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Side-by-side financial comparison of James River Group Holdings, Inc. (JRVR) and TXO Partners, L.P. (TXO). Click either name above to swap in a different company.

James River Group Holdings, Inc. is the larger business by last-quarter revenue ($151.4M vs $103.7M, roughly 1.5× TXO Partners, L.P.). On growth, TXO Partners, L.P. posted the faster year-over-year revenue change (14.5% vs -12.1%). Over the past eight quarters, TXO Partners, L.P.'s revenue compounded faster (23.1% CAGR vs -10.3%).

James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.

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.

JRVR vs TXO — Head-to-Head

Bigger by revenue
JRVR
JRVR
1.5× larger
JRVR
$151.4M
$103.7M
TXO
Growing faster (revenue YoY)
TXO
TXO
+26.6% gap
TXO
14.5%
-12.1%
JRVR
Faster 2-yr revenue CAGR
TXO
TXO
Annualised
TXO
23.1%
-10.3%
JRVR

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
JRVR
JRVR
TXO
TXO
Revenue
$151.4M
$103.7M
Net Profit
$-28.3M
Gross Margin
Operating Margin
-26.1%
Net Margin
-27.2%
Revenue YoY
-12.1%
14.5%
Net Profit YoY
-376.5%
EPS (diluted)
$-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
JRVR
JRVR
TXO
TXO
Q1 26
$151.4M
Q4 25
$167.7M
$103.7M
Q3 25
$172.7M
$90.6M
Q2 25
$174.8M
$75.0M
Q1 25
$172.3M
$93.8M
Q4 24
$126.7M
$90.6M
Q3 24
$191.5M
$69.3M
Q2 24
$188.3M
$57.0M
Net Profit
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
$32.1M
$-28.3M
Q3 25
$1.0M
$4.4M
Q2 25
$4.8M
$-135.0K
Q1 25
$9.6M
$2.4M
Q4 24
$-64.8M
$10.2M
Q3 24
$-39.4M
$203.0K
Q2 24
$7.6M
$2.8M
Operating Margin
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
14.6%
-26.1%
Q3 25
1.5%
4.2%
Q2 25
4.2%
-5.0%
Q1 25
9.3%
-3.8%
Q4 24
-57.0%
6.1%
Q3 24
-27.1%
-7.2%
Q2 24
10.7%
-17.7%
Net Margin
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
19.1%
-27.2%
Q3 25
0.6%
4.8%
Q2 25
2.7%
-0.2%
Q1 25
5.6%
2.6%
Q4 24
-51.1%
11.3%
Q3 24
-20.6%
0.3%
Q2 24
4.0%
4.9%
EPS (diluted)
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
$0.59
$-0.57
Q3 25
$-0.02
$0.08
Q2 25
$0.06
$0.00
Q1 25
$0.16
$0.06
Q4 24
$-2.44
$0.22
Q3 24
$-1.10
$0.01
Q2 24
$0.13
$0.09

Balance Sheet & Financial Strength

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

Metric
JRVR
JRVR
TXO
TXO
Cash + ST InvestmentsLiquidity on hand
$228.2M
$9.4M
Total DebtLower is stronger
$291.1M
Stockholders' EquityBook value
$518.4M
Total Assets
$4.8B
$1.4B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
JRVR
JRVR
TXO
TXO
Q1 26
$228.2M
Q4 25
$260.9M
$9.4M
Q3 25
$238.8M
$5.3M
Q2 25
$220.0M
$8.0M
Q1 25
$279.4M
$10.8M
Q4 24
$362.3M
$7.3M
Q3 24
$359.8M
$3.8M
Q2 24
$672.5M
$76.0M
Total Debt
JRVR
JRVR
TXO
TXO
Q1 26
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
Stockholders' Equity
JRVR
JRVR
TXO
TXO
Q1 26
$518.4M
Q4 25
$538.2M
Q3 25
$503.6M
Q2 25
$492.6M
Q1 25
$484.5M
Q4 24
$460.9M
Q3 24
$530.3M
Q2 24
$541.8M
Total Assets
JRVR
JRVR
TXO
TXO
Q1 26
$4.8B
Q4 25
$4.9B
$1.4B
Q3 25
$5.0B
$1.4B
Q2 25
$5.0B
$1.0B
Q1 25
$4.9B
$1.0B
Q4 24
$5.0B
$1.0B
Q3 24
$5.0B
$1.0B
Q2 24
$4.7B
$774.5M

Cash Flow & Capital Efficiency

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

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

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
$-18.8M
$32.5M
Q3 25
$34.3M
$28.3M
Q2 25
$25.2M
$26.9M
Q1 25
$-51.5M
$30.6M
Q4 24
$-247.1M
$40.5M
Q3 24
$-269.9M
$20.7M
Q2 24
$-8.7M
$22.9M
Free Cash Flow
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
$-23.6M
Q3 25
$33.7M
Q2 25
$24.7M
Q1 25
$-52.7M
Q4 24
$-252.0M
Q3 24
$-270.8M
Q2 24
$-9.3M
FCF Margin
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
-14.1%
Q3 25
19.5%
Q2 25
14.1%
Q1 25
-30.6%
Q4 24
-198.9%
Q3 24
-141.4%
Q2 24
-4.9%
Capex Intensity
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
2.9%
Q3 25
0.4%
Q2 25
0.3%
Q1 25
0.7%
Q4 24
3.9%
Q3 24
0.4%
Q2 24
0.3%
Cash Conversion
JRVR
JRVR
TXO
TXO
Q1 26
Q4 25
-0.59×
Q3 25
33.61×
6.50×
Q2 25
5.29×
Q1 25
-5.38×
12.67×
Q4 24
3.96×
Q3 24
102.02×
Q2 24
-1.14×
8.15×

Financial Flow Comparison

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

Revenue Breakdown by Segment

JRVR
JRVR

Segment breakdown not available.

TXO
TXO

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

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