Comprehensive Stock Comparison
Compare Mach Natural Resources LP (MNR) vs TXO Partners, L.P. (TXO) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | MNR | 27.2% revenue growth vs TXO's -25.7% |
| Value | MNR | Lower P/E (12.9x vs 25.0x) |
| Quality / Margins | MNR | 28.5% net margin vs TXO's 4.6% |
| Stability / Safety | TXO | Beta 0.46 vs MNR's 0.68, lower leverage |
| Dividends | MNR | 24.4% yield, 1-year raise streak, vs TXO's 18.9% |
| Momentum (1Y) | MNR | +0.9% vs TXO's -25.5% |
| Efficiency (ROA) | MNR | 7.7% ROA vs TXO's 1.2%, ROIC 11.7% vs -0.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Mach Natural Resources is an independent oil and gas company that acquires, develops, and produces oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region. It makes money primarily from the sale of produced hydrocarbons — oil, natural gas, and NGLs — with revenue mix depending on commodity prices and production volumes. The company's competitive advantage lies in its strategic focus on the prolific Anadarko Basin and its operational expertise in developing these specific assets.
TXO Partners is a conventional oil and gas partnership that acquires, develops, and exploits mature producing properties in North American basins. It generates revenue primarily from oil and natural gas liquids production — roughly 60% from oil and 40% from natural gas — through its working interests in established fields like the San Juan and Permian Basins. The partnership's competitive advantage lies in its focus on low-decline, conventional assets with predictable cash flows and its operational expertise in optimizing mature fields.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
MNR leads in 4 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 2 categories are tied.
Financial Metrics (TTM)
MNR is the larger business by revenue, generating $1.0B annually — 2.8x TXO's $364M. MNR is the more profitable business, keeping 28.5% of every revenue dollar as net income compared to TXO's 4.6%. On growth, TXO holds the edge at +46.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|
| RevenueTrailing 12 months | $1.0B | $364M |
| EBITDAEarnings before interest/tax | $559M | $95M |
| Net IncomeAfter-tax profit | $292M | $17M |
| Free Cash FlowCash after capex | $220M | -$146M |
| Gross MarginGross profit ÷ Revenue | +40.2% | +35.3% |
| Operating MarginEBIT ÷ Revenue | +19.8% | +0.5% |
| Net MarginNet income ÷ Revenue | +28.5% | +4.6% |
| FCF MarginFCF ÷ Revenue | +21.5% | -40.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +6.7% | +46.8% |
| EPS Growth (YoY)Latest quarter vs prior year | -140.0% | — |
Valuation Metrics
At 6.9x trailing earnings, MNR trades at a 64% valuation discount to TXO's 19.3x P/E. On an enterprise value basis, MNR's 5.1x EV/EBITDA is more attractive than TXO's 14.6x.
| Metric | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|
| Market CapShares × price | $2.2B | $686M |
| Enterprise ValueMkt cap + debt − cash | $2.9B | $836M |
| Trailing P/EPrice ÷ TTM EPS | 6.85x | 19.26x |
| Forward P/EPrice ÷ next-FY EPS est. | 12.91x | 25.04x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 5.08x | 14.62x |
| Price / SalesMarket cap ÷ Revenue | 2.26x | 2.43x |
| Price / BookPrice ÷ Book value/share | 1.06x | 0.74x |
| Price / FCFMarket cap ÷ FCF | 7.69x | — |
Profitability & Efficiency
MNR delivers a 14.8% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $2 for TXO. TXO carries lower financial leverage with a 0.26x debt-to-equity ratio, signaling a more conservative balance sheet compared to MNR's 0.64x. On the Piotroski fundamental quality scale (0–9), MNR scores 5/9 vs TXO's 4/9, reflecting solid financial health.
| Metric | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|
| ROE (TTM)Return on equity | +14.8% | +2.3% |
| ROA (TTM)Return on assets | +7.7% | +1.2% |
| ROICReturn on invested capital | +11.7% | -0.8% |
| ROCEReturn on capital employed | +14.5% | -0.8% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 4 |
| Debt / EquityFinancial leverage | 0.64x | 0.26x |
| Net DebtTotal debt minus cash | $660M | $150M |
| Cash & Equiv.Liquid assets | $106M | $7M |
| Total DebtShort + long-term debt | $766M | $157M |
| Interest CoverageEBIT ÷ Interest expense | 2.60x | 2.16x |
Total Returns (with DRIP)
A $10,000 investment in MNR five years ago would be worth $10,191 today (with dividends reinvested), compared to $8,373 for TXO. Over the past 12 months, MNR leads with a +0.9% total return vs TXO's -25.5%. The 3-year compound annual growth rate (CAGR) favors MNR at 0.6% vs TXO's -8.6% — a key indicator of consistent wealth creation.
