Kimbell Royalty Partners, LP key statistics and ratios

In fiscal 2025, Kimbell Royalty Partners, LP had an operating margin of 39.8% and a current ratio of 8.64. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Kimbell Royalty Partners, LP: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Operating margin	−68.6%	−140.1%	−277.1%	36.4%	55.2%	37.4%	12.0%	39.8%	40.1%
Net margin	−80.8%	−146.2%	−283.0%	31.3%	52.7%	28.2%	3.6%	29.9%	29.7%
Free-cash-flow margin	46.7%	63.8%	−28.0%	26.7%	10.2%	−107.6%	81.1%	7.1%	69.7%
Return on assets	−7.5%	−21.1%	−39.0%	7.3%	15.6%	6.9%	0.9%	8.5%	7.9%
Asset turnover	0.09	0.14	0.14	0.23	0.30	0.24	0.25	0.28	0.27
Current ratio	9.90	6.28	3.23	1.60	4.01	7.95	6.69	8.64	7.30
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	5.4x	9.9x	4.2x	1.4x	3.9x	3.9x
Effective tax rate	—	—	—	0.2%	2.1%	4.3%	−7.5%	−1.3%	0.1%
SG&A as % of revenue	24.0%	20.9%	28.6%	19.9%	11.7%	12.1%	12.5%	11.9%	11.7%
Capital spending as % of revenue	0.6%	10.8%	96.8%	40.8%	57.0%	166.9%	0.0%	66.7%	0.0%
Free cash flow ÷ net income	—	—	—	85.2%	19.4%	−381.2%	>999%	23.8%	234.5%

US$ thousands unless shown otherwise. Fiscal quarters.

Kimbell Royalty Partners, LP: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Operating margin	40.8%	−58.0%	39.9%	43.7%	35.8%	39.6%	24.1%	53.1%
Net margin	30.8%	−58.8%	30.7%	30.8%	27.7%	30.1%	10.6%	42.1%
Free-cash-flow margin	74.5%	84.8%	−200.1%	83.4%	77.8%	69.4%	—	60.7%
Current ratio	5.20	6.69	6.01	5.45	5.39	8.64	5.12	7.30
SG&A as % of revenue	11.3%	14.0%	11.4%	11.1%	12.5%	12.6%	14.3%	9.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 3 checks passed · June 30, 2026

What it owns · $1.3bn

Short-term assets $101mLonger-term assets $1.2bn

What it owes, and who funded it · $497m

Short-term liabilities $14mLonger-term liabilities $484m

Short-term assets cover short-term liabilities $101m of assets due within a year against $14m of liabilities due within a year.
Short-term assets cover long-term liabilities $101m short-term assets against $484m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $137m against $35m of interest.

From Kimbell Royalty Partners, LP's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

42 /100

Weak moat

How hard Kimbell Royalty Partners's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 2 / 20

Net income has been a median 3.0% of total assets over 9 years.
Durability 6 / 20

Operating margin has been a median 20.8%; its worst year was -245.5%.
Cash conversion 17 / 20

Free cash flow was positive in 6 of 9 years, at a median 33.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: KRP vs PROP EGY vs KRP KRP vs REI KRP vs VTS

More: Oil & Gas Exploration & Production stocks compared, Energy sector, rankings of US companies

Figures from Kimbell Royalty Partners, LP's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Kimbell Royalty Partners, LP.