XPLR Infrastructure LP Financials

XIFR

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows XPLR Infrastructure LP (XIFR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).

Financial Health Signals

Financial Profile 24/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

XPLR Infrastructure LP has an operating margin of -15.7%, meaning the company retains $-16 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 up from -37.3% the prior year.

Growth

XPLR Infrastructure LP's revenue declined 3.4% year-over-year, from $1.2B to $1.2B. This contraction results in a growth score of 28/100.

Leverage

XPLR Infrastructure LP carries a low D/E ratio of 0.50, meaning only $0.50 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

XPLR Infrastructure LP's current ratio of 0.91 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 13/100, which could limit financial flexibility.

Cash Flow

While XPLR Infrastructure LP generated $739.0M in operating cash flow, capex of $958.0M consumed most of it, leaving -$219.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

XPLR Infrastructure LP generates a -0.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is down from -0.2% the prior year.

Piotroski F-Score Neutral

4/9

XPLR Infrastructure LP passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-26.39x

For every $1 of reported earnings, XPLR Infrastructure LP generates $-26.39 in operating cash flow ($739.0M OCF vs -$28.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.2B

YoY-3.4%

5Y CAGR+5.3%

10Y CAGR+9.0%

XPLR Infrastructure LP generated $1.2B in revenue in fiscal year 2025. This represents a decrease of 3.4% from the prior year.

EBITDA

$441.0M

YoY+186.4%

5Y CAGR-6.1%

10Y CAGR+1.8%

XPLR Infrastructure LP's EBITDA was $441.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 186.4% from the prior year.

Net Income

-$28.0M

YoY-21.7%

XPLR Infrastructure LP reported -$28.0M in net income in fiscal year 2025. This represents a decrease of 21.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$219.0M

YoY-139.2%

XPLR Infrastructure LP generated -$219.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 139.2% from the prior year.

Cash & Debt

$960.0M

YoY+239.2%

5Y CAGR+54.8%

10Y CAGR+19.3%

XPLR Infrastructure LP held $960.0M in cash against $5.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

94M

YoY+0.5%

5Y CAGR+4.4%

10Y CAGR+11.8%

XPLR Infrastructure LP had 94M shares outstanding in fiscal year 2025. This represents an increase of 0.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-15.7%

YoY+21.7pp

5Y CAGR-43.3pp

10Y CAGR-57.4pp

XPLR Infrastructure LP's operating margin was -15.7% in fiscal year 2025, reflecting core business profitability. This is up 21.7 percentage points from the prior year.

Net Margin

-2.4%

YoY-0.5pp

5Y CAGR+3.6pp

10Y CAGR-4.4pp

XPLR Infrastructure LP's net profit margin was -2.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.5 percentage points from the prior year.

Return on Equity

-0.3%

YoY-0.1pp

5Y CAGR+0.5pp

10Y CAGR-0.8pp

XPLR Infrastructure LP's ROE was -0.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$958.0M

YoY+297.5%

5Y CAGR+23.5%

10Y CAGR+16.9%

XPLR Infrastructure LP invested $958.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 297.5% from the prior year.

XIFR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.2B-3.4%	$1.2B+14.1%	$1.1B+11.2%	$969.0M+34.2%	$722.0M-21.3%	$917.0M
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$186.0M+59.5%	-$459.0M-1539.3%	-$28.0M-163.6%	$44.0M-31.3%	$64.0M-74.7%	$253.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	$620.0M
Income Tax	-$78.0M-85.7%	-$42.0M-68.0%	-$25.0M-115.5%	$161.0M+335.1%	$37.0M+294.7%	-$19.0M
Net Income	-$28.0M-21.7%	-$23.0M-111.5%	$200.0M-58.1%	$477.0M+248.2%	$137.0M+349.1%	-$55.0M
EPS (Diluted)	N/A	N/A	N/A	$5.62+217.5%	$1.77+318.5%	$-0.81