| Metric | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|
| YTD ReturnYear-to-date | +20.4% | +13.9% |
| 1-Year ReturnPast 12 months | +0.9% | -25.5% |
| 3-Year ReturnCumulative with dividends | +1.9% | -23.6% |
| 5-Year ReturnCumulative with dividends | +1.9% | -16.3% |
| 10-Year ReturnCumulative with dividends | +1.9% | -16.3% |
| CAGR (3Y)Annualised 3-year return | +0.6% | -8.6% |
Risk & Volatility
TXO is the less volatile stock with a 0.46 beta — it tends to amplify market swings less than MNR's 0.68 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MNR currently trades 81.8% from its 52-week high vs TXO's 61.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.68x | 0.46x |
| 52-Week HighHighest price in past year | $15.91 | $20.24 |
| 52-Week LowLowest price in past year | $10.46 | $10.12 |
| % of 52W HighCurrent price vs 52-week peak | +81.8% | +61.9% |
| RSI (14)Momentum oscillator 0–100 | 55.4 | 60.2 |
| Avg Volume (50D)Average daily shares traded | 295K | 192K |
Analyst Outlook
Wall Street rates MNR as "Buy" and TXO as "Strong Buy". Consensus price targets imply 47.8% upside for TXO (target: $19) vs 45.9% for MNR (target: $19). For income investors, MNR offers the higher dividend yield at 24.36% vs TXO's 18.87%.
| Metric | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Strong Buy |
| Price TargetConsensus 12-month target | $19.00 | $18.50 |
| # AnalystsCovering analysts | 15 | 2 |
| Dividend YieldAnnual dividend ÷ price | +24.4% | +18.9% |
| Dividend StreakConsecutive years of raises | 1 | 5 |
| Dividend / ShareAnnual DPS | $3.17 | $2.36 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Oct 23 | Feb 26 | Change |
|---|---|---|---|
| Mach Natural Resour… (MNR) | 100 | 63.36 | -36.6% |
| TXO Partners, L.P. (TXO) | 100 | 60.78 | -39.2% |
Mach Natural Resour… (MNR) returned +2% over 5 years vs TXO Partners, L.P. (TXO)'s -16%. A $10,000 investment in MNR 5 years ago would be worth $10,191 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2020 | 2024 | Change |
|---|---|---|---|
| Mach Natural Resour… (MNR) | $392M | $970M | +147.0% |
| TXO Partners, L.P. (TXO) | $109M | $283M | +160.0% |
TXO Partners, L.P.'s revenue grew from $109M (2020) to $283M (2024) — a 27.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2020 | 2024 | Change |
|---|---|---|---|
| Mach Natural Resour… (MNR) | 35.3% | 19.1% | -45.8% |
| TXO Partners, L.P. (TXO) | -150.1% | 8.3% | +105.5% |
TXO Partners, L.P.'s net margin went from -150% (2020) to 8% (2024).
Chart 4EPS Growth — 10 Years
| Stock | 2020 | 2024 | Change |
|---|---|---|---|
| Mach Natural Resour… (MNR) | 1.46 | 1.9 | +30.1% |
| TXO Partners, L.P. (TXO) | -6.53 | 0.65 | +110.0% |
TXO Partners, L.P.'s EPS grew from $-6.53 (2020) to $0.65 (2024).
Chart 5Free Cash Flow — 5 Years
Mach Natural Resources LP generated $285M FCF in 2024 (+81% vs 2021). TXO Partners, L.P. generated $-156M FCF in 2024 (-7% vs 2021).
MNR vs TXO: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is MNR or TXO a better buy right now?
Mach Natural Resources LP (MNR) offers the better valuation at 6.9x trailing P/E (12.9x forward), making it the more compelling value choice. Analysts rate TXO Partners, L.P. (TXO) a "Strong Buy" — based on 2 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MNR or TXO?
On trailing P/E, Mach Natural Resources LP (MNR) is the cheapest at 6.9x versus TXO Partners, L.P. at 19.3x. On forward P/E, Mach Natural Resources LP is actually cheaper at 12.9x.
03Which is the better long-term investment — MNR or TXO?
Over the past 5 years, Mach Natural Resources LP (MNR) delivered a total return of +1.9%, compared to -16.3% for TXO Partners, L.P. (TXO). A $10,000 investment in MNR five years ago would be worth approximately $10K today (assuming dividends reinvested). Over 10 years, the gap is even starker: MNR returned +1.9% versus TXO's -16.3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MNR or TXO?
By beta (market sensitivity over 5 years), TXO Partners, L.P. (TXO) is the lower-risk stock at 0.46β versus Mach Natural Resources LP's 0.68β — meaning MNR is approximately 46% more volatile than TXO relative to the S&P 500. On balance sheet safety, TXO Partners, L.P. (TXO) carries a lower debt/equity ratio of 26% versus 64% for Mach Natural Resources LP — giving it more financial flexibility in a downturn.
05Which has better profit margins — MNR or TXO?
Mach Natural Resources LP (MNR) is the more profitable company, earning 19.1% net margin versus 8.3% for TXO Partners, L.P. — meaning it keeps 19.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MNR leads at 30.0% versus -2.4% for TXO. At the gross margin level — before operating expenses — MNR leads at 34.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is MNR or TXO more undervalued right now?
On forward earnings alone, Mach Natural Resources LP (MNR) trades at 12.9x forward P/E versus 25.0x for TXO Partners, L.P. — 12.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TXO: 47.8% to $18.50.
07Which pays a better dividend — MNR or TXO?
All stocks in this comparison pay dividends. Mach Natural Resources LP (MNR) offers the highest yield at 24.4%, versus 18.9% for TXO Partners, L.P. (TXO).
08Is MNR or TXO better for a retirement portfolio?
For long-horizon retirement investors, TXO Partners, L.P. (TXO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.46), 18.9% yield). Both have compounded well over 10 years (TXO: -16.3%, MNR: +1.9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between MNR and TXO?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: MNR is a small-cap deep-value stock; TXO is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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