1.Sales and profit
See section β- Natural Resource Partners Lp made $136M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 2.9% a year.
Natural Resource Partners Lp
NRP NYSE Bituminous Coal & Lignite Surface Mining Financials FY2016βFY2025
Download report
3-page PDF: the company, its results and charts with peers.
Last close Β· Oct 23, 2026
$116.04
1.1%KIRAβs summary AI analyst
Hi! I read Natural Resource Partners Lpβs latest annual report (fiscal 2025). Here is what stands out:
3 strengths
2.Cash and shareholders
See section β- Free cash flow was $166M in fiscal 2025, β of revenue.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- Natural Resource Partners Lp owes $2.9M more than it holds in cash, about 0.0 years of operating profit.
- Natural Resource Partners Lp passes 5 of 7 financial health tests (Piotroski F-score).
Natural Resource Partners Lp in 30 seconds
Good So-so Weak
Good
Does it make a profit?
$136M
Yes. It made $136M of profit last year.
Good
Is debt under control?
0.0x
Yes. It could repay its debt with 0.0 years of operating profit.
So-so
How healthy are the accounts?
5 / 7
Mixed. It passes 5 of 7 health tests.
For information
How is the share priced?
14.8x
One share costs 14.8 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$1.5B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
14.8x
On $7.84 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Natural Resource Partners Lp did it, and the next one. Share prices often move a lot on those days.
Next results
November 4, 2026
Wednesday Β· in 9 days
- Time
- Before the market opens
- Covers
- Period ended Sep 30, 2026
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 5, 2026 | Q2 '26 | Before the market opens | 8-K β |
| May 6, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Feb 27, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 4, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Aug 6, 2025 | Q2 '25 | Before the market opens | 8-K β |
| May 6, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Feb 28, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Nov 5, 2024 | Q3 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY16
Revenue $250M
FY17
Revenue $243M
FY18
Revenue $251M
FY19
Revenue $257M
FY20
Revenue $140M
FY21
Revenue $216M
FY22
Revenue $307M
FY23
Revenue $279M
FY24
Revenue $232M
FY25
Revenue β
Revenue
Q3 '23
Revenue $68.5M
Q4 '23
Revenue $72.9M
Q1 '24
Revenue $65.6M
Q2 '24
Revenue $54.6M
Q3 '24
Revenue $50.4M
Q4 '24
Revenue $61.8M
Q1 '25
Revenue $51.3M
Q2 '25
Revenue β
Q3 '25
Revenue β
Q4 '25
Revenue β
Q1 '26
Revenue β
Q2 '26
Revenue β
Margins, % of revenue
FY16
Gross β
Operating 72.4%
Net 38.7%
FCF 43.1%
FY17
Gross β
Operating 72.7%
Net 36.5%
FCF 52.4%
FY18
Gross β
Operating 76.7%
Net 55.6%
FCF 75.2%
FY19
Gross β
Operating 19.9%
Net β9.5%
FCF β
FY20
Gross β
Operating β31.4%
Net β60.7%
FCF 63.9%
FY21
Gross β
Operating 68.4%
Net 50.4%
FCF 56.4%
FY22
Gross β
Operating 99.4%
Net 87.5%
FCF 86.9%
FY23
Gross β
Operating 105.0%
Net 99.9%
FCF 111.6%
FY24
Gross β
Operating 85.7%
Net 79.0%
FCF 106.9%
FY25
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross β
Operating 98.8%
Net 93.2%
FCF 115.2%
Q4 '23
Gross β
Operating 94.5%
Net 89.1%
FCF 106.7%
Q1 '24
Gross β
Operating 91.0%
Net 85.7%
FCF 109.0%
Q2 '24
Gross β
Operating 92.3%
Net 84.4%
FCF 103.7%
Q3 '24
Gross β
Operating 84.9%
Net 76.6%
FCF 107.4%
Q4 '24
Gross β
Operating 74.9%
Net 69.2%
FCF 107.2%
Q1 '25
Gross β
Operating 83.7%
Net 78.5%
FCF β
Q2 '25
Gross β
Operating β
Net β
FCF β
Q3 '25
Gross β
Operating β
Net β
FCF β
Q4 '25
Gross β
Operating β
Net β
FCF β
Q1 '26
Gross β
Operating β
Net β
FCF β
Q2 '26
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Natural Resource Partners Lp made $136M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 2.9% a year.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY16
Net income $96.9M
FY17
Net income $88.7M
FY18
