Txo Partners Financials
This page shows Txo Partners (TXO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
TXO’s reported losses mask operating cash, but its larger asset base is being financed outside the business.
Across the recent annual periods, operating cash flow stayed positive at$77.2M and$118.2M even while operating income stayed negative. With depreciation and amortization rising from$44.3M to$96.6M , reported earnings understate cash generation; the tighter issue is financing new investment rather than funding day-to-day operations.
Total assets expanded from
Long-term debt rose from
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 Txo Partners'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.
Txo Partners has an operating margin of -7.6%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -2.4% the prior year.
Txo Partners's revenue surged 41.8% year-over-year to $401.0M, reflecting rapid business expansion. This strong growth earns a score of 38/100.
Txo Partners's current ratio of 0.62 is below the typical benchmark, resulting in a score of 7/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Txo Partners passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Txo Partners generates $-5.47 in operating cash flow ($118.2M OCF vs -$21.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Txo Partners earns $-1.8 in operating income for every $1 of interest expense (-$30.6M vs $17.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Txo Partners generated $401.0M in revenue in fiscal year 2025. This represents an increase of 41.8% from the prior year.
Txo Partners's EBITDA was $66.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 44.9% from the prior year.
Txo Partners reported -$21.6M in net income in fiscal year 2025. This represents a decrease of 192.0% from the prior year.
Txo Partners earned $-0.43 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 166.2% from the prior year.
Cash & Balance Sheet
Txo Partners held $9.4M in cash against $291.1M in long-term debt as of fiscal year 2025.
Margins & Returns
Txo Partners's operating margin was -7.6% in fiscal year 2025, reflecting core business profitability. This is down 5.2 percentage points from the prior year.
Txo Partners's net profit margin was -5.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 13.7 percentage points from the prior year.
Capital Allocation
TXO Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $119.6M-5.1% | $125.9M+24.8% | $100.9M+12.2% | $89.9M+6.6% | $84.3M-5.6% | $89.3M+30.0% | $68.7M+19.9% | $57.3M |
| 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 | $4.8M+1.7% | $4.7M-2.0% | $4.8M-48.9% | $9.5M+287.3% | $2.4M-39.1% | $4.0M+22.4% | $3.3M-28.7% | $4.6M |
| Operating Income | -$77.6M-186.8% | -$27.0M-819.2% | $3.8M+201.2% | -$3.7M-3.7% | -$3.6M-165.1% | $5.5M+210.9% | -$5.0M+50.9% | -$10.1M |
| Interest Expense | $5.7M-8.4% | $6.3M+39.1% | $4.5M+75.2% | $2.6M-29.0% | $3.6M-9.2% | $4.0M+114.4% | $1.9M+77.3% | $1.0M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$74.3M-163.1% | -$28.3M-749.2% | $4.4M+3323.7% | -$135K-105.6% | $2.4M-76.4% | $10.2M+4933.5% | $203K-92.8% | $2.8M |
| EPS (Diluted) | $-1.35 | N/A | $0.08 | $0.00-100.0% | $0.06 | N/A | $0.01-88.9% | $0.09 |
TXO Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B-2.4% | $1.4B-1.5% | $1.4B+31.5% | $1.0B+1.3% | $1.0B+0.2% | $1.0B+1.4% | $1.0B+31.2% | $774.5M |
| Current Assets | $90.2M-5.4% | $95.3M+23.9% | $76.9M+8.7% | $70.8M-13.3% | $81.6M+26.6% | $64.4M+19.1% | $54.1M-53.7% | $117.0M |
| Cash & Equivalents | $7.9M-15.9% | $9.4M+76.6% | $5.3M-33.3% | $8.0M-26.6% | $10.8M+48.4% | $7.3M+89.9% | $3.8M-94.9% | $76.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $58.4M+11.6% | $52.4M+14.9% | $45.6M+23.3% | $37.0M-3.9% | $38.5M-3.0% | $39.7M+13.4% | $35.0M+22.8% | $28.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | $210.0M+36.4% | $153.9M-4.2% | $160.6M+120.9% | $72.7M-11.3% | $82.0M+23.5% | $66.3M+24.8% | $53.1M+48.3% | $35.8M |
