Barnwell Industries, Inc. (BRN) AI Stock Analysis
BRN AI stock analysis summary
AI ResearchBarnwell Industries, Inc. (BRN) is an energy, contract drilling, and land investment company operating primarily in Alberta, Canada, and Hawaii. The company generated $11.7M in trailing twelve-month revenue, but faces operational headwinds with a net profit margin of -46.7%. Its balance sheet maintains financial flexibility with $4.4M in net cash and a debt-to-equity ratio of 0.01.
- Market cap
- $13.2M
- Revenue (TTM)
- $11.7M
- P/E
- — fwd 13.6x
- 1Y return
- -25.6% S&P 500 16.8%
- Avg. target
- —
Bull case
- Barnwell holds a solid balance sheet position with $4.4M in net cash and total debt of only $53,000 as of June 30, 2026.
- The stock trades at an EV/EBITDA multiple of 7.0x and a price-to-sales ratio of 1.1x, below the median of its US-listed Energy peers at 8.0x and 1.8x, respectively.
- Insider ownership is significant at 45.6%, aligning corporate leadership directly with equity performance.
Bear case
- Annual revenue has declined steadily from $27.1M in FY2022 to $13.7M in FY2025, contributing to a 5-year revenue CAGR of -5.7%.
- Net losses widened to -$6.9M in FY2025 and trailing twelve-month profit margin sits at -46.7%.
- Cash flow generation is negative, with operating cash flow of -$1.9M and free cash flow of -$4.9M reported in FY2025.
What Barnwell Industries does
Barnwell Industries, Inc. acquires, develops, produces, and sells crude oil and natural gas properties located primarily in Alberta, Canada. The company operates through three segments: Oil and Natural Gas, Land Investment, and Contract Drilling. In addition to Canadian energy assets, Barnwell holds land investment interests in Hawaii. Its contract drilling segment owns and operates five water well drilling rigs, two pump rigs, and ancillary equipment, specializing in drilling water and water monitoring wells and servicing water pumping systems. The company also distributes Trillium Flow Technologies fluid handling products.
Growth and profitability
Barnwell Industries generated annual revenue of $16.2M in FY2021, which grew 67.6% to $27.1M in FY2022. Top-line results subsequently declined to $25.0M in FY2023, $21.7M in FY2024, and fell 36.9% to $13.7M in FY2025. Over the 5-year period from FY2020 to FY2025, revenue contracted at a CAGR of -5.7%. Net income swung from $6.3M in FY2021 and $5.5M in FY2022 to losses of -$961,000 in FY2023, -$5.6M in FY2024, and -$6.9M in FY2025. For the latest quarter ended June 30, 2026, quarterly revenue grew 5.9% year-over-year, while quarterly earnings growth was -0.6%. Trailing twelve-month revenue stands at $11.7M with an operating margin of -18.2%.
Balance sheet and cash flow
As of June 30, 2026, Barnwell Industries held $4.5M in cash and short-term investments against total debt of $53,000, resulting in net cash of $4.4M. Shareholders' equity was $8.9M out of $21.5M in total assets, yielding a current ratio of 1.90 and a debt-to-equity ratio of 0.01. Operating cash flow in FY2025 was -$1.9M, while capital expenditures were $3.1M, generating free cash flow of -$4.9M. The company's 5-year share count change increased by 51.5%.
Valuation and performance
With a market cap of $13.2M and enterprise value of $9.9M, Barnwell trades at a price-to-sales multiple of 1.1x and an EV/EBITDA of 7.0x, both below the median of its US-listed Energy peers of 1.8x and 8.0x, respectively. Its forward P/E is 13.6x compared to 12.7x for its peer group median, alongside a PEG ratio of 0.60. Over the past year, BRN shares generated a return of -25.6%, underperforming the 16.8% return for the S&P 500 (SPY). Over 5 years, BRN returned -68.8% versus 83.0% for the benchmark.
What analysts expect
Barnwell Industries has no published sell-side analyst rating counts, price targets, or earnings surprise records reported. The stock trades with an implied forward P/E ratio of 13.6x and a PEG ratio of 0.60. The company does not have a scheduled next earnings report date on record. With a market capitalization of $13.2M and beta of 0.10, the company exhibits low trading correlation with the broader market but lacks formal Wall Street consensus estimates.
Key risks and what to watch
- Dilution risk remains elevated after Barnwell's 5-year share count increased by 51.5%.
- Ongoing negative profitability is reflected in a trailing twelve-month return on equity of -61.2% and return on assets of -14.9%.
- The company's quarterly revenue growth of 5.9% significantly lags the 23.1% median growth of its US-listed Energy peers.
- Stock performance has lagged broader markets considerably, with a 5-year return of -68.8% compared to 83.0% for SPY.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this BRN AI stock analysis
This page is an AI-written research summary of Barnwell Industries, Inc. (BRN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: BRN income statement, BRN balance sheet, BRN key metrics, BRN chart. See the BRN stock overview for the latest quote and news.
BRN AI stock analysis FAQ
What businesses does Barnwell Industries operate?
Barnwell Industries operates in three main areas: acquiring and producing oil and natural gas properties in Alberta, Canada; investing in land interests in Hawaii; and operating a contract drilling business that drills water wells and distributes fluid handling products.
Does Barnwell Industries carry high debt?
No, Barnwell holds total debt of $53,000 against $4.5M in cash and short-term investments as of June 30, 2026, giving it a net cash balance of $4.4M and a debt-to-equity ratio of 0.01.
Does BRN pay a dividend?
Barnwell Industries does not currently pay a dividend.
Who owns Barnwell Industries stock?
Company insiders own 45.6% of Barnwell Industries, while institutional investors hold 22.5%, and short interest accounts for 0.4% of the float.