NYSE : NRP
Natural Resource Partners L.P. — Financial statements
Energy · Thermal Coal · United States
Last price 115.62 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.53B
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Financial statements
Natural Resource Partners L.P. (NRP) reported revenue of 199.97M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 199.97M | 202.34M | 245.03M | 293.66M | 328.08M | 194.25M |
| Cost of Revenue | 24.76M | 23.85M | 28.04M | 32.31M | 34.90M | 27.05M |
| Gross Profit | 175.20M | 178.49M | 216.99M | 261.34M | 293.18M | 167.20M |
| Selling, General & Admin | 21.73M | 24.10M | 25.15M | 26.11M | 21.85M | 17.36M |
| Operating Expenses | 47.68M | 39.08M | 40.77M | 45.16M | 48.83M | 41.54M |
| Operating Income | 127.52M | 139.41M | 176.22M | 216.19M | 244.35M | 125.66M |
| Interest Expense | -4.96M | -7.98M | -15.55M | -14.10M | -26.27M | -38.88M |
| Earnings From Equity Investments | -16.81M | 3.06M | 18.14M | 73.40M | 59.80M | 21.87M |
| EBT Excluding Unusual Items | 105.75M | 134.49M | 178.80M | 275.48M | 277.88M | 108.66M |
| Gain (Loss) on Sale of Assets | 950.00K | 1.88M | 4.84M | 2.96M | 1.08M | 245.00K |
| Other Unusual Items | -10.46M | |||||
| Pretax Income | 106.70M | 136.37M | 183.64M | 278.44M | 268.49M | 108.90M |
| Earnings From Continuing Operations | 106.70M | 136.37M | 183.64M | 278.44M | 268.49M | 108.90M |
| Net Income to Company | 106.70M | 136.37M | 183.64M | 278.44M | 268.49M | 108.90M |
| Minority Interest in Earnings | -2.13M | -2.73M | -3.10M | -4.02M | -4.77M | -1.55M |
| Net Income | 104.56M | 133.64M | 180.55M | 274.42M | 263.72M | 107.36M |
| Preferred Dividends & Other Adjustments | 28.73M | 77.65M | 30.00M | 31.61M | ||
| Net Income to Common | 104.56M | 133.64M | 151.81M | 196.77M | 233.72M | 75.75M |
| Shares Outstanding (Basic) | 13.18M | 13.13M | 12.99M | 12.62M | 12.48M | 12.34M |
| Shares Outstanding (Diluted) | 13.33M | 13.31M | 13.65M | 16.10M | 19.65M | 22.19M |
| EPS (Basic) | 7.93 | 10.18 | 11.69 | 15.59 | 18.72 | 6.14 |
| EPS (Diluted) | 7.84 | 10.04 | 11.35 | 13.08 | 13.39 | 4.81 |
| Free Cash Flow | 159.82M | 165.86M | 248.49M | 310.97M | 266.72M | 121.80M |
| Free Cash Flow Per Share | 11.99 | 12.46 | 18.21 | 19.32 | 13.57 | 5.49 |
| Dividend Per Share | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 1.80 |
| Gross Margin | 87.62% | 88.21% | 88.56% | 89.00% | 89.36% | 86.08% |
| Operating Margin | 63.77% | 68.90% | 71.92% | 73.62% | 74.48% | 64.69% |
| Profit Margin | 52.29% | 66.05% | 61.96% | 67.01% | 71.24% | 39.00% |
| Free Cash Flow Margin | 79.93% | 81.97% | 101.42% | 105.90% | 81.30% | 62.70% |
| EBITDA | 153.47M | 154.38M | 191.84M | 235.23M | 271.33M | 149.84M |
| EBITDA Margin | 76.75% | 76.30% | 78.29% | 80.10% | 82.70% | 77.14% |
