Greenfire Resources Ltd. (GFR) 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

+362.2%

$28.49

vs $6.17 price

Levered DCF

$8.90

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.58

Safe zone

Rating

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	10.21×	5.77×	-2.58×	7.61×	-1,196.43×	-1,433.72×
P/B	0.4×	0.88×	0.5×	1.2×	0.95×	-8,602.33×
P/S	0.78×	0.92×	0.52×	1×	2.48×	0×
EV / EBITDA	2.41×	4.99×	-368.63×	6.5×	1.31×	0×
Gross margin	44.4%	32.6%	41.3%	51.3%	51.5%	0.0%
Operating margin	9.8%	28.7%	-8.6%	27.1%	19.2%	0.0%
Net margin	7.9%	15.4%	-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	1.42×	4.68×	-1.24×	3.54×	2.08×	0×
Dividend yield	0.0%	0.0%	17.0%	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	4.1%	14.8%	-19.5%	15.7%	93.8%	600.0%
Return on invested capital	4.3%	19.3%	-5.3%	24.6%	5.0%	600.0%
Return on assets	3.7%	9.7%	-11.6%	11.2%	58.6%	0.0%
Free cash flow yield	5.1%	7.9%	15.2%	12.5%	4.1%	0.0%
Earnings yield	10.0%	16.7%	-38.7%	13.1%	98.6%	-0.1%
Enterprise value	$436.9M	$995.9M	$630.7M	$1.2B	$935.2M	$516.1M
Net debt / EBITDA	-0.2×	1.36×	-163.97×	1.17×	0.37×	0×
Cash conversion cycle (days)	50	28	19	17	2	0