CKX Lands, Inc. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
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CKX Lands, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
CKX Lands has little or no product revenue yet; it used $0m of cash in the twelve months to June 2026. It passes 2 of our 2 financial-health checks.
Our model value for CKX Lands is under review, so past values are not shown until it is resolved.
Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
CKX Lands, Inc.'s trailing-twelve-month revenue fell 17.1% year on year, with a free-cash-flow margin of -14.6%.
Our discounted-cash-flow model values the business at ~$2.2 per share in the base case (~$2.0–$2.5 across growth scenarios) — model values under stated assumptions, not a price target.
Current signal Free cash flow diverging from earnings: TTM free cash flow fell 64.5% while net income grew 702.1%: a 767pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for CKX from the sources we follow. See filings →
Our value per share comes from a discounted-cash-flow model of CKX Lands, Inc.'s free cash flow after stock-based pay ( $99,730, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.
| At fiscal year end | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Now |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share price | $9.74 | $10.83 | $10.06 | $10.31 | $9.32 | $9.51 | $11.20 | $9.95 | $12.96 | $12.60 | $9.15 | $10.52 |
| Market value | $19m | $21m | $20m | $20m | $18m | $18m | $22m | $19m | $26m | $26m | $19m | $22m |
| + Net debt (− = net cash) | −$3m | −$1m | −$2m | −$2m | −$3m | −$6m | −$7m | $0 | $0 | $0 | $0 | $0 |
| Enterprise value | $16m | $20m | $18m | $18m | $15m | $12m | $14m | $19m | $26m | $26m | $19m | $22m |
| Multiples | ||||||||||||
| Price / sales | 17.8x | 24.4x | 17.1x | 16.8x | 22.3x | 27.5x | 29.2x | 17.6x | 17.5x | 17.0x | 22.3x | 31.2x |
| Price / earnings | 40.9x | 123.3x | 37.4x | 18.0x | 72.4x | 54.4x | 26.6x | — | 182.3x | 103.5x | 6.2x | 7.4x |
| Price / free cash flow | 107.5x | 78.9x | 78.5x | 107.6x | 93.0x | 131.8x | — | 47.1x | 29.7x | 126.4x | 40.7x | — |
| EV / EBITDA | 24.7x | 106.3x | 32.1x | 13.2x | 76.4x | 31.5x | 13.5x | — | n/m | n/m | 5.1x | 6.5x |
Weak moat
How hard CKX Lands's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median 2.3% of total assets over 10 years.
Operating margin has been a median 30.8%; its worst year was -154.5%.
Free cash flow was positive in 6 of 10 years, at a median 15.4% of revenue.
The diluted share count rose 5.7% over five years; stock-based pay has been a median 35.7% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
No analyst estimates are published for CKX Lands, Inc.: too few analysts cover it.
Last 12 months +0.1%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $835963 | $693397 | −17.1% |
| Net margin | 43.4% | 419.8% | +867.0% |
| P/E multiple | 59.7x | 7.4x | −87.6% |
| Share count | 2m | 2m | +0.3% |
Biggest factor: net margin.
Last 3 years −16.7%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $1m | $693397 | −39.7% |
| P/S multiple | 21.9x | 31.2x | +42.5% |
| Share count | 2m | 2m | −3.1% |
Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| CKX | +18% | −11% | +30% | −3% | −27% | +15% |
| Industry peers (median) | +88% | +55% | −8% | +2% | −15% | +18% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| CKX | 50% | 33% | 75% | 50% | 25% | 46% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| CKX | −21% | −28% | −13% | −18% | −28% | −16% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 43% from March 10, 2017 to March 23, 2020. Getting back needed a 76% gain, reached on March 23, 2021, 365 days after the low.
