Mach Natural Resources LP (MNR) Key Metrics
MNR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.85B
- Enterprise value
- $2.90B
- P/E (TTM)
- 18.4 10-yr median 5.1
- Forward P/E
- 8.1
- PEG ratio
- —
- Price / sales
- 1.4 10-yr median 1.7
- Price / book
- 0.9 10-yr median 1.3
- EV / EBITDA
- 5.3 10-yr median 4.5
- Dividend yield
- 16.26% $1.80 a year
- Beta
- −0.37
MNR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMNR valuation Price multiples at each fiscal year-end price.
MNR returns How much profit the business earns on the capital it uses.
MNR per-share figures Results divided by the shares outstanding at year-end.
MNR financial health Debt, liquidity and how easily interest is covered.
MNR efficiency & capital use Working capital cycle and where the cash goes.
MNR valuation history
MNR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MNR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MNR cash returned to shareholders
MNR price vs earnings per share
MNR key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.45B | $1.68B | $1.57B | — | — | — | — | — | — | — |
| Enterprise value | $2.57B | $2.34B | $2.24B | — | — | — | — | — | — | — |
| P/E ratio | 5.1 | 9.1 | 4.5 | — | — | — | — | — | — | — |
| Price / sales | 1.2 | 1.7 | 2.1 | — | — | — | — | — | — | — |
| Price / book | 0.7 | 1.4 | 1.3 | — | — | — | — | — | — | — |
| Price / free cash flow | 6.1 | 5.9 | 8.8 | — | — | — | — | — | — | — |
| Price / operating cash flow | 2.9 | 3.3 | 3.2 | — | — | — | — | — | — | — |
| EV / sales | 2.2 | 2.4 | 2.9 | — | — | — | — | — | — | — |
| EV / EBITDA | 5.1 | 4.2 | 4.5 | — | — | — | — | — | — | — |
| EV / free cash flow | 10.9 | 8.2 | 12.6 | — | — | — | — | — | — | — |
| Earnings yield | 19.7% | 11.0% | 22.1% | — | — | — | — | — | — | — |
| Free cash flow yield | 16.3% | 17.0% | 11.3% | — | — | — | — | — | — | — |
| Dividend yield | 16.8% | 18.5% | 6.5% | — | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 16.8% | 18.6% | 10.7% | — | — | — | — | — | — | — |
| Share price at fiscal year-end | $11.04 | $17.18 | $16.49 | — | — | — | — | — | — | — |
| Per share | ||||||||||
| Revenue per share | $8.94 | $9.92 | $8.03 | $9.87 | $4.13 | $3.12 | $2.95 | $2.59 | $2.11 | $1.77 |
| Earnings per share | $2.17 | $1.90 | $3.65 | $5.44 | $1.46 | −$0.41 | $0.55 | $1.04 | $0.75 | $0.60 |
| Operating cash flow per share | $3.85 | $5.17 | $5.18 | $5.83 | $2.09 | $1.84 | $1.89 | $1.59 | $1.38 | $1.02 |
| Free cash flow per share | $1.80 | $2.92 | $1.86 | $3.27 | $1.66 | $1.85 | $1.78 | $1.42 | $1.28 | $0.62 |
| Cash per share | $0.32 | $1.08 | $1.61 | $0.31 | $0.62 | $2.46 | $3.82 | $3.06 | $2.49 | $3.15 |
| Book value per share | $15.12 | $12.27 | $12.56 | $6.24 | $2.93 | $19.32 | $18.82 | $14.85 | $13.27 | $11.13 |
| Tangible book value per share | $15.12 | $12.27 | $12.56 | $6.24 | $2.93 | $19.32 | $18.82 | $14.85 | $13.27 | $11.13 |
| Dividends per share | $1.86 | $3.17 | $1.07 | $2.89 | $0.77 | $1.58 | $1.22 | $1.07 | $0.94 | $0.79 |
| Capex per share | $2.06 | $2.26 | $3.32 | $2.56 | $0.43 | $0.01 | $0.11 | $0.17 | $0.09 | $0.40 |
| Debt per share | $8.85 | $7.84 | $8.69 | $1.05 | $0.90 | $18.31 | $19.08 | $16.72 | $13.24 | $10.51 |
| Shares outstanding | 131.5M | 97.7M | 94.9M | 95.0M | 95.0M | 53.7M | 53.7M | 53.7M | 53.7M | 53.7M |
| Change in shares outstanding | +34.6% | +2.9% | −0.1% | 0.0% | +76.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 17.9% | 15.5% | 38.8% | 118.6% | 21.0% | −2.2% | 3.3% | 7.4% | 6.1% | 6.2% |
