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Granite Ridge Resources, Inc. (GRNT) stock

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NYSE: GRNT NYSE Oil & Gas Exploration & Production Next results ~November 5, 2026

C Fundamentals grade

Granite Ridge Resources, Inc. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$8.2

Valuation models combined (3)

Base case. Range ~$6.6–$9.7. Weighted average of 3 models (forward price-to-earnings vs peers, residual income, justified price-to-book).

Price vs value

Undervalued

The price is below our entire value range; our base value is 56% above it.

Price used: $5.24, November 2, 2026

Granite Ridge Resources, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders7 buying, 0 selling35 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds113 adding, 49 cuttingOf 31 active managers that changed their stake, 23 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Granite Ridge Resources files

Where Granite Ridge Resources stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $496m, up 14.6% on a year earlier, faster than the 10.1% growth a quarter earlier. Free-cash-flow margin fell to 31.6% from 49.0% a year earlier. Operating margin narrowed to 7.5% from 18.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 7 financial-health checks. Our valuation models combined value is $8.95 a share, against a share price of $5.81.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Granite Ridge Resources, Inc.'s trailing-twelve-month revenue grew 14.6% year on year, with a free-cash-flow margin of 31.6%. Where it lags: long-term debt as % of assets of 34.5% ranks 35 of 43 oil & gas exploration & production companies we cover.

Our discounted-cash-flow model values the business at ~$45 per share in the base case (~$33–$61 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 14.6% (+4.5pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $5.24 is 56% below our value per share of $8.
  • Growth speeding up. The growth rate is 4.5 points higher than a quarter earlier.
  • Strong cash generation. 31.6% of revenue turned into free cash flow, against a median of 23.2% for oil & gas exploration & production companies we cover.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 38.3% over 90 days.

Things to watch

  • Results due soon. Results are expected around 6 November; the share price can move sharply on the day.
  • Margins narrowing. Operating margin is down 11.3 points on a year ago.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 34.5% ranks 35 of 43 oil & gas exploration & production companies we cover (median 17.6%).
  • Heavily shorted. 10.1% of the shares available to trade are sold short (4.3 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.09 against an average estimate of $0.07: beat by 21.6%
Revenue
$149m, up 36.7% on a year earlier
Share reaction
+5.4% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
annual production (Boe per day) 34000 to 36000 (2026); oil as a % of sales volumes 50% to 52% (2026)
Next report
November 5, 2026; average EPS estimate $0.12

Granite Ridge Resources' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-8.6%
  • 1 week-11.3%
  • 1 month+17.2%
  • This year+19.1%
  • 1 year+8.3%
  • 5 years-28.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$496M
Operating margin
7.5%
Net margin
-5.6%
EPS (TTM, diluted)
$-0.21

Growth

Revenue growth
+14.6%
Change in growth rate
+4.5 pts
Share count change
+0.2%

Cash

Free cash flow (TTM)
$156M
FCF margin
31.6%
Stock pay % of revenue
1.1%

Earnings

Last results
August 6, 2026
Next results (est.)
November 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Granite Ridge Resources, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$8.2
Price used
$5.19close November 3, 2026
Implied change
▲ +57%
Uncertainty
Low

How we got here: the combined value of 3 valuation models built for a business like Granite Ridge Resources, Inc. (see the models table below and how they are combined) , with a 8.01% cost of equity. The models span ~$6.6–~$9.7; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Granite Ridge Resources, Inc.'s free cash flow after stock-based pay ( $234M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Granite Ridge Resources, Inc. as an oil and gas producer, with every model that fits that kind of business. Cost of equity 8%: the 10-year Treasury yield (4.9%) plus a beta of 0.68 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. — Does not apply: no standardised measure of proved reserves in the company's tagged filings
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$45 ~$33–$61 Left out: out of range vs price (8.66x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$6.6 ~$5.2–$10 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$8.2 ~$6.0–$12 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$9.7 ~$8.1–$12 Included
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$8.2 ~$6.6–$9.7 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Granite Ridge Resources, Inc. with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$7.47$7.32$6.80$4.86$5.59$4.40$5.24
Market value$993m$973m$904m$647m$728m$574m$684m
+ Net debt (− = net cash)−$9m$39m−$51m$99m$196m$385m$431m
Enterprise value$984m$1.0bn$853m$746m$923m$959m$1.1bn
Multiples
Price / sales 11.4x3.4x1.8x1.6x1.9x1.3x1.4x
Price / earnings —9.0x3.4x8.0x38.8x23.6x—
Price / free cash flow 20.3x9.9x3.0x2.9x3.4x3.2x4.4x
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $158m and EPS of $0.12 (range $0.07 to $0.16) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.46 +6% $601m +34%
Next $0.89 +95% $630m +5%

