What is Kimbell Royalty's operating income?

Kimbell Royalty's total operating income in 2025 was $132.83 million, based on the following breakdown: Total Gross Profit: $333.77 million Total Operating Expenses: $201.00 million

Kimbell Royalty (KRP) Financials

$14.86 -0.02 (-0.13%)

Closing price 09/4/2026 03:58 PM Eastern

Extended Trading

$15.00 +0.15 (+0.98%)

As of 08:57 AM Eastern

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Annual Income Statements for Kimbell Royalty

This table shows Kimbell Royalty's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-31	-6.21	-57	-83	-167	23	112	60	-8.77	56
Consolidated Net Income / (Loss)	-31	-6.21	-52	-158	-256	42	131	83	11	100
Net Income / (Loss) Continuing Operations	-31	-6.21	-52	-158	-256	42	131	83	11	100
Total Pre-Tax Income	-31	-6.19	-52	-157	-257	43	134	87	10	98
Total Operating Income	-31	-5.77	-48	-152	-251	49	137	110	37	133
Total Gross Profit	4.68	3.61	70	108	90	136	248	294	309	334
Total Revenue	4.68	3.61	70	108	90	136	248	294	309	334
Operating Revenue	4.68	3.61	67	110	93	178	285	273	311	322
Other Revenue	-	-	3.33	-1.73	-2.45	-43	-37	21	-1.35	12
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.09	0.07	0.06
Operating Cost of Revenue	-	-	-	-	-	-	-	0.09	0.07	0.06
Total Operating Expenses	36	9.37	118	260	341	86	111	184	272	201
Selling, General & Admin Expense	1.79	1.75	17	23	26	27	29	36	39	40
Marketing Expense	1.17	1.03	9.05	16	16	23	30	33	37	37
Depreciation Expense	4.01	1.60	25	52	48	37	50	96	135	125
Other Operating Expenses / (Income)	-	-	-	-	-	0.00	2.30	0.93	0.00	0.00
Impairment Charge	29	4.99	67	169	252	0.00	0.00	18	62	0.00
Total Other Income / (Expense), net	-0.39	-0.42	-4.09	-5.73	-6.24	-6.80	-3.38	-23	-27	-34
Interest Expense	0.39	0.42	4.09	5.81	6.91	9.18	14	26	27	34
Interest & Investment Income	-	-	0.00	0.08	0.76	1.12	6.39	3.51	0.00	0.00
Other Income / (Expense), net	-	-	0.00	0.00	-0.10	1.26	4.04	-0.18	0.00	-0.01
Income Tax Expense	-0.03	0.02	0.02	0.90	-0.89	0.07	2.74	3.77	-0.77	-1.30
Preferred Stock Dividends Declared	-	-	6.31	14	7.81	11	0.00	6.31	21	35
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-1.86	-89	-97	8.50	19	16	-1.25	8.70
Basic Earnings per Share	($51.83)	($10.28)	($3.08)	($3.92)	($4.85)	$0.56	$1.75	$0.93	($0.12)	$0.62
Weighted Average Basic Shares Outstanding	604.14K	604.14K	18.44M	21.19M	34.53M	40.40M	54.11M	66.60M	76.24M	90.80M
Diluted Earnings per Share	($51.83)	($10.28)	($3.08)	($3.92)	($4.85)	$0.51	$1.72	$0.91	($0.12)	$0.62
Weighted Average Diluted Shares Outstanding	604.14K	604.14K	18.44M	21.19M	34.53M	60.96M	65.84M	93.06M	116.05M	121.31M
Weighted Average Basic & Diluted Shares Outstanding	-	-	18.44M	21.19M	34.53M	40.40M	54.11M	66.60M	76.24M	90.80M

This table shows Kimbell Royalty's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	9.79	3.19	8.43	17	-38	18	2.02	17	19	3.98	38
Consolidated Net Income / (Loss)	18	9.34	15	26	-39	26	27	22	25	6.94	47
Net Income / (Loss) Continuing Operations	18	9.34	15	26	-39	26	27	22	25	6.94	47
Total Pre-Tax Income	19	10	17	28	-45	27	29	19	23	7.65	51
Total Operating Income	27	18	24	34	-39	34	38	29	33	16	60
Total Gross Profit	99	82	77	84	67	84	87	81	82	66	112
Total Revenue	99	82	77	84	67	84	87	81	82	66	112
Operating Revenue	85	88	78	74	71	90	77	77	77	84	106
Other Revenue	15	-5.70	-1.05	9.55	-4.15	-6.05	9.34	3.43	5.37	-19	6.11
Total Cost of Revenue	-	0.00	0.02	0.02	-	0.01	0.01	0.01	0.03	0.01	0.01
Operating Cost of Revenue	-	-	0.02	0.02	-	0.01	0.01	0.01	-	0.01	0.01
Total Operating Expenses	73	65	53	50	105	51	49	52	50	50	53
Selling, General & Admin Expense	9.12	9.45	10	9.47	9.37	9.64	9.57	10	10	9.39	10
Marketing Expense	9.04	11	9.41	7.95	8.08	9.88	8.73	11	7.52	11	12
Depreciation Expense	36	38	33	32	32	31	30	31	32	29	30
Total Other Income / (Expense), net	-7.46	-7.30	-6.95	-6.49	-5.96	-6.63	-8.95	-9.78	-9.12	-8.15	-8.40
Interest Expense	7.47	7.30	6.95	6.49	5.96	6.62	8.95	9.78	9.12	8.15	8.40
Other Income / (Expense), net	-	0.00	0.00	0.00	-	-0.01	0.00	0.00	0.00	0.00	0.00
Income Tax Expense	1.33	0.92	1.76	1.91	-5.36	1.09	2.17	-3.26	-1.30	0.70	3.98
Preferred Stock Dividends Declared	5.27	5.26	5.24	5.30	5.30	5.20	24	2.66	2.66	2.60	2.63
Net Income / (Loss) Attributable to Noncontrolling Interest	2.76	0.89	1.51	3.12	-6.78	2.77	0.31	2.64	2.98	0.37	6.25
Basic Earnings per Share	$0.12	$0.04	$0.11	$0.22	($0.49)	$0.20	$0.02	$0.19	$0.21	$0.04	$0.40
Weighted Average Basic Shares Outstanding	66.60M	72.11M	74.84M	78.98M	76.24M	89.68M	91.17M	91.17M	90.80M	93.13M	96.31M
Diluted Earnings per Share	$0.13	$0.04	$0.11	$0.22	($0.49)	$0.20	$0.02	$0.19	$0.21	$0.04	$0.40
Weighted Average Diluted Shares Outstanding	93.06M	116.54M	116.59M	116.41M	116.05M	127.95M	122.92M	118.21M	121.31M	119.09M	118.88M
Weighted Average Basic & Diluted Shares Outstanding	66.60M	72.11M	74.84M	78.98M	76.24M	89.68M	91.17M	91.17M	90.80M	93.13M	96.31M

