KRP

MKT CAP:$2B

Kimbell Royalty Partners, LP

Market Cap

$2B

Energy·Oil & Gas Exploration & Production·🇺🇸 United States·NYSE

Energy·Oil & Gas Exploration & Production·🇺🇸·NYSE

Stock Price

$14.62+$2.59 (+21.53%)

Apr 24, 2026

Company Details

Kimbell Royalty Partners, LP, together with its subsidiaries, acquires and owns mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2021, it owned mineral and royalty interests in approxi...

CEO

Robert Dean Ravnaas

IPO Date

Feb 3, 2017

Website

www.kimbellrp.com

Key Metrics TTM

Revenue

$318M

+679.4% YoY

Net Income

$39M

EPS (Diluted)

$0.50

Free Cash Flow

$240M

Revenue / Share

$2.59

Gross Margin

67.3%

Operating Margin

27.5%

Net Margin

12.4%

FCF Margin

75.5%

P/S

5.0x

P/E

40.4x

Earnings Reports

Q3 2025

May 7, 2026

PENDING

Q2 2025

Aug 7, 2025

$87M+11.5%EPS $0.22

Q2 2024

Aug 1, 2024

$78MEPS $0.07

Q1 2024

May 2, 2024

$88MEPS $0.04

Q1 2022

May 10, 2022

$66MEPS $0.16

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$755.7K	$245.0K	-$4M
Q2 16	$847.7K	$450.1K	-$1M
Q3 16	$969.1K	$429.8K	-$661.4K
Q4 16	$1M	$597.1K	-$77.4K
Q2 17	$8M	$3M	$435.0K
Q3 17	$8M	$3M	$344.3K
Q4 17	$10M	$5M	$1M
Q1 18	$11M	$6M	-$52M
Q2 18	$11M	$7M	$2M
Q1 22	$66M	$51M	$8M
Q1 24	$88M	$43M	$18M
Q2 24	$78M	$39M	$24M
Q2 25	$87M	$81M	$38M

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q3 16	—	—
Q4 16	442.1x	—
Q2 17	150.4x	—
Q3 17	88.1x	—
Q4 17	58.7x	1289.0x
Q1 18	42.8x	—
Q2 18	39.1x	—
Q1 22	16.2x	—
Q1 24	9.1x	—
Q2 24	6.6x	110.3x
Q2 25	5.0x	40.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	$160.4K	$140.0K
Q2 16	$389.9K	$330.9K
Q3 16	$406.5K	$392.0K
Q4 16	$129.8K	$126.2K
Q2 17	$6M	-$9M
Q3 17	$5M	$1M
Q4 17	$5M	-$4M
Q1 18	$7M	$7M
Q2 18	$7M	-$14M
Q1 22	$36M	$36M
Q1 24	$69M	$69M
Q2 24	$63M	$63M
Q2 25	$72M	$72M

Capital Expenditures

Quarter	CapEx
Q1 16	$20.4K
Q2 16	$59.0K
Q3 16	$14.5K
Q4 16	$3.6K
Q2 17	$15M
Q3 17	$4M
Q4 17	$9M
Q1 18	$21.9K
Q2 18	$21M
Q1 22	$43.6K
Q1 24	$91.4K
Q2 24	$39.7K
Q2 25	$208.4K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 17	+925.9%	+55.9%
Q3 17	+885.1%	+313.0%
Q4 17	+932.7%	+428.9%
Q1 18	+980.7%	+5626.1%
Q2 18	+45.1%	+28.3%
Q1 22	+687.1%	+619.4%
Q1 24	+778.7%	+716.1%
Q2 24	+594.5%	-15.6%
Q2 25	+669.6%	+419.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$151.3K	20.0%
Q2 16	$151.3K	17.8%
Q3 16	$151.3K	15.6%
Q4 16	$151.3K	14.6%
Q2 17	$135.7K	1.8%
Q3 17	$434.2K	5.2%
Q4 17	$228.5K	2.3%
Q1 18	$668.9K	6.0%
Q2 18	$723.0K	6.4%
Q1 22	$0	0.0%
Q1 24	$4M	4.2%
Q2 24	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 16	$365.8K	$97.6K
Q2 16	$422.7K	$152.3K
Q3 16	$463.5K	$320.7K
Q4 16	$494.2K	—
Q2 17	$2M	$386.0K
Q3 17	$2M	$424.7K
Q4 17	$2M	$580.0K
Q1 18	$3M	$569.8K
Q2 18	$4M	$609.0K
Q1 22	$7M	$4M
Q1 24	$9M	$5M
Q2 24	$10M	$4M
Q2 25	$10M	$3M

Revenue Segments

Quarter	Oil And Gas	Lease bonus and other income	Oil, natural gas and NGL revenues
Q1 18	$11M	—	—
Q2 18	$11M	—	—
Q1 22	—	$654.1K	$65M
Q1 24	—	$438.8K	$87M
Q2 24	—	$660.0K	$77M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$11M	$0	$11M
Q2 22	$14M	$0	$14M
Q3 22	$17M	$0	$17M
Q4 22	$25M	$0	$25M
Q1 23	$19M	$0	$19M
Q2 23	$21M	$0	$21M
Q3 23	$40M	$0	$40M
Q4 23	$31M	$0	$31M
Q1 24	$40M	$0	$40M
Q2 24	$31M	$0	$31M
Q3 24	$35M	$0	$35M
Q4 24	$34M	$0	$34M
Q1 25	$36M	$0	$36M
Q2 25	$35M	$0	$35M
Q3 25	$40M	$0	$40M
Q4 25	$44M	$0	$44M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	1M	—	—
Q2 16	1M	0.0%	—
Q3 16	1M	0.0%	—
Q4 16	1M	0.0%	—
Q2 17	16M	+1383.9%	+1383.9%
Q3 17	17M	+0.5%	+1391.3%
Q4 17	17M	+0.0%	+1391.8%
Q1 18	16M	-1.0%	+1376.9%
Q2 18	17M	+2.8%	+2.4%
Q1 22	46M	+173.3%	+178.4%
Q1 24	72M	+57.0%	+336.8%
Q2 24	117M	+61.7%	+613.3%
Q2 25	123M	+5.4%	+631.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	—	—
Q2 16	—	—
Q3 16	—	—
Q4 16	$103.4K	10
Q2 17	$775.2K	10
Q3 17	$835.1K	10
Q4 17	$714.9K	14
Q1 18	$798.3K	14
Q2 18	$803.3K	14
Q1 22	$2M	28
Q1 24	$3M	29
Q2 24	$3M	29
Q2 25	$3M	28

Revenue / Employee