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Friday 6 November 2026
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Mach Natural Resources LP
MNR Energy Oil & Gas E&P
Mach Natural Resources LP’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 21.2% from fiscal 2024.
- Revenue
- +17.1%
- EPS
- +121.4%
- Free cash flow
- +174.1%
- Total debt
- +1.04%
Quarter to September 2026, against a year earlier
9.97
0.05
−0.50%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 392 | 937 | 762 | 970 | 1,175 | 1,399 | +31.5% | 1,440 | 1,416 | 1,394 | +5.9% | |
| Gross margin, % | — | — | — | — | — | 70.88 | 72.99 | 72.98 | 66.88 | 62.41 | 0.00 | (8.5) pt | ||||||
| EBT | — | — | — | — | — | 138 | 517 | 347 | 185 | 143 | 147 | +0.8% | ||||||
| EBT margin, % | — | — | — | — | — | 35.25 | 55.13 | 45.46 | 19.10 | 12.16 | 10.47 | (23.1) pt | ||||||
| Net income | — | — | — | — | — | 138 | 517 | 347 | 185 | 143 | 147 | +0.8% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.00 | 8.03 | 9.94 | 8.94 | 8.35 | n/m | |||||
| Earnings | — | — | — | — | — | — | — | 0.72 | 1.90 | 1.09 | 0.87 | +23.0% | ||||||
| Cash flow | — | — | — | — | — | 0.00 | 0.00 | 5.18 | 5.18 | 3.86 | 3.51 | n/m | ||||||
| Capex | — | — | — | — | — | 0.00 | 0.00 | (3.28) | (1.85) | (2.02) | 0.00 | n/m | ||||||
| Free cash flow | — | — | — | — | — | 0.00 | 0.00 | 1.90 | 3.33 | 1.83 | 3.51 | n/m | ||||||
| Book value | — | — | — | — | — | 0.00 | 0.00 | 12.56 | 12.29 | 15.13 | 10.92 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | — | 95 | 98 | 131 | 159 | +17.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 6.75 | 6.75 | 6.75 | 9.04 | 10.49 | 11.42 | 8.0 | |||||
| P/S | — | — | — | — | — | 2.10 | 2.10 | 1.98 | 1.73 | 1.23 | 1.19 | 1.8 | ||||||
| P/B | — | — | — | — | — | 2.27 | 2.27 | 1.27 | 1.40 | 0.73 | 0.90 | 1.6 | ||||||
| EV/Sales | — | — | — | — | — | 2.15 | 2.15 | 2.84 | 2.39 | 2.24 | 2.06 | 2.4 | ||||||
| EV/FCF | — | — | — | — | — | 8.70 | 8.70 | 12.00 | 7.14 | 10.93 | 10.30 | 9.5 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 198 | 554 | 492 | 505 | 507 | 588 | +26.4% | |||||
| Capex | — | — | — | — | — | (40) | (239) | (311) | (180) | (266) | (308) | +60.2% | ||||||
| Free cash flow | — | — | — | — | — | 158 | 315 | 180 | 325 | 241 | 588 | +11.1% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 34 | 69 | (30) | 18 | (92) | (18.7%) | |||||
| Net debt | — | — | — | — | — | — | 55 | 654 | 646 | 1,101 | 1,125 | +170.8% | ||||||
| Shareholders’ equity | — | — | — | — | — | — | 593 | 1,192 | 1,199 | 1,989 | 1,829 | +49.7% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | 116.42 | 4.29 | 7.98 | 4.68 | 3.91 | +4.7 pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 50.33 | 12.16 | 9.86 | 4.95 | 5.30 | +5.0 pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 0.00 | 7.68 | 15.49 | 8.97 | 0.00 | +9.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 444 | 505 | 840 | — | +37.5% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 1.72 | 1.92 | 1.40 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Mach Natural Resources LP vs peers in Oil & Gas E&P (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| TALO Talos Energy Inc. | $2.5B | — (loss-making) | — (loss-making) | +32.43% (above 0%: growing) | n/m | +471.14% (above 0%: growing) | 100.00% | 26.33% | Compare |
| NOG Northern Oil and Gas, Inc. | $2.4B | — (loss-making) | — (loss-making) | +5.44% (above 0%: growing) | +119.61% (above 0%: growing) | −266.95% (below 0%: shrinking) | 76.81% | 47.31% | Compare |
| BKV BKV Corporation | $2.0B | 6.6× | 12.0× | +1.57% (above 0%: growing) | −44.72% (below 0%: shrinking) | −1,530.03% (below 0%: shrinking) | 60.28% | 26.13% | Compare |
| KRP Kimbell Royalty | $1.9B | 19.6× | 15.6× | +7.09% (above 0%: growing) | −36.84% (below 0%: shrinking) | −118.49% (below 0%: shrinking) | 100.00% | 36.27% | Compare |
| MNR Mach Natural Resources LP | $1.7B | 11.4× | 8.8× | +17.13% (above 0%: growing) | n/m | +174.08% (above 0%: growing) | 0.00% | 11.45% | |
| VET Vermilion Energy Inc. | $1.6B | — (loss-making) | 16.2× | +17.00% (above 0%: growing) | n/m | +110.78% (above 0%: growing) | 67.53% | 29.66% | Compare |
| DMLP Dorchester Minerals, L.P. | $1.3B | 13.2× | — | +45.16% (above 0%: growing) | +134.78% (above 0%: growing) | +25.38% (above 0%: growing) | 100.00% | 53.65% | Compare |
| GFR Greenfire Resources Ltd. | $1.3B | — (loss-making) | 46.7× | +21.83% (above 0%: growing) | −38.00% (below 0%: shrinking) | −386.50% (below 0%: shrinking) | 93.25% | 38.51% | Compare |
| KOS Kosmos Energy Ltd. | $1.3B | — (loss-making) | 21.6× | +31.70% (above 0%: growing) | n/m | +200.53% (above 0%: growing) | 74.14% | 42.20% | Compare |
| Median of peers | $1.8B | 13.2× | 16.2× | +19.42% | −36.84% | −46.55% | 85.03% | 37.39% |