This table details how cash moves in and out of Kimbell Royalty's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.11	0.13	10	-1.57	-4.40	-2.75	-437	5.97	3.18	9.81
Net Cash From Operating Activities	2.71	1.09	33	81	62	91	167	174	251	246
Net Cash From Continuing Operating Activities	2.71	1.09	33	81	62	91	167	174	251	246
Net Income / (Loss) Continuing Operations	-31	-6.21	-52	-158	-256	42	131	83	11	100
Consolidated Net Income / (Loss)	-31	-6.21	-52	-158	-256	42	131	83	11	100
Depreciation Expense	4.01	1.60	25	52	48	37	50	96	135	125
Amortization Expense	0.03	0.01	0.47	1.20	1.38	1.85	2.19	2.28	2.48	2.70
Non-Cash Adjustments To Reconcile Net Income	30	5.53	59	184	270	13	-18	-10	104	18
Changes in Operating Assets and Liabilities, net	0.25	0.15	0.91	1.18	-0.68	-2.93	1.57	2.60	-1.56	1.17
Net Cash From Investing Activities	-0.54	-0.10	-201	-16	-91	-56	-375	-247	-0.21	-223
Net Cash From Continuing Investing Activities	-0.54	-0.10	-201	-16	-91	-56	-375	-247	-0.21	-223
Purchase of Property, Plant & Equipment	-0.54	-0.10	-212	-13	-89	-56	-141	-491	-0.21	-223
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	0.00	0.00	0.01
Sale and/or Maturity of Investments	-	-	0.00	0.09	0.00	0.50	3.64	243	0.00	0.00
Other Investing Activities, net	-	-	-	-	-	0.00	0.00	0.96	0.00	0.00
Net Cash From Financing Activities	-2.06	-0.86	178	-67	24	-39	226	78	-248	-13
Net Cash From Continuing Financing Activities	-2.06	-0.86	178	-67	24	-39	-229	78	-248	-13
Repayment of Debt	-0.61	-0.86	-71	-0.09	-96	-92	-184	-147	-60	-500
Repurchase of Preferred Equity	-	-	0.00	-0.72	-61	-67	-	0.00	0.00	-180
Repurchase of Common Equity	-	-	-	-	0.00	-2.06	-6.01	-4.85	-4.91	-5.08
Payment of Dividends	-4.51	-	-41	-43	-34	-50	-107	-121	-155	-164
Issuance of Debt	3.05	-	124	13	163	137	199	201	4.96	696
Issuance of Preferred Equity	-	-	103	-	-	0.00	0.00	314	0.00	0.00
Issuance of Common Equity	-	-	-	-	-	58	-228	111	0.00	164
Other Financing Activities, net	-	-	62	-36	53	-22	97	-275	-32	-23
Cash Interest Paid	0.33	0.37	3.29	5.18	5.35	7.54	11	24	25	32
Cash Income Taxes Paid	0.01	0.03	0.00	0.80	0.00	0.00	3.08	2.28	0.00	-3.93

This table details how cash moves in and out of Kimbell Royalty's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-8.54	8.69	-8.73	3.76	-0.54	1.46	-1.10	5.48	3.97	-6.82	7.77
Net Cash From Operating Activities	59	69	63	62	57	54	72	63	57	49	68
Net Cash From Continuing Operating Activities	59	69	63	62	57	54	72	63	57	49	68
Net Income / (Loss) Continuing Operations	18	9.34	15	26	-39	26	27	22	25	6.94	47
Consolidated Net Income / (Loss)	18	9.34	15	26	-39	26	27	22	25	6.94	47
Depreciation Expense	36	38	33	32	32	31	30	31	32	29	30
Amortization Expense	0.61	0.62	0.62	0.62	0.62	0.62	0.66	0.72	0.70	0.59	0.60
Non-Cash Adjustments To Reconcile Net Income	8.48	23	10	1.19	70	-4.28	8.61	9.11	4.94	14	-13
Changes in Operating Assets and Liabilities, net	-3.81	-1.78	3.76	2.64	-6.28	0.84	5.92	-0.43	-5.16	-1.35	3.34
Net Cash From Investing Activities	-0.56	-0.09	-0.04	-0.04	-0.03	-223	-0.34	-0.12	-0.07	-0.01	-44
Net Cash From Continuing Investing Activities	-0.56	-0.09	-0.04	-0.04	-0.03	-223	-0.34	-0.12	-0.07	-0.01	-44
Purchase of Property, Plant & Equipment	-0.56	-0.09	-0.04	-0.04	-0.03	-223	-0.34	-0.12	-0.07	-0.01	-44
Net Cash From Financing Activities	-67	-60	-72	-59	-57	170	-73	-57	-53	-56	-16
Net Cash From Continuing Financing Activities	-67	-60	-72	-59	-57	170	-73	-57	-53	-56	-16
Repayment of Debt	-18	-14	-20	-14	-13	-14	-18	-14	-454	-14	-15
Repurchase of Common Equity	-	-4.91	-	-	-	-5.08	-0.00	-	-	-12	-7.36
Payment of Dividends	-39	-37	-41	-39	-38	-42	-49	-38	-35	-39	-43
Issuance of Debt	-	4.96	-	-	-	74	180	-	442	13	52
Other Financing Activities, net	-11	-9.48	-11	-6.16	-5.97	-5.81	-6.82	-5.53	-5.09	-3.54	-3.40
Cash Interest Paid	6.81	6.70	6.63	6.04	5.91	4.68	6.71	9.58	11	7.68	7.88
Cash Income Taxes Paid	-	-	-	-	-	0.00	-	-	-4.15	0.04	4.71

This table presents Kimbell Royalty's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	21	295	753	749	565	601	1,077	1,338	1,120	1,229
Total Current Assets	1.32	13	38	34	28	45	75	103	85	88
Cash & Equivalents	0.51	5.63	16	14	9.80	7.05	25	31	34	44
Accounts Receivable	0.82	7.03	19	19	19	38	51	61	49	38
Other Current Assets	-	-	2.98	0.69	0.00	0.17	241	11	2.40	6.50
Plant, Property, & Equipment, net	19	282	711	706	523	541	754	1,222	1,025	1,124
Plant, Property & Equipment, gross	71	298	819	1,033	1,149	1,204	1,466	2,049	2,049	2,271
Accumulated Depreciation	52	15	108	329	628	664	713	827	1,024	1,148
Total Noncurrent Assets	0.01	0.26	4.43	8.69	13	15	6.28	12	9.56	17
Other Noncurrent Operating Assets	-	-	1.25	3.52	3.12	4.44	3.28	5.08	4.30	7.19
Other Noncurrent Nonoperating Assets	0.01	0.26	3.18	2.22	5.09	4.21	3.00	7.33	5.26	9.72
Total Liabilities & Shareholders' Equity	21	295	753	749	565	601	1,077	1,338	1,120	1,229
Total Liabilities	12	33	91	109	186	253	263	309	256	456
Total Current Liabilities	1.17	2.25	3.80	5.44	8.77	28	19	13	13	10
Accounts Payable	1.03	0.32	1.33	1.21	0.89	0.81	1.21	6.59	6.51	3.14
Accrued Expenses	0.11	1.75	2.47	4.23	4.77	3.32	4.91	6.17	5.99	7.10
Other Current Liabilities	0.03	0.18	-	0.00	3.11	24	13	0.21	0.26	0.00
Total Noncurrent Liabilities	11	31	87	103	178	224	244	296	244	446
Long-Term Debt	11	31	87	100	172	217	233	294	239	442
Capital Lease Obligations	-	-	-	-	-	-	-	1.89	3.56	4.41
Other Noncurrent Operating Liabilities	0.12	0.13	-	3.12	6.02	7.20	11	0.26	0.95	0.03
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	69	75	43	0.00	237	314	316	159
Total Equity & Noncontrolling Interests	8.63	262	593	565	336	349	577	714	547	614
Total Preferred & Common Equity	8.63	262	301	284	259	330	465	557	464	532
Total Common Equity	8.63	262	301	284	259	330	465	557	464	532
Common Stock	-	262	301	284	259	330	465	557	464	532
Noncontrolling Interest	-	-	292	281	77	19	112	157	83	83

