Latest Ratios: P/E Ratio 32.2x · EV/EBITDA 13.4x · ROE 11.1%. (2013–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.4B | $1.4B | $1.9B | $1.4B | $1.1B | $831M | $273M | $360M | $250M | $268M | — |
| Enterprise Value | $1.8B | $1.8B | $2.1B | $1.7B | $1.3B | $1.0B | $438M | $449M | $322M | $293M | — |
| P/E Ratio → | 32.22 | 25.57 | — | 16.54 | 9.71 | 26.73 | — | — | — | 219.89 | — |
| P/S Ratio | 4.15 | 4.27 | 6.06 | 5.13 | 3.86 | 4.66 | 2.94 | 3.28 | 3.74 | 8.75 | — |
| P/B Ratio | 2.33 | 1.85 | 2.18 | 1.36 | 1.35 | 2.38 | 0.72 | 0.56 | 0.38 | 1.02 | — |
| P/FCF | 5.63 | 5.81 | 7.51 | — | 43.67 | 23.49 | — | 5.30 | — | 14.34 | — |
| P/OCF | 5.62 | 5.79 | 7.51 | 8.04 | 6.60 | 9.09 | 4.39 | 4.46 | 7.54 | 14.30 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.49 | 6.73 | 6.10 | 4.60 | 5.85 | 4.71 | 4.09 | 4.81 | 9.57 | — |
| EV / EBITDA | 13.45 | 13.77 | 12.13 | 8.06 | 6.99 | 12.08 | — | 23.18 | — | 16.57 | — |
| EV / EBIT | 13.48 | 13.81 | 56.55 | 14.78 | 8.89 | 20.19 | — | — | — | 143.15 | — |
| EV / FCF | — | 7.46 | 8.34 | — | 52.04 | 29.50 | — | 6.61 | — | 15.69 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 93.9% | 93.9% | 49.9% | 57.2% | 76.7% | 73.5% | 41.5% | 45.6% | 55.8% | -17097.0% | 47.7% |
| Operating Margin | 39.8% | 39.8% | 11.9% | 40.2% | 48.0% | 27.6% | -269.8% | -29.9% | -72.0% | 6.7% | -159.9% |
| Net Profit Margin | 27.2% | 27.2% | 3.9% | 24.3% | 39.3% | 19.0% | -171.7% | -143.9% | -75.4% | 4.0% | -172.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.1% | 11.1% | 1.3% | 7.2% | 19.3% | 9.3% | -31.3% | -24.3% | -10.9% | 0.9% | -54.3% |
| ROA | 7.7% | 7.7% | 1.0% | 5.5% | 13.3% | 5.8% | -24.3% | -21.1% | -9.6% | 0.8% | -25.6% |
| ROIC | 8.8% | 8.8% | 2.3% | 7.1% | 13.0% | 6.7% | -29.6% | -3.4% | -7.1% | 1.0% | -19.6% |
| ROCE | 11.4% | 11.4% | 3.0% | 9.2% | 16.8% | 8.7% | -38.6% | -4.4% | -9.2% | 1.3% | -25.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.58 | 0.58 | 0.28 | 0.29 | 0.29 | 0.63 | 0.46 | 0.16 | 0.13 | 0.12 | 1.23 |
| Debt / EBITDA | 3.39 | 3.39 | 1.41 | 1.43 | 1.26 | 2.54 | — | 5.33 | — | 1.74 | — |
| Net Debt / Equity | — | 0.53 | 0.24 | 0.26 | 0.26 | 0.61 | 0.44 | 0.14 | 0.11 | 0.10 | 1.17 |
| Net Debt / EBITDA | 3.06 | 3.06 | 1.21 | 1.28 | 1.12 | 2.46 | — | 4.59 | — | 1.42 | — |
| Debt / FCF | — | 1.66 | 0.83 | — | 8.37 | 6.01 | — | 1.31 | — | 1.35 | 10.20 |
| Interest Coverage | 3.85 | 3.85 | 1.39 | 4.34 | 10.66 | 5.63 | -38.96 | -26.06 | -11.77 | 2.59 | -13.58 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.64 | 8.64 | 6.69 | 7.95 | 4.01 | 1.60 | 3.23 | 6.28 | 9.90 | 5.63 | 1.13 |
| Quick Ratio | 8.64 | 8.64 | 6.69 | 7.95 | 4.20 | 1356.25 | 3.23 | 5.73 | 9.11 | 5.63 | 1.13 |
| Cash Ratio | 4.29 | 4.29 | 2.68 | 2.39 | 1.31 | 0.25 | 1.12 | 2.61 | 4.15 | 2.50 | 0.43 |
| Asset Turnover | — | 0.27 | 0.28 | 0.20 | 0.26 | 0.30 | 0.16 | 0.15 | 0.09 | 0.10 | 0.18 |
| Inventory Turnover | — | — | — | — | — | — | — | 20.27 | 9.93 | — | — |
| Days Sales Outstanding | — | 40.00 | 57.21 | 81.13 | 64.74 | 78.15 | 72.77 | 63.64 | 102.81 | 83.67 | 82.83 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 9.6% | 12.1% | 8.9% | 10.9% | 11.5% | 8.3% | 18.3% | 19.7% | 15.3% | 5.2% | — |
| Payout Ratio | 189.9% | 189.9% | 1368.5% | 228.8% | 113.3% | 203.5% | — | — | — | 1134.1% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 3.9% | — | 6.0% | 10.3% | 3.7% | — | — | — | 0.5% | — |
| FCF Yield | 17.8% | 17.2% | 13.3% | — | 2.3% | 4.3% | — | 18.9% | — | 7.0% | — |
| Buyback Yield | 13.0% | 12.6% | 0.0% | 0.0% | 0.3% | 0.3% | 22.5% | 0.1% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 22.6% | 24.7% | 8.9% | 10.9% | 11.9% | 8.6% | 40.8% | 19.8% | 15.3% | 5.2% | — |
| Shares Outstanding | — | $121M | $116M | $93M | $66M | $61M | $35M | $21M | $18M | $17M | $16M |
Commodity price volatility exposure
