Kimbell Royalty Partners, LP
KRP NYSE Crude Petroleum & Natural Gas Financials FY2018–FY2025
Last close · Oct 23, 2026
$16.96
2.9%
Revenue
Total sales reported in the income statement.
$334M
7.9%
vs prior year
Operating margin
Operating income as a share of revenue.
39.8%
27.8 pts
Net income
Profit after all expenses, interest and tax.
$99.7M
800.2%
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$2.0B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
20.2x
On $0.84 EPS (TTM)
What Kimbell Royalty Partners, LP does
No business description yet.
- Legal name
- Kimbell Royalty Partners, LP
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Accession · CIK
- 0001104659-26-020477
0001657788
Revenue and margins
Kimbell Royalty Partners, LP had $334M of revenue in fiscal 2025, up 7.9% on the year before.
FY18
Revenue $70.3M
FY19
Revenue $108M
FY20
Revenue $90.5M
FY21
Revenue $136M
FY22
Revenue $248M
FY23
Revenue $294M
FY24
Revenue $309M
FY25
Revenue $334M
Q3 '23
Revenue $67.2M
Q4 '23
Revenue $99.2M
Q1 '24
Revenue $82.2M
Q2 '24
Revenue $76.6M
Q3 '24
Revenue $83.8M
Q4 '24
Revenue $66.7M
Q1 '25
Revenue $84.2M
Q2 '25
Revenue $86.5M
Q3 '25
Revenue $80.6M
Q4 '25
Revenue $82.5M
Q1 '26
Revenue $65.5M
Q2 '26
Revenue $112M
FY18
Gross —
Operating −68.6%
Net −74.4%
FCF 46.7%
FY19
Gross —
Operating −140.1%
Net −146.2%
FCF —
FY20
Gross —
Operating −277.1%
Net −283.0%
FCF —
FY21
Gross —
Operating 36.4%
Net 31.3%
FCF —
FY22
Gross —
Operating 55.2%
Net 52.7%
FCF —
FY23
Gross —
Operating 37.4%
Net 28.2%
FCF —
FY24
Gross —
Operating 12.0%
Net 3.6%
FCF —
FY25
Gross —
Operating 39.8%
Net 29.9%
FCF —
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating 37.6%
Net 27.5%
FCF —
Q4 '23
Gross —
Operating 26.8%
Net 18.0%
FCF —
Q1 '24
Gross —
Operating 21.4%
Net 11.4%
FCF —
Q2 '24
Gross —
Operating 31.2%
Net 19.8%
FCF —
Q3 '24
Gross —
Operating 40.8%
Net 30.8%
FCF —
Q4 '24
Gross —
Operating −58.0%
Net −58.8%
FCF —
Q1 '25
Gross —
Operating 39.9%
Net 30.7%
FCF —
Q2 '25
Gross —
Operating 43.7%
Net 30.8%
FCF —
Q3 '25
Gross —
Operating 35.8%
Net 27.7%
FCF —
Q4 '25
Gross —
Operating 39.6%
Net 30.1%
FCF —
Q1 '26
Gross —
Operating 24.1%
Net 10.6%
FCF —
Q2 '26
Gross —
Operating 53.1%
Net 42.1%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY18
Net income −$52.3M
FY19
Net income −$158M
FY20
Net income −$256M
FY21
Net income $42.4M
FY22
Net income $131M
FY23
Net income $83.0M
FY24
Net income $11.1M
FY25
Net income $99.7M
Q3 '23
Net income $18.5M
Q4 '23
Net income $17.8M
Q1 '24
Net income $9.3M
Q2 '24
Net income $15.2M
Q3 '24
Net income $25.8M
Q4 '24
Net income −$39.3M
Q1 '25
Net income $25.9M
Q2 '25
Net income $26.7M
Q3 '25
Net income $22.3M
Q4 '25
Net income $24.8M
Q1 '26
Net income $6.9M
Q2 '26
Net income $47.3M
FY18
Diluted EPS −$3.08
FY19
Diluted EPS −$3.92
FY20
Diluted EPS −$4.85
FY21
Diluted EPS $0.51
FY22
Diluted EPS $1.72
FY23
Diluted EPS $0.91
FY24
Diluted EPS −$0.12
FY25
Diluted EPS $0.62
Q3 '23
Diluted EPS $0.19
Q4 '23
Diluted EPS $0.13
Q1 '24
Diluted EPS $0.04
Q2 '24
Diluted EPS $0.11
Q3 '24
Diluted EPS $0.22
Q4 '24
Diluted EPS −$0.49
Q1 '25
Diluted EPS $0.20
Q2 '25
Diluted EPS $0.02
Q3 '25
Diluted EPS $0.19
Q4 '25
Diluted EPS $0.21
Q1 '26
Diluted EPS $0.04
Q2 '26
Diluted EPS $0.40
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY18
Return on capital —
Return on equity —
Return on assets −6.9%
FY19
Return on capital —
Return on equity —
Return on assets −21.1%
FY20
Return on capital —
Return on equity —
Return on assets −39.0%
FY21
