SequelSEC

TXO Partners, L.P. TXO

Crude Petroleum & Natural Gas · CIK 0001559432 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$401.01M
Fiscal year ended 2025-12-31
Operating income
-$30.58M
Fiscal year ended 2025-12-31
Free cash flow
Unavailable
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$571.80MMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$10.35Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / revenue1.4×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Crude Petroleum & Natural Gas filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Revenue YoY growth41.8%83th
SBC / revenue4.1%79th
Current ratio0.62x29th
Operating margin-7.6%32th
Net margin-5.4%35th

TXO Partners, L.P. (TXO) reported revenue of $401.01M and net income of -$21.62M for the fiscal year ended 2025-12-31. This page shows 5 annual periods of income statement, balance sheet and cash flow figures normalized from TXO Partners, L.P.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Crude Petroleum & Natural Gas.

Income

TXO Partners, L.P. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue$401.01M$282.81M$380.72M$246.40M$228.34M
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailable
Gross profitUnavailableUnavailableUnavailableUnavailableUnavailable
Operating income-$30.58M-$6.86M-$123.78M-$25.68M$44.19M
Net income-$21.62M$23.50M-$103.99M-$7.67M$52.48M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 49.77Mshares 36.13Mshares 30.26Mshares 25.00Mshares 25.00M
Pretax incomeUnavailableUnavailableUnavailableUnavailableUnavailable
Income tax expenseUnavailableUnavailableUnavailableUnavailableUnavailable
Diluted EPS$-0.43$0.65$-3.44$-0.31$2.10
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrative$21.46M$14.53M$7.89M$1.65M$12.18M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

TXO Partners, L.P. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Cash & equivalents$9.37M$7.30M$4.50M$9.20MUnavailable
Total assets$1.35B$1.03B$695.61M$924.63MUnavailable
Current assets$95.33M$64.45M$55.19M$74.03MUnavailable
Total liabilitiesUnavailableUnavailableUnavailableUnavailableUnavailable
Current liabilities$153.92M$66.34M$39.12M$147.46MUnavailable
Total equity incl. NCIUnavailableUnavailableUnavailableUnavailableUnavailable
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailable
InventoryUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivable$52.39M$39.69M$32.23M$52.30MUnavailable
GoodwillUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt$291.10M$157.10M$28.10M$120.10MUnavailable
Accounts payable$27.98M$18.22M$8.60M$14.69MUnavailable

Cash flow

TXO Partners, L.P. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Operating cash flow$118.19M$109.30M$77.15M$136.38M$73.73M
Capital expendituresUnavailableUnavailableUnavailableUnavailableUnavailable
Investing cash flow-$335.32M-$288.28M-$46.22M-$86.67M-$227.80M
Financing cash flow$219.20M$181.78M-$35.63M-$48.05M$139.69M
Net change in cash$2.07M$2.80M-$4.70M$1.66M-$14.39M
Stock-based compensation$16.30M$6.16M$3.47M$0$2.40M
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortization$96.57M$52.41M$44.29M$41.36M$39.89M

Derived

TXO Partners, L.P. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Free cash flowUnavailableUnavailableUnavailableUnavailableUnavailable
Gross marginUnavailableUnavailableUnavailableUnavailableUnavailable
Operating margin-7.6%-2.4%-32.5%-10.4%19.4%
FCF marginUnavailableUnavailableUnavailableUnavailableUnavailable
SBC / revenue4.1%2.2%0.9%0.0%1.1%
Current ratio0.62x0.97x1.41x0.50xUnavailable
Revenue YoY growth41.8%-25.7%54.5%7.9%Unavailable
Net margin-5.4%8.3%-27.3%-3.1%23.0%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenueUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open TXO in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-04View SEC filing
10-Q · Filed 2026-05-04View SEC filing
10-K/A · Filed 2026-03-26View SEC filing
10-K · Filed 2026-02-26View SEC filing
10-Q · Filed 2025-11-04View SEC filing
10-Q · Filed 2025-08-05View SEC filing

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.