Mach Natural Resources (MNR) Financials

$14.44 +0.12 (+0.83%)

Closing price 05/15/2026 03:59 PM Eastern

Extended Trading

$14.50 +0.06 (+0.41%)

As of 05/15/2026 07:57 PM Eastern

Annual Income Statements for Mach Natural Resources

This table shows Mach Natural Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	138	517	69	185	143
Consolidated Net Income / (Loss)	138	517	347	185	143
Net Income / (Loss) Continuing Operations	138	517	347	185	143
Total Pre-Tax Income	138	517	347	185	143
Total Operating Income	155	522	359	291	245
Total Gross Profit	324	684	556	648	734
Total Revenue	392	937	762	970	1,175
Total Cost of Revenue	69	253	206	321	442
Operating Cost of Revenue	69	253	206	321	442
Total Operating Expenses	168	162	197	357	489
Selling, General & Admin Expense	61	25	28	41	57
Marketing Expense	21	48	32	46	49
Depreciation Expense	3.15	4.52	6.47	9.02	12
Depletion Expense	38	84	131	262	280
Impairment Charge	-	-	0.00	0.00	90
Total Other Income / (Expense), net	-17	-5.54	-13	-106	-102
Interest Expense	1.66	4.85	11	105	91
Other Income / (Expense), net	-15	-0.69	-1.39	-1.22	-11
Basic Earnings per Share	$0.00	$0.00	$0.72	$1.90	$1.09
Weighted Average Basic Shares Outstanding	0.00	0.00	94.91M	97.59M	131.46M
Diluted Earnings per Share	$0.00	$0.00	$0.72	$1.90	$1.09
Weighted Average Diluted Shares Outstanding	0.00	0.00	94.91M	97.70M	131.54M
Weighted Average Basic & Diluted Shares Outstanding	-	-	95M	118.33M	168.22M
Cash Dividends to Common per Share	-	-	-	$3.20	$1.94

This table shows Mach Natural Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	83	94	42	40	67	37	16	90	-36	73	-35
Consolidated Net Income / (Loss)	83	94	42	40	67	37	16	90	-36	73	-35
Net Income / (Loss) Continuing Operations	83	94	42	40	67	37	16	90	-36	73	-35
Total Pre-Tax Income	83	94	42	40	67	37	16	90	-36	73	-35
Total Operating Income	84	102	67	70	95	59	52	111	-19	101	-9.71
Total Gross Profit	130	167	158	161	179	150	139	198	170	227	114
Total Revenue	175	228	239	240	256	235	227	289	273	388	286
Total Cost of Revenue	46	61	81	79	76	85	88	91	102	161	172
Operating Cost of Revenue	46	61	81	79	76	85	88	91	102	161	172
Total Operating Expenses	46	65	91	91	85	91	87	86	189	126	123
Selling, General & Admin Expense	5.36	12	10	11	9.39	9.71	11	8.80	23	14	8.75
Marketing Expense	7.66	8.70	13	11	9.78	12	13	10	10	15	17
Depreciation Expense	1.76	1.92	2.10	2.24	2.32	2.36	2.40	2.76	2.75	4.40	4.17
Depletion Expense	31	42	65	66	63	67	61	64	63	92	94
Total Other Income / (Expense), net	-0.26	-8.29	-26	-31	-27	-22	-36	-22	-16	-28	-25
Interest Expense	2.05	5.36	26	27	27	24	36	12	17	25	24
Other Income / (Expense), net	1.80	-2.94	0.74	-3.92	-0.52	2.48	0.65	-9.50	0.47	-2.82	-0.91
Basic Earnings per Share	$0.00	$0.72	$0.44	$0.42	$0.70	$0.34	$0.14	$0.76	($0.28)	$0.47	($0.21)
Weighted Average Basic Shares Outstanding	0.00	94.91M	95M	95.01M	96.86M	97.59M	112.13M	118.34M	126.46M	131.46M	168.32M
Diluted Earnings per Share	$0.00	$0.72	$0.44	$0.42	$0.70	$0.34	$0.14	$0.76	($0.28)	$0.47	($0.21)
Weighted Average Diluted Shares Outstanding	0.00	94.91M	95.01M	95.19M	97.03M	97.70M	112.20M	118.39M	126.46M	131.54M	168.32M
Weighted Average Basic & Diluted Shares Outstanding	-	95M	95M	95.04M	103.49M	118.33M	118.34M	118.34M	168.42M	168.22M	168.22M

