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Side-by-side financial comparison of Cheer Holding, Inc. (CHR) and TXO Partners, L.P. (TXO). Click either name above to swap in a different company.

TXO Partners, L.P. is the larger business by last-quarter revenue ($103.7M vs $71.0M, roughly 1.5× Cheer Holding, Inc.). Cheer Holding, Inc. runs the higher net margin — 10.9% vs -27.2%, a 38.2% gap on every dollar of revenue. On growth, TXO Partners, L.P. posted the faster year-over-year revenue change (14.5% vs -0.1%).

Cheer Holding, Inc. is a diversified holding company primarily operating in the Chinese market, with core business segments covering early childhood education services, mobile lifestyle platforms, digital content offerings, and integrated consumer solutions for households and enterprise partners across multiple demand scenarios.

TXO Partners, L.P. is a U.S.-based energy sector master limited partnership. It acquires, develops and manages oil and natural gas assets across key North American production basins, with operations covering upstream exploration, production and midstream transportation, serving industrial, utility and wholesale energy clients.

CHR vs TXO — Head-to-Head

Bigger by revenue
TXO
TXO
1.5× larger
TXO
$103.7M
$71.0M
CHR
Growing faster (revenue YoY)
TXO
TXO
+14.5% gap
TXO
14.5%
-0.1%
CHR
Higher net margin
CHR
CHR
38.2% more per $
CHR
10.9%
-27.2%
TXO

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
CHR
CHR
TXO
TXO
Revenue
$71.0M
$103.7M
Net Profit
$7.8M
$-28.3M
Gross Margin
70.7%
Operating Margin
11.7%
-26.1%
Net Margin
10.9%
-27.2%
Revenue YoY
-0.1%
14.5%
Net Profit YoY
-37.5%
-376.5%
EPS (diluted)
$0.67
$-0.57

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
CHR
CHR
TXO
TXO
Q4 25
$103.7M
Q3 25
$90.6M
Q2 25
$71.0M
$75.0M
Q1 25
$93.8M
Q4 24
$90.6M
Q3 24
$69.3M
Q2 24
$71.1M
$57.0M
Q1 24
$68.5M
Net Profit
CHR
CHR
TXO
TXO
Q4 25
$-28.3M
Q3 25
$4.4M
Q2 25
$7.8M
$-135.0K
Q1 25
$2.4M
Q4 24
$10.2M
Q3 24
$203.0K
Q2 24
$12.4M
$2.8M
Q1 24
$10.3M
Gross Margin
CHR
CHR
TXO
TXO
Q4 25
Q3 25
Q2 25
70.7%
Q1 25
Q4 24
Q3 24
Q2 24
73.4%
Q1 24
Operating Margin
CHR
CHR
TXO
TXO
Q4 25
-26.1%
Q3 25
4.2%
Q2 25
11.7%
-5.0%
Q1 25
-3.8%
Q4 24
6.1%
Q3 24
-7.2%
Q2 24
16.4%
-17.7%
Q1 24
3.9%
Net Margin
CHR
CHR
TXO
TXO
Q4 25
-27.2%
Q3 25
4.8%
Q2 25
10.9%
-0.2%
Q1 25
2.6%
Q4 24
11.3%
Q3 24
0.3%
Q2 24
17.5%
4.9%
Q1 24
15.0%
EPS (diluted)
CHR
CHR
TXO
TXO
Q4 25
$-0.57
Q3 25
$0.08
Q2 25
$0.67
$0.00
Q1 25
$0.06
Q4 24
$0.22
Q3 24
$0.01
Q2 24
$1.23
$0.09
Q1 24
$0.33

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CHR
CHR
TXO
TXO
Cash + ST InvestmentsLiquidity on hand
$9.4M
Total DebtLower is stronger
$291.1M
Stockholders' EquityBook value
$322.1M
Total Assets
$362.7M
$1.4B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CHR
CHR
TXO
TXO
Q4 25
$9.4M
Q3 25
$5.3M
Q2 25
$8.0M
Q1 25
$10.8M
Q4 24
$7.3M
Q3 24
$3.8M
Q2 24
$186.1M
$76.0M
Q1 24
$4.6M
Total Debt
CHR
CHR
TXO
TXO
Q4 25
$291.1M
Q3 25
$271.1M
Q2 25
$19.1M
Q1 25
$162.1M
Q4 24
$157.1M
Q3 24
$155.1M
Q2 24
$7.1M
Q1 24
$26.1M
Stockholders' Equity
CHR
CHR
TXO
TXO
Q4 25
Q3 25
Q2 25
$322.1M
Q1 25
Q4 24
Q3 24
Q2 24
$286.1M
Q1 24
Total Assets
CHR
CHR
TXO
TXO
Q4 25
$1.4B
Q3 25
$1.4B
Q2 25
$362.7M
$1.0B
Q1 25
$1.0B
Q4 24
$1.0B
Q3 24
$1.0B
Q2 24
$333.2M
$774.5M
Q1 24
$688.2M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CHR
CHR
TXO
TXO
Operating Cash FlowLast quarter
$3.9M
$32.5M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
0.51×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CHR
CHR
TXO
TXO
Q4 25
$32.5M
Q3 25
$28.3M
Q2 25
$3.9M
$26.9M
Q1 25
$30.6M
Q4 24
$40.5M
Q3 24
$20.7M
Q2 24
$-6.7M
$22.9M
Q1 24
$25.2M
Cash Conversion
CHR
CHR
TXO
TXO
Q4 25
Q3 25
6.50×
Q2 25
0.51×
Q1 25
12.67×
Q4 24
3.96×
Q3 24
102.02×
Q2 24
-0.54×
8.15×
Q1 24
2.45×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CHR
CHR

Segment breakdown not available.

TXO
TXO

Oil And Condensate$92.8M89%
Natural Gas Liquids Reserves$8.2M8%
Other$2.8M3%

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