Greenfire Resources Ltd. (GFR.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+159.0%

CA$22.20

vs CA$8.57 price

Levered DCF

CA$7.64

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

3.66

Safe zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	10.23×	5.76×	-2.73×	3.54×	0.39×	-141.67×
P/B	0.41×	0.85×	0.53×	0.56×	0.36×	-680×
P/S	0.83×	0.85×	0.55×	0.47×	0.94×	0×
EV / EBITDA	3.07×	5.86×	-380.27×	3.65×	0.73×	0×
Gross margin	14.6%	46.5%	41.3%	51.3%	51.5%	0.0%
Operating margin	10.1%	17.5%	-8.6%	27.1%	19.2%	0.0%
Net margin	8.1%	14.8%	-20.1%	13.2%	244.4%	0.0%
Current ratio	1.56×	0.43×	1.26×	0.9×	0.71×	0×
Debt / equity	0.01×	0.41×	0.56×	0.3×	0.46×	0×
Interest coverage	0.78×	2.32×	-0.54×	3.54×	2.08×	0×
Dividend yield	0.0%	0.0%	16.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	-43.8%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	4.0%	14.8%	-19.5%	15.7%	93.8%	600.0%
Return on invested capital	4.2%	12.2%	-5.3%	24.6%	5.0%	600.0%
Return on assets	3.6%	9.7%	-11.6%	11.2%	58.6%	0.0%
Free cash flow yield	5.1%	8.1%	14.4%	26.8%	10.7%	0.0%
Earnings yield	9.8%	17.3%	-36.7%	28.2%	259.4%	-0.9%
Enterprise value	CA$438.2M	CA$972.3M	CA$650.6M	CA$686.8M	CA$519.7M	CA$40.8M
Net debt / EBITDA	-0.25×	1.63×	-163.97×	1.17×	0.37×	0×
Cash conversion cycle (days)	49	32	26	21	14	0