Barnwell Industries (BRN)
Market Price (12/18/2025): $1.13 | Market Cap: $11.4 MilSector: Energy | Industry: Oil & Gas Exploration & Production
Barnwell Industries (BRN)
Market Price (12/18/2025): $1.13Market Cap: $11.4 MilSector: EnergyIndustry: Oil & Gas Exploration & Production
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Megatrend and thematic driversMegatrends include US Energy Independence, and Water Infrastructure. Themes include US Oil & Gas Exploration & Production, and Hawaii Water Well Drilling & Development. | Weak multi-year price returns2Y Excs Rtn is -93%, 3Y Excs Rtn is -131% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -6.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -33% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -16%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.4%, Rev Chg QQuarterly Revenue Change % is -29% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.3%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -26% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -62% | ||
| Key risksBRN key risks include [1] substantial doubt about its ability to continue as a going concern, Show more. |
| Megatrend and thematic driversMegatrends include US Energy Independence, and Water Infrastructure. Themes include US Oil & Gas Exploration & Production, and Hawaii Water Well Drilling & Development. |
| Weak multi-year price returns2Y Excs Rtn is -93%, 3Y Excs Rtn is -131% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -6.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -33% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -16%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.4%, Rev Chg QQuarterly Revenue Change % is -29% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.3%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -26% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -62% |
| Key risksBRN key risks include [1] substantial doubt about its ability to continue as a going concern, Show more. |
Valuation, Metrics & Events
BRN Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Here are five key points explaining negative movement in Barnwell Industries (BRN) stock from approximately August 31, 2025, to December 18, 2025:
1. Challenging Quarterly Financial Results. Barnwell Industries reported challenging third-quarter 2025 financial results, which ended June 30, 2025, revealing declining revenue from continuing operations and a wider net loss compared to the previous year.
2. Ongoing Shareholder Disputes. The company was embroiled in significant shareholder disputes and proxy contests throughout 2025, particularly with the Sherwood Group. These ongoing conflicts led to multiple adjournments of the 2025 Annual Meeting, increased expenses, and management distraction, contributing to investor uncertainty.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BRN Return | 23% | 129% | 3% | -16% | -38% | -30% | 5% |
| Peers Return | -33% | 95% | 45% | 6% | 3% | 17% | 139% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| BRN Win Rate | 50% | 50% | 42% | 25% | 33% | 42% | |
| Peers Win Rate | 50% | 67% | 62% | 53% | 52% | 65% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| BRN Max Drawdown | -69% | -1% | -25% | -35% | -41% | -30% | |
| Peers Max Drawdown | -78% | -2% | 0% | -17% | -8% | -16% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: IMO, CNQ, SU, CVE, OVV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)
How Low Can It Go
| Event | BRN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -66.7% | -25.4% |
| % Gain to Breakeven | 200.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -76.6% | -33.9% |
| % Gain to Breakeven | 326.8% | 51.3% |
| Time to Breakeven | 256 days | 148 days |
| 2018 Correction | ||
| % Loss | -86.9% | -19.8% |
| % Gain to Breakeven | 660.5% | 24.7% |
| Time to Breakeven | 454 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -90.0% | -56.8% |
| % Gain to Breakeven | 898.3% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1480 days |
Compare to COP, CNQ, EOG, FANG, OXY
In The Past
Barnwell Industries's stock fell -66.7% during the 2022 Inflation Shock from a high on 1/28/2021. A -66.7% loss requires a 200.0% gain to breakeven.
