NATURAL RESOURCE PARTNERS LP (NRP)
Q1-CY2026Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014Q1-CY2014
Balance Sheet Date2025-Dec-312025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-302015-Jun-302015-Mar-312014-Dec-312014-Sep-302014-Jun-302014-Mar-31
Fiscal PeriodQ4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016Q1-FY2016Q4-FY2015Q3-FY2015Q2-FY2015Q1-FY2015Q4-FY2014Q3-FY2014Q2-FY2014Q1-FY2014
Total Revenue51,260,000$61,781,000$50,405,000$54,591,000$65,574,000$72,922,000$68,533,000$61,007,000$76,271,000$75,218,000$81,379,000$99,588,000$89,716,000$83,906,000$56,727,000$38,394,000$37,092,000$39,049,000$29,930,000$33,604,000$40,214,000$51,827,000$57,602,000$81,223,000$66,785,000$63,935,000$58,207,000$110,839,000$88,366,000$100,822,000$93,116,000$91,570,000$88,653,000$86,311,000$91,448,000$119,317,000$73,902,000$105,874,000$112,199,000$120,228,000$94,447,000$137,273,000$91,609,000$90,561,000$80,309,000$
QoQ%(17.03%)22.57%(7.67%)(16.75%)(10.08%)6.40%12.34%(20.01%)1.40%(7.57%)(18.28%)11.00%6.92%47.91%47.75%3.51%(5.01%)30.47%(10.93%)(16.44%)(22.41%)(10.03%)(29.08%)21.62%4.46%9.84%(47.49%)25.43%(12.35%)8.28%1.69%3.29%2.71%(5.62%)(23.36%)61.45%(30.20%)(5.64%)(6.68%)27.30%(31.20%)49.85%1.16%12.77%(15.24%)
YoY%(21.83%)(15.28%)(26.45%)(10.52%)(14.03%)(3.05%)(15.79%)(38.74%)(14.99%)(10.35%)43.46%159.38%141.87%114.87%89.53%14.25%(7.76%)(24.66%)(48.04%)(58.63%)(39.79%)(18.94%)(1.04%)(26.72%)(24.42%)(36.59%)(37.49%)21.04%(.32%)16.81%1.82%(23.26%)19.96%(18.48%)(18.50%)(.76%)(21.75%)(22.87%)22.48%32.76%17.61%44.89%11.40%4.33%(14.87%)
Cost Of Revenue4,835,000$9,354,000$2,759,000$6,476,000$8,445,000$7,486,000$5,872,000$4,933,000$9,164,000$9,958,000$7,730,000$6,563,000$9,414,000$7,898,000$9,227,000$10,104,000$9,530,000$10,923,000$363,000$(17,000$)86,000$(42,000$)3,747,000$210,000$620,000$151,000$6,681,000$10,000$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$
Gross Profit(4,835,000$)(9,354,000$)(2,759,000$)44,784,000$53,336,000$42,919,000$48,719,000$60,641,000$63,758,000$58,575,000$53,277,000$69,708,000$65,804,000$73,481,000$90,361,000$79,612,000$74,376,000$45,804,000$38,031,000$37,109,000$38,963,000$29,972,000$29,857,000$40,004,000$51,207,000$57,451,000$74,542,000$66,775,000$63,935,000$58,207,000$110,839,000$88,366,000$100,822,000$93,116,000$91,570,000$88,653,000$86,311,000$91,448,000$119,317,000$73,902,000$105,874,000$112,199,000$120,228,000$94,447,000$137,273,000$91,609,000$90,561,000$80,309,000$
Gross Margin87.37%86.33%85.15%89.24%92.48%87.43%85.47%87.33%91.40%87.48%90.30%90.74%88.74%88.64%80.75%99.06%100.05%99.78%100.14%88.85%99.48%98.80%99.74%91.77%99.99%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%
Operating Expenses(36,990,000$)(42,038,000$)(39,350,000$)1,863,000$7,040,000$130,000$(1,694,000$)941,000$(5,143,000$)(9,108,000$)(20,549,000$)(12,420,000$)(4,985,000$)(8,699,000$)20,957,000$16,430,000$18,699,000$17,645,000$13,445,000$18,797,000$14,401,000$12,460,000$146,183,000$11,127,000$160,772,000$14,115,000$20,625,000$17,102,000$38,464,000$14,861,000$16,756,000$15,893,000$(73,172,000$)46,756,000$44,527,000$51,655,000$(55,221,000$)58,967,000$47,505,000$46,836,000$73,290,000$421,863,000$65,359,000$69,260,000$70,168,000$36,582,000$40,158,000$27,870,000$
