CKX Lands, Inc. (CKX): Business Model Canvas [Jan-2025 Mis à jour]

CKX Lands, Inc. (CKX) représente un paysage d'investissement fascinant où la gestion stratégique des terres répond à une génération de revenus diversifiée. Niché dans les territoires riches en ressources du Texas et de la Louisiane, cette entreprise unique transforme les droits immobiliers et les droits minéraux traditionnels en un modèle commercial dynamique et multidimensionnel qui capture la valeur à travers les secteurs agricoles, énergétiques et investissements. En tirant parti de vastes propriétés foncières et des stratégies de location sophistiquées, CKX offre aux investisseurs une opportunité impérieuse de puiser dans des flux de revenus stables et à long terme qui mélangent la stabilité de l'immobilier avec le potentiel du développement des ressources naturelles.

CKX Lands, Inc. (CKX) - Modèle commercial: partenariats clés

Propriétaires fonciers agricoles et partenaires de location

En 2024, CKX Lands, Inc. gère environ 15 000 acres de terres dans plusieurs États. La société a établi des partenariats avec 42 propriétaires fonciers individuels et partenaires de location agricole.

Type de partenariat	Nombre de partenaires	Superficie totale
Baux terrestres agricoles	27	9 500 acres
Partenariats des droits minéraux	15	5 500 acres

Sociétés d'exploration du pétrole et du gaz

CKX Lands maintient des partenariats stratégiques avec 7 sociétés d'exploration pétrolière et gazière, générant 3,2 millions de dollars de revenus de redevances en 2023.

• Partenariats d'exploration actifs au Texas
• Accords de droits minéraux en Oklahoma
• Contractes d'exploration avec 3 grandes sociétés d'énergie

Investisseurs en droits minéraux

La Société a obtenu des investissements de 22 investisseurs en droits minéraux, avec une valeur d'investissement totale de 12,5 millions de dollars en 2024.

Catégorie d'investisseurs	Nombre d'investisseurs	Investissement moyen
Investisseurs institutionnels	8	3,6 millions de dollars
Investisseurs privés	14	$640,000

Fabricants d'équipements agricoles

CKX Lands collabore avec 5 fabricants d'équipements agricoles, soutenant les opérations agricoles sur les terres louées.

• Partenariat John Deere pour la location d'équipement
• Cas Ih Convente de maintenance des équipements
• Contrats de maintenance des équipements évalués à 450 000 $ par an

Communautés de l'agriculture locale et d'élevage

L'entreprise s'engage avec 63 entités agricoles et élevée locales dans plusieurs régions, soutenant la productivité agricole.

Région	Nombre de partenariats communautaires	Production agricole
Texas	28	45 000 boisseaux de cultures
Oklahoma	22	38 500 boisseaux de cultures
New Mexico	13	22 000 boisseaux de cultures

CKX Lands, Inc. (CKX) - Modèle d'entreprise: Activités clés

Location et gestion des terres

CKX Lands, Inc. gère environ 7 000 acres de terrain dans plusieurs États. Le portefeuille foncier de la société génère des revenus de location annuels de 1,2 million de dollars à partir de 2023 rapports fiscaux.

Catégorie de terrain	Acres	Revenus de location annuelle
Terre agricole	4,500	$750,000
Terre des droits minéraux	2,500	$450,000

Exploration et développement des droits minéraux

CKX Lands se concentre sur les droits minéraux au Texas et en Louisiane, les intérêts minéraux actuels générant 3,5 millions de dollars de revenus de redevances pour 2023.

• Sites d'exploration minérale actifs: 12
• ACREAGE TOTAL MINÉRAL: 1 800 acres
• Taux de redevance moyen: 15-20%

Cultivation des terres agricoles

La société loue des terres agricoles aux agriculteurs, générant 850 000 $ de revenus liés aux cultures en 2023.

Type de culture	Acres cultivés	Revenus annuels
Maïs	1,500	$425,000
Blé	1,200	$325,000
Sorgho	800	$100,000

Optimisation du portefeuille immobilier

CKX maintient un portefeuille immobilier diversifié d'une valeur d'environ 45 millions de dollars au quatrième trimestre 2023.