| Long-Term Debt | $277.1M-4.8% | $291.1M+7.4% | $271.1M+1319.4% | $19.1M-88.2% | $162.1M+3.2% | $157.1M+1.3% | $155.1M+2084.5% | $7.1M |
| Total Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TXO Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $33.4M+2.9% | $32.5M+14.8% | $28.3M+5.3% | $26.9M-12.3% | $30.6M-24.4% | $40.5M+95.6% | $20.7M-9.5% | $22.9M |
| Capital Expenditures | $331.6M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$298.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$4.4M+85.3% | -$29.9M+88.3% | -$255.9M-498.9% | -$42.7M-524.3% | -$6.8M+55.2% | -$15.3M+93.5% | -$234.5M-561.3% | -$35.5M |
| Financing Cash Flow | -$30.5M-2135.7% | $1.5M-99.3% | $224.9M+1633.1% | $13.0M+164.2% | -$20.2M+7.1% | -$21.8M-115.4% | $141.7M+68.6% | $84.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TXO 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 | -64.9%-43.4pp | -21.5%-25.2pp | 3.7%+7.9pp | -4.1%+0.1pp | -4.3%-10.4pp | 6.2%+13.4pp | -7.2%+10.4pp | -17.6% |
| Net Margin | -62.2%-39.8pp | -22.4%-26.7pp | 4.3%+4.5pp | -0.1%-3.0pp | 2.9%-8.6pp | 11.4%+11.1pp | 0.3%-4.6pp | 4.9% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -5.6%-3.5pp | -2.1%-2.4pp | 0.3%+0.3pp | -0.0%-0.2pp | 0.2%-0.8pp | 1.0%+1.0pp | 0.0%-0.3pp | 0.4% |
| Current Ratio | 0.43-0.2 | 0.62+0.1 | 0.48-0.5 | 0.97-0.0 | 1.00+0.0 | 0.97-0.0 | 1.02-2.2 | 3.27 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | -332.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.62), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Txo Partners's annual revenue?
Txo Partners (TXO) reported $401.0M in total revenue for fiscal year 2025. This represents a 41.8% 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 Txo Partners's revenue growing?
Txo Partners (TXO) revenue grew by 41.8% year-over-year, from $282.8M to $401.0M in fiscal year 2025.
Is Txo Partners profitable?
No, Txo Partners (TXO) reported a net income of -$21.6M in fiscal year 2025, with a net profit margin of -5.4%.
What is Txo Partners's EBITDA?
Txo Partners (TXO) had EBITDA of $66.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Txo Partners have?
As of fiscal year 2025, Txo Partners (TXO) had $9.4M in cash and equivalents against $291.1M in long-term debt.
What is Txo Partners's operating margin?
Txo Partners (TXO) had an operating margin of -7.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Txo Partners's net profit margin?
Txo Partners (TXO) had a net profit margin of -5.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Txo Partners's operating cash flow?
Txo Partners (TXO) generated $118.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Txo Partners's total assets?
Txo Partners (TXO) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Txo Partners's current ratio?
Txo Partners (TXO) had a current ratio of 0.62 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Txo Partners's return on assets (ROA)?
Txo Partners (TXO) had a return on assets of -1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Txo Partners's Piotroski F-Score?
Txo Partners (TXO) has a Piotroski F-Score of 3 out of 9, indicating weak 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 Txo Partners's earnings high quality?
Txo Partners (TXO) has an earnings quality ratio of -5.47x, considered mixed 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 Txo Partners cover its interest payments?
Txo Partners (TXO) has an interest coverage ratio of -1.8x, meaning it can struggle to 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 Txo Partners?
Txo Partners (TXO) scores 7 out of 100 on our Financial Profile, indicating weak 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.