MorningStar Partners, L.P. (TXO) - Net Assets
Based on the latest financial reports, MorningStar Partners, L.P. (TXO) has net assets worth $736.22 Million USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.38 Billion) and total liabilities ($639.94 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of MorningStar Partners, L.P. to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $736.22 Million |
| % of Total Assets | 53.5% |
| Annual Growth Rate | 19.06% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 34.84 |
MorningStar Partners, L.P. - Net Assets Trend (2020–2024)
This chart illustrates how MorningStar Partners, L.P.'s net assets have evolved over time, based on quarterly financial data. Also explore MorningStar Partners, L.P. assets under control for the complete picture of this company's asset base.
Annual Net Assets for MorningStar Partners, L.P. (2020–2024)
The table below shows the annual net assets of MorningStar Partners, L.P. from 2020 to 2024. For live valuation and market cap data, see TXO market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $609.42 Million | +28.62% |
| 2023-12-31 | $473.80 Million | -9.15% |
| 2022-12-31 | $521.54 Million | -3.66% |
| 2021-12-31 | $541.36 Million | +78.51% |
| 2020-12-31 | $303.27 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to MorningStar Partners, L.P.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $609.42 Million | 100.00% |
| Total Equity | $609.42 Million | 100.00% |
MorningStar Partners, L.P. Competitors by Market Cap
The table below lists competitors of MorningStar Partners, L.P. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Seoul Semiconductor Co. Ltd
KQ:046890
|
$685.08 Million |
|
Gallant Precision Machining Co Ltd
TWO:5443
|
$685.10 Million |
|
ITE Tech Inc
TW:3014
|
$685.26 Million |
|
Guangdong Biolight Meditech Co Ltd
SHE:300246
|
$685.28 Million |
|
Jiangsu Kuangshun Photosensitivity New-Material Stock Co Ltd
SHE:300537
|
$684.80 Million |
|
Sichuan Tianyi Comheart Telecom Co Ltd Class A
SHE:300504
|
$684.52 Million |
|
Pegavision
TW:6491
|
$684.39 Million |
|
Qifeng New Material Co Ltd
SHE:002521
|
$684.32 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MorningStar Partners, L.P.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 473,798,000 to 609,416,000, a change of 135,618,000 (28.6%).
- Net income of 23,496,000 contributed positively to equity growth.
- Dividend payments of 85,355,000 reduced retained earnings.
- Share repurchases of 142,163,000 reduced equity.
- New share issuances of 141,233,000 increased equity.
- Other factors increased equity by 198,407,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $23.50 Million | +3.86% |
| Dividends Paid | $85.36 Million | -14.01% |
| Share Repurchases | $142.16 Million | -23.33% |
| Share Issuances | $141.23 Million | +23.18% |
| Other Changes | $198.41 Million | +32.56% |
| Total Change | $- | 28.62% |
Book Value vs Market Value Analysis
This analysis compares MorningStar Partners, L.P.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.74x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.24x to 0.74x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | $10.11 | $12.50 | x |
| 2021-12-31 | $18.05 | $12.50 | x |
| 2022-12-31 | $17.38 | $12.50 | x |
| 2023-12-31 | $15.65 | $12.50 | x |
| 2024-12-31 | $16.87 | $12.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MorningStar Partners, L.P. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.86%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.31%
- • Asset Turnover: 0.27x
- • Equity Multiplier: 1.69x
- Recent ROE (3.86%) is above the historical average (-12.74%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -53.83% | -150.08% | 0.17x | 2.06x | $-193.56 Million |
| 2021 | 9.69% | 22.98% | 0.27x | 1.54x | $-1.66 Million |
| 2022 | -1.47% | -3.11% | 0.27x | 1.77x | $-59.82 Million |
| 2023 | -21.95% | -27.31% | 0.55x | 1.47x | $-151.37 Million |
| 2024 | 3.86% | 8.31% | 0.27x | 1.69x | $-37.45 Million |
Industry Comparison
This section compares MorningStar Partners, L.P.'s net assets metrics with peer companies in the Oil & Gas E&P industry.
Industry Context
- Industry: Oil & Gas E&P
- Average net assets among peers: $681,115,730
- Average return on equity (ROE) among peers: -33.07%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MorningStar Partners, L.P. (TXO) | $736.22 Million | -53.83% | 0.87x | $684.80 Million |
| Amplify Energy Corp (AMPY) | $485.59 Million | -17.52% | 0.42x | $225.45 Million |
| AleAnna, Inc. Class A Common Stock (ANNA) | $1.22 Million | -424.63% | 26.72x | $105.31 Million |
| APA Corporation (APA) | $439.90 Million | 7.87% | 1.75x | $9.63 Billion |
| Antero Resources Corp (AR) | $1.96 Billion | 20.05% | 0.93x | $10.72 Billion |
| Battalion Oil Corp (BATL) | $174.56 Million | -1.75% | 1.78x | $41.80 Million |
| BKV Corporation (BKV) | $1.48 Billion | 7.91% | 0.82x | $3.02 Billion |
| Barnwell Industries Inc (BRN) | $14.93 Million | 33.55% | 1.59x | $11.58 Million |
| Berry Petroleum Corp (BRY) | $972.45 Million | 4.48% | 0.74x | $253.00 Million |
| Black Stone Minerals LP (BSM) | $1.21 Billion | 39.38% | 0.05x | $2.91 Billion |
| Chord Energy Corp (CHRD) | $76.18 Million | 0.00% | 0.51x | $5.96 Billion |
About MorningStar Partners, L.P.
TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico; the San Juan Basin of New Mexico and Colorado; and the Williston Basin of Montana and North Dakota. T… Read more