Operating Income32,155,000$32,684,000$36,591,000$42,921,000$46,296,000$42,789,000$50,413,000$59,700,000$68,901,000$67,683,000$73,826,000$82,128,000$70,789,000$82,180,000$78,976,000$73,286,000$65,209,000$39,150,000$25,065,000$18,354,000$24,764,000$17,470,000$(115,172,000$)29,087,000$(109,056,000$)49,594,000$60,844,000$49,939,000$52,093,000$43,346,000$52,863,000$44,236,000$47,861,000$43,052,000$47,522,000$38,124,000$27,106,000$38,907,000$70,741,000$48,991,000$32,581,000$(307,831,000$)58,324,000$46,499,000$31,050,000$55,027,000$50,403,000$52,439,000$
Operating Margin83.73%74.94%84.89%92.35%91.04%94.49%98.76%121.01%107.68%94.11%100.98%79.30%81.69%77.72%69.02%65.28%49.48%63.42%58.37%(342.73%)72.33%(210.42%)86.10%74.91%74.78%81.48%74.47%47.69%50.06%47.47%46.24%51.90%43.00%31.41%42.55%59.29%66.29%30.77%(274.36%)48.51%49.23%22.62%60.07%55.66%65.30%
Interest Income36,000$47,000$48,000$69,000$17,000$10,000$3,000$7,000$19,000$2,000$0$1,000$15,000$21,000$8,000$41,000$26,000$
Interest Expenses3,487,000$3,921,000$3,837,000$3,492,000$2,853,000$3,638,000$5,141,000$8,108,000$9,387,000$9,568,000$9,652,000$9,683,000$9,973,000$10,077,000$10,254,000$10,329,000$10,308,000$10,392,000$10,431,000$12,456,000$14,174,000$17,001,000$17,493,000$17,734,000$17,950,000$18,564,000$20,032,000$20,308,000$23,141,000$23,266,000$22,491,000$22,054,000$22,196,000$22,323,000$22,441,000$21,474,000$22,943,000$21,385,000$18,862,000$19,037,000$19,860,000$
Income Before Tax30,998,000$30,905,000$34,211,000$40,253,000$42,772,000$38,595,000$46,064,000$56,213,000$64,980,000$63,846,000$70,334,000$79,275,000$63,218,000$74,555,000$66,820,000$63,899,000$55,641,000$29,498,000$15,382,000$8,381,000$14,687,000$7,216,000$(125,501,000$)18,779,000$(118,698,000$)39,170,000$19,351,000$35,719,000$49,058,000$28,541,000$38,110,000$24,338,000$30,707,000$26,066,000$25,990,000$5,904,000$3,488,000$23,531,000$46,446,000$23,427,000$(21,786,000$)(600,001,000$)32,578,000$17,489,000$8,645,000$36,173,000$31,407,000$32,605,000$
Tax Expenses
Net Income30,998,000$30,905,000$34,211,000$40,253,000$42,772,000$38,595,000$46,064,000$56,213,000$64,980,000$63,846,000$70,334,000$79,275,000$63,218,000$74,555,000$66,820,000$63,899,000$55,641,000$29,498,000$15,382,000$8,381,000$14,687,000$7,216,000$(125,501,000$)18,779,000$(118,698,000$)39,170,000$19,351,000$35,719,000$49,058,000$28,541,000$38,110,000$24,338,000$30,707,000$26,066,000$25,990,000$5,904,000$3,488,000$23,531,000$46,446,000$23,427,000$(21,786,000$)(600,001,000$)32,578,000$17,489,000$8,645,000$36,173,000$31,407,000$32,605,000$
Profit Margin78.53%69.23%76.57%84.38%85.73%89.11%93.16%115.29%103.94%84.05%91.62%67.10%71.22%66.31%52.00%40.06%22.60%37.61%24.11%(373.47%)46.70%(229.03%)68.00%23.83%53.48%76.73%49.03%34.38%27.54%30.46%27.99%28.38%6.66%4.04%25.73%38.93%31.70%(20.58%)(534.77%)27.10%18.52%6.30%39.49%34.68%40.60%
