CKX Lands, Inc. (CKX): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A CKX Lands, Inc. (CKX) representa um cenário de investimento fascinante, onde a gestão estratégica da terra encontra diversas gerações de receita. Aninhada nos territórios ricos em recursos do Texas e da Louisiana, esta empresa única transforma os direitos imobiliários e minerais tradicionais em um modelo de negócios dinâmico e multidimensional que captura valor em setores agrícola, de energia e investimento. Ao alavancar extensas propriedades terrestres e estratégias de arrendamento sofisticadas, a CKX oferece aos investidores uma oportunidade atraente de explorar fluxos de renda estáveis ​​e de longo prazo que misturam a estabilidade do setor imobiliário com o potencial do desenvolvimento de recursos naturais.

CKX Lands, Inc. (CKX) - Modelo de negócios: Parcerias -chave

Proprietários agrícolas e parceiros de arrendamento

A partir de 2024, a CKX Lands, Inc. gerencia aproximadamente 15.000 acres de terra em vários estados. A Companhia estabeleceu parcerias com 42 proprietários de terras e parceiros de arrendamento agrícola individuais.

Tipo de parceria	Número de parceiros	Área total
Arrendamentos de terras agrícolas	27	9.500 acres
Parcerias de direitos minerais	15	5.500 acres

Empresas de exploração de petróleo e gás

A CKX Lands mantém parcerias estratégicas com 7 empresas de exploração de petróleo e gás, gerando US $ 3,2 milhões em receitas de royalties em 2023.

• Parcerias de exploração ativa no Texas
• Acordos de direitos minerais em Oklahoma
• Contratos de exploração com 3 grandes empresas de energia

Investidores de direitos minerais

A Companhia garantiu investimentos de 22 investidores em direitos minerais, com valor total de investimento de US $ 12,5 milhões a partir de 2024.

Categoria de investidores	Número de investidores	Investimento médio
Investidores institucionais	8	US $ 3,6 milhões
Investidores particulares	14	$640,000

Fabricantes de equipamentos agrícolas

A CKX Lands colabora com 5 fabricantes de equipamentos agrícolas, apoiando operações agrícolas em terras arrendadas.

• John Deere Partnership for Equipment Leasing
• Acordos de manutenção de equipamentos de caso IH
• Contratos de manutenção de equipamentos avaliados em US $ 450.000 anualmente

Comunidades de agricultura e pecuária locais

A empresa se envolve com 63 entidades agrícolas e pecuária locais em várias regiões, apoiando a produtividade agrícola.

Região	Número de parcerias comunitárias	Produção agrícola
Texas	28	45.000 alqueires de culturas
Oklahoma	22	38.500 alqueires de culturas
Novo México	13	22.000 alqueires de culturas

CKX Lands, Inc. (CKX) - Modelo de negócios: Atividades -chave

Leasing e administração de terras

A CKX Lands, Inc. gerencia aproximadamente 7.000 acres de terra em vários estados. O portfólio de terras da empresa gera receita anual de leasing de US $ 1,2 milhão em relatórios fiscais de 2023.

Categoria de terra	Acres	Receita anual de arrendamento
Terras Agrícolas	4,500	$750,000
Terra dos Direitos Minerais	2,500	$450,000

Exploração e desenvolvimento de direitos minerais

A CKX Lands se concentra nos direitos minerais no Texas e na Louisiana, com os atuais interesses minerais gerando US $ 3,5 milhões em renda de royalties em 2023.

• Sites de exploração mineral ativa: 12
• Área total de direitos minerais: 1.800 acres
• Taxa média de royalties: 15-20%

Cultivo da terra agrícola

A empresa aluga terras agrícolas para os agricultores, gerando US $ 850.000 em receitas relacionadas às culturas em 2023.

Tipo de colheita	Acres cultivados	Receita anual
Milho	1,500	$425,000
Trigo	1,200	$325,000
Sorgo	800	$100,000

Otimização do portfólio imobiliário

A CKX mantém um portfólio imobiliário diversificado, avaliado em aproximadamente US $ 45 milhões a partir do quarto trimestre de 2023.

