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Oil & gas E&P · Energy · Fiscal year ends Dec 31
Kimbell Royalty Partners reported revenue of $334M in the fiscal year ended Dec 2025, up 7.9% from the year before. Operating income was $133M, an operating margin of 39.8%, and net income was $100M. Operating cash flow of $246M less capital expenditure of $223M left free cash flow of $24M.
Ranks among the 34 oil & gas e&p companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 175 | 282 | 268 | 309 | 334 |
| Selling, general & admin | 27.0 | 29.1 | 35.7 | 38.5 | 39.7 |
| Operating income | 49.3 | 137 | 110 | 37.0 | 133 |
| Interest expense | 9.2 | 13.8 | 26.0 | 26.7 | 34.5 |
| Pre-tax income | 42.5 | 134 | 86.8 | 10.3 | 98.3 |
| Income tax | 0.1 | 2.7 | 3.8 | −0.8 | −1.3 |
| Net income | 42.4 | 131 | 83.0 | 11.1 | 99.7 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 7.1 | 24.6 | 31.0 | 34.2 | 44.0 |
| Current assets | 45.4 | 75.2 | 103 | 85.3 | 88.5 |
| Net PP&E | 1.9 | 1.0 | 0.6 | 0.3 | 0.6 |
| Total assets | 601 | 1,077 | 1,338 | 1,120 | 1,229 |
| Payables | 0.8 | 1.2 | 6.6 | 6.5 | 3.1 |
| Current liabilities | 28.3 | 18.8 | 13.0 | 12.7 | 10.2 |
| Total liabilities | 253 | 263 | 309 | 256 | 456 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 91.4 | 167 | 174 | 251 | 246 |
| Capital expenditure | 55.3 | 141 | 491 | 0.0 | 223 |
| Free cash flow | 36.1 | 25.3 | −316 | 251 | 23.7 |
| Depreciation & amortisation | 36.8 | 50.1 | 96.5 | 135 | 125 |
| Stock-based compensation | 10.6 | 11.1 | 13.1 | 16.4 | 16.3 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 61.0% | −5.1% | 15.6% | 7.9% |
| Operating income growth (YoY) | – | 177.7% | −19.8% | −66.3% | 259.1% |
| Operating margin | 28.2% | 48.6% | 41.1% | 12.0% | 39.8% |
| Net margin | 24.2% | 46.4% | 31.0% | 3.6% | 29.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.6% | 12.9% | 8.3% | 3.3% | 10.9% |
| Free cash flow margin | 20.6% | 9.0% | −118.2% | 81.1% | 7.1% |
| Cash conversion (CFO ÷ net income) | 2.15x | 1.27x | 2.10x | 22.7x | 2.47x |
| Interest cover | 5.37x | 9.91x | 4.23x | 1.39x | 3.85x |
| Current ratio | 1.60x | 4.01x | 7.95x | 6.69x | 8.64x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.