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$249.0M-21.0%	$315.0M-7.9%	$342.0M+21.3%	$282.0M-4.1%	$294.0M-7.8%	$319.0M-11.4%	$360.0M+40.1%	$257.0M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$48.0M-1060.0%	$5.0M-94.4%	$90.0M+138.6%	-$233.0M+57.9%	-$553.0M-1228.6%	$49.0M-25.8%	$66.0M+414.3%	-$21.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$35.0M-181.4%	$43.0M+204.9%	-$41.0M+8.9%	-$45.0M+46.4%	-$84.0M-347.1%	$34.0M+61.9%	$21.0M+261.5%	-$13.0M
Net Income	$28.0M+175.7%	-$37.0M-146.8%	$79.0M+180.6%	-$98.0M+14.8%	-$115.0M-187.5%	-$40.0M-164.5%	$62.0M-11.4%	$70.0M
EPS (Diluted)	N/A	$-0.40-147.6%	$0.84+180.0%	$-1.05	N/A	$-0.43-165.2%	$0.66-12.0%	$0.75

XIFR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$19.6B-3.4%	$20.3B-9.9%	$22.5B-2.3%	$23.1B+21.5%	$19.0B+51.1%	$12.6B
Current Assets	$1.4B+65.3%	$860.0M-61.2%	$2.2B+19.0%	$1.9B+32.1%	$1.4B+240.6%	$414.0M
Cash & Equivalents	$960.0M+239.2%	$283.0M+3.3%	$274.0M+21.2%	$226.0M+53.7%	$147.0M+36.1%	$108.0M
Inventory	$103.0M-4.6%	$108.0M+31.7%	$82.0M+67.3%	$49.0M+19.5%	$41.0M+70.8%	$24.0M
Accounts Receivable	$102.0M-2.9%	$105.0M-7.9%	$114.0M-2.6%	$117.0M+4.5%	$112.0M+34.9%	$83.0M
Goodwill	$0-100.0%	$253.0M-69.6%	$833.0M+2.6%	$812.0M-8.9%	$891.0M+46.3%	$609.0M
Total Liabilities	$8.7B+17.1%	$7.4B-12.2%	$8.5B+2.1%	$8.3B+5.9%	$7.8B+61.0%	$4.9B
Current Liabilities	$1.6B+44.3%	$1.1B-34.9%	$1.7B+26.0%	$1.3B+5.2%	$1.3B+260.3%	$350.0M
Long-Term Debt	$5.4B+18.0%	$4.6B-6.7%	$4.9B-5.9%	$5.3B-0.8%	$5.3B+56.8%	$3.4B
Total Equity	$10.9B-15.3%	$12.9B-8.5%	$14.1B-4.2%	$14.7B+35.4%	$10.8B+40.6%	$7.7B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$19.6B+2.5%	$19.1B-6.7%	$20.5B-4.2%	$21.4B+5.5%	$20.3B-2.9%	$20.9B-3.7%	$21.7B-2.8%	$22.3B
Current Assets	$1.4B+17.1%	$1.2B-16.6%	$1.5B-30.0%	$2.1B+141.7%	$860.0M+0.9%	$852.0M-43.2%	$1.5B-31.3%	$2.2B
Cash & Equivalents	$960.0M+35.0%	$711.0M-19.2%	$880.0M-42.5%	$1.5B+440.6%	$283.0M-2.4%	$290.0M+3.2%	$281.0M+14.7%	$245.0M
Inventory	$103.0M+3.0%	$100.0M0.0%	$100.0M-3.8%	$104.0M-3.7%	$108.0M+5.9%	$102.0M+9.7%	$93.0M+5.7%	$88.0M
Accounts Receivable	$102.0M-6.4%	$109.0M-26.4%	$148.0M+15.6%	$128.0M+21.9%	$105.0M-9.5%	$116.0M-23.2%	$151.0M+13.5%	$133.0M
Goodwill	$0	$0	$0	$0-100.0%	$253.0M-69.4%	$828.0M-0.6%	$833.0M0.0%	$833.0M
Total Liabilities	$8.7B+6.7%	$8.1B-11.7%	$9.2B+4.3%	$8.8B+19.1%	$7.4B+1.7%	$7.3B-6.9%	$7.8B-6.2%	$8.4B
Current Liabilities	$1.6B-3.4%	$1.6B-14.3%	$1.9B+68.4%	$1.1B+3.5%	$1.1B+157.6%	$422.0M-63.3%	$1.1B-28.3%	$1.6B
Long-Term Debt	$5.4B+11.9%	$4.9B-13.3%	$5.6B-6.3%	$6.0B+29.9%	$4.6B-9.2%	$5.1B+3.0%	$4.9B-0.4%	$4.9B
Total Equity	$10.9B-0.7%	$11.0B-2.6%	$11.3B-10.2%	$12.6B-2.4%	$12.9B-5.4%	$13.6B-1.9%	$13.9B-0.8%	$14.0B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

