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Kimbell Royalty Partners, LP cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$11.6M in Q3 2026 · $119M over twelve months

Operating cash flow$58.1M
Capital spending−$69.7M
Free cash flow−$11.6M
Cash / net income3.4×

Analysis

In Q3 2026, Kimbell Royalty Partners, LP generated $58.1M of operating cash flow and spent $69.7M on capital projects, leaving free cash flow of −$11.6M. That is $74.3M less than in Q3 2025 ($62.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $233M; the largest uses were other financing ($213M), capital spending ($114M), other investing ($177K); besides operations, cash came from net borrowing (+) / repaid (−) ($87.3M); the cash balance fell by $6.3M.

Operating cash flow was $58.1M against net income of $17.3M — 3.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$32.9M, other liabilities +$5.9M, stock-based pay +$4.4M.

Free cash flow

Kimbell Royalty Partners, LP: free cash flow by quarterKimbell Royalty Partners, LP: free cash flow by quarter$56.6MQ4 2024−$168MQ1 2025$72.2MQ2 2025$62.8MQ3 2025$57.2MQ4 2025$49.4MQ1 2026$68.3MQ2 2026−$11.6MQ3 2026
Operating cash flow less capital spending.
Kimbell Royalty Partners, LP: operating cash flow against capital spendingKimbell Royalty Partners, LP: operating cash flow against capital spendingOperating cash flowCapital spending$56.6M$0Q4 2024$54.2M$223MQ1 2025$72.3M$133KQ2 2025$62.8M$7KQ3 2025$57.2M$0Q4 2025$49.4M$0Q1 2026$68.3M$0Q2 2026$58.1M$69.7MQ3 2026
Latest (Q3 2026): Operating cash flow $58.1M, Capital spending $69.7M.

Capital allocation, year by year

Kimbell Royalty Partners, LP: where the cash came from (up) and went (down), by fiscal yearKimbell Royalty Partners, LP: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $91.4MFY2021: Net borrowing $45.6MFY2021: Capital spending −$55.3M$137MFY2021FY2022: Operating cash flow $167MFY2022: Net borrowing $15.9MFY2022: Capital spending −$141M$183MFY2022FY2023: Operating cash flow $174MFY2023: Net borrowing $61.2MFY2023: Shares issued $314MFY2023: Capital spending −$491M$549MFY2023FY2024: Operating cash flow $251MFY2024: Net borrowing −$55.0MFY2024: Capital spending −$22K$251MFY2024FY2025: Operating cash flow $246MFY2025: Net borrowing $202MFY2025: Asset sales $12KFY2025: Capital spending −$223M$449MFY2025
Over these 5 years operating cash flow totalled $930M; the largest uses were capital spending ($910M) and net borrowing ($55.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$33.7M
Debtnone
Net cash$33.7M

Kimbell Royalty Partners, LP funds itself: free cash flow was $119M over the last twelve months, with $33.7M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Kimbell Royalty Partners, LP: sources (+) and uses (−) of cash, Q3 2026Kimbell Royalty Partners, LP: sources (+) and uses (−) of cash, Q3 2026Capital spending−$69.7MOperating cash flow$58.1MCash drawn (+) / kept (−)$11.2MOther financing$398KOther investing−$7K
Kimbell Royalty Partners, LP: sources (+) and uses (−) of cash, TTM to Q3 2026Kimbell Royalty Partners, LP: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$233MOther financing−$213MCapital spending−$114MNet borrowing (+) / repaid (−)$87.3MCash drawn (+) / kept (−)$6.3MOther investing−$177K

From profit to cash

Kimbell Royalty Partners, LP: net income to operating cash flow, Q3 2026Kimbell Royalty Partners, LP: net income to operating cash flow, Q3 2026Net income$17.3MDepreciation & amortization$32.9MStock-based pay$4.4MReceivables−$263KPayables−$37KOther liabilities$5.9MOperating cash flow$58.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$58.1M−$69.7M——$11.2M−$11.6M
Q2 2026$68.3M—−$7.4M$37.8M−$7.8M$68.3M
Q1 2026$49.4M—−$7.3M−$600K$6.8M$49.4M
Q4 2025$57.2M——−$7.0M−$4.0M$57.2M
Q3 2025$62.8M−$7K—−$13.6M−$5.5M$62.8M
Q2 2025$72.3M−$133K—$163M$1.1M$72.2M
Q1 2025$54.2M−$223M—$59.8M−$1.5M−$168M
Q4 2024$56.6M——−$13.0M$538K$56.6M

Kimbell Royalty Partners, LP: income statement and cash flow

Kimbell Royalty Partners, LP, Q3 2026: revenue $86.3M (+7% year over year), operating margin 36.3%. The chart follows the revenue to costs, profit and cash.

Kimbell Royalty Partners, LP: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.