This table presents Kimbell Royalty's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	1,046	934	1,390	1,291	1,243	1,215	1,326	1,285	1,254	1,194	1,326
Total Current Assets	58	71	105	103	89	92	99	88	88	85	101
Cash & Equivalents	19	21	40	40	31	35	36	35	40	37	45
Accounts Receivable	39	48	64	58	56	51	64	50	44	48	56
Other Current Assets	-	1.79	1.49	6.07	2.38	6.82	0.00	3.77	4.60	0.00	0.29
Plant, Property, & Equipment, net	0.87	853	1,276	1,178	1,145	1,113	1,217	1,187	1,156	1,095	1,211
Plant, Property & Equipment, gross	1,466	1,602	2,048	2,049	2,049	2,049	2,271	2,271	2,271	2,271	2,418
Accumulated Depreciation	730	750	773	871	904	936	1,055	1,085	1,116	1,177	1,208
Total Noncurrent Assets	987	10	8.46	9.59	8.71	9.48	9.60	9.95	9.64	14	15
Other Noncurrent Operating Assets	984	3.94	2.41	2.78	2.43	3.69	4.87	5.05	5.26	4.91	5.41
Other Noncurrent Nonoperating Assets	2.49	6.31	6.05	6.81	6.28	5.79	4.73	4.90	4.39	9.49	9.36
Total Liabilities & Shareholders' Equity	1,046	934	1,390	1,291	1,243	1,215	1,326	1,285	1,254	1,194	1,326
Total Liabilities	244	282	329	301	284	272	322	484	469	465	497
Total Current Liabilities	8.14	10	15	12	16	18	17	16	16	17	14
Accounts Payable	0.92	1.37	3.19	6.85	6.50	6.87	5.47	3.09	4.50	2.87	4.05
Accrued Expenses	5.17	8.34	11	5.33	8.98	11	7.88	13	12	6.62	8.79
Other Current Liabilities	2.06	0.43	1.42	0.00	0.18	0.00	3.17	0.00	0.00	7.06	0.96
Total Noncurrent Liabilities	235	272	314	289	269	254	306	467	453	448	484
Long-Term Debt	224	270	310	285	266	252	299	462	448	441	479
Capital Lease Obligations	-	2.07	1.98	1.80	1.70	1.60	4.65	4.57	4.49	4.33	4.24
Other Noncurrent Operating Liabilities	11	0.43	1.76	1.61	1.23	0.11	2.03	0.68	0.00	3.09	0.75
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	237	0.00	314	315	315	316	316	158	159	159	159
Total Equity & Noncontrolling Interests	565	652	746	675	643	627	687	643	626	570	670
Total Preferred & Common Equity	593	597	696	641	723	532	595	557	542	522	576
Total Common Equity	593	597	696	641	723	532	595	557	542	522	576
Common Stock	593	597	696	641	723	532	595	557	542	522	576
Noncontrolling Interest	565	55	50	34	-80	95	92	86	84	48	94

This table displays calculated financial ratios and metrics derived from Kimbell Royalty's official financial filings.

