Saturday 17 October 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. In the quarter to June 2026, revenue grew 40.7%, EPS fell 22.4%, free cash flow fell 13.1% and total debt rose 107.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
11.03
0.19
+1.75%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | — | — | 14.40 | 14.46 | 10.93 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | — | — | — | 19.20 | 21.19 | 19.00 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 444 | 505 | 840 | ||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 1.72 | 1.92 | 1.40 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 392 | 937 | 762 | 970 | 1,175 | ||||
| Gross margin, % | — | — | — | — | — | 70.88 | 72.99 | 72.98 | 66.88 | 62.41 | |||||
| EBT | — | — | — | — | — | 138 | 517 | 347 | 185 | 143 | |||||
| EBT margin, % | — | — | — | — | — | 35.25 | 55.13 | 45.46 | 19.10 | 12.16 | |||||
| Net income | — | — | — | — | — | 138 | 517 | 347 | 185 | 143 | |||||
| Depreciation | — | — | — | — | — | 41 | 89 | 140 | 278 | 298 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.00 | 8.03 | 9.94 | 8.94 | ||||
| Earnings | — | — | — | — | — | — | — | 0.72 | 1.90 | 1.09 | |||||
| Cash flow | — | — | — | — | — | 0.00 | 0.00 | 5.18 | 5.18 | 3.86 | |||||
| Capex | — | — | — | — | — | 0.00 | 0.00 | (3.28) | (1.85) | (2.02) | |||||
| Free cash flow | — | — | — | — | — | 0.00 | 0.00 | 1.90 | 3.33 | 1.83 | |||||
| Book value | — | — | — | — | — | 0.00 | 0.00 | 12.56 | 12.29 | 15.13 | |||||
| Shares, m | — | — | — | — | — | — | — | 95 | 98 | 131 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 3.88 | 3.88 | 3.88 | 9.04 | 9.86 | ||||
| P/S | — | — | — | — | — | 2.10 | 2.10 | 1.98 | 1.73 | 1.23 | |||||
| P/B | — | — | — | — | — | 2.27 | 2.27 | 1.27 | 1.40 | 0.73 | |||||
| EV/Sales | — | — | — | — | — | 2.15 | 2.15 | 2.84 | 2.39 | 2.24 | |||||
| EV/FCF | — | — | — | — | — | 8.70 | 8.70 | 12.00 | 7.14 | 10.93 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 198 | 554 | 492 | 505 | 507 | ||||
| Capex | — | — | — | — | — | (40) | (239) | (311) | (180) | (266) | |||||
| Free cash flow | — | — | — | — | — | 158 | 315 | 180 | 325 | 241 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 34 | 69 | (30) | 18 | ||||
| Total debt | — | — | — | — | — | — | 85 | 807 | 751 | 1,144 | |||||
| Net debt | — | — | — | — | — | — | 55 | 654 | 646 | 1,101 | |||||
| Shareholders’ equity | — | — | — | — | — | — | 593 | 1,192 | 1,199 | 1,989 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | 116.42 | 4.29 | 7.98 | 4.68 | ||||
| ROIC | — | — | — | — | — | 0.00 | 50.33 | 12.16 | 9.86 | 4.95 | |||||
| ROE | — | — | — | — | — | 0.00 | 0.00 | 7.68 | 15.49 | 8.97 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
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 |
|---|---|---|---|---|---|---|---|---|---|
| NOG Northern Oil and Gas, Inc. | $2.7B | — (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 | $2.4B | 8.3× | 12.6× | +1.57% (above 0%: growing) | −44.72% (below 0%: shrinking) | −1,530.03% (below 0%: shrinking) | 60.28% | 26.13% | Compare |
| KRP Kimbell Royalty | $2.1B | 19.4× | 17.3× | +29.96% (above 0%: growing) | +1,900.00% (above 0%: growing) | −66.72% (below 0%: shrinking) | 100.00% | 53.06% | Compare |
| VET Vermilion Energy Inc. | $1.9B | — (loss-making) | 21.3× | +17.00% (above 0%: growing) | n/m | +110.78% (above 0%: growing) | 67.53% | 29.66% | Compare |
| MNR Mach Natural Resources LP | $1.8B | 18.4× | 13.1× | +40.70% (above 0%: growing) | −22.37% (below 0%: shrinking) | −13.11% (below 0%: shrinking) | 61.56% | 30.17% | |
| KOS Kosmos Energy Ltd. | $1.6B | — (loss-making) | — (loss-making) | +56.80% (above 0%: growing) | n/m | +405.33% (above 0%: growing) | 70.40% | 47.75% | Compare |
| GFR Greenfire Resources Ltd. | $1.6B | — (loss-making) | — | +21.83% (above 0%: growing) | −38.00% (below 0%: shrinking) | −386.50% (below 0%: shrinking) | 93.25% | 38.51% | Compare |
| DMLP Dorchester Minerals, L.P. | $1.5B | 17.3× | — | +73.10% (above 0%: growing) | +148.00% (above 0%: growing) | +110.38% (above 0%: growing) | 100.00% | 55.05% | Compare |
| HPK HighPeak Energy, Inc. | $1.3B | — (loss-making) | — (loss-making) | +25.84% (above 0%: growing) | +215.79% (above 0%: growing) | +41.01% (above 0%: growing) | 76.83% | 29.46% | Compare |
| Median of peers | $1.8B | 17.3× | 17.3× | +23.84% | +133.81% | −12.85% | 76.82% | 42.91% |
Mach Natural Resources LP (MNR) key facts
- Strength: Mach Natural Resources LP’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 21.2% from fiscal 2024.
- Mach Natural Resources LP (MNR) is an Oil & Gas E&P company in the Energy sector, listed on the New York Stock Exchange.
- As of October 16, 2026, MNR traded at $11.03, a market capitalization of $1.8 billion.
- Return on equity was 8.97% and debt-to-equity 0.63.
- Its Piotroski F-score is 4 out of 9 for fiscal 2025.