| Return on invested capital (ROIC) | 10.7% | 12.3% | 14.2% | 107.2% | 14.2% | −0.9% | 0.9% | 3.0% | 3.9% | 3.8% |
| Return on assets (ROA) | 9.4% | 8.0% | 21.7% | 73.2% | 11.2% | −1.2% | 1.7% | 3.5% | 3.0% | 3.0% |
| Return on tangible assets | 7.6% | 7.9% | 15.0% | 58.2% | 26.3% | −1.1% | 1.6% | 3.3% | 2.8% | 2.6% |
| Free cash flow margin | 20.1% | 29.4% | 23.2% | 33.1% | 40.1% | 59.1% | 60.4% | 54.8% | 60.7% | 34.9% |
| Income quality (OCF / net income) | 1.77 | 2.73 | 1.42 | 1.07 | 1.43 | — | 3.41 | 1.53 | 1.83 | 1.68 |
| Financial health | ||||||||||
| Total debt | $1.16B | $766.2M | $824.5M | $99.7M | $85.8M | $983.3M | $1.03B | $898.2M | $711.5M | $564.5M |
| Cash & short-term investments | $42.6M | $105.8M | $152.8M | $29.4M | $59.3M | $132.3M | $205.4M | $164.2M | $134.0M | $169.4M |
| Net debt | $1.12B | $660.4M | $671.7M | $70.3M | $26.5M | $851.0M | $819.7M | $733.9M | $577.5M | $395.2M |
| Debt / equity | 0.58 | 0.64 | 0.69 | 0.17 | 0.31 | 0.95 | 1.01 | 1.13 | 1.00 | 0.94 |
| Debt / assets | 0.31 | 0.33 | 0.36 | 0.11 | 0.16 | 0.51 | 0.55 | 0.52 | 0.49 | 0.46 |
| Net debt / EBITDA | 2.21 | 1.18 | 1.36 | 0.12 | 0.15 | 12.99 | 7.20 | 5.73 | 5.85 | 4.85 |
| Current ratio | 1.05 | 0.91 | 1.25 | 1.22 | 1.38 | 36.35 | 59.80 | 30.78 | 35.57 | 45.65 |
| Quick ratio | 0.93 | 0.84 | 1.14 | 1.06 | 1.34 | 36.35 | 59.80 | 30.78 | 35.57 | 45.65 |
| Interest coverage | 4.6 | 2.8 | 32.1 | 107.7 | 93.8 | -0.6 | 0.8 | 2.1 | 2.2 | 2.1 |
| Working capital | $18.0M | −$30.3M | $68.7M | $33.2M | $49.0M | $141.3M | $209.9M | $175.4M | $153.8M | $178.5M |
| Invested capital | $3.11B | $1.86B | $1.86B | $663.5M | $305.2M | $1.89B | $1.83B | $1.53B | $1.29B | $993.0M |
| Tangible asset value | $1.99B | $1.20B | $1.19B | $593.2M | $278.7M | $1.04B | $1.01B | $797.9M | $712.9M | $597.9M |
| Net current asset value | −$1.41B | −$817.1M | −$769.2M | −$108.0M | −$68.2M | −$756.8M | −$647.4M | −$739.1M | −$571.9M | −$449.4M |
| Graham number | $27.20 | $22.88 | $32.12 | $27.65 | $9.81 | — | $15.33 | $18.67 | $14.96 | $12.31 |
| Graham net-net per share | −$11.79 | −$9.14 | −$8.91 | −$1.63 | −$1.21 | −$14.26 | −$12.18 | −$13.93 | −$10.96 | −$8.49 |
| Capital allocation | ||||||||||
| Dividends paid | $244.5M | $309.8M | $101.3M | $274.8M | $72.9M | $84.7M | $65.3M | $57.5M | $50.7M | $42.3M |
| Share buybacks (net) | $0 | $1.6M | $66.3M | $274.8M | $146.0M | $4.3M | — | — | $111.0M | — |
| Dividend payout ratio | 85.5% | 167.3% | 29.2% | 53.2% | 52.7% | — | 219.2% | 102.7% | 125.8% | 130.1% |
| Dividends + buybacks / free cash flow | 103.4% | 109.3% | 94.7% | 177.0% | 139.0% | 89.7% | 68.2% | 75.3% | 234.7% | 127.6% |
| Capex / revenue | 23.0% | 22.7% | 41.3% | 25.9% | 10.4% | 0.2% | 3.7% | 6.5% | 4.4% | 22.7% |
| Capex / operating cash flow | 53.4% | 43.6% | 64.0% | 43.9% | 20.7% | 0.3% | 5.7% | 10.6% | 6.7% | 39.4% |
| Capex / depreciation | 0.92 | 0.81 | 2.29 | 2.74 | 0.73 | 0.01 | 0.12 | 0.23 | 0.15 | 0.79 |
| Stock-based compensation / revenue | 0.8% | 0.7% | 0.5% | 0.8% | 11.5% | 0.3% | 0.5% | 0.3% | 0.6% | 1.0% |
| SG&A / revenue | 4.8% | 4.2% | 3.6% | 2.7% | 15.5% | 5.3% | 5.7% | 6.3% | 6.9% | 8.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 62.4 | 57.2 | 62.7 | 43.5 | 46.2 | 7.4 | 14.1 | 27.1 | 29.2 | 27.6 |
| Days of inventory on hand | 15.8 | 15.9 | 27.3 | 13.9 | 10.2 | — | — | — | — | — |
