NRP NATURAL RESOURCE PARTNERS LP

Overview and Growth

In fiscal 2025, NATURAL RESOURCE PARTNERS LP reported net income of $136.37M. The company employed $748.37M of total assets, the balance-sheet base supporting its current operating and cash-flow results.

Profitability

The reported operating result was $144.35M, capturing profitability after direct costs and the operating expenses reflected in the statements. Net income came to $136.37M, completing the progression from revenue through gross and operating profitability to the final reported result. EBITDA was $159.31M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. Return on period-end equity was 21.6%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 18.2%, connecting net income with the company’s total asset base. Current net income of $136.37M was below fiscal 2024 net income of $154.91M, showing the direction of the bottom-line change.

Liquidity and Capital Structure

Total assets were $748.37M, supported by $115.85M of liabilities and $632.52M of shareholder equity. The near-term balance sheet paired $60.91M of current assets with $32.99M of current liabilities at the reporting date. Current assets covered current liabilities by 1.85x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $30.14M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 91.4% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $33.08M, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 0.05x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 4.4% of total assets, placing borrowing in the context of the company’s full resource base. The equity-to-assets relationship was 84.5%, placing book capital against the total resource base. Liabilities represented 15.5% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 4.0% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 3.2% lower than fiscal 2024 assets of $772.91M, measuring the company’s own balance-sheet change. Reported equity changed 14.8% from $551.11M in fiscal 2024, placing the current capital base higher year over year. Compared with $30.44M in fiscal 2024, the current cash balance moved 1.0% and finished lower.

Cash Flow and Earnings Quality

The company reported $165.86M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 1.22x, showing the relationship between accrual earnings and operating cash. Free cash flow came to $165.86M, leaving a positive amount after capital expenditures. Measured against total assets, free cash flow represented 22.2%, showing the cash productivity of the company’s assets. Operating cash flow of $165.86M finished below fiscal 2024 operating cash flow of $248.49M, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.