Pricing Log in Create free account
Friday 6 November 2026 Export NRP’s income statement to Excel — free account

Natural Resource Partners LP

NRP Energy Thermal Coal

Natural Resource Partners LP’s revenue for fiscal 2025 (year ended December 2025) was $207.3 million, down 22.7% from fiscal 2024.

Revenue
−10.2%
EPS
−15.2%
Free cash flow
+4.75%
Total debt
−79.4%

Quarter to September 2026, against a year earlier

119.39 1.87 +1.59%
Market cap
$1.6B
P/E
15.3×
Fwd P/E
—
Dividend yield
2.58%
F-score
4/9
Altman Z
n/a
Beneish M
−2.53
Dividend safety
61/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.03
Sold, $m 0.24
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 1 — — — — — —
Sell — — — — — — — — 1 — — —
Insider Ownership 32.00%

Capital & Financial Ratios $m

Size
Market Cap 1,560.00
Revenue ttm 179.00
Net income ttm 102.34
Free cash flow ttm 163.68
Net debt Q (37.38)
Valuation
P/E 15.34
Forward P/E —
Price / sales 8.62
Forward P/S Powerpack
Price / FCF 8.57
Price / book 2.30
Financial health
Current ratio Q 2.74 (at or above 1.5: strong)
Debt / equity Q 0.02 (at or below 0.5: strong)
Interest coverage Q 49.08
Growth
Revenue growth Q −10.24% (below 0%: shrinking)
Operating income growth Q −17.10% (below 0%: shrinking)
EPS, this year —
EPS, next year A —
Revenue, next year A —
EPS, past 5 yrs —
EPS, next 5 yrs A 0.00%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.5×, against a ten-year median of 3.8×; over the ten years it ranged from 1.8× in 2023 to 8.7× in 2026.
P/E against its own 10 years 96.76%
10-year low 10-year high
P/S against its own 10 years 99.67%
10-year low 10-year high
P/B against its own 10 years 79.65%
10-year low 10-year high
EV/Sales against its own 10 years 99.30%
10-year low 10-year high
EV/FCF against its own 10 years 84.93%
10-year low 10-year high

Dividends

Yield
2.58%
Annual rate
3.00
Payout ratio
40.0%
Growth, 2018–26
+2.83%/yr
  1. 1.80 ’18
  2. 1.35 ’19 −25
  3. 1.35 ’20 +0
  4. 1.80 ’21 +33
  5. 2.70 ’22 +50
  6. 3.00 ’23 +11
  7. 3.00 ’24 +0
  8. 3.00 ’25 +0
  9. 2.25 ’26 −25
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 12 30 30 52
Receivables 41 31 29 29
Inventory — — — —
Other 2 2 2 0
55 64 61 81
2023 2024 2025 Q'26
Payables 1 1 1 1
ST’ Debt 31 14 14 14
Other — — — —
50 32 33 29

Compound Annual Growth %

10y 5y 3y
Sales (7.24%) 8.12% (18.93%)
Cash Flow (2.02%) 13.19% (14.66%)
Earnings 0.00% 0.00% (17.00%)
Book Value 24.11% 25.33% 9.83%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY19 Estimate 1.23 Actual 1.69

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY18 1.22 1.69 Beat by 0.47
Q1 FY19 1.30 1.75 Beat by 0.45
Q2 FY19 1.42 2.74 Beat by 1.32
Q3 FY19 1.23 1.69 Beat by 0.46

