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Side-by-side financial comparison of Granite Ridge Resources, Inc. (GRNT) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Granite Ridge Resources, Inc. is the larger business by last-quarter revenue ($128.3M vs $97.9M, roughly 1.3× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs -36.7%, a 65.1% gap on every dollar of revenue. On growth, Safehold Inc. posted the faster year-over-year revenue change (6.5% vs 4.3%). Over the past eight quarters, Granite Ridge Resources, Inc.'s revenue compounded faster (18.9% CAGR vs 2.5%).
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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
GRNT vs SAFE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $128.3M | $97.9M |
| Net Profit | $-47.0M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | — | 27.4% |
| Net Margin | -36.7% | 28.5% |
| Revenue YoY | 4.3% | 6.5% |
| Net Profit YoY | — | 7.1% |
| EPS (diluted) | $-0.36 | $0.38 |
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.
| Q1 26 | $128.3M | — | ||
| Q4 25 | $105.5M | $97.9M | ||
| Q3 25 | $112.7M | $96.2M | ||
| Q2 25 | $109.2M | $93.8M | ||
| Q1 25 | $122.9M | $97.7M | ||
| Q4 24 | $106.3M | $91.9M | ||
| Q3 24 | $94.1M | $90.7M | ||
| Q2 24 | $90.7M | $89.9M |
| Q1 26 | $-47.0M | — | ||
| Q4 25 | — | $27.9M | ||
| Q3 25 | $14.5M | $29.3M | ||
| Q2 25 | $25.1M | $27.9M | ||
| Q1 25 | $9.8M | $29.4M | ||
| Q4 24 | — | $26.0M | ||
| Q3 24 | $9.1M | $19.3M | ||
| Q2 24 | $5.1M | $29.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 98.6% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.8% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 98.8% | ||
| Q2 24 | — | 98.8% |
| Q1 26 | — | — | ||
| Q4 25 | -34.5% | 27.4% | ||
| Q3 25 | 17.4% | 25.9% | ||
| Q2 25 | 19.0% | 25.5% | ||
| Q1 25 | 34.6% | 25.9% | ||
| Q4 24 | -6.5% | 24.6% | ||
| Q3 24 | 26.2% | 17.5% | ||
| Q2 24 | 24.1% | 26.7% |
| Q1 26 | -36.7% | — | ||
| Q4 25 | — | 28.5% | ||
| Q3 25 | 12.9% | 30.5% | ||
| Q2 25 | 23.0% | 29.8% | ||
| Q1 25 | 8.0% | 30.1% | ||
| Q4 24 | — | 28.3% | ||
| Q3 24 | 9.6% | 21.3% | ||
| Q2 24 | 5.6% | 33.0% |
| Q1 26 | $-0.36 | — | ||
| Q4 25 | $-0.19 | $0.38 | ||
| Q3 25 | $0.11 | $0.41 | ||
| Q2 25 | $0.19 | $0.39 | ||
| Q1 25 | $0.07 | $0.41 | ||
| Q4 24 | $-0.09 | $0.36 | ||
| Q3 24 | $0.07 | $0.27 | ||
| Q2 24 | $0.04 | $0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $21.7M |
| Total DebtLower is stronger | $26.3M | $4.6B |
| Stockholders' EquityBook value | $545.6M | $2.4B |
| Total Assets | $1.2B | $7.2B |
| Debt / EquityLower = less leverage | 0.05× | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $21.7M | ||
| Q3 25 | — | $12.1M | ||
| Q2 25 | — | $13.9M | ||
| Q1 25 | — | $17.3M | ||
| Q4 24 | — | $8.3M | ||
| Q3 24 | — | $15.6M | ||
| Q2 24 | — | $13.4M |
| Q1 26 | $26.3M | — | ||
| Q4 25 | $367.8M | $4.6B | ||
| Q3 25 | $300.0M | $4.5B | ||
| Q2 25 | $275.0M | $4.4B | ||
| Q1 25 | $250.0M | $4.3B | ||
| Q4 24 | $205.0M | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B |
| Q1 26 | $545.6M | — | ||
| Q4 25 | $605.8M | $2.4B | ||
| Q3 25 | $643.9M | $2.4B | ||
| Q2 25 | $642.5M | $2.4B | ||
| Q1 25 | $631.4M | $2.4B | ||
| Q4 24 | $635.4M | $2.3B | ||
| Q3 24 | $660.6M | $2.3B | ||
| Q2 24 | $665.3M | $2.3B |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $7.2B | ||
| Q3 25 | $1.1B | $7.1B | ||
| Q2 25 | $1.1B | $7.1B | ||
| Q1 25 | $1.1B | $6.9B | ||
| Q4 24 | $1.0B | $6.9B | ||
| Q3 24 | $1.0B | $6.8B | ||
| Q2 24 | $990.5M | $6.8B |
| Q1 26 | 0.05× | — | ||
| Q4 25 | 0.61× | 1.90× | ||
| Q3 25 | 0.47× | 1.89× | ||
| Q2 25 | 0.43× | 1.87× | ||
| Q1 25 | 0.40× | 1.85× | ||
| Q4 24 | 0.32× | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× |
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 | $58.3M | $47.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 47.1% | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $58.3M | — | ||
| Q4 25 | $64.5M | $47.8M | ||
| Q3 25 | $77.8M | $-1.4M | ||
| Q2 25 | $78.0M | $28.0M | ||
| Q1 25 | $76.1M | $8.9M | ||
| Q4 24 | $68.2M | $37.9M | ||
| Q3 24 | $74.7M | $8.3M | ||
| Q2 24 | $64.2M | $24.8M |
| Q1 26 | 47.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.72× | ||
| Q3 25 | 5.36× | -0.05× | ||
| Q2 25 | 3.11× | 1.00× | ||
| Q1 25 | 7.75× | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | 8.25× | 0.43× | ||
| Q2 24 | 12.58× | 0.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRNT
| Oil sales | $103.4M | 81% |
| Natural gas and related product sales | $24.8M | 19% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
