Greenfire Resources Ltd. (GFR) vs Mach Natural Resources LP (MNR)

Greenfire Resources Ltd. and Mach Natural Resources LP are both Oil & Gas E&P companies. Mach Natural Resources LP is the larger, with a market value of $1.7B against $1.3B — 1.3× the size. Greenfire Resources Ltd. has negative trailing earnings, so its P/E is not meaningful; Mach Natural Resources LP trades at 11.4×. Mach Natural Resources LP grew revenue faster over the last twelve months: 36.8% against −16.5%. Mach Natural Resources LP has the higher net margin (10.5% vs −6.42%) and the higher return on invested capital (5.30% vs 0.48%). Across the 18 metrics below, Mach Natural Resources LP leads on 12 and Greenfire Resources Ltd. on 6.

Valuation

Metric GFR MNR Oil & Gas E&P median
P/E n/m 11.42 9.67
P/S 1.64 1.19 1.76
P/B 0.84 0.90 1.19
Price to free cash flow n/m 5.97 8.37
EV/EBITDA 11.01 4.44 4.59
EV/Sales 1.71 2.06 2.27
Earnings yield (5.07%) 8.75% 7.55%
Free cash flow yield (6.27%) 16.74% 3.98%

Profitability

Metric GFR MNR Oil & Gas E&P median
Gross margin 91.87% 0.00% 79.54%
Operating margin 1.54% 17.91% 24.01%
Net margin (6.42%) 10.47% 14.11%
Free cash flow margin (10.30%) 42.01% 7.72%
Return on equity (3.69%) 0.00% 8.99%
Return on assets (2.89%) 3.91% 4.63%
Return on invested capital 0.48% 5.30% 6.33%

Growth

Metric GFR MNR Oil & Gas E&P median
Revenue growth (TTM) (16.46%) 36.75% 13.60%
EPS growth (last fiscal year) (62.10%) (42.63%) (10.17%)
Revenue growth, 5-year CAGR — — 18.67%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric GFR MNR Oil & Gas E&P median
Debt to equity 0.03 0.63 0.29
Current ratio 0.96 0.79 0.92
Net debt to EBITDA (0.21) 2.03 0.93

Dividend

Metric GFR MNR Oil & Gas E&P median
Dividend yield — — 3.76%
Payout ratio — — 0.33

Size

Metric GFR MNR Oil & Gas E&P median
Market cap 1.32b 1.66b 953.29m

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