Barnwell (BRN) AI Stock Analysis

• Market Cap: $13.79M
• Dividend Yield: N/A
• Average Volume (3M): 33.68K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.16
• Revenue Growth: -32.91%
• EPS Growth: -23.72%
• Country: US
• Employees: 27
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): -0.24
• Shares Outstanding: 12,538,064
• 10 Day Avg. Volume: 27,649
• 30 Day Avg. Volume: 33,684
• PEG Ratio: -0.07
• Price to Book (P/B): 1.87
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.37
• Enterprise Value/Market Cap: 0.73
• Enterprise Value/Revenue: 0.65
• Enterprise Value/Gross Profit: 6.74
• Enterprise Value/Ebitda: -2.99
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: $1.00 ▼(-13.04% Downside)

The score is held down primarily by the sharp deterioration in fundamentals (zero revenue, sizable losses, and negative operating/free cash flow). Low leverage and a recent financing provide some cushion, while technicals are neutral and valuation is weakened by unprofitability and the lack of a dividend.

Positive Factors

Low Leverage

Barnwell's low leverage provides financial stability and flexibility, allowing it to navigate through challenging market conditions without the burden of high debt.

Positive Operating Cash Flow

The ability to generate positive operating cash flow despite net losses indicates operational efficiency and potential for reinvestment in growth opportunities.

Leadership Changes

The appointment of experienced leadership in finance positions Barnwell for strategic financial management and potential turnaround in performance.

Negative Factors

Declining Revenues

Consistent revenue decline indicates challenges in market demand or operational inefficiencies, which could hinder long-term growth prospects.

Negative Profit Margins

Sustained negative profit margins reflect operational challenges and could impact the company's ability to invest in future growth and innovation.

Inconsistent Free Cash Flow

Inconsistent free cash flow limits Barnwell's ability to fund new projects or absorb financial shocks, posing a risk to long-term financial health.

Barnwell Business Overview & Revenue Model

Company Description

Barnwell Industries, Inc. acquires, develops, produces, and sells oil and natural gas in Canada. It operates through three segments: Oil and Natural Gas, Land Investment, and Contract Drilling. The company acquires and develops crude and natural gas assets in the province of Alberta; and invests in land interests in Hawaii. It also owns and operates five water well drilling rigs, two pump rigs, and other ancillary drilling and pump equipment; drills water and water monitoring wells of varying depths; installs and repairs water pumping systems; and distributes trillium flow technologies. Barnwell Industries, Inc. was incorporated in 1956 and is headquartered in Honolulu, Hawaii.

How the Company Makes Money

Barnwell generates revenue primarily through the exploration and production of oil and natural gas, which includes the sale of crude oil, natural gas liquids, and natural gas. The company earns income from its interests in various oil and gas properties, with revenue fluctuating based on market prices for these commodities. Additionally, Barnwell has revenue streams from its real estate segment, which includes rental incomes from residential and commercial properties. The company may also benefit from strategic partnerships in both the energy and real estate sectors, allowing for shared resources and expanded market reach, although specific partnerships are not detailed.

Barnwell Financial Statement Overview

Summary

Operating performance is the key weakness: 2025 shows zero revenue and a sizable net loss (-$7.1M) with negative EBIT/EBITDA, and cash flow deteriorated to negative operating and free cash flow. The main offset is a strong balance sheet with very low leverage, but equity has declined and losses are pressuring fundamentals.

Income Statement

Profitability has deteriorated sharply: the latest annual period (2025) shows zero revenue with a sizable net loss (-$7.1M), following three straight years of negative net income (2023–2025) after a strong 2022. Revenue also trended down in 2023–2024 and then collapsed in 2025, and margins turned deeply unfavorable (negative EBIT/EBITDA and net results). Strength: the company has demonstrated it can be profitable in better operating conditions (notably 2021–2022), but the most recent trajectory is decisively negative.

Balance Sheet

Leverage is very low, with minimal debt relative to equity in recent years (debt-to-equity near zero in 2022–2025), which provides financial flexibility. However, equity has declined materially from 2022 to 2025, and returns to shareholders are strongly negative in the most recent year (2025), reflecting ongoing losses. Strength is the clean debt profile; weakness is the earnings-driven pressure on equity value.

