Sabine Royalty Trust (SBR) Income Statement
SBR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSBR revenue and net income
Where SBR's revenue goes
2025Each bar shows an amount and its share of revenue. SBR kept 95.3% of revenue as net income.
SBR profit margins
SBR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −6.7% | −15.1% | +16.2% | +4.8% |
| Gross profit | −6.7% | −15.1% | +16.2% | +4.8% |
| Operating income | −7.7% | −15.9% | +17.0% | +4.7% |
| Net income | −7.8% | −15.7% | +17.1% | +4.8% |
| EPS (diluted) | −7.9% | −15.7% | +15.7% | +6.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SBR quarterly EPS vs estimates
Sabine Royalty beat the analyst EPS estimate in 3 of the last 3 quarters. Next report: November 6, 2026.
SBR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $77.1M | $82.6M | $93.0M | $125.7M | $60.9M | $36.3M | $46.7M | $52.4M | $37.2M | $30.0M |
| Cost of revenue | $0 | −$601,454 | $0 | $0 | $0 | $0 | $0 | −$142,289 | −$40,514 | −$8,418 |
| Gross profit | $77.1M | $82.6M | $93.0M | $125.7M | $60.9M | $36.3M | $46.7M | $52.5M | $37.2M | $30.0M |
| Research & development | — | — | $1 | $1 | $1 | $1 | $1 | $1 | $1 | $1 |
| Sales, general & admin | $4.1M | $3.5M | $3.6M | $3.3M | $3.1M | $3.1M | $2.9M | $2.6M | $2.5M | $2.6M |
| Total operating expenses | $4.1M | $3.5M | $3.6M | $3.3M | $3.1M | $3.1M | $2.9M | $2.6M | $2.4M | $2.5M |
| Operating income | $73.0M | $79.0M | $89.4M | $122.5M | $57.9M | $33.3M | $43.9M | $49.8M | $34.7M | $27.5M |
| Interest income | $471,835 | $601,454 | $639,182 | $231,935 | $5,815 | $30,601 | $166,481 | $142,289 | $40,514 | $8,418 |
| Interest expense | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Income before taxes | $73.4M | $79.6M | $90.3M | $122.7M | $57.9M | $33.3M | $44.0M | $49.9M | $34.7M | $27.5M |
| Income taxes | — | — | $90.3M | −$231,935 | −$5,815 | −$30,601 | −$166,481 | −$142,289 | −$11,829 | $19,251 |
| Net income | $73.4M | $79.6M | $90.3M | $122.7M | $57.9M | $33.3M | $44.0M | $49.9M | $34.7M | $27.5M |
| EBITDA | $73.4M | $79.6M | $90.3M | $122.7M | $57.9M | $194.0M | $44.0M | $49.9M | $34.7M | $27.5M |
| EPS (diluted) | $5.03 | $5.46 | $6.19 | $8.41 | $2.68 | $2.43 | $2.68 | $2.68 | $2.37 | $2.13 |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.3% | 100.0% | 100.0% |
| Operating margin | 94.7% | 95.7% | 96.2% | 97.4% | 95.0% | 91.6% | 93.9% | 95.0% | 93.5% | 91.5% |
| Net margin | 95.3% | 96.5% | 97.0% | 97.6% | 95.0% | 91.7% | 94.2% | 95.3% | 93.5% | 91.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.7M | $14.3M | $13.6M | $25.5M | $18.6M | $19.4M | $19.4M | $19.8M | $22.6M | $20.8M | $34.1M | $14.4M |
| Cost of revenue | $0 | $2,191 | $0 | $0 | $0 | $0 | −$128,308 | $0 | $0 | $0 | $0 | $0 |
| Gross profit | $21.7M | $14.3M | $13.6M | $25.5M | $18.6M | $19.4M | $19.4M | $19.8M | $22.6M | $20.8M | $34.1M | $14.4M |
| Sales, general & admin | $945,309 | $1.2M | $894,721 | $925,998 | $914,305 | $1.4M | $975,754 | $859,880 | $703,464 | $989,304 | $802,657 | $766,161 |
| Total operating expenses | $945,309 | $1.2M | $894,721 | $925,998 | $914,305 | $1.4M | $975,754 | $859,880 | $703,464 | $989,304 | $802,657 | $766,161 |
| Operating income | $20.7M | $13.0M | $12.7M | $24.6M | $17.7M | $18.0M | $18.4M | $18.9M | $21.9M | $19.8M | $33.3M | $13.6M |
| Interest income | $104,767 | $72,749 | $89,584 | $155,561 | $119,730 | $106,960 | $128,308 | $145,868 | $175,353 | $151,926 | $272,878 | $128,927 |
| Income before taxes | $20.8M | $13.0M | $12.8M | $24.8M | $17.8M | $18.1M | $18.6M | $19.1M | $22.1M | $19.9M | $33.5M | $13.7M |
| Income taxes | — | — | — | — | — | — | — | — | $4 | $1 | $247,016 | $14.4M |
| Net income | $20.8M | $13.0M | $12.8M | $24.8M | $17.8M | $18.1M | $18.6M | $19.1M | $22.1M | $19.9M | $33.5M | $13.7M |
| EBITDA | $20.9M | $13.0M | $12.8M | $24.8M | $17.8M | $18.1M | $18.6M | $19.1M | $22.1M | $19.9M | $33.5M | $13.7M |
| EPS (diluted) | $1.43 | $0.89 | $0.87 | $1.70 | $1.22 | $1.24 | $1.27 | $1.31 | $1.51 | $1.37 | $2.30 | $0.94 |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 95.6% | 91.4% | 93.4% | 96.4% | 95.1% | 93.0% | 95.0% | 95.7% | 96.9% | 95.2% | 97.6% | 94.7% |
| Net margin | 96.1% | 91.4% | 94.1% | 97.0% | 95.7% | 93.6% | 95.6% | 96.4% | 97.7% | 96.0% | 98.4% | 95.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SBR's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SBR financial results
In fiscal year 2025 (ended December 31, 2025), Sabine Royalty reported revenue of $77.1 million, down 6.7% from the year before. It had net income of $73.4 million (down 7.8%), a net profit margin of 95.3%. Diluted earnings per share came to $5.03. Over five years revenue grew at an average rate of 16.2% a year.
See the SBR stock overview for the latest quote and news, or the SBR chart for price history and technical indicators.
SBR income statement FAQ
What is Sabine Royalty's annual revenue?
Sabine Royalty reported total revenue of $77.1 million for fiscal year 2025, which ended on December 31, 2025. That was down 6.7% from $82.6 million the previous year.
Is Sabine Royalty profitable?
Yes. Sabine Royalty reported net income of $73.4 million in fiscal 2025, a net profit margin of 95.3%; its operating margin was 94.7%.
What is Sabine Royalty's gross margin?
Sabine Royalty's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Sabine Royalty kept $100 after the direct cost of its products and services.
How fast is Sabine Royalty growing?
Revenue grew 16.2% a year on average over the last five fiscal years, from $36.3 million to $77.1 million.
What are Sabine Royalty's earnings per share?
Sabine Royalty earned $5.03 per diluted share in fiscal 2025, compared with $5.46 a year earlier.
When will Sabine Royalty report its next earnings?
Sabine Royalty is expected to report results for the quarter ending September 30, 2026 on November 6, 2026 after the market closes.
When does Sabine Royalty's fiscal year end?
Sabine Royalty's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.