Mach Natural Resources LP (MNR) Stock Analysis
Energy · Oil & Gas E&P · NYSE
Mach Natural Resources LP (MNR) posted $1.18B in revenue for fiscal 2025 (up 21.2% year over year), at a 24.3% net margin, and has compounded revenue about 31.5%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Mach Natural Resources LP
Mach Natural Resources LP has grown revenue from $392.50M to $1.18B over the last 5 fiscal years, compounding about 31.5% a year. The most recent year was up 21.2%, so growth has cooled from its longer-run pace.
Net margin sits at 24.3%, down 13.9 points year over year on a 33.4% gross margin. It carries about $1.14B of total debt.
At today's valuation the market is pricing in roughly -2.6% annual free-cash-flow growth. The one thing worth a second look in the filings is inventory building faster than sales.
Synthesised from Mach Natural Resources LP's SEC filings — descriptive, not advice. Ask the analyst your own question →
Mach Natural Resources LP revenue & earnings — last 5 fiscal years
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $392.50M | $937.41M | $762.31M | $969.63M | $1.18B |
| Gross profit | — | $547.84M | $386.80M | $331.83M | $392.02M |
| Net income | $138.37M | $516.84M | $415.08M | $370.36M | $285.97M |
| Net margin | 35.3% | 55.1% | 54.4% | 38.2% | 24.3% |
Source: Mach Natural Resources LP SEC filings (10-K).
Mach Natural Resources LP: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Inventory building faster than salesInventory rose 79.1% versus revenue 21.2% — possible overproduction or softening demand.
- Share count rising (dilution)Shares outstanding grew 77.1% over 3 years (95M → 168.2M) — existing holders' stakes are being diluted.
- Net margin shrinkingNet margin fell from 55.1% to 24.3% over ~3 years — profitability is compressing.
What growth is priced into MNR stock?
At today's market cap of $2.24B, Mach Natural Resources LP is priced for free-cash-flow growth of about -2.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $236.41M from the FY ending 2025-12-31). This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 5 years of Mach Natural Resources LP financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Mach Natural Resources LP financial history by metric
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About Mach Natural Resources LP
Mach Natural Resources LP, an independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids (NGL) reserves. The company owns a portfolio of midstream assets, as well as owns gathering systems, processing plants. and water infrastructure. It also operates proved developed producing (PDP) wells. The company has operations in Anadarko Basin region of Western Oklahoma, Southern Kansas and the panhandle of Texas; the San Juan Basin region of New Mexico and Colorado; and the Permian Basin region of West Texas. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.
Mach Natural Resources LP — frequently asked questions
What is Mach Natural Resources LP's revenue?
Mach Natural Resources LP (MNR) reported revenue of $1.18B for fiscal year 2025, up 21.2% from the prior year, according to its SEC filings.
Is Mach Natural Resources LP profitable?
Yes. MNR earned net income of $285.97M in fiscal 2025, a net margin of 24.3%.
What is MNR's P/E ratio?
Mach Natural Resources LP trades at a price-to-earnings ratio of about 18.2 based on the latest data in our nightly-refreshed cache.
How fast is Mach Natural Resources LP growing?
MNR's revenue grew at roughly 31.5% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Mach Natural Resources LP have?
As of fiscal year 2025, MNR carried roughly $1.14B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Mach Natural Resources LP's gross margin?
MNR's gross margin was 33.4% in fiscal 2025 — gross profit of $392.02M on revenue of $1.18B.
What is Mach Natural Resources LP's market cap?
Mach Natural Resources LP (MNR) has a market capitalization of about $2.24B, based on the latest data in our nightly-refreshed cache.
When does Mach Natural Resources LP's fiscal year end?
MNR's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into MNR stock?
At today's market cap of $2.24B, Mach Natural Resources LP is priced for free-cash-flow growth of about -2.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $236.41M from the FY ending 2025-12-31).
Where does this data come from?
All figures are computed from Mach Natural Resources LP's official SEC filings (10-K and 10-Q), covering 5 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.