The company's debt-funded acquisition strategy has increased total debt to $1.2B as of 2026Q1, resulting in a debt-to-equity ratio of 0.62.
| Total Current Assets | 342.41M | 377.95M | 322.1M | 343.6M | 186.23M | 178.47M |
| Cash & Short-Term Investments | 52.69M | 42.63M | 105.78M | 152.79M | 29.42M | 59.27M |
| Cash Only | 52.69M | 42.63M | 105.78M | 152.79M | 29.42M | 59.27M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 229.27M | 230.42M | 171.55M | 132.21M | 129.77M | 93.88M |
| Days Sales Outstanding | 56.2 | 71.55 | 64.58 | 63.3 | 50.53 | 87.3 |
| Inventory | 42.46M | 43.51M | 24.3M | 31.38M | 24.7M | 4.94M |
| Days Inventory Outstanding | 17.5 | 20.27 | 13.91 | 30.5 | 23.14 | 10.24 |
| Other Current Assets | 18M | 61.39M | 20.47M | 27.23M | 2.35M | 20.38M |
| Total Non-Current Assets | 3.35B | 3.4B | 2.02B | 1.96B | 701.21M | 346.9M |
| Property, Plant & Equipment | 3.32B | 3.35B | 2.01B | 1.94B | 698.16M | 343.18M |
| Fixed Asset Turnover | 0.44x | 0.35x | 0.48x | 0.39x | 1.34x | 1.14x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 24.92M | 12.49M | 640K | 15.11M | 0 | 0 |
| Other Non-Current Assets | 30.4M | 34M | 9.49M | 7.1M | 3.05M | 3.72M |
| Total Assets | 3.69B | 3.78B | 2.34B | 2.3B | 887.44M | 525.38M |
| Asset Turnover | 0.39x | 0.31x | 0.41x | 0.33x | 1.06x | 0.75x |
| Asset Growth % | 192.87% | 61.55% | 1.46% | 159.68% | 68.91% | - |
| Total Current Liabilities | 411.38M | 359.92M | 352.42M | 274.91M | 153.06M | 129.44M |
| Accounts Payable | 84.94M | 69.62M | 52.44M | 44.58M | 19.43M | 7.58M |
| Days Payables Outstanding | 31.4 | 32.44 | 30.01 | 43.33 | 18.2 | 15.71 |
| Short-Term Debt | 7.49M | 6.91M | 82.5M | 61.88M | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 310.48M | 274.15M | 6.38M | 0 | 10.98M | 45.6M |
| Current Ratio | 0.83x | 1.05x | 0.91x | 1.25x | 1.22x | 1.38x |
| Quick Ratio | 0.73x | 0.93x | 0.84x | 1.14x | 1.06x | 1.34x |
| Cash Conversion Cycle | 42.31 | 59.39 | 48.47 | 50.47 | 55.47 | 81.84 |
| Total Non-Current Liabilities | 1.43B | 1.43B | 786.75M | 837.88M | 141.57M | 117.24M |
| Long-Term Debt | 1.13B | 1.14B | 668.78M | 745.14M | 84.9M | 85.8M |
| Capital Lease Obligations | 49.88M | 12.64M | 9.3M | 6.71M | 4.04M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 286.33M | 271.3M | 108.67M | 86.04M | 52.63M | 31.44M |
| Total Liabilities | 1.84B | 1.79B | 1.14B | 1.11B | 294.21M | 246.68M |
| Total Debt | 1.15B | 1.16B | 766.17M | 824.49M | 99.71M | 85.8M |
| Net Debt | 1.1B | 1.12B | 660.39M | 671.69M | 70.29M | 26.53M |
| Debt / Equity | 0.62x | 0.58x | 0.64x | 0.69x | 0.17x | 0.31x |
| Debt / EBITDA | 1.65x | 1.85x | 1.36x | 1.66x | 0.16x | 0.44x |
| Net Debt / EBITDA | 1.58x | 1.78x | 1.18x | 1.35x | 0.12x | 0.14x |
| Interest Coverage | 10.50x | 2.98x | 2.77x | 31.94x | 107.52x | 84.56x |
| Total Equity | 1.85B | 1.99B | 1.2B | 1.19B | 593.23M | 278.7M |
| Equity Growth % | 183.95% | 65.91% | 0.61% | 100.89% | 112.86% | - |
| Book Value per Share | 10.98 | 15.12 | 12.27 | 12.56 | 6.24 | 2.93 |
| Total Shareholders' Equity | 1.85B | 1.99B | 1.2B | 1.19B | 593.23M | 278.7M |
| Common Stock | 0 | 0 | 1.2B | 1.19B | 593.23M | 278.7M |
| Retained Earnings | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Asset Maintenance and Liquidity
As reported in recent financial filings, MNR's total assets surged from $2.3B in 2025Q2 to $3.7B by 2026Q1, a rapid expansion driven by inorganic acquisitions that has fundamentally altered the company's balance sheet composition and increased its reliance on external financing to sustain growth.
The aggressive growth in asset base appears to be a strategic effort to scale the PDP-heavy portfolio, yet this trajectory warrants caution as it coincides with a tightening of the current ratio. Investors should monitor whether this rapid asset accumulation creates long-term value or merely masks the underlying depletion of existing wellbores.
Based on the company's reported figures, total debt climbed from $473.8M in 2025Q1 to $1.2B by 2026Q1, reflecting a strategic shift toward debt-funded expansion that has pushed the debt-to-equity ratio to 0.62, signaling a departure from the company's previously more conservative capital structure.
While the current leverage remains manageable relative to the expanded asset base, the rapid increase in debt obligations may limit future financial flexibility. The reliance on debt to fund acquisitions suggests that management is prioritizing scale, which may increase sensitivity to interest rate fluctuations and commodity price volatility.
According to the latest balance sheet data, net PPE accounts for nearly 89% of total assets at $3.3B as of 2026Q1, confirming that MNR remains an asset-heavy operator with minimal diversification into non-production-related assets or intangible holdings that could provide a buffer during industry downturns.
This high concentration in physical infrastructure underscores the company's exposure to the operational risks of the Anadarko Basin. The lack of goodwill or significant intangible assets suggests that the company's valuation is almost entirely dependent on the physical performance and reserve life of its mature wellbores.
As indicated by the provided financial statements, the current ratio has compressed from 1.25 in 2023Q4 to 0.83 in 2026Q1, suggesting that the company's ability to cover short-term obligations is narrowing as it aggressively deploys cash into new asset acquisitions and infrastructure maintenance.
The decline in cash reserves to $52.7M in 2026Q1, down from a peak of $184.5M in 2024Q3, indicates that liquidity is being prioritized for growth rather than as a safety buffer. This trend may leave the company vulnerable to unexpected operational disruptions or sudden shifts in regional commodity pricing.
Quick answers to the most common questions about buying MNR stock.
As of 2025, Mach Natural Resources LP (MNR) had total assets of $3.78B including $378.0M in current assets.
Mach Natural Resources LP (MNR) carries total debt of $1.16B, offset by $42.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Mach Natural Resources LP (MNR) has total shareholders' equity (book value) of $1.99B ($15.12 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Mach Natural Resources LP (MNR) reported a current ratio of 1.05x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.