XIFR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$739.0M-7.6%	$800.0M+9.4%	$731.0M-5.8%	$776.0M+14.6%	$677.0M+1.8%	$665.0M
Capital Expenditures	$958.0M+297.5%	$241.0M-81.0%	$1.3B-6.1%	$1.4B+1095.6%	$113.0M-66.2%	$334.0M
Free Cash Flow	-$219.0M-139.2%	$559.0M+203.9%	-$538.0M+6.4%	-$575.0M-202.0%	$564.0M+70.4%	$331.0M
Investing Cash Flow	$630.0M-49.0%	$1.2B+737.1%	-$194.0M+83.8%	-$1.2B+48.1%	-$2.3B-237.9%	-$681.0M
Financing Cash Flow	-$674.0M+66.3%	-$2.0B-279.9%	-$527.0M-195.6%	$551.0M-66.9%	$1.7B+41675.0%	-$4.0M
Dividends Paid	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

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$186.0M-19.5%	$231.0M-0.4%	$232.0M+157.8%	$90.0M-68.2%	$283.0M+36.1%	$208.0M-10.0%	$231.0M+196.2%	$78.0M
Capital Expenditures	$274.0M-46.7%	$514.0M+534.6%	$81.0M-9.0%	$89.0M+71.2%	$52.0M-7.1%	$56.0M-18.8%	$69.0M+7.8%	$64.0M
Free Cash Flow	-$88.0M+68.9%	-$283.0M-287.4%	$151.0M+15000.0%	$1.0M-99.6%	$231.0M+52.0%	$152.0M-6.2%	$162.0M+1057.1%	$14.0M
Investing Cash Flow	-$267.0M-142.2%	$632.0M+101.3%	$314.0M+740.8%	-$49.0M+54.6%	-$108.0M-118.1%	$596.0M-15.6%	$706.0M+1581.0%	$42.0M
Financing Cash Flow	$329.0M+132.3%	-$1.0B+15.3%	-$1.2B-198.8%	$1.2B+730.6%	-$193.0M+75.2%	-$779.0M+15.0%	-$917.0M-711.5%	-$113.0M
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

XIFR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-15.7%+21.7pp	-37.3%-34.7pp	-2.6%-7.1pp	4.5%-4.3pp	8.9%-18.7pp	27.6%
Net Margin	-2.4%-0.5pp	-1.9%-20.4pp	18.6%-30.7pp	49.2%+30.3pp	19.0%+25.0pp	-6.0%
Return on Equity	-0.3%-0.1pp	-0.2%-1.6pp	1.4%-1.8pp	3.3%+2.0pp	1.3%+2.0pp	-0.7%
Return on Assets	-0.1%-0.0pp	-0.1%-1.0pp	0.9%-1.2pp	2.1%+1.4pp	0.7%+1.2pp	-0.4%
Current Ratio	0.91+0.1	0.79-0.5	1.33-0.1	1.40+0.3	1.12-0.1	1.18
Debt-to-Equity	0.50+0.1	0.360.0	0.350.0	0.36-0.1	0.49+0.1	0.44
FCF Margin	-18.4%-63.9pp	45.5%+95.4pp	-49.9%+9.4pp	-59.3%-137.5pp	78.1%+42.0pp	36.1%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-19.3%-20.9pp	1.6%-24.7pp	26.3%+108.9pp	-82.6%+105.5pp	-188.1%-203.5pp	15.4%-3.0pp	18.3%+26.5pp	-8.2%
Net Margin	11.2%+23.0pp	-11.8%-34.9pp	23.1%+57.9pp	-34.8%+4.4pp	-39.1%-26.6pp	-12.5%-29.8pp	17.2%-10.0pp	27.2%
Return on Equity	0.3%+0.6pp	-0.3%-1.0pp	0.7%+1.5pp	-0.8%+0.1pp	-0.9%-0.6pp	-0.3%-0.7pp	0.4%-0.1pp	0.5%
Return on Assets	0.1%+0.3pp	-0.2%-0.6pp	0.4%+0.9pp	-0.5%+0.1pp	-0.6%-0.4pp	-0.2%-0.5pp	0.3%-0.0pp	0.3%
Current Ratio	0.91+0.2	0.75-0.0	0.77-1.1	1.85+1.1	0.79-1.2	2.02+0.7	1.30-0.1	1.36
Debt-to-Equity	0.50+0.1	0.44-0.1	0.50+0.0	0.48+0.1	0.36-0.0	0.37+0.0	0.360.0	0.35
FCF Margin	-35.3%+54.5pp	-89.8%-134.0pp	44.1%+43.8pp	0.4%-78.2pp	78.6%+30.9pp	47.6%+2.6pp	45.0%+39.6pp	5.5%