Metric	2015	2016	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-23.02%	0.00%	54.11%	-16.39%	49.88%	82.91%	18.55%	5.18%	7.93%
EBITDA Growth	0.00%	84.58%	0.00%	-336.94%	-105.04%	144.29%	116.57%	7.87%	-16.24%	48.96%
EBIT Growth	0.00%	81.37%	0.00%	-214.70%	-65.48%	120.16%	178.72%	-22.18%	-66.27%	259.02%
NOPAT Growth	0.00%	81.37%	0.00%	-214.70%	-65.42%	128.05%	172.44%	-21.63%	-62.17%	238.48%
Net Income Growth	0.00%	80.16%	0.00%	-202.60%	-61.87%	116.57%	208.20%	-36.54%	-86.66%	800.19%
EPS Growth	0.00%	80.17%	0.00%	-27.27%	-23.72%	110.52%	237.25%	-47.09%	-113.19%	616.67%
Operating Cash Flow Growth	0.00%	-59.95%	0.00%	143.06%	-22.87%	46.91%	82.23%	4.58%	43.98%	-1.78%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	115.92%	89.90%	-1,251.07%	51.55%	259.79%	-86.11%
Invested Capital Growth	0.00%	0.00%	0.00%	-1.35%	-26.48%	3.80%	85.27%	26.24%	-17.06%	9.24%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-25.71%	-2.24%	31.35%	5.53%	11.58%	-9.50%	4.95%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-6,739.80%	3.52%	350.45%	6.08%	3.52%	-28.53%	37.93%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-203.30%	3.74%	167.95%	4.43%	-10.18%	-63.83%	115.84%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-203.30%	3.78%	194.46%	4.98%	-11.08%	-57.75%	85.74%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-190.49%	3.67%	151.67%	3.58%	-17.35%	-83.76%	180.01%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-211.11%	13.70%	131.48%	22.86%	-41.67%	-124.00%	875.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	2.69%	-3.71%	9.64%	10.82%	13.46%	-1.08%	0.27%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	166.46%	-70.43%	-125.99%	63.97%	-2.21%	0.66%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-9.10%	-16.36%	13.86%	34.26%	-3.09%	-7.74%	-2.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	99.98%
EBITDA Margin	-574.73%	-115.10%	-32.02%	-90.78%	-222.65%	65.79%	77.90%	70.88%	56.45%	77.91%
Operating Margin	-660.86%	-159.92%	-68.59%	-140.06%	-277.11%	36.36%	55.20%	37.36%	11.96%	39.79%
EBIT Margin	-660.86%	-159.92%	-68.59%	-140.06%	-277.22%	37.29%	56.83%	37.30%	11.96%	39.79%
Profit (Net Income) Margin	-668.40%	-172.25%	-74.45%	-146.18%	-283.03%	31.29%	52.73%	28.23%	3.58%	29.85%
Tax Burden Percent	99.90%	100.32%	100.05%	100.57%	99.66%	99.83%	97.95%	95.66%	107.49%	101.33%
Interest Burden Percent	101.24%	107.37%	108.50%	103.78%	102.45%	84.06%	94.73%	79.10%	27.84%	74.05%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	2.05%	4.34%	-7.49%	-1.33%
Return on Invested Capital (ROIC)	0.00%	-43.16%	-4.62%	-14.62%	-28.07%	9.12%	17.10%	9.12%	3.38%	12.06%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-86.31%	-31.78%	-84.51%	-97.45%	5.27%	15.47%	-0.42%	-9.07%	0.32%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-100.79%	-3.28%	-9.68%	-22.23%	2.55%	5.41%	-0.11%	-2.21%	0.12%
Return on Equity (ROE)	0.00%	-143.95%	-7.90%	-24.30%	-50.30%	11.67%	22.51%	9.01%	1.17%	12.18%
Cash Return on Invested Capital (CROIC)	0.00%	-243.16%	0.00%	-13.26%	2.45%	5.39%	-42.69%	-14.07%	22.03%	3.23%
Operating Return on Assets (OROA)	0.00%	-28.08%	-9.19%	-20.18%	-38.20%	8.67%	16.80%	9.09%	3.01%	11.31%
Return on Assets (ROA)	0.00%	-30.25%	-9.97%	-21.07%	-39.00%	7.28%	15.59%	6.88%	0.90%	8.48%
Return on Common Equity (ROCE)	0.00%	-143.95%	-4.81%	-10.91%	-26.80%	9.44%	15.38%	5.00%	0.63%	7.41%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-71.97%	-17.38%	-55.74%	-99.02%	12.88%	28.16%	14.91%	2.38%	0.00%
Net Operating Profit after Tax (NOPAT)	-22	-4.04	-34	-106	-176	49	134	105	40	135
NOPAT Margin	-462.61%	-111.95%	-48.01%	-98.04%	-193.98%	36.30%	54.06%	35.74%	12.86%	40.32%
Net Nonoperating Expense Percent (NNEP)	0.00%	43.16%	27.16%	69.88%	69.38%	3.85%	1.63%	9.54%	12.45%	11.73%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	16.57%	10.41%	5.03%	12.69%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%
SG&A Expenses to Revenue	38.21%	48.42%	23.99%	20.94%	28.63%	19.89%	11.74%	12.13%	12.46%	11.88%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	760.86%	259.92%	168.63%	240.06%	377.11%	63.64%	44.80%	62.64%	88.04%	60.21%
Earnings before Interest and Taxes (EBIT)	-31	-5.77	-48	-152	-251	51	141	110	37	133
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-27	-4.15	-22	-98	-201	89	193	208	175	260
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.48	0.82	0.75	1.80	1.90	2.25	4.06	2.68
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.48	0.82	0.75	1.81	1.90	2.25	4.06	2.68
Price to Revenue (P/Rev)	0.00	0.00	2.07	2.14	2.13	4.38	3.55	4.26	6.09	4.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	26.19	7.86	20.82	0.00	25.43
Dividend Yield	0.00%	0.00%	21.04%	14.45%	15.58%	11.69%	17.72%	12.84%	10.78%	13.61%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	3.82%	12.72%	4.80%	0.00%	3.93%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.79	0.93	0.89	1.49	1.41	1.55	2.34	1.78
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	8.24	6.20	5.18	6.04	5.79	6.77	8.05	6.20
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	9.18	7.44	9.55	14.27	7.96
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	16.19	10.20	18.15	67.34	15.58
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	16.64	10.72	18.94	62.65	15.38
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	17.42	8.31	7.54	8.96	8.63	11.42	9.93	8.40
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	30.62	28.15	0.00	0.00	9.61	57.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	1.23	0.13	0.16	0.45	0.62	0.29	0.29	0.28	0.58
Long-Term Debt to Equity	0.00	1.23	0.13	0.16	0.45	0.62	0.29	0.29	0.28	0.58
