Mach Natural Resources LP (MNR) vs Tamboran Resources Corporation (TBN)

Mach Natural Resources LP and Tamboran Resources Corporation are both Oil & Gas E&P companies. Mach Natural Resources LP is the larger, with a market value of $1.8B against $1.3B — 1.4× the size. Tamboran Resources Corporation has negative trailing earnings, so its P/E is not meaningful; Mach Natural Resources LP trades at 17.3×. Mach Natural Resources LP has the higher net margin (7.44% vs 0.00%) and the higher return on invested capital (4.09% vs −4.13%). Across the 13 metrics below, Mach Natural Resources LP leads on 9 and Tamboran Resources Corporation on 4.

Valuation

Metric MNR TBN Oil & Gas E&P median
P/E 17.33 n/m 10.57
P/S 1.29 n/m 1.80
P/B 0.94 1.44 1.27
Price to free cash flow 6.96 n/m 9.99
EV/EBITDA 5.28 n/m 5.08
EV/Sales 2.18 n/m 2.39
Earnings yield 5.77% (5.32%) 6.06%
Free cash flow yield 14.36% (20.60%) 6.17%

Profitability

Metric MNR TBN Oil & Gas E&P median
Gross margin 56.26% — 80.41%
Operating margin 14.40% 0.00% 21.39%
Net margin 7.44% 0.00% 14.17%
Free cash flow margin 18.51% 0.00% 9.71%
Return on equity 0.00% (7.89%) 10.05%
Return on assets 3.35% (6.53%) 5.81%
Return on invested capital 4.09% (4.13%) 6.32%

Growth

Metric MNR TBN Oil & Gas E&P median
Revenue growth (TTM) 34.42% — 9.94%
EPS growth (last fiscal year) (42.63%) (8.62%) —
Revenue growth, 5-year CAGR — — 18.67%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric MNR TBN Oil & Gas E&P median
Debt to equity 0.63 0.10 0.28
Current ratio 0.88 2.00 0.96
Net debt to EBITDA 2.03 0.91 0.91

Dividend

Metric MNR TBN Oil & Gas E&P median
Dividend yield — — 4.93%
Payout ratio — — 0.07

Size

Metric MNR TBN Oil & Gas E&P median
Market cap 1.76b 1.29b 923.59m

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