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $1.1M |
| FY23 Q4 | $1.5M |
| FY24 Q1 | $1.5M |
| FY24 Q2 | $2.1M |
| FY24 Q3 | $2M |
| FY24 Q4 | $1.5M |
| FY25 Q1 | $1.7M |
| FY25 Q2 | $836K |
| FY25 Q3 | $897.3K |
| FY25 Q4 | $838.5K |
| FY26 Q1 | $661K |
| FY26 Q2 | $693.4K |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q3 | 5.0% |
| FY23 Q4 | 34.4% |
| FY24 Q1 | 34.2% |
| FY24 Q2 | 84.3% |
| FY24 Q3 | 88.3% |
| FY24 Q4 | 2.4% |
| FY25 Q1 | 18.2% |
| FY25 Q2 | -60.5% |
| FY25 Q3 | -55.8% |
| FY25 Q4 | -44.9% |
| FY26 Q1 | -61.7% |
| FY26 Q2 | -17.1% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q3 | -155.3% |
| FY23 Q4 | 8.2% |
| FY24 Q1 | 1.9% |
| FY24 Q2 | 27.0% |
| FY24 Q3 | 27.1% |
| FY24 Q4 | 7.7% |
| FY25 Q1 | 38.5% |
| FY25 Q2 | 21.4% |
| FY25 Q3 | 34.5% |
| FY25 Q4 | 434.2% |
| FY26 Q1 | 522.6% |
| FY26 Q2 | 478.4% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q3 | 44.9% |
| FY23 Q4 | 58.7% |
| FY24 Q1 | 42.7% |
| FY24 Q2 | 52.9% |
| FY24 Q3 | 35.8% |
| FY24 Q4 | 13.2% |
| FY25 Q1 | 37.9% |
| FY25 Q2 | -7.3% |
| FY25 Q3 | 47.7% |
| FY25 Q4 | 54.2% |
| FY26 Q1 | 43.2% |
| FY26 Q2 | -14.6% |
| Fiscal year | 2010 Dec 2010 | 2011 Dec 2011 | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||||||||
| Revenue | 1,671 | 1,985 | 3,263 | 2,114 | 2,619 | 1,062 | 863 | 1,145 | 1,195 | 811 | 672 | 745 | 1,105 | 1,486 | 1,521 | 839 | 693 |
| EBITDA | 1,123 | 1,377 | 2,527 | 1,470 | 1,976 | 654 | 188 | 558 | 1,372 | 194 | 381 | 1,065 | −1,838 | 127 | 121 | 3,644 | 3,320 |
| Operating income | 1,059 | 1,311 | 2,511 | 1,369 | 1,909 | 651 | 187 | 541 | 1,368 | 192 | 379 | 1,063 | −1,843 | 122 | 117 | 3,641 | 3,318 |
| Net income | 917 | 952 | 2,237 | 970 | 1,285 | 463 | 171 | 523 | 1,115 | 250 | 339 | 819 | −1,318 | 143 | 250 | 3,010 | 2,911 |
| Diluted EPS | — | — | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | −$0.67 | $0.07 | $0.12 | $1.47 | $1.42 |
| Growth (year on year) | |||||||||||||||||
| Revenue | — | +18.8% | +64.4% | −35.2% | +23.9% | −59.4% | −18.7% | +32.6% | +4.4% | −32.1% | −17.2% | +10.8% | +48.5% | +34.4% | +2.4% | −44.9% | −17.1% |
| EBITDA | — | +22.6% | +83.5% | −41.8% | +34.4% | −66.9% | −71.3% | +197.1% | +145.9% | −85.9% | +96.6% | +179.4% | −272.5% | — | −4.3% | +>999% | +>999% |
| Operating income | — | +23.8% | +91.6% | −45.5% | +39.5% | −65.9% | −71.2% | +188.8% | +152.9% | −86.0% | +97.8% | +180.5% | −273.3% | — | −4.0% | +>999% | +>999% |
| Net income | — | +3.8% | +135.0% | −56.6% | +32.5% | −64.0% | −63.1% | +206.4% | +113.3% | −77.6% | +35.8% | +141.4% | −260.8% | — | +75.0% | +>999% | +702.1% |
| Diluted EPS | — | — | — | — | — | — | — | — | — | — | — | — | −259.5% | — | +71.4% | +>999% | +704.8% |
| Margins | |||||||||||||||||
| EBITDA margin | 67.2% | 69.4% | 77.4% | 69.6% | 75.5% | 61.5% | 21.8% | 48.7% | 114.9% | 23.9% | 56.8% | 143.1% | −166.2% | 8.5% | 8.0% | 434.6% | 478.8% |
