Natural Resource Partners Lp

Energy
Coal Mining
www.nrplp.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.32B
PE 8
Debt $156.54M
Cash $30.44M
EV $1.44B
FCF $248.49M

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$154.91M
EBIT	$199.20M
ROE	28%
ROA	26%
FCF	$248.49M
Equity	$551.11M
Growth Stability	-292%
PE	8.49
PEG	0.16
PB	2.39
P/FCF	5.29
P/S	5.66
Price/Cash	0.02
Debt/Equity	0.28
Debt/FCF	0.63
Net Margins	67%
Gross Margins	88%
Op. Margins	86%
Earnings CAGR	9%
Sales Growth YoY	-15%
Sales Growth QoQ	23%
Sales CAGR	-0%
FCF CAGR	13%
Equity CAGR	13%
Earnings Stability	0.2
Earnings Growth YoY	-32%
Earnings Growth QoQ	58%

Earnings CAGR 5Y	54%
Sales CAGR 5Y	13%
FCF CAGR 5Y	34%
Equity CAGR 5Y	27%
Earnings CAGR 3Y	-9%
Sales CAGR 3Y	-9%
FCF CAGR 3Y	14%
Equity CAGR 3Y	18%
Market Cap	$1.32B
Revenue	$232.35M
Assets	$772.91M
Total Debt	$156.54M
Cash	$30.44M
Shares Outstanding	13.25M
EV	1.44B
Earnings Score	10%
Moat Score	98%
Safety Score	65%
Final Score	58%
Working Capital	32.01M
Current Ratio	2
Gross Profit	$204.32M
Shares Growth 3y	2%
Equity Growth QoQ	7%
Equity Growth YoY	4%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

Natural Resources Partners LP is a diversified natural resource company. It is primarily engaged in the business of owning, managing and leasing a diversified portfolio of mineral properties in the United States, including interests in coal, trona and soda ash, crude oil and natural gas, construction aggregates, frac sand, and other natural resources. The company leases coal reserves to experience mine operators under long-term leases that grant the operator the right to mine its coal reserves in exchange for royalty payments. The company operates in two reportable segments namely: Mineral Rights and Soda Ash. the majority of the revenue is generated from the Mineral Rights segment. The business activity of the group primarily functions through the United States.

SEC Filings

Direct access to Natural Resource Partners Lp (NRP) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Natural Resource Partners Lp compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Natural Resource Partners Lp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 9%

Stability 20%

loading chart...

Natural Resource Partners Lp Discounted Cash Flow

Fully customizable DCF calculator online for Natural Resource Partners Lp.

Years

Calculation mode

= $6.2B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$248M	$281M	$318M	$360M	$408M	$461M	$522M	$591M	$668M	$756M	$856M	$8.6B
DCF		$256M	$263M	$271M	$278M	$286M	$295M	$303M	$312M	$321M	$330M	$3.3B
Value	$6.2B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-117%	39%	26%	44%	-21%	-82%	36%	78%	72%	67%	67%
ROA	-	13%	13%	14%	5%	-5%	15%	35%	37%	26%	26%
ROE	-	64%	24%	26%	-16%	-56%	30%	50%	38%	28%	28%

Good Net Margins (66.67%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	12.46	7.55	4.25	3.96	5.79	3.92	0.78	0.6	0.63	0.63
Debt over Equity	19.23	8.43	3.42	1.89	1.68	2.53	1.87	0.44	0.35	0.28	0.28
Growth Stability	-	-	-	-	-61%	-292%	-	-	100%	90%	-292%

Good Debt/FCF ratio (0.63)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.28)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-292%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-49%	-3%	3%	3%	-46%	55%	42%	-9%	-17%	13%
Earnings YoY growth	-	-117%	-35%	73%	-150%	111%	-167%	209%	-16%	-23%	54%
Equity YoY growth	-	99%	75%	60%	-20%	-40%	25%	86%	11%	4%	27%
FCF YoY growth	-	-35%	17%	57%	-24%	-38%	36%	119%	17%	-20%	34%