CKX Lands Inc (NYSE American: CKX) is a land company that owns and manages acreage in Louisiana, generating revenue by leasing surface rights, collecting oil and gas royalties, and selling timber. Revenue comes from three streams: oil and gas income, timber sales, and surface revenue, which together totaled $838,543 in FY2025, down from $1,521,124 in FY2024. Surface revenue was the largest contributor in FY2024 at $1,081,053 but fell 69.6% to $328,249 in FY2025. Oil and gas revenue was $415,469 in FY2025, essentially flat year over year. Timber sales rose 326.7% to $94,825 in FY2025. CKX does not conduct exploration, drilling, or production activities. The company holds land across several Louisiana parishes, including Beauregard, Calcasieu, Jefferson Davis, Cameron, Natchitoches, Rapides, and Allen, with 715 total acres tracked across active segments as of the FY2025 10-K. The company operates with two part-time employees, its President, W. Gray Stream, and Chief Financial Officer, Scott Stepp. The board initiated a formal strategic alternatives process in August 2023.

Revenue model

Royalty and lease income from oil and gas rights, surface rights lease revenue, and transactional timber sales. No exploration or production activities. Revenue is passive, derived from third-party use of owned land.

Products and services

Oil and gas royalty income, surface rights leases, timber sales. Segments as described in FY2025 10-K: oil and gas, timber, and surface.

Customers and end markets

Third parties who lease surface rights and oil and gas rights on CKX-owned Louisiana land. Timber purchasers. No specific customer names or concentration data disclosed in the filing excerpts.

Value-chain role

Passive landowner and royalty collector. Does not conduct exploration, drilling, production, or timber harvesting directly. Relies on third parties for all operational activities on its land.

Geographic exposure

Exclusively Louisiana, United States. Land held in Beauregard, Calcasieu, Allen, Jefferson Davis, Natchitoches, Cameron, and Rapides parishes as of the FY2025 10-K filing.

Source: SEC 10-K, filed 2026-03-31

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