GFR (Greenfire Resources) Operating Income: $35.7 Mil (TTM As of Mar. 2026)

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GFR Greenfire Resources Ltd GFR
28 GF Score
Price $6.21
GF Value $3.23
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Greenfire Resources Operating Income?

Greenfire Resources GFR +1.64% 28 Operating Income is $35.7 Mil as of Mar. 2026. GuruFocus rates GFR with a GF Score™ of 28/100 and a GF Value™ of $3.23 (Significantly Overvalued). The stock has 6 warning signs investors should review.

Greenfire Resources's Operating Income for the three months ended in Mar. 2026 was $5.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $35.7 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Greenfire Resources's Operating Income for the three months ended in Mar. 2026 was $5.1 Mil. Greenfire Resources's Revenue for the three months ended in Mar. 2026 was $107.4 Mil. Therefore, Greenfire Resources's Operating Margin % for the quarter that ended in Mar. 2026 was 4.80%.

Greenfire Resources's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Greenfire Resources's annualized ROC % for the quarter that ended in Mar. 2026 was 1.83%. Greenfire Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -36.94%.


Greenfire Resources  (NYSE:GFR) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Greenfire Resources's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=20.596 * ( 1 - 21.66% )/( (837.288 + 926.737)/ 2 )
=16.1349064/882.0125
=1.83 %

where

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Greenfire Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-270.02/( ( (717.719 + max(-13.805, 0)) + (744.333 + max(-66.1, 0)) )/ 2 )
=-270.02/( ( 717.719 + 744.333 )/ 2 )
=-270.02/731.026
=-36.94 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(23.546 + 14.93 + 14.816) - (64.104 + 0 + 2.993)
=-13.805

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(36.331 + 14.438 + 5.081) - (61.803 + 0 + 60.147)
=-66.1

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Greenfire Resources's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=5.149/107.371
=4.80 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Greenfire Resources Operating Income Related Terms


Greenfire Resources Operating Income Historical Data

* Premium members only.

The historical data trend for Greenfire Resources's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Greenfire Resources Operating Income Chart

Greenfire Resources Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 40.65 199.11 -43.09 101.05 42.97

Greenfire Resources Quarterly Data
Dec20 Dec21 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12.01 9.97 12.72 7.84 5.15
GFR
28GF Score
Greenfire Resources Ltd GFR
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Greenfire Resources Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $35.7 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $35.7 Mil mean?
Greenfire Resources (GFR) has a Operating Income of $35.7 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Greenfire Resources and its competitors.
Is Greenfire Resources' Operating Income too high?
Greenfire Resources' current Operating Income is $35.7 Mil. Overall, Greenfire Resources has a GF Score™ of 28/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Greenfire Resources' Operating Income compare to TXO and REPX?
Greenfire Resources' Operating Income of $35.7 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Oil & Gas company?
A good Operating Income depends on the Oil & Gas industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Greenfire Resources and its competitors. Greenfire Resources's current Operating Income is $35.7 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Greenfire Resources stock overvalued right now?
Based on GuruFocus' analysis, Greenfire Resources (GFR) is currently considered Significantly Overvalued. The stock's GF Value™ is $3.23, compared to a current price of $6.21 — trading 92.3% above its estimated fair value. The current Operating Income is $35.7 Mil. Greenfire Resources' overall GF Score™ is 28/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Greenfire Resources (GFR), the current Operating Income is $35.7 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Greenfire Resources (GFR) Overvalued in 2026?

Based on GuruFocus' analysis, Greenfire Resources stock appears to be overvalued. The current stock price of $6.21 is trading 92.3% above its estimated GF Value™ of $3.23. GuruFocus considers Greenfire Resources to be Significantly Overvalued.

Key valuation signals for GFR:

  • Operating Income: $35.7 Mil
  • GF Value™: $3.23 vs. price of $6.21 (92.3% above fair value)
  • GF Score™: 28/100 with 6 warning signs

No single metric tells the full story. See the GFR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Greenfire Resources Business Description

Industry EnergyOil & Gas
Other Exchanges GFR:Canada
Address 350 - 7th Avenue S.W, Suite 800, Calgary, AB, CAN, T2P 3N9
Greenfire Resources Ltd explores, acquires, develops and produces oil and gas in the Canadian energy sector and internationally. Greenfire currently has two producing oil sand assets, Hangingstone Expansion and Hangingstone Demo. The company has one reportable operating segment which is made up of its oil sands operations based on geographic location : Athabasca oil sands region of Alberta, Canada, nature of the products sold and integration of facilities and operations. The company is actively developing its Hangingstone Facilities using SAGD, an enhanced oil recovery extraction method.
28GF Score

Get the complete analysis for GFR

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$6.21
Price
$3.23
GF Value