According to current market data, KRP trades at a forward P/E of 17.75 and a P/FCF of 5.62, suggesting that investors are prioritizing the 9.6% dividend yield over the potential for significant capital appreciation in a volatile commodity price environment.
The valuation multiples appear to reflect a market preference for income-generating assets rather than growth-oriented E&P entities. While the forward EV/EBITDA of 8.33 indicates a discount relative to some Permian-focused peers, this may be justified by the lower-decline, diversified nature of KRP's massive, non-operated acreage footprint.
Based on reported financial statements, KRP's ROIC has remained in a narrow range between 1.0% and 2.3% over the last ten quarters, indicating that the company's aggressive inorganic growth strategy has yet to yield a meaningful improvement in long-term capital compounding efficiency.
The persistent low ROIC suggests that the capital deployed for large-scale acquisitions is being offset by the high cost of mineral rights and the inherent depletion of the underlying asset base. Investors should monitor whether future organic drilling activity on existing acreage can drive higher returns without the need for further dilutive capital expenditures.
As reported in recent filings, KRP's DSO has fluctuated between 44 and 68 days, reflecting the inherent lag in royalty check processing from third-party operators, which remains a structural feature of the business model rather than a sign of deteriorating collection efficiency.
The company's asset turnover remains consistently low at approximately 0.06 to 0.07, which is expected given the royalty-interest model's lack of operational control over production assets. This low turnover is a function of the business structure and should not be interpreted as operational inefficiency, but rather as a reflection of the passive nature of the revenue stream.
According to quarterly data, KRP maintains a debt-to-equity ratio of 0.58, which, while rising from 0.29 in 2024Q1, remains well within a healthy range that provides the firm with significant dry powder for opportunistic acquisitions in a high-interest-rate environment.
The interest coverage ratio, which has generally remained above 3.0x, suggests that the company is comfortably servicing its debt obligations despite the cyclical nature of its cash flows. This balance sheet strength appears to be a key competitive advantage, allowing KRP to navigate commodity downturns without the liquidity pressures that often plague more levered E&P peers.
Based on an analysis of KRP's financial reporting, the P/E ratio is the most commonly misapplied metric for this business model, as it fails to account for the significant non-cash depletion and amortization charges that artificially depress reported earnings.
Investors should instead focus on Distributable Cash Flow (DCF) to assess the true earning power and dividend-paying capacity of the firm. Relying on GAAP net income obscures the underlying cash-generating reality of the royalty interest model and may lead to an incorrect assessment of the company's valuation and financial health.
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying KRP stock.
Kimbell Royalty Partners, LP's current P/E ratio is 32.2x. The historical average is 19.6x. This places it at the 100th percentile of its historical range.
Kimbell Royalty Partners, LP's current EV/EBITDA is 13.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.3x.
Kimbell Royalty Partners, LP's return on equity (ROE) is 11.1%. The historical average is -15.9%.
Based on historical data, Kimbell Royalty Partners, LP is trading at a P/E of 32.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kimbell Royalty Partners, LP's current dividend yield is 9.61% with a payout ratio of 189.9%.
Kimbell Royalty Partners, LP has 93.9% gross margin and 39.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Kimbell Royalty Partners, LP's Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.