Mach Natural Resources LP (MNR) Balance Sheet
MNR balance sheet, 2025
December 31, 2025 · U.S. dollars$3.78B assets = $1.79B liabilities + $1.99B equity
Both columns are drawn to the same scale: what MNR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MNR financial health
Descriptive bands, not a rating. Fiscal 2025.
MNR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.23B2016 | $3.78B2025 | +13.3%/yr | |
| Total liabilities | $631.9M2016 | $1.79B2025 | +12.3%/yr | |
| Shareholders’ equity | $597.9M2016 | $1.99B2025 | +14.3%/yr | |
| Cash & short-term investments | $169.4M2016 | $42.6M2025 | −14.2%/yr | |
| Total debt | $564.5M2016 | $1.16B2025 | +8.4%/yr | |
| Net cash (debt) | −$395.2M2016 | −$1.12B2025 | −$725.8M | |
| Working capital | $178.5M2016 | $18.0M2025 | −$160.5M | |
| Book value per share | $11.132016 | $15.122025 | +3.5%/yr | |
| Current ratio | 45.652016 | 1.052025 | −44.60 | |
| Debt / equity | 0.942016 | 0.582025 | −0.36 | |
| Shares outstanding | 53.7M2016 | 131.5M2025 | +10.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MNR assets
MNR liabilities and equity
MNR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MNR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $42.6M | $105.8M | $152.8M | $29.4M | $59.3M | $132.3M | $205.4M | $164.2M | $134.0M | $169.4M |
| Cash & equivalents | $42.6M | $105.8M | $152.8M | $29.4M | $59.3M | $23.5M | $20.2M | $9.3M | $10.2M | $95.7M |
| Short-term investments | — | — | — | — | $143.5M | $108.8M | $185.2M | $154.9M | $123.8M | $73.6M |
| Receivables | $230.4M | $171.6M | $132.2M | $129.8M | $93.9M | $5.4M | $1.3M | $10.9M | $9.8M | $8.4M |
| Inventory | $43.5M | $24.3M | $31.4M | $24.7M | $4.9M | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $61.4M | $20.5M | $27.2M | $2.3M | $20.4M | $7.6M | $6.7M | $6.2M | $14.5M | $4.8M |
| Total current assets | $378.0M | $322.1M | $343.6M | $186.2M | $178.5M | $145.3M | $213.5M | $181.3M | $158.3M | $182.5M |
| Property, plant & equipment (net) | $3.35B | $2.01B | $1.94B | $698.2M | $343.2M | $5.6M | $5.7M | $5.2M | $4.2M | $4.2M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $46.5M | $10.1M | $22.2M | $3.1M | $3.7M | $1.79B | $1.65B | $1.53B | $1.28B | $1.04B |
| Total assets | $3.78B | $2.34B | $2.30B | $887.4M | $525.4M | $1.94B | $1.87B | $1.72B | $1.44B | $1.23B |
| Liabilities | ||||||||||
| Accounts payable | $69.6M | $52.4M | $47.4M | $19.4M | $7.6M | — | — | — | — | — |
| Short-term debt | $6.9M | $88.1M | $72.6M | $10.8M | — | — | — | — | — | — |
| Deferred revenue | — | −$52.6M | $89.7M | $112.4M | — | — | — | — | — | — |
| Total current liabilities | $359.9M | $352.4M | $274.9M | $153.1M | $129.4M | $4.0M | $3.6M | $5.9M | $4.5M | $4.0M |
| Long-term debt | $1.14B | $668.8M | $745.1M | $84.9M | $85.8M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $19.6M | $14.9M | $17.5M | $14.8M | $0 | — | — | — | — | — |
| Other long-term liabilities | $283.9M | $118.0M | $92.7M | $56.7M | $31.4M | $898.2M | $857.3M | $914.6M | $725.7M | $627.9M |
| Total liabilities | $1.79B | $1.14B | $1.11B | $294.2M | $246.7M | $902.2M | $860.9M | $920.5M | $730.2M | $631.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.99B | $1.20B | $1.19B | $593.2M | $278.7M | $981,000 | $964,000 | $815,031 | $756,305 | $689,210 |