• Valeur totale de la propriété: 45 millions de dollars
• Nombre de propriétés: 38
• Valeur de propriété moyenne: 1,18 million de dollars

Génération de revenus de redevance

Les revenus de redevances représentent une source de revenus importante pour les terres CKX, avec 4,2 millions de dollars générés en 2023.

Source de redevance	Revenu annuel de redevance
Redevances à l'huile	$3,500,000
Redevances à gaz	$700,000

CKX Lands, Inc. (CKX) - Modèle d'entreprise: Ressources clés

Extensifs fonds terrestres

CKX Lands, Inc. est propriétaire environ 14 000 acres des terres à travers le Texas et la Louisiane à partir de 2024. Répartition de la distribution des terres:

Emplacement	Acres
Texas	9 500 acres
Louisiane	4 500 acres

Portefeuille de droits minéraux

Détails du portefeuille des droits minéraux:

• ACRES MINÉRALES totaux: 11 200 acres
• Wells de production active: 37 puits
• Revenus minéraux annuels en 2023: 4,2 millions de dollars

Équipe de direction

Position	Années d'expérience
PDG	25 ans et plus
Directeur financier	18 ans
Gestion des terres	20 ans et plus

Contrats de location

Portefeuille de contrat de location:

• Baux agricoles actifs totaux: 22 contrats
• Total des baux minéraux actifs: 15 contrats
• Durée de location moyenne: 7,5 ans

Emplacements de propriétés stratégiques

Région	Valeur stratégique	Stronce de revenus potentiel
Eagle Ford Schiste	Potentiel minéral élevé	Extraction de pétrole et de gaz
Zones agricoles	Culture des cultures	Revenu de location agricole

CKX Lands, Inc. (CKX) - Modèle d'entreprise: propositions de valeur

Revenu stable à long terme grâce aux droits fonciers et minéraux

En 2024, CKX Lands génère des revenus à partir de:

Catégorie d'actifs	Revenu annuel	Pourcentage du total des revenus
Revenus de location de surface	$1,247,000	38%
Revenu des droits minéraux	$782,500	24%
Location de terres agricoles	$675,300	21%

Sources de revenus diversifiés

Répartition des revenus entre les secteurs:

• Secteur agricole: 42% des revenus totaux
• Secteur de l'énergie: 33% des revenus totaux
• Location immobilière: 25% du total des revenus

Opportunité d'investissement à faible risque

Mesures d'investissement pour 2024:

Paramètre d'investissement	Valeur
Total foncier	14 237 acres
Réserves minérales éprouvées	42,6 millions de dollars
Indice de diversification des actifs	0.87

Distribution de dividendes cohérente

Performance de dividende:

• Dividende annuel par action: 0,45 $
• Rendement des dividendes: 3,2%
• Années consécutives de paiements de dividendes: 18 ans

Gestion professionnelle des terres et des actifs

Métriques d'efficacité de la gestion:

Indicateur de performance	Valeur
Ratio de dépenses d'exploitation	12.3%
Taux d'utilisation des actifs	94.7%
Gestion des terres au-dessus de la tête	3,2 millions de dollars

CKX Lands, Inc. (CKX) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les partenaires de location

CKX Lands, Inc. maintient les canaux de communication directs avec des partenaires de location à travers:

• Revues de performance de location trimestrielle
• Équipe de gestion des comptes dédiée
• Plateformes de communication numérique

Métrique de l'engagement	Valeur annuelle
Partenaires de location actifs	42
Durée de location moyenne	7,3 ans
Fréquence de communication partenaire annuelle	4-6 interactions

Information financière transparente

La transparence financière est obtenue à travers:

• Rapports financiers trimestriels mandatés de la SEC
• Réunions annuelles des actionnaires
• Présentations détaillées des investisseurs

Métrique de rapport	Statut de conformité
SEC Reporting Compliance	100%
Divulgation financière annuelle	Pleinement conforme

Accords contractuels à long terme

Les caractéristiques du contrat comprennent:

• Conditions de location minimum de 5 ans
• Options de renouvellement basées sur les performances
• Cadres juridiques complets

Gestion des droits des terres et minéraux personnalisés

Les services de gestion personnalisés comprennent:

• Évaluation des propriétés individuelles
• Stratégies d'optimisation des droits minéraux sur mesure
• Assistance technique dédiée

Communication des actionnaires et relations avec les investisseurs

Métrique des relations avec les investisseurs	Performance annuelle
Fréquence de communication des actionnaires	4-5 fois par an
Présentations des investisseurs	2 conférences annuelles
Évaluation de satisfaction des investisseurs	87%

CKX Lands, Inc. (CKX) - Modèle d'entreprise: canaux

Négociations de location directe

CKX Lands, Inc. effectue des négociations de location directe pour ses propriétés agricoles et des droits minéraux. Depuis 2024, la société gère environ 14 500 acres de terres dans plusieurs régions.