Financial Leverage	0.00	1.17	0.10	0.11	0.23	0.49	0.35	0.25	0.24	0.36
Leverage Ratio	0.00	2.38	1.13	1.15	1.29	1.60	1.44	1.31	1.30	1.44
Compound Leverage Factor	0.00	2.55	1.23	1.20	1.32	1.35	1.37	1.04	0.36	1.06
Debt to Total Capital	0.00%	55.11%	11.65%	13.53%	31.20%	38.36%	22.27%	22.35%	21.94%	36.58%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	55.11%	11.65%	13.53%	31.20%	38.36%	22.27%	22.35%	21.94%	36.58%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	48.22%	48.12%	21.76%	3.40%	33.34%	35.61%	36.09%	19.80%
Common Equity to Total Capital	0.00%	44.89%	40.13%	38.35%	47.04%	58.24%	44.39%	42.04%	41.96%	43.63%
Debt to EBITDA	0.00	-2.55	-3.88	-1.02	-0.85	2.43	1.21	1.42	1.39	1.71
Net Debt to EBITDA	0.00	-2.43	-3.18	-0.84	-0.78	2.30	1.08	1.27	1.19	1.55
Long-Term Debt to EBITDA	0.00	-2.55	-3.88	-1.02	-0.85	2.43	1.21	1.42	1.39	1.71
Debt to NOPAT	0.00	-2.63	-2.59	-0.94	-0.98	4.41	1.74	2.82	6.10	3.31
Net Debt to NOPAT	0.00	-2.50	-2.12	-0.78	-0.89	4.17	1.55	2.52	5.24	2.99
Long-Term Debt to NOPAT	0.00	-2.63	-2.59	-0.94	-0.98	4.41	1.74	2.82	6.10	3.31
Altman Z-Score	0.00	0.00	0.89	0.80	-0.64	1.95	2.73	3.00	4.87	2.58
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	39.10%	55.10%	46.72%	19.10%	31.67%	44.55%	46.03%	39.14%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.13	9.90	6.28	3.23	1.60	4.01	7.95	6.69	8.64
Quick Ratio	0.00	1.13	9.11	6.15	3.23	1.60	4.03	7.07	6.50	8.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-23	0.00	-96	15	29	-335	-162	259	36
Operating Cash Flow to CapEx	503.70%	1,114.88%	15.70%	634.52%	70.26%	163.08%	117.80%	35.51%	119,545.90%	110.28%
Free Cash Flow to Firm to Interest Expense	0.00	-53.55	0.00	-16.55	2.22	3.17	-24.23	-6.14	9.71	1.04
Operating Cash Flow to Interest Expense	7.04	2.56	8.11	13.88	9.01	9.96	12.06	6.59	9.40	7.15
Operating Cash Flow Less CapEx to Interest Expense	5.65	2.33	-43.57	11.69	-3.82	3.85	1.82	-11.98	9.39	0.67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.18	0.13	0.14	0.14	0.23	0.30	0.24	0.25	0.28
Accounts Receivable Turnover	0.00	4.41	5.43	5.68	4.79	4.78	5.59	5.29	5.65	7.70
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.19	0.14	0.15	0.15	0.26	0.38	0.30	0.28	0.31
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01
Days Sales Outstanding (DSO)	0.00	82.83	67.28	64.26	76.19	76.34	65.30	69.06	64.56	47.40
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30,361.08
Cash Conversion Cycle (CCC)	0.00	82.83	67.28	64.26	76.19	76.34	65.30	69.06	64.56	-30,313.68
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	19	731	721	530	550	1,019	1,286	1,067	1,165
Invested Capital Turnover	0.00	0.39	0.10	0.15	0.14	0.25	0.32	0.26	0.26	0.30
Increase / (Decrease) in Invested Capital	0.00	19	0.00	-9.88	-191	20	469	267	-219	99
Enterprise Value (EV)	0.00	0.00	578	671	469	819	1,437	1,991	2,491	2,070
Market Capitalization	0.00	0.00	145	232	193	594	881	1,254	1,883	1,427
Book Value per Share	$0.00	$14.29	$9.93	$6.05	$4.33	$5.45	$7.09	$5.88	$4.86	$4.93
Tangible Book Value per Share	$0.00	$14.29	$9.93	$6.05	$4.33	$5.41	$7.09	$5.88	$4.86	$4.93
Total Capital	0.00	19	749	740	550	566	1,046	1,325	1,106	1,219
Total Debt	0.00	11	87	100	172	217	233	296	243	446
Total Long-Term Debt	0.00	11	87	100	172	217	233	296	243	446
Net Debt	0.00	10	72	83	157	205	208	265	209	402
Capital Expenditures (CapEx)	0.54	0.10	212	13	89	56	141	491	0.21	223
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-0.35	18	14	9.76	10	31	59	38	34
Debt-free Net Working Capital (DFNWC)	0.00	0.15	34	29	20	17	56	90	73	78
Net Working Capital (NWC)	0.00	0.15	34	29	20	17	56	90	73	78
Net Nonoperating Expense (NNE)	9.64	2.18	19	52	81	6.79	3.32	22	29	35
Net Nonoperating Obligations (NNO)	0.00	10	68	81	152	201	205	258	203	392
Total Depreciation and Amortization (D&A)	4.04	1.62	26	53	49	39	52	99	138	127
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-9.76%	25.69%	13.39%	10.79%	7.41%	12.66%	20.12%	12.40%	10.26%
Debt-free Net Working Capital to Revenue	0.00%	4.27%	48.15%	26.52%	21.62%	12.61%	22.75%	30.66%	23.45%	23.44%
Net Working Capital to Revenue	0.00%	4.27%	48.15%	26.52%	21.62%	12.61%	22.75%	30.66%	23.45%	23.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($51.83)	($10.28)	($3.08)	($3.92)	($4.85)	$0.56	$1.75	$0.00	($0.12)	$0.62
Adjusted Weighted Average Basic Shares Outstanding	604.14K	604.14K	18.44M	21.19M	34.53M	40.40M	54.11M	0.00	76.24M	90.80M
Adjusted Diluted Earnings per Share	($51.83)	($10.28)	($3.08)	($3.92)	($4.85)	$0.51	$1.72	$0.00	($0.12)	$0.62
Adjusted Weighted Average Diluted Shares Outstanding	604.14K	604.14K	18.44M	21.19M	34.53M	60.96M	65.84M	0.00	116.05M	121.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	18.44M	21.19M	34.53M	40.40M	54.11M	0.00	76.24M	90.80M
Normalized Net Operating Profit after Tax (NOPAT)	-1.60	-0.54	13	12	0.58	49	134	123	69	93
Normalized NOPAT Margin	-34.18%	-15.04%	19.08%	11.37%	0.64%	36.30%	54.06%	41.67%	22.43%	27.85%
Pre Tax Income Margin	-669.09%	-171.70%	-74.41%	-145.35%	-284.01%	31.35%	53.83%	29.51%	3.33%	29.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-80.39	-13.58	-11.77	-26.07	-36.32	5.51	10.20	4.15	1.39	3.85
NOPAT to Interest Expense	-56.28	-9.50	-8.24	-18.25	-25.41	5.36	9.71	3.98	1.49	3.90
EBIT Less CapEx to Interest Expense	-81.79	-13.81	-63.46	-28.26	-49.15	-0.60	-0.04	-14.42	1.38	-2.63
NOPAT Less CapEx to Interest Expense	-57.67	-9.73	-59.93	-20.44	-38.24	-0.75	-0.53	-14.59	1.48	-2.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-14.40%	0.00%	-78.32%	-27.23%	-13.44%	118.08%	82.15%	146.18%	1,403.76%	164.61%
Augmented Payout Ratio	-14.40%	0.00%	-78.32%	-27.23%	-13.44%	122.94%	86.74%	152.02%	1,448.16%	169.71%