Preserve Wealth
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Asset Allocation
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Latest Trefis Analyses
| Title | Topic | |
|---|---|---|
| DASHBOARDS | ||
| Barnwell Industries Earnings Notes | ||
| With Barnwell Industries Stock Climbed 14% In A Week, How Confident Are You? | Return |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select past ideas related to BRN. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WHD | Cactus | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 6.8% | 6.8% | 0.0% |
| 10172025 | OVV | Ovintiv | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.4% | 4.4% | 0.0% |
| 10102025 | COP | ConocoPhillips | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.5% | 4.5% | -2.3% |
| 10102025 | HAL | Halliburton | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 24.5% | 24.5% | -0.7% |
| 10102025 | OXY | Occidental Petroleum | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -7.1% | -7.1% | -7.1% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WHD | Cactus | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 6.8% | 6.8% | 0.0% |
| 10172025 | OVV | Ovintiv | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.4% | 4.4% | 0.0% |
| 10102025 | COP | ConocoPhillips | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.5% | 4.5% | -2.3% |
| 10102025 | HAL | Halliburton | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 24.5% | 24.5% | -0.7% |
| 10102025 | OXY | Occidental Petroleum | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -7.1% | -7.1% | -7.1% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Barnwell Industries
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 35.34 |
| Mkt Cap | 36.6 |
| Rev LTM | 45,382 |
| Op Inc LTM | 4,679 |
| FCF LTM | 3,804 |
| FCF 3Y Avg | 3,836 |
| CFO LTM | 7,214 |
| CFO 3Y Avg | 7,119 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -5.5% |
| Rev Chg 3Y Avg | -6.1% |
| Rev Chg Q | -6.0% |
| QoQ Delta Rev Chg LTM | -1.5% |
| Op Mgn LTM | 12.9% |
| Op Mgn 3Y Avg | 14.8% |
| QoQ Delta Op Mgn LTM | -1.2% |
| CFO/Rev LTM | 20.2% |
| CFO/Rev 3Y Avg | 20.1% |
| FCF/Rev LTM | 12.7% |
| FCF/Rev 3Y Avg | 11.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 36.6 |
| P/S | 1.0 |
| P/EBIT | 7.4 |
| P/E | 9.9 |
| P/CFO | 3.8 |
| Total Yield | 12.1% |
| Dividend Yield | 3.0% |
| FCF Yield 3Y Avg | 11.7% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.3% |
| 3M Rtn | -3.3% |
| 6M Rtn | 1.7% |
| 12M Rtn | 14.7% |
| 3Y Rtn | 23.2% |
| 1M Excs Rtn | -4.1% |
| 3M Excs Rtn | -4.7% |
| 6M Excs Rtn | -10.7% |
| 12M Excs Rtn | 0.2% |
| 3Y Excs Rtn | -48.1% |
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/14/2025 | 1.3% | 3.1% | 3.1% |
| 5/15/2025 | -1.6% | 4.1% | 51.6% |
| 12/16/2024 | -4.5% | -5.1% | 5.8% |
| 8/13/2024 | 1.5% | -1.8% | -3.7% |
| 5/14/2024 | -2.4% | 3.5% | -6.7% |
| 12/18/2023 | 0.9% | 9.0% | 12.2% |
| 8/11/2023 | -2.7% | 5.9% | 5.7% |
| 5/15/2023 | -1.2% | -0.8% | 3.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 9 | 12 |
| # Negative | 11 | 9 | 6 |
| Median Positive | 2.5% | 9.0% | 13.0% |
| Median Negative | -3.8% | -5.1% | -10.6% |
| Max Positive | 73.2% | 66.8% | 94.9% |
| Max Negative | -11.0% | -15.0% | -44.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 6302025 | 8132025 | 10-Q 6/30/2025 |
| 3312025 | 5152025 | 10-Q 3/31/2025 |
| 12312024 | 2142025 | 10-Q 12/31/2024 |
| 9302024 | 12172024 | 10-K 9/30/2024 |
| 6302024 | 8132024 | 10-Q 6/30/2024 |
| 3312024 | 5142024 | 10-Q 3/31/2024 |
| 12312023 | 2122024 | 10-Q 12/31/2023 |
| 9302023 | 12182023 | 10-K 9/30/2023 |
| 6302023 | 8142023 | 10-Q 6/30/2023 |
| 3312023 | 5152023 | 10-Q 3/31/2023 |
| 12312022 | 2132023 | 10-Q 12/31/2022 |
| 9302022 | 12292022 | 10-K 9/30/2022 |
| 6302022 | 8122022 | 10-Q 6/30/2022 |
| 3312022 | 5132022 | 10-Q 3/31/2022 |
| 12312021 | 2112022 | 10-Q 12/31/2021 |
| 9302021 | 12212021 | 10-K 9/30/2021 |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |