NRP Valuation

Natural Resource Partners LP

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103.560

-1.54(-1.465%)1D

NRP Relative Valuation

NRP's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, NRP is overvalued; if below, it's undervalued.

Historical Valuation

Natural Resource Partners LP (NRP) is now in the Overvalued zone, suggesting that its current forward PE ratio of 35.03 is considered Overvalued compared with the five-year average of 19.61. The fair price of Natural Resource Partners LP (NRP) is between 29.07 to 96.47 according to relative valuation methord. Compared to the current price of 105.46 USD , Natural Resource Partners LP is Overvalued By 9.32%.

Relative Value

Fair Zone

29.07-96.47

Current Price：105.46

9.32%

Overvalued

34.52

Trailing

Forward

9.23

EV/EBITDA

Natural Resource Partners LP. (NRP) has a current EV/EBITDA of 9.23. The 5-year average EV/EBITDA is 7.26. The thresholds are as follows: Strongly Undervalued below 3.86, Undervalued between 3.86 and 5.56, Fairly Valued between 8.96 and 5.56, Overvalued between 8.96 and 10.67, and Strongly Overvalued above 10.67. The current Forward EV/EBITDA of 9.23 falls within the Overvalued range.

9.85

EV/EBIT

Natural Resource Partners LP. (NRP) has a current EV/EBIT of 9.85. The 5-year average EV/EBIT is 7.81. The thresholds are as follows: Strongly Undervalued below 4.24, Undervalued between 4.24 and 6.03, Fairly Valued between 9.59 and 6.03, Overvalued between 9.59 and 11.37, and Strongly Overvalued above 11.37. The current Forward EV/EBIT of 9.85 falls within the Overvalued range.

103.56

Natural Resource Partners LP. (NRP) has a current PS of 103.56. The 5-year average PS is 4.82. The thresholds are as follows: Strongly Undervalued below -15.96, Undervalued between -15.96 and -5.57, Fairly Valued between 15.21 and -5.57, Overvalued between 15.21 and 25.60, and Strongly Overvalued above 25.60. The current Forward PS of 103.56 falls within the Strongly Overvalued range.

0.00

P/OCF

Natural Resource Partners LP. (NRP) has a current P/OCF of 0.00. The 5-year average P/OCF is 0.48. The thresholds are as follows: Strongly Undervalued below -1.50, Undervalued between -1.50 and -0.51, Fairly Valued between 1.47 and -0.51, Overvalued between 1.47 and 2.46, and Strongly Overvalued above 2.46. The current Forward P/OCF of 0.00 falls within the Historic Trend Line -Fairly Valued range.

0.00

P/FCF

Natural Resource Partners LP. (NRP) has a current P/FCF of 0.00. The 5-year average P/FCF is 0.00. The thresholds are as follows: Strongly Undervalued below 0.00, Undervalued between 0.00 and 0.00, Fairly Valued between 0.00 and 0.00, Overvalued between 0.00 and 0.00, and Strongly Overvalued above 0.00. The current Forward P/FCF of 0.00 falls within the Strongly Undervalued range.

Natural Resource Partners LP (NRP) has a current Price-to-Book (P/B) ratio of 2.30. Compared to its 3-year average P/B ratio of 2.11 , the current P/B ratio is approximately 9.23% higher. Relative to its 5-year average P/B ratio of 1.83, the current P/B ratio is about 25.60% higher. Natural Resource Partners LP (NRP) has a Forward Free Cash Flow (FCF) yield of approximately 0.00%. Compared to its 3-year average FCF yield of 28.16%, the current FCF yield is approximately -100.00% lower. Relative to its 5-year average FCF yield of 30.44% , the current FCF yield is about -100.00% lower.

2.27

P/B

Median3y

2.11

Median5y

1.83

13.55

FCF Yield

Median3y

28.16

Median5y

30.44

Competitors Valuation Multiple

The average P/S ratio for NRP's competitors is 59.94, providing a benchmark for relative valuation. Natural Resource Partners LP Corp (NRP) exhibits a P/S ratio of 103.56, which is 72.78% above the industry average. Given its robust revenue growth of -1.54%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

NRP.N

Natural Resource Partners LP

Alpha Metallurgical Resources Inc

American Resources Corp

Performance Decomposition

Market capitalization of NRP decreased by 5.42% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 8.26 to 9.48.

The secondary factor is the Revenue Growth, contributed -1.54%to the performance.

Overall, the performance of NRP in the past 1 year is driven by P/E Change. Which is more unsustainable.

-1.54%

52.22M → 51.42M

Revenue Growth

-18.67%

73.91 → 60.11

Margin Expansion

14.79%

8.26 → 9.48

P/E Change

-5.42%