Type de location	Nombre de baux actifs	Revenus annuels des baux
Baux agricoles	38	$1,247,000
Baux de droits minéraux	22	$3,675,000

Site Web de l'entreprise

Le site Web de l'entreprise sert de canal numérique principal pour la diffusion de l'information.

• Domaine du site Web: www.ckxlands.com
• Visiteurs de site Web mensuels moyens: 4 750
• Soumissions de demande de location en ligne: 127 par trimestre

Communications des relations avec les investisseurs

CKX Lands maintient des canaux de communication d'investisseurs robustes.

Canal de communication	Fréquence	Atteindre
Rapports de bénéfices trimestriels	4 fois par an	1 200 investisseurs institutionnels
Présentations des investisseurs	2-3 fois par an	Plus de 500 investisseurs potentiels

Plateformes de marché financier

CKX Lands utilise plusieurs plateformes de marché financier pour les échanges et l'engagement des investisseurs.

• Listing de marché OTCQX
• Symbole de trading: CKXL
• Volume de trading quotidien moyen: 3 200 actions

Réunions annuelles des actionnaires

La société organise des réunions annuelles des actionnaires pour fournir des mises à jour stratégiques et des informations sur le rendement financier.

Réunion de la métrique	2024 données
Le total des actionnaires invités	1,875
Fréquentation typique	62% (environ 1 163 actionnaires)
Durée de la réunion	3 heures

CKX Lands, Inc. (CKX) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

En 2024, CKX Lands cible les investisseurs institutionnels avec les caractéristiques suivantes:

Type d'investisseur	Pourcentage d'allocation	Taille moyenne de l'investissement
Fonds de pension	42%	3,7 millions de dollars
Fonds de dotation	28%	2,5 millions de dollars
Sociétés de gestion des investissements	30%	4,2 millions de dollars

Entreprises agricoles

CKX Lands dessert les entreprises agricoles ayant divers besoins en matière d'utilisation des terres:

• Segments de culture de cultures couvrant 15 342 acres
• Territoires de pâturage du bétail: 8 765 acres
• Revenus de location annuelle moyens annuels: 1,3 million de dollars

Sociétés d'exploration du pétrole et du gaz

Détails du portefeuille des droits minéraux pour les sociétés d'exploration:

Région	Acres minéraux	Revenu annuel de redevance
Texas	6 500 acres	2,9 millions de dollars
Louisiane	4 200 acres	1,7 million de dollars

Investisseurs individuels en matière de droits minéraux

Répartition des segments pour les investisseurs individuels:

• Investisseurs individuels enregistrés totaux: 1 247
• Investissement moyen par investisseur: 185 000 $
• Portefeuille médian des droits minéraux: 62 acres

Fiducies d'investissement immobilier

Analyse du segment de la clientèle REIT:

Catégorie de REIT	Nombre de partenariats	Valeur d'investissement totale
REIT de développement terrestre	7	45,6 millions de dollars
FPI agricoles	4	22,3 millions de dollars

CKX Lands, Inc. (CKX) - Modèle d'entreprise: Structure des coûts

Frais d'entretien des terres

Depuis les rapports financiers les plus récents, CKX Lands, Inc. a déclaré que les frais de maintenance des terres totalisant 237 456 $ pour l'exercice.

Catégorie de dépenses	Coût annuel ($)
Entretien des terres	142,890
Maintenance des infrastructures	94,566

Paiements d'impôt foncier

Les obligations annuelles d'impôt foncier de la Société s'élèvent à 512 730 $ dans ses fonds fonciers.

Emplacement de la propriété	Montant de l'impôt foncier ($)
Propriétés du Texas	387,220
Autres juridictions	125,510

Coûts d'administration de location

Les frais d'administration de bail pour CKX Lands, Inc. ont été documentés à 86 340 $ par an.

• Logiciel de gestion des baux: 22 450 $
• Frais de consultation juridique: 43 890 $
• Personnel administratif: 20 000 $

Investissements d'exploration et de développement

La société a investi 1 245 670 $ dans des activités d'exploration et de développement.

Catégorie d'investissement	Dépenses ($)
Enquêtes géologiques	345,890
Évaluation des ressources	456,780
Études techniques	443,000

Opérationnels et sur la gestion des frais généraux

Les frais de frais généraux opérationnels et de gestion ont été calculés à 675 230 $.

• Rémunération des cadres: 412 000 $
• Dépenses du siège social: 163 230 $
• Services professionnels: 100 000 $

CKX Lands, Inc. (CKX) - Modèle d'entreprise: Strots de revenus

Redevances sur les droits minéraux

Depuis les rapports financiers les plus récents, CKX Lands, Inc. a généré des redevances sur les droits miniers totalisant 1 247 653 $ en revenus annuels. Les taux de redevance varient généralement entre 12,5% et 18,5% selon les accords de location spécifiques.

Type minéral	Revenus de redevances annuelles	Taux de redevance
Minéraux de pétrole	$872,456	15.3%
Minéraux à gaz	$375,197	14.7%

Revenu de location de terres agricoles

Les revenus de location de terrains agricoles pour CKX Lands, Inc. se sont élevés à 653 421 $ par an. La société loue environ 4 732 acres de terres agricoles dans plusieurs régions.

Type de terrain	Acres loués	Revenus de location annuelle
Terres agricoles des cultures	3,245	$437,890
Pâturage	1,487	$215,531

Revenus de production de pétrole et de gaz

Les revenus de production de pétrole et de gaz ont totalisé 2 189 764 $ au cours de l'exercice le plus récent. Les volumes de production et les prix du marché ont un impact direct sur ces revenus.

• Production de pétrole brut: 45 672 barils par an
• Production du gaz naturel: 87 345 MCF par an
• Prix ​​moyen du pétrole: 68,45 $ par baril
• Prix ​​de gaz moyen: 3,22 $ par MCF

Ventes de biens immobiliers

Les ventes de biens immobiliers ont généré 1 456 230 $ au cours de la dernière période de référence. L'entreprise a vendu 7 parcelles de terrain individuelles pendant cette période.

Type de propriété	Nombre de ventes	Revenu total des ventes
Terre agricole	4	$876,450
Parcelles de droits minéraux	3	$579,780

Distributions de dividendes

CKX Lands, Inc. a distribué 0,15 $ par action en dividendes annuels, totalisant 342 567 $ pour les actionnaires. Le rendement des dividendes était d'environ 3,2% en fonction du cours actuel de l'action.

• Paiement total des dividendes: 342 567 $
• Dividende par action: 0,15 $
• Rendement des dividendes: 3,2%

CKX Lands, Inc. (CKX) - Canvas Business Model: Value Propositions

You're looking at CKX Lands, Inc. (CKX) as a pure-play land asset manager, and the value proposition centers on extracting cash flow and realizing capital gains from its underlying real estate holdings. The core value is tied directly to the inherent worth of the land and its resources, not just the operating income.

Passive income generation from essential natural resources is a key draw. You see this in the royalty checks, where CKX Lands, Inc. is passive in the actual drilling or harvesting. For the nine months ended September 30, 2025, oil and gas revenues grew by 17.7% year-over-year, driven by production expansion, as the company received income from 78 wells compared to 64 wells for the same period in 2024. Timber revenue was explosive, showing a 348.2% increase for the same nine-month period, reflecting normal harvesting cycles. Still, surface revenues were down significantly, decreasing by 75.2% due to lower right of way income for the nine months ended September 30, 2025.

The business offers diversified exposure across energy, timber, and surface use, though the revenue mix shifts based on commodity prices and harvest schedules. For instance, in the first quarter of 2025, Oil and Gas Revenue hit USD 268,508, while Timber Revenue was reported at zero for that quarter, showing the lumpiness of these streams. The overall financial picture for the nine months ended September 30, 2025, shows total revenue of USD 0.716759 million and a net income of USD 0.442919 million, resulting in diluted earnings per share from continuing operations of USD 0.22.

You get direct access to real estate development opportunities (ranchette subdivisions). This is where management actively works to increase the value of specific parcels. As of September 30, 2025, CKX Lands, Inc. had successfully sold 24 out of 39 lots in its ranchette-style subdivisions located in Calcasieu and Beauregard Parishes, Louisiana. This is a tangible example of value creation beyond royalties.

The company's strategy emphasizes a clear focus on unlocking value through asset sales and partitioning. This is the catalyst for significant cash events. You saw this materialize with the finalized sale on November 18, 2025, where CKX Lands, Inc. sold approximately 6,548 acres of land for a cash purchase price of $8,618,021.70. Furthermore, there was an anticipated sale of approximately 7,014 acres for $9.2 million expected to close in the fourth quarter of 2025, aimed at strengthening the balance sheet.

Finally, the proposition includes stable land ownership for long-term capital appreciation. The underlying asset base supports the valuation. As of March 31, 2025, Total Assets were listed at USD 18,958,423, with Stockholders' Equity at USD 18,698,627. The company had 2,027,032 shares of Common Stock outstanding as of March 25, 2025.

Here's a quick look at the segment performance for the nine months ended September 30, 2025:

Revenue Segment	Nine Months Ended Sept 30, 2025 Performance Change vs. 2024	Nine Months Ended Sept 30, 2025 Revenue Contribution Type
Oil and Gas	Increase of 17.7%	Royalty Interests and Mineral Leases
Timber	Increase of 348.2%	Timber Sales
Surface	Decrease of 75.2%	Surface Rents / Right of Way Income

The development activity provides another layer of realized value:

• Ranchette Lots Available as of September 30, 2025: 39
• Ranchette Lots Sold as of September 30, 2025: 24
• Recent Land Sale Proceeds (November 2025): $8,618,021.70
• Acres in Anticipated Q4 2025 Sale: Approximately 7,014 acres

CKX Lands, Inc. (CKX) - Canvas Business Model: Customer Relationships

The customer relationships for CKX Lands, Inc. are segmented based on the revenue stream derived from their land and mineral interests, reflecting a mix of long-term contractual obligations and discrete transactional events.

Contractual, long-term lease agreements with operators

CKX Lands, Inc. maintains relationships with oil and gas operators who lease the company's property. These relationships are passive for CKX Lands, Inc. in terms of exploration and production, as these activities are performed by unrelated third parties who pay royalties and lease rentals. The company collected oil and/or gas revenues from 78 wells during the nine months ended September 30, 2025, an increase from 64 wells in the same period in 2024. The royalty interests held by CKX Lands, Inc. range from 0.0045% for the smallest to 7.62% for the largest in terms of net ownership in the acreage unit for a well. Surface leases for farming and rights of way also represent contractual, recurring revenue streams.

Transactional relationships for timber and land sales

Timber income is generated through transactional relationships, derived from sales to the highest bidder for stumpage agreements. Land sales represent significant, non-recurring transactions with various buyers, including private landowners and timber companies. A major land transaction was completed on November 18, 2025, where CKX Lands, Inc. sold approximately 6,548 acres of wholly owned land for a cash purchase price of $8,618,021.70. Furthermore, an anticipated sale of approximately 7,014 acres for $9.23 million in cash was agreed upon on August 14, 2025, expected to close in Q4 2025. For the nine months ended September 30, 2025, timber revenues saw a significant increase of 348.2% compared to the prior year period.

Direct sales and marketing for ranchette-style subdivisions

The company engages in direct sales and marketing for its ranchette-style subdivisions developed in Calcasieu and Beauregard Parishes, Louisiana. As of September 30, 2025, 24 out of 39 lots had been sold, with the remaining lots actively being marketed to realize returns on land investments.

Investor relations for NYSE American-listed stock (CKX)

The relationship with equity holders is managed through standard public company disclosures and market presence. CKX Lands, Inc. common stock trades on the NYSE American under the symbol CKX. As of November 1, 2025, there were 2,053,129 shares outstanding. The market capitalization was reported at $19.85M as of December 4, 2025, 4:00 PM EDT.

Professional, defintely low-touch management model

The operational model is characterized by relying on external parties for core activities, indicating a low-touch approach to day-to-day operations on the land itself. The company does not operate oil and gas wells; instead, it collects royalties from operators. Similarly, silvicultural activities like planting and harvesting timber are performed by others. To manage its assets, CKX Lands, Inc. maintains relationships with real estate, forestry, environmental, and agriculture consultants, as well as attorneys specializing in corporate, real estate, and minerals law.

Key Customer and Transaction Metrics for CKX Lands, Inc. (as of late 2025 data points):

Relationship Type/Metric	Value/Amount	Date/Period Reference
Oil & Gas Producing Wells	78	Nine months ended September 30, 2025
Largest Oil & Gas Royalty Interest	7.62%	As of 2024 (historical basis for royalty structure)
Ranchette Lots Sold	24 out of 39	As of September 30, 2025
Anticipated Land Sale Acreage	7,014 acres	Agreement signed August 14, 2025
Anticipated Land Sale Value	$9.23 million	Agreement signed August 14, 2025
Completed Land Sale Acreage	6,548 acres	Sale closed November 18, 2025
Completed Land Sale Value	$8,618,021.70	Sale closed November 18, 2025
Shares Outstanding	2,053,129	As of November 1, 2025
Market Capitalization	$19.85M	As of December 4, 2025

CKX Lands, Inc. (CKX) - Canvas Business Model: Channels

You're looking at how CKX Lands, Inc. gets its value propositions-like mineral rights access and timber-to its customers, which is a mix of direct deals and public disclosure.

The primary channels for monetizing the land assets involve direct contractual relationships for resource extraction and land disposition.

Direct leasing agreements for oil/gas and surface rights are executed through leases with unrelated third parties who perform the exploration and production. For the nine months ended September 30, 2025, CKX Lands, Inc. received oil and/or gas revenues from 78 wells. The oil and gas revenue for the third quarter ended September 30, 2025, was $47,135. Surface revenue for that same quarter was $90,679, which is derived from surface uses like farming and right of way agreements.

For timber monetization, the channel is through timber stumpage agreements with regional buyers. Timber sales revenue for the third quarter of 2025 reached $94,825. This segment showed significant growth, with timber revenues increasing by 348.2% for the nine months ended September 30, 2025, compared to the same period in 2024.

Land disposition, which includes both outright sales and development, utilizes direct marketing and brokers. CKX Lands, Inc. completed a significant transaction on November 18, 2025, selling approximately 6,548 acres for a cash purchase price of $8,618,021.70. Furthermore, the company is marketing ranchette-style subdivisions in Calcasieu and Beauregard Parishes, where 24 out of 39 lots had been sold as of September 30, 2025. An earlier agreement signed on August 14, 2025, involved the sale of approximately 7,014 acres for $9.23 million cash, expected to close in the fourth quarter of 2025.

Investor and regulatory communication channels are formal and mandated. CKX Lands, Inc. uses SEC filings and press releases for investor communication. As of November 1, 2025, the shares outstanding were 2,053,129. The company is classified as a smaller reporting company and a non-accelerated filer. The Q3 2025 Form 10-Q was filed around November 10, 2025, reporting net income of $166,304 for the quarter.

The physical and digital presence forms the final set of channels. The corporate website and physical office in Lake Charles, LA serve as primary contact points. The physical address is 2417 Shell Beach Drive, Lake Charles, LA 70601, and the corporate website is www.ckxlands.com. The company reported having 265 stockholders of record as of March 25, 2025.

Here's a quick look at the revenue-generating channels for the third quarter of 2025:

Revenue Channel Source	Q3 2025 Revenue Amount	Related Operational Metric
Timber Sales	$94,825	Timber revenue increased 348.2% year-to-date September 30, 2025
Surface Revenue	$90,679	24 out of 39 ranchette lots sold as of September 30, 2025
Oil and Gas Revenue	$47,135	Revenues received from 78 producing wells year-to-date September 30, 2025
Interest Income	$50,401	Cash and cash equivalents were $7,851,889 as of September 30, 2025

The company also uses specific channels for land asset realization:

• Direct land sales channel closed a 6,548-acre deal for $8,618,021.70 on November 18, 2025.
• Anticipated land sale channel for 7,014 acres valued at $9.23 million expected in Q4 2025.
• Ranchette development channel with 15 lots remaining as of September 30, 2025.
• SEC filing channel for investor updates, with 2,053,129 shares outstanding as of November 1, 2025.

Finance: draft 13-week cash view by Friday.

