# BARNWELL INDUSTRIES, INC. (BRN) · Edgar & Edgarette company card

> Barnwell Industries, Inc. (BRN) saw revenue fall 23.9% in FY2025 to $14 million, operating margin 0.2% against a 16.8% median for crude petroleum & natural gas, equity 33.7% of assets, and its dividend per share fell in the latest year on record. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 10048 · fiscal year ended 2025-09-30 · 5 audited years read · [page](https://www.pops4.com/boards/company/BRN) · [JSON](https://www.pops4.com/boards/company/BRN.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $14M |
| Revenue growth, 1 year | -23.9% |
| Revenue growth per year | -6.7% |
| Operating margin | 0.2% (prior year 1.7%) |
| Net margin | -51.9% |
| Operating cash flow | — |
| Capital spending | $254,000 |
| Free cash flow | — |
| Cash | $3M |
| Long-term debt | — |
| Total assets | $21M |
| Total equity | $7M |
| Equity ÷ assets | 33.7% |
| Return on equity | -101.5% |
| Dividend per share | $0 |
| Dividend years rising | 0 |

## Readings, computed from those figures

- Altman Z: -0.32 (distress zone)
- Piotroski F: 3 of 9 (3 of 6 tested)
- Health Harbor boat: Weathered boat · two warning signs · filed late quarterly report notice in the last 12 months; revenue is hard to predict: its 80% range is ±56%

## Edgarette's reading

Exposure: revenue $13.7M (FY2025). Experience: revenue down 23.9% on the year, down 6.7% a year over 4 years; operating margin 0.2%, down from 1.7%. Soundness: equity 33.7% of assets, return on equity -101.5%, the dividend per share fell in the latest year on record. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $5.5M and $19.7M next year (method v4.1: its own 6-year record of growth weighed at 63% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $5.0M to $21.5M. A statistical range, not company guidance. Against peers (45 filers, $50M+ revenue, crude petroleum & natural gas): operating margin 0.2% against a 16.8% median; growth -23.9% against 7.8%.

## Health Watch, last 12 months

- Item NT 10-Q Late quarterly report notice: 2, latest 2026-05-15 ([filing](https://www.sec.gov/Archives/edgar/data/10048/000114036126021697/0001140361-26-021697-index.htm))
- Item 5.02 Director or officer change: 3, latest 2026-07-06 ([filing](https://www.sec.gov/Archives/edgar/data/10048/000114036126027633/0001140361-26-027633-index.htm))

## Recent filings

- 8-K · filed 2026-10-19 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/10048/000114036126039979/0001140361-26-039979-index.htm)
- 8-K · filed 2026-10-06 · 1.01 Entry into a Material Definitive Agreement; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/10048/000114036126038710/0001140361-26-038710-index.htm)
- 8-K · filed 2026-10-05 · 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/10048/000114036126038648/0001140361-26-038648-index.htm)
- 8-K · filed 2026-09-16 · 2.01 Completion of Acquisition or Disposition of Assets; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/10048/000114036126036721/0001140361-26-036721-index.htm)
- 8-K · filed 2026-08-12 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/10048/000114036126032289/0001140361-26-032289-index.htm)
- 10-Q · filed 2026-08-11 · [filing](https://www.sec.gov/Archives/edgar/data/10048/000162828026055512/0001628280-26-055512-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000010048.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=10048

## Cite

POPS4, Edgar & Edgarette: BARNWELL INDUSTRIES, INC. (BRN) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/BRN. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.