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TXO Partners, L.P. cash flow, quarter by quarter

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

Free cash flow−$5.3M in Q3 2026 · $49.3M over twelve months

Operating cash flow$33.7M
Capital spending−$39.0M
Free cash flow−$5.3M

Analysis

In Q3 2026, TXO Partners, L.P. generated $33.7M of operating cash flow and spent $39.0M on capital projects, leaving free cash flow of −$5.3M. That is $12.5M less than in Q3 2025 ($7.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $149M; the largest uses were other financing ($147M), capital spending ($99.4M), taxes on employees’ shares ($2.1M); besides operations, cash came from asset & business sales ($101M), other investing ($2.2M); the cash balance rose by $3.3M.

Operating cash flow was $33.7M against net income of −$32.1M. The largest differences: depreciation & amortization +$24.2M, receivables −$12.5M, stock-based pay +$3.0M.

Free cash flow

TXO Partners, L.P.: free cash flow by quarterTXO Partners, L.P.: free cash flow by quarter$28.1MQ4 2024$22.3MQ1 2025$20.2MQ2 2025$7.2MQ3 2025−$3.2MQ4 2025$24.0MQ1 2026$33.9MQ2 2026−$5.3MQ3 2026
Operating cash flow less capital spending.
TXO Partners, L.P.: operating cash flow against capital spendingTXO Partners, L.P.: operating cash flow against capital spendingOperating cash flowCapital spending$40.5M$12.4MQ4 2024$30.6M$8.3MQ1 2025$26.9M$6.7MQ2 2025$28.3M$21.1MQ3 2025$32.5M$35.7MQ4 2025$33.4M$9.4MQ1 2026$49.1M$15.2MQ2 2026$33.7M$39.0MQ3 2026
Latest (Q3 2026): Operating cash flow $33.7M, Capital spending $39.0M.

Capital allocation, year by year

TXO Partners, L.P.: where the cash came from (up) and went (down), by fiscal yearTXO Partners, L.P.: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $73.7MFY2021: Net borrowing $10.0MFY2021: Capital spending −$8.4M$83.7MFY2021FY2022: Operating cash flow $136MFY2022: Net borrowing −$32.0MFY2022: Asset sales $320KFY2022: Capital spending −$23.7M$137MFY2022FY2023: Operating cash flow $77.2MFY2023: Net borrowing −$92.0MFY2023: Shares issued $106MFY2023: Capital spending −$35.8M$183MFY2023FY2024: Operating cash flow $109MFY2024: Net borrowing $129MFY2024: Asset sales $122KFY2024: Capital spending −$23.2M$238MFY2024FY2025: Operating cash flow $118MFY2025: Net borrowing $134MFY2025: Asset sales $18KFY2025: Capital spending −$71.7M$252MFY2025
Over these 5 years operating cash flow totalled $515M; the largest uses were capital spending ($163M) and net borrowing ($124M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$8.6M
Debt$271M
Net debt$262M

TXO Partners, L.P. funds itself: free cash flow was $49.3M over the last twelve months, and $8.6M of cash and investments stands against $271M of debt.

Where the cash came from and went

TXO Partners, L.P.: sources (+) and uses (−) of cash, Q3 2026TXO Partners, L.P.: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$98.8MOther financing−$94.4MCapital spending−$39.0MOperating cash flow$33.7MOther investing−$1.1MNet borrowing (+) / repaid (−)$1.0MAsset & business sales$926K
TXO Partners, L.P.: sources (+) and uses (−) of cash, TTM to Q3 2026TXO Partners, L.P.: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$149MOther financing−$147MAsset & business sales$101MCapital spending−$99.4MCash drawn (+) / kept (−)−$3.3MOther investing$2.2MTaxes on employees’ shares−$2.1M

From profit to cash

TXO Partners, L.P.: net income to operating cash flow, Q3 2026TXO Partners, L.P.: net income to operating cash flow, Q3 2026Net income−$32.1MDepreciation & amortization$24.2MStock-based pay$3.0MOther non-cash$343KReceivables−$12.5MPrepaid and other assets$770KOther liabilities−$2.3MOperating cash flow$33.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$33.7M−$39.0M$1.0M$98.8M−$5.3M
Q2 2026$49.1M−$15.2M−$28.0M−$99.6M$33.9M
Q1 2026$33.4M−$9.4M−$14.0M$1.5M$24.0M
Q4 2025$32.5M−$35.7M$20.0M−$4.1M−$3.2M
Q3 2025$28.3M−$21.1M$252M$2.6M$7.2M
Q2 2025$26.9M−$6.7M−$143M$2.9M$20.2M
Q1 2025$30.6M−$8.3M$5.0M−$3.5M$22.3M
Q4 2024$40.5M−$12.4M$2.0M−$3.5M$28.1M

TXO Partners, L.P.: income statement and cash flow

TXO Partners, L.P., Q3 2026: revenue $55.1M (-45% year over year), operating margin -70.1%. The chart follows the revenue to costs, profit and cash.

TXO Partners, L.P.: 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.