KNOT Offshore Partners LP income statement KNOP

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, KNOT Offshore Partners LP reported revenue of $364.4 million, up 14.4% from the year before. Net income was $23.3 million, a profit margin of 6.4%. Operating income came to $84.6 million, an operating margin of 23.2%. Across the 10 fiscal years shown, revenue grew from $173.7 million in fiscal 2016 to $364.4 million in fiscal 2025, about 8.6% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017	FY 2016 Dec 31, 2016
Revenue	364 +14.4%	319 +9.6%	291 +8.2%	269 -4.5%	281 +0.7%	279 -1.2%	283 +1.5%	278 +26.9%	219 +26.2%	174 +12.0%
Selling, general and administrative	7 +21.9%	6 -1.2%	6 +0.7%	6 -5.6%	6 +19.8%	5 +11.0%	5 -8.2%	5 -4.8%	6 +27.1%	4 +1.9%
Operating income	85 +16.1%	73 +190.1%	25 -62.0%	66 -10.0%	74 -40.2%	123 -3.6%	128 -0.7%	129 +34.9%	95 +16.1%	82 +20.6%
Foreign currency gain (loss)	-0 +90.6%	-1 -297.9%	-0 -207.7%	0 +329.2%	-0 -268.4%	0 +122.6%	-0 -219.0%	-0 +70.4%	-0 -92.1%	-0 -32.4%
Other income (expense)	-60 -3.4%	-58 +9.1%	-64 -859.0%	-7 +65.2%	-19 +66.8%	-58 +15.9%	-69 -47.8%	-47	—	—
Pretax income	24 +66.2%	15 +137.8%	-39 -165.4%	60 +9.5%	54 -16.7%	65 +10.6%	59 -28.2%	82 +20.7%	68 +11.4%	61 +51.3%
Income tax	1 +84.3%	1 +113.7%	-5 -625.1%	1 +79.3%	0 +4780.0%	0 +11.1%	0 +550.0%	-0 +87.5%	-0 -6.7%	-0 +74.6%
Net income	23 +65.4%	14 +141.0%	-34 -158.5%	59 +8.9%	54 -17.4%	65 +10.6%	59 -28.2%	82 +20.7%	68 +11.4%	61 +51.1%
Other measures
Depreciation and amortization	120 +7.1%	112 +0.8%	111 +3.2%	107 +7.9%	100 +10.9%	90 -0.1%	90 +1.2%	89 +24.0%	72 +27.3%	56 +15.1%
EBITDA	204 +10.6%	185 +35.8%	136 -21.7%	174 +0.3%	173 -18.7%	213 -2.2%	218 +0.1%	217 +30.2%	167 +20.6%	138 +18.3%
Interest coverage	1.36x	1.08x	0.35x	1.55x	2.62x	3.89x	2.52x	2.58x	3.10x	3.94x
Margins
Operating margin	23.23%	22.89%	8.65%	24.66%	26.17%	44.08%	45.21%	46.26%	43.50%	47.31%
Pretax margin	6.70%	4.61%	-13.39%	22.17%	19.34%	23.36%	20.87%	29.53%	31.04%	35.17%
Profit margin	6.38%	4.41%	-11.81%	21.84%	19.16%	23.36%	20.87%	29.54%	31.05%	35.18%
EBITDA margin	56.07%	57.98%	46.79%	64.65%	61.58%	76.22%	77.02%	78.16%	76.16%	79.69%
Effective tax rate	4.76%	4.29%	—	1.47%	0.90%	0.02%	0.02%	-0.00%	-0.02%	-0.02%

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.

New to this? Read How to Read an Income Statement, With a Real Example.

Company profile

Industry: Water Transportation (SIC 4400)
Listed as: KNOP (NYSE)
Fiscal year ends: December 31
Incorporated in: Marshall Islands
Headquarters: Aberdeen
SEC filer status: Accelerated filer
SEC CIK: 1564180

Other Water Transportation companies

Royal Caribbean Cruises Ltd RCL
Carnival Corp Ltd. CCL
Viking Holdings Ltd VIK
Norwegian Cruise Line Holdings Ltd. NCLH
Kirby Corp KEX
Matson, Inc. MATX
International Seaways, Inc. INSW
Golar LNG Ltd GLNG

All 23 Water Transportation companies

Source: SEC EDGAR filings. This is company-reported data, not investment advice.