• Valor total da propriedade: US $ 45 milhões
• Número de propriedades de propriedade: 38
• Valor médio da propriedade: US $ 1,18 milhão

Geração de renda de royalties

A renda da royalties representa um fluxo de receita significativo para terras CKX, com US $ 4,2 milhões gerados em 2023.

Fonte de royalties	Renda anual de royalties
Royalties de petróleo	$3,500,000
Royalties de gás	$700,000

CKX Lands, Inc. (CKX) - Modelo de negócios: Recursos -chave

Extensas propriedades terrestres

A CKX Lands, Inc. possui Aproximadamente 14.000 acres de terras em todo o Texas e Louisiana a partir de 2024. Distribuição de terras Distribuição:

Localização	Acres
Texas	9.500 acres
Louisiana	4.500 acres

Portfólio de direitos minerais

Detalhes do portfólio de direitos minerais:

• Total Mineral Acres: 11.200 acres
• Wells de produção ativa: 37 poços
• Receita mineral anual em 2023: US $ 4,2 milhões

Equipe de gerenciamento

Posição	Anos de experiência
CEO	Mais de 25 anos
Diretor Financeiro	18 anos
Gerenciamento da terra	Mais de 20 anos

Contratos de arrendamento

Portfólio de contratos de arrendamento:

• Arrendamentos agrícolas ativos totais: 22 contratos
• Arrendamentos minerais ativos totais: 15 contratos
• Duração média do arrendamento: 7,5 anos

Locais de propriedades estratégicas

Região	Valor estratégico	Fluxo de receita potencial
Eagle Ford Shale	Alto potencial mineral	Extração de petróleo e gás
Zonas agrícolas	Cultivo de culturas	Renda de arrendamento agrícola

CKX Lands, Inc. (CKX) - Modelo de negócios: proposições de valor

Renda estável a longo prazo por meio da terra e direitos minerais

A partir de 2024, a CKX Lands gera receita de:

Categoria de ativos	Renda anual	Porcentagem da receita total
Receitas de arrendamento de superfície	$1,247,000	38%
Renda dos direitos minerais	$782,500	24%
Aluguel de terras agrícolas	$675,300	21%

Fluxos de receita diversificados

Receita de receita entre os setores:

• Setor agrícola: 42% da receita total
• Setor de energia: 33% da receita total
• Leasing imobiliário: 25% da receita total

Oportunidade de investimento de baixo risco

Métricas de investimento para 2024:

Parâmetro de investimento	Valor
TOTAL DE TERRAS	14.237 acres
Reservas minerais comprovadas	US $ 42,6 milhões
Índice de Diversificação de Ativos	0.87

Distribuição consistente de dividendos

Desempenho de dividendos:

• Dividendo anual por ação: US $ 0,45
• Rendimento de dividendos: 3,2%
• Anos consecutivos de pagamentos de dividendos: 18 anos

Gerenciamento de terras e ativos profissionais

Métricas de eficiência da gestão:

Indicador de desempenho	Valor
Razão de despesas operacionais	12.3%
Taxa de utilização de ativos	94.7%
Gerenciamento de terra Overhead	US $ 3,2 milhões

CKX Lands, Inc. (CKX) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto com parceiros de arrendamento

A CKX Lands, Inc. mantém canais de comunicação direta com parceiros de arrendamento por meio de:

• Revisões trimestrais de desempenho de arrendamento
• Equipe de gerenciamento de contas dedicada
• Plataformas de comunicação digital

Métrica de engajamento	Valor anual
Parceiros de locação ativa	42
Duração média do arrendamento	7,3 anos
Frequência anual de comunicação de parceiros	4-6 interações

Relatórios financeiros transparentes

A transparência financeira é alcançada através de:

• Sec Relatórios Financeiros trimestrais exigidos
• Reuniões anuais de acionistas
• Apresentações detalhadas dos investidores

