Natural Resource Partners L.P. (NRP) Financial Ratios
25 years of historical data (2001–2025) · Energy · Coal
EV/EBITDA
↑
9.91
↑+63% vs avg
5yr avg: 6.06
30Y Low3.7·High25.6
P/FCF
↑
9.20
↑+68% vs avg
5yr avg: 5.49
30Y Low1.0·High59.1
P/B Ratio
↑
2.42
+17% vs avg
5yr avg: 2.07
30Y Low0.5·High3.7
ROE
↓
22.6%
↑-36% vs avg
5yr avg: 35.3%
30Y Low-146%·High117%
Debt/EBITDA
↓
0.21
↓-76% vs avg
5yr avg: 0.90
30Y Low0.2·High7.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NRP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Natural Resource Partners L.P. trades at 11.5x earnings, 58% above its 5-year average of 7.3x, sitting at the 52nd percentile of its historical range. Compared to the Energy sector median P/E of 16.9x, the stock trades at a discount of 32%. On a free-cash-flow basis, the stock trades at 9.2x P/FCF, 68% above the 5-year average of 5.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.5B | $1.4B | $1.5B | $1.5B | $1.1B | $526M | $169M | $247M | $533M | $407M | $395M |
| Enterprise Value | $1.5B | $1.4B | $1.6B | $1.6B | $1.2B | $824M | $540M | $668M | $1.1B | $1.2B | $1.5B |
| P/E Ratio → | 11.48 | 10.40 | 9.78 | 7.08 | 4.08 | 4.93 | — | — | 4.35 | 6.57 | 4.15 |
| P/S Ratio | 7.55 | 6.85 | 6.06 | 5.07 | 3.27 | 2.71 | 1.31 | 1.17 | 2.63 | 1.22 | 1.19 |
| P/B Ratio | 2.42 | 2.19 | 2.69 | 2.58 | 1.67 | 1.20 | 0.45 | 0.49 | 1.51 | 2.07 | 2.65 |
| P/FCF | 9.20 | 8.36 | 5.97 | 4.79 | 4.02 | 4.32 | 1.89 | 1.80 | 2.82 | 3.39 | 3.85 |
| P/OCF | 9.20 | 8.36 | 5.97 | 4.79 | 4.02 | 4.32 | 1.89 | 1.80 | 2.82 | 3.20 | 3.66 |
P/E links to full P/E history page with 30-year chart
NRP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Natural Resource Partners L.P.'s enterprise value stands at 9.9x EBITDA, 63% above its 5-year average of 6.1x. The Energy sector median is 8.1x, placing the stock at a 22% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.87 | 6.51 | 5.58 | 3.68 | 4.24 | 4.19 | 3.18 | 5.45 | 3.56 | 4.48 |
| EV / EBITDA | 9.91 | 9.00 | 7.43 | 5.26 | 3.68 | 4.94 | — | 10.08 | 5.16 | 5.73 | 6.38 |
| EV / EBIT | 10.97 | 9.63 | 8.01 | 5.60 | 4.09 | 5.58 | — | 30.32 | 5.74 | 7.23 | 7.94 |
| EV / FCF | — | 8.38 | 6.42 | 5.26 | 4.52 | 6.77 | 6.05 | 4.87 | 5.85 | 9.92 | 14.44 |
NRP Profitability
Margins and return-on-capital ratios measuring operating efficiency
Natural Resource Partners L.P. earns an operating margin of 68.9%, significantly above the Energy sector average of 14.5%. Operating margins have compressed from 99.6% to 68.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 22.6% indicates solid capital efficiency, compared to the sector median of 7.9%. ROIC of 16.1% represents solid returns on invested capital versus a sector median of 6.4%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.2% | 81.2% | 100.0% | 89.0% | 93.1% | 90.2% | 92.9% | 92.9% | 89.3% | 89.2% | 86.0% |
| Operating Margin | 68.9% | 68.9% | 81.3% | 99.6% | 93.0% | 76.1% | -34.0% | 24.4% | 95.0% | 55.1% | 56.1% |
| Net Profit Margin | 66.0% | 66.0% | 74.9% | 93.4% | 81.8% | 56.1% | -65.7% | -11.6% | 68.8% | 26.6% | 29.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.6% | 22.6% | 32.5% | 45.0% | 49.6% | 26.8% | -19.4% | -5.7% | 50.9% | 51.3% | 86.3% |
| ROA | 17.6% | 17.6% | 23.4% | 32.8% | 29.3% | 11.6% | -8.4% | -2.0% | 10.2% | 6.3% | 6.2% |
| ROIC | 16.1% | 16.1% | 21.5% | 29.2% | 30.3% | 15.0% | -3.9% | 4.2% | 15.2% | 12.5% | 10.5% |
| ROCE | 19.1% | 19.1% | 26.8% | 37.4% | 35.8% | 16.9% | -4.7% | 4.6% | 15.6% | 14.6% | 13.3% |
NRP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Natural Resource Partners L.P. carries a Debt/EBITDA ratio of 0.2x, which is very conservative (91% below the sector average of 2.4x). Net debt stands at $3M ($33M total debt minus $30M cash). Interest coverage of 18.1x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.26 | 0.28 | 0.27 | 0.99 | 1.26 | 1.04 | 1.91 | 4.12 | 7.56 |
| Debt / EBITDA | 0.21 | 0.21 | 0.66 | 0.51 | 0.52 | 2.60 | — | 7.84 | 3.14 | 3.90 | 4.85 |
| Net Debt / Equity | — | 0.00 | 0.20 | 0.25 | 0.21 | 0.68 | 1.00 | 0.84 | 1.62 | 3.98 | 7.29 |
| Net Debt / EBITDA | 0.02 | 0.02 | 0.52 | 0.47 | 0.40 | 1.79 | — | 6.36 | 2.67 | 3.77 | 4.68 |
| Debt / FCF | — | 0.02 | 0.45 | 0.47 | 0.50 | 2.45 | 4.16 | 3.07 | 3.02 | 6.53 | 10.59 |