This table details how cash moves in and out of Mach Natural Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.87	-30	-570	-417	-349
Net Cash From Operating Activities	198	554	492	505	507
Net Cash From Continuing Operating Activities	198	554	-201	135	221
Net Income / (Loss) Continuing Operations	138	517	0.00	0.00	0.00
Depreciation Expense	41	89	138	271	293
Amortization Expense	0.31	0.38	1.95	7.39	5.15
Non-Cash Adjustments To Reconcile Net Income	94	-20	-395	-142	-53
Changes in Operating Assets and Liabilities, net	-75	-32	54	-1.61	-23
Net Cash From Investing Activities	-195	-373	-1,027	-306	-899
Net Cash From Continuing Investing Activities	-195	-373	-1,027	-306	-899
Purchase of Property, Plant & Equipment	-158	-143	-767	-137	-642
Acquisitions	-38	-234	-302	-209	-262
Sale of Property, Plant & Equipment	0.09	0.23	0.04	0.94	0.50
Divestitures	0.60	4.00	42	39	4.24
Net Cash From Financing Activities	-4.58	-211	659	-246	329
Net Cash From Continuing Financing Activities	-4.58	-211	659	-246	329
Repayment of Debt	-31	-0.90	-241	-63	-1,200
Payment of Dividends	-146	-275	-101	-310	-244
Issuance of Debt	73	0.00	879	0.00	1,554
Issuance of Common Equity	101	65	188	129	221
Other Financing Activities, net	-1.90	0.00	-66	-1.62	-1.58

This table details how cash moves in and out of Mach Natural Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	9.89	94	-1.49	-6.68	40	-79	-98	5.99	40	-297	10
Net Cash From Operating Activities	107	110	144	117	111	134	143	130	106	129	170
Net Cash From Continuing Operating Activities	107	110	144	117	111	134	143	130	106	-157	170
Net Income / (Loss) Continuing Operations	83	94	42	40	67	37	16	90	-36	-70	-35
Consolidated Net Income / (Loss)	83	94	42	40	67	37	16	90	-36	-	-35
Depreciation Expense	33	44	67	68	66	70	64	67	66	97	98
Amortization Expense	0.03	1.72	1.27	2.23	2.03	1.87	1.42	0.95	1.07	1.71	1.68
Non-Cash Adjustments To Reconcile Net Income	3.14	-25	71	-8.50	-41	62	65	-55	78	-139	121
Changes in Operating Assets and Liabilities, net	-13	-4.17	-37	16	17	-37	-3.85	28	-3.78	-47	-16
Net Cash From Investing Activities	-90	-749	-55	-31	-94	-127	-78	-134	-596	-91	-61
Net Cash From Continuing Investing Activities	-90	-749	-55	-31	-94	-127	-78	-134	-596	-91	-61
Purchase of Property, Plant & Equipment	-24	-738	-5.43	-2.86	-48	-81	-30	-185	-597	171	-7.15
Acquisitions	-69	-51	-50	-67	-46	-47	-50	-	-	-	-55
Sale of Property, Plant & Equipment	-	-	0.14	0.36	0.07	0.38	0.05	0.16	0.12	0.16	0.03
Divestitures	3.31	39	0.45	39	-	0.13	2.63	0.05	0.83	0.74	1.45
Net Cash From Financing Activities	-6.85	734	-91	-93	23	-85	-162	10	530	-49	-99
Net Cash From Continuing Financing Activities	-6.85	734	-91	-93	23	-85	-162	10	530	-49	-99
Repayment of Debt	-	-241	-0.48	-21	-21	-21	-858	-56	-181	-106	-105
Payment of Dividends	-27	-	-90	-71	-86	-63	-59	-93	-45	-47	-89
Issuance of Debt	-	872	0.00	-	-	-	533	160	756	105	95
Issuance of Common Equity	-	168	0.00	-	-	-0.96	222	-0.49	-	-0.00	0.00
Other Financing Activities, net	-	-66	0.00	-	-	-1.05	-0.07	-0.02	-0.01	-1.49	-0.12