| D&A For EBITDA | 25.96M | 14.97M | 15.62M | 19.05M | 26.98M | 24.18M |
| EBIT | 127.52M | 139.41M | 176.22M | 216.19M | 244.35M | 125.66M |
| EBIT Margin | 63.77% | 68.90% | 71.92% | 73.62% | 74.48% | 64.69% |
| Revenue as Reported | 184.11M | 207.28M | 268.01M | 370.01M | 388.96M | 216.36M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 30.13M | 30.14M | 30.44M | 11.99M | 39.09M | 135.52M |
| Cash & Short-Term Investments | 30.13M | 30.14M | 30.44M | 11.99M | 39.09M | 135.52M |
| Receivables | 30.64M | 28.75M | 31.47M | 41.22M | 42.70M | 25.31M |
| Other Current Assets | 934.00K | 2.02M | 1.96M | 2.09M | 1.82M | 1.95M |
| Total Current Assets | 61.71M | 60.91M | 63.87M | 55.29M | 83.61M | 162.78M |
| Property, Plant & Equipment | 378.91M | 395.10M | 407.85M | 422.79M | 439.82M | 465.20M |
| Long-Term Investments | 277.48M | 250.24M | 257.36M | 276.55M | 306.47M | 276.00M |
| Other Intangible Assets | 8.65M | 11.91M | 12.92M | 13.68M | 14.71M | 16.13M |
| Long-Term Accounts Receivable | 26.13M | 25.69M | 25.83M | 26.32M | 29.02M | 31.62M |
| Other Long-Term Assets | 4.66M | 4.52M | 5.08M | 3.24M | 3.49M | 2.08M |
| Total Assets | 757.53M | 748.37M | 772.91M | 797.88M | 877.13M | 953.82M |
| Accounts Payable | 989.00K | 1.16M | 909.00K | 885.00K | 1.99M | 1.96M |
| Accrued Expenses | 7.19M | 10.36M | 12.42M | 13.57M | 12.90M | 11.51M |
| Current Portion of Long-Term Debt | 14.27M | 14.20M | 14.19M | 30.79M | 39.08M | 39.10M |
| Current Portion of Leases | 604.00K | |||||
| Current Unearned Revenue | 6.71M | 6.66M | 4.34M | 4.60M | 6.26M | 11.82M |
| Total Current Liabilities | 29.16M | 32.99M | 31.86M | 49.84M | 60.23M | 64.39M |
| Long-Term Debt | 13.08M | 18.88M | 127.88M | 124.27M | 129.21M | 394.44M |
| Long-Term Leases | 3.40M | 3.75M | 4.40M | 4.30M | 3.50M | |
| Long-Term Unearned Revenue | 59.74M | 58.07M | 55.81M | 38.36M | 40.18M | 50.05M |
| Other Long-Term Liabilities | 2.10M | 2.16M | 1.84M | 2.87M | 1.97M | 5.02M |
| Total Liabilities | 107.48M | 115.85M | 221.80M | 219.64M | 235.09M | 513.89M |
| Common Stock | 641.22M | 625.19M | 543.23M | 503.08M | 404.80M | 203.06M |
| Comprehensive Income & Other | -3.24M | -4.00M | -1.67M | 19.97M | 66.68M | 51.17M |
| Total Common Equity | 637.98M | 621.19M | 541.56M | 523.05M | 471.48M | 254.24M |
| Minority Interest | 12.07M | 11.33M | 9.55M | 8.01M | 5.98M | 1.79M |
| Shareholders' Equity | 650.06M | 632.52M | 551.11M | 578.24M | 642.04M | 439.93M |
| Total Liabilities & Equity | 757.53M | 748.37M | 772.91M | 797.88M | 877.13M | 953.82M |
| Total Debt | 30.75M | 37.44M | 146.47M | 159.36M | 171.78M | 433.55M |
| Net Cash (Debt) | -623.00K | -7.30M | -116.02M | -147.37M | -132.69M | -298.02M |