Note: The current ratio is below 1.0 (0.91), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is XPLR Infrastructure LP's annual revenue?

XPLR Infrastructure LP (XIFR) reported $1.2B in total revenue for fiscal year 2025. This represents a -3.4% 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 XPLR Infrastructure LP's revenue growing?

XPLR Infrastructure LP (XIFR) revenue declined by 3.4% year-over-year, from $1.2B to $1.2B in fiscal year 2025.

Is XPLR Infrastructure LP profitable?

No, XPLR Infrastructure LP (XIFR) reported a net income of -$28.0M in fiscal year 2025, with a net profit margin of -2.4%.

What is XPLR Infrastructure LP's EBITDA?

XPLR Infrastructure LP (XIFR) had EBITDA of $441.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does XPLR Infrastructure LP have?

As of fiscal year 2025, XPLR Infrastructure LP (XIFR) had $960.0M in cash and equivalents against $5.4B in long-term debt.

What is XPLR Infrastructure LP's operating margin?

XPLR Infrastructure LP (XIFR) had an operating margin of -15.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is XPLR Infrastructure LP's net profit margin?

XPLR Infrastructure LP (XIFR) had a net profit margin of -2.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is XPLR Infrastructure LP's return on equity (ROE)?

XPLR Infrastructure LP (XIFR) has a return on equity of -0.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is XPLR Infrastructure LP's free cash flow?

XPLR Infrastructure LP (XIFR) generated -$219.0M in free cash flow during fiscal year 2025. This represents a -139.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is XPLR Infrastructure LP's operating cash flow?

XPLR Infrastructure LP (XIFR) generated $739.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are XPLR Infrastructure LP's total assets?

XPLR Infrastructure LP (XIFR) had $19.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are XPLR Infrastructure LP's capital expenditures?

XPLR Infrastructure LP (XIFR) invested $958.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does XPLR Infrastructure LP have outstanding?

XPLR Infrastructure LP (XIFR) had 94M shares outstanding as of fiscal year 2025.

What is XPLR Infrastructure LP's current ratio?

XPLR Infrastructure LP (XIFR) had a current ratio of 0.91 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is XPLR Infrastructure LP's debt-to-equity ratio?

XPLR Infrastructure LP (XIFR) had a debt-to-equity ratio of 0.50 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is XPLR Infrastructure LP's return on assets (ROA)?

XPLR Infrastructure LP (XIFR) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is XPLR Infrastructure LP's Piotroski F-Score?

XPLR Infrastructure LP (XIFR) has a Piotroski F-Score of 4 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are XPLR Infrastructure LP's earnings high quality?

XPLR Infrastructure LP (XIFR) has an earnings quality ratio of -26.39x, 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.

How financially healthy is XPLR Infrastructure LP?

XPLR Infrastructure LP (XIFR) scores 24 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.