Return on capital —
Return on equity —
Return on assets 7.3%
FY22
Return on capital —
Return on equity —
Return on assets 15.6%
FY23
Return on capital —
Return on equity —
Return on assets 6.9%
FY24
Return on capital —
Return on equity —
Return on assets 0.9%
FY25
Return on capital —
Return on equity —
Return on assets 8.5%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY18
Free cash flow $32.8M
FY19
Free cash flow —
FY20
Free cash flow —
FY21
Free cash flow —
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY18
Cash from operations $33.2M
Capital spending $0.4M
FY19
Cash from operations $80.7M
Capital spending —
FY20
Cash from operations $62.2M
Capital spending —
FY21
Cash from operations $91.4M
Capital spending —
FY22
Cash from operations $167M
Capital spending —
FY23
Cash from operations $174M
Capital spending —
FY24
Cash from operations $251M
Capital spending —
FY25
Cash from operations $246M
Capital spending —
Cash from operations
Capital spending
Q3 '23
Cash from operations $36.4M
Capital spending —
Q4 '23
Cash from operations $59.3M
Capital spending —
Q1 '24
Cash from operations $69.0M
Capital spending —
Q2 '24
Cash from operations $62.9M
Capital spending —
Q3 '24
Cash from operations $62.4M
Capital spending —
Q4 '24
Cash from operations $56.6M
Capital spending —
Q1 '25
Cash from operations $54.2M
Capital spending —
Q2 '25
Cash from operations $72.3M
Capital spending —
Q3 '25
Cash from operations $62.8M
Capital spending —
Q4 '25
Cash from operations $57.2M
Capital spending —
Q1 '26
Cash from operations $49.4M
Capital spending —
Q2 '26
Cash from operations $68.3M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Kimbell Royalty Partners, LP returned — to shareholders in fiscal 2025. The diluted share count rose 4.5%.
FY18
Dividends —
Buybacks —
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
Q3 '23
Dividends —
Buybacks —
Q4 '23
Dividends —
Buybacks —
Q1 '24
Dividends —
Buybacks —
Q2 '24
Dividends —
Buybacks —
Q3 '24
Dividends —
Buybacks —
Q4 '24
Dividends —
Buybacks —
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks —
Q4 '25
Dividends —
Buybacks —
Q1 '26
Dividends —
Buybacks $7.3M
Q2 '26
Dividends —
Buybacks $7.4M
Dividends
Buybacks
FY18
Diluted shares 0.02B
FY19
Diluted shares 0.02B
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.06B
FY22
Diluted shares 0.07B
FY23
Diluted shares 0.09B
FY24
Diluted shares 0.12B
FY25
Diluted shares 0.12B
Balance sheet
Cash, debt and the ratios that show how comfortably Kimbell Royalty Partners, LP can carry it.
FY18
Cash $15.8M
Debt $87.3M
FY19
Cash $14.2M
Debt $100M
FY20
Cash $9.8M
Debt $172M
FY21
Cash $7.1M
Debt —
FY22
Cash $24.6M
Debt —
FY23
Cash $31.0M
Debt —
FY24
Cash $34.2M
Debt —
FY25
Cash $44.0M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $7.1M | $24.6M | $31.0M | $34.2M | $44.0M |
| Interest coverage | 5.4x | 9.9x | 4.2x | 1.4x | 3.9x |
| Current ratio | 1.6x | 4.0x | 7.9x | 6.7x | 8.6x |
| Quick ratio | 1.6x | 4.0x | 7.9x | 6.7x | 8.6x |
| Total assets | $601M | $1.1B | $1.3B | $1.1B | $1.2B |
| Total liabilities | $253M | $263M | $309M | $256M | $456M |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✕ | ✓ | ✓ | ✕ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✕ | ✕ | — | — | — | — | — |
| Current ratio rose | — | ✕ | ✕ | ✕ | ✓ | ✓ | ✕ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✕ |
| F-score | — / 3 | 3 / 8 | 3 / 8 | 5 / 7 | 6 / 7 | 4 / 7 | 4 / 7 | 5 / 7 |
| Accruals ratio | −11.3% | −31.8% | −48.5% | −8.4% | −4.3% | −7.6% | −19.5% | −12.5% |
