Granite Ridge Resources, Inc.
GRNT Energy Oil & Gas E&P
Granite Ridge Resources, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $450.3 million, up 18.5% from fiscal 2024. In the quarter to June 2026, revenue grew 36.7%, EPS grew 21.1%, free cash flow grew 23.0% and total debt rose 68.0%, each against the same quarter a year earlier. Dividend growth for three consecutive years; insiders bought in the last twelve months.
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Granite Ridge Resources, Inc. (GRNT) Piotroski F-score
Granite Ridge Resources, Inc.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 4 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 1.00 |
| FY2024 | 4 | 0.00 |
| FY2023 | 4 | (4.00) |
| FY2022 | 8 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 2.21% | 1.91% | Pass | 1 |
| Positive operating cash flow | 296.41m | 275.73m | Pass | 1 |
| Rising return on assets | 2.21% | 1.91% | Pass | 1 |
| Cash flow above net income | 272.06m | 256.97m | Pass | 1 |
| Falling long-term leverage | 0.33 | 0.21 | Fail | 0 |
| Rising current ratio | 1.25 | 1.33 | Fail | 0 |
| No new shares issued | 130,439,000 | 130,189,000 | Fail | 0 |
| Rising gross margin | 100.00% | 100.00% | Fail | 0 |
| Rising asset turnover | 0.41 | 0.39 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| SD SandRidge Energy, Inc. compare | 9 |
| VTS Vitesse Energy, Inc. compare | 7 |
| OBE Obsidian Energy compare | 6 |
| GRNT Granite Ridge Resources, Inc. | 5 |
| TXO TXO Partners LP compare | 4 |
| WTI W&T Offshore, Inc. compare | 4 |
| GPRK Geopark Ltd compare | 4 |
| EGY Vaalco Energy Inc compare | 2 |
| INR Infinity Natural Resources Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover