Granite Ridge Resources, Inc (GRNT) 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

-775.8%

-$36.19

vs $5.36 price

Levered DCF

-$20.65

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.91

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	26.11×	46.14×	9.87×	4.58×	11.96×	-55.61×	363.74×
P/B	1.01×	1.32×	1.19×	1.81×	2.75×	7.48×	0×
P/S	1.36×	2.21×	2.03×	2.41×	4.49×	15.32×	98.48×
EV / EBITDA	3.54×	4.71×	3.32×	3×	6.54×	23.19×	0×
Gross margin	27.1%	31.6%	36.8%	63.6%	52.1%	-22.9%	17.4%
Operating margin	20.2%	15.6%	23.0%	60.7%	49.4%	-40.3%	42.2%
Net margin	5.4%	4.9%	20.6%	52.7%	37.4%	-27.5%	27.1%
Current ratio	1.25×	1.33×	2.44×	2.28×	1.45×	5.05×	0×
Debt / equity	0.61×	0.32×	0.16×	0×	0.11×	0.06×	0×
Interest coverage	3.57×	3.21×	17.04×	151.91×	60.06×	-19.06×	8.52×
Dividend yield	9.4%	6.8%	7.3%	0.9%	3.9%	0.0%	0.5%
Payout ratio	236.9%	306.5%	72.2%	4.1%	47.1%	0.0%	198.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.0%	3.0%	12.1%	39.5%	22.8%	-13.4%	0.0%
Return on invested capital	6.4%	4.8%	8.0%	39.4%	27.0%	-18.6%	0.0%
Return on assets	2.1%	1.8%	8.7%	33.0%	19.8%	-12.4%	0.0%
Free cash flow yield	-20.0%	-8.5%	-7.0%	9.3%	-2.9%	-3.8%	0.2%
Earnings yield	4.0%	2.2%	10.1%	21.9%	8.3%	-1.8%	0.3%
Enterprise value	$966.2M	$1B	$900.8M	$1.1B	$1.3B	$1.3B	$0
Net debt / EBITDA	1.29×	0.89×	0.37×	-0.13×	0.19×	0.13×	0×
Cash conversion cycle (days)	36	30	38	53	59	40	0