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NATURAL RESOURCE PARTNERS LP (NRP) Stock Fundamental Analysis

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

103.6  -0.17 (-0.16%)

Fundamental Rating

5

Overall NRP gets a fundamental rating of 5 out of 10. We evaluated NRP against 212 industry peers in the Oil, Gas & Consumable Fuels industry. NRP gets an excellent profitability rating and is at the same time showing great financial health properties. NRP has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year NRP was profitable.
NRP had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: NRP reported negative net income in multiple 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 0 200M -200M -400M

1.2 Ratios

The Return On Assets of NRP (21.71%) is better than 93.20% of its industry peers.
NRP's Return On Equity of 33.15% is amongst the best of the industry. NRP outperforms 89.32% of its industry peers.
NRP's Return On Invested Capital of 22.40% is amongst the best of the industry. NRP outperforms 93.69% of its industry peers.
NRP had an Average Return On Invested Capital over the past 3 years of 24.68%. This is below the industry average of 28.73%.
Industry RankSector Rank
ROA 21.71%
ROE 33.15%
ROIC 22.4%
ROA(3y)19.75%
ROA(5y)8.42%
ROE(3y)29.21%
ROE(5y)9.36%
ROIC(3y)24.68%
ROIC(5y)19.47%
NRP Yearly ROA, ROE, ROICNRP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -200 -400 -600

1.3 Margins

Looking at the Profit Margin, with a value of 59.41%, NRP belongs to the top of the industry, outperforming 92.72% of the companies in the same industry.
NRP's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 74.66%, NRP belongs to the top of the industry, outperforming 95.15% of the companies in the same industry.
In the last couple of years the Operating Margin of NRP has grown nicely.
Industry RankSector Rank
OM 74.66%
PM (TTM) 59.41%
GM N/A
OM growth 3Y6.51%
OM growth 5Y1.6%
PM growth 3YN/A
PM growth 5Y4.64%
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 0 50 -50 -100

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7

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), NRP is creating value.
NRP has more shares outstanding than it did 1 year ago.
NRP has more shares outstanding than it did 5 years ago.
NRP has a worse debt/assets ratio than last year.
NRP Yearly Shares OutstandingNRP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 500M 1B 1.5B

2.2 Solvency

An Altman-Z score of 4.31 indicates that NRP is not in any danger for bankruptcy at the moment.
NRP has a better Altman-Z score (4.31) than 86.89% of its industry peers.
The Debt to FCF ratio of NRP is 0.76, which is an excellent value as it means it would take NRP, only 0.76 years of fcf income to pay off all of its debts.
NRP has a Debt to FCF ratio of 0.76. This is amongst the best in the industry. NRP outperforms 88.83% of its industry peers.
NRP has a Debt/Equity ratio of 0.35. This is a healthy value indicating a solid balance between debt and equity.
NRP has a Debt to Equity ratio of 0.35. This is comparable to the rest of the industry: NRP outperforms 52.91% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 0.76
Altman-Z 4.31
ROIC/WACC2.51
WACC8.92%
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 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 2.33 indicates that NRP has no problem at all paying its short term obligations.
The Current ratio of NRP (2.33) is better than 76.21% of its industry peers.
A Quick Ratio of 2.33 indicates that NRP has no problem at all paying its short term obligations.
NRP has a Quick ratio of 2.33. This is in the better half of the industry: NRP outperforms 78.16% of its industry peers.
Industry RankSector Rank
Current Ratio 2.33
Quick Ratio 2.33
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 50M 100M 150M 200M

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2

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 1.89% over the past year.
NRP shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 19.89% yearly.
Looking at the last year, NRP shows a very negative growth in Revenue. The Revenue has decreased by -22.54% in the last year.
NRP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.89% yearly.
EPS 1Y (TTM)1.89%
EPS 3YN/A
EPS 5Y19.89%
EPS Q2Q%-31.27%
Revenue 1Y (TTM)-22.54%
Revenue growth 3Y37.99%
Revenue growth 5Y7.89%
Sales Q2Q%-30.15%

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 100M 200M 300M 400M
NRP Yearly EPS VS EstimatesNRP Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 10

