Key QQ2 2025 metrics and notable observations:
- Net Income: $2,261,000; YoY +11.17%; QoQ +692.03% (net income grew meaningfully from Q1 2025 to Q2 2025).
- Revenue: Not disclosed in the QQ2 2025 filing; cost of revenue and gross profit are also not disclosed, implying limited operating data typical of royalty trusts where cash flows are distributed from royalties rather than operating income.
- Margins (from reported ratio figures): Gross Profit Margin 0.909, Operating Margin 0.909, Pretax Margin 0.908, Net Margin 0.908, signaling high internal profitability on the available activity mix.
- Earnings per Share (EPS): Not disclosed for QQ2 2025; weighted-average shares outstanding 9,191,000.
- Liquidity and balance sheet: Cash and cash equivalents $3.62 million; total assets $3.62 million; net debt is negative $3.62 million (net cash position).
- Cash flow and equity returns: Operating Cash Flow per Share $0.271; Free Cash Flow per Share $0.271; Cash per Share $0.394; Payout-related metrics show Dividend Payout Ratio 0.163 (16.3%); Dividend Yield 0.855%; Return on Assets 62.5%, Return on Equity 126.9%, Return on Capital Employed 127.0% (these ratios reflect the unusual accounting and the nature of the royalty stream).
- Valuation: Price to Earnings 4.76x; Price to Book 24.13x; Enterprise Value Multiple 17.42x; Dividend Yield ~0.86%.
- Leverage: Debt ratios are reported as effectively zero; the company maintains a net cash position, reinforcing financial flexibility for distribution and potential share repurchases or (modestly) capital management.