| Operating margin | 63.4% | 66.0% | 76.9% | 64.7% | 72.9% | 61.3% | 21.7% | 47.3% | 114.5% | 23.6% | 56.4% | 142.8% | −166.7% | 8.2% | 7.7% | 434.2% | 478.4% |
| Net margin | 54.9% | 48.0% | 68.5% | 45.9% | 49.1% | 43.6% | 19.8% | 45.7% | 93.3% | 30.8% | 50.5% | 110.0% | −119.2% | 9.6% | 16.4% | 359.0% | 419.8% |
| Free-cash-flow margin | 45.7% | 50.3% | 59.7% | 51.2% | 38.7% | 16.6% | 30.9% | 21.8% | 15.6% | 24.0% | 20.9% | −35.4% | 37.4% | 59.0% | 13.5% | 54.8% | −14.2% |
| Cash flow | |||||||||||||||||
| Cash from operations | 775 | 1,009 | 1,986 | 1,179 | 1,440 | 442 | 281 | 404 | 242 | 195 | 140 | −264 | 414 | 877 | 205 | 460 | −99 |
| Capital spending | 10 | 10 | 38 | 97 | 426 | 266 | 14 | 155 | 55 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 765 | 999 | 1,948 | 1,081 | 1,014 | 176 | 267 | 249 | 186 | 195 | 140 | −264 | 414 | 877 | 205 | 460 | −99 |
| Stock-based pay | — | — | — | — | — | — | — | — | — | — | — | 0 | 2,309 | 842 | 224 | 0 | — |
| Free cash flow after stock pay | — | — | — | — | — | — | — | — | — | — | — | −264 | −1,895 | 35 | −19 | 460 | — |
| Balance sheet | |||||||||||||||||
| Cash | 5,182 | 4,125 | 5,832 | 4,529 | 5,226 | 2,767 | 1,081 | 1,652 | 1,861 | 3,280 | 6,463 | 7,410 | — | — | — | — | — |
| Total debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | −5,182 | −4,125 | −5,832 | −4,529 | −5,226 | −2,767 | −1,081 | −1,652 | −1,861 | −3,280 | −6,463 | −7,410 | — | — | — | — | — |
| Diluted shares | — | — | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m |
| Returned to shareholders | |||||||||||||||||
| Dividends | 544 | 544 | 544 | 544 | 544 | 194 | — | 194 | 233 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buybacks | — | — | — | — | — | — | — | — | — | — | — | 0 | 177 | 87 | 209 | 148 | — |
| Total returned | 544 | 544 | 544 | 544 | 544 | 194 | — | 194 | 233 | 0 | 0 | 0 | 177 | 87 | 209 | 148 | 0 |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 171 | 181 | 348 | 136 | 233 | 122 | 171 | 168 |
| EBITDA | −16 | −74 | 115 | 160 | 114 | 3,257 | −74 | 23 |
| Operating income | −17 | −76 | 112 | 160 | 113 | 3,256 | −75 | 23 |
| Net income | 54 | 32 | 116 | 161 | 166 | 2,567 | 55 | 122 |
| Diluted EPS | $0.03 | $0.01 | $0.06 | $0.08 | $0.08 | $1.25 | $0.03 | $0.06 |
| Growth (year on year) | ||||||||
| Revenue | −33.9% | −73.8% | +145.5% | −86.8% | +35.8% | −32.6% | −51.0% | +23.8% |
| EBITDA | — | −120.7% | — | −75.2% | — | — | −164.4% | −85.4% |
| Operating income | — | −121.1% | — | −75.3% | — | — | −166.7% | −85.6% |
| Net income | +51.4% | −86.7% | — | −71.5% | +207.3% | +>999% | −52.2% | −24.1% |
| Diluted EPS | +50.0% | −91.7% | — | −70.4% | +166.7% | +>999% | −50.0% | −25.0% |
| Margins | ||||||||
| EBITDA margin | −9.3% | −41.2% | 33.1% | 118.1% | 49.0% | >999% | −43.5% | 14.0% |
| Operating margin | −9.9% | −41.9% | 32.2% | 117.5% | 48.7% | >999% | −43.9% | 13.7% |
| Net margin | 31.6% | 17.8% | 33.2% | 118.5% | 71.5% | >999% | 32.4% | 72.6% |
