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NATURAL RESOURCE PARTNERS LP (NRP) Stock Fundamental Analysis

NYSE:NRP - New York Stock Exchange, Inc. - US63900P6088 - Currency: USD

95.69  +0.5 (+0.53%)

Fundamental Rating

6

NRP gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 213 industry peers in the Oil, Gas & Consumable Fuels industry. Both the health and profitability get an excellent rating, making NRP a very profitable company, without any liquidiy or solvency issues. NRP has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

NRP had positive earnings in the past year.
In the past year NRP had a positive cash flow from operations.
NRP had positive earnings in 4 of the past 5 years.
In the past 5 years NRP always reported a positive cash flow from operatings.
NRP Yearly Net Income VS EBIT VS OCF VS FCFNRP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M -400M

1.2 Ratios

With an excellent Return On Assets value of 17.90%, NRP belongs to the best of the industry, outperforming 94.84% of the companies in the same industry.
Looking at the Return On Equity, with a value of 24.50%, NRP belongs to the top of the industry, outperforming 88.26% of the companies in the same industry.
With an excellent Return On Invested Capital value of 18.80%, NRP belongs to the best of the industry, outperforming 94.84% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for NRP is above the industry average of 23.54%.
The 3 year average ROIC (27.07%) for NRP is well above the current ROIC(18.80%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 17.9%
ROE 24.5%
ROIC 18.8%
ROA(3y)23.65%
ROA(5y)13.33%
ROE(3y)32.66%
ROE(5y)16.99%
ROIC(3y)27.07%
ROIC(5y)20.63%
NRP Yearly ROA, ROE, ROICNRP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -200 -400 -600

1.3 Margins

NRP has a Profit Margin of 55.94%. This is amongst the best in the industry. NRP outperforms 93.90% of its industry peers.
In the last couple of years the Profit Margin of NRP has grown nicely.
The Operating Margin of NRP (71.84%) is better than 95.77% of its industry peers.
In the last couple of years the Operating Margin of NRP has remained more or less at the same level.
Industry RankSector Rank
OM 71.84%
PM (TTM) 55.94%
GM N/A
OM growth 3Y1.5%
OM growth 5Y-0.29%
PM growth 3Y18.09%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
NRP Yearly Profit, Operating, Gross MarginsNRP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

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7

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so NRP is creating value.
Compared to 1 year ago, NRP has more shares outstanding
Compared to 5 years ago, NRP has more shares outstanding
NRP has a better debt/assets ratio than last year.
NRP Yearly Shares OutstandingNRP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
NRP Yearly Total Debt VS Total AssetsNRP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

NRP has a debt to FCF ratio of 0.66. This is a very positive value and a sign of high solvency as it would only need 0.66 years to pay back of all of its debts.
NRP's Debt to FCF ratio of 0.66 is amongst the best of the industry. NRP outperforms 91.08% of its industry peers.
NRP has a Debt/Equity ratio of 0.22. This is a healthy value indicating a solid balance between debt and equity.
NRP has a Debt to Equity ratio of 0.22. This is in the better half of the industry: NRP outperforms 69.01% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 0.66
Altman-Z N/A
ROIC/WACC1.96
WACC9.58%
NRP Yearly LT Debt VS Equity VS FCFNRP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.3 Liquidity

NRP has a Current Ratio of 2.45. This indicates that NRP is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of NRP (2.45) is better than 82.16% of its industry peers.
A Quick Ratio of 2.45 indicates that NRP has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.45, NRP belongs to the top of the industry, outperforming 83.10% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.45
Quick Ratio 2.45
NRP Yearly Current Assets VS Current LiabilitesNRP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

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2

3. Growth

3.1 Past

NRP shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -23.12%.
Measured over the past years, NRP shows a very strong growth in Earnings Per Share. The EPS has been growing by 48.44% on average per year.
NRP shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -28.18%.
NRP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.44% yearly.
EPS 1Y (TTM)-23.12%
EPS 3Y48.44%
EPS 5YN/A
EPS Q2Q%-22.45%
Revenue 1Y (TTM)-28.18%
Revenue growth 3Y6.79%
Revenue growth 5Y0.44%
Sales Q2Q%-20.77%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
NRP Yearly Revenue VS EstimatesNRP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
NRP Yearly EPS VS EstimatesNRP Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2023 2024 0 5 -5 10