TTM76.91%79.04%84.54%88.34%95.28%99.89%98.45%97.79%85.39%77.62%73.58%65.42%61.18%50.39%39.68%31.61%(68.17%)(59.40%)(140.26%)(101.64%)(17.93%)(9.50%)53.16%49.11%50.52%43.58%33.97%30.33%28.65%23.70%17.09%16.46%20.58%26.12%18.34%(134.19%)(137.26%)(132.11%)(116.62%)21.39%22.64%27.22%41.20%42.29%45.56%
Earnings to Minority0$11,474,000$15,109,000$2,150,000$2,151,000$20,019,000$32,589,000$22,889,000$7,500,000$7,500,000$7,500,000$7,500,000$8,079,000$7,961,000$7,842,000$7,727,000$7,612,000$7,500,000$7,613,000$7,500,000$0$0$0$7,500,000$0$(359,000$)869,000$7,500,000$0$0$0$2,500,000$0$0$0$(1,244,000$)1,244,000$0$0$0$0$0$
Earnings to Common Shareholders30,998,000$30,905,000$34,211,000$40,253,000$42,772,000$27,121,000$30,955,000$54,063,000$62,829,000$43,827,000$37,745,000$56,386,000$55,718,000$67,055,000$59,320,000$56,399,000$47,562,000$21,537,000$7,540,000$654,000$7,075,000$(284,000$)(133,114,000$)11,279,000$(126,198,000$)31,670,000$11,851,000$28,219,000$41,558,000$21,400,000$29,741,000$16,838,000$22,942,000$18,416,000$18,452,000$3,404,000$3,488,000$23,531,000$46,446,000$23,427,000$(21,786,000$)(598,757,000$)31,334,000$17,489,000$8,645,000$36,173,000$31,407,000$32,605,000$
QoQ%.30%(9.66%)(15.01%)(5.89%)57.71%(12.39%)(42.74%)(13.95%)43.36%16.11%(33.06%)1.20%(16.91%)13.04%5.18%18.58%120.84%185.64%1,052.91%(90.76%)2,591.20%99.79%(1,280.19%)108.94%(498.48%)167.24%(58.00%)(32.10%)94.20%(28.05%)76.63%(26.61%)24.58%(.20%)442.07%(2.41%)(85.18%)(49.34%)98.26%207.53%96.36%(2,010.89%)79.16%102.30%(76.10%)15.18%(3.67%)(30.60%)
YoY%(27.53%)13.95%10.52%(25.54%)(31.92%)(38.12%)(17.99%)(4.12%)12.76%(34.64%)(36.37%)(.02%)17.15%211.35%686.74%8,523.70%572.25%7,683.45%105.66%(94.20%)105.61%(100.90%)(1,223.23%)(60.03%)(403.67%)47.99%(60.15%)67.59%81.14%16.20%61.18%394.65%557.74%(21.74%)(60.27%)(85.47%)116.01%103.93%48.23%33.95%(352.01%)(1,755.26%)(.23%)(46.36%)(81.60%).13%(23.52%)(31.94%)
Earnings Per Share, Basic
Earnings Per Share, Diluted
Unlevered FCF Per Share, Basic
Unlevered FCF Per Share, Diluted
Average Shares, Basic
Average Shares, Diluted
EBIT30,998,000$30,905,000$34,211,000$40,253,000$42,772,000$38,595,000$46,064,000$59,700,000$68,901,000$67,683,000$73,826,000$82,128,000$66,856,000$79,696,000$74,928,000$73,286,000$65,209,000$39,150,000$25,065,000$18,354,000$24,764,000$17,470,000$(115,172,000$)29,087,000$(108,306,000$)49,601,000$31,807,000$49,893,000$66,059,000$46,034,000$55,844,000$42,288,000$49,271,000$46,098,000$46,298,000$29,045,000$26,754,000$46,022,000$68,500,000$45,623,000$537,000$(577,560,000$)54,052,000$40,432,000$30,030,000$55,035,000$50,444,000$52,465,000$
EBITDA34,342,000$34,773,000$37,965,000$44,242,000$45,599,000$43,325,000$49,388,000$64,354,000$74,921,000$72,277,000$77,618,000$86,211,000$72,810,000$86,546,000$80,775,000$77,154,000$69,139,000$44,332,000$29,936,000$23,446,000$27,777,000$19,581,000$(113,110,000$)31,099,000$(105,120,000$)52,985,000$35,777,000$54,285,000$72,384,000$50,922,000$61,220,000$47,388,000$46,490,000$54,404,000$54,463,000$38,769,000$23,154,000$57,951,000$78,972,000$55,403,000$18,689,000$(561,894,000$)72,222,000$64,986,000$60,288,000$73,656,000$66,794,000$67,112,000$