Next year's EPS estimate has moved +38.3% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +12.6% on 90 days ago. In the last 30 days, 1 analyst raised Granite Ridge Resources, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Granite Ridge Resources, Inc., last 90 days
$0.40 $0.60 $0.80 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.40 Current fiscal year, 60 days ago: $0.43 Current fiscal year, 30 days ago: $0.43 Current fiscal year, 7 days ago: $0.43 Current fiscal year, Now: $0.46 $0.46 Next fiscal year, 90 days ago: $0.64 Next fiscal year, 60 days ago: $0.68 Next fiscal year, 30 days ago: $0.74 Next fiscal year, 7 days ago: $0.71 Next fiscal year, Now: $0.89 $0.89

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.40$0.64
60 days ago $0.43$0.68
30 days ago $0.43$0.74
7 days ago $0.43$0.71
Now $0.46$0.89

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.07 $0.09 +21.6%
Mar 2026 $0.12 $0.02 −82.8%
Dec 2025 $0.10 $0.01 −90.0%
Sept 2025 $0.14 $0.09 −34.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Annual production (Boe per day) 2026 34,000 to 36,000
    “Annual production (Boe per day) 34,000 - 36,000” source
  • Oil as a % of sales volumes 2026 50% to 52%
    “Oil as a % of sales volumes 50% - 52%” source
  • Acquisitions ($ in millions) 2026 $45m to $55m
    “Acquisitions ($ in millions) $45 - $55” source
  • Development capital expenditures ($ in millions) 2026 $300m to $330m
    “Development capital expenditures ($ in millions) $300 - $330” source
  • Total capital expenditures ($ in millions) 2026 $345m to $385m
    “Total capital expenditures ($ in millions) $345 - $385” source
  • Lease operating expenses (per Boe) 2026 $8.25 to $9.25
    “Lease operating expenses (per Boe) $8.25 - $9.25” source
Show 2 more items
  • Production and ad valorem taxes (as a % of total sales) 2026 6% to 7%
    “Production and ad valorem taxes (as a % of total sales) 6% - 7%” source
  • Cash general and administrative expense ($ in millions) 2026 $25m to $27m
    “Cash general and administrative expense ($ in millions) $25 - $27” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Granite Ridge Resources, Inc.'s revenue by +18.8% next year and +8.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+24.2%, weight 62%) and the company's own record (+9.6%, weight 38%) . How the weights are set.

Analyst recommendations

5 analysts, Oct 2026
Buy360%
Hold240%
Sell00%

Monthly trend

  1. Oct 2026325
  2. Sep 2026325
  3. Aug 2026325
  4. Jul 2026235

Counts of recommendations published by analysts covering Granite Ridge Resources, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.1%
of tradable shares
Days to cover
4.29
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
78%
of shares
Held by insiders
10.9%
of shares
Employees
6
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +8.3%

$4.84 on October 31, 2025 to $5.24

ThenNowEffect
Revenue (last 12 months) $433m $496m +14.6%
P/S multiple 1.5x 1.4x −5.3%
Share count 130m 131m −0.2%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +4.2%

$5.03 on November 3, 2023 to $5.24

ThenNowEffect
Revenue (last 12 months) $432m $496m +14.7%
P/S multiple 1.5x 1.4x −10.8%
Share count 133m 131m +1.9%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
GRNT−2%−7%−29%+15%−21%+19%
Industry peers (median)+88%+55%−8%+1%−15%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
GRNT58%50%58%58%33%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
GRNT−6%−20%−44%−18%−31%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 6, 2020: 50% from January 22, 2021 to March 23, 2023. Getting back needed a 101% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.94 – $5.91
From 52-week high
−11.3%
vs 50-day average
+4.1%
vs 200-day average
+6.3%
Volatility (1 year)
42%
Beta vs S&P 500
-0.54

