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NACCO INDUSTRIES INC（NC）与NATURAL RESOURCE PARTNERS LP（NRP）财务数据对比。点击上方公司名可切换其他公司
NACCO INDUSTRIES INC的季度营收约是NATURAL RESOURCE PARTNERS LP的1.3倍（$66.8M vs $51.3M）。NATURAL RESOURCE PARTNERS LP净利率更高（78.5% vs -5.8%，领先84.3%）。NACCO INDUSTRIES INC同比增速更快（-5.2% vs -21.8%）。过去两年NACCO INDUSTRIES INC的营收复合增速更高（11.9% vs -8.3%）
纳科工业是一家总部位于美国俄亥俄州克利夫兰的上市控股公司，核心业务聚焦采矿与自然资源领域，旗下划分煤炭开采、北美采矿、矿产管理三大业务板块。其中煤炭开采板块采用服务型商业模式，依据长期合约为发电企业及活性炭生产商运营露天煤矿。
Natural Resource Partners LP是总部位于美国的业主有限合伙企业，主要持有、管理及出租矿产储备权益，资产涵盖煤炭、集料、工业矿物与油气资源，业务主要布局于北美地区，核心收入来自第三方资源开采企业支付的特许权使用费。
NC vs NRP — 直观对比
营收规模更大
NC
是对方的1.3倍
$51.3M
营收增速更快
NC
高出16.7%
-21.8%
净利率更高
NRP
高出84.3%
-5.8%
两年增速更快
NC
近两年复合增速
-8.3%
损益表 — Q4 2025 vs Q1 2025
| 指标 | | |
|---|---|---|
| 营收 | $66.8M | $51.3M |
| 净利润 | $-3.8M | $40.3M |
| 毛利率 | 18.0% | — |
| 营业利润率 | 11.3% | 83.7% |
| 净利率 | -5.8% | 78.5% |
| 营收同比 | -5.2% | -21.8% |
| 净利润同比 | -150.8% | -28.4% |
| 每股收益（稀释后） | $-0.53 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收NCNRP
| 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 |
净利润NCNRP
| 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 |
毛利率NCNRP
| 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% | — |
营业利润率NCNRP
| 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% |
净利率NCNRP
| 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% |
每股收益（稀释后）NCNRP
| 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 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $49.7M | $30.9M |
| 总债务越低越好 | $100.8M | $138.8M |
| 股东权益账面价值 | $429.2M | — |
| 总资产 | $661.2M | $772.5M |
| 负债/权益比越低杠杆越低 | 0.23× | — |
8季度趋势，按日历期对齐
现金及短期投资NCNRP
| 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 |
总债务NCNRP
| 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 |
股东权益NCNRP
| 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 | — |
总资产NCNRP
| 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 |
负债/权益比NCNRP
| Q4 25 | 0.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.25× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.08× | — | ||
| Q1 24 | 0.07× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $11.4M | $34.4M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 0.86× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流NCNRP
| 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 |
资本支出强度NCNRP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
现金转化率NCNRP
| 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× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
