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Side-by-side financial comparison of Alto Ingredients, Inc. (ALTO) and MACH NATURAL RESOURCES LP (MNR). Click either name above to swap in a different company.

MACH NATURAL RESOURCES LP is the larger business by last-quarter revenue ($387.5M vs $232.0M, roughly 1.7× Alto Ingredients, Inc.). MACH NATURAL RESOURCES LP runs the higher net margin — 18.9% vs 9.4%, a 9.5% gap on every dollar of revenue. On growth, MACH NATURAL RESOURCES LP posted the faster year-over-year revenue change (65.0% vs -1.9%). Over the past eight quarters, MACH NATURAL RESOURCES LP's revenue compounded faster (27.3% CAGR vs -1.8%).

Palo Alto Networks, Inc. is an American multinational cybersecurity company with headquarters in Santa Clara, California. The core product is a platform that includes advanced firewalls and cloud-based offerings that extend those firewalls to cover other aspects of security. The company serves over 70,000 organizations in over 150 countries, including 85 of the Fortune 100. It is home to the Unit 42 threat research team and hosts the Ignite cybersecurity conference. It is a partner organizati...

Mach Natural Resources LP is a US-based upstream energy enterprise focused on the exploration, development, and production of oil, natural gas, and natural gas liquids. Its core operations are located in onshore US hydrocarbon basins including the Permian Basin, prioritizing low-cost, high-yield assets to drive sustainable returns for stakeholders.

ALTO vs MNR — Head-to-Head

Bigger by revenue
MNR
MNR
1.7× larger
MNR
$387.5M
$232.0M
ALTO
Growing faster (revenue YoY)
MNR
MNR
+66.8% gap
MNR
65.0%
-1.9%
ALTO
Higher net margin
MNR
MNR
9.5% more per $
MNR
18.9%
9.4%
ALTO
Faster 2-yr revenue CAGR
MNR
MNR
Annualised
MNR
27.3%
-1.8%
ALTO

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ALTO
ALTO
MNR
MNR
Revenue
$232.0M
$387.5M
Net Profit
$21.8M
$73.1M
Gross Margin
6.5%
Operating Margin
3.2%
26.1%
Net Margin
9.4%
18.9%
Revenue YoY
-1.9%
65.0%
Net Profit YoY
152.3%
100.2%
EPS (diluted)
$0.28
$0.47

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ALTO
ALTO
MNR
MNR
Q4 25
$232.0M
$387.5M
Q3 25
$241.0M
$272.6M
Q2 25
$218.4M
$288.5M
Q1 25
$226.5M
$226.8M
Q4 24
$236.3M
$234.9M
Q3 24
$251.8M
$255.5M
Q2 24
$236.5M
$240.0M
Q1 24
$240.6M
$239.2M
Net Profit
ALTO
ALTO
MNR
MNR
Q4 25
$21.8M
$73.1M
Q3 25
$14.2M
$-35.7M
Q2 25
$-11.0M
$89.7M
Q1 25
$-11.7M
$15.9M
Q4 24
$-41.7M
$36.5M
Q3 24
$-2.4M
$67.4M
Q2 24
$-3.1M
$39.5M
Q1 24
$-11.7M
$41.7M
Gross Margin
ALTO
ALTO
MNR
MNR
Q4 25
6.5%
Q3 25
9.7%
Q2 25
-0.9%
Q1 25
-0.8%
Q4 24
-0.6%
Q3 24
2.4%
Q2 24
3.2%
Q1 24
-1.0%
Operating Margin
ALTO
ALTO
MNR
MNR
Q4 25
3.2%
26.1%
Q3 25
7.0%
-7.0%
Q2 25
-3.7%
38.6%
Q1 25
-4.0%
22.8%
Q4 24
-16.6%
24.9%
Q3 24
-0.3%
37.1%
Q2 24
-0.6%
29.4%
Q1 24
-4.3%
28.1%
Net Margin
ALTO
ALTO
MNR
MNR
Q4 25
9.4%
18.9%
Q3 25
5.9%
-13.1%
Q2 25
-5.0%
31.1%
Q1 25
-5.2%
7.0%
Q4 24
-17.6%
15.5%
Q3 24
-1.0%
26.4%
Q2 24
-1.3%
16.5%
Q1 24
-4.9%
17.4%
EPS (diluted)
ALTO
ALTO
MNR
MNR
Q4 25
$0.28
$0.47
Q3 25
$0.19
$-0.28
Q2 25
$-0.15
$0.76
Q1 25
$-0.16
$0.14
Q4 24
$-0.56
$0.34
Q3 24
$-0.04
$0.70
Q2 24
$-0.05
$0.42
Q1 24
$-0.17
$0.44