Métrica de relatório	Status de conformidade
SEC Relatórios conformidade	100%
Divulgação financeira anual	Totalmente compatível

Acordos contratuais de longo prazo

As características do contrato incluem:

• Termos mínimos de arrendamento de 5 anos
• Opções de renovação baseadas em desempenho
• Estruturas legais abrangentes

Gerenciamento personalizado de terras e direitos minerais

Serviços de gerenciamento personalizados abrangem:

• Avaliação de propriedades individuais
• Estratégias de otimização de direitos minerais personalizados
• Suporte técnico dedicado

Comunicação dos acionistas e relações de investidores

Métrica de Relações com Investidores	Desempenho anual
Frequência de comunicação dos acionistas	4-5 vezes por ano
Apresentações de investidores	2 conferências anuais
Classificação de satisfação do investidor	87%

CKX Lands, Inc. (CKX) - Modelo de Negócios: Canais

Negociações de arrendamento direto

A CKX Lands, Inc. realiza negociações diretas de arrendamento para suas propriedades de direitos agrícolas e minerais. A partir de 2024, a empresa gerencia Aproximadamente 14.500 acres de terra em várias regiões.

Tipo de arrendamento	Número de arrendamentos ativos	Receita anual de arrendamentos
Arrendamentos agrícolas	38	$1,247,000
Arrendamentos de direitos minerais	22	$3,675,000

Site corporativo

O site corporativo serve como um canal digital primário para disseminação de informações.

• Domínio do site: www.ckxlands.com
• Visitantes médios mensais do site: 4.750
• Online Lease Inquérito Submissões: 127 por trimestre

Comunicações de Relações com Investidores

A CKX Lands mantém canais robustos de comunicação para investidores.

Canal de comunicação	Freqüência	Alcançar
Relatórios de ganhos trimestrais	4 vezes por ano	1.200 investidores institucionais
Apresentações de investidores	2-3 vezes anualmente	Mais de 500 investidores em potencial

Plataformas de mercado financeiro

A CKX Lands utiliza várias plataformas de mercado financeiro para negociação e envolvimento dos investidores.

• Listagem de mercado OTCQX
• Símbolo de negociação: CKXL
• Volume médio de negociação diária: 3.200 ações

Reuniões anuais de acionistas

A empresa realiza reuniões anuais de acionistas para fornecer atualizações estratégicas e insights de desempenho financeiro.

Métrica de reunião	2024 dados
Total de acionistas convidados	1,875
Participação típica	62% (aproximadamente 1.163 acionistas)
Duração da reunião	3 horas

CKX Lands, Inc. (CKX) - Modelo de negócios: segmentos de clientes

Investidores institucionais

A partir de 2024, a CKX Lands tem como alvo investidores institucionais com as seguintes características:

Tipo de investidor	Porcentagem de alocação	Tamanho médio de investimento
Fundos de pensão	42%	US $ 3,7 milhões
Fundos de doação	28%	US $ 2,5 milhões
Empresas de gerenciamento de investimentos	30%	US $ 4,2 milhões

Negócios agrícolas

A CKX Lands atende a empresas agrícolas com diversas necessidades de utilização de terras:

• Segmentos agrícolas de culturas cobrindo 15.342 acres
• Territórios de pastagem de gado: 8.765 acres
• Receita média anual do arrendamento de terras: US $ 1,3 milhão

Empresas de exploração de petróleo e gás

Detalhes do portfólio de direitos minerais para empresas de exploração:

Região	Acres minerais	Renda anual de royalties
Texas	6.500 acres	US $ 2,9 milhões
Louisiana	4.200 acres	US $ 1,7 milhão

Investidores de direitos minerais individuais

Redução de segmento para investidores individuais:

• Total de investidores individuais registrados: 1.247
• Investimento médio por investidor: US $ 185.000
• Portfólio de direitos minerais medianos: 62 acres

Fundos de investimento imobiliário

REIT Análise do segmento de clientes:

Categoria REIT	Número de parcerias	Valor total de investimento
REITs de desenvolvimento da terra	7	US $ 45,6 milhões
REITs agrícolas	4	US $ 22,3 milhões

CKX Lands, Inc. (CKX) - Modelo de negócios: estrutura de custos

Despesas de manutenção da terra

Até os relatórios financeiros mais recentes, a CKX Lands, Inc. relatou despesas de manutenção da terra, totalizando US $ 237.456 para o ano fiscal.

