Kimbell Royalty Partners, LP KRP
We are a Delaware limited partnership formed in 2015 to own and acquire mineral and royalty interests in oil and natural gas properties throughout the United States. We have elected to be taxed as a corporation for United States federal income tax purposes. As an owner of mineral and royalty interests, we are entitled to a portion of the revenues received from the production of oil, natural gas and associated NGLs from the acreage underlying our interests, net of post-production expenses and taxes. We are not obligated to fund drilling and completion costs, lease operating expenses or plugging and abandonment costs at the end of a well's productive life. Our primary business objective is to provide increasing cash distributions to unitholders resulting from acquisitions from third parties, our Sponsors and the Contributing Parties and from organic growth through the continued development by working interest owners of the properties in which we own an interest.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $333.8M | $309.3M | $294.1M | $248.1M | $175.1M | $90.5M | $108.2M | $70.3M | — | — |
| SG&A | $39.7M | $38.5M | $35.7M | $29.1M | $27.0M | $25.9M | $22.7M | $16.8M | — | — |
| Total operating expenses | $201.0M | $272.3M | $184.2M | $111.1M | $86.3M | $341.2M | $259.8M | $118.4M | — | — |
| Operating income | $132.8M | $37.0M | $109.9M | $136.9M | $49.3M | -$250.7M | -$151.6M | -$48.2M | — | — |
| Interest expense | $34.5M | $26.7M | $25.9M | $13.8M | $9.2M | $6.4M | $5.8M | $4.1M | — | — |
| Pre-tax income | $98.3M | $10.3M | $86.8M | $133.5M | $42.5M | -$257.0M | -$157.3M | -$52.3M | — | — |
| Income tax | $1.3M | $771.0K | $3.8M | $2.7M | $74.1K | $885.2K | $899.4K | $24.7K | — | — |
| Net income | $99.7M | $11.1M | $83.0M | $130.8M | $42.4M | -$256.1M | -$158.2M | -$52.3M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $44.0M | $34.2M | $31.0M | $25.0M | $7.1M | $9.8M | $14.2M | $15.8M | $5.6M | $505.9K |
| Total current assets | $88.5M | $85.3M | $103.1M | $75.2M | $45.4M | $28.3M | $34.1M | $37.6M | $12.7M | — |
| Property, plant and equipment | $629.0K | $267.0K | $589.9K | $953.8K | $1.9M | $2.0M | $1.3M | $429.6K | $165.2K | — |
| Total assets | $1.23B | $1.12B | $1.34B | $1.08B | $601.5M | $564.6M | $868.7M | $906.2M | $237.2M | $279.4M |
| Accounts payable | $3.1M | $6.5M | $6.6M | $1.2M | $811.0K | $888.7K | $1.2M | $1.3M | $316.5K | — |
| Total current liabilities | $10.2M | $12.7M | $13.0M | $18.8M | $28.3M | $8.8M | $5.4M | $3.8M | $2.2M | — |
| Long-term debt | — | — | — | — | — | $171.7M | $87.3M | $87.3M | $30.8M | $3.9M |
| Total liabilities | $456.2M | $256.4M | $309.3M | $263.3M | $252.6M | $186.3M | $108.7M | $91.1M | $33.2M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $246.5M | $250.9M | $174.3M | $166.6M | $91.4M | $62.2M | $80.7M | $33.2M | — | — |
| Depreciation and amortisation | $124.6M | $135.1M | $96.5M | $50.1M | $36.8M | $48.0M | $52.1M | $25.2M | — | — |
| Stock-based compensation | $16.3M | $16.4M | $13.1M | $11.1M | $10.6M | $9.3M | $7.5M | $3.2M | — | — |
| Capital expenditure | — | — | — | — | — | — | — | $403.7K | — | — |
| Investing cash flow | -$223.5M | -$210.0K | -$246.7M | -$374.7M | -$55.6M | -$90.8M | -$15.6M | -$200.9M | — | — |
| Financing cash flow | -$13.2M | -$247.5M | $78.4M | $226.1M | -$38.6M | $24.2M | -$66.7M | $177.9M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-020477.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $70.3M | $108.2M | $90.5M | $175.1M | $248.1M | $294.1M | $309.3M | $333.8M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | — | — | -$52.3M | -$158.2M | -$256.1M | $42.4M | $130.8M | $83.0M | $11.1M | $99.7M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 1311
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| EOG | EOG RESOURCES INC | $85.51B | 17.9x | -4.5% |
| OXY | OCCIDENTAL PETROLEUM CORP /DE/ | $64.15B | 39.9x | -5.0% |
| FANG | Diamondback Energy, Inc. | $57.62B | 35.9x | 35.8% |
| DVN | DEVON ENERGY CORP/DE | $56.53B | 12.3x | 5.4% |
| EQT | EQT Corp | $34.80B | 16.8x | 63.9% |
| EXE | EXPAND ENERGY Corp | $22.30B | 12.3x | 186.3% |
| PR | Permian Resources Corp | $21.35B | 19.9x | 1.3% |
| OVV | Ovintiv Inc. | $19.91B | 15.1x | -3.1% |