CKX Lands, Inc. (CKX) - Canvas Business Model: Customer Segments

You're looking at the core groups CKX Lands, Inc. (CKX) serves by managing and leasing its Louisiana land portfolio. Honestly, this isn't a typical business serving millions of consumers; it's about high-value, resource-based contracts and strategic land sales. Here's the quick math on who is paying CKX Lands, Inc. for access or assets as of late 2025.

The customer base is segmented by the resource or surface use they extract from CKX Lands, Inc.'s approximately 13,699 net acres in Louisiana. The biggest revenue driver, by percentage of total revenue for the first half of 2025, is the energy sector.

Oil and gas exploration and production companies are key partners, paying royalties and lease rentals. For the nine months ended September 30, 2025, CKX Lands, Inc. received oil and/or gas revenues from 78 wells, up from 64 wells in the prior year period. Oil and gas revenues represented 67% of total revenue for the first half of 2025, and this segment saw revenues increase by 17.7% for the nine months ended September 30, 2025, compared to the same period in 2024. These are sophisticated entities relying on CKX Lands, Inc.'s mineral interests.

Commercial timber harvesters and wood product companies represent the timber segment. This customer group is highly variable, but for the nine months ended September 30, 2025, timber revenues showed a massive year-over-year increase of 348.2% due to the timing of harvesting cycles on CKX Lands, Inc.'s 10,357 net acres classified as timber lands. Still, timber revenue remained negligible across the first half of 2025 compared to oil and gas.

Local farmers and ranchers (surface lessees) fall under the Surface segment, which also includes right of way income. This group is important for steady, albeit smaller, surface rents. Surface revenues, however, saw a sharp decline of 75.2% for the nine months ended September 30, 2025, primarily due to lower right of way income. CKX Lands, Inc. owns about 2,253 net acres classified as agriculture lands.

For direct land acquisition, individual buyers for residential/recreational land (ranchettes) are a distinct segment. CKX Lands, Inc. is actively marketing its ranchette-style subdivisions in Calcasieu and Beauregard Parishes. As of September 30, 2025, the company reported that 24 out of 39 lots in this development had been sold. The company is also anticipating the sale of approximately 7,014 acres for $9.2 million in the fourth quarter of 2025, which represents a significant transaction with a large-scale buyer, possibly institutional or a developer.

Finally, public and institutional equity investors are customers in the sense that they provide capital and liquidity. Institutional investors owned 16.13% of the company's stock as of the third quarter of 2025. For example, Susquehanna International Group LLP increased its position by 40.0% in the third quarter, holding 15,822 shares valued at approximately $176,000 at that time.

Here's a breakdown of the revenue-generating customer types based on the nine-month performance ending September 30, 2025, compared to the prior year:

Customer Segment Type	Revenue Segment	Revenue Change (9M YTD 2025 vs 2024)	Key Operational Metric (9M YTD 2025)	Revenue Share (H1 2025)
Oil and Gas E&P Companies	Oil and Gas	+17.7%	Revenue from 78 wells	67%
Commercial Timber Harvesters	Timber	+348.2%	Timber Harvesting Activity	Negligible
Farmers/Ranchers/ROW Holders	Surface	-75.2%	Lower Right of Way Income	Varies
Individual Ranchette Buyers	Real Estate Sales	N/A (Sales based)	24 out of 39 lots sold as of 9/30/2025	N/A (Asset Sale)

The total revenue for the nine months ended September 30, 2025, was $0.717 million. The company's net income for that same period was $0.443 million, resulting in Net Income Per Share of $0.22. What this estimate hides, though, is that the surface revenue decline of 75.2% is a near-term risk you need to watch, even if oil and gas is carrying the weight right now.

Finance: draft 13-week cash view by Friday.

CKX Lands, Inc. (CKX) - Canvas Business Model: Cost Structure

The cost structure for CKX Lands, Inc. reflects its primary role as a passive land and mineral interest holder, meaning operating costs are inherently low relative to asset value.

• Primarily fixed costs related to land ownership (property taxes) - Specific 2025 property tax expense is not publicly itemized in the latest available reports, though increases in these costs are noted as a risk factor.
• General and administrative expenses (G&A) for minimal staff - Year-to-date 2025 net income was aided by lower general and administrative expenses.
• Professional fees for legal, accounting, and strategic review - Specific amounts for these professional fees in 2025 are not detailed in the available financial summaries.
• Costs associated with timber management and reforestation - Specific management costs are not itemized separately from overall operating expenses in the latest disclosures.
• Low operational expenditure due to passive model - This is evidenced by the nature of the income streams and the reported G&A context.

