Kimbell Royalty Partners, LP Common Units Representing Limited Partner Interests (KRP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.27	$0.28	+3.7%	—	$106.4M	—
Q1 26	$0.21	$0.21	0.0%	—	$84.2M	—
Q4 25	$0.14	$0.21	+50.0%	—	$77.1M	—
Q3 25	$0.16	$0.21	+31.2%	—	$77.2M	—
Q2 25	$0.19	-$0.02	-110.5%	—	$77.2M	—
Q1 25	$0.16	$0.22	+37.5%	—	$90.3M	—
Q4 24	$0.18	$0.18	0.0%	—	$70.9M	—
Q3 24	$0.21	$0.21	0.0%	—	$74.2M	—
Q2 24	$0.21	$0.14	-33.3%	—	$77.6M	—
Q1 24	$0.19	$0.14	-26.3%	—	$87.9M	—
Q4 23	$0.29	$0.18	-37.9%	—	$84.5M	—
Q3 23	$0.3	$0.19	-36.7%	—	$71.8M	—
Q2 23	$0.15	$0.13	-13.3%	—	$59M	—
Q1 23	$0.2	$0.15	-25.0%	—	$57.9M	—
Q4 22	$0.31	$0.23	-25.8%	—	$65.5M	—
Q3 22	$0.34	$0.39	+14.7%	—	$74M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.62	—	—	$321.7M	—
FY24	—	-$0.12	—	—	$310.7M	—
FY23	—	$0.93	—	—	$273.2M	—
FY22	—	$1.75	—	—	$285M	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.6M	—	$66.9M	$110M	$92.9M	$178.4M	$285M	$273.2M	$310.7M	$321.7M
YoY change	-23%	—	—	+64.3%	-15.5%	+92%	+59.8%	-4.16%	+13.7%	+3.57%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.6M	—	66.9M	110M	92.9M	178.4M	285M	273.2M	310.7M	321.7M
Cost of revenue	1.9M	—	29.6M	59.8M	54.4M	47.3M	66.3M	116.8M	155.5M	145M
Gross profit	1.7M	—	37.3M	50.1M	38.6M	131.1M	218.7M	156.4M	155.1M	176.7M
Gross margin	47.7%	—	55.8%	45.6%	41.5%	73.5%	76.7%	57.2%	49.9%	54.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.5M	—	21.5M	30.8M	35.3M	39M	44.8M	49.2M	54.7M	56M
Operating expenses	3.2M	—	21.5M	30.8M	35.3M	39M	44.8M	49.2M	54.7M	56M
Operating income	-775K	—	15.8M	19.3M	3.3M	92.1M	173.9M	107.2M	100.5M	120.7M
Operating margin	-21.5%	—	23.6%	17.6%	3.52%	51.6%	61%	39.2%	32.3%	37.5%
Non-operating income, net	-5M	—	-64M	-170.8M	-253.8M	-40.4M	-30.3M	2M	-63.5M	12.1M
Pretax income	-6.2M	—	-52.3M	-157.3M	-257M	42.5M	133.5M	86.8M	10.3M	98.3M
Income tax	19.8K	—	24.7K	899.4K	-885.2K	74.1K	2.7M	3.8M	-771.3K	-1.3M
Net income	-6.2M	—	-52.3M	-158.2M	-256.1M	42.4M	130.8M	83M	11.1M	99.7M
Net margin	-172.3%	—	-78.1%	-143.9%	-275.6%	23.8%	45.9%	30.4%	3.56%	31%
EBITDA	829.2K	—	41M	71.7M	52.2M	131.6M	234.7M	207.3M	235.9M	245.6M
EPS	-0.38	0	-3.08	-3.92	-4.85	0.56	1.75	0.93	-0.12	0.62
Diluted EPS	-0.38	0	-3.08	-3.92	-4.85	0.51	1.72	0.91	-0.12	0.62

