Greenfire Resources Ltd (GFR) Balance Sheet

NYSE: GFRAssets, liabilities, debt and equity over 3 years.

GFR balance sheet, 2025

December 31, 2025 · Canadian dollars

C$1.29B assets = C$118.7M liabilities + C$1.17B equity

Both columns are drawn to the same scale: what GFR owns equals what it owes plus shareholders’ equity. Hover a block for its value.

GFR financial health

Current ratio1.56

Comfortable · current assets cover current liabilities 1.56×

Debt / equity0.01

Low leverage · C$0.01 of debt for each $1 of equity

Equity / assets90.8%

Equity-funded · of assets funded by shareholders

Cash / debt687.5%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

GFR balance sheet trends, 2020–2025

Greenfire Resources Ltd balance sheet trends
Metric	Then	Latest	Change
Total assets	C$02020	C$1.29B2025	—
Total liabilities	C$60,0002020	C$118.7M2025	+4,348.0%/yr
Shareholders’ equity	−C$60,0002020	C$1.17B2025	—
Cash & short-term investments	C$02020	C$42.0M2025	—
Total debt	C$338.2M2024	C$6.1M2025	−98.2%/yr
Net cash (debt)	−C$270.8M2024	C$35.9M2025	+C$306.7M
Working capital	−C$60,0002020	C$53.4M2025	+C$53.5M
Current ratio	0.002020	1.562025	+1.56
Debt / equity	0.412024	0.012025	−0.41
Shares outstanding	37.5M2020	72.5M2025	+39.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

GFR assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

GFR liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

GFR debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

GFR balance sheet in Canadian dollars

Greenfire Resources Ltd annual balance sheet
	2025	2024	2020
Assets
Cash & short-term investments	C$42.0M	C$67.4M	C$0
Cash & equivalents	C$42.0M	C$67.4M	C$0
Receivables	C$66.3M	C$47.4M	C$0
Inventory	C$20.6M	C$14.9M	C$0
Other current assets	C$20.5M	C$14.5M	C$0
Total current assets	C$149.3M	C$144.2M	C$0
Property, plant & equipment (net)	C$991.1M	C$960.1M	C$0
Goodwill & intangible assets	C$0	C$0	C$0
Long-term investments	C$0	C$0	C$0
Other non-current assets	C$146.3M	C$153.2M	C$0
Total assets	C$1.29B	C$1.26B	C$0
Liabilities
Accounts payable	C$11.3M	C$6.3M	C$60,000
Short-term debt	C$3.3M	C$255.5M	—
Deferred revenue	—	−C$45.2M	—
Total current liabilities	C$95.9M	C$335.9M	C$60,000
Long-term debt	C$0	C$80.4M	C$0
Lease obligations	C$6.1M	C$9.3M	—
Other long-term liabilities	C$22.8M	C$19.7M	C$0
Total liabilities	C$118.7M	C$436.0M	C$60,000
Shareholders' equity
Common stock & paid-in capital	C$462.9M	C$164.4M	—
Retained earnings (deficit)	C$696.3M	C$648.1M	−C$60,000
Total shareholders' equity	C$1.17B	C$821.4M	−C$60,000
Key figures
Total debt	C$6.1M	C$338.2M	—
Net cash (debt)	C$35.9M	−C$270.8M	—
Working capital	C$53.4M	−C$191.6M	−C$60,000
Tangible book value	C$1.17B	C$821.4M	−C$60,000
Shares outstanding	72.5M	71.6M	37.5M
Current ratio	1.56	0.43	0.00
Quick ratio	1.13	0.34	0.00
Debt / equity	0.01	0.41	—
Equity / assets	90.8%	65.3%	—

