing on data, partnering with technically strong operators, and maintaining a lean cost structure, it aims to get the benefit of advanced field technology without funding traditional research and development itself. Future progress likely comes from refining its data platform, improving deal selection, and deepening partnerships, rather than from new physical technologies.

Summary

Granite Ridge is a relatively young, niche energy company behaving more like an investment platform in oil and gas than a standard operator. It is profitable, with a growing asset base and manageable leverage, but recent earnings have cooled from earlier highs tied to stronger commodity prices. The core trade-off is clear: strong operating cash generation and a data-driven model, balanced against heavy reinvestment, limited direct control over operations, and exposure to commodity cycles. Its edge lies in analytics, diversification, and partner selection rather than in owning rigs or infrastructure, so long-term outcomes depend on maintaining that information advantage and continuing to allocate capital carefully.

NEWS

November 6, 2025 · 6:08 PM UTC

Granite Ridge Resources, Inc. Reports Third Quarter 2025 Results and Declares Quarterly Cash Dividend

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October 7, 2025 · 4:28 PM UTC

Granite Ridge Resources Schedules Third Quarter 2025 Earnings Conference Call

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