| Free-cash-flow margin | −143.9% | 53.9% | 34.1% | −18.1% | 104.1% | 101.3% | −30.7% | −244.7% |
| Cash flow | ||||||||
| Cash from operations | −247 | 97 | 119 | −25 | 242 | 123 | −52 | −412 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −247 | 97 | 119 | −25 | 242 | 123 | −52 | −412 |
| Stock-based pay | 13 | 0 | 0 | 0 | 0 | 0 | — | — |
| Free cash flow after stock pay | −259 | 97 | 119 | −25 | 242 | 123 | — | — |
| Last 12 months unless stated | CKX | INDO | GBR | MXC | BSIN | EP | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $693397 | $2m | $157000 | $7m | $7m | $31m | $1.3bn |
| Revenue growth, last 12 months | −17.1% | −24.6% | 4.0% | −6.1% | −48.7% | −20.8% | 10.1% |
| Revenue growth, 3-year average | −15.5% | — | −7.8% | −8.7% | −43.7% | −11.3% | 1.4% |
| Revenue growth, latest quarter | 23.8% | — | 2.5% | 12.9% | 5.2% | 8.6% | 31.2% |
| Operating margin | 478.4% | −227.5% | −187.3% | 22.4% | −153.7% | −224.1% | 22.4% |
| Operating margin, 3-year average | 175.6% | −172.7% | −176.9% | 23.4% | −162.7% | −99.0% | 17.2% |
| Net margin | 419.8% | −253.2% | −56.1% | 23.3% | −155.3% | −229.6% | 10.4% |
| Cash from operations / revenue | −14.2% | −270.0% | −33.1% | 57.5% | −62.1% | −19.8% | 42.1% |
| Free-cash-flow margin | −14.6% | −272.3% | −33.1% | −10.3% | −63.4% | −20.2% | 18.9% |
| Free-cash-flow margin, 3-year average | 10.3% | — | −21.0% | 5.4% | −28.9% | −36.5% | 18.6% |
| Stock pay / revenue | 0.0% | 46.0% | — | 2.4% | 28.4% | 2.6% | 1.3% |
| Change in share count | −0.3% | 27.5% | 0.0% | −0.5% | 33.7% | 24.7% | 0.3% |
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Oil and Gas | $415,469 | 49.5% | ▼ 0.6% |
| Surface | $328,249 | 39.1% | ▼ 69.6% |
| Timber | $94,825 | 11.3% | ▲ 326.7% |
| Line of business | Revenue | YoY |
|---|---|---|
| Oil and Gas | $415,469 | ▼ 0.6% |
| Timber | $94,825 | ▲ 326.7% |
These categories overlap or exclude eliminations, so shares aren't shown.
From CKX Lands, Inc.'s 10-K filed March 31, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Rodgers Brothers Inc. | $391,863 | 36K | 24.4% | ▼ 1.4% |
| Vanguard Capital Management LLC | $324,084 | 30K | 20.2% | ▲ 146.7% |
| Dimensional Fund Advisors LP | $303,123 | 28K | 18.9% | ▲ 2.6% |
| Stokes Family Office, LLC | $185,467 | 17K | 11.6% | ▼ 6.1% |
| Pfg Investments, LLC | $111,873 | 10K | 7.0% | ▼ 4.4% |
| Financial Management Professionals, Inc. | $102,425 | 9K | 6.4% | 0.0% |
| Vanguard Fiduciary Trust Co | $89,420 | 8K | 5.6% | 0.0% |
| Bfsg, LLC | $35,241 | 3K | 2.2% | 0.0% |
| Newedge Advisors, LLC | $20,604 | 2K | 1.3% | 0.0% |
| Morgan Stanley | $19,274 | 2K | 1.2% | ▼ 44.8% |
| UBS Group AG | $9,805 | 1K | 0.6% | ▼ 63.2% |
| Osaic Holdings, Inc. | $8,648 | 1K | 0.5% | ▼ 42.9% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not CKX Lands, Inc.'s complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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