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Side-by-side financial comparison of NACCO INDUSTRIES INC (NC) and NATURAL RESOURCE PARTNERS LP (NRP). Click either name above to swap in a different company.
NACCO INDUSTRIES INC is the larger business by last-quarter revenue ($66.8M vs $51.3M, roughly 1.3× NATURAL RESOURCE PARTNERS LP). NATURAL RESOURCE PARTNERS LP runs the higher net margin — 78.5% vs -5.8%, a 84.3% gap on every dollar of revenue. On growth, NACCO INDUSTRIES INC posted the faster year-over-year revenue change (-5.2% vs -21.8%). Over the past eight quarters, NACCO INDUSTRIES INC's revenue compounded faster (11.9% CAGR vs -8.3%).
NACCO Industries, Inc. is an American publicly traded holding company, headquartered in Cleveland, Ohio. Through a portfolio of mining and natural resources businesses, the company operates under three business segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining se...
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.
NC vs NRP — Head-to-Head
Income Statement — Q4 2025 vs Q1 2025
| Metric | | |
|---|---|---|
| Revenue | $66.8M | $51.3M |
| Net Profit | $-3.8M | $40.3M |
| Gross Margin | 18.0% | — |
| Operating Margin | 11.3% | 83.7% |
| Net Margin | -5.8% | 78.5% |
| Revenue YoY | -5.2% | -21.8% |
| Net Profit YoY | -150.8% | -28.4% |
| EPS (diluted) | $-0.53 | — |
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 | $66.8M | — | ||
| Q3 25 | $76.6M | — | ||
| Q2 25 | $68.2M | — | ||
| Q1 25 | $65.6M | $51.3M | ||
| Q4 24 | $70.4M | $61.8M | ||
| Q3 24 | $61.7M | $50.4M | ||
| Q2 24 | $52.3M | $54.6M | ||
| Q1 24 | $53.3M | $65.6M |
| Q4 25 | $-3.8M | — | ||
| Q3 25 | $13.3M | — | ||
| Q2 25 | $3.3M | — | ||
| Q1 25 | $4.9M | $40.3M | ||
| Q4 24 | $7.6M | $42.8M | ||
| Q3 24 | $15.6M | $38.6M | ||
| Q2 24 | $6.0M | $46.1M | ||
| Q1 24 | $4.6M | $56.2M |
| Q4 25 | 18.0% | — | ||
| Q3 25 | 13.0% | — | ||
| Q2 25 | 10.0% | — | ||
| Q1 25 | 14.7% | — | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | 13.2% | — |
| Q4 25 | 11.3% | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | -0.1% | — | ||
| Q1 25 | 11.7% | 83.7% | ||
| Q4 24 | 5.5% | 74.9% | ||
| Q3 24 | 31.9% | 84.9% | ||
| Q2 24 | 14.1% | 92.3% | ||
| Q1 24 | 8.9% | 91.0% |
| Q4 25 | -5.8% | — | ||
| Q3 25 | 17.3% | — | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 7.5% | 78.5% | ||
| Q4 24 | 10.7% | 69.2% | ||
| Q3 24 | 25.4% | 76.6% | ||
| Q2 24 | 11.4% | 84.4% | ||
| Q1 24 | 8.6% | 85.7% |
| Q4 25 | $-0.53 | — | ||
| Q3 25 | $1.78 | — | ||
| Q2 25 | $0.44 | — | ||
| Q1 25 | $0.66 | — | ||
| Q4 24 | $0.99 | — | ||
| Q3 24 | $2.14 | — | ||
| Q2 24 | $0.81 | — | ||
| Q1 24 | $0.61 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.7M | $30.9M |
| Total DebtLower is stronger | $100.8M | $138.8M |
| Stockholders' EquityBook value | $429.2M | — |
| Total Assets | $661.2M | $772.5M |
| Debt / EquityLower = less leverage | 0.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.7M | — | ||
| Q3 25 | $52.7M | — | ||
| Q2 25 | $49.4M | — | ||
| Q1 25 | $61.9M | $30.9M | ||
| Q4 24 | $72.8M | $30.4M | ||
| Q3 24 | $63.1M | $30.9M | ||
| Q2 24 | $62.4M | $32.3M | ||
| Q1 24 | $61.8M | $11.0M |
| Q4 25 | $100.8M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $138.8M | ||
| Q4 24 | $99.4M | $142.1M | ||
| Q3 24 | — | $197.4M | ||
| Q2 24 | $29.0M | $210.3M | ||
| Q1 24 | $28.4M | $188.8M |
| Q4 25 | $429.2M | — | ||
| Q3 25 | $426.4M | — | ||
| Q2 25 | $413.1M | — | ||
| Q1 25 | $409.1M | — | ||
| Q4 24 | $404.9M | — | ||
| Q3 24 | $397.3M | — | ||
| Q2 24 | $384.1M | — | ||
| Q1 24 | $381.6M | — |
| Q4 25 | $661.2M | — | ||
| Q3 25 | $637.6M | — | ||
| Q2 25 | $631.3M | — | ||
| Q1 25 | $634.2M | $772.5M | ||
| Q4 24 | $631.7M | $772.9M | ||
| Q3 24 | $597.4M | $772.9M | ||
| Q2 24 | $560.1M | $789.6M | ||
| Q1 24 | $538.0M | $772.9M |
| Q4 25 | 0.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.25× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.08× | — | ||
| Q1 24 | 0.07× | — |
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 | $11.4M | $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 | $11.4M | — | ||
| Q3 25 | $42.3M | — | ||
| Q2 25 | $-7.8M | — | ||
| Q1 25 | $5.0M | $34.4M | ||
| Q4 24 | $25.2M | $66.2M | ||
| Q3 24 | $2.8M | $54.1M | ||
| Q2 24 | $4.1M | $56.6M | ||
| Q1 24 | $-9.8M | $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 | 3.19× | — | ||
| Q2 25 | -2.39× | — | ||
| Q1 25 | 1.03× | 0.86× | ||
| Q4 24 | 3.33× | 1.55× | ||
| Q3 24 | 0.18× | 1.40× | ||
| Q2 24 | 0.68× | 1.23× | ||
| Q1 24 | -2.14× | 1.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NC
| Transferred Over Time | $42.7M | 64% |
| Transferred At Point In Time | $24.1M | 36% |
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% |