| Days payables outstanding | 28.4 | 28.6 | 32.5 | 12.7 | 15.7 | — | — | — | — | — |
| Cash conversion cycle (days) | 49.8 | 44.5 | 57.5 | 44.8 | 40.7 | — | — | — | — | — |
| Receivables turnover | 5.85 | 6.38 | 5.82 | 8.38 | 7.90 | 49.61 | 25.90 | 13.46 | 12.50 | 13.23 |
| Payables turnover | 12.84 | 12.77 | 11.23 | 28.85 | 23.23 | — | — | — | — | — |
| Inventory turnover | 23.10 | 22.91 | 13.39 | 26.28 | 35.64 | — | — | — | — | — |
| Asset turnover | 0.38 | 0.42 | 0.48 | 1.33 | 0.32 | 0.09 | 0.09 | 0.09 | 0.08 | 0.09 |
| Average receivables | $201.0M | $151.9M | $131.0M | $111.8M | $49.7M | $3.4M | $6.1M | $10.4M | $9.1M | $7.2M |
| Average payables | $61.0M | $49.9M | $33.4M | $13.5M | $7.6M | — | — | — | — | — |
| Average inventory | $33.9M | $27.8M | $28.0M | $14.8M | $4.9M | — | — | — | — | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from MNR's annual financial statements (latest annual report filed March 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MNR valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Mach Natural Resources traded at 5.1 times earnings, against a 10-year median of 5.1. Based on the latest twelve months, the trailing P/E is 18.4 and the forward P/E is 8.1. Mach Natural Resources earned a return on equity of 17.9% and a return on invested capital of 10.7% in fiscal 2025. It ended the year with $1.2 billion of debt and $42.6 million in cash and short-term investments, net debt of $1.1 billion. It returned $244.5 million to shareholders: $244.5 million in dividends and $0 in share buybacks, 103% of free cash flow. The share count rose 144.9% from 53.7M to 131.5M over 9 years.
See the MNR income statement, the MNR chart for price history, or the MNR stock overview for the latest quote and news.
MNR key metrics FAQ
What is Mach Natural Resources's P/E ratio?
Mach Natural Resources's trailing P/E ratio is 18.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 8.1. At the end of fiscal 2025 it was 5.1, compared with a 10-year median of 5.1.
What is Mach Natural Resources's EV/EBITDA?
Mach Natural Resources's enterprise value was 5.1 times EBITDA at the end of fiscal 2025 (enterprise value $2.6 billion, EBITDA $508.0 million); the current EV/EBITDA is 5.3.
What is Mach Natural Resources's return on equity?
Mach Natural Resources's return on equity (ROE) was 17.9% in fiscal 2025: net income of $286.0 million on average shareholders' equity of $1.6 billion.
What is Mach Natural Resources's ROIC?
Mach Natural Resources's return on invested capital was 10.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Mach Natural Resources have?
Mach Natural Resources had total debt of $1.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.58 and $1.1 billion of net debt (2.21 times EBITDA).
What is Mach Natural Resources's dividend yield?
Mach Natural Resources's forward dividend yield is 16.26%. Mach Natural Resources paid $244.5 million in dividends in fiscal 2025 ($1.86 per share), a payout ratio of 85.5%.
What is Mach Natural Resources's free cash flow yield?
Mach Natural Resources generated $236.4 million of free cash flow in fiscal 2025, a free cash flow yield of 16.3% on its market value at year-end ($1.5 billion).
What is Mach Natural Resources's current ratio?
Mach Natural Resources's current ratio was 1.05 at the end of fiscal 2025: current assets were 1.05 times current liabilities.