Natural Resource Partners NRP

Coal, Energy

$116.04

+1.11%

Market cap: $1.5B
PE: 14.8×; 10y median 7.1×
Forward PE: n/m; not a meaningful number
Price to sales: 8.4×
EV/EBIT: 13.7×
Revenue, 12 months: $184.1M; −22% on a year ago
Net margin: 58.0%
Free cash flow yield: n/m; not a meaningful number

Natural Resource Partners trades at 14.8× trailing earnings, pricier than 95% of the last ten years. Revenue was $184.1M over the last twelve months, down 22% on a year earlier with a 58% net margin.

Charts

Financials

Income statement for NRP, by quarter
Income statement	Q3 FY23	Q4 FY23	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
	$86.4M−16%	$93.2M−4%	$76.4M−23%	$65.5M−28%	$60.3M−30%	$65.7M−30%	$60.5M−21%	$50.1M−24%	$49.9M−17%	$46.7M−29%	$39.4M−35%	$48.1M−4%
Cost of revenue	$8.4M+6%	$8.9M−1%	$5.7M−20%	$5.9M−26%	$6.8M−19%	$9.6M+9%	$6.8M+18%	$4.2M−29%	$7.7M+13%	$5.3M−45%	$6.1M−10%	$5.7M+38%
Gross profit	$78M−17%	$84.3M−4%	$70.7M−23%	$59.7M−28%	$53.5M−31%	$56.1M−34%	$53.8M−24%	$45.9M−23%	$42.3M−21%	$41.4M−26%	$33.2M−38%	$42.4M−8%
SG&A	$5.7M+26%	$9M+15%	$6.3M+8%	$5.9M+5%	$5.9M+5%	$7M−22%	$6.8M+8%	$5.6M−6%	$5.7M−4%	$5.9M−15%	$5M−26%	$5M−10%
	$67.7M−18%	$68.9M−3%	$59.7M−27%	$50.4M−32%	$42.8M−37%	$46.3M−33%	$42.9M−28%	$36.6M−27%	$32.7M−24%	$32.2M−31%	$20.6M−52%	$26.2M−28%
Interest expense	$3.8M−25%	$3.9M+8%	$3.5M+22%	$4.3M+25%	$4.2M+9%	$3.5M−10%	$2.7M−24%	$2.4M−45%	$1.8M−58%	$1.2M−67%	$973K−64%	$1.1M−56%
Net income	$63.8M−14%	$65M+3%	$56.2M−29%	$46.1M−35%	$38.6M−40%	$42.8M−34%	$40.3M−28%	$34.2M−26%	$30.9M−20%	$31M−28%	$19.6M−51%	$25.2M−26%
	$2.91−22%	$4.24+35%	$3.83+11%	$2.29−8%	$2.00−31%	$3.14−26%	$2.97−23%	$2.52+10%	$2.28+14%	$2.27−28%	$1.44−52%	$1.85−27%
	15.1M−17%	n/a	14.1M−14%	13.5M−11%	13.6M−10%	n/a	13.6M−4%	13.6M+0%	13.6M+0%	n/a	13.6M+1%	13.6M+0%

Gross profit: 20 periods, Q3 FY21 to Q2 FY26: not printed by the filing, worked out from its own lines.

EPS, diluted: 4 periods, Q4 FY12 to Q4 FY16: quarter's net income to common over its shares, to the cent. 5 periods, Q4 FY20 to Q4 FY25: quarter's net income to common over its shares, to the cent, the shares from counts implied by EPS, near the year's EPS less the nine months'.

Diluted shares: 47 periods, Q3 FY12 to Q2 FY26: not printed by the filing, worked out from its own lines.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Coal nearest Natural Resource Partners' size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
NRPNatural Resource Partners	$1.5B	14.8×	7.1×	8.4×	−22%	58.0%
ARLPAlliance Resource Partners	$3.4B	12.8×	6.5×	1.5×	−5%	12.3%
HCCWarrior MET Coal	$4.5B	20.6×	7.3×	2.7×	+37%	13.0%
CNRCore Natural Resources	$4.6B	46.3×	7.2×	1.1×	+32%	2.3%
NCNacco Industries	$260.5M	15.0×	7.2×	0.9×	+5%	6.2%
Peer median	$3.9B	17.8×	7.2×	1.3×	+18%	9.2%