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	71.8M	84.5M	87.9M	77.6M	74.2M	70.9M	90.3M	77.2M	77.2M	77.1M	84.2M	106.4M
Cost of revenue	28M	41.9M	44.7M	38.6M	36.5M	35.7M	36.5M	36.2M	36.7M	35.7M	35.2M	38.4M
Gross profit	43.7M	42.7M	43.2M	39M	37.7M	35.1M	53.8M	41M	40.5M	41.4M	49M	68M
Gross margin	60.9%	50.5%	49.2%	50.3%	50.8%	49.6%	59.6%	53.1%	52.5%	53.7%	58.2%	63.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	13.9M	12.5M	14M	14.1M	13.1M	13.5M	14.1M	12.6M	15.1M	14.2M	14.6M	14.4M
Operating expenses	13.9M	12.5M	14M	14.1M	13.1M	13.5M	14.1M	12.6M	15.1M	14.2M	14.6M	14.4M
Operating income	29.9M	30.2M	29.2M	24.9M	24.7M	21.6M	39.6M	28.4M	25.4M	27.2M	34.5M	53.6M
Operating margin	41.6%	35.7%	33.2%	32.1%	33.2%	30.5%	43.9%	36.8%	32.9%	35.3%	40.9%	50.4%
Non-operating income, net	-4.6M	-3.5M	-11.7M	-1M	9.6M	-60.3M	-6.1M	9.3M	3.4M	5.4M	-18.7M	6.1M
Pretax income	18.6M	19.2M	10.3M	16.9M	27.7M	-44.6M	26.9M	28.8M	19.1M	23.5M	7.6M	51.3M
Income tax	128.4K	1.3M	922.6K	1.8M	1.9M	-5.4M	1.1M	2.2M	-3.3M	-1.3M	703K	4M
Net income	18.5M	17.8M	9.3M	15.2M	25.8M	-39.3M	25.9M	26.7M	22.3M	24.8M	6.9M	47.3M
Net margin	25.7%	21.1%	10.6%	19.6%	34.8%	-55.4%	28.6%	34.5%	28.9%	32.2%	8.24%	44.5%
EBITDA	53M	66.4M	67.5M	58M	56.9M	53.5M	70.8M	59M	56.5M	59.3M	63.9M	83.9M
EPS	0.2	0.14	0.04	0.11	0.22	-0.48	0.2	0.02	0.19	0.21	0.04	0.4
Diluted EPS	0.19	0.14	0.04	0.11	0.22	-0.48	0.2	0.02	0.19	0.21	0.04	0.4

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	250.4M	—	—	—	—	—	—	—	1.9B
Enterprise value	—	—	322M	—	—	—	—	—	—	—	2.2B
Shares outstanding	16.3M	—	18.4M	21.2M	34.5M	40.4M	54.1M	66.6M	76.2M	90.8M	90.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	—	—	—	17.2
P/S	—	—	3.74	—	—	—	—	—	—	—	5.44
P/B	—	—	0.38	—	—	—	—	—	—	—	2.5
EV/EBITDA	—	—	7.85	—	—	—	—	—	—	—	8.33
EV/Sales	—	—	4.81	—	—	—	—	—	—	—	6.27
Earnings yield	—	—	—	—	—	—	—	—	—	—	5.83%
FCF yield	—	—	-71.2%	—	—	—	—	—	—	—	8.4%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	47.7%	—	55.8%	45.6%	41.5%	73.5%	76.7%	57.2%	49.9%	54.9%	63.9%
Operating margin	-21.5%	—	23.6%	17.6%	3.52%	51.6%	61%	39.2%	32.3%	37.5%	56.1%
Net margin	-172.3%	—	-78.1%	-143.9%	-275.6%	23.8%	45.9%	30.4%	3.56%	31%	25.8%
ROE	-72%	—	-7.9%	-24.7%	-67.7%	12.2%	16.1%	8.07%	1.28%	12.9%	12.4%
ROA	-30.2%	—	-6.94%	-21.1%	-45.4%	7.06%	12.1%	6.2%	0.99%	8.11%	6.56%
ROIC	-4.14%	—	2.16%	2.65%	0.6%	16.4%	16.6%	7.93%	9.37%	10.3%	11.1%
Return on tangible assets	-30.2%	—	-6.94%	-21.1%	-45.4%	7.06%	12.1%	6.2%	0.99%	8.11%	7.64%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.13	5.63	9.9	6.28	3.23	1.6	4.01	7.95	6.69	8.64	7.3
Quick ratio	1.13	5.63	9.9	6.28	3.23	1.6	4.01	7.95	6.69	8.64	7.3
Debt / equity	1.23	0.12	0.13	0.16	0.46	0.63	0.29	0.29	0.28	0.58	0.58
Debt / assets	0.52	0.1	0.12	0.14	0.31	0.37	0.22	0.22	0.22	0.36	0.36
Net debt / EBITDA	12.2	—	1.74	1.24	3.15	1.62	0.9	1.28	0.88	1.64	1.66
Interest coverage	-13.6	—	-11.8	-26.1	-39	5.63	10.7	4.34	1.39	3.85	3.86
Effective tax rate	0%	—	0%	0%	0%	0.17%	2.05%	4.34%	0%	0%	0.12%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	0.22	—	3.63	5.19	2.69	4.42	5.27	4.1	4.07	3.54	3.71
EPS (basic)	-0.38	0	-3.08	-3.92	-4.85	0.56	1.75	0.93	-0.12	0.62	0.62
EPS (diluted)	-0.38	0	-3.08	-3.92	-4.85	0.51	1.72	0.91	-0.12	0.62	0.85
Book value per share	0.53	—	35.9	30.2	11	8.63	15	15.4	11.3	8.51	5.84
FCF per share	0.06	—	-9.67	3.21	-0.76	0.88	0.47	-4.75	3.29	0.25	1.63
Cash per share	0.03	—	0.86	0.67	0.28	0.17	0.46	0.47	0.45	0.48	0.45
Capex per share	0.01	—	10.9	0.6	2.57	1.39	2.61	7.37	0	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.7%	—	300.2%	11.6%	95.3%	31.4%	49.6%	179.7%	0.07%	—	—
Capex / operating cash flow	-2.5%	—	-679.7%	-13.8%	-44.9%	78.8%	80.3%	269.8%	0.12%	—	—
Payout ratio	0%	—	-78.3%	-49.8%	-21.4%	169%	96.9%	184.3%	1.7K%	187.9%	177.7%
Dividend yield	—	—	16.3%	—	—	—	—	—	—	—	13%