Categoria de despesa	Custo anual ($)
Levantamento da terra	142,890
Manutenção de infraestrutura	94,566

Pagamentos de imposto sobre a propriedade

As obrigações anuais do imposto sobre a propriedade da Companhia chegam a US $ 512.730 em suas propriedades.

Localização da propriedade	Valor do imposto sobre a propriedade ($)
Propriedades do Texas	387,220
Outras jurisdições	125,510

Custos de administração de arrendamento

As despesas de administração de arrendamento da CKX Lands, Inc. foram documentadas em US $ 86.340 anualmente.

• Software de gerenciamento de arrendamento: US $ 22.450
• Taxas de consulta legal: US $ 43.890
• Pessoal Administrativo: US $ 20.000

Investimentos de exploração e desenvolvimento

A empresa investiu US $ 1.245.670 em atividades de exploração e desenvolvimento.

Categoria de investimento	Despesas ($)
Pesquisas geológicas	345,890
Avaliação de recursos	456,780
Estudos técnicos	443,000

Opeuta operacional e de gerenciamento

Os custos indiretos operacionais e de gerenciamento totais foram calculados em US $ 675.230.

• Compensação de executivos: US $ 412.000
• Despesas do escritório corporativo: US $ 163.230
• Serviços profissionais: US $ 100.000

CKX Lands, Inc. (CKX) - Modelo de negócios: fluxos de receita

Royalties de direitos minerais

A partir dos relatórios financeiros mais recentes, a CKX Lands, Inc. gerou royalties de direitos minerais, totalizando US $ 1.247.653 em receita anual. As taxas de royalties normalmente variam entre 12,5% e 18,5%, dependendo de acordos específicos de arrendamento.

Tipo mineral	Receita anual de royalties	Taxa de royalties
Minerais de petróleo	$872,456	15.3%
Minerais a gás	$375,197	14.7%

Renda de arrendamento de terras agrícolas

As receitas de arrendamento de terras agrícolas da CKX Lands, Inc. totalizavam US $ 653.421 anualmente. A empresa aluga aproximadamente 4.732 acres de terras agrícolas em várias regiões.

Tipo de terra	Acres arrendados	Receita anual de arrendamento
Terras agrícolas	3,245	$437,890
Terra de pastagem	1,487	$215,531

Receita de produção de petróleo e gás

As receitas de produção de petróleo e gás totalizaram US $ 2.189.764 no ano fiscal mais recente. Os volumes de produção e os preços de mercado afetam diretamente essas receitas.

• Produção de petróleo bruto: 45.672 barris anualmente
• Produção de gás natural: 87.345 MCF anualmente
• Preço médio do petróleo: US $ 68,45 por barril
• Preço médio do gás: US $ 3,22 por MCF

Vendas imobiliárias

As vendas imobiliárias geraram US $ 1.456.230 no período mais recente do relatório. A empresa vendeu 7 parcelas de terra individuais durante esse período.

Tipo de propriedade	Número de vendas	Receita total de vendas
Terras Agrícolas	4	$876,450
Parcels de direitos minerais	3	$579,780

Distribuições de dividendos

A CKX Lands, Inc. distribuiu US $ 0,15 por ação em dividendos anuais, totalizando US $ 342.567 para os acionistas. O rendimento de dividendos foi de aproximadamente 3,2% com base no preço atual das ações.

• Pagamento total de dividendos: US $ 342.567
• Dividendo por ação: $ 0,15
• Rendimento de dividendos: 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.