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 9.19, the valuation of NRP can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of NRP indicates a somewhat cheap valuation: NRP is cheaper than 77.00% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.65, NRP is valued rather cheaply.
Industry RankSector Rank
PE 9.19
Fwd PE N/A
NRP Price Earnings VS Forward Price EarningsNRP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NRP is valued a bit cheaper than 63.38% of the companies in the same industry.
86.85% of the companies in the same industry are more expensive than NRP, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 5.95
EV/EBITDA 7.06
NRP Per share dataNRP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

NRP has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

NRP has a Yearly Dividend Yield of 3.16%. Purely for dividend investing, there may be better candidates out there.
NRP's Dividend Yield is comparable with the industry average which is at 6.42.
NRP's Dividend Yield is a higher than the S&P500 average which is at 2.44.
Industry RankSector Rank
Dividend Yield 3.16%

5.2 History

The dividend of NRP has a limited annual growth rate of 3.46%.
NRP has paid a dividend for at least 10 years, which is a reliable track record.
NRP has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)3.46%
Div Incr Years4
Div Non Decr Years4
NRP Yearly Dividends per shareNRP Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40 50

5.3 Sustainability

NRP pays out 43.74% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP43.74%
EPS Next 2YN/A
EPS Next 3YN/A
NRP Yearly Income VS Free CF VS DividendNRP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M -400M
NRP Dividend Payout.NRP Dividend Payout, showing the Payout Ratio.NRP Dividend Payout.PayoutRetained Earnings

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NATURAL RESOURCE PARTNERS LP

NYSE:NRP (6/23/2025, 8:04:00 PM)

95.69

+0.5 (+0.53%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)05-06 2025-05-06/bmo
Earnings (Next)08-05 2025-08-05
Inst Owners32.1%
Inst Owner Change-0.29%
Ins Owners2.57%
Ins Owner Change0.58%
Market Cap1.26B
Analysts80
Price TargetN/A
Short Float %2.25%
Short Ratio9.54
Dividend
Industry RankSector Rank
Dividend Yield 3.16%
Yearly Dividend6.12
Dividend Growth(5Y)3.46%
DP43.74%
Div Incr Years4
Div Non Decr Years4
Ex-Date05-20 2025-05-20 (0.75)
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 9.19
Fwd PE N/A
P/S 5.09
P/FCF 5.95
P/OCF 5.95
P/B 2.23
P/tB 2.28
EV/EBITDA 7.06
EPS(TTM)10.41
EY10.88%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)16.09
FCFY16.81%
OCF(TTM)16.09
OCFY16.81%
SpS18.81
BVpS42.95
TBVpS41.99
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 17.9%
ROE 24.5%
ROCE 23.8%
ROIC 18.8%
ROICexc 19.61%
ROICexgc 19.97%
OM 71.84%
PM (TTM) 55.94%
GM N/A
FCFM 85.52%
ROA(3y)23.65%
ROA(5y)13.33%
ROE(3y)32.66%
ROE(5y)16.99%
ROIC(3y)27.07%
ROIC(5y)20.63%
ROICexc(3y)28.03%
ROICexc(5y)21.92%
ROICexgc(3y)28.57%
ROICexgc(5y)22.35%
ROCE(3y)34.27%
ROCE(5y)26.12%
ROICexcg growth 3Y10.43%
ROICexcg growth 5Y5.55%
ROICexc growth 3Y10.55%
ROICexc growth 5Y5.57%
OM growth 3Y1.5%
OM growth 5Y-0.29%
PM growth 3Y18.09%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.32
Health
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 0.66
Debt/EBITDA 0.65
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 11.86
Cash Conversion 109.85%
Profit Quality 152.89%
Current Ratio 2.45
Quick Ratio 2.45
Altman-Z N/A
F-Score6
WACC9.58%
ROIC/WACC1.96
Cap/Depr(3y)0.17%
Cap/Depr(5y)0.1%
Cap/Sales(3y)0.01%
Cap/Sales(5y)0.01%
Profit Quality(3y)145.28%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-23.12%
EPS 3Y48.44%
EPS 5YN/A
EPS Q2Q%-22.45%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-28.18%
Revenue growth 3Y6.79%
Revenue growth 5Y0.44%
Sales Q2Q%-20.77%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-33.65%
EBIT growth 3Y8.39%
EBIT growth 5Y0.15%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-26.41%
FCF growth 3Y26.83%
FCF growth 5Y12.6%
OCF growth 1Y-26.44%
OCF growth 3Y26.83%
OCF growth 5Y12.6%