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Side-by-side financial comparison of NATURAL RESOURCE PARTNERS LP (NRP) and Orchid Island Capital, Inc. (ORC). Click either name above to swap in a different company.
NATURAL RESOURCE PARTNERS LP is the larger business by last-quarter revenue ($51.3M vs $38.5M, roughly 1.3× Orchid Island Capital, Inc.). Orchid Island Capital, Inc. runs the higher net margin — 268.7% vs 78.5%, a 190.2% gap on every dollar of revenue. On growth, Orchid Island Capital, Inc. posted the faster year-over-year revenue change (372.6% vs -21.8%). Over the past eight quarters, Orchid Island Capital, Inc.'s revenue compounded faster (301.6% CAGR vs -8.3%).
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.
Orchid Island Capital, Inc. is a U.S.-based specialty finance company operating as a real estate investment trust. It primarily invests in residential mortgage-backed securities, including agency and non-agency products, targeting consistent risk-adjusted returns for its investors across U.S. fixed income markets.
NRP vs ORC — Head-to-Head
Income Statement — Q1 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $51.3M | $38.5M |
| Net Profit | $40.3M | $103.4M |
| Gross Margin | — | — |
| Operating Margin | 83.7% | — |
| Net Margin | 78.5% | 268.7% |
| Revenue YoY | -21.8% | 372.6% |
| Net Profit YoY | -28.4% | 1764.9% |
| 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 | — | $38.5M | ||
| Q3 25 | — | $26.9M | ||
| Q2 25 | — | $23.2M | ||
| Q1 25 | $51.3M | $19.7M | ||
| Q4 24 | $61.8M | — | ||
| Q3 24 | $50.4M | $340.0K | ||
| Q2 24 | $54.6M | $-697.0K | ||
| Q1 24 | $65.6M | $-2.5M |
| Q4 25 | — | $103.4M | ||
| Q3 25 | — | $72.1M | ||
| Q2 25 | — | $-33.6M | ||
| Q1 25 | $40.3M | $17.1M | ||
| Q4 24 | $42.8M | — | ||
| Q3 24 | $38.6M | $17.3M | ||
| Q2 24 | $46.1M | $-5.0M | ||
| Q1 24 | $56.2M | $19.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 83.7% | — | ||
| Q4 24 | 74.9% | — | ||
| Q3 24 | 84.9% | — | ||
| Q2 24 | 92.3% | — | ||
| Q1 24 | 91.0% | — |
| Q4 25 | — | 268.7% | ||
| Q3 25 | — | 267.8% | ||
| Q2 25 | — | -145.0% | ||
| Q1 25 | 78.5% | 86.9% | ||
| Q4 24 | 69.2% | — | ||
| Q3 24 | 76.6% | 5094.1% | ||
| Q2 24 | 84.4% | 714.3% | ||
| Q1 24 | 85.7% | -794.2% |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $30.9M | $665.9M |
| Total DebtLower is stronger | $138.8M | — |
| Stockholders' EquityBook value | — | $1.4B |
| Total Assets | $772.5M | $11.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $665.9M | ||
| Q3 25 | — | $583.9M | ||
| Q2 25 | — | $440.8M | ||
| Q1 25 | $30.9M | $396.4M | ||
| Q4 24 | $30.4M | — | ||
| Q3 24 | $30.9M | $322.1M | ||
| Q2 24 | $32.3M | $241.0M | ||
| Q1 24 | $11.0M | $190.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $138.8M | — | ||
| Q4 24 | $142.1M | — | ||
| Q3 24 | $197.4M | — | ||
| Q2 24 | $210.3M | — | ||
| Q1 24 | $188.8M | — |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $912.0M | ||
| Q1 25 | — | $855.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $656.0M | ||
| Q2 24 | — | $555.9M | ||
| Q1 24 | — | $481.6M |
| Q4 25 | — | $11.7B | ||
| Q3 25 | — | $9.1B | ||
| Q2 25 | — | $7.6B | ||
| Q1 25 | $772.5M | $7.3B | ||
| Q4 24 | $772.9M | — | ||
| Q3 24 | $772.9M | $5.9B | ||
| Q2 24 | $789.6M | $4.9B | ||
| Q1 24 | $772.9M | $4.2B |
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 | $34.4M | $120.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.86× | 1.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $120.4M | ||
| Q3 25 | — | $28.0M | ||
| Q2 25 | — | $18.4M | ||
| Q1 25 | $34.4M | $25.8M | ||
| Q4 24 | $66.2M | — | ||
| Q3 24 | $54.1M | $-14.8M | ||
| Q2 24 | $56.6M | $19.3M | ||
| Q1 24 | $71.5M | $45.0M |
| 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 | — | 1.16× | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.86× | 1.51× | ||
| Q4 24 | 1.55× | — | ||
| Q3 24 | 1.40× | -0.86× | ||
| Q2 24 | 1.23× | — | ||
| Q1 24 | 1.27× | 2.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
ORC
Segment breakdown not available.
