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Side-by-side financial comparison of Granite Ridge Resources, Inc. (GRNT) and H2O AMERICA (HTO). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $105.5M, roughly 1.9× Granite Ridge Resources, Inc.). On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -0.8%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 8.9%).
Granite Ridge Resources, Inc. is an independent upstream energy company focused on the exploration, development, and production of oil, natural gas, and natural gas liquids. It operates low-cost, high-yield onshore hydrocarbon assets across key U.S. basins, primarily serving North American energy markets.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
GRNT vs HTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $199.4M |
| Net Profit | — | $16.2M |
| Gross Margin | — | — |
| Operating Margin | -34.5% | 16.6% |
| Net Margin | — | 8.1% |
| Revenue YoY | -0.8% | 1.5% |
| Net Profit YoY | — | -29.2% |
| EPS (diluted) | $-0.19 | $0.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $105.5M | $199.4M | ||
| Q3 25 | $112.7M | $243.5M | ||
| Q2 25 | $109.2M | $197.8M | ||
| Q1 25 | $122.9M | $164.9M | ||
| Q4 24 | $106.3M | $196.5M | ||
| Q3 24 | $94.1M | $216.7M | ||
| Q2 24 | $90.7M | $173.1M | ||
| Q1 24 | $89.0M | $150.0M |
| Q4 25 | — | $16.2M | ||
| Q3 25 | $14.5M | $45.1M | ||
| Q2 25 | $25.1M | $24.7M | ||
| Q1 25 | $9.8M | $16.6M | ||
| Q4 24 | — | $22.9M | ||
| Q3 24 | $9.1M | $38.7M | ||
| Q2 24 | $5.1M | $20.7M | ||
| Q1 24 | $16.2M | $11.7M |
| Q4 25 | -34.5% | 16.6% | ||
| Q3 25 | 17.4% | 26.5% | ||
| Q2 25 | 19.0% | 22.2% | ||
| Q1 25 | 34.6% | 21.8% | ||
| Q4 24 | -6.5% | 22.2% | ||
| Q3 24 | 26.2% | 26.9% | ||
| Q2 24 | 24.1% | 23.4% | ||
| Q1 24 | 22.0% | 18.6% |
| Q4 25 | — | 8.1% | ||
| Q3 25 | 12.9% | 18.5% | ||
| Q2 25 | 23.0% | 12.5% | ||
| Q1 25 | 8.0% | 10.0% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | 9.6% | 17.8% | ||
| Q2 24 | 5.6% | 12.0% | ||
| Q1 24 | 18.2% | 7.8% |
| Q4 25 | $-0.19 | $0.45 | ||
| Q3 25 | $0.11 | $1.27 | ||
| Q2 25 | $0.19 | $0.71 | ||
| Q1 25 | $0.07 | $0.49 | ||
| Q4 24 | $-0.09 | $0.70 | ||
| Q3 24 | $0.07 | $1.17 | ||
| Q2 24 | $0.04 | $0.64 | ||
| Q1 24 | $0.12 | $0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $20.7M |
| Total DebtLower is stronger | $367.8M | $1.9B |
| Stockholders' EquityBook value | $605.8M | $1.5B |
| Total Assets | $1.2B | $5.1B |
| Debt / EquityLower = less leverage | 0.61× | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.7M | ||
| Q3 25 | — | $11.3M | ||
| Q2 25 | — | $19.8M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $11.1M | ||
| Q3 24 | — | $4.0M | ||
| Q2 24 | — | $22.8M | ||
| Q1 24 | — | $4.5M |
| Q4 25 | $367.8M | $1.9B | ||
| Q3 25 | $300.0M | — | ||
| Q2 25 | $275.0M | — | ||
| Q1 25 | $250.0M | — | ||
| Q4 24 | $205.0M | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $137.5M | — |
| Q4 25 | $605.8M | $1.5B | ||
| Q3 25 | $643.9M | $1.5B | ||
| Q2 25 | $642.5M | $1.5B | ||
| Q1 25 | $631.4M | $1.4B | ||
| Q4 24 | $635.4M | $1.4B | ||
| Q3 24 | $660.6M | $1.3B | ||
| Q2 24 | $665.3M | $1.3B | ||
| Q1 24 | $674.0M | $1.2B |
| Q4 25 | $1.2B | $5.1B | ||
| Q3 25 | $1.1B | $5.0B | ||
| Q2 25 | $1.1B | $4.8B | ||
| Q1 25 | $1.1B | $4.7B | ||
| Q4 24 | $1.0B | $4.7B | ||
| Q3 24 | $1.0B | $4.6B | ||
| Q2 24 | $990.5M | $4.4B | ||
| Q1 24 | $966.7M | $4.4B |
| Q4 25 | 0.61× | 1.23× | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.32× | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.20× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $64.5M | $63.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.5M | $63.5M | ||
| Q3 25 | $77.8M | $77.3M | ||
| Q2 25 | $78.0M | $60.8M | ||
| Q1 25 | $76.1M | $43.2M | ||
| Q4 24 | $68.2M | $41.5M | ||
| Q3 24 | $74.7M | $53.5M | ||
| Q2 24 | $64.2M | $49.3M | ||
| Q1 24 | $68.7M | $51.2M |
| Q4 25 | — | 3.92× | ||
| Q3 25 | 5.36× | 1.71× | ||
| Q2 25 | 3.11× | 2.47× | ||
| Q1 25 | 7.75× | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 8.25× | 1.39× | ||
| Q2 24 | 12.58× | 2.38× | ||
| Q1 24 | 4.23× | 4.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRNT
| Oil And Gas Service | $87.6M | 83% |
| Natural Gas Storage | $17.9M | 17% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
