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Side-by-side financial comparison of NATURAL RESOURCE PARTNERS LP (NRP) and PETMED EXPRESS INC (PETS). 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 $40.7M, roughly 1.3× PETMED EXPRESS INC). NATURAL RESOURCE PARTNERS LP runs the higher net margin — 78.5% vs -26.0%, a 104.5% gap on every dollar of revenue. On growth, NATURAL RESOURCE PARTNERS LP posted the faster year-over-year revenue change (-21.8% vs -23.3%). Over the past eight quarters, NATURAL RESOURCE PARTNERS LP's revenue compounded faster (-8.3% CAGR vs -20.9%).
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.
PetMed Express, Inc., also known as PetMeds, is an online pet pharmacy based in the United States. It is publicly traded and sells prescription and non-prescription pet medication.
NRP vs PETS — Head-to-Head
Income Statement — Q1 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $51.3M | $40.7M |
| Net Profit | $40.3M | $-10.6M |
| Gross Margin | — | 23.3% |
| Operating Margin | 83.7% | -25.7% |
| Net Margin | 78.5% | -26.0% |
| Revenue YoY | -21.8% | -23.3% |
| Net Profit YoY | -28.4% | -1392.6% |
| EPS (diluted) | — | $-0.50 |
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 | — | $40.7M | ||
| Q3 25 | — | $44.4M | ||
| Q2 25 | — | $51.2M | ||
| Q1 25 | $51.3M | $50.8M | ||
| Q4 24 | $61.8M | $52.0M | ||
| Q3 24 | $50.4M | $58.0M | ||
| Q2 24 | $54.6M | $66.2M | ||
| Q1 24 | $65.6M | $65.1M |
| Q4 25 | — | $-10.6M | ||
| Q3 25 | — | $-8.5M | ||
| Q2 25 | — | $-34.2M | ||
| Q1 25 | $40.3M | $-11.6M | ||
| Q4 24 | $42.8M | $-707.0K | ||
| Q3 24 | $38.6M | $2.3M | ||
| Q2 24 | $46.1M | $3.8M | ||
| Q1 24 | $56.2M | $-5.0M |
| Q4 25 | — | 23.3% | ||
| Q3 25 | — | 28.0% | ||
| Q2 25 | — | 28.1% | ||
| Q1 25 | — | 29.9% | ||
| Q4 24 | — | 31.0% | ||
| Q3 24 | — | 32.3% | ||
| Q2 24 | — | 28.8% | ||
| Q1 24 | — | 29.3% |
| Q4 25 | — | -25.7% | ||
| Q3 25 | — | -18.9% | ||
| Q2 25 | — | -66.7% | ||
| Q1 25 | 83.7% | -11.9% | ||
| Q4 24 | 74.9% | -0.9% | ||
| Q3 24 | 84.9% | 1.0% | ||
| Q2 24 | 92.3% | 6.6% | ||
| Q1 24 | 91.0% | -5.9% |
| Q4 25 | — | -26.0% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | -66.7% | ||
| Q1 25 | 78.5% | -22.9% | ||
| Q4 24 | 69.2% | -1.4% | ||
| Q3 24 | 76.6% | 4.0% | ||
| Q2 24 | 84.4% | 5.7% | ||
| Q1 24 | 85.7% | -7.7% |
| Q4 25 | — | $-0.50 | ||
| Q3 25 | — | $-0.41 | ||
| Q2 25 | — | $-1.65 | ||
| Q1 25 | — | $-0.56 | ||
| Q4 24 | — | $-0.03 | ||
| Q3 24 | — | $0.11 | ||
| Q2 24 | — | $0.18 | ||
| Q1 24 | — | $-0.24 |
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 | $26.9M |
| Total DebtLower is stronger | $138.8M | — |
| Stockholders' EquityBook value | — | $32.8M |
| Total Assets | $772.5M | $88.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $26.9M | ||
| Q3 25 | — | $36.1M | ||
| Q2 25 | — | $41.1M | ||
| Q1 25 | $30.9M | $54.7M | ||
| Q4 24 | $30.4M | $50.1M | ||
| Q3 24 | $30.9M | $52.0M | ||
| Q2 24 | $32.3M | $46.0M | ||
| Q1 24 | $11.0M | $55.3M |
| 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 | — | $32.8M | ||
| Q3 25 | — | $43.1M | ||
| Q2 25 | — | $51.5M | ||
| Q1 25 | — | $85.1M | ||
| Q4 24 | — | $96.2M | ||
| Q3 24 | — | $96.4M | ||
| Q2 24 | — | $93.5M | ||
| Q1 24 | — | $96.7M |
| Q4 25 | — | $88.0M | ||
| Q3 25 | — | $100.3M | ||
| Q2 25 | — | $109.8M | ||
| Q1 25 | $772.5M | $148.7M | ||
| Q4 24 | $772.9M | $144.8M | ||
| Q3 24 | $772.9M | $146.0M | ||
| Q2 24 | $789.6M | $152.7M | ||
| Q1 24 | $772.9M | $169.9M |
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 | $-9.2M |
| Free Cash FlowOCF − Capex | — | $-9.2M |
| FCF MarginFCF / Revenue | — | -22.7% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 0.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-23.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-9.2M | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-12.3M | ||
| Q1 25 | $34.4M | $7.0M | ||
| Q4 24 | $66.2M | $-1.2M | ||
| Q3 24 | $54.1M | $7.4M | ||
| Q2 24 | $56.6M | $-8.5M | ||
| Q1 24 | $71.5M | $7.1M |
| Q4 25 | — | $-9.2M | ||
| Q3 25 | — | $-4.8M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | — | $4.6M | ||
| Q4 24 | — | $-1.9M | ||
| Q3 24 | — | $6.1M | ||
| Q2 24 | — | $-9.2M | ||
| Q1 24 | — | $5.9M |
| Q4 25 | — | -22.7% | ||
| Q3 25 | — | -10.8% | ||
| Q2 25 | — | -26.5% | ||
| Q1 25 | — | 9.1% | ||
| Q4 24 | — | -3.7% | ||
| Q3 24 | — | 10.6% | ||
| Q2 24 | — | -13.9% | ||
| Q1 24 | — | 9.0% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | 0.0% | 1.5% | ||
| Q3 24 | 0.0% | 2.2% | ||
| Q2 24 | 0.0% | 1.0% | ||
| Q1 24 | 0.0% | 1.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.55× | — | ||
| Q3 24 | 1.40× | 3.18× | ||
| Q2 24 | 1.23× | -2.27× | ||
| Q1 24 | 1.27× | — |
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% |
PETS
| Reorder | $34.0M | 84% |
| New Order | $5.0M | 12% |
| Membership Fees | $1.6M | 4% |
