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Side-by-side financial comparison of Granite Ridge Resources, Inc. (GRNT) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
National Storage Affiliates Trust is the larger business by last-quarter revenue ($187.0M vs $105.5M, roughly 1.8× Granite Ridge Resources, Inc.). On growth, Granite Ridge Resources, Inc. posted the faster year-over-year revenue change (-0.8% vs -1.6%). Over the past eight quarters, Granite Ridge Resources, Inc.'s revenue compounded faster (8.9% CAGR vs -2.4%).
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.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
GRNT vs NSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $187.0M |
| Net Profit | — | $22.9M |
| Gross Margin | — | 72.5% |
| Operating Margin | -34.5% | 20.2% |
| Net Margin | — | 12.2% |
| Revenue YoY | -0.8% | -1.6% |
| Net Profit YoY | — | 36.8% |
| EPS (diluted) | $-0.19 | $0.23 |
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 | $187.0M | ||
| Q3 25 | $112.7M | $188.7M | ||
| Q2 25 | $109.2M | $188.8M | ||
| Q1 25 | $122.9M | $188.4M | ||
| Q4 24 | $106.3M | $190.1M | ||
| Q3 24 | $94.1M | $193.6M | ||
| Q2 24 | $90.7M | $190.4M | ||
| Q1 24 | $89.0M | $196.1M |
| Q4 25 | — | $22.9M | ||
| Q3 25 | $14.5M | $18.4M | ||
| Q2 25 | $25.1M | $19.5M | ||
| Q1 25 | $9.8M | $13.0M | ||
| Q4 24 | — | $16.7M | ||
| Q3 24 | $9.1M | $18.7M | ||
| Q2 24 | $5.1M | $17.1M | ||
| Q1 24 | $16.2M | $59.0M |
| Q4 25 | — | 72.5% | ||
| Q3 25 | — | 70.7% | ||
| Q2 25 | — | 70.5% | ||
| Q1 25 | — | 70.7% | ||
| Q4 24 | — | 72.5% | ||
| Q3 24 | — | 72.8% | ||
| Q2 24 | — | 72.6% | ||
| Q1 24 | — | 72.1% |
| Q4 25 | -34.5% | 20.2% | ||
| Q3 25 | 17.4% | 15.8% | ||
| Q2 25 | 19.0% | 16.5% | ||
| Q1 25 | 34.6% | 11.0% | ||
| Q4 24 | -6.5% | 14.5% | ||
| Q3 24 | 26.2% | 15.8% | ||
| Q2 24 | 24.1% | 17.2% | ||
| Q1 24 | 22.0% | 48.9% |
| Q4 25 | — | 12.2% | ||
| Q3 25 | 12.9% | 9.8% | ||
| Q2 25 | 23.0% | 10.3% | ||
| Q1 25 | 8.0% | 6.9% | ||
| Q4 24 | — | 8.8% | ||
| Q3 24 | 9.6% | 9.7% | ||
| Q2 24 | 5.6% | 9.0% | ||
| Q1 24 | 18.2% | 30.1% |
| Q4 25 | $-0.19 | $0.23 | ||
| Q3 25 | $0.11 | $0.17 | ||
| Q2 25 | $0.19 | $0.19 | ||
| Q1 25 | $0.07 | $0.10 | ||
| Q4 24 | $-0.09 | $0.19 | ||
| Q3 24 | $0.07 | $0.18 | ||
| Q2 24 | $0.04 | $0.16 | ||
| Q1 24 | $0.12 | $0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $23.3M |
| Total DebtLower is stronger | $367.8M | — |
| Stockholders' EquityBook value | $605.8M | $946.0M |
| Total Assets | $1.2B | $5.1B |
| Debt / EquityLower = less leverage | 0.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | — | $26.3M | ||
| Q2 25 | — | $26.1M | ||
| Q1 25 | — | $19.3M | ||
| Q4 24 | — | $50.4M | ||
| Q3 24 | — | $69.9M | ||
| Q2 24 | — | $59.0M | ||
| Q1 24 | — | $64.2M |
| Q4 25 | $367.8M | — | ||
| Q3 25 | $300.0M | — | ||
| Q2 25 | $275.0M | — | ||
| Q1 25 | $250.0M | — | ||
| Q4 24 | $205.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $137.5M | — |
| Q4 25 | $605.8M | $946.0M | ||
| Q3 25 | $643.9M | $973.1M | ||
| Q2 25 | $642.5M | $1.0B | ||
| Q1 25 | $631.4M | $1.0B | ||
| Q4 24 | $635.4M | $1.1B | ||
| Q3 24 | $660.6M | $986.9M | ||
| Q2 24 | $665.3M | $1.2B | ||
| Q1 24 | $674.0M | $1.3B |
| Q4 25 | $1.2B | $5.1B | ||
| Q3 25 | $1.1B | $5.1B | ||
| Q2 25 | $1.1B | $5.2B | ||
| Q1 25 | $1.1B | $5.3B | ||
| Q4 24 | $1.0B | $5.4B | ||
| Q3 24 | $1.0B | $5.4B | ||
| Q2 24 | $990.5M | $5.3B | ||
| Q1 24 | $966.7M | $5.4B |
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.32× | — | ||
| 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 | $338.5M |
| Free Cash FlowOCF − Capex | — | $299.8M |
| FCF MarginFCF / Revenue | — | 160.3% |
| Capex IntensityCapex / Revenue | — | 20.7% |
| Cash ConversionOCF / Net Profit | — | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | — | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.5M | $338.5M | ||
| Q3 25 | $77.8M | $100.2M | ||
| Q2 25 | $78.0M | $79.9M | ||
| Q1 25 | $76.1M | $85.6M | ||
| Q4 24 | $68.2M | $363.1M | ||
| Q3 24 | $74.7M | $105.7M | ||
| Q2 24 | $64.2M | $83.2M | ||
| Q1 24 | $68.7M | $94.0M |
| Q4 25 | — | $299.8M | ||
| Q3 25 | — | $88.0M | ||
| Q2 25 | — | $73.8M | ||
| Q1 25 | — | $79.9M | ||
| Q4 24 | — | $344.4M | ||
| Q3 24 | — | $101.8M | ||
| Q2 24 | — | $79.5M | ||
| Q1 24 | — | $88.6M |
| Q4 25 | — | 160.3% | ||
| Q3 25 | — | 46.6% | ||
| Q2 25 | — | 39.1% | ||
| Q1 25 | — | 42.4% | ||
| Q4 24 | — | 181.2% | ||
| Q3 24 | — | 52.6% | ||
| Q2 24 | — | 41.7% | ||
| Q1 24 | — | 45.2% |
| Q4 25 | — | 20.7% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | 14.79× | ||
| Q3 25 | 5.36× | 5.44× | ||
| Q2 25 | 3.11× | 4.10× | ||
| Q1 25 | 7.75× | 6.59× | ||
| Q4 24 | — | 21.70× | ||
| Q3 24 | 8.25× | 5.65× | ||
| Q2 24 | 12.58× | 4.88× | ||
| Q1 24 | 4.23× | 1.59× |
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% |
NSA
Segment breakdown not available.
