Kimbell Royalty Financials
This page shows Kimbell Royalty (KRP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Kimbell Royalty Partners’ core mechanic is high cash generation with uneven accounting profit, driven by heavy non-cash charges and a balance sheet that was relevered in FY2025.
The most important pattern is the profit-to-cash disconnect: after FY2024 net margin fell to3.6% , operating cash flow still reached$250.9M , and stayed near that level at$246.5M in FY2025 even as net income rebounded to$99.7M . That gap lines up with depreciation and amortization remaining very large at$124.6M , which means reported earnings can swing much more than the cash the assets are actually throwing off.
FY2025 shows strong operating leverage rather than simple top-line growth: revenue increased only to
The balance-sheet stance became more aggressive in FY2025, with debt-to-equity rising to 0.6x from 0.3x and total liabilities climbing to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Kimbell Royalty's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Kimbell Royalty has an operating margin of 39.8%, meaning the company retains $40 of operating profit per $100 of revenue. This strong profitability earns a score of 91/100, reflecting efficient cost management and pricing power. This is up from 12.0% the prior year.
Kimbell Royalty's revenue grew 7.9% year-over-year to $333.8M, a solid pace of expansion. This earns a growth score of 44/100.
Kimbell Royalty carries a low D/E ratio of 0.59, meaning only $0.59 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 8.64, Kimbell Royalty holds $8.64 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Kimbell Royalty's ROE of 12.9% shows moderate profitability relative to equity, earning a score of 30/100. This is up from 1.3% the prior year.
Kimbell Royalty passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Kimbell Royalty generates $2.47 in operating cash flow ($246.5M OCF vs $99.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Kimbell Royalty earns $3.9 in operating income for every $1 of interest expense ($132.8M vs $34.5M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Kimbell Royalty generated $333.8M in revenue in fiscal year 2025. This represents an increase of 7.9% from the prior year.
Kimbell Royalty's EBITDA was $257.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 49.5% from the prior year.
Kimbell Royalty reported $99.7M in net income in fiscal year 2025. This represents an increase of 800.2% from the prior year.
Cash & Balance Sheet
Kimbell Royalty held $44.0M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Kimbell Royalty's operating margin was 39.8% in fiscal year 2025, reflecting core business profitability. This is up 27.8 percentage points from the prior year.
Kimbell Royalty's net profit margin was 29.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 26.3 percentage points from the prior year.
Kimbell Royalty's ROE was 12.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 11.6 percentage points from the prior year.
Capital Allocation
KRP Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $65.5M-20.5% | $82.5M+2.3% | $80.6M-6.8% | $86.5M+2.8% | $84.2M+26.2% | $66.7M-20.4% | $83.8M+9.4% | $76.6M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $9.4M-9.6% | $10.4M+3.1% | $10.1M+5.1% | $9.6M-0.7% | $9.6M+2.8% | $9.4M-1.1% | $9.5M-7.6% | $10.3M |
| Operating Income | $15.8M-51.6% | $32.6M+13.1% | $28.8M-23.7% | $37.8M+12.5% | $33.6M+186.8% | -$38.7M-213.0% | $34.2M+43.2% | $23.9M |
| Interest Expense | $8.2M-10.6% | $9.1M-6.8% | $9.8M+9.3% | $8.9M+35.1% | $6.6M+11.2% | $6.0M-8.3% | $6.5M-6.5% | $6.9M |
| Income Tax | $703K+153.9% | -$1.3M+60.0% | -$3.3M-250.3% | $2.2M+98.8% | $1.1M+120.3% | -$5.4M-381.0% | $1.9M+8.4% | $1.8M |
| Net Income | $6.9M-72.0% | $24.8M+11.1% | $22.3M-16.3% | $26.7M+3.2% | $25.9M+165.9% | -$39.3M-252.1% | $25.8M+69.9% | $15.2M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
KRP Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B-2.9% | $1.2B-2.0% | $1.3B-2.4% | $1.3B-3.1% | $1.3B+18.4% | $1.1B-7.8% | $1.2B-2.3% | $1.2B |
| Current Assets | $84.7M-4.3% | $88.5M+0.1% | $88.4M+0.1% | $88.2M-11.2% | $99.4M+16.6% | $85.3M-7.5% | $92.2M+3.6% | $88.9M |
