MNR
Mach Natural Resources LP
MNR's fundamentals are mixed: revenue grew 37%, but its operating margin fell 2 points to 18%. At 10x earnings, it's trading below its usual 12x. Analysts expect earnings to hold roughly steady, though they disagree widely on how much.
MNR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Unavailable | |
| Healthy |
MNR's revenue, profitability and balance sheet are currently healthy. There isn't enough data to rate its cash flow.
MNR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 6.2x | $9.02 | — |
| Cheap | 7.2x | $6.45 | -29% |
| Current | 10x | $9.02 | — |
| Fair | 12x | $10.52 | +17% |
| Expensive | 18x | $16.57 | +84% |
Historical ranges are pointers, not guarantees.
MNR's PE is in its fair range at 10x. On analysts' estimates for next year's earnings, today's price would be 6.2x, in its cheap range.
MNR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect MNR's profitability to weaken, with its earnings and revenue holding steady. However, they disagree widely on these estimates.
MNR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.45 | +61% |
| Q3 2026 | $0.90 | -6.2% |
| Q2 2026 | $0.56 | -71% |
| Q1 2026 | $0.74 | -54% |
| Q4 2025 | $1.09 | -43% |
MNR's earnings per share have fallen from their peak: $0.90 over the past year, against $6.72 in late 2022.
MNR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $319.2M | +17% |
| Q2 2026 | $406M | +41% |
| Q1 2026 | $285.9M | +26% |
| Q4 2025 | $387.5M | +65% |
| Q3 2025 | $272.6M | +6.7% |
| Q2 2025 | $288.5M | +20% |
| Q1 2025 | $226.8M | -5.2% |
| Q4 2024 | $234.9M | +3.1% |
MNR's revenue is recovering but still below its 2022 peak: $319M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +19 points |
| Q2 2026 | 30% | -8.4 points |
| Q1 2026 | -3.4% | -26 points |
| Q4 2025 | 26% | +1.2 points |
| Q3 2025 | -7% | -44 points |
| Q2 2025 | 39% | +9.2 points |
| Q1 2025 | 23% | -5.3 points |
| Q4 2024 | 25% | -20 points |
MNR's operating margin was 11% last quarter, up 18 points from the same quarter a year ago.
MNR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $130.4M | +24% |
| Q2 2026 | $148.8M | +14% |
| Q1 2026 | $165.6M | +17% |
| Q3 2025 | $105.5M | -2.9% |
| Q2 2025 | $130.1M | +14% |
| Q1 2025 | $141.4M | +1.3% |
| Q4 2024 | $131.9M | +24% |
| Q2 2024 | $114.1M | +394% |
MNR's free cash flow has been positive every quarter since late 2022: $550M over the past year, up 7.4% from the year before.
MNR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +119K shares |
| 1 year | +42% | +49.8M shares |
| 3 years | +77% | +73.1M shares |
MNR has 168M diluted shares, up 42% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2023 | $15.5M |
| Q1 2023 | $59M |
| Q4 2022 | — |
| Q3 2022 | — |
MNR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.8x | Healthy |
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 2.3x | Moderate |
| Q2 2025 | 1.0x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.2x | Healthy |
MNR's net debt is about 1.8 years of its operating earnings (EBITDA), down from 2.3 years a year ago.
MNR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 26.6 | Oversold |
| Stochastic | 5.3 | Oversold |
MNR's weekly RSI is 27 (oversold) and its Stochastic is 5 (oversold).
MNR PE vs Energy Sector
| Metric | MNR | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 13x | 24% below |
| PE % | 43 | 55 | 12 pts below |
MNR is trading at 10x earnings, a 24% discount to the Energy sector's median of 13x.
MNR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.3 | 12% below |
| 20 week MA | $11.8 | 23% below |
| 50 week MA | $12.4 | 27% below |
| 100 week MA | $13.4 | 32% below |
MNR is in a downtrend: it's below all four of its weekly moving averages, and 32% below its 100-week average.
MNR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $18.8 | $16.5 | -12% |
| 2024 | $16.5 | $16.5 | -0.2% |
| 2025 | $16.5 | $11.2 | -32% |
| 2026 YTD | $11.2 | $9.02 | -19% |
MNR has finished every year since 2023 lower, and it's down 19% so far in 2026.