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NATURAL RESOURCE PARTNERS LP (NRP) Stock Fundamental Analysis

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

97.22  +0.19 (+0.2%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to NRP. NRP was compared to 210 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 it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year NRP was profitable.
NRP had a positive operating cash flow in the past year.
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

Looking at the Return On Assets, with a value of 17.90%, NRP belongs to the top of the industry, outperforming 94.76% of the companies in the same industry.
NRP has a better Return On Equity (24.50%) than 88.10% of its industry peers.
NRP has a Return On Invested Capital of 18.80%. This is amongst the best in the industry. NRP outperforms 94.76% of its industry peers.
NRP had an Average Return On Invested Capital over the past 3 years of 27.07%. This is above the industry average of 23.80%.
The last Return On Invested Capital (18.80%) for NRP is well below the 3 year average (27.07%), which needs to be investigated, but indicates that NRP had better years and this may not be a problem.
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 better Profit Margin (55.94%) than 93.81% of its industry peers.
In the last couple of years the Profit Margin of NRP has grown nicely.
NRP's Operating Margin of 71.84% is amongst the best of the industry. NRP outperforms 95.71% of its industry peers.
NRP's Operating Margin has been stable in the last couple of years.
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

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), NRP is creating value.
Compared to 1 year ago, NRP has more shares outstanding
NRP has more shares outstanding than it did 5 years ago.
The debt/assets ratio for NRP has been reduced compared to a year ago.
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 has a Debt to FCF ratio of 0.66. This is amongst the best in the industry. NRP outperforms 90.48% 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.
Looking at the Debt to Equity ratio, with a value of 0.22, NRP is in the better half of the industry, outperforming 69.52% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 0.66
Altman-Z N/A
ROIC/WACC1.96
WACC9.57%
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.
NRP's Current ratio of 2.45 is amongst the best of the industry. NRP outperforms 82.38% of its industry peers.
A Quick Ratio of 2.45 indicates that NRP has no problem at all paying its short term obligations.
NRP's Quick ratio of 2.45 is amongst the best of the industry. NRP outperforms 83.33% of its industry peers.
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

The earnings per share for NRP have decreased strongly by -23.12% in the last year.
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.
Looking at the last year, NRP shows a very negative growth in Revenue. The Revenue has decreased by -28.18% in the last year.
The Revenue has been growing slightly by 0.44% on average over the past years.
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

A Price/Earnings ratio of 9.34 indicates a reasonable valuation of NRP.
NRP's Price/Earnings ratio is a bit cheaper when compared to the industry. NRP is cheaper than 75.24% of the companies in the same industry.
When comparing the Price/Earnings ratio of NRP to the average of the S&P500 Index (27.19), we can say NRP is valued rather cheaply.
Industry RankSector Rank
PE 9.34
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

61.43% of the companies in the same industry are more expensive than NRP, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NRP indicates a rather cheap valuation: NRP is cheaper than 88.10% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 6.04
EV/EBITDA 7.19
NRP Per share dataNRP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

The excellent profitability rating of NRP 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 3.05%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 6.41, NRP has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.35, NRP pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.05%

5.2 History

The dividend of NRP has a limited annual growth rate of 3.46%.
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)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 (7/15/2025, 8:04:00 PM)

97.22

+0.19 (+0.2%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)05-06 2025-05-06/bmo
Earnings (Next)08-01 2025-08-01
Inst Owners32.1%
Inst Owner Change0%
Ins Owners2.57%
Ins Owner Change0.58%
Market Cap1.28B
Analysts80
Price TargetN/A
Short Float %2.15%
Short Ratio9.82
Dividend
Industry RankSector Rank
Dividend Yield 3.05%
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 9.34
Fwd PE N/A
P/S 5.17
P/FCF 6.04
P/OCF 6.04
P/B 2.26
P/tB 2.32
EV/EBITDA 7.19
EPS(TTM)10.41
EY10.71%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)16.09
FCFY16.55%
OCF(TTM)16.09
OCFY16.55%
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
WACC9.57%
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%