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±4.4%
After a week
7 up, 5 down
typical move ±5.3%
After a month
8 up, 4 down
typical move ±8.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +5.4% +0.5% +8.9% +12.2%
May 7, 2026 −12.3% +0.5% −6.7% −13.0%
March 5, 2026 −4.6% −1.9% −2.7% +11.6%
November 7, 2025 −5.9% +1.7% −4.1% +0.5%
August 7, 2025 +7.0% +0.7% +9.0% +9.5%
May 8, 2025 +4.2% +0.6% +12.1% +19.4%
March 6, 2025 −4.6% −1.2% −1.2% −12.7%
November 7, 2024 +2.5% +1.2% +4.4% −1.8%
August 8, 2024 +0.3% +2.8% +8.8% +1.0%
May 9, 2024 −3.1% +0.7% −1.2% −1.6%
March 7, 2024 −2.1% +0.4% +2.5% +9.1%
February 2, 2024 −1.3% +0.7% +2.0% +14.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Granite Ridge Resources, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Granite Ridge Resources, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Granite Ridge Resources, Inc.
$350M $400M $450M $500M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $403.6M Revenue (TTM), FY23 Q4: $394.1M Revenue (TTM), FY24 Q1: $391.8M Revenue (TTM), FY24 Q2: $394.9M Revenue (TTM), FY24 Q3: $380.5M Revenue (TTM), FY24 Q4: $380M Revenue (TTM), FY25 Q1: $414M Revenue (TTM), FY25 Q2: $432.5M Revenue (TTM), FY25 Q3: $451.1M Revenue (TTM), FY25 Q4: $450.3M Revenue (TTM), FY26 Q1: $455.6M Revenue (TTM), FY26 Q2: $495.7M $495.7M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $403.6M
FY23 Q4 $394.1M
FY24 Q1 $391.8M
FY24 Q2 $394.9M
FY24 Q3 $380.5M
FY24 Q4 $380M
FY25 Q1 $414M
FY25 Q2 $432.5M
FY25 Q3 $451.1M
FY25 Q4 $450.3M
FY26 Q1 $455.6M
FY26 Q2 $495.7M
Revenue growth, TTM YoY Granite Ridge Resources, Inc.
-40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -23.7% Revenue growth, TTM YoY, FY23 Q4: -20.8% Revenue growth, TTM YoY, FY24 Q1: -20.8% Revenue growth, TTM YoY, FY24 Q2: -8.6% Revenue growth, TTM YoY, FY24 Q3: -5.7% Revenue growth, TTM YoY, FY24 Q4: -3.6% Revenue growth, TTM YoY, FY25 Q1: 5.7% Revenue growth, TTM YoY, FY25 Q2: 9.5% Revenue growth, TTM YoY, FY25 Q3: 18.6% Revenue growth, TTM YoY, FY25 Q4: 18.5% Revenue growth, TTM YoY, FY26 Q1: 10.1% Revenue growth, TTM YoY, FY26 Q2: 14.6% 14.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -23.7%
FY23 Q4 -20.8%
FY24 Q1 -20.8%
FY24 Q2 -8.6%
FY24 Q3 -5.7%
FY24 Q4 -3.6%
FY25 Q1 5.7%
FY25 Q2 9.5%
FY25 Q3 18.6%
FY25 Q4 18.5%
FY26 Q1 10.1%
FY26 Q2 14.6%
Operating margin (TTM) Granite Ridge Resources, Inc.
0% 10% 20% 30% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 37.1% Operating margin (TTM), FY23 Q4: 23.0% Operating margin (TTM), FY24 Q1: 20.6% Operating margin (TTM), FY24 Q2: 20.0% Operating margin (TTM), FY24 Q3: 18.6% Operating margin (TTM), FY24 Q4: 15.6% Operating margin (TTM), FY25 Q1: 19.9% Operating margin (TTM), FY25 Q2: 18.7% Operating margin (TTM), FY25 Q3: 16.8% Operating margin (TTM), FY25 Q4: 10.3% Operating margin (TTM), FY26 Q1: 4.1% Operating margin (TTM), FY26 Q2: 7.5% 7.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 37.1%
FY23 Q4 23.0%
FY24 Q1 20.6%
FY24 Q2 20.0%
FY24 Q3 18.6%
FY24 Q4 15.6%
FY25 Q1 19.9%
FY25 Q2 18.7%
FY25 Q3 16.8%
FY25 Q4 10.3%
FY26 Q1 4.1%
FY26 Q2 7.5%
FCF margin (TTM) Granite Ridge Resources, Inc.
30% 40% 50% 60% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 60.0% FCF margin (TTM), FY23 Q4: 57.4% FCF margin (TTM), FY24 Q1: 60.0% FCF margin (TTM), FY24 Q2: 53.7% FCF margin (TTM), FY24 Q3: 57.4% FCF margin (TTM), FY24 Q4: 56.5% FCF margin (TTM), FY25 Q1: 45.9% FCF margin (TTM), FY25 Q2: 49.0% FCF margin (TTM), FY25 Q3: 51.8% FCF margin (TTM), FY25 Q4: 39.5% FCF margin (TTM), FY26 Q1: 40.7% FCF margin (TTM), FY26 Q2: 31.6% 31.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 60.0%
FY23 Q4 57.4%
FY24 Q1 60.0%
FY24 Q2 53.7%
FY24 Q3 57.4%
FY24 Q4 56.5%
FY25 Q1 45.9%
FY25 Q2 49.0%
FY25 Q3 51.8%
FY25 Q4 39.5%
FY26 Q1 40.7%
FY26 Q2 31.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Granite Ridge Resources took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $450M
  2. Selling, general and admin $31M · 6.9%
  3. Other operating costs $373M · 82.8%
  4. Operating income $46.4M · 10.3%
  5. Income tax $7.8M · 1.7%
  6. Interest and other $14.3M · 3.2%
  7. Net income $24.4M · 5.4%