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ALTO
ALTO
MNR
MNR
Cash + ST InvestmentsLiquidity on hand
$23.4M
$42.6M
Total DebtLower is stronger
$84.6M
Stockholders' EquityBook value
$245.2M
Total Assets
$388.8M
$3.8B
Debt / EquityLower = less leverage
0.34×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ALTO
ALTO
MNR
MNR
Q4 25
$23.4M
$42.6M
Q3 25
$32.5M
$53.6M
Q2 25
$29.8M
$13.8M
Q1 25
$26.8M
$7.8M
Q4 24
$35.5M
$105.8M
Q3 24
$33.6M
$184.5M
Q2 24
$27.1M
$144.6M
Q1 24
$29.3M
$151.3M
Total Debt
ALTO
ALTO
MNR
MNR
Q4 25
$84.6M
Q3 25
$106.0M
Q2 25
$124.2M
Q1 25
$117.0M
Q4 24
$99.7M
Q3 24
$90.6M
Q2 24
$98.6M
Q1 24
$92.2M
Stockholders' Equity
ALTO
ALTO
MNR
MNR
Q4 25
$245.2M
Q3 25
$222.4M
Q2 25
$207.8M
Q1 25
$213.9M
Q4 24
$225.1M
Q3 24
$263.9M
Q2 24
$265.8M
Q1 24
$268.7M
Total Assets
ALTO
ALTO
MNR
MNR
Q4 25
$388.8M
$3.8B
Q3 25
$388.5M
$3.8B
Q2 25
$393.1M
$2.3B
Q1 25
$402.2M
$2.2B
Q4 24
$401.4M
$2.3B
Q3 24
$417.4M
$2.3B
Q2 24
$432.5M
$2.2B
Q1 24
$434.6M
$2.3B
Debt / Equity
ALTO
ALTO
MNR
MNR
Q4 25
0.34×
Q3 25
0.48×
Q2 25
0.60×
Q1 25
0.55×
Q4 24
0.44×
Q3 24
0.34×
Q2 24
0.37×
Q1 24
0.34×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ALTO
ALTO
MNR
MNR
Operating Cash FlowLast quarter
$9.5M
$128.7M
Free Cash FlowOCF − Capex
$7.6M
FCF MarginFCF / Revenue
3.3%
Capex IntensityCapex / Revenue
0.8%
Cash ConversionOCF / Net Profit
0.44×
1.76×
TTM Free Cash FlowTrailing 4 quarters
$8.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ALTO
ALTO
MNR
MNR
Q4 25
$9.5M
$128.7M
Q3 25
$22.8M
$105.5M
Q2 25
$-848.0K
$130.1M
Q1 25
$-18.2M
$142.5M
Q4 24
$-9.8M
$133.7M
Q3 24
$18.6M
$110.8M
Q2 24
$-13.7M
$116.8M
Q1 24
$1.4M
$144.0M
Free Cash Flow
ALTO
ALTO
MNR
MNR
Q4 25
$7.6M
Q3 25
$21.2M
Q2 25
$-1.3M
Q1 25
$-18.8M
Q4 24
$-11.1M
Q3 24
$18.1M
Q2 24
$-18.4M
Q1 24
$-3.2M
FCF Margin
ALTO
ALTO
MNR
MNR
Q4 25
3.3%
Q3 25
8.8%
Q2 25
-0.6%
Q1 25
-8.3%
Q4 24
-4.7%
Q3 24
7.2%
Q2 24
-7.8%
Q1 24
-1.3%
Capex Intensity
ALTO
ALTO
MNR
MNR
Q4 25
0.8%
Q3 25
0.7%
Q2 25
0.2%
Q1 25
0.2%
Q4 24
0.5%
Q3 24
0.2%
Q2 24
2.0%
Q1 24
1.9%
Cash Conversion
ALTO
ALTO
MNR
MNR
Q4 25
0.44×
1.76×
Q3 25
1.60×
Q2 25
1.45×
Q1 25
8.97×
Q4 24
3.66×
Q3 24
1.64×
Q2 24
2.96×
Q1 24
3.45×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

ALTO
ALTO

Pekin Campus Production$105.1M45%
Total Marketing And Distribution Sales$57.9M25%
Marketing And Distributions$55.6M24%
Other$11.2M5%
Kodiak Carbonic LLC$2.1M1%

MNR
MNR

Oil Gas And Natural Gas Liquids Net$331.0M85%
Natural Gas Liquids Reserves$44.8M12%
Natural Gas Midstream$8.6M2%
Products$6.3M2%

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