This table presents Mach Natural Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	888	2,305	2,338	3,777
Total Current Assets	187	344	322	378
Cash & Equivalents	29	153	106	43
Accounts Receivable	130	132	172	230
Inventories, net	25	31	24	44
Other Current Assets	2.46	27	20	61
Plant, Property, & Equipment, net	683	1,921	1,991	3,333
Plant, Property & Equipment, gross	832	2,203	2,535	4,248
Accumulated Depreciation	149	282	544	915
Total Noncurrent Assets	18	40	25	66
Other Noncurrent Operating Assets	18	40	25	66
Total Liabilities & Shareholders' Equity	888	2,305	2,338	3,777
Total Liabilities	888	1,113	1,139	1,788
Total Current Liabilities	153	275	352	360
Accounts Payable	20	47	54	70
Accrued Expenses	60	45	53	116
Current Deferred Revenue	52	110	151	168
Other Current Liabilities	21	11	12	6.91
Total Noncurrent Liabilities	735	838	787	1,428
Long-Term Debt	85	745	669	1,144
Asset Retirement Reserve & Litigation Obligation	52	85	102	262
Other Noncurrent Operating Liabilities	598	7.65	16	22
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.00	1,192	1,199	1,989
Total Preferred & Common Equity	0.00	1,192	1,199	1,989
Total Common Equity	0.00	1,192	1,199	1,989
Common Stock	0.00	1,192	1,199	1,989

This table presents Mach Natural Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,316	2,235	2,326	2,242	2,334	3,772	3,693
Total Current Assets	354	335	380	196	209	375	342
Cash & Equivalents	151	145	185	7.79	14	54	53
Accounts Receivable	157	146	133	157	147	213	229
Inventories, net	31	27	26	25	26	49	42
Other Current Assets	14	16	36	6.13	23	59	18
Plant, Property, & Equipment, net	1,937	1,878	1,912	2,005	2,076	3,328	3,300
Plant, Property & Equipment, gross	2,284	2,291	2,389	2,611	2,746	4,153	4,307
Accumulated Depreciation	347	413	477	606	671	824	1,007
Total Noncurrent Assets	25	22	33	41	49	69	51
Other Noncurrent Operating Assets	25	22	33	41	49	69	51
Total Liabilities & Shareholders' Equity	2,316	2,235	2,326	2,242	2,334	3,772	3,693
Total Liabilities	1,173	1,122	1,101	864	958	1,809	1,845
Total Current Liabilities	353	320	306	282	266	375	411
Accounts Payable	63	39	44	46	50	87	85
Accrued Expenses	46	53	50	52	64	121	107
Current Deferred Revenue	144	132	121	147	141	160	171
Other Current Liabilities	18	13	8.53	37	11	6.72	48
Total Noncurrent Liabilities	820	802	795	582	692	1,434	1,433
Long-Term Debt	726	707	688	460	565	1,144	1,135
Asset Retirement Reserve & Litigation Obligation	87	89	99	104	110	256	268
Other Noncurrent Operating Liabilities	6.90	6.59	8.24	18	17	33	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,144	1,113	1,225	1,378	1,376	1,964	1,849
Total Preferred & Common Equity	1,144	1,113	1,225	1,378	1,376	1,964	1,849
Total Common Equity	1,144	1,113	1,225	1,378	1,376	1,964	1,849
Common Stock	1,144	1,113	1,225	1,378	1,376	1,964	1,849