Net income $140M
FY19
Net income β$24.5M
FY20
Net income β$84.8M
FY21
Net income $109M
FY22
Net income $268M
FY23
Net income $278M
FY24
Net income $184M
FY25
Net income $136M
Net income
Q3 '23
Net income $63.8M
Q4 '23
Net income $65.0M
Q1 '24
Net income $56.2M
Q2 '24
Net income $46.1M
Q3 '24
Net income $38.6M
Q4 '24
Net income $42.8M
Q1 '25
Net income $40.3M
Q2 '25
Net income $34.2M
Q3 '25
Net income $30.9M
Q4 '25
Net income $31.0M
Q1 '26
Net income $19.6M
Q2 '26
Net income $25.2M
Diluted EPS
FY16
Diluted EPS $7.78
FY17
Diluted EPS $3.96
FY18
Diluted EPS $6.76
FY19
Diluted EPS β$4.35
FY20
Diluted EPS β$9.20
FY21
Diluted EPS $4.81
FY22
Diluted EPS $13.39
FY23
Diluted EPS $13.08
FY24
Diluted EPS $11.35
FY25
Diluted EPS $10.04
Diluted EPS
Q3 '23
Diluted EPS $2.91
Q4 '23
Diluted EPS $4.24
Q1 '24
Diluted EPS $3.83
Q2 '24
Diluted EPS $2.29
Q3 '24
Diluted EPS $2.00
Q4 '24
Diluted EPS $3.23
Q1 '25
Diluted EPS $2.97
Q2 '25
Diluted EPS $2.52
Q3 '25
Diluted EPS $2.28
Q4 '25
Diluted EPS $2.27
Q1 '26
Diluted EPS $1.44
Q2 '26
Diluted EPS $1.85
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was $166M in fiscal 2025, β of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY16
Free cash flow $108M
FY17
Free cash flow $127M
FY18
Free cash flow $189M
FY19
Free cash flow β
FY20
Free cash flow $89.3M
FY21
Free cash flow $122M
FY22
Free cash flow $267M
FY23
Free cash flow $311M
FY24
Free cash flow $248M
FY25
Free cash flow $166M
Free cash flow
Q3 '23
Free cash flow $78.9M
Q4 '23
Free cash flow $77.8M
Q1 '24
Free cash flow $71.5M
Q2 '24
Free cash flow $56.6M
Q3 '24
Free cash flow $54.1M
Q4 '24
Free cash flow $66.2M
Q1 '25
Free cash flow β
Q2 '25
Free cash flow β
Q3 '25
Free cash flow β
Q4 '25
Free cash flow β
Q1 '26
Free cash flow β
Q2 '26
Free cash flow β
Cash from operations vs capital spending
FY16
Cash from operations $108M
Capital spending $0.0M
FY17
Cash from operations $127M
Capital spending $0.0M
FY18
Cash from operations $189M
Capital spending $0.0M
FY19
Cash from operations $137M
Capital spending β
FY20
Cash from operations $89.3M
Capital spending $0.0M
FY21
Cash from operations $122M
Capital spending $0.0M
FY22
Cash from operations $267M
Capital spending $0.1M
FY23
Cash from operations $311M
Capital spending $0.0M
FY24
Cash from operations $248M
Capital spending $0.0M
FY25
Cash from operations $166M
Capital spending $0.0M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations $78.9M
Capital spending $0.0M
Q4 '23
Cash from operations $77.8M
Capital spending $0.0M
Q1 '24
Cash from operations $71.5M
Capital spending $0.0M
Q2 '24
Cash from operations $56.6M
Capital spending $0.0M
Q3 '24
Cash from operations $54.1M
Capital spending $0.0M
Q4 '24
Cash from operations $66.2M
Capital spending $0.0M
Q1 '25
Cash from operations $34.4M
Capital spending β
Q2 '25
Cash from operations $45.6M
Capital spending β
Q3 '25
Cash from operations $41.1M
Capital spending β
Q4 '25
Cash from operations $44.8M
Capital spending β
Q1 '26
Cash from operations $33.0M
Capital spending β
Q2 '26
Cash from operations $41.0M
Capital spending β
Cash from operations
Capital spending
Dividends, buybacks and share count
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY16
Dividends β
Buybacks β
FY17
Dividends β
Buybacks β
FY18
Dividends β
Buybacks β
FY19
Dividends β
Buybacks β
FY20
Dividends β
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks β
FY24
Dividends β
Buybacks β
FY25
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY16
Diluted shares 0.01B
FY17
Diluted shares 0.02B
FY18
Diluted shares 0.02B
FY19
Diluted shares 0.01B
FY20
Diluted shares 0.01B
FY21
Diluted shares 0.02B
FY22
Diluted shares 0.02B
FY23
Diluted shares 0.02B
FY24
Diluted shares 0.01B
FY25
Diluted shares 0.01B
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA Β· Natural Resource Partners Lp owes $2.9M more than it holds in cash, about 0.0 years of operating profit.
