Mesa Royalty Trust (MTR) Cash Flow Statement
Where MTR’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $510,910 −4.5% vs 2024
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- $510,910 84.9% margin
- Returned to shareholders
- $433,920 85% of free cash flow
- Change in cash
- $32,440
Drawn to scale: where the cash came from and how it was used. Hover for values.
MTR operating cash flow, capex and free cash flow
MTR cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.2M2016 | $510,9102025 | −9.2%/yr | |
| Capital expenditures | $02016 | $02025 | — | |
| Free cash flow | $1.2M2016 | $510,9102025 | −9.2%/yr | |
| Free cash flow margin | 88.9%2016 | 84.9%2025 | −4.1 pts | |
| Operating cash flow / net income | 1.002016 | 1.002025 | 0.00 | |
| Dividends paid | $1.2M2016 | $433,9202025 | −10.7%/yr | |
| Capex / revenue | 0.0%2016 | 0.0%2025 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MTR cash flow by activity
MTR net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
MTR cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $510,906 | $462,956 | $2.9M | $1.1M | $224,484 | $544,685 | $1.6M | $2.1M | $2.9M | $1.2M |
| Depreciation & amortization | — | $52,845 | $82,604 | $78,620 | $41,821 | $93,572 | — | — | — | — |
| Change in working capital | — | — | — | — | — | −$1.1M | $99,273 | −$61,154 | −$81,305 | $119,671 |
| Other non-cash items | $4 | $19,159 | −$81.6M | −$79.8M | −$182,663 | $1.0M | −$99,269 | $61,152 | $81,306 | −$119,673 |
| Cash from operating activities | $510,910 | $534,960 | −$78.6M | −$78.6M | $83,642 | $565,750 | $1.6M | $2.1M | $2.9M | $1.2M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing activities | ||||||||||
| Dividends paid | −$433,920 | −$393,140 | −$2.8M | −$3.7M | −$787,030 | −$544,690 | −$1.7M | −$2.2M | −$2.8M | −$1.2M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$44,550 | −$52,850 | −$82,600 | −$78,620 | −$41,820 | −$93,570 | −$146,340 | −$224,610 | −$461,080 | −$295,380 |
| Cash from financing activities | −$478,470 | −$445,990 | −$2.9M | −$3.7M | −$828,850 | −$638,260 | −$1.8M | −$2.4M | −$3.3M | −$1.5M |
| Summary | ||||||||||
| Net change in cash | $32,440 | $88,970 | −$78.6M | −$78.6M | $83,642 | $99,273 | −$207,490 | −$305,920 | −$341,410 | −$288,640 |
| Cash at end of period | — | — | $2.42B | $2.42B | $1.2M | $1.1M | $1.4M | $1.5M | $1.3M | $1.1M |
| Free cash flow | $510,910 | $534,960 | −$78.6M | −$78.6M | $83,642 | $565,750 | $1.6M | $2.1M | $2.9M | $1.2M |
| Free cash flow margin | 84.9% | 71.7% | −2,397.0% | −1,908.5% | 9.2% | 68.0% | 90.4% | 91.7% | 97.0% | 88.9% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | 1.00 | 1.16 | −27.52 | −73.67 | 0.37 | 1.04 | 1.00 | 1.00 | 1.00 | 1.00 |
| Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Mar '24 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | $145,197 | $88,894 | $195,817 | $80,999 | $62,334 | $54,942 | $122,029 | $283,672 |
| Depreciation & amortization | $9,147 | — | — | $10,004 | $21,051 | — | $10,720 | $15,789 |
| Other non-cash items | $356,566 | $276,816 | $81,003 | −$10,003 | $451,575 | $417,678 | −$926,479 | −$267,883 |
| Cash from operating activities | $510,910 | $365,710 | $276,820 | $81,000 | $534,960 | $472,620 | −$793,730 | $31,578 |
| Investing activities | ||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing activities | ||||||||
| Dividends paid | −$433,920 | −$309,940 | −$237,940 | −$61,610 | −$393,140 | −$335,040 | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$44,550 | −$35,410 | −$24,530 | −$10,000 | −$52,850 | −$31,800 | — | — |
| Cash from financing activities | −$478,470 | −$345,350 | −$262,470 | −$71,610 | −$445,990 | −$366,840 | — | — |
| Summary | ||||||||
| Net change in cash | $32,440 | $20,360 | $14,350 | $9,390 | $88,970 | $105,790 | −$793,730 | $31,578 |
| Cash at end of period | — | — | — | — | — | — | −$762,152 | $31,578 |
| Free cash flow | $510,910 | $365,710 | $276,820 | $81,000 | $534,960 | $472,620 | −$793,730 | $31,578 |
| Free cash flow margin | 318.1% | 283.5% | 125.3% | 62.0% | 461.9% | 738.9% | −381.8% | 8.1% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | 3.52 | 4.11 | 1.41 | 1.00 | 8.58 | 8.60 | −6.50 | 0.11 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
MTR cash generation
In fiscal 2025 (ended December 31, 2025), Mesa Royalty generated $0.5 million of cash from operations (down 4.5%) and spent $0 on capital expenditures, leaving free cash flow of $0.5 million, 84.9% of revenue. It returned $0.4 million to shareholders through dividends ($0.4 million) and net share buybacks ($0). Cash and equivalents rose by $0.0 million over the year.
Related: MTR income statement, MTR balance sheet, MTR dividend history. See the MTR stock overview for the latest quote and news.
MTR cash flow FAQ
What is Mesa Royalty's free cash flow?
Mesa Royalty's free cash flow was $0.5 million in fiscal 2025: $0.5 million of operating cash flow minus $0 of capital expenditures It was $0.5 million a year earlier..
How much cash does Mesa Royalty generate from operations?
Mesa Royalty generated $0.5 million of cash from operating activities in fiscal 2025, 1.00 times its net income of $0.5 million.
How much does Mesa Royalty pay in dividends?
Mesa Royalty paid $0.4 million in dividends in fiscal 2025, 84.9% of free cash flow.