Oil & Gas Midstream
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VNOM vs NRP
Revenue, margins, valuation, and 5-year total return — side by side.
Coal
VNOM vs NRP — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Oil & Gas Midstream | Coal |
| Market Cap | $17.62B | $1.50B |
| Revenue (TTM) | $1.60B | $185M |
| Net Income (TTM) | $-46M | $95M |
| Gross Margin | 46.3% | 69.9% |
| Operating Margin | 43.1% | 67.0% |
| Forward P/E | 20.7x | 23.9x |
| Total Debt | $2.19B | $33M |
| Cash & Equiv. | $13M | $30M |
VNOM vs NRP — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Viper Energy, Inc. (VNOM) | 100 | 447.9 | +347.9% |
| Natural Resource Pa… (NRP) | 100 | 779.5 | +679.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: VNOM vs NRP
Each card shows where this stock fits in a portfolio — not just who wins on paper.
VNOM carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 0 yrs, beta 0.38, yield 4.9%
- Rev growth 56.6%, EPS growth -112.6%, 3Y rev CAGR 15.8%
- Beta 0.38, yield 4.9%, current ratio 3.72x
NRP is the clearest fit if your priority is long-term compounding and sleep-well-at-night.
- 9.7% 10Y total return vs VNOM's 245.5%
- Lower volatility, beta 0.01, Low D/E 5.2%, current ratio 1.85x
- 51.6% margin vs VNOM's -2.9%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 56.6% revenue growth vs NRP's -17.4% | |
| Value | Lower P/E (20.7x vs 23.9x) | |
| Quality / Margins | 51.6% margin vs VNOM's -2.9% | |
| Stability / Safety | Beta 0.01 vs VNOM's 0.38, lower leverage | |
| Dividends | 4.9% yield, vs NRP's 3.8% | |
| Momentum (1Y) | +25.0% vs NRP's +17.8% | |
| Efficiency (ROA) | 12.6% ROA vs VNOM's -0.4%, ROIC 16.1% vs 5.0% |
VNOM vs NRP — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
VNOM vs NRP — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
NRP leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
VNOM is the larger business by revenue, generating $1.6B annually — 8.7x NRP's $185M. NRP is the more profitable business, keeping 51.6% of every revenue dollar as net income compared to VNOM's -2.9%. On growth, VNOM holds the edge at +102.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $1.6B | $185M |
| EBITDAEarnings before interest/tax | $1.4B | $142M |
| Net IncomeAfter-tax profit | -$46M | $95M |
| Free Cash FlowCash after capex | -$4.4B | $164M |
| Gross MarginGross profit ÷ Revenue | +46.3% | +69.9% |
| Operating MarginEBIT ÷ Revenue | +43.1% | +67.0% |
| Net MarginNet income ÷ Revenue | -2.9% | +51.6% |
| FCF MarginFCF ÷ Revenue | -2.8% | +89.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +102.4% | -29.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -14.5% | -100.0% |
Valuation Metrics
VNOM leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, NRP's 9.7x EV/EBITDA is more attractive than VNOM's 16.7x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $17.6B | $1.5B |
| Enterprise ValueMkt cap + debt − cash | $19.8B | $1.5B |
| Trailing P/EPrice ÷ TTM EPS | -97.88x | 11.26x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.74x | 23.94x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 16.69x | 9.72x |
| Price / SalesMarket cap ÷ Revenue | 13.09x | 7.40x |
| Price / BookPrice ÷ Book value/share | 0.65x | 2.37x |
| Price / FCFMarket cap ÷ FCF | — | 9.03x |
Profitability & Efficiency
NRP leads this category, winning 9 of 9 comparable metrics.
Profitability & Efficiency
NRP delivers a 15.4% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $-0 for VNOM. NRP carries lower financial leverage with a 0.05x debt-to-equity ratio, signaling a more conservative balance sheet compared to VNOM's 0.21x. On the Piotroski fundamental quality scale (0–9), NRP scores 5/9 vs VNOM's 3/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -0.5% | +15.4% |
| ROA (TTM)Return on assets | -0.4% | +12.6% |
| ROICReturn on invested capital | +5.0% | +16.1% |
| ROCEReturn on capital employed | +6.6% | +19.1% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 |
| Debt / EquityFinancial leverage | 0.21x | 0.05x |
| Net DebtTotal debt minus cash | $2.2B | $3M |
| Cash & Equiv.Liquid assets | $13M | $30M |
| Total DebtShort + long-term debt | $2.2B | $33M |
| Interest CoverageEBIT ÷ Interest expense | 2.67x | 23.35x |
Total Returns (Dividends Reinvested)
NRP leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NRP five years ago would be worth $73,134 today (with dividends reinvested), compared to $30,312 for VNOM. Over the past 12 months, VNOM leads with a +25.0% total return vs NRP's +17.8%. The 3-year compound annual growth rate (CAGR) favors NRP at 36.3% vs VNOM's 25.6% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +22.5% | +9.5% |
| 1-Year ReturnPast 12 months | +25.0% | +17.8% |
| 3-Year ReturnCumulative with dividends | +98.1% | +153.3% |
| 5-Year ReturnCumulative with dividends | +203.1% | +631.3% |
| 10-Year ReturnCumulative with dividends | +245.5% | +971.6% |
| CAGR (3Y)Annualised 3-year return | +25.6% | +36.3% |
Risk & Volatility
Evenly matched — VNOM and NRP each lead in 1 of 2 comparable metrics.