Cash, debt and the ratios that show how comfortably Natural Resource Partners Lp can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY16
Cash $40.4M
Debt $1.1B
FY17
Cash $27.0M
Debt $809M
FY18
Cash $102M
Debt $673M
FY19
Cash $98.3M
Debt $516M
FY20
Cash $99.8M
Debt $471M
FY21
Cash $136M
Debt $434M
FY22
Cash $39.1M
Debt $168M
FY23
Cash $12.0M
Debt $155M
FY24
Cash $30.4M
Debt $142M
FY25
Cash $30.1M
Debt $33.1M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $136M | $39.1M | $12.0M | $30.4M | $30.1M |
| Debt incl. finance leases | $434M | $168M | $155M | $142M | $33.1M |
| Net debt / EBITDA | 1.8x | 0.4x | 0.5x | 0.5x | 0.0x |
| Interest coverage | 3.8x | 11.6x | 20.7x | 12.8x | 18.1x |
| Current ratio | 2.5x | 1.4x | 1.1x | 2.0x | 1.8x |
| Quick ratio | 2.5x | 1.4x | 1.1x | 2.0x | 1.8x |
| Total assets | $954M | $877M | $798M | $773M | $748M |
| Total liabilities | $514M | $235M | $220M | $222M | $116M |
| Net debt (β = net cash) | $298M | $129M | $143M | $112M | $2.9M |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY16
Return on capital β
Return on equity β
Return on assets 6.7%
FY17
Return on capital β
Return on equity β
Return on assets 6.2%
FY18
Return on capital β
Return on equity β
Return on assets 10.2%
FY19
Return on capital β
Return on equity β
Return on assets β2.0%
FY20
Return on capital β
Return on equity β
Return on assets β8.4%
FY21
Return on capital β
Return on equity β
Return on assets 11.6%
FY22
Return on capital β
Return on equity β
Return on assets 29.3%
FY23
Return on capital β
Return on equity β
Return on assets 33.2%
FY24
Return on capital β
Return on equity β
Return on assets 23.4%
FY25
Return on capital β
Return on equity β
Return on assets 17.9%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· Natural Resource Partners Lp passes 5 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 6 / 8 | 8 / 8 | 6 / 8 | 2 / 8 | 7 / 8 | 6 / 8 | 5 / 8 | 6 / 8 | 5 / 7 |
| Accruals ratio | β0.8% | β2.7% | β3.6% | β13.3% | β17.3% | β1.4% | 0.2% | β3.9% | β8.3% | β3.9% |
| Altman Z'' | β | β | β | β | β | β | β | β | β | β |
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $250M | $243M | $251M | $257M | $140M | $216M | $307M | $279M | $232M | β |
| Operating income | $181M | $177M | $193M | $51.3M | β$43.9M | $148M | $305M | $293M | $199M | $144M |
| Interest expense | $90.0M | $82.0M | $70.2M | $47.5M | $41.0M | $38.9M | $26.3M | $14.1M | $15.6M | $8.0M |
| Net income | $96.9M | $88.7M | $140M | β$24.5M | β$84.8M | $109M | $268M | $278M | $184M | $136M |
| Net income to common | $96.9M | $63.2M | $110M | β$54.5M | β$115M | $77.3M | $238M | $201M | $155M | $136M |
| Diluted EPS | $7.78 | $3.96 | $6.76 | β$4.35 | β$9.20 | $4.81 | $13.39 | $13.08 | $11.35 | $10.04 |
| Diluted shares | 0.01B | 0.02B | 0.02B | 0.01B | 0.01B | 0.02B | 0.02B | 0.02B | 0.01B | 0.01B |
| Cash flow | ||||||||||
| Cash from operations | $108M | $127M | $189M | $137M | $89.3M | $122M | $267M | $311M | $248M | $166M |
| Capital expenditure | $0.0M | $0.0M | $0.0M | β | $0.0M | $0.0M | $0.1M | $0.0M | $0.0M | $0.0M |
| Free cash flow | $108M | $127M | $189M | β | $89.3M | $122M | $267M | $311M | $248M | $166M |