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 8.33, which indicates a very decent valuation of NRP.
Based on the Price/Earnings ratio, NRP is valued a bit cheaper than 74.76% of the companies in the same industry.
When comparing the Price/Earnings ratio of NRP to the average of the S&P500 Index (28.47), we can say NRP is valued rather cheaply.
Industry RankSector Rank
PE 8.33
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

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NRP is on the same level as its industry peers.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NRP indicates a rather cheap valuation: NRP is cheaper than 86.41% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 5.2
EV/EBITDA 6.49
NRP Per share dataNRP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The decent profitability rating of NRP may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.42
EPS Next 2YN/A
EPS Next 3YN/A

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6

5. Dividend

5.1 Amount

NRP has a Yearly Dividend Yield of 2.84%.
Compared to an average industry Dividend Yield of 6.57, NRP has a dividend in line with its industry peers.
NRP's Dividend Yield is a higher than the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 2.84%

5.2 History

The dividend of NRP is nicely growing with an annual growth rate of 11.08%!
NRP has been paying a dividend for at least 10 years, so it has a reliable track record.
NRP has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)11.08%
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 10 20 30 40 50

5.3 Sustainability

NRP pays out 46.85% of its income as dividend. This is a bit on the high side, but may be sustainable.
NRP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP46.85%
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 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 (2/4/2025, 8:04:00 PM)

103.6

-0.17 (-0.16%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)11-05 2024-11-05/bmo
Earnings (Next)03-05 2025-03-05
Inst Owners32.87%
Inst Owner Change0.36%
Ins Owners7.09%
Ins Owner Change0%
Market Cap1.35B
Analysts80
Price TargetN/A
Short Float %1.99%
Short Ratio5.76
Dividend
Industry RankSector Rank
Dividend Yield 2.84%
Yearly Dividend7.32
Dividend Growth(5Y)11.08%
DP46.85%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
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 8.33
Fwd PE N/A
P/S 4.68
P/FCF 5.2
P/OCF 5.2
P/B 2.61
P/tB 2.68
EV/EBITDA 6.49
EPS(TTM)12.43
EY12%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)19.93
FCFY19.23%
OCF(TTM)19.93
OCFY19.23%
SpS22.12
BVpS39.63
TBVpS38.63
PEG (NY)N/A
PEG (5Y)0.42
Profitability
Industry RankSector Rank
ROA 21.71%
ROE 33.15%
ROCE 28.35%
ROIC 22.4%
ROICexc 23.35%
ROICexgc 23.77%
OM 74.66%
PM (TTM) 59.41%
GM N/A
FCFM 90.09%
ROA(3y)19.75%
ROA(5y)8.42%
ROE(3y)29.21%
ROE(5y)9.36%
ROIC(3y)24.68%
ROIC(5y)19.47%
ROICexc(3y)26.16%
ROICexc(5y)20.89%
ROICexgc(3y)26.68%
ROICexgc(5y)21.31%
ROCE(3y)31.24%
ROCE(5y)24.64%
ROICexcg growth 3Y48.37%
ROICexcg growth 5Y18.1%
ROICexc growth 3Y48.59%
ROICexc growth 5Y18.6%
OM growth 3Y6.51%
OM growth 5Y1.6%
PM growth 3YN/A
PM growth 5Y4.64%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.37
Health
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 0.76
Debt/EBITDA 0.78
Cap/Depr 0.05%
Cap/Sales 0%
Interest Coverage 13.62
Cash Conversion 111.04%
Profit Quality 151.66%
Current Ratio 2.33
Quick Ratio 2.33
Altman-Z 4.31
F-Score6
WACC8.92%
ROIC/WACC2.51
Cap/Depr(3y)0.17%
Cap/Depr(5y)0.1%
Cap/Sales(3y)0.01%
Cap/Sales(5y)0.01%
Profit Quality(3y)144.35%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1.89%
EPS 3YN/A
EPS 5Y19.89%
EPS Q2Q%-31.27%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-22.54%
Revenue growth 3Y37.99%
Revenue growth 5Y7.89%
Sales Q2Q%-30.15%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-27.39%
EBIT growth 3Y46.97%
EBIT growth 5Y9.62%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y2.74%
FCF growth 3Y51.57%
FCF growth 5Y10.48%
OCF growth 1Y2.71%
OCF growth 3Y51.57%
OCF growth 5Y10.48%