Greenfire Resources Ltd quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	C$3.0M	C$543,617	C$42.0M	C$37.7M	C$70.0M	C$72.2M	C$67.4M	C$37.7M	C$160.0M	C$90.2M	C$109.5M	C$66.0M
Cash & equivalents	C$3.0M	C$543,617	C$42.0M	C$37.7M	C$70.0M	C$72.2M	C$67.4M	C$37.7M	C$160.0M	C$90.2M	C$109.5M	C$66.0M
Receivables	C$69.6M	C$83.3M	C$66.2M	C$48.7M	C$60.4M	C$55.3M	C$47.4M	C$48.7M	C$18.3M	C$41.5M	C$22.5M	C$33.2M
Inventory	C$21.4M	C$19.8M	C$20.6M	C$16.1M	C$18.6M	C$12.6M	C$14.9M	C$16.1M	C$13.5M	C$12.5M	C$13.9M	C$14.3M
Other current assets	C$11.5M	C$7.0M	C$20.4M	C$15.9M	C$38.7M	C$13.0M	C$14.5M	C$15.9M	C$13.0M	C$14.1M	C$18.0M	C$53.5M
Total current assets	C$105.4M	C$110.6M	C$149.2M	C$118.4M	C$187.7M	C$153.2M	C$144.2M	C$118.4M	C$204.8M	C$158.3M	C$163.8M	C$166.9M
Property, plant & equipment (net)	C$1.06B	C$1.02B	C$990.1M	C$977.1M	C$956.5M	C$967.0M	C$960.1M	C$977.1M	C$974.0M	C$967.4M	C$941.4M	C$937.8M
Goodwill & intangible assets	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Long-term investments	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$151.5M	C$166.3M	C$146.2M	C$68.3M	C$141.3M	C$150.0M	C$153.2M	C$68.3M	C$68.3M	C$68.3M	C$68.3M	C$94.2M
Total assets	C$1.31B	C$1.30B	C$1.29B	C$1.16B	C$1.29B	C$1.27B	C$1.26B	C$1.16B	C$1.25B	C$1.19B	C$1.17B	C$1.20B
Liabilities
Accounts payable	—	C$84.7M	C$11.2M	C$52.8M	C$52.1M	C$64.1M	C$6.3M	C$52.8M	C$82.8M	C$60.6M	C$6.3M	C$49.4M
Short-term debt	C$2.4M	C$1.3M	C$3.3M	C$97.5M	C$10.0M	C$18.6M	C$255.5M	C$97.5M	C$128.5M	C$82.0M	C$50.3M	C$73.5M
Deferred revenue	—	—	—	—	—	—	−C$45.2M	—	C$1.1M	C$1.1M	C$1.1M	C$5.2M
Total current liabilities	C$110.4M	C$168.5M	C$95.8M	C$176.6M	C$66.6M	C$93.0M	C$335.9M	C$176.6M	C$264.4M	C$207.8M	C$130.3M	C$168.0M
Long-term debt	C$24.6M	C$2.4M	C$0	C$311.1M	C$309.6M	C$317.4M	C$80.4M	C$218.1M	C$275.5M	C$313.4M	C$332.0M	C$313.2M
Lease obligations	C$7.5M	C$7.0M	C$6.1M	C$7.6M	C$8.8M	C$10.0M	C$9.3M	C$10.9M	C$11.4M	C$12.8M	C$13.7M	C$13.8M
Other long-term liabilities	C$30.2M	C$33.7M	C$22.8M	C$0	C$22.3M	C$21.6M	C$19.7M	C$26.6M	C$26.2M	C$24.6M	C$16.2M	C$18.1M
Total liabilities	C$165.2M	C$204.6M	C$118.6M	C$421.4M	C$398.5M	C$432.0M	C$436.0M	C$421.4M	C$566.0M	C$545.8M	C$478.5M	C$499.2M
Shareholders' equity
Common stock & paid-in capital	C$462.9M	C$462.5M	C$462.9M	C$162.5M	C$166.8M	C$164.9M	C$164.4M	C$162.5M	C$161.1M	C$159.5M	C$158.5M	C$158.5M
Retained earnings (deficit)	C$676.1M	C$622.2M	C$695.6M	C$569.5M	C$713.0M	C$664.3M	C$648.1M	C$569.5M	C$510.6M	C$479.8M	C$526.7M	C$531.4M
Total shareholders' equity	C$1.15B	C$1.09B	C$1.17B	C$742.4M	C$887.0M	C$838.1M	C$821.4M	C$742.4M	C$681.1M	C$648.2M	C$695.0M	C$699.7M
Key figures
Total debt	C$32.1M	C$9.4M	C$6.1M	C$319.4M	C$323.5M	C$339.6M	C$338.2M	C$319.4M	C$408.0M	C$400.8M	C$390.1M	C$396.6M
Net cash (debt)	−C$29.2M	−C$8.8M	C$35.9M	−C$281.7M	−C$253.5M	−C$267.4M	−C$270.8M	−C$281.7M	−C$248.0M	−C$310.5M	−C$280.5M	−C$330.6M
Working capital	−C$5.0M	−C$57.9M	C$53.4M	−C$58.2M	C$121.1M	C$60.1M	−C$191.6M	−C$58.2M	−C$59.6M	−C$49.5M	C$33.5M	−C$1.0M
Tangible book value	C$1.15B	C$1.09B	C$1.17B	C$742.4M	C$887.0M	C$838.1M	C$821.4M	C$742.4M	C$681.1M	C$648.2M	C$695.0M	C$699.7M
Shares outstanding	70.3M	70.3M	70.3M	72.2M	70.2M	70.5M	71.9M	72.2M	72.1M	68.7M	68.6M	51.1M
Current ratio	0.96	0.66	1.56	0.67	2.82	1.65	0.43	0.67	0.77	0.76	1.26	0.99
Quick ratio	0.66	0.50	1.13	0.49	1.96	1.37	0.34	0.49	0.67	0.63	1.01	0.59
Debt / equity	0.03	0.01	0.01	0.43	0.36	0.41	0.41	0.43	0.60	0.62	0.56	0.57
Equity / assets	87.4%	84.2%	90.8%	63.8%	69.0%	66.0%	65.3%	63.8%	54.6%	54.3%	59.2%	58.4%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed March 13, 2026); data from EODHD.

GFR financial position

At the end of fiscal 2025 (December 31, 2025), Greenfire Resources had total assets of C$1.3 billion (up 2.3% from a year earlier), total liabilities of C$118.7 million and shareholders' equity of C$1.2 billion. It held C$42.0 million in cash and short-term investments against C$6.1 million of debt, a net cash position of C$35.9 million. Its current ratio was 1.56. In the latest quarter (ended June 30, 2026) total assets were C$1.3 billion and equity C$1.1 billion.

Related: GFR income statement, GFR cash flow statement, GFR key metrics. See the GFR stock overview for the latest quote and news.

GFR balance sheet FAQ

What are Greenfire Resources's total assets?

Greenfire Resources reported total assets of C$1.3 billion at the end of fiscal 2025 (December 31, 2025), compared with C$1.3 billion a year earlier.

How much debt does Greenfire Resources have?

Greenfire Resources had C$6.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.

How much cash does Greenfire Resources have?

Greenfire Resources held C$42.0 million in cash and short-term investments at the end of fiscal 2025; with C$6.1 million of debt that is net cash of C$35.9 million.

What is Greenfire Resources's book value?

Greenfire Resources's shareholders' equity (book value) was C$1.2 billion at the end of fiscal 2025.

What is Greenfire Resources's current ratio?

Greenfire Resources had current assets of C$149.3 million and current liabilities of C$95.9 million, a current ratio of 1.56 (it can cover its short-term obligations).