Greenfire Resources Ltd. (GFR) intrinsic value & 10-year financials
Greenfire Resources Ltd. (GFR) has a Graham intrinsic value of CAD 62.45 per share. Over the last 3 fiscal years revenue grew 58.0% a year to CAD 652.3M, with an average return on invested capital of -0.5%.
- Graham intrinsic value
- CAD 62.45
- Revenue (FY2023)
- CAD 652.3M
- Revenue growth (3-yr CAGR)
- 58.0%
- ROIC (10-yr avg)
- -0.5%
- Free cash flow (FY2023)
- CAD 53.1M
GFR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2023 | CAD 652.3M | -CAD 135.7M | -CAD 2.49 | CAD 53.1M | — | -13.4% |
| FY2022 | CAD 948.8M | CAD 131.7M | CAD 1.88 | CAD 125.1M | — | 12.5% |
| FY2021 | CAD 261.1M | CAD 661.4M | CAD 13.75 | CAD 27.4M | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in CAD.
Executive summary
Greenfire Resources Ltd. is a consistent compounder, expanding top-line revenue at 58.0% annually over the past decade.
Greenfire Resources Ltd. has historically struggled to out-earn its cost of capital, averaging just -0.5% ROIC.
Greenfire Resources Ltd. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Greenfire Resources Ltd. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $62.45 per share.