| Cash & Equivalents | $37.2M-15.5% | $44.0M+9.9% | $40.0M+15.9% | $34.5M-3.1% | $35.6M+4.3% | $34.2M-1.6% | $34.7M+12.2% | $30.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $464.9M+1.9% | $456.2M-2.8% | $469.4M-2.9% | $483.5M+50.1% | $322.2M+25.7% | $256.4M-5.6% | $271.6M-4.5% | $284.4M |
| Current Liabilities | $16.5M+61.6% | $10.2M-37.6% | $16.4M+1.3% | $16.2M-2.0% | $16.5M+29.6% | $12.7M-28.2% | $17.7M+13.3% | $15.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $728.9M-5.7% | $773.2M-1.4% | $784.4M-2.1% | $801.4M-20.2% | $1.0B+16.2% | $863.5M-8.4% | $943.1M-1.6% | $958.4M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
KRP Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $49.4M-13.6% | $57.2M-8.8% | $62.8M-13.2% | $72.3M+33.5% | $54.2M-4.3% | $56.6M-9.4% | $62.4M-0.7% | $62.9M |
| Capital Expenditures | $230.4M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$181.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$13K+82.4% | -$74K+36.2% | -$116K+66.0% | -$341K+99.8% | -$222.9M-655635.3% | -$34K+24.4% | -$45K-13.5% | -$40K |
| Financing Cash Flow | -$56.2M-5.7% | -$53.2M+7.0% | -$57.2M+21.8% | -$73.1M-142.9% | $170.3M+398.3% | -$57.1M+2.6% | -$58.6M+18.1% | -$71.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $7.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
KRP Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 24.1%-15.5pp | 39.6%+3.8pp | 35.8%-7.9pp | 43.7%+3.8pp | 39.9%+97.8pp | -58.0%-98.8pp | 40.8%+9.6pp | 31.2% |
| Net Margin | 10.6%-19.5pp | 30.1%+2.4pp | 27.7%-3.1pp | 30.8%+0.1pp | 30.7%+89.5pp | -58.9%-89.7pp | 30.8%+11.0pp | 19.8% |
| Return on Equity | 0.9%-2.3pp | 3.2%+0.4pp | 2.9%-0.5pp | 3.3%+0.8pp | 2.6%+7.1pp | -4.5%-7.3pp | 2.7%+1.2pp | 1.6% |
| Return on Assets | 0.6%-1.4pp | 2.0%+0.2pp | 1.8%-0.3pp | 2.1%+0.1pp | 1.9%+5.5pp | -3.5%-5.6pp | 2.1%+0.9pp | 1.2% |
| Current Ratio | 5.12-3.5 | 8.64+3.3 | 5.39-0.1 | 5.45-0.6 | 6.01-0.7 | 6.69+1.5 | 5.20-0.5 | 5.68 |
| Debt-to-Equity | 0.64+0.0 | 0.590.0 | 0.600.0 | 0.60+0.3 | 0.32+0.0 | 0.300.0 | 0.290.0 | 0.30 |
| FCF Margin | -276.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Kimbell Royalty's annual revenue?
Kimbell Royalty (KRP) reported $333.8M in total revenue for fiscal year 2025. This represents a 7.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Kimbell Royalty's revenue growing?
Kimbell Royalty (KRP) revenue grew by 7.9% year-over-year, from $309.3M to $333.8M in fiscal year 2025.
Is Kimbell Royalty profitable?
Yes, Kimbell Royalty (KRP) reported a net income of $99.7M in fiscal year 2025, with a net profit margin of 29.8%.
What is Kimbell Royalty's EBITDA?
Kimbell Royalty (KRP) had EBITDA of $257.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Kimbell Royalty's operating margin?
Kimbell Royalty (KRP) had an operating margin of 39.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Kimbell Royalty's net profit margin?
Kimbell Royalty (KRP) had a net profit margin of 29.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Kimbell Royalty's return on equity (ROE)?
Kimbell Royalty (KRP) has a return on equity of 12.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kimbell Royalty's operating cash flow?
Kimbell Royalty (KRP) generated $246.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kimbell Royalty's total assets?
Kimbell Royalty (KRP) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Kimbell Royalty's current ratio?
Kimbell Royalty (KRP) had a current ratio of 8.64 as of fiscal year 2025, which is generally considered healthy.
What is Kimbell Royalty's debt-to-equity ratio?
Kimbell Royalty (KRP) had a debt-to-equity ratio of 0.59 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kimbell Royalty's return on assets (ROA)?
Kimbell Royalty (KRP) had a return on assets of 8.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kimbell Royalty's Piotroski F-Score?
Kimbell Royalty (KRP) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kimbell Royalty's earnings high quality?
Kimbell Royalty (KRP) has an earnings quality ratio of 2.47x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Kimbell Royalty cover its interest payments?
Kimbell Royalty (KRP) has an interest coverage ratio of 3.9x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Kimbell Royalty?
Kimbell Royalty (KRP) scores 59 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.