Shares of revenue. Source: Granite Ridge Resources's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 87 290 497 394 380 450 496
Operating income −35 143 302 91 59 46 37
Net income −24 108 262 81 19 24 −28
Diluted EPS −$0.18 $0.82 $1.97 $0.61 $0.14 $0.18 −$0.21
Growth (year on year)
Revenue — +233.2% +71.4% −20.8% −3.6% +18.5% +14.6%
Operating income — — +110.9% −70.0% −34.6% −21.7% −54.3%
Net income — — +141.9% −69.1% −76.9% +29.8% −185.3%
Diluted EPS — — +140.2% −69.0% −77.0% +28.6% −185.1%
Margins
Operating margin −40.3% 49.4% 60.7% 23.0% 15.6% 10.3% 7.5%
Net margin −27.5% 37.4% 52.7% 20.6% 4.9% 5.4% −5.6%
Free-cash-flow margin 56.1% 33.8% 59.7% 57.4% 56.5% 39.5% 31.6%
Cash flow
Cash from operations 67 181 346 303 276 296 256
Capital spending 18 83 49 77 61 118 100
Free cash flow 49 98 297 226 215 178 156
Stock-based pay — 0 0 2 2 4 5
Free cash flow after stock pay — 98 297 224 212 174 151
Balance sheet
Cash 9 12 51 11 9 15 44
Total debt 0 51 0 110 205 400 475
Net debt (negative = net cash) −9 39 −51 99 196 385 431
Diluted shares 133m 133m 133m 133m 130m 131m 131m
Returned to shareholders
Dividends — 0 11 59 57 58 58
Buybacks — 0 0 35 0 0 0
Total returned — 0 11 94 58 58 58

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $1.2bn
Short-term assets $155mLonger-term assets $1.1bn
What it owes, and who funded it · $1.2bn
Short-term liabilities $151mLonger-term liabilities $524mShareholders' equity $562m
  • Short-term assets cover short-term liabilities $155m of assets due within a year against $151m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $155m short-term assets against $524m of longer-dated liabilities.
  • More cash than debt $44m of cash against $462m of debt.
  • Debt below 40% of shareholders' equity Debt is 82% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 82% over five years.
  • A year's operating cash flow covers at least 20% of debt $256m of operating cash flow against $462m of debt.
  • Operating profit covers interest at least five times over Operating income of $37m against $36m of interest.