Risk & Volatility
NRP is the less volatile stock with a 0.01 beta — it tends to amplify market swings less than VNOM's 0.38 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. VNOM currently trades 91.9% from its 52-week high vs NRP's 87.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.38x | 0.01x |
| 52-Week HighHighest price in past year | $51.13 | $128.60 |
| 52-Week LowLowest price in past year | $35.10 | $91.79 |
| % of 52W HighCurrent price vs 52-week peak | +91.9% | +87.9% |
| RSI (14)Momentum oscillator 0–100 | 50.6 | 39.9 |
| Avg Volume (50D)Average daily shares traded | 2.9M | 33K |
Analyst Outlook
VNOM leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates VNOM as "Buy" and NRP as "Hold". For income investors, VNOM offers the higher dividend yield at 4.90% vs NRP's 3.76%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $54.20 | — |
| # AnalystsCovering analysts | 42 | 10 |
| Dividend YieldAnnual dividend ÷ price | +4.9% | +3.8% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $2.30 | $4.25 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.1% | 0.0% |
NRP leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). VNOM leads in 2 (Valuation Metrics, Analyst Outlook). 1 tied.
VNOM vs NRP: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is VNOM or NRP a better buy right now?
For growth investors, Viper Energy, Inc.
(VNOM) is the stronger pick with 56. 6% revenue growth year-over-year, versus -17. 4% for Natural Resource Partners L. P. (NRP). Natural Resource Partners L. P. (NRP) offers the better valuation at 11. 3x trailing P/E (23. 9x forward), making it the more compelling value choice. Analysts rate Viper Energy, Inc. (VNOM) a "Buy" — based on 42 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 — VNOM or NRP?
On forward P/E, Viper Energy, Inc.
is actually cheaper at 20. 7x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — VNOM or NRP?
Over the past 5 years, Natural Resource Partners L.
P. (NRP) delivered a total return of +631. 3%, compared to +203. 1% for Viper Energy, Inc. (VNOM). Over 10 years, the gap is even starker: NRP returned +971. 6% versus VNOM's +245. 5%. 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 — VNOM or NRP?
By beta (market sensitivity over 5 years), Natural Resource Partners L.
P. (NRP) is the lower-risk stock at 0. 01β versus Viper Energy, Inc. 's 0. 38β — meaning VNOM is approximately 4007% more volatile than NRP relative to the S&P 500. On balance sheet safety, Natural Resource Partners L. P. (NRP) carries a lower debt/equity ratio of 5% versus 21% for Viper Energy, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — VNOM or NRP?
By revenue growth (latest reported year), Viper Energy, Inc.
(VNOM) is pulling ahead at 56. 6% versus -17. 4% for Natural Resource Partners L. P. (NRP). On earnings-per-share growth, the picture is similar: Natural Resource Partners L. P. grew EPS -11. 5% year-over-year, compared to -112. 6% for Viper Energy, Inc.. Over a 3-year CAGR, VNOM leads at 15. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — VNOM or NRP?
Natural Resource Partners L.
P. (NRP) is the more profitable company, earning 66. 0% net margin versus -5. 1% for Viper Energy, Inc. — meaning it keeps 66. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NRP leads at 68. 9% versus 43. 0% for VNOM. At the gross margin level — before operating expenses — NRP leads at 81. 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.
07Is VNOM or NRP more undervalued right now?
On forward earnings alone, Viper Energy, Inc.
(VNOM) trades at 20. 7x forward P/E versus 23. 9x for Natural Resource Partners L. P. — 3. 2x cheaper on a one-year earnings basis.
08Which pays a better dividend — VNOM or NRP?
All stocks in this comparison pay dividends.
Viper Energy, Inc. (VNOM) offers the highest yield at 4. 9%, versus 3. 8% for Natural Resource Partners L. P. (NRP).
09Is VNOM or NRP better for a retirement portfolio?
For long-horizon retirement investors, Natural Resource Partners L.
P. (NRP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 01), 3. 8% yield, +971. 6% 10Y return). Both have compounded well over 10 years (NRP: +971. 6%, VNOM: +245. 5%), 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.
10What are the main differences between VNOM and NRP?
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: VNOM is a mid-cap high-growth stock; NRP is a small-cap deep-value 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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