NRP · NYSE · CIK 1171486
NATURAL RESOURCE PARTNERS LP
Stage 1 · Must have
4/7
6 of 7 needed
Stage 2 · Refinement
80%
70% needed
Verdict
Financially weak
Rules v1.0.0
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Stage 1 · Must have
4 of 7 passed · at least 6 needed
Debt / Equity
Financial debt compared with shareholders' equity
No datan/aThreshold < 1FY 2024< 1
The latest annual report does not show shareholders' equity, so debt cannot be compared with it. This check is left out of the score.
S1.1 · Source: 2024 annual report, SEC EDGAR · Original filing
Gross margin vs. industry
Gross profit as a share of revenue, compared with peers
Pass87.9%Threshold >= 26.6% (median 25.6% + 1 pp)FY 2024>= 26.6% (median 25.6% + 1 pp)
Gross margin: 87.9% in 2024, against a median of 25.6% for Energy (112 companies). The company keeps more of each unit of revenue after direct costs than most of its peers. A margin like this often points to a strong brand or a cost advantage.
Compared with 112 companies in Energy. Peer median 25.6%.
S1.2 · Source: 2024 annual report, SEC EDGAR · Original filing
Operating cash flow vs. net income
Cash from operations over reported profit, last 3 years
Pass113.1%Threshold > 100% (3-year sums)FY 2024> 100% (3-year sums)
Operating cash flow vs. net income: 113% over 2022-2024. The business brings in more cash than the profit it reports, a sign that its earnings are backed by real money.
S1.3 · 3 annual reports used · Source: 2024 annual report, SEC EDGAR · Original filing
Free cash flow vs. net income
Cash left after investment over reported profit, last 3 years
Pass113.1%Threshold > 80% (3-year sums); 70-80% is closeFY 2024> 80% (3-year sums); 70-80% is close
Free cash flow vs. net income: 113% over 2022-2024. After paying for investment, the company still turns most of its profit into cash it can actually use.
S1.4 · 3 annual reports used · Source: 2024 annual report, SEC EDGAR · Original filing
ROIC stable and rising
Return on invested capital over 5 years
No datan/aThreshold latest >= 5-year median - 1 pp and >= first year + 0.5 ppFY 2024latest >= 5-year median - 1 pp and >= first year + 0.5 pp
ROIC cannot be calculated for 2024, because operating income or invested capital is missing or invested capital is not positive. This check is left out of the score.
S1.5 · Source: 2024 annual report, SEC EDGAR · Original filing
Return on equity vs. industry
Net income over shareholders' equity, compared with peers
No datan/aThreshold >= 10.3% (median 9.3% + 1 pp)FY 2024>= 10.3% (median 9.3% + 1 pp)
Net income or shareholders' equity is missing from the 2024 report. This check is left out of the score.
S1.6 · Source: 2024 annual report, SEC EDGAR · Original filing
Positive EBITDA
Operating profit before depreciation and amortization
Pass$215MThreshold > 0FY 2024> 0
EBITDA: USD 214.7 million in 2024. The core business makes money before depreciation, interest and tax, so day-to-day operations pay for themselves.
S1.7 · Source: 2024 annual report, SEC EDGAR · Original filing
Company snapshot
Market dataMarket data widgets by TradingView. Market prices are not part of the EdgeScore model.
Stage 2 · Refinement
8 of 10 applicable passed · at least 70% needed
SG&A stable or falling
Overhead costs as a share of revenue, over 5 years
No datan/aThreshold <= 5-year median + 0.5 ppFY 2024<= 5-year median + 0.5 pp
The 2024 report does not show SG&A costs or revenue, so this check cannot be made. It is left out of the score.
S2.1 · Source: 2024 annual report, SEC EDGAR · Original filing
Interest coverage
Operating income over interest expense
Pass12.8xThreshold > 5FY 2024> 5
Interest coverage: 12.8x in 2024. Operating income covers interest costs comfortably, so debt payments are unlikely to strain the business.
S2.2 · Source: 2024 annual report, SEC EDGAR · Original filing
Net margin vs. industry
Net income as a share of revenue, compared with peers
Pass79.0%Threshold >= 7.4% (median 6.4% + 1 pp)FY 2024>= 7.4% (median 6.4% + 1 pp)
Net margin: 79.0% in 2024, against a median of 6.4% for Energy (112 companies). After all costs, interest and tax, the company keeps more of its revenue as profit than most of its peers.
Compared with 112 companies in Energy. Peer median 6.4%.
S2.3 · Source: 2024 annual report, SEC EDGAR · Original filing
ROA vs. industry
Net income over total assets, compared with peers
Pass23.8%Threshold >= 5.3% (median 4.3% + 1 pp)FY 2024>= 5.3% (median 4.3% + 1 pp)
Return on assets: 23.8% in 2024, against a median of 4.3% for Energy (112 companies). The company produces more profit from the assets it holds than most of its peers, a sign that its resources are used efficiently.
Compared with 112 companies in Energy. Peer median 4.3%.
S2.4 · Source: 2024 annual report, SEC EDGAR · Original filing
Current ratio
Current assets over current liabilities
Pass2.00Threshold > 1.5FY 2024> 1.5
Current ratio: 2.00 in 2024. Short-term assets cover the bills due within a year with a good margin.