From Granite Ridge Resources, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$30,000
Dividends (TTM)
$57.8M
Returned to shareholders
37%
of free cash flow
Buybacks, last 3 fiscal years
$35.8M
Diluted share count
+0.2%
year over year
Total shareholder yield
8.4%
dividends 8.4% + buybacks 0.0% of market value

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated GRNT TXO GPRK REPX BSM GFR Median
Revenue, last 12 months $496m $497m $493m $484m $524m $418m $1.4bn
Revenue growth, last 12 months 14.6% 49.6% −25.5% 23.2% 19.8% −27.6% 10.6%
Revenue growth, 3-year average 4.7% 9.2% — 13.3% −10.8% — 1.4%
Revenue growth, latest quarter 36.7% 67.9% — 94.2% −6.6% — 31.5%
Operating margin 7.5% −8.7% 22.4% 38.4% 56.4% — 21.1%
Operating margin, 3-year average 15.4% −27.0% 24.5% 39.4% 62.3% — 16.5%
Net margin −5.6% −7.5% 10.1% 24.5% 48.5% 8.1% 10.1%
Cash from operations / revenue 51.7% 28.8% 3.0% 49.4% 61.1% 23.4% 42.4%
Free-cash-flow margin 31.6% 7.4% −17.0% 48.4% 39.2% 4.2% 19.3%
Free-cash-flow margin, 3-year average 44.7% 12.4% 2.3% 51.5% 56.0% — 19.1%
Stock pay / revenue 1.1% 2.7% 0.9% 2.3% 2.0% 0.5% 1.5%
Change in share count 0.2% 28.8% −2.0% −0.1% — −99.9% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth 14.6% 10.6% 24 of 57
Change in growth rate Growth +4.5pp +4.9pp 30 of 57
Operating margin Profitability 7.5% 19.9% 27 of 42
Net margin Profitability -5.6% 10.1% 42 of 57
Free-cash-flow margin Cash generation 31.6% 23.2% 17 of 51
Stock pay as % of revenue Cash generation 1.1% 1.2% 20 of 47
Long-term debt as % of assets Balance sheet 34.5% 17.6% 35 of 43
Change in share count Balance sheet 0.2% 0.4% 23 of 48

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Oil and Gas Service $361M 80.1% ▲ 10.2%
Natural Gas Storage $89.5M 19.9% ▲ 70.3%
Geography
Region Revenue Share YoY
Permian Basin Texas $309M 68.6% ▲ 29.8%
Eagle Ford Basin Texas $33.8M 7.5% ▼ 37.9%
Denver Julesburg Dj Colorado $32M 7.1% ▲ 6.9%
Bakken Basin Montana North Montana North Dakota $28.7M 6.4% ▼ 28.8%
Haynesville $25.9M 5.8% ▲ 54.4%
Appalachian $21M 4.7% ▲ 4411.4%

From Granite Ridge Resources, Inc.'s 10-K filed March 6, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$491M
Institutions reporting
172
Shares held vs prior quarter
▲ 4.1%
Positions opened / closed
34 / 17

