For the twelve months ended Sep 30, 2026, Natural Resource Partners LP Limited Partnership reported $102.33M of net income.
NRP net income was $26.54M in fiscal Q3 2026 (ended Sep 30, 2026), down 14.1% from a year earlier and up 5.4% from the prior quarter. For the full fiscal 2025 it was $136.37M, down 12.0% from fiscal 2024. It rose in 1 of the last 4 fiscal years.
NRP free cash flow was $165.86M for fiscal 2025 (ended Dec 31, 2025), down 33.3% from fiscal 2024. Compound annual growth was +13.2% over 5 years and -1.5% over 10 years. It rose in 3 of the last 5 fiscal years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | $232.35M | $278.73M | $307.01M | $185.20M | $120.17M | $257.44M | $251.07M | $242.78M | $250.18M |
| Selling, general and admin | $24.10M | $25.15M | $26.11M | $21.85M | $17.36M | $14.29M | $16.73M | $16.50M | $18.50M | $16.98M |
| Operating income | $144.35M | $199.20M | $292.54M | $305.23M | $147.78M | -$43.85M | $51.32M | $192.54M | $176.56M | $181.16M |
| Interest expense | $7.98M | $15.55M | $14.10M | $26.27M | $38.88M | $40.97M | $47.45M | $70.18M | $82.03M | $90.01M |
| Net income | $136.37M | $154.91M | $200.79M | $238.49M | $77.29M | -$115.04M | -$54.46M | $139.54M | $88.67M | $96.89M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $30.14M | $30.44M | $11.99M | $39.09M | $135.52M | $99.79M | $98.27M | $206.03M | $26.98M | $39.17M |
| Receivables | $28.67M | $31.47M | $41.09M | $42.70M | $24.54M | $12.32M | $30.87M | $32.06M | $24.05M | $43.20M |
| Inventory | - | - | - | - | - | - | - | - | $7.55M | $6.89M |
| Current assets | $60.91M | $63.87M | $55.29M | $83.61M | $162.78M | $117.19M | $132.08M | $242.54M | $91.40M | $105.39M |
| Total assets | $748.37M | $772.91M | $797.88M | $877.13M | $953.82M | $921.88M | $1.09B | $1.34B | $1.39B | $1.45B |
| Current liabilities | $32.99M | $31.86M | $49.84M | $60.23M | $64.39M | $61.37M | $62.71M | $148.75M | $120.55M | $189.15M |
| Short-term debt | $14.20M | $14.19M | $30.79M | $39.08M | $39.10M | $39.05M | $45.78M | $115.18M | $79.74M | $140.04M |
| Long-term debt | $18.88M | $127.88M | $124.27M | $129.21M | $394.44M | $432.44M | $470.42M | $557.57M | $729.61M | $990.23M |
| Total debt | $33.08M | $142.07M | $155.06M | $168.28M | $433.55M | $471.50M | $516.20M | $672.76M | $809.35M | $1.13B |
| Total liabilities | $115.85M | $221.80M | $219.64M | $235.09M | $513.89M | $549.02M | $585.29M | $756.51M | $953.92M | $1.30B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $165.86M | $248.49M | $310.98M | $266.84M | $121.80M | $89.27M | $137.31M | $188.92M | $127.14M | $107.96M |
| Capital expenditures | $0 | $0 | $10.0K | $118.0K | $0 | $0 | - | $0 | $0 | $28.0K |
| Free cash flow | $165.86M | $248.49M | $310.97M | $266.72M | $121.80M | $89.27M | - | $188.92M | $127.14M | $107.93M |
| Investing cash flow | $4.77M | $7.51M | $5.42M | $2.69M | $2.41M | $1.68M | $7.59M | $190.63M | $3.54M | $166.81M |
| Financing cash flow | -$170.93M | -$237.55M | -$343.50M | -$365.95M | -$88.49M | -$89.43M | -$252.67M | -$203.35M | -$141.23M | -$286.18M |
| Stock-based compensation | $11.12M | $11.31M | $10.91M | $5.77M | $4.04M | $3.57M | $2.36M | $1.43M | $18.0K | $1.22M |
| Depreciation and amortization | $14.96M | $15.54M | $18.49M | $22.52M | $19.07M | $9.20M | $14.93M | $21.69M | $23.41M | $28.58M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | -16.6% | -9.2% | 65.8% | 54.1% | -53.3% | 2.5% | 3.4% | -3.0% | -42.2% |
| Net income growth, YoY | -12.0% | -22.8% | -15.8% | 208.6% | - | - | - | 57.4% | -8.5% | - |
| Operating margin | - | 85.7% | 105.0% | 99.4% | 79.8% | -36.5% | 19.9% | 76.7% | 72.7% | 72.4% |
| Net margin | - | 66.7% | 72.0% | 77.7% | 41.7% | -95.7% | -21.2% | 55.6% | 36.5% | 38.7% |
| Free cash flow margin | - | 106.9% | 111.6% | 86.9% | 65.8% | 74.3% | - | 75.2% | 52.4% | 43.1% |
| Return on assets | 18.2% | 20.0% | 25.2% | 27.2% | 8.1% | -12.5% | -5.0% | 10.4% | 6.4% | 6.7% |
| Current ratio | 1.85 | 2.00 | 1.11 | 1.39 | 2.53 | 1.91 | 2.11 | 1.63 | 0.76 | 0.56 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | $51.26M | $61.78M | $50.41M | $54.59M | $65.57M | $72.92M |