Cash Flow

Cash generation is inconsistent and has weakened recently: operating cash flow swung from positive in 2024 ($4.7M) to negative in 2025 (-$1.8M), with free cash flow also negative in 2025. The company has shown it can generate positive operating cash flow at times (2022 and 2024), but free cash flow has been negative in most years shown, indicating recurring cash burn after spending needs.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	15.51M	0.00	21.72M	25.27M	28.55M	18.11M
Gross Profit	1.49M	0.00	2.29M	4.71M	11.74M	5.04M
EBITDA	-3.34M	-3.90M	890.00K	4.40M	10.06M	9.09M
Net Income	-6.56M	-7.12M	-5.57M	-961.00K	5.51M	6.25M
Balance Sheet
Total Assets	23.76M	20.81M	30.67M	35.42M	37.22M	24.43M
Cash, Cash Equivalents and Short-Term Investments	1.15M	2.89M	4.50M	2.83M	12.80M	11.28M
Total Debt	107.00K	93.00K	7.00K	47.00K	266.00K	344.00K
Total Liabilities	15.17M	13.79M	17.61M	16.66M	18.05M	14.93M
Stockholders Equity	8.57M	7.01M	13.04M	18.74M	19.14M	9.50M
Cash Flow
Free Cash Flow	-1.04M	-1.77M	1.18M	-9.69M	-2.93M	-1.10M
Operating Cash Flow	164.00K	-1.77M	4.71M	1.94M	7.29M	831.00K
Investing Cash Flow	-3.05M	1.13M	-2.83M	-11.18M	-7.11M	3.69M
Financing Cash Flow	-310.00K	-250.00K	-226.00K	-786.00K	1.56M	2.19M

Barnwell Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRN, the sentiment is Negative. The current price of 1.15 is above the 20-day moving average (MA) of 1.13, above the 50-day MA of 1.12, and below the 200-day MA of 1.21, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.90 is Neutral, neither overbought nor oversold. The STOCH value of 46.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BRN.

Barnwell Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MXC	78 Outperform	$21.50M	14.00	9.11%	0.96%	7.26%	40.01%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
BATL	48 Neutral	$62.70M	-1.14	-164.49%	―	-4.08%	-325.73%
BRN	47 Neutral	$13.79M	-1.60	―	―	-32.91%	-23.72%
VIVK	41 Neutral	$1.22M	>-0.01	-163.97%	―	101.82%	-605.58%

Barnwell Corporate Events

Barnwell Industries announces planned chief financial officer transition

On December 30, 2025, Barnwell Industries, Inc. announced that longtime Executive Vice President, Chief Financial Officer, Treasurer, principal financial officer and principal accounting officer Russell M. Gifford will retire effective December 31, 2025. The company said that Executive Vice President-Finance Philip F. Patman, Jr. will succeed Gifford as Chief Financial Officer, Treasurer and principal financial officer, marking a planned senior management transition in the firm’s financial leadership structure.

The most recent analyst rating on (BRN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Barnwell stock, see the BRN Stock Forecast page.

Barnwell Expands Board with New Director Appointment

On November 25, 2025, Barnwell Industries, Inc. announced an increase in its Board of Directors from five to six members, effective upon the closing of a private placement offering on November 28, 2025. Joshua E. Schechter was appointed as a new board member, following the rights granted to investor Bradley L. Radoff to appoint a director. Schechter, who has held various directorial roles in other companies, will serve until the next annual meeting of stockholders.

The most recent analyst rating on (BRN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Barnwell stock, see the BRN Stock Forecast page.

Barnwell Announces Private Placement to Boost Growth

On November 24, 2025, Barnwell Industries, Inc. announced a private placement agreement with investors, including board members, to issue approximately 2.2 million shares of common stock and warrants, expecting to raise around $2.4 million. This move is part of Barnwell’s strategic repositioning to enhance profitability and shareholder value, following its exit from the water well drilling business and closure of its Hawaii headquarters. The transaction, led by Bradley Radoff, also involves appointing Joshua Schechter to the board, aiming to strengthen Barnwell’s balance sheet and support its focus on high-return investments.

The most recent analyst rating on (BRN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Barnwell stock, see the BRN Stock Forecast page.