This table displays calculated financial ratios and metrics derived from Kimbell Royalty's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	107,888,028.00	107,774,590.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	107,888,028.00	107,774,590.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.04	0.36
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	44.43%	22.89%	26.04%	24.67%	-32.74%	2.40%	13.03%	-3.78%	23.59%	-22.17%	29.96%
EBITDA Growth	12.93%	9.43%	28.73%	37.14%	-109.87%	15.90%	19.77%	-9.51%	1,141.94%	-30.04%	31.31%
EBIT Growth	-31.51%	-47.31%	-2.31%	35.25%	-245.24%	91.13%	58.15%	-15.66%	184.37%	-52.93%	57.94%
NOPAT Growth	-34.65%	-49.72%	-8.66%	26.82%	-209.23%	101.60%	63.21%	6.05%	227.21%	-55.47%	57.53%
Net Income Growth	-49.42%	-67.69%	-14.67%	39.63%	-320.21%	176.89%	75.62%	-13.49%	163.18%	-73.15%	77.34%
EPS Growth	-83.33%	-88.89%	-52.17%	15.79%	-476.92%	400.00%	-81.82%	-13.64%	142.86%	-80.00%	1,900.00%
Operating Cash Flow Growth	53.53%	46.74%	99.51%	71.54%	-4.62%	-21.57%	15.01%	0.55%	1.16%	-8.72%	-5.55%
Free Cash Flow Firm Growth	43.73%	3.09%	-146.29%	137.33%	179.32%	98.12%	98.14%	-101.44%	-133.35%	3,999.10%	624.16%
Invested Capital Growth	26.24%	22.45%	32.59%	-12.88%	-17.06%	2.94%	3.36%	3.17%	9.24%	-11.01%	2.34%
Revenue Q/Q Growth	47.60%	-17.10%	-6.88%	9.42%	-20.37%	26.22%	2.78%	-6.85%	2.27%	-20.51%	71.61%
EBITDA Q/Q Growth	29.87%	-11.17%	2.11%	16.42%	-109.35%	1,142.69%	5.52%	-12.04%	7.66%	-29.99%	98.05%
EBIT Q/Q Growth	5.26%	-34.03%	36.06%	43.16%	-213.04%	186.81%	12.58%	-23.65%	13.07%	-51.56%	277.75%
NOPAT Q/Q Growth	-1.35%	-35.50%	33.98%	48.75%	-184.97%	219.05%	8.47%	-3.35%	1.93%	-58.33%	283.73%
Net Income Q/Q Growth	-3.53%	-47.63%	62.65%	69.92%	-252.14%	165.85%	3.17%	-16.31%	11.11%	-72.01%	581.35%
EPS Q/Q Growth	-31.58%	-69.23%	175.00%	100.00%	-322.73%	140.82%	-90.00%	850.00%	10.53%	-80.95%	900.00%
Operating Cash Flow Q/Q Growth	63.00%	16.42%	-8.93%	-0.74%	-9.37%	-4.28%	33.55%	-13.22%	-8.82%	-13.62%	38.18%
Free Cash Flow Firm Q/Q Growth	55.35%	13.56%	-29.13%	174.91%	-5.15%	-102.05%	-27.31%	41.92%	-2,098.94%	339.81%	-82.89%
Invested Capital Q/Q Growth	-3.09%	-4.31%	-3.42%	-2.72%	-7.74%	18.76%	-3.02%	-2.90%	-2.32%	-3.25%	11.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	99.98%	99.98%	99.96%	99.99%	99.99%
EBITDA Margin	63.94%	68.52%	75.14%	79.94%	-9.39%	77.55%	79.62%	75.18%	79.14%	69.70%	80.45%
Operating Margin	26.84%	21.35%	31.20%	40.82%	-57.95%	39.87%	43.66%	35.78%	39.56%	24.10%	53.06%
EBIT Margin	26.84%	21.35%	31.20%	40.82%	-57.95%	39.86%	43.66%	35.78%	39.56%	24.10%	53.06%
Profit (Net Income) Margin	17.97%	11.35%	19.83%	30.80%	-58.85%	30.70%	30.82%	27.69%	30.08%	10.59%	42.05%
Tax Burden Percent	93.08%	91.01%	89.62%	93.12%	87.99%	95.96%	92.49%	117.08%	105.55%	90.80%	92.24%
Interest Burden Percent	71.95%	58.42%	70.93%	81.02%	115.40%	80.27%	76.32%	66.09%	72.04%	48.39%	85.92%
Effective Tax Rate	6.92%	8.99%	10.38%	6.88%	0.00%	4.04%	7.51%	-17.08%	-5.55%	9.20%	7.76%
Return on Invested Capital (ROIC)	6.37%	5.38%	8.72%	10.46%	-10.67%	9.54%	10.73%	11.34%	12.49%	5.76%	13.43%
ROIC Less NNEP Spread (ROIC-NNEP)	3.37%	2.38%	6.10%	7.94%	-15.96%	7.01%	8.22%	7.66%	9.26%	3.52%	11.62%
Return on Net Nonoperating Assets (RNNOA)	0.85%	0.59%	1.80%	1.90%	-3.89%	1.77%	3.07%	2.76%	3.37%	1.35%	6.10%
Return on Equity (ROE)	7.22%	5.97%	10.52%	12.37%	-14.55%	11.31%	13.80%	14.10%	15.86%	7.11%	19.53%
Cash Return on Invested Capital (CROIC)	-14.07%	-12.18%	-19.64%	21.35%	22.03%	1.44%	2.26%	3.05%	3.23%	21.47%	8.69%
Operating Return on Assets (OROA)	6.54%	5.65%	9.32%	10.71%	-14.59%	9.48%	11.10%	9.22%	11.24%	6.03%	13.86%
Return on Assets (ROA)	4.38%	3.01%	5.93%	8.08%	-14.81%	7.30%	7.83%	7.14%	8.55%	2.65%	10.99%
Return on Common Equity (ROCE)	4.00%	4.11%	8.62%	7.58%	-7.85%	7.01%	10.03%	8.77%	9.65%	4.58%	13.57%
Return on Equity Simple (ROE_SIMPLE)	0.00%	9.89%	8.42%	12.81%	0.00%	4.64%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	25	16	21	32	-27	32	35	34	34	14	55
NOPAT Margin	24.98%	19.43%	27.96%	38.01%	-40.57%	38.26%	40.38%	41.90%	41.75%	21.89%	48.94%
Net Nonoperating Expense Percent (NNEP)	3.00%	2.99%	2.62%	2.52%	5.29%	2.53%	2.52%	3.68%	3.23%	2.24%	1.81%
Return On Investment Capital (ROIC_SIMPLE)	2.45%	-	-	-	-3.42%	3.25%	3.15%	3.13%	3.25%	1.41%	4.78%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%	0.04%	0.01%	0.01%
SG&A Expenses to Revenue	9.19%	11.49%	13.39%	11.31%	14.05%	11.44%	11.06%	12.49%	12.59%	14.32%	9.09%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	73.16%	78.65%	68.80%	59.18%	157.95%	60.13%	56.34%	64.22%	60.44%	75.90%	46.94%
Earnings before Interest and Taxes (EBIT)	27	18	24	34	-39	34	38	29	33	16	60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	63	56	58	67	-6.26	65	69	61	65	46	90
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.25	2.82	2.64	3.52	4.06	3.01	3.08	2.94	2.68	3.30	3.00
Price to Tangible Book Value (P/TBV)	2.25	2.82	2.64	3.52	4.06	3.01	3.08	2.94	2.68	3.30	3.00
Price to Revenue (P/Rev)	4.26	5.85	5.87	5.48	6.09	5.75	5.34	5.01	4.27	5.47	5.06
Price to Earnings (P/E)	20.82	45.12	54.47	48.27	0.00	302.64	0.00	0.00	25.43	40.84	21.98
Dividend Yield	12.84%	10.82%	11.12%	11.50%	10.78%	12.29%	12.18%	12.31%	13.61%	10.85%	10.39%
Earnings Yield	4.80%	2.22%	1.84%	2.07%	0.00%	0.33%	0.00%	0.00%	3.93%	2.45%	4.55%
Enterprise Value to Invested Capital (EV/IC)	1.55	1.95	2.00	2.16	2.34	1.95	1.95	1.89	1.78	2.07	1.92
Enterprise Value to Revenue (EV/Rev)	6.77	7.77	7.32	7.32	8.05	7.93	7.45	7.07	6.20	7.42	7.09
Enterprise Value to EBITDA (EV/EBITDA)	9.55	11.26	10.52	10.25	14.27	13.45	12.28	11.93	7.96	9.72	9.23
Enterprise Value to EBIT (EV/EBIT)	18.15	25.55	25.49	24.47	67.34	46.57	35.77	36.57	15.58	20.32	17.66
Enterprise Value to NOPAT (EV/NOPAT)	18.94	26.88	27.22	26.60	62.65	45.54	35.59	31.06	15.38	19.90	17.68
Enterprise Value to Operating Cash Flow (EV/OCF)	11.42	12.25	10.45	9.87	9.93	10.46	9.75	9.15	8.40	9.67	10.17
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	9.44	9.61	136.86	87.74	62.91	57.49	9.10	22.38
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.29	0.29	0.28	0.27	0.28	0.30	0.58	0.58	0.58	0.61	0.58
