Granite Ridge Resources, Inc. (GRNT) stock analysis
Close on Nov 13, 2026Market cap $830.97MP/E –Yield 6.98%
StockData Score
Prices as of Nov 13, 2026How the score works
Weak6 of 30 checks passed
Granite Ridge Resources passes 6 of the 30 checks behind our score; 11 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 2/6
- Past performance
- 0/6
- Financial health
- 1/6
- Dividend
- 3/6
What stands out
Debt covered by cash flow
Operating cash flow over the last twelve months equals 57.9% of total debt.
Guidance raised
Granite Ridge Resources raised its 2026 Cash general and administrative expense ($ in millions) outlook on Nov 5, 2026.
Growing faster than the industry
Revenue grew 24.2% over the last twelve months; the Crude Petroleum and Natural Gas median is 9.1%.
Pays a dividend
Granite Ridge Resources paid dividends worth 7.0% of the share price over the last twelve months.
What to watch
Return on equity under 15%
Return on equity was -8.8% over the last twelve months and averaged 18.1% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 6.4%, below the 10% that usually covers the cost of capital.
High debt
Debt is 85.2% of shareholders' equity, above the 40% we consider low.
Revenue growing under 10% a year
Revenue grew -3.3% a year over the last three fiscal years, short of the 10% we look for.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA above its 5-year median
Granite Ridge Resources's EV/EBITDA of 16.3 is above its 5-year median of 12.0.
P/B above the industry
Granite Ridge Resources's price-to-book of 1.54 is above the Crude Petroleum and Natural Gas median of 1.38.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth2/6
Revenue growing under 10% a year
Revenue grew -3.3% a year over the last three fiscal years, short of the 10% we look for.
EPS growing under 10% a year
Diluted EPS grew -55.0% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 24.2% over the last twelve months; the Crude Petroleum and Natural Gas median is 9.1%.
Guidance raised
Granite Ridge Resources raised its 2026 Cash general and administrative expense ($ in millions) outlook on Nov 5, 2026.
Gross margin trend
This company does not report gross profit.
Past performance0/6
Return on equity under 15%
Return on equity was -8.8% over the last twelve months and averaged 18.1% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 6.4%, below the 10% that usually covers the cost of capital.
Return on equity below the industry
Granite Ridge Resources's return on equity of -8.8% is below the Crude Petroleum and Natural Gas median of 5.5%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin below its 5-year average
Net margin was -9.3% over the last twelve months, against a 5-year average of 24.2%.
Net margin below the industry
Granite Ridge Resources's net margin of -9.3% is below the Crude Petroleum and Natural Gas median of 4.5%.
Financial health1/6
High debt
Debt is 85.2% of shareholders' equity, above the 40% we consider low.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 57.9% of total debt.
Interest not well covered
Operating income covers interest expense 1.8 times; we look for at least 5.
Short-term assets don't cover short-term debts
Current assets are 0.90 times current liabilities.
Elevated bankruptcy risk
The Altman Z-score is 1.22; above 3 is the safe zone and below 1.8 the distress zone.
Dividend3/6
Pays a dividend
Granite Ridge Resources paid dividends worth 7.0% of the share price over the last twelve months.
Yield above Treasuries
The 7.0% yield is above the 4.7% on a 1-year Treasury.
Yield in the top quarter
The top quarter of US dividend payers yield 3.8% or more; Granite Ridge Resources yields 7.0%.
Dividend stability
Fewer than five years of dividend history.
Earnings cover
Needs dividends paid and net income.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itWe don't publish a fair value for Granite Ridge Resources. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 15.0
- Crude Petroleum and Natural Gas median 10.2
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Medium risk
- Average value traded per day
- $7.99M
- Value traded per 1% price move
- $3.26M
Downside
Medium risk
- Typical loss in a bad month
- 18.2%
- Volatility (annualized)
- 46%
- Sharpe ratio, 1 year
- 0.41
- Beta to the S&P 500 (5Y)
- 0.35
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2019 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +18.5% | -3.3% | +38.9% | – | |
| Operating income | -21.7% | -46.4% | – | – | |
| Net income | +29.8% | -54.7% | – | – | |
| EPS, diluted | +28.6% | -55.0% | – | – | |
| Dividend per share | 0.0% | +76.5% | – | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -6.9% | 3.9% | |
| Return on assets | – | – | 2.2% | |
| Current ratio | – | – | 1.25 | |
| Debt to equity | – | – | 0.64 | |
| Interest coverage | – | -19.1× | 1.8× | |
| Diluted shares | – | 133M | 131M |
Cash use needs five years of cash flow figures
Granite Ridge Resources does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.4% | 0.41× | 1.78× | 3.9% |
| FY2024 | 4.9% | 0.39× | 1.50× | 2.9% |
| FY2023 | 20.6% | 0.46× | 1.29× | 12.1% |
| FY2022 | 52.7% | 0.74× | 1.18× | 46.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$24.35M
- Cash generatingOperating cash flow above zero$296.41M
- Return on assets improvedROA up on the prior year2.0% → 2.3%
- Earnings backed by cashOperating cash flow above net income$296.41M vs $24.35M
- Less leverageLong-term debt to assets fell19.8% → 31.5%
- Better liquidityCurrent ratio rose1.33 → 1.25
- No dilutionShare count did not rise130M → 131M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.41 → 0.43
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