Yield

13%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.47

ex-dividend Aug 17, 2026

Payout ratio

178%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 17, 2026	$0.47
May 19, 2026	$0.41
Mar 18, 2026	$0.37
Nov 17, 2025	$0.35
Aug 18, 2025	$0.38
May 20, 2025	$0.47
Mar 18, 2025	$0.40
Nov 18, 2024	$0.41

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$71.8M	$84.5M	$87.9M	$77.6M	$74.2M	$70.9M	$90.3M	$77.2M	$77.2M	$77.1M	$84.2M	$106.4M
YoY change	-3.05%	+29.1%	+52%	+31.5%	+3.42%	-16.2%	+2.64%	-0.53%	+3.98%	+8.78%	-6.69%	+37.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	505.9K	5.6M	15.8M	14.2M	9.8M	7.1M	24.6M	31M	34.2M	44M
Receivables	818.5K	7M	18.9M	19.2M	18.5M	38.2M	50.6M	60.7M	48.7M	38M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	1.3M	12.7M	37.6M	34.1M	28.3M	45.4M	75.2M	103.1M	85.3M	88.5M
Property, plant & equipment	-51.6M	-15.4M	-107.3M	-324.2M	-623M	-658.9M	-709.2M	-824.3M	-1B	-1.1B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	20.5M	295.3M	753.3M	748.6M	564.6M	601.5M	1.1B	1.3B	1.1B	1.2B
Accounts payable	1M	316.5K	1.3M	1.2M	888.7K	811K	1.2M	6.6M	6.5M	3.1M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	1.2M	2.2M	3.8M	5.4M	8.8M	28.3M	18.8M	13M	12.7M	10.2M
Long-term debt	10.6M	30.8M	87.3M	103.3M	174.4M	219.7M	235.3M	296.1M	242.7M	445.9M
Total liabilities	11.9M	33.2M	91.1M	108.7M	186.3M	252.6M	263.3M	309.3M	256.4M	456.2M
Shareholders' equity	8.6M	262.1M	662.2M	639.9M	378.3M	348.8M	813.4M	1B	863.5M	773.2M
Total debt	10.6M	30.8M	87.3M	103.3M	174.4M	219.7M	235.3M	296.1M	242.7M	445.9M
Net debt	10.1M	25.2M	71.5M	89.1M	164.6M	212.6M	210.6M	265.1M	208.6M	401.9M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	39.5M	31M	39.7M	30.9M	34.7M	34.2M	35.6M	34.5M	40M	44M	37.2M	44.9M
Receivables	64.2M	60.7M	57.6M	55.6M	50.6M	48.7M	63.8M	50M	43.8M	38M	47.5M	55.6M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	105.2M	103.1M	103.3M	88.9M	92.2M	85.3M	99.4M	88.2M	88.4M	88.5M	84.7M	100.8M
Property, plant & equipment	-769.8M	-824.3M	-868.4M	-901.5M	-933.8M	-1B	-1B	-1.1B	-1.1B	-1.1B	-1.2B	-1.2B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	1.4B	1.3B	1.3B	1.2B	1.2B	1.1B	1.3B	1.3B	1.3B	1.2B	1.2B	1.3B
Accounts payable	3.2M	6.6M	6.9M	6.5M	6.9M	6.5M	5.5M	3.1M	4.5M	3.1M	2.9M	4.1M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	15.1M	13M	12.2M	15.7M	17.7M	12.7M	16.5M	16.2M	16.4M	10.2M	16.5M	13.8M
Long-term debt	312.4M	296.1M	287.2M	267.5M	253.8M	242.7M	303.6M	466.7M	453M	445.9M	445.2M	482.9M
Total liabilities	329.3M	309.3M	300.9M	284.4M	271.6M	256.4M	322.2M	483.5M	469.4M	456.2M	464.9M	497.5M