S2.5 · Source: 2024 annual report, SEC EDGAR · Original filing
Total assets growing, 5 years
Average yearly growth of total assets
Fail-6.6%Threshold average growth > 0%, at most 1 year with a drop over 5%FY 2024average growth > 0%, at most 1 year with a drop over 5%
Total assets changed by -6.6% a year on average over 6 annual reports, with 3 years of decline beyond 5%. The asset base has not grown over the period, which can mean the business is shrinking or returning capital instead of reinvesting.
S2.6 · 6 annual reports used · Source: 2024 annual report, SEC EDGAR · Original filing
Free cash flow CAGR, 5 years
Average yearly growth of free cash flow
Pass12.6%Threshold >= 5% a yearFY 2024>= 5% a year
Free cash flow grew 12.6% a year from 2019 to 2024. The cash the business generates after investment is rising at a healthy pace.
S2.7 · 6 annual reports used · Source: 2024 annual report, SEC EDGAR · Original filing
Quick ratio
Current assets excluding inventory over current liabilities
Pass2.00Threshold > 1FY 2024> 1
Quick ratio: 2.00 in 2024. Even without counting inventory, the company can cover the bills due within a year.
S2.8 · Source: 2024 annual report, SEC EDGAR · Original filing
Net debt / EBITDA
Years of operating profit needed to repay net debt
Pass0.5xThreshold < 3FY 2024< 3
Net debt / EBITDA: 0.5x in 2024. Debt net of cash could be repaid from less than three years of operating profit, a manageable load.
S2.9 · Source: 2024 annual report, SEC EDGAR · Original filing
Positive free cash flow
Operating cash flow minus capital expenditure
Pass$248MThreshold > 0FY 2024> 0
Free cash flow: USD 248.5 million in 2024. The business generated more cash than it spent on investment, money it can use for debt, dividends or growth.
S2.10 · Source: 2024 annual report, SEC EDGAR · Original filing
Revenue CAGR, 5 years
Average yearly growth of revenue
Fail-2.0%Threshold >= 7% a yearFY 2024>= 7% a year
Revenue changed -2.0% a year from 2019 to 2024, below the 7% bar. Sales are growing slowly or shrinking.
S2.11 · 6 annual reports used · Source: 2024 annual report, SEC EDGAR · Original filing
Indicator guide
- Debt / Equity
- Financial debt divided by shareholders' equity shows how much of the business is funded by lenders. Below 1 means owners fund more of the company than creditors do.
- Gross margin vs. industry
- Gross margin is the share of revenue left after the direct cost of products and services. Beating the industry median by at least one point suggests pricing power or a cost advantage.
- Operating cash flow vs. net income
- Compares three years of operating cash flow with three years of reported profit. Above 100% means accounting profit is fully backed by cash coming in.
- Free cash flow vs. net income
- Free cash flow is operating cash flow minus capital spending, compared with profit over three years. Above 80% means most of the profit is cash the company can actually use.
- ROIC stable and rising
- Return on invested capital measures the profit earned on all money invested in the business, by owners and lenders. The latest value must hold near its five-year median and be higher than five years ago.
- Return on equity vs. industry
- Return on equity is net income divided by shareholders' equity. It is compared with the industry median because normal levels differ a lot between industries.
- Positive EBITDA
- EBITDA is operating profit before interest, taxes, depreciation and amortization. A positive value means the core business earns money before financing and accounting charges.
- SG&A stable or falling
- Selling, general and administrative costs as a share of revenue show how heavy the overhead is. Staying at or below the five-year median means costs are under control.
- Interest coverage
- Operating income divided by interest expense shows how easily the company pays its lenders. Above 5 leaves a wide safety margin if profits fall.
- Net margin vs. industry
- Net margin is the share of revenue that ends up as net profit. It is compared with the industry median to account for different business models.
- ROA vs. industry
- Return on assets is net income divided by total assets. It shows how efficiently the company turns everything it owns into profit, compared with its peers.
- Current ratio
- Current assets divided by current liabilities measures the ability to pay bills due within a year. Above 1.5 indicates a comfortable short-term buffer.
- Total assets growing, 5 years
- Checks that total assets grew on average over five years, with at most one sharp annual decline. The allowed decline depends on the sector, and the check is skipped for software companies.
- Free cash flow CAGR, 5 years
- The average yearly growth rate of free cash flow over five years. At least 5% a year shows the cash a business produces is growing.
- Quick ratio
- Like the current ratio, but without inventory, which can be slow to turn into cash. Above 1 means short-term debts are covered by the most liquid assets.
- Net debt / EBITDA
- Financial debt minus cash, divided by EBITDA, estimates how many years of operating earnings would repay the debt. Below 3 is generally considered manageable.
- Positive free cash flow
- Free cash flow in the latest year must be above zero. It means operations fund investment without new debt or new shares.
- Revenue CAGR, 5 years
- The average yearly growth rate of revenue over five years. At least 7% a year points to a business that keeps expanding.
Data source: SEC EDGAR, company annual reports. Original 10-K (FY 2024). Last updated Oct 29, 2026. Latest fiscal year ends Dec 31, 2024.Stale data
How the score works: EdgeScore methodology. Rules version 1.0.0.
For information and education only. Not investment advice. Data may contain errors.