| Accumulated other comprehensive income | — | — | — | — | −$2.2M | −$4.3M | −$3.4M | −$3.3M | −$3.4M | −$3.2M |
| Total shareholders' equity | $1.99B | $1.20B | $1.19B | $593.2M | $278.7M | $1.04B | $1.01B | $797.9M | $712.9M | $597.9M |
| Key figures | ||||||||||
| Total debt | $1.16B | $766.2M | $824.5M | $99.7M | $85.8M | $983.3M | $1.03B | $898.2M | $711.5M | $564.5M |
| Net cash (debt) | −$1.12B | −$660.4M | −$671.7M | −$70.3M | −$26.5M | −$851.0M | −$819.7M | −$733.9M | −$577.5M | −$395.2M |
| Working capital | $18.0M | −$30.3M | $68.7M | $33.2M | $49.0M | $141.3M | $209.9M | $175.4M | $153.8M | $178.5M |
| Tangible book value | $1.99B | $1.20B | $1.19B | $593.2M | $278.7M | $1.04B | $1.01B | $797.9M | $712.9M | $597.9M |
| Book value per share | $15.12 | $12.27 | $12.56 | $6.24 | $2.93 | $19.32 | $18.82 | $14.85 | $13.27 | $11.13 |
| Shares outstanding | 131.5M | 97.7M | 94.9M | 95.0M | 95.0M | 53.7M | 53.7M | 53.7M | 53.7M | 53.7M |
| Current ratio | 1.05 | 0.91 | 1.25 | 1.22 | 1.38 | 36.35 | 59.80 | 30.78 | 35.57 | 45.65 |
| Quick ratio | 0.76 | 0.79 | 1.04 | 1.04 | 1.18 | 34.46 | 57.92 | 29.73 | 32.31 | 44.44 |
| Debt / equity | 0.58 | 0.64 | 0.69 | 0.17 | 0.31 | 0.95 | 1.01 | 1.13 | 1.00 | 0.94 |
| Equity / assets | 52.7% | 51.3% | 51.7% | 66.8% | 53.0% | 53.5% | 54.0% | 46.4% | 49.4% | 48.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $41.2M | $52.7M | $42.6M | $53.6M | $13.8M | $7.8M | $105.8M | $184.5M | $144.6M | $151.3M | $152.8M | $58.7M |
| Cash & equivalents | $41.2M | $52.7M | $42.6M | $53.6M | $13.8M | $7.8M | $105.8M | $184.5M | $144.6M | $151.3M | $152.8M | $58.7M |
| Receivables | $215.3M | $229.3M | $230.4M | $213.5M | $146.9M | $156.7M | $171.6M | $133.2M | $146.5M | $157.3M | $132.2M | $90.1M |
| Inventory | $42.4M | $42.5M | $43.5M | $49.4M | $25.8M | $25.1M | $24.3M | $26.3M | $27.5M | $31.4M | $31.4M | $17.6M |
| Other current assets | $17.8M | $18.0M | $61.4M | $58.6M | $22.7M | $6.1M | $20.5M | $36.4M | $16.5M | $14.1M | $27.2M | $3.5M |
| Total current assets | $316.7M | $342.4M | $378.0M | $375.1M | $209.2M | $195.7M | $322.1M | $380.5M | $335.1M | $354.1M | $343.6M | $170.0M |
| Property, plant & equipment (net) | $261.1M | $3.32B | $3.35B | $3.35B | $2.09B | $2.02B | $2.01B | $1.92B | $1.89B | $1.95B | $1.94B | $882.0M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.10B | $31.1M | $46.5M | $47.8M | $33.6M | $27.4M | $10.1M | $22.3M | $9.6M | $11.9M | $22.2M | $2.8M |
| Total assets | $3.68B | $3.69B | $3.78B | $3.77B | $2.33B | $2.24B | $2.34B | $2.33B | $2.24B | $2.32B | $2.30B | $1.05B |
| Liabilities | ||||||||||||
| Accounts payable | $81.7M | $84.9M | $69.6M | $86.1M | $48.5M | $43.9M | $52.4M | $42.5M | $37.8M | $60.2M | $47.4M | $34.1M |
| Short-term debt | $8.9M | $7.5M | $6.9M | $6.7M | $5.3M | $5.0M | $88.1M | $88.9M | $90.0M | $90.9M | $72.6M | $8.8M |
| Deferred revenue | — | — | — | — | — | — | — | — | $168.5M | — | — | $89.7M |
| Total current liabilities | $361.7M | $411.4M | $359.9M | $375.1M | $266.3M | $281.9M | $352.4M | $306.2M | $319.7M | $353.1M | $274.9M | $136.2M |
| Long-term debt | $1.17B | $1.13B | $1.14B | $1.14B | $565.0M | $460.0M | $668.8M | $687.7M | $706.9M | $725.6M | $745.1M | $91.9M |
| Lease obligations | $21.4M | $20.1M | $19.6M | $21.1M | $15.6M | $13.8M | $14.9M | $11.1M | $12.9M | $13.6M | $17.5M | $12.1M |