Shareholders' equity	1.1B	1B	990.1M	958.4M	943.1M	863.5M	1B	801.4M	784.4M	773.2M	728.9M	828.7M
Total debt	312.4M	296.1M	287.2M	267.5M	253.8M	242.7M	303.6M	466.7M	453M	445.9M	445.2M	482.9M
Net debt	272.8M	265.1M	247.5M	236.5M	219.1M	208.6M	268M	432.1M	413M	401.9M	408.1M	438M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-31.3M	-6.2M	-52.3M	-158.2M	-256.1M	42.4M	130.8M	83M	11.1M	99.7M
Depreciation & amortization	4M	1.6M	25.2M	52.3M	48.3M	37.1M	50.4M	96.8M	135.5M	124.9M
Stock-based compensation	605.1K	605.1K	3.2M	7.5M	9.3M	10.6M	11.1M	13.1M	16.4M	16.3M
Change in working capital	719.9K	84.5K	-6.1M	5.2M	383.6K	-20.5M	-14.3M	-8.7M	11.5M	10.5M
Operating cash flow	-26M	-3.9M	-29.6M	-92.2M	-197.2M	71.2M	176.2M	181.9M	176.6M	246.5M
Capital expenditure	-538.6K	-97.5K	-200.9M	-12.7M	-88.6M	-56.1M	-141.5M	-490.8M	-209.9K	—
Investing cash flow	-538.6K	-97.5K	-200.9M	-15.7M	-90.8M	-56.1M	-378.4M	-246.7M	-209.9K	0
Dividends paid	-4.5M	0	-40.9M	-78.9M	-54.9M	-71.7M	-126.8M	-153M	-187.2M	-187.3M
Share repurchases	—	—	0	-319.5K	-61.5M	-69.3M	-3.8M	-4.9M	-316.2K	-179.9M
Financing cash flow	-2.1M	-863K	177.9M	-66.7M	24.2M	-38.6M	226.1M	78.4M	-247.5M	-13.2M
Net change in cash	-28.6M	-4.9M	-52.6M	-174.6M	-263.8M	-23.5M	23.9M	13.6M	-71.2M	233.3M
Free cash flow	2.2M	989.1K	-178.3M	68M	-26.4M	35.4M	25.2M	-316.5M	250.7M	23M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	18.5M	17.8M	9.3M	15.2M	25.8M	-39.3M	25.9M	26.7M	22.3M	24.8M	6.9M	47.3M
Depreciation & amortization	23.1M	36.3M	38.3M	33.1M	32.2M	31.9M	31.2M	30.5M	31.1M	32M	29.4M	30.3M
Stock-based compensation	3.3M	3.3M	3.7M	5.1M	3.8M	3.8M	3.9M	4.1M	4.2M	4.2M	4.1M	4.3M
Change in working capital	-13.1M	-1.5M	2.5M	5.2M	7.1M	-3.2M	-14.2M	18.9M	6.3M	-484K	-10.3M	-4.8M
Operating cash flow	32.3M	56.5M	54.3M	59.1M	69.5M	-6.3M	47.2M	72.3M	62.8M	57.2M	49.4M	68.3M
Capital expenditure	-446M	-563.8K	-91.4K	-39.7K	-44.8K	-34.1K	-222.9M	—	—	—	—	—
Investing cash flow	-446M	-563.8K	-91.4K	-39.7K	-44.8K	-34.1K	-222.9M	—	—	—	—	—
Dividends paid	-37M	-49.3M	-46.5M	-51.7M	-45M	-44.1M	-48.1M	-55.5M	-43.4M	-40.2M	-42.6M	-46.6M
Share repurchases	-316	0	-4.9M	-316.2K	692	4.9M	-5.1M	-179.9M	0	5.1M	-12.8M	-7.4M
Financing cash flow	428.4M	-67.3M	-60.3M	-71.6M	-58.6M	-57.1M	170.3M	-72.3M	-57.2M	-53.2M	-56.2M	-16.2M
Net change in cash	14.7M	-11.4M	-6M	-12.5M	10.8M	-63.4M	-5.5M	-16K	5.6M	4M	-6.8M	52.1M
Free cash flow	-409.6M	58.7M	69M	62.8M	62.4M	56.5M	-168.8M	72M	62.6M	57.2M	49.4M	24M

Kimbell Royalty Partners, LP Common Units Representing Limited Partner Interests Financials

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