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Side-by-side financial comparison of NATURAL RESOURCE PARTNERS LP (NRP) and UNITY BANCORP INC (UNTY). 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 $35.3M, roughly 1.5× UNITY BANCORP INC). NATURAL RESOURCE PARTNERS LP runs the higher net margin — 78.5% vs 43.9%, a 34.7% gap on every dollar of revenue. On growth, UNITY BANCORP INC posted the faster year-over-year revenue change (24.2% vs -21.8%). Over the past eight quarters, UNITY BANCORP INC's revenue compounded faster (17.5% 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.
Unity Bancorp Inc is a New Jersey-headquartered financial holding company operating Unity Bank. It offers a full range of commercial and retail banking services including business loans, deposit products, mortgage services, and personal banking solutions, primarily serving small and medium-sized enterprises and individual consumers across local communities in New Jersey and eastern Pennsylvania.
NRP vs UNTY — Head-to-Head
Income Statement — Q1 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $51.3M | $35.3M |
| Net Profit | $40.3M | $15.5M |
| Gross Margin | — | — |
| Operating Margin | 83.7% | 55.8% |
| Net Margin | 78.5% | 43.9% |
| Revenue YoY | -21.8% | 24.2% |
| Net Profit YoY | -28.4% | 34.5% |
| EPS (diluted) | — | $1.52 |
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 | — | $35.3M | ||
| Q3 25 | — | $32.8M | ||
| Q2 25 | — | $34.4M | ||
| Q1 25 | $51.3M | $29.4M | ||
| Q4 24 | $61.8M | $28.4M | ||
| Q3 24 | $50.4M | $27.7M | ||
| Q2 24 | $54.6M | $25.5M | ||
| Q1 24 | $65.6M | $25.6M |
| Q4 25 | — | $15.5M | ||
| Q3 25 | — | $14.4M | ||
| Q2 25 | — | $16.5M | ||
| Q1 25 | $40.3M | $11.6M | ||
| Q4 24 | $42.8M | $11.5M | ||
| Q3 24 | $38.6M | $10.9M | ||
| Q2 24 | $46.1M | $9.5M | ||
| Q1 24 | $56.2M | $9.6M |
| Q4 25 | — | 55.8% | ||
| Q3 25 | — | 57.5% | ||
| Q2 25 | — | 62.6% | ||
| Q1 25 | 83.7% | 52.6% | ||
| Q4 24 | 74.9% | 51.0% | ||
| Q3 24 | 84.9% | 52.7% | ||
| Q2 24 | 92.3% | 49.3% | ||
| Q1 24 | 91.0% | 50.0% |
| Q4 25 | — | 43.9% | ||
| Q3 25 | — | 43.8% | ||
| Q2 25 | — | 48.0% | ||
| Q1 25 | 78.5% | 39.5% | ||
| Q4 24 | 69.2% | 40.5% | ||
| Q3 24 | 76.6% | 39.4% | ||
| Q2 24 | 84.4% | 37.1% | ||
| Q1 24 | 85.7% | 37.5% |
| Q4 25 | — | $1.52 | ||
| Q3 25 | — | $1.41 | ||
| Q2 25 | — | $1.61 | ||
| Q1 25 | — | $1.13 | ||
| Q4 24 | — | $1.13 | ||
| Q3 24 | — | $1.07 | ||
| Q2 24 | — | $0.92 | ||
| Q1 24 | — | $0.94 |
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 | — |
| Total DebtLower is stronger | $138.8M | — |
| Stockholders' EquityBook value | — | $345.6M |
| Total Assets | $772.5M | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $30.9M | — | ||
| Q4 24 | $30.4M | — | ||
| Q3 24 | $30.9M | — | ||
| Q2 24 | $32.3M | — | ||
| Q1 24 | $11.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $138.8M | — | ||
| Q4 24 | $142.1M | $230.8M | ||
| Q3 24 | $197.4M | — | ||
| Q2 24 | $210.3M | — | ||
| Q1 24 | $188.8M | — |
| Q4 25 | — | $345.6M | ||
| Q3 25 | — | $334.0M | ||
| Q2 25 | — | $319.8M | ||
| Q1 25 | — | $306.1M | ||
| Q4 24 | — | $295.6M | ||
| Q3 24 | — | $284.3M | ||
| Q2 24 | — | $273.4M | ||
| Q1 24 | — | $266.8M |
| Q4 25 | — | $3.0B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | $772.5M | $2.8B | ||
| Q4 24 | $772.9M | $2.7B | ||
| Q3 24 | $772.9M | $2.6B | ||
| Q2 24 | $789.6M | $2.6B | ||
| Q1 24 | $772.9M | $2.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.78× | ||
| 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 | $34.4M | $44.9M |
| Free Cash FlowOCF − Capex | — | $44.3M |
| FCF MarginFCF / Revenue | — | 125.7% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 0.86× | 2.90× |
| TTM Free Cash FlowTrailing 4 quarters | — | $81.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $44.9M | ||
| Q3 25 | — | $45.5M | ||
| Q2 25 | — | $-25.3M | ||
| Q1 25 | $34.4M | $17.9M | ||
| Q4 24 | $66.2M | $48.0M | ||
| Q3 24 | $54.1M | $17.7M | ||
| Q2 24 | $56.6M | $-8.4M | ||
| Q1 24 | $71.5M | $15.8M |
| Q4 25 | — | $44.3M | ||
| Q3 25 | — | $45.3M | ||
| Q2 25 | — | $-25.5M | ||
| Q1 25 | — | $17.6M | ||
| Q4 24 | — | $47.3M | ||
| Q3 24 | — | $17.5M | ||
| Q2 24 | — | $-8.6M | ||
| Q1 24 | — | $15.7M |
| Q4 25 | — | 125.7% | ||
| Q3 25 | — | 138.1% | ||
| Q2 25 | — | -74.2% | ||
| Q1 25 | — | 59.9% | ||
| Q4 24 | — | 166.5% | ||
| Q3 24 | — | 63.3% | ||
| Q2 24 | — | -33.7% | ||
| Q1 24 | — | 61.4% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 0.0% | 2.4% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.5% | ||
| Q1 24 | 0.0% | 0.3% |
| Q4 25 | — | 2.90× | ||
| Q3 25 | — | 3.16× | ||
| Q2 25 | — | -1.54× | ||
| Q1 25 | 0.86× | 1.54× | ||
| Q4 24 | 1.55× | 4.17× | ||
| Q3 24 | 1.40× | 1.62× | ||
| Q2 24 | 1.23× | -0.89× | ||
| Q1 24 | 1.27× | 1.64× |
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% |
UNTY
Segment breakdown not available.