Top buyers and sellers, Q2 2026: 113 institutions bought and 49 sold ; the biggest buyer was Dimensional Fund Advisors LP (+631K shares) and the biggest seller Zazove Associates LLC (−867K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Grey Rock Energy Management, LLC $244M 55.3M 49.7% 0.0%
Hamilton Lane Advisors LLC $29.8M 6.8M 6.1% ▼ 8.5%
Utah Retirement Systems $23.1M 5.2M 4.7% 0.0%
Blackrock, Inc. $21.9M 5.0M 4.5% ▲ 5.5%
Dimensional Fund Advisors LP $17.4M 3.9M 3.5% ▲ 19.1%
American Century Companies Inc $13.7M 3.1M 2.8% ▲ 3.9%
Vanguard Capital Management LLC $13.6M 3.1M 2.8% ▼ 0.1%
Georgetown University $13.6M 3.1M 2.8% ▼ 3.3%
Vanguard Portfolio Management LLC $7.2M 1.6M 1.5% ▲ 11.1%
Geode Capital Management, LLC $7.1M 1.6M 1.4% ▲ 6.1%
AQR Capital Management LLC $6.7M 1.5M 1.4% ▲ 49.9%
State Street Corp $5.3M 1.2M 1.1% ▲ 11.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Granite Ridge Resources, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $1.4M 35 trades by 7 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $1.4M net buying
Insider Date Trade Shares Price Value
Miller Matthew Reade Director September 11, 2026 Buy 10,000 $5.03 $50,300
Kettler Ronald Kyle Chief Financial Officer September 4, 2026 Buy 6,000 $5.05 $30,300
Mccartney John Director September 1, 2026 Buy 5,000 $5.04 $25,200
Mccartney John Director August 13, 2026 Buy 2,000 $5.00 $10,000
Everard Michele J Director August 13, 2026 Buy 1,000 $5.00 $5,000
Miller Matthew Reade Director June 12, 2026 Buy 696 $4.97 $3,459
Mccartney John Director June 10, 2026 Buy 4,000 $4.96 $19,840
Miller Matthew Reade Director June 9, 2026 Buy 10,600 $4.75 $50,350
Kettler Ronald Kyle Chief Financial Officer May 27, 2026 Buy 6,000 $5.08 $30,480
Mccartney John Director May 21, 2026 Buy 4,000 $5.54 $22,160
Mccartney John Director May 19, 2026 Buy 3,000 $5.81 $17,430
Perry Griffin Director May 18, 2026 Buy 100,000 $5.49 $549,000

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 6, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • March 5, 2026
  • November 7, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Granite Ridge Resources, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Granite Ridge Resources, Inc. in brief

What does Granite Ridge Resources, Inc. do?
Granite Ridge Resources, Inc. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Granite Ridge Resources, Inc.'s stock ticker?
Granite Ridge Resources, Inc. trades under the ticker GRNT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Granite Ridge Resources, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Granite Ridge Resources, Inc. reported revenue of $496M, 14.6% higher than a year earlier, according to its SEC filings.
What is Granite Ridge Resources, Inc.'s free cash flow?
Granite Ridge Resources, Inc.'s free-cash-flow margin is 31.6% of revenue over the trailing twelve months, ranking 17 of the 51 oil & gas exploration & production companies we cover.
Who are Granite Ridge Resources, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Grey Rock Energy Management, LLC, Hamilton Lane Advisors LLC and Utah Retirement Systems. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Granite Ridge Resources, Inc. buying back stock, and does it pay a dividend?
Granite Ridge Resources, Inc. spent $30,000 on share repurchases over the trailing twelve months, and its diluted share count still rose 0.2% over the year.
What is Granite Ridge Resources, Inc.'s market cap?
On November 2, 2026, Granite Ridge Resources, Inc.'s market capitalisation was about $684M and net debt of $431M. Market figures come from third-party market data and may be delayed.
Does Granite Ridge Resources, Inc. pay a dividend?
Yes: Granite Ridge Resources, Inc. paid $57.8M in dividends over the trailing twelve months, a dividend yield of 8.44%.
How much debt does Granite Ridge Resources, Inc. have?
Granite Ridge Resources, Inc.'s debt-to-equity ratio is 82.2%, from its latest balance sheet (0.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Granite Ridge Resources, Inc.'s competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Granite Ridge Resources, Inc. are TXO Partners, L.p., Geopark Ltd, Riley Exploration Permian, Inc., Black Stone Minerals, L.p. and Greenfire Resources Ltd. The side-by-side comparison below sets their revenue, margins and growth against Granite Ridge Resources, Inc.'s.
Are insiders buying or selling Granite Ridge Resources, Inc. stock?
Over the last 12 months, Granite Ridge Resources, Inc.'s directors and officers reported 35 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Granite Ridge Resources, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Granite Ridge Resources, Inc. announces its own schedule.