TXO
TXO Partners, L.P.
TXO lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
TXO Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Strong | |
| Weak |
TXO's revenue and cash flow are currently strong, but its profitability and balance sheet are weak.
TXO PE Valuation
TXO has no meaningful PE right now: it lost money over the past year.
TXO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for TXO, with profitability improving. However, they disagree widely on these estimates.
TXO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.90 | — |
| Q3 2026 | -$1.43 | -497% |
| Q2 2026 | -$0.77 | -366% |
| Q1 2026 | -$1.84 | -584% |
| Q4 2025 | -$0.43 | -166% |
| Q3 2025 | $0.36 | +$6.42 |
| Q2 2025 | $0.29 | +$6.09 |
| Q1 2025 | $0.38 | +$6.35 |
| Q4 2024 | $0.65 | +$4.09 |
TXO has swung to a loss: it lost $1.43 per share over the past year, after a profit the year before.
TXO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $113M | +12% |
| Q2 2026 | $150.9M | +68% |
| Q1 2026 | $119.6M | +42% |
| Q4 2025 | $125.9M | +41% |
| Q3 2025 | $100.9M | +47% |
| Q2 2025 | $89.9M | +57% |
| Q1 2025 | $84.3M | +25% |
| Q4 2024 | $89.3M | -2.9% |
TXO's revenue is recovering but still below its 2023 peak: $113M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -34% | -38 points |
| Q2 2026 | 38% | +42 points |
| Q1 2026 | -65% | -61 points |
| Q4 2025 | -21% | -28 points |
| Q3 2025 | 3.7% | +11 points |
| Q2 2025 | -4.1% | +14 points |
| Q1 2025 | -4.3% | -8.3 points |
| Q4 2024 | 6.2% | +222 points |
TXO's operating margin was −34% last quarter, down 38 points from the same quarter a year ago.
TXO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $33.7M | +19% |
| Q2 2026 | $49.1M | +83% |
| Q1 2026 | $33.4M | +9.1% |
| Q4 2025 | $32.5M | -20% |
| Q3 2025 | $28.3M | +37% |
| Q2 2025 | $26.9M | +17% |
| Q1 2025 | $30.6M | +21% |
| Q4 2024 | $40.5M | +133% |
TXO generated $149M in free cash flow over the past year, up 18% from the year before.
TXO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.2% | -1.2M shares |
| 1 year | -0.6% | -361K shares |
| 3 years | +77% | +24.2M shares |
| 5 years | +85% | +25.4M shares |
| Available history | +85% | +25.4M shares |
TXO has 55M diluted shares, down 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
TXO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 12.3x | High |
| Q2 2026 | 2.6x | Moderate |
| Q4 2025 | 4.3x | High |
| Q3 2025 | 3.1x | Elevated |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 3.0x | Elevated |
| Q4 2024 | 3.3x | Elevated |
| Q3 2023 | 0.2x | Very low |
TXO's net debt is about 12 years of its operating earnings (EBITDA), up from less than a year a year ago.
TXO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.7 | Neutral |
| Stochastic | 37.6 | Neutral |
TXO's weekly RSI is 53 (neutral) and its Stochastic is 38 (neutral).
TXO PE vs Energy Sector
| Metric | TXO | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
TXO has no meaningful PE right now: it lost money over the past year.
TXO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $14.0 | 0% above |
| 20 week MA | $13.9 | 0.7% above |
| 50 week MA | $12.9 | 8.8% above |
| 100 week MA | $14.4 | 2.7% below |
TXO's trend is mixed: it's above two of its four weekly moving averages, and 2.7% below its 100-week average.
TXO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $22.0 | $18.2 | -17% |
| 2024 | $18.2 | $16.8 | -7.5% |
| 2025 | $16.8 | $10.6 | -37% |
| 2026 YTD | $10.6 | $14.0 | +33% |
TXO has finished every year since 2023 lower, and it's up 33% so far in 2026.