Granite Ridge Resources, Inc. key statistics and ratios

In fiscal 2025, Granite Ridge Resources, Inc. had return on equity of 3.9%, an operating margin of 10.3%, debt equal to 66.0% of equity and a current ratio of 1.25. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Granite Ridge Resources, Inc.: financial ratios, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
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%
Return on equity	−6.5%	25.7%	46.1%	12.1%	2.9%	3.9%	−4.7%
Return on assets	—	19.8%	39.1%	9.4%	1.9%	2.2%	−2.3%
Asset turnover	—	0.53	0.74	0.46	0.39	0.41	0.41
Current ratio	—	1.45	2.28	2.44	1.33	1.25	1.02
Debt to equity	0.0%	10.8%	0.0%	16.4%	32.3%	66.0%	84.5%
Interest cover (operating income ÷ interest)	n/m	60.1x	151.9x	17.0x	3.2x	1.8x	1.0x
Effective tax rate	—	0.0%	4.7%	23.2%	24.9%	24.2%	—
Capital spending as % of revenue	20.6%	28.7%	9.9%	19.5%	16.1%	26.3%	20.1%
Free cash flow ÷ net income	—	90.3%	113.3%	278.7%	>999%	730.6%	—
Dividends ÷ net income	—	0.0%	4.1%	72.2%	306.5%	236.9%	—
Dividends and buybacks ÷ free cash flow	—	0.0%	3.7%	41.6%	27.0%	32.4%	37.0%

US$ thousands unless shown otherwise. Fiscal quarters.

Granite Ridge Resources, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Operating margin	26.2%	−6.5%	34.6%	19.0%	17.4%	−34.5%	11.6%	26.1%
Net margin	9.6%	−10.9%	8.0%	23.0%	12.9%	−23.8%	−36.7%	20.1%
Free-cash-flow margin	46.3%	55.5%	33.7%	62.1%	58.2%	2.9%	38.1%	26.1%
Current ratio	1.56	1.33	1.20	1.32	1.41	1.25	0.93	1.02
Debt to equity	29.5%	32.3%	39.6%	42.8%	46.6%	63.6%	78.1%	82.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

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Figures from Granite Ridge Resources, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Granite Ridge Resources, Inc.