| Net Cash Per Share | -0.05 | -0.55 | -8.50 | -9.16 | -6.75 | -13.43 |
| Filing Date Shares Outstanding | 13.25M | 13.25M | 13.14M | 12.96M | 12.63M | 12.51M |
| Total Common Shares Outstanding | 13.25M | 13.14M | 13.05M | 12.63M | 12.51M | 12.35M |
| Working Capital | 32.55M | 27.93M | 32.01M | 5.45M | 23.39M | 98.40M |
| Book Value Per Share | 48.15 | 47.28 | 41.50 | 41.40 | 37.70 | 20.58 |
| Tangible Book Value | 629.33M | 609.28M | 528.64M | 509.37M | 456.77M | 238.11M |
| Tangible Book Value Per Share | 47.50 | 46.37 | 40.51 | 40.32 | 36.52 | 19.28 |
| Land | 24.01M | 24.01M | 24.01M | 24.01M | 24.01M | 24.01M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 104.56M | 133.64M | 180.55M | 274.42M | 263.72M | 107.36M |
| Depreciation & Amortization | 25.96M | 14.97M | 15.62M | 19.05M | 26.98M | 24.18M |
| Other Amortization | 2.27M | |||||
| Loss (Gain) From Sale of Assets | -950.00K | -1.88M | -4.84M | -2.96M | -1.08M | -245.00K |
| Loss (Gain) on Equity Investments | 16.81M | 4.78M | 20.65M | 8.08M | -14.96M | -10.60M |
| Stock-Based Compensation | 8.57M | 11.12M | 11.31M | 10.91M | 5.77M | 4.04M |
| Provision & Write-off of Bad Debts | 877.00K | 751.00K | 4.18M | 2.24M | 1.06M | 2.57M |
| Other Operating Activities | 130.00K | -615.00K | 1.59M | 5.32M | 17.64M | 1.55M |
| Change in Accounts Receivable | -4.36M | 2.31M | 7.29M | -164.00K | -18.67M | -14.41M |
| Change in Accounts Payable | 59.00K | 249.00K | 25.00K | -1.11M | 37.00K | 570.00K |
| Change in Unearned Revenue | 10.51M | 4.58M | 17.20M | -3.48M | -15.42M | 307.00K |
| Change in Other Net Operating Assets | -2.34M | -4.04M | -5.07M | -1.33M | 1.76M | 4.23M |
| Operating Cash Flow | 159.82M | 165.86M | 248.49M | 310.98M | 266.84M | 121.80M |
| Capital Expenditures | -10.00K | -118.00K | ||||
| Sale of Property, Plant & Equipment | 952.00K | 1.88M | 4.85M | 2.96M | 1.08M | 249.00K |
| Investment in Securities | -39.20M | |||||
| Other Investing Activities | 3.00M | 2.88M | 2.67M | 2.46M | 1.72M | 2.16M |
| Investing Cash Flow | -35.25M | 4.77M | 7.51M | 5.42M | 2.69M | 2.41M |
| Long-Term Debt Issued | 46.70M | 167.85M | 248.83M | 70.00M | ||
| Long-Term Debt Repaid | -155.83M | -181.03M | -262.40M | -339.40M | -39.40M | |
| Net Debt Issued (Repaid) | -74.13M | -109.13M | -13.18M | -13.56M | -269.40M | -39.40M |
| Preferred Dividends Paid | -6.40M | -22.07M | -30.26M | -15.57M | ||
| Common Dividends Paid | -40.88M | -55.31M | -70.70M | -68.51M | -33.70M | -22.19M |
| Dividends Paid | -40.88M | -55.31M | -77.10M | -90.58M | -63.95M | -37.76M |
| Other Financing Activities | -9.78M | -6.49M | -75.60M | -61.02M | -13.28M | -11.33M |
| Financing Cash Flow | -124.79M | -170.93M | -237.55M | -343.50M | -365.95M | -88.49M |
| Net Cash Flow | -212.00K | -303.00K | 18.45M | -27.10M | -96.43M | 35.73M |