| Depreciation and amortization | $28.6M | $23.4M | $21.7M | $14.9M | $9.2M | $19.1M | $22.5M | $18.5M | $15.5M | $15.0M |
| Stock-based compensation | $1.2M | $0.0M | $1.4M | $2.4M | $3.6M | $4.0M | $5.8M | $10.9M | $11.3M | $11.1M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $40.4M | $27.0M | $102M | $98.3M | $99.8M | $136M | $39.1M | $12.0M | $30.4M | $30.1M |
| Total debt | $1.1B | $809M | $673M | $516M | $471M | $434M | $168M | $155M | $142M | $33.1M |
| Current assets | $105M | $91.4M | $243M | $132M | $117M | $163M | $83.6M | $55.3M | $63.9M | $60.9M |
| Current liabilities | $189M | $121M | $149M | $62.7M | $61.4M | $64.4M | $60.2M | $49.8M | $31.9M | $33.0M |
| Inventory | $6.9M | $7.6M | β | β | β | β | β | β | β | β |
| Property and equipment, net | $49.4M | $1.3M | $1.0M | β | β | β | β | β | β | β |
| Intangible assets | $3.2M | $46.8M | $42.5M | $17.7M | $17.5M | $16.1M | $14.7M | $13.7M | $12.9M | $11.9M |
| Total assets | $1.4B | $1.4B | $1.3B | $1.1B | $922M | $954M | $877M | $798M | $773M | $748M |
| Total liabilities | $1.3B | $954M | $757M | $585M | $549M | $514M | $235M | $220M | $222M | $116M |
| Margins | ||||||||||
| Operating margin | 72.4% | 72.7% | 76.7% | 19.9% | β31.4% | 68.4% | 99.4% | 105.0% | 85.7% | β |
| EBITDA margin | 83.8% | 82.4% | 85.3% | 25.7% | β24.8% | 77.2% | 106.8% | 111.6% | 92.4% | β |
| Net margin | 38.7% | 36.5% | 55.6% | β9.5% | β60.7% | 50.4% | 87.5% | 99.9% | 79.0% | β |
| FCF margin | 43.1% | 52.4% | 75.2% | β | 63.9% | 56.4% | 86.9% | 111.6% | 106.9% | β |
| Returns | ||||||||||
| Return on capital employed | 14.4% | 13.9% | 16.1% | 5.0% | β5.1% | 16.6% | 37.4% | 39.1% | 26.9% | 20.2% |
| Return on assets | 6.7% | 6.2% | 10.2% | β2.0% | β8.4% | 11.6% | 29.3% | 33.2% | 23.4% | 17.9% |
| Growth | ||||||||||
| Revenue growth | β | β3.0% | 3.4% | 2.5% | β45.7% | 54.7% | 42.1% | β9.2% | β16.6% | β |
| Net income growth | β | β8.5% | 57.4% | β117.5% | β | β | 146.5% | 3.7% | β34.0% | β25.7% |
| EPS growth | β | β49.1% | 70.7% | β164.3% | β | β | 178.4% | β2.3% | β13.2% | β11.5% |
| FCF growth | β | 17.8% | 48.6% | β | β | 36.4% | 119.0% | 16.6% | β20.1% | β33.3% |
| Share count change | β | 79.4% | β7.8% | β39.4% | 0.0% | 81.0% | β11.4% | β18.1% | β15.2% | β2.5% |
| Financial health | ||||||||||
| Net debt / EBITDA | 5.2x | 3.9x | 2.7x | 6.3x | β | 1.8x | 0.4x | 0.5x | 0.5x | 0.0x |
| Interest coverage | 2.0x | 2.2x | 2.7x | 1.1x | β1.1x | 3.8x | 11.6x | 20.7x | 12.8x | 18.1x |
| Current ratio | 0.6x | 0.8x | 1.6x | 2.1x | 1.9x | 2.5x | 1.4x | 1.1x | 2.0x | 1.8x |
| Quick ratio | 0.5x | 0.7x | 1.6x | 2.1x | 1.9x | 2.5x | 1.4x | 1.1x | 2.0x | 1.8x |
| Capital allocation | ||||||||||
| Capex / revenue | 0.0% | 0.0% | 0.0% | β | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | β |
| Stock comp / revenue | 0.5% | 0.0% | 0.6% | 0.9% | 2.6% | 1.9% | 1.9% | 3.9% | 4.9% | β |
| Quality scores | ||||||||||
| Piotroski F-score | β | 6.0 | 8.0 | 6.0 | 2.0 | 7.0 | 6.0 | 5.0 | 6.0 | 5.0 |
| Accruals ratio | β0.8% | β2.7% | β3.6% | β13.3% | β17.3% | β1.4% | 0.2% | β3.9% | β8.3% | β3.9% |
Source: SEC EDGAR XBRL filings (CIK 0001171486). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.