| Other long-term liabilities | $299.8M | $298.9M | $283.9M | $289.5M | $127.1M | $121.9M | $118.0M | $107.6M | $95.3M | $94.0M | $92.7M | $59.9M |
| Total liabilities | $1.83B | $1.84B | $1.79B | $1.81B | $958.5M | $863.7M | $1.14B | $1.10B | $1.12B | $1.17B | $1.11B | $288.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | $1.99B | $1.96B | $1.38B | $1.38B | $1.20B | $1.22B | $1.11B | $1.14B | — | $766.8M |
| Total shareholders' equity | $1.84B | $1.85B | $1.99B | $1.96B | $1.38B | $1.38B | $1.20B | $1.22B | $1.11B | $1.14B | $1.19B | $766.8M |
| Key figures | ||||||||||||
| Total debt | $1.19B | $1.15B | $1.16B | $1.17B | $580.6M | $473.8M | $766.2M | $781.3M | $802.3M | $821.7M | $824.5M | $104.0M |
| Net cash (debt) | −$1.15B | −$1.10B | −$1.12B | −$1.11B | −$566.8M | −$466.0M | −$660.4M | −$596.8M | −$657.7M | −$670.4M | −$671.7M | −$45.3M |
| Working capital | −$45.1M | −$69.0M | $18.0M | $20,000 | −$57.2M | −$86.2M | −$30.3M | $74.3M | $15.4M | $965,000 | $68.7M | $33.7M |
| Tangible book value | $1.84B | $1.85B | $1.99B | $1.96B | $1.38B | $1.38B | $1.20B | $1.22B | $1.11B | $1.14B | $1.19B | $766.8M |
| Book value per share | $10.97 | $10.98 | $15.12 | $15.53 | $11.62 | $12.28 | $11.26 | $12.62 | $11.69 | $12.04 | $12.54 | $8.07 |
| Shares outstanding | 168.0M | 168.3M | 131.5M | 126.5M | 118.4M | 112.2M | 106.5M | 97.0M | 95.2M | 95.0M | 95.0M | 95.0M |
| Current ratio | 0.88 | 0.83 | 1.05 | 1.00 | 0.79 | 0.69 | 0.91 | 1.24 | 1.05 | 1.00 | 1.25 | 1.25 |
| Quick ratio | 0.71 | 0.69 | 0.76 | 0.71 | 0.60 | 0.58 | 0.79 | 1.04 | 0.91 | 0.87 | 1.04 | 1.09 |
| Debt / equity | 0.65 | 0.62 | 0.58 | 0.59 | 0.42 | 0.34 | 0.64 | 0.64 | 0.72 | 0.72 | 0.69 | 0.14 |
| Equity / assets | 50.2% | 50.1% | 52.7% | 52.1% | 58.9% | 61.5% | 51.3% | 52.6% | 49.8% | 49.4% | 51.7% | 72.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.
MNR financial position
At the end of fiscal 2025 (December 31, 2025), Mach Natural Resources had total assets of $3.8 billion (up 61.5% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $2.0 billion. It held $42.6 million in cash and short-term investments against $1.2 billion of debt, net debt of $1.1 billion. Its current ratio was 1.05. In the latest quarter (ended June 30, 2026) total assets were $3.7 billion and equity $1.8 billion.
Related: MNR income statement, MNR cash flow statement, MNR key metrics. See the MNR stock overview for the latest quote and news.
MNR balance sheet FAQ
What are Mach Natural Resources's total assets?
Mach Natural Resources reported total assets of $3.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.3 billion a year earlier.
How much debt does Mach Natural Resources have?
Mach Natural Resources had $1.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.58.
How much cash does Mach Natural Resources have?
Mach Natural Resources held $42.6 million in cash and short-term investments at the end of fiscal 2025; with $1.2 billion of debt that is net debt of $1.1 billion.
What is Mach Natural Resources's book value?
Mach Natural Resources's shareholders' equity (book value) was $2.0 billion at the end of fiscal 2025, or $15.12 per share.
What is Mach Natural Resources's current ratio?
Mach Natural Resources had current assets of $378.0 million and current liabilities of $359.9 million, a current ratio of 1.05 (it can cover its short-term obligations).