Long-Term Debt to Equity	0.29	0.29	0.28	0.27	0.28	0.30	0.58	0.58	0.58	0.61	0.58
Financial Leverage	0.25	0.25	0.29	0.24	0.24	0.25	0.37	0.36	0.36	0.38	0.53
Leverage Ratio	1.31	1.30	1.35	1.30	1.30	1.31	1.44	1.43	1.44	1.45	1.60
Compound Leverage Factor	0.94	0.76	0.96	1.05	1.50	1.05	1.10	0.94	1.03	0.70	1.38
Debt to Total Capital	22.35%	22.48%	21.82%	21.20%	21.94%	23.23%	36.80%	36.61%	36.58%	37.92%	36.82%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	22.35%	22.48%	21.82%	21.20%	21.94%	23.23%	36.80%	36.61%	36.58%	37.92%	36.82%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	35.61%	27.30%	19.22%	34.34%	36.09%	31.26%	19.30%	19.61%	19.80%	17.63%	19.28%
Common Equity to Total Capital	42.04%	50.22%	58.97%	44.45%	41.96%	45.51%	43.90%	43.78%	43.63%	44.45%	43.90%
Debt to EBITDA	1.42	1.35	1.18	1.04	1.39	1.65	2.39	2.40	1.71	1.85	1.84
Net Debt to EBITDA	1.27	1.16	1.05	0.90	1.19	1.46	2.22	2.19	1.55	1.70	1.67
Long-Term Debt to EBITDA	1.42	1.35	1.18	1.04	1.39	1.65	2.39	2.40	1.71	1.85	1.84
Debt to NOPAT	2.82	3.21	3.06	2.70	6.10	5.60	6.94	6.25	3.31	3.79	3.53
Net Debt to NOPAT	2.52	2.77	2.71	2.33	5.24	4.95	6.43	5.70	2.99	3.47	3.20
Long-Term Debt to NOPAT	2.82	3.21	3.06	2.70	6.10	5.60	6.94	6.25	3.31	3.79	3.53
Altman Z-Score	2.80	3.98	4.42	4.59	4.65	3.73	2.54	2.44	2.31	2.60	2.57
Noncontrolling Interest Sharing Ratio	44.55%	31.12%	18.03%	38.70%	46.03%	37.99%	27.29%	37.84%	39.14%	35.54%	30.53%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	7.95	8.48	5.68	5.20	6.69	6.01	5.45	5.39	8.64	5.12	7.30
Quick Ratio	7.07	7.98	5.53	4.81	6.50	6.01	5.22	5.11	8.01	5.12	7.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-243	-210	-271	203	192	-3.95	-5.02	-2.92	-64	154	26
Operating Cash Flow to CapEx	10,518.76%	75,568.71%	158,310.65%	139,575.19%	165,980.86%	24.29%	21,207.67%	54,106.03%	77,331.08%	380,230.77%	154.03%
Free Cash Flow to Firm to Interest Expense	-32.49	-28.72	-38.97	31.24	32.30	-0.60	-0.56	-0.30	-7.04	18.87	3.13
Operating Cash Flow to Interest Expense	7.94	9.46	9.05	9.61	9.50	8.18	8.08	6.42	6.28	6.06	8.13
Operating Cash Flow Less CapEx to Interest Expense	7.87	9.44	9.05	9.61	9.49	-25.49	8.05	6.40	6.27	6.06	2.85
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.24	0.26	0.30	0.26	0.25	0.24	0.25	0.26	0.28	0.25	0.26
Accounts Receivable Turnover	5.29	6.41	6.27	5.95	5.65	5.13	6.09	6.74	7.70	5.66	6.46
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.30	0.52	0.33	0.29	0.28	0.26	0.28	0.28	0.31	0.27	0.28
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01
Days Sales Outstanding (DSO)	69.06	56.95	58.22	61.31	64.56	71.12	59.97	54.16	47.40	64.43	56.46
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30,361.08	28,738.20	27,162.08
Cash Conversion Cycle (CCC)	69.06	56.95	58.22	61.31	64.56	71.12	59.97	54.16	-30,313.68	-28,673.77	-27,105.62
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,286	1,231	1,189	1,156	1,067	1,267	1,229	1,193	1,165	1,127	1,257
Invested Capital Turnover	0.26	0.28	0.31	0.28	0.26	0.25	0.27	0.27	0.30	0.26	0.27
Increase / (Decrease) in Invested Capital	267	226	292	-171	-219	36	40	37	99	-140	29
Enterprise Value (EV)	1,991	2,405	2,380	2,503	2,491	2,468	2,393	2,250	2,070	2,338	2,418
Market Capitalization	1,254	1,809	1,907	1,873	1,883	1,791	1,716	1,595	1,427	1,723	1,727
Book Value per Share	$5.88	$8.89	$7.57	$5.57	$4.86	$5.56	$5.16	$5.02	$4.93	$4.84	$5.34
Tangible Book Value per Share	$5.88	$8.89	$7.57	$5.57	$4.86	$5.56	$5.16	$5.02	$4.93	$4.84	$5.34
Total Capital	1,325	1,277	1,226	1,197	1,106	1,307	1,268	1,237	1,219	1,174	1,312
Total Debt	296	287	267	254	243	304	467	453	446	445	483
Total Long-Term Debt	296	287	267	254	243	304	467	453	446	445	483
Net Debt	265	247	237	219	209	268	432	413	402	408	438
Capital Expenditures (CapEx)	0.56	0.09	0.04	0.04	0.03	223	0.34	0.12	0.07	0.01	44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	59	51	42	40	38	47	38	32	34	31	42
Debt-free Net Working Capital (DFNWC)	90	91	73	74	73	83	72	72	78	68	87
Net Working Capital (NWC)	90	91	73	74	73	83	72	72	78	68	87
Net Nonoperating Expense (NNE)	6.95	6.64	6.23	6.05	12	6.37	8.27	11	9.62	7.40	7.75
Net Nonoperating Obligations (NNO)	258	241	230	213	203	263	427	409	392	399	429
Total Depreciation and Amortization (D&A)	37	39	34	33	32	32	31	32	33	30	31
Debt-free, Cash-free Net Working Capital to Revenue	20.12%	16.63%	13.02%	11.62%	12.40%	15.17%	11.69%	10.05%	10.26%	9.83%	12.33%
Debt-free Net Working Capital to Revenue	30.66%	29.45%	22.53%	21.78%	23.45%	26.62%	22.43%	22.62%	23.44%	21.62%	25.50%
Net Working Capital to Revenue	30.66%	29.45%	22.53%	21.78%	23.45%	26.62%	22.43%	22.62%	23.44%	21.62%	25.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.12	$0.04	$0.11	$0.22	($0.49)	$0.20	$0.02	$0.19	$0.21	$0.04	$0.40
Adjusted Weighted Average Basic Shares Outstanding	66.60M	72.11M	74.83M	78.98M	76.24M	89.68M	91.17M	91.17M	90.80M	93.13M	96.31M
Adjusted Diluted Earnings per Share	$0.13	$0.04	$0.11	$0.22	($0.49)	$0.20	$0.02	$0.19	$0.21	$0.04	$0.40
Adjusted Weighted Average Diluted Shares Outstanding	93.06M	116.54M	116.59M	116.41M	116.05M	127.95M	122.92M	118.21M	121.31M	119.09M	118.88M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	66.60M	72.11M	74.83M	78.98M	76.24M	89.68M	91.17M	91.17M	90.80M	93.13M	96.31M
Normalized Net Operating Profit after Tax (NOPAT)	42	21	21	32	12	32	35	20	23	14	55
Normalized NOPAT Margin	42.07%	26.03%	27.96%	38.01%	18.35%	38.26%	40.38%	25.05%	27.69%	21.89%	48.94%
Pre Tax Income Margin	19.31%	12.48%	22.13%	33.08%	-66.88%	32.00%	33.32%	23.65%	28.50%	11.66%	45.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.57	2.41	3.44	5.27	-6.49	5.07	4.22	2.95	3.58	1.94	7.10
NOPAT to Interest Expense	3.32	2.19	3.08	4.91	-4.54	4.87	3.91	3.45	3.78	1.76	6.55
EBIT Less CapEx to Interest Expense	3.49	2.39	3.43	5.26	-6.50	-28.60	4.19	2.94	3.57	1.94	1.82
NOPAT Less CapEx to Interest Expense	3.24	2.18	3.08	4.90	-4.55	-28.80	3.87	3.44	3.77	1.76	1.27
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	146.18%	200.46%	239.85%	228.77%	1,403.76%	582.33%	429.78%	469.21%	164.61%	199.53%	153.16%
Augmented Payout Ratio	152.02%	208.20%	247.93%	235.98%	1,448.16%	600.74%	442.79%	483.49%	169.71%	215.01%	172.74%

