MACH NATURAL RESOURCES LP MNR

Energy SIC 1311 - Crude Petroleum & Natural Gas NYSE

Mach Natural Resources LP (either individually or together with its consolidated subsidiaries, as the context requires, the "Company" or "Mach") is an independent upstream oil and gas company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the 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.

Within our operating areas, our assets are prospective for multiple formations, most notably the Oswego, Woodford and Mississippian, Mancos and Fruitland formations. Our experience across these formations allows us to generate significant cash available for distribution from these low declining assets in a variety of commodity price environments. We also own an extensive portfolio of complementary midstream assets that are integrated with our upstream operations. These assets include gathering systems, processing plants and water infrastructure. Our midstream assets enhance the value of our properties by allowing us to optimize pricing, increase flow assurance and eliminate third-party costs and inefficiencies. In addition, our owned midstream systems generate third-party revenue.

Last close 12.57 2026-09-04
Market cap $2.10B 2026-06-30 share count
52-week range 10.46 - 15.02

Valuation FY2025 figures against the last close

P/S1.8x
P/E11.5x
P/FCF4.1x
EV/EBITDA6.0x
Dividend yield
Diluted EPS1.09

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Revenue $1.18B$969.6M$762.3M$937.4M$392.5M
Total operating expenses $930.4M$678.6M$403.2M$415.0M$237.1M
Operating income $244.9M$291.0M$359.1M$522.4M$155.4M
Interest expense $72.2M$104.6M$11.2M$4.9M$1.7M
Net income $143.0M$185.2M$68.5M$516.8M$138.4M
EPS, basic 1.091.900.72
EPS, diluted 1.091.900.72
Shares, diluted (wtd. avg.) $131.5M$97.7M$94.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Cash and equivalents $42.6M$105.8M$152.8M$29.4M$59.3M$60.1M
Inventory $43.5M$24.3M$31.4M$24.7M
Total current assets $378.0M$322.1M$343.6M$186.7M
Property, plant and equipment $194.8M$91.8M$89.7M$72.9M
Total assets $3.78B$2.34B$2.30B$887.9M
Short-term debt $0$82.5M$61.9M$0
Total current liabilities $359.9M$352.4M$274.9M$153.1M
Long-term debt $1.14B$668.8M$745.1M$84.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Operating cash flow $507.0M$505.3M$491.7M$553.5M$198.5M
Depreciation and amortisation $292.8M$271.0M$137.6M$88.6M$40.7M
Stock-based compensation $9.4M$6.5M$3.4M$7.5M$45.3M
Investing cash flow -$899.2M-$306.3M-$1.03B-$372.7M-$194.7M
Financing cash flow $329.1M-$246.0M$658.8M-$210.7M-$4.6M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-017249.

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