| Altman Z'' | — | — | — | — | — | — | — | — |
8 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $70.3M | $108M | $90.5M | $136M | $248M | $294M | $309M | $334M |
| Operating income | −$48.2M | −$152M | −$251M | $49.3M | $137M | $110M | $37.0M | $133M |
| Interest expense | $4.1M | $5.8M | $6.4M | $9.2M | $13.8M | $26.0M | $26.7M | $34.5M |
| Pretax income | −$52.3M | −$157M | −$257M | $42.5M | $134M | $86.8M | $10.3M | $98.3M |
| Income tax | $0.0M | $0.9M | −$0.9M | $0.1M | $2.7M | $3.8M | −$0.8M | −$1.3M |
| Net income | −$52.3M | −$158M | −$256M | $42.4M | $131M | $83.0M | $11.1M | $99.7M |
| Net income to common | −$56.7M | — | — | — | — | — | — | — |
| Diluted EPS | −$3.08 | −$3.92 | −$4.85 | $0.51 | $1.72 | $0.91 | −$0.12 | $0.62 |
| Diluted shares | 0.02B | 0.02B | 0.03B | 0.06B | 0.07B | 0.09B | 0.12B | 0.12B |
| Cash flow | ||||||||
| Cash from operations | $33.2M | $80.7M | $62.2M | $91.4M | $167M | $174M | $251M | $246M |
| Capital expenditure | $0.4M | — | — | — | — | — | — | — |
| Free cash flow | $32.8M | — | — | — | — | — | — | — |
| Depreciation and amortization | $25.2M | $52.1M | $48.0M | $36.8M | $50.1M | $96.5M | $135M | $125M |
| Stock-based compensation | $3.2M | $7.5M | $9.3M | $10.6M | $11.1M | $13.1M | $16.4M | $16.3M |
| Balance sheet | ||||||||
| Cash and short-term investments | $15.8M | $14.2M | $9.8M | $7.1M | $24.6M | $31.0M | $34.2M | $44.0M |
| Total debt | $87.3M | $100M | $172M | — | — | — | — | — |
| Current assets | $37.6M | $34.1M | $28.3M | $45.4M | $75.2M | $103M | $85.3M | $88.5M |
| Current liabilities | $3.8M | $5.4M | $8.8M | $28.3M | $18.8M | $13.0M | $12.7M | $10.2M |
| Property and equipment, net | $0.4M | $1.3M | $2.0M | $1.9M | $1.0M | $0.6M | $0.3M | $0.6M |
| Total assets | $753M | $749M | $565M | $601M | $1.1B | $1.3B | $1.1B | $1.2B |
| Total liabilities | $91.1M | $109M | $186M | $253M | $263M | $309M | $256M | $456M |
| Margins | ||||||||
| Operating margin | −68.6% | −140.1% | −277.1% | 36.4% | 55.2% | 37.4% | 12.0% | 39.8% |
| EBITDA margin | −32.7% | −91.9% | −224.1% | 63.5% | 75.4% | 70.2% | 55.6% | 77.1% |
| Net margin | −74.4% | −146.2% | −283.0% | 31.3% | 52.7% | 28.2% | 3.6% | 29.9% |
| FCF margin | 46.7% | — | — | — | — | — | — | — |
| Returns | ||||||||
| Return on capital employed | −6.4% | −20.4% | −45.1% | 8.6% | 12.9% | 8.3% | 3.3% | 10.9% |
| Return on assets | −6.9% | −21.1% | −39.0% | 7.3% | 15.6% | 6.9% | 0.9% | 8.5% |
| Growth | ||||||||
| Revenue growth | — | 54.0% | −16.4% | 49.9% | 82.9% | 18.5% | 5.2% | 7.9% |
| Net income growth | — | — | — | — | 208.2% | −36.5% | −86.7% | 800.2% |
| EPS growth | — | — | — | — | 237.3% | −47.1% | −113.2% | — |
| Share count change | — | 14.9% | 62.9% | 76.5% | 8.0% | 41.3% | 24.7% | 4.5% |
| Financial health | ||||||||
| Interest coverage | −11.8x | −26.1x | −39.0x | 5.4x | 9.9x | 4.2x | 1.4x | 3.9x |
| Current ratio | 9.9x | 6.3x | 3.2x | 1.6x | 4.0x | 7.9x | 6.7x | 8.6x |
| Quick ratio | 9.9x | 6.3x | 3.2x | 1.6x | 4.0x | 7.9x | 6.7x | 8.6x |
| Capital allocation | ||||||||
| Capex / revenue | 0.6% | — | — | — | — | — | — | — |
| Stock comp / revenue | 4.5% | 6.9% | 10.2% | 7.8% | 4.5% | 4.5% | 5.3% | 4.9% |
| Quality scores | ||||||||
| Piotroski F-score | — | 3.0 | 3.0 | 5.0 | 6.0 | 4.0 | 4.0 | 5.0 |
| Accruals ratio | −11.3% | −31.8% | −48.5% | −8.4% | −4.3% | −7.6% | −19.5% | −12.5% |
Source: SEC EDGAR XBRL filings (CIK 0001657788). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.