Financials Breakdown Chart

Key Financial Trends

Kimbell Royalty Partners’ second-quarter 2026 results showed a sharp rebound in revenue and profitability. Total revenue rose to $112.5 million from $65.5 million in the first quarter and $86.5 million in the restated second quarter of 2025. Operating income increased to $59.7 million, compared with $15.8 million in Q1 2026 and $37.8 million a year earlier. Net income attributable to common shareholders reached $38.4 million, or $0.40 per basic share, up substantially from $4.0 million in Q1 2026 and $2.0 million in Q2 2025.

The latest quarter also produced $68.3 million of operating cash flow. After $44.3 million of property and equipment purchases, estimated operating cash flow less capital expenditures was approximately $23.0 million. That was enough to cover the $42.9 million dividend only partially, meaning KRP relied on its cash balance and financing activities to fund the full distribution. Cash nevertheless increased to $44.9 million from $37.2 million at the end of Q1.

Over the longer period covered, KRP has expanded its asset base but also taken on significantly more debt. Gross property, plant and equipment increased from $1.20 billion in Q3 2022 to $2.42 billion in Q2 2026, while long-term debt and capital lease obligations rose from approximately $206 million to $483 million. Revenue and earnings have remained volatile, reflecting commodity prices, production levels and other revenue adjustments. Investors should also account for the restated 2024 and 2025 figures and the sizable noncontrolling and redeemable noncontrolling interests when evaluating results available to common shareholders.

Strong Q2 operating rebound: Revenue increased approximately 72% sequentially and 30% year over year, while operating income nearly quadrupled from Q1 2026.
Improved common-shareholder earnings: Net income attributable to common shareholders rose to $38.4 million, producing $0.40 of basic EPS compared with $0.04 in Q1.
Healthy operating cash generation: Operating cash flow of $68.3 million remained strong despite the company’s royalty-focused, largely fixed-cost business model.
Solid interest coverage in the latest quarter: Q2 operating income covered interest expense by roughly 7.1 times, a considerable improvement from approximately 1.9 times in Q1 2026.
Growing asset base: Gross property, plant and equipment has approximately doubled since Q3 2022, supporting KRP’s long-term production and royalty potential.
Revenue remains uneven: Quarterly total revenue has generally fluctuated between roughly $60 million and $85 million since 2022, with Q2 2026’s $112.5 million standing well above the recent range.
Noncontrolling interests reduce common-holder participation: Q2 net income included $6.3 million attributable to noncontrolling interests, while redeemable and other noncontrolling interests represented a meaningful portion of the capital structure.
Leverage has increased materially: Debt and capital lease obligations reached approximately $482.9 million in Q2 2026, up from about $206 million in Q3 2022. Net debt was roughly $438 million after deducting cash.
Dividend coverage was incomplete after capital spending: Operating cash flow covered the $42.9 million dividend, but cash flow after the quarter’s $44.3 million of capital expenditures was approximately $23.0 million.
Share dilution remains a concern: Basic weighted-average shares increased to 96.3 million from 91.2 million in Q2 2025, while diluted shares remained near 119 million, limiting the benefit of higher consolidated earnings for each common share.

09/08/26 07:19 AM ETAI Generated. May Contain Errors.

Kimbell Royalty Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Kimbell Royalty's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Kimbell Royalty's net income appears to be on a downward trend, with a most recent value of $99.65 million in 2025, falling from -$31.31 million in 2015. The previous period was $11.07 million in 2024. See where experts think Kimbell Royalty is headed by visiting Kimbell Royalty's forecast page.

Kimbell Royalty's total operating income in 2025 was $132.83 million, based on the following breakdown:

Total Gross Profit: $333.77 million
Total Operating Expenses: $201.00 million

Over the last 9 years, Kimbell Royalty's total revenue changed from $4.68 million in 2015 to $333.83 million in 2025, a change of 7,025.6%.

Kimbell Royalty's total liabilities were at $456.18 million at the end of 2025, a 77.9% increase from 2024, and a 3,731.2% increase since 2016.

In the past 9 years, Kimbell Royalty's cash and equivalents has ranged from $505.88 thousand in 2016 to $43.98 million in 2025, and is currently $43.98 million as of their latest financial filing in 2025.

Over the last 9 years, Kimbell Royalty's book value per share changed from 0.00 in 2015 to 4.93 in 2025, a change of 493.0%.

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Financial statements for NYSE:KRP last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Kimbell Royalty (KRP) Financials

Annual Income Statements for Kimbell Royalty

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How has Kimbell Royalty's revenue changed over the last 9 years?

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