| Free Cash Flow | 159.82M | 165.86M | 248.49M | 310.97M | 266.72M | 121.80M |
| Free Cash Flow Margin | 79.93% | 81.97% | 101.42% | 105.90% | 81.30% | 62.70% |
| Free Cash Flow Per Share | 11.99 | 12.46 | 18.21 | 19.32 | 13.57 | 5.49 |
| Levered Free Cash Flow | 118.20M | 118.20M | 142.54M | 171.37M | 147.54M | 77.83M |
| Unlevered Free Cash Flow | 121.30M | 123.19M | 152.26M | 180.18M | 163.96M | 99.86M |
| Cash Interest Paid | 4.82M | 8.03M | 15.45M | 13.86M | 25.27M | 37.38M |
| Change in Working Capital | 3.86M | 3.10M | 19.44M | -6.08M | -32.30M | -9.30M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.53B | 1.37B | 1.45B | 1.17B | 679.45M | 412.78M |
| Enterprise Value | 1.53B | 1.42B | 1.63B | 1.41B | 1.03B | 927.99M |
| Last Close Price | 115.62 | 102.20 | 104.21 | 81.77 | 43.72 | 25.29 |
| PE Ratio | 14.75 | 10.26 | 9.54 | 5.94 | 2.91 | 5.45 |
| Forward PE | 4.53 | 4.53 | 4.53 | 4.53 | 4.53 | |
| PS Ratio | 7.66 | 6.78 | 5.91 | 3.98 | 2.07 | 2.12 |
| PB Ratio | 2.40 | 2.17 | 2.63 | 2.02 | 1.06 | 0.94 |
| P/TBV Ratio | 2.43 | 2.25 | 2.74 | 2.30 | 1.49 | 1.73 |
| P/FCF Ratio | 9.59 | 8.27 | 5.83 | 3.76 | 2.55 | 3.39 |
| P/OCF Ratio | 9.59 | 8.27 | 5.83 | 3.76 | 2.55 | 3.39 |
| EV/Sales Ratio | 7.66 | 7.04 | 6.64 | 4.81 | 3.13 | 4.78 |
| EV/EBITDA Ratio | 9.99 | 9.23 | 8.48 | 6.01 | 3.79 | 6.19 |
| EV/EBIT Ratio | 12.02 | 10.22 | 9.23 | 6.54 | 4.20 | 7.38 |
| EV/FCF Ratio | 9.59 | 8.59 | 6.55 | 4.54 | 3.85 | 7.62 |
| Debt / Equity Ratio | 0.05 | 0.06 | 0.27 | 0.28 | 0.27 | 0.98 |
| Debt / EBITDA Ratio | 0.20 | 0.24 | 0.76 | 0.68 | 0.63 | 2.89 |
| Debt / FCF Ratio | 0.19 | 0.23 | 0.59 | 0.51 | 0.64 | 3.56 |
| Net Debt / Equity Ratio | 0.00 | 0.01 | 0.21 | 0.26 | 0.21 | 0.68 |
| Net Debt / EBITDA Ratio | 0.00 | 0.05 | 0.60 | 0.63 | 0.49 | 1.99 |
| Net Debt / FCF Ratio | 0.00 | 0.04 | 0.47 | 0.47 | 0.50 | 2.45 |
| Asset Turnover | 0.26 | 0.27 | 0.31 | 0.35 | 0.36 | 0.21 |
| Quick Ratio | 2.08 | 1.78 | 1.94 | 1.07 | 1.36 | 2.50 |
| Current Ratio | 2.12 | 1.85 | 2.00 | 1.11 | 1.39 | 2.53 |
| Return on Equity (ROE) | 17.20% | 23.04% | 32.52% | 45.63% | 49.63% | 26.80% |
| Return on Assets (ROA) | 10.49% | 11.46% | 14.02% | 16.13% | 16.68% | 8.37% |
| Return on Capital Employed (ROCE) | 17.50% | 19.50% | 23.80% | 28.90% | 29.90% | 14.10% |
| Earnings Yield | 6.78% | 9.74% | 12.46% | 23.46% | 38.81% | 26.01% |
| FCF Yield | 10.43% | 12.09% | 17.16% | 26.59% | 39.26% | 29.51% |
| Dividend Yield | 2.60% | 2.87% | 2.70% | 3.24% | 5.52% | 5.39% |
| Payout Ratio | 39.80% | 41.39% | 42.70% | 33.01% | 24.25% | 35.17% |
| Buyback Yield / Dilution | -0.30% | 2.46% | 15.21% | 18.10% | 11.45% | -81.01% |
| Total Shareholder Return | 2.29% | 5.34% | 17.92% | 21.34% | 16.97% | -75.62% |