This table displays calculated financial ratios and metrics derived from Mach Natural Resources' official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	168,422,811.00
DEI Adjusted Shares Outstanding	-	-	-	-	168,422,811.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	0.85
Growth Metrics	-	-	-	-	-
Profitability Metrics	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	155	522	359	291	245
Return On Investment Capital (ROIC_SIMPLE)	-	615.29%	17.97%	14.92%	7.82%
Earnings before Interest and Taxes (EBIT)	140	522	358	290	234
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	181	611	497	568	532
Valuation Ratios	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	467	-1,431	292	-1,001
Efficiency Ratios	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	55	1,846	1,845	3,091
Increase / (Decrease) in Invested Capital	0.00	55	1,790	-1.40	1,246
Book Value per Share	$0.00	$0.00	$12.56	$11.59	$11.81
Tangible Book Value per Share	$0.00	$0.00	$12.56	$11.59	$11.81
Total Capital	0.00	85	1,999	1,950	3,133
Total Debt	0.00	85	807	751	1,144
Total Long-Term Debt	0.00	85	745	669	1,144
Net Debt	0.00	55	654	646	1,101
Capital Expenditures (CapEx)	158	143	767	136	641
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	4.18	-22	-54	-25
Debt-free Net Working Capital (DFNWC)	0.00	34	131	52	18
Net Working Capital (NWC)	0.00	34	69	-30	18
Net Nonoperating Expense (NNE)	17	5.54	13	106	102
Net Nonoperating Obligations (NNO)	0.00	55	654	646	1,101
Total Depreciation and Amortization (D&A)	41	89	140	278	298
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.72	$1.90	$1.09
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	94.91M	97.59M	131.46M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.72	$1.90	$1.09
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	94.91M	97.70M	131.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	95M	118.33M	168.22M
Normalized Net Operating Profit after Tax (NOPAT)	109	366	251	204	235
Debt Service Ratios	-	-	-	-	-
Payout Ratios	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Mach Natural Resources' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	168,422,811.00	168,218,770.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	168,422,811.00	168,218,770.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.43	-0.21
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	24.45%	43.78%	45.70%	3.12%	-5.18%	20.22%	6.66%	-	26.09%
EBITDA Growth	0.00%	0.00%	9.77%	24.60%	36.44%	-8.04%	-14.19%	24.11%	-70.39%	-	-23.94%
EBIT Growth	0.00%	0.00%	-27.29%	-16.57%	10.14%	-38.33%	-23.04%	52.94%	-119.89%	-	-120.30%
NOPAT Growth	0.00%	0.00%	-28.00%	-12.05%	13.12%	-42.54%	-23.16%	57.91%	-114.19%	-	-113.15%
Net Income Growth	0.00%	0.00%	-54.52%	-49.21%	-19.21%	-60.97%	-61.91%	126.90%	-152.86%	-	-320.56%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-52.78%	-68.18%	80.95%	-140.00%	-	-250.00%
Operating Cash Flow Growth	0.00%	0.00%	-2.17%	-8.72%	3.77%	21.76%	-1.00%	11.39%	-4.78%	-	19.50%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	101.24%	96.58%	26.72%	-	-5,236.82%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-0.08%	1.67%	9.61%	68.70%	-	60.08%
Revenue Q/Q Growth	5.07%	29.90%	0.00%	0.35%	6.48%	-8.06%	-3.48%	27.23%	-5.53%	-	-26.22%
EBITDA Q/Q Growth	7.99%	21.70%	0.00%	0.09%	18.25%	-17.97%	-11.61%	44.77%	-71.79%	-	-54.61%
EBIT Q/Q Growth	7.21%	15.65%	0.00%	-2.10%	41.55%	-35.24%	-14.24%	94.57%	-118.40%	-	-110.80%
NOPAT Q/Q Growth	4.50%	21.64%	0.00%	4.82%	34.41%	-38.22%	-11.72%	115.39%	-112.08%	-	-106.72%
Net Income Q/Q Growth	7.29%	12.08%	0.00%	-5.24%	70.68%	-45.86%	-56.50%	464.40%	-139.77%	-	-147.94%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-4.55%	66.67%	-51.43%	-58.82%	442.86%	-136.84%	-	-144.68%
Operating Cash Flow Q/Q Growth	-16.54%	2.76%	0.00%	-18.84%	-5.12%	20.58%	6.63%	-8.69%	-18.90%	-	32.28%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	2.64%	-1.67%	103.49%	-64.05%	-367.96%	-2,077.83%	-	3.36%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-2.36%	2.98%	1.89%	-0.76%	5.26%	58.49%	-	-5.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	74.01%	73.14%	65.98%	67.20%	70.24%	63.82%	61.25%	68.52%	62.46%	-	39.79%
EBITDA Margin	67.62%	63.36%	57.17%	57.02%	63.33%	56.50