| Selling, general and admin | $5.66M | $5.02M | $5.03M | $5.95M | $5.72M | $5.60M | $6.83M | $6.96M | $5.93M | $5.93M | $6.33M | $8.95M |
| Operating income | $27.09M | $26.23M | $20.59M | $32.16M | $32.68M | $36.59M | $42.92M | $46.30M | $42.79M | $50.41M | $59.70M | $68.90M |
| Interest expense | $552.0K | $1.05M | $973.0K | $1.16M | $1.78M | $2.38M | $2.67M | $3.52M | $4.19M | $4.35M | $3.49M | $3.92M |
| Net income | $26.54M | $25.18M | $19.62M | $31.00M | $30.91M | $34.21M | $40.25M | $42.77M | $27.12M | $46.06M | $56.21M | $62.83M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $51.69M | $30.13M | $31.50M | $30.14M | $31.02M | $30.34M | $30.88M | $30.44M | $30.90M | $32.34M | $10.99M | $11.99M |
| Receivables | $28.74M | $30.64M | $26.79M | $28.67M | $30.44M | $29.05M | $31.39M | $31.47M | $36.89M | $30.62M | $33.87M | $41.09M |
| Current assets | $80.89M | $61.71M | $59.72M | $60.91M | $61.92M | $60.72M | $64.40M | $63.87M | $69.27M | $66.08M | $48.36M | $55.29M |
| Total assets | $763.94M | $757.53M | $771.66M | $748.37M | $748.37M | $748.37M | $748.37M | $772.91M | $772.91M | $789.56M | $772.91M | $797.88M |
| Current liabilities | $29.50M | $29.16M | $28.59M | $32.99M | $28.94M | $27.64M | $26.27M | $31.86M | $29.72M | $27.14M | $27.41M | $49.84M |
| Short-term debt | $14.31M | $14.27M | $14.23M | $14.20M | $14.25M | $14.23M | $14.21M | $14.19M | $14.23M | $14.21M | $14.20M | $30.79M |
| Long-term debt | $0 | $13.08M | $46.08M | $18.88M | $55.13M | $87.11M | $124.59M | $127.88M | $183.14M | $196.11M | $174.59M | $124.27M |
| Total debt | $14.31M | $27.36M | $60.32M | $33.08M | $69.38M | $101.34M | $138.80M | $142.07M | $197.36M | $210.33M | $188.80M | $155.06M |
| Total liabilities | $94.26M | $107.48M | $139.13M | $115.85M | $142.30M | $171.52M | $208.12M | $221.80M | $272.67M | $270.30M | $246.66M | $219.64M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $43.99M | $40.95M | $33.01M | $44.77M | $41.09M | $45.58M | $34.42M | $66.22M | $54.15M | $56.63M | $71.50M | $77.79M |
| Capital expenditures | - | - | - | - | - | - | - | $0 | $0 | $0 | $0 | $0 |
| Free cash flow | - | - | - | - | - | - | - | $66.22M | $54.15M | $56.63M | $71.50M | $77.79M |
| Investing cash flow | $792.0K | $819.0K | -$38.44M | $743.0K | $1.63M | $1.44M | $947.0K | $723.0K | $674.0K | $5.30M | $812.0K | $2.63M |
| Financing cash flow | -$23.22M | -$43.14M | $6.79M | -$46.39M | -$42.05M | -$47.55M | -$34.94M | -$67.40M | -$56.26M | -$40.58M | -$73.31M | -$86.84M |
| Stock-based compensation | $2.57M | $1.67M | $1.16M | $3.02M | $2.72M | $2.66M | $2.72M | $2.43M | $3.00M | $2.91M | $2.96M | $3.01M |
| Depreciation and amortization | $6.53M | $11.13M | $7.61M | $3.34M | $3.87M | $3.75M | $3.99M | $2.83M | $4.73M | $3.32M | $4.65M | $6.02M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | - | - | - | -21.8% | -15.3% | -26.5% | -10.5% | -14.0% | -3.1% |
| Net income growth, YoY | -14.1% | -26.4% | -51.3% | -27.5% | 14.0% | -25.7% | -28.4% | -31.9% | -38.1% | -34.5% | -29.1% | 12.8% |
| Operating margin | - | - | - | - | - | - | 83.7% | 74.9% | 84.9% | 92.3% | 91.0% | 94.5% |
| Net margin | - | - | - | - | - | - | 78.5% | 69.2% | 53.8% | 84.4% | 85.7% | 86.2% |
| Free cash flow margin | - | - | - | - | - | - | - | 107.2% | 107.4% | 103.7% | 109.0% | 106.7% |
| Current ratio | 2.74 | 2.12 | 2.09 | 1.85 | 2.14 | 2.20 | 2.45 | 2.00 | 2.33 | 2.43 | 1.76 | 1.11 |
Source: XBRL data Natural Resource Partners LP Limited Partnership files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| NRP | - | - | $102.33M | - | $1.56B |
| BHP | $58.76B | +14.6% | $9.83B | 16.7% | $203.10B |
| HCC | $1.86B | +52.0% | $232.04M | 12.5% | $4.44B |
| CNR | $4.41B | +19.4% | $77.53M | 1.8% | $3.94B |
| ARLP | $2.21B | -1.9% | $314.56M | 14.3% | $3.14B |
| BTU | $4.10B | +3.4% | -$145.40M | -3.6% | $1.95B |
| AMR | $2.10B | -5.7% | -$49.85M | -2.4% | $1.88B |
| METC | $544.51M | -6.0% | -$66.67M | -12.2% | $397.1M |
| NC | $282.36M | +0.5% | $14.94M | 5.3% | $256.5M |