EPS $

Mar Jun Sep Dec Year
’26 1.44 1.85 1.95 — —
’25 2.97 2.52 2.28 2.27 10.04
’24 3.83 2.29 2.00 3.15 11.35
’23 3.44 2.49 2.91 4.31 13.08
’22 3.11 3.29 3.71 3.13 13.39
’21 0.05 0.56 1.10 2.42 4.81
’20 0.52 (10.64) (0.02) 0.56 (9.20)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 39 48 45 — —
’25 61 50 50 47 207
’24 76 66 60 66 268
’23 99 91 86 93 370
’22 90 100 102 97 389
’21 37 39 57 84 216
’20 40 31 30 39 140
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 33 41 44 — —
’25 34 46 41 45 166
’24 71 57 54 66 248
’23 73 81 79 78 311
’22 52 63 82 69 267
’21 23 13 30 55 122
’20 32 20 24 13 89
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 33 41 44 — —
’25 35 46 42 45 168
’24 72 61 54 66 253
’23 73 81 80 80 314
’22 52 63 83 69 268
’21 23 14 30 55 122
’20 32 20 24 13 90
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten 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 279 246 279 264 140 216 389 370 268 207 179 (3.3%) — — — —
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 91 82 122 (25) (85) 109 268 278 184 136 102 +4.6%
EBT margin, % 32.45 33.49 43.93 (9.63) (60.45) 50.33 69.03 75.25 68.52 65.79 57.17 +33.3 pt
Net income 97 89 140 (24) (85) 109 268 278 184 136 102 +3.9%
Per share, $
Per share, $ Revenue 22.83 20.14 22.75 21.53 11.44 17.54 31.16 29.32 20.63 15.79 13.51 (4.0%)
Earnings 7.78 5.06 8.77 (4.35) (9.20) 6.14 18.72 15.59 11.69 10.18 7.59 +3.0%
Cash flow 8.83 10.39 15.43 11.20 7.28 9.87 21.37 24.64 19.13 12.63 12.28 +4.1%
Capex 5.08 0.09 0.20 0.53 0.05 0.02 0.08 0.23 0.37 0.14 0.07 (32.7%)
Free cash flow 13.90 10.49 15.63 11.73 7.33 9.89 21.45 24.88 19.50 12.78 12.35 (0.9%)
Book value 12.11 21.40 34.35 27.41 16.68 20.75 38.25 42.08 42.42 48.18 50.54 +16.6%
Shares, m 12 12 12 12 12 12 12 13 13 13 13 +0.8%
Valuation, ×
Valuation, × P/E 4.27 3.41 4.25 0.00 0.00 5.45 2.89 5.84 9.48 10.26 15.34 4.6
P/S 1.45 1.33 1.68 0.93 1.20 1.91 1.59 3.10 5.38 6.61 8.62 2.5
P/B 2.74 1.25 1.11 0.73 0.82 1.61 1.30 2.16 2.62 2.17 2.30 1.7
EV/Sales 5.36 4.51 3.36 2.52 3.85 3.28 1.93 3.49 5.80 6.63 8.48 4.1
EV/FCF 8.81 8.68 4.90 4.15 5.09 5.13 2.64 3.91 5.76 7.46 8.43 5.7
Cash, $m
Cash, $m Operating cash flow 108 127 189 137 89 122 267 311 248 166 163 +4.9%
Capex 62 1 2 6 1 0 1 3 5 2 1 (32.2%)
Free cash flow 170 128 191 144 90 122 268 314 253 168 164 (0.2%)
Balance, $m
Balance, $m Working capital (84) (29) 94 69 56 98 23 5 32 28 51 n/m
Net debt 1,090 782 467 418 372 298 129 143 112 3 (37) (48.2%)
Shareholders’ equity 148 262 421 336 205 256 477 531 551 633 670 +17.5%
Returns, %
Returns, % ROA 6.11 4.37 7.86 (4.40) (11.23) 8.08 25.53 23.49 19.33 17.57 13.22 +11.5 pt
ROIC 9.15 10.57 13.56 4.25 (4.76) 16.67 31.45 27.12 18.79 14.20 10.48 +5.0 pt
ROE 86.15 30.22 31.46 (14.11) (41.71) 32.89 63.73 39.02 28.06 22.58 15.66 (63.6) pt
People
People Employees 63 64 57 56 54 52 54 55 54 51 — (2.3%)
Revenue/emp, $m 4.43 3.85 4.89 4.71 2.60 4.16 7.20 6.73 4.96 4.06 — (1.0%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

Natural Resource Partners LP vs peers in Thermal Coal (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
CNR Core Natural Resources, Inc. $3.7B 47.6× 18.2× +14.22% (above 0%: growing) −70.49% (below 0%: shrinking) +106.40% (above 0%: growing) 17.28% 0.58% Compare
ARLP Alliance Resource Partners, L.P. $3.2B 12.1× 10.5× +0.75% (above 0%: growing) +32.61% (above 0%: growing) +21.12% (above 0%: growing) 36.75% 17.33% Compare
BTU Peabody Energy Corporation $2.0B — (loss-making) — (loss-making) +8.32% (above 0%: growing) n/m −494.22% (below 0%: shrinking) 10.59% (3.87%) Compare
NRP Natural Resource Partners LP $1.6B 15.3× — −10.24% (below 0%: shrinking) −15.15% (below 0%: shrinking) +4.75% (above 0%: growing) 100.00% 60.45%
NC NACCO Industries, Inc. $251.2M 16.8× 3.8× +5.06% (above 0%: growing) −19.10% (below 0%: shrinking) −58.04% (below 0%: shrinking) 14.64% 11.50% Compare
Median of peers $2.6B 16.8× 10.5× +6.69% −19.10% −18.46% 15.96% 6.04%

All 5 Thermal Coal stocks →

Natural Resource Partners LP (NRP) Latest News

6 Nov

Impact 3 · · Zacks

4 Nov

Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript

28 Oct

Impact 3 · · Zacks

21 Oct

Impact 3 · · GlobeNewswire

9 Oct

Impact 3 · · Simply Wall St.

8 Aug

Impact 3 · · MarketBeat

5 Aug

Impact 3 · · Moby
Impact 3 ·

3 Aug

Impact 3 ·

13 May

Impact 4 · · MarketBeat

12 May

Impact 3 · · The Motley Fool

7 May

Impact 4 · · The Motley Fool

6 May

Impact 4 · · GlobeNewswire
Impact 3 · · Moby

26 Apr

Impact 3 · · Insider Monkey

10 Mar

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

6 Mar

Impact 4 · · Insider Monkey

5 Mar

Impact 4 · · GuruFocus.com

1 Mar

Impact 3 · · Simply Wall St.

28 Feb

Impact 4 · · MarketBeat
Impact 4 · · Moby

27 Feb

Impact 4 · · GlobeNewswire

12 Feb

Impact 3 · · ZacksSimply Wall St.

9 Feb

Impact 3 ·

6 Feb

Impact 3 · · GuruFocus.com

4 Feb

Impact 3 · · GlobeNewswire

2 Feb

Impact 4 · · Insider Monkey

29 Jan

Impact 3 · · Insider Monkey
stockrow.com/NRP · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com