Natural Resource Partners LP (NRP) financial statements
Net income was $136M.
Free cash flow was $166M.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Natural Resource Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $250M | $243M | $251M | $257M | $140M | $216M | $307M | $279M | $232M | — |
| Cost of revenue | — | — | — | — | $25M | $27M | $35M | $32M | $28M | $24M |
| Gross profit | — | — | — | — | $115M | $189M | $272M | $246M | $204M | — |
| Selling, general and admin | $17M | $19M | $16M | $17M | $14M | $17M | $22M | $26M | $25M | $24M |
| Operating income | $181M | $177M | $193M | $51M | -$44M | $148M | $305M | $293M | $199M | $144M |
| Interest expense | $90M | $82M | $70M | $47M | $41M | $39M | $26M | $14M | $16M | $8M |
| Net income | $97M | $89M | $140M | -$24M | -$85M | $77M | $238M | $201M | $155M | $136M |
| Gross margin | — | — | — | — | 82.3% | 87.5% | 88.6% | 88.4% | 87.9% | — |
| Operating margin | 72.4% | 72.7% | 76.7% | 19.9% | -31.4% | 68.4% | 99.4% | 105.0% | 85.7% | — |
| Net margin | 38.7% | 36.5% | 55.6% | -9.5% | -60.7% | 35.8% | 77.7% | 72.0% | 66.7% | — |
Balance sheet
Fiscal years, from Natural Resource Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $40M | $27M | $102M | $98M | $100M | $136M | $39M | $12M | $30M | $30M |
| Receivables | $43M | $24M | $32M | $31M | $12M | $25M | $43M | $41M | $31M | $29M |
| Inventory | $7M | $8M | — | — | — | — | — | — | — | — |
| Total current assets | $105M | $91M | $243M | $132M | $117M | $163M | $84M | $55M | $64M | $61M |
| Property, plant and equipment | $49M | $1M | $984,000 | — | — | — | — | — | — | — |
| Total assets | $1.4B | $1.4B | $1.3B | $1.1B | $922M | $954M | $877M | $798M | $773M | $748M |
| Total current liabilities | $189M | $121M | $149M | $63M | $61M | $64M | $60M | $50M | $32M | $33M |
| Long-term debt | $990M | $730M | $558M | $470M | $432M | $394M | $129M | $124M | $128M | $19M |
| Total liabilities | $1.3B | $954M | $757M | $585M | $549M | $514M | $235M | $220M | $222M | $116M |
| Net debt | $1.1B | $782M | $571M | $418M | $372M | $298M | $129M | $143M | $112M | $3M |
Cash flow
Fiscal years, from Natural Resource Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $108M | $127M | $189M | $137M | $89M | $122M | $267M | $311M | $248M | $166M |
| Capital spending | $28,000 | $0 | $0 | — | $0 | $0 | $118,000 | $10,000 | $0 | $0 |
| Free cash flow | $108M | $127M | $189M | — | $89M | $122M | $267M | $311M | $248M | $166M |
| Stock-based compensation | $1M | $18,000 | $1M | $2M | $4M | $4M | $6M | $11M | $11M | $11M |
| Net borrowing | -$163M | -$312M | -$141M | -$163M | -$46M | -$39M | -$269M | -$14M | -$13M | -$109M |
| Free cash flow margin | 43.1% | 52.4% | 75.2% | — | 63.9% | 56.4% | 86.9% | 111.6% | 106.9% | — |
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How much free cash flow does Natural Resource Partners LP generate?
$166M in fiscal 2025 (operating cash flow minus capital spending).
From Natural Resource Partners LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.