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Side-by-side financial comparison of LXP Industrial Trust (LXP) and NATURAL RESOURCE PARTNERS LP (NRP). Click either name above to swap in a different company.
LXP Industrial Trust is the larger business by last-quarter revenue ($86.7M vs $51.3M, roughly 1.7× NATURAL RESOURCE PARTNERS LP). NATURAL RESOURCE PARTNERS LP runs the higher net margin — 78.5% vs 33.2%, a 45.4% gap on every dollar of revenue. On growth, LXP Industrial Trust posted the faster year-over-year revenue change (-14.0% vs -21.8%). Over the past eight quarters, LXP Industrial Trust's revenue compounded faster (0.3% CAGR vs -8.3%).
LXP Industrial Trust is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality industrial real estate assets, primarily distribution centers, logistics facilities, and light industrial properties across key markets in the United States. Its tenant base covers e-commerce, third-party logistics, and advanced manufacturing sectors, delivering stable long-term returns for its investors.
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.
LXP vs NRP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.7M | $51.3M |
| Net Profit | $28.8M | $40.3M |
| Gross Margin | 81.5% | — |
| Operating Margin | 34.6% | 83.7% |
| Net Margin | 33.2% | 78.5% |
| Revenue YoY | -14.0% | -21.8% |
| Net Profit YoY | — | -28.4% |
| EPS (diluted) | — | — |
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 | $86.7M | — | ||
| Q3 25 | $86.9M | — | ||
| Q2 25 | $87.7M | — | ||
| Q1 25 | $88.9M | $51.3M | ||
| Q4 24 | $100.9M | $61.8M | ||
| Q3 24 | $85.6M | $50.4M | ||
| Q2 24 | $85.8M | $54.6M | ||
| Q1 24 | $86.3M | $65.6M |
| Q4 25 | $28.8M | — | ||
| Q3 25 | $36.3M | — | ||
| Q2 25 | $29.1M | — | ||
| Q1 25 | $19.0M | $40.3M | ||
| Q4 24 | — | $42.8M | ||
| Q3 24 | $6.3M | $38.6M | ||
| Q2 24 | $5.4M | $46.1M | ||
| Q1 24 | $-269.0K | $56.2M |
| Q4 25 | 81.5% | — | ||
| Q3 25 | 82.3% | — | ||
| Q2 25 | 81.9% | — | ||
| Q1 25 | 80.7% | — | ||
| Q4 24 | 85.3% | — | ||
| Q3 24 | 82.5% | — | ||
| Q2 24 | 82.0% | — | ||
| Q1 24 | 82.4% | — |
| Q4 25 | 34.6% | — | ||
| Q3 25 | 50.4% | — | ||
| Q2 25 | 33.7% | — | ||
| Q1 25 | 21.8% | 83.7% | ||
| Q4 24 | — | 74.9% | ||
| Q3 24 | 7.9% | 84.9% | ||
| Q2 24 | 6.9% | 92.3% | ||
| Q1 24 | 1.0% | 91.0% |
| Q4 25 | 33.2% | — | ||
| Q3 25 | 41.7% | — | ||
| Q2 25 | 33.2% | — | ||
| Q1 25 | 21.4% | 78.5% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | 7.4% | 76.6% | ||
| Q2 24 | 6.3% | 84.4% | ||
| Q1 24 | -0.3% | 85.7% |
| Q4 25 | — | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $0.09 | — | ||
| Q1 25 | $0.06 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $0.02 | — | ||
| 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 | $170.4M | $30.9M |
| Total DebtLower is stronger | $1.4B | $138.8M |
| Stockholders' EquityBook value | $2.0B | — |
| Total Assets | $3.5B | $772.5M |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $170.4M | — | ||
| Q3 25 | $229.7M | — | ||
| Q2 25 | $71.0M | — | ||
| Q1 25 | $70.9M | $30.9M | ||
| Q4 24 | $101.8M | $30.4M | ||
| Q3 24 | $55.0M | $30.9M | ||
| Q2 24 | $48.7M | $32.3M | ||
| Q1 24 | $293.8M | $11.0M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | $138.8M | ||
| Q4 24 | $1.6B | $142.1M | ||
| Q3 24 | — | $197.4M | ||
| Q2 24 | — | $210.3M | ||
| Q1 24 | — | $188.8M |
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.1B | — | ||
| Q1 24 | $2.2B | — |
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.8B | $772.5M | ||
| Q4 24 | $3.8B | $772.9M | ||
| Q3 24 | $3.9B | $772.9M | ||
| Q2 24 | $3.9B | $789.6M | ||
| Q1 24 | $4.2B | $772.9M |
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 0.75× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $188.7M | $34.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 6.56× | 0.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $188.7M | — | ||
| Q3 25 | $63.5M | — | ||
| Q2 25 | $44.3M | — | ||
| Q1 25 | $39.0M | $34.4M | ||
| Q4 24 | $211.2M | $66.2M | ||
| Q3 24 | $64.6M | $54.1M | ||
| Q2 24 | $38.5M | $56.6M | ||
| Q1 24 | $38.9M | $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 | 6.56× | — | ||
| Q3 25 | 1.75× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 2.05× | 0.86× | ||
| Q4 24 | — | 1.55× | ||
| Q3 24 | 10.18× | 1.40× | ||
| Q2 24 | 7.09× | 1.23× | ||
| Q1 24 | — | 1.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LXP
Segment breakdown not available.
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% |