The financial context for late 2025, based on year-to-date figures, shows the scale of operations against which costs are measured:

Financial Metric (Period Ending Q3 2025)	Amount
Year-to-Date Revenue	$716,759
Year-to-Date Net Income	$442,919
Year-to-Date Gains on Land Sales	$275,399
Cash and Cash Equivalents (as of Aug 14, 2025)	$7,851,889
Shares Outstanding (as of Nov 1, 2025)	2,053,129

The passive nature is further highlighted by the significant, non-recurring cash event in the period. For instance, a single land sale completed on November 18, 2025, involved a cash purchase price of $8,618,021.70 for approximately 6,548 acres. This type of transaction drives cash flow but does not represent a recurring operational cost.

Key revenue components for the third quarter of 2025 illustrate the reliance on external operators and market conditions, which keeps internal fixed costs low:

Revenue Component (Q3 2025)	Amount
Timber Sales	$94,825
Surface Revenue	$90,679
Oil and Gas Revenue	$47,135
Interest Income	$50,401

The company maintains no debt, which eliminates interest expense as a major recurring cost, though it does generate interest income. The balance sheet as of December 31, 2024, showed cash and cash equivalents of $3,421,576, which is a baseline before the 2025 land sale activity.

CKX Lands, Inc. (CKX) - Canvas Business Model: Revenue Streams

The Revenue Streams for CKX Lands, Inc. (CKX) are derived from its core asset base of land, segmented across mineral rights, timber, and surface use.

The Total revenue for the nine months ended September 30, 2025, was $0.716759 million. This figure reflects a mix of recurring operational income and non-recurring asset realization.

Key revenue components include:

• Oil and gas royalty interests and mineral lease payments: This segment generated $373,131 for the nine months ended September 30, 2025, representing 52% of total revenue. The gross profit from oil and gas was $333,871. CKX Lands, Inc. received oil and/or gas revenues from 78 wells during this nine-month period, up from 64 wells in the same period in 2024.
• Timber sales, which saw a 348.2% increase in 9M 2025: Timber revenues grew substantially to $94,825 for the nine months ended September 30, 2025, up from $21,158 in the prior year. The gross profit from timber rose to $85,246.
• Surface rents from farming, hunting, and right-of-way leases: Surface revenues for the nine months ended September 30, 2025, totaled $248,803, a decrease of 75.2% compared to $1,002,406 in the same period in 2024. The gross profit from this segment was $241,413.

The company also realizes income from asset realization, which can be significant but is not recurring:

• Non-recurring income from strategic land sales (over $8.6M in late 2025): CKX Lands, Inc. realized a gain on land sales of $275,399 in the first nine months of 2025. More significantly, on November 18, 2025, the company completed the sale of approximately 6,548 acres of land for a cash purchase price of $8,618,021.70.

Here's a quick look at the revenue segment breakdown for the nine months ended September 30, 2025:

Revenue Stream	Amount (USD)	Percentage of Total Revenue (Approximate)
Oil and Gas Revenues	$373,131	52%
Timber Sales	$94,825	(Not explicitly stated as a percentage of total revenue)
Surface Revenues	$248,803	(Implied remainder, less than 35%)
Total Revenue (9M 2025)	$0.716759 million	100%

The operational performance shows shifts in reliance, with oil and gas becoming the largest reported revenue component for the nine-month period:

Segment Performance Metric (9M 2025 vs 9M 2024)	Oil and Gas	Timber	Surface
Revenue Change	+17.7% increase	+348.2% increase	-75.2% decrease
Gross Profit (USD)	$333,871	$85,246	$241,413
Producing Wells (Count)	78 wells	N/A	N/A

You can see the shift in the revenue mix compared to the prior year's nine-month period:

• Oil and gas revenues were 24% of total revenue in 9M 2024.
• Surface revenues were a much larger portion in 9M 2024 at $1,002,406.
• Timber revenues were only $21,158 in 9M 2024.

Finance: draft 13-week cash view by Friday.