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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and NATURAL RESOURCE PARTNERS LP (NRP). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $51.3M, roughly 1.4× NATURAL RESOURCE PARTNERS LP). NATURAL RESOURCE PARTNERS LP runs the higher net margin — 78.5% vs -16.1%, a 94.7% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs -21.8%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs -8.3%).
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
Natural Resource Partners LP is a U.S.-headquartered master limited partnership that owns, manages and leases mineral reserve interests. Its asset portfolio covers coal, aggregates, industrial minerals and oil & gas, with operations primarily across North America, deriving most revenue from royalties paid by third-party resource extraction operators.
GSAT vs NRP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $51.3M |
| Net Profit | $-11.6M | $40.3M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | 83.7% |
| Net Margin | -16.1% | 78.5% |
| Revenue YoY | 17.6% | -21.8% |
| Net Profit YoY | 76.9% | -28.4% |
| EPS (diluted) | $-0.11 | — |
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.
| Q4 25 | $72.0M | — | ||
| Q3 25 | $73.8M | — | ||
| Q2 25 | $67.1M | — | ||
| Q1 25 | $60.0M | $51.3M | ||
| Q4 24 | $61.2M | $61.8M | ||
| Q3 24 | $72.3M | $50.4M | ||
| Q2 24 | $60.4M | $54.6M | ||
| Q1 24 | $56.5M | $65.6M |
| Q4 25 | $-11.6M | — | ||
| Q3 25 | $1.1M | — | ||
| Q2 25 | $19.2M | — | ||
| Q1 25 | $-17.3M | $40.3M | ||
| Q4 24 | $-50.2M | $42.8M | ||
| Q3 24 | $9.9M | $38.6M | ||
| Q2 24 | $-9.7M | $46.1M | ||
| Q1 24 | $-13.2M | $56.2M |
| Q4 25 | -0.5% | — | ||
| Q3 25 | 13.8% | — | ||
| Q2 25 | 9.2% | — | ||
| Q1 25 | -14.2% | 83.7% | ||
| Q4 24 | -6.9% | 74.9% | ||
| Q3 24 | 13.0% | 84.9% | ||
| Q2 24 | -2.4% | 92.3% | ||
| Q1 24 | -8.3% | 91.0% |
| Q4 25 | -16.1% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 28.6% | — | ||
| Q1 25 | -28.9% | 78.5% | ||
| Q4 24 | -82.1% | 69.2% | ||
| Q3 24 | 13.7% | 76.6% | ||
| Q2 24 | -16.0% | 84.4% | ||
| Q1 24 | -23.4% | 85.7% |
| Q4 25 | $-0.11 | — | ||
| Q3 25 | $-0.01 | — | ||
| Q2 25 | $0.13 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.57 | — | ||
| Q3 24 | $0.00 | — | ||
| Q2 24 | $-0.01 | — | ||
| Q1 24 | $-0.01 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $447.5M | $30.9M |
| Total DebtLower is stronger | $483.8M | $138.8M |
| Stockholders' EquityBook value | $355.7M | — |
| Total Assets | $2.3B | $772.5M |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | — | ||
| Q3 25 | $346.3M | — | ||
| Q2 25 | $308.2M | — | ||
| Q1 25 | $241.4M | $30.9M | ||
| Q4 24 | $391.2M | $30.4M | ||
| Q3 24 | $51.9M | $30.9M | ||
| Q2 24 | $64.3M | $32.3M | ||
| Q1 24 | $59.3M | $11.0M |
| Q4 25 | $483.8M | — | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | $138.8M | ||
| Q4 24 | $511.4M | $142.1M | ||
| Q3 24 | $394.4M | $197.4M | ||
| Q2 24 | $393.1M | $210.3M | ||
| Q1 24 | $398.7M | $188.8M |
| Q4 25 | $355.7M | — | ||
| Q3 25 | $364.8M | — | ||
| Q2 25 | $360.9M | — | ||
| Q1 25 | $344.3M | — | ||
| Q4 24 | $358.9M | — | ||
| Q3 24 | $394.1M | — | ||
| Q2 24 | $383.0M | — | ||
| Q1 24 | $377.1M | — |
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.7B | $772.5M | ||
| Q4 24 | $1.7B | $772.9M | ||
| Q3 24 | $917.6M | $772.9M | ||
| Q2 24 | $926.2M | $789.6M | ||
| Q1 24 | $917.0M | $772.9M |
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.06× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $175.9M | $34.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 0.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | — | ||
| Q3 25 | $236.0M | — | ||
| Q2 25 | $157.9M | — | ||
| Q1 25 | $51.9M | $34.4M | ||
| Q4 24 | $340.7M | $66.2M | ||
| Q3 24 | $32.0M | $54.1M | ||
| Q2 24 | $36.7M | $56.6M | ||
| Q1 24 | $29.8M | $71.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 216.53× | — | ||
| Q2 25 | 8.22× | — | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | 1.55× | ||
| Q3 24 | 3.23× | 1.40× | ||
| Q2 24 | — | 1.23× | ||
| Q1 24 | — | 1.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
NRP
| Coal Royalty Revenues | $35.5M | 69% |
| Soda Ash Segment | $4.6M | 9% |
| Transportation And Processing Services | $4.4M | 9% |
| Production Lease Minimum Revenues | $2.7M | 5% |
| Oil And Gas Royalty Revenues | $2.4M | 5% |
| Other | $1.6M | 3% |