| Interest Coverage | 18.08 | 18.08 | 12.81 | 20.74 | 11.22 | 3.80 | -1.07 | 0.46 | 2.74 | 1.98 | 2.06 |
NRP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.85x means Natural Resource Partners L.P. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.11x to 1.85x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.85 | 1.85 | 2.00 | 1.11 | 1.39 | 2.53 | 1.91 | 2.11 | 1.63 | 0.76 | 0.56 |
| Quick Ratio | 1.85 | 1.85 | 2.00 | 1.11 | 1.39 | 2.53 | 1.91 | 2.11 | 1.63 | 0.70 | 0.52 |
| Cash Ratio | 0.91 | 0.91 | 0.96 | 0.24 | 0.65 | 2.10 | 1.63 | 1.57 | 0.68 | 0.22 | 0.21 |
| Asset Turnover | — | 0.27 | 0.32 | 0.37 | 0.37 | 0.20 | 0.14 | 0.19 | 0.15 | 0.24 | 0.23 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | 4.77 | 6.71 |
| Days Sales Outstanding | — | 51.71 | 46.88 | 51.23 | 47.51 | 47.55 | 44.22 | 53.72 | 62.18 | 26.48 | 55.00 |
NRP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Natural Resource Partners L.P. returns 3.7% to shareholders annually primarily through dividends. A payout ratio of 42.2% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 8.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.7% | 4.1% | 4.9% | 4.7% | 3.2% | 4.3% | 10.0% | 13.4% | 4.2% | 5.5% | 5.7% |
| Payout Ratio | 42.2% | 42.2% | 39.3% | 25.5% | 12.8% | 20.8% | — | — | 16.1% | 25.3% | 23.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.7% | 9.6% | 10.2% | 14.1% | 24.5% | 20.3% | — | — | 23.0% | 15.2% | 24.1% |
| FCF Yield | 10.9% | 12.0% | 16.7% | 20.9% | 24.8% | 23.1% | 53.0% | 55.6% | 35.4% | 29.5% | 26.0% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.7% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.7% | 4.1% | 4.9% | 4.7% | 3.2% | 4.3% | 10.0% | 13.4% | 5.9% | 5.5% | 5.7% |
| Shares Outstanding | — | $13M | $13M | $16M | $20M | $16M | $12M | $12M | $14M | $16M | $12M |
Peer Comparison
Compare NRP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NRPYou | $2B | 11.5 | 9.9 | 9.2 | 81.2% | 68.9% | 22.6% | 16.1% | 0.2 |
 ARLP | $3B | 10.6 | 5.4 | 8.5 | 21.3% | 17.6% | 16.8% | 12.9% | 0.7 |
 HCC | $5B | 81.1 | 19.5 | — | 8.5% | 3.5% | 2.7% | 1.8% | 1.1 |
 AMR | $3B | 13.8 | 5.2 | 6.7 | 11.2% | 7.7% | 11.6% | 13.7% | 0.0 |
 FANG | $55B | 34.0 | 7.0 | 10.5 | 35.2% | 32.7% | 4.0% | 6.7% | 1.5 |
 BSM | $3B | 10.6 | 10.1 | 9.7 | 74.9% | 61.8% | 26.6% | 16.1% | 0.5 |
 VVV | $4B | 20.8 | 13.9 | 114.4 | 38.5% | 18.0% | 80.4% | 12.5% | 3.9 |
 VNOM | $18B | -99.4 | 16.9 | — | 47.9% | 43.0% | -1.0% | 5.0% | 1.8 |
 BTU | $3B | -58.0 | 7.1 | 5.8 | 2.7% | 0.0% | -1.5% | 0.0% | 1.2 |
 CNX | $5B | 9.2 | 5.6 | 9.7 | 47.2% | 36.8% | 15.0% | 9.0% | 1.8 |
 SXC | $615M | -13.9 | 5.5 | 14.5 | 7.1% | 3.5% | -6.6% | 4.3% | 3.1 |
| Energy Median | — | 16.9 | 8.1 | 14.1 | 32.7% | 14.5% | 7.9% | 6.4% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 25 years · Updated daily
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Side-by-side business, growth, and profitability comparison vs Alliance Resource Partners, L.P..
Start ComparisonNRP — Frequently Asked Questions
Quick answers to the most common questions about buying NRP stock.
What is Natural Resource Partners L.P.'s P/E ratio?
Natural Resource Partners L.P.'s current P/E ratio is 11.5x. The historical average is 17.8x. This places it at the 52th percentile of its historical range.
What is Natural Resource Partners L.P.'s EV/EBITDA?
Natural Resource Partners L.P.'s current EV/EBITDA is 9.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.7x.
What is Natural Resource Partners L.P.'s ROE?
Natural Resource Partners L.P.'s return on equity (ROE) is 22.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 21.7%.
Is NRP stock overvalued?
Based on historical data, Natural Resource Partners L.P. is trading at a P/E of 11.5x. This is at the 52th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Natural Resource Partners L.P.'s dividend yield?
Natural Resource Partners L.P.'s current dividend yield is 3.69% with a payout ratio of 42.2%.
What are Natural Resource Partners L.P.'s profit margins?
Natural Resource Partners L.P. has 81.2% gross margin and 68.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Natural Resource Partners L.P. have?
Natural Resource Partners L.P.'s Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.