In fiscal 2025, which ended Dec 31, 2025, TXO Partners, L.P. reported revenue of $363.1 million, up 27.3% from the year before. It recorded a net loss of $21.6 million. The operating loss came to $30.6 million, an operating margin of -8.4%. Diluted earnings per share were -$0.43. Over the twelve months ended Sep 30, 2026, revenue was $470.7 million and the net loss was $73.9 million.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2026
Sep 30, 2026
|
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
FY 2023
Dec 31, 2023
|
|---|---|---|---|---|
| Revenue |
471
+34.5%
|
363
+27.3%
|
285
-20.2%
|
358
|
| Selling, general and administrative |
18
-12.1%
|
21
+47.7%
|
15
+84.2%
|
8
|
| Operating income |
-86
-4443.4%
|
-31
-345.7%
|
-7
+94.5%
|
-124
|
| Net income |
-74
-538.6%
|
-22
-192.0%
|
23
+122.6%
|
-104
|
| Basic EPS |
-1.34
-467.7%
|
-0.43
-165.2%
|
0.66
+119.2%
|
-3.44
|
| Diluted EPS |
-1.36
-479.0%
|
-0.43
-166.2%
|
0.65
+118.9%
|
-3.44
|
| Weighted average shares, basic |
55
+19.3%
|
50
+40.0%
|
36
+17.5%
|
30
|
| Weighted average shares, diluted |
54
+15.7%
|
50
+37.7%
|
36
+19.4%
|
30
|
| Other measures | ||||
| Depreciation and amortization |
107
+25.9%
|
97
+84.3%
|
52
+18.3%
|
44
|
| EBITDA |
21
-75.5%
|
66
+44.9%
|
46
+157.3%
|
-79
|
| Interest coverage |
-3.70x
|
-1.80x
|
-0.87x
|
—
|
| Margins | ||||
| Operating margin |
-18.17%
|
-8.42%
|
-2.40%
|
-34.62%
|
| Profit margin |
-15.70%
|
-5.95%
|
8.23%
|
-29.08%
|
| EBITDA margin |
4.52%
|
18.17%
|
15.96%
|
-22.23%
|
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. The first column is the trailing twelve months through the latest quarter. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Crude Petroleum & Natural Gas (SIC 1311)
- Listed as
- TXO (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- United States
- Headquarters
- Fort Worth, TX
- SEC filer status
- Accelerated filer, Emerging growth company
- SEC CIK
- 1559432
- Former names
- TXO Energy Partners, L.P. (until May 9, 2023); MorningStar Partners, L.P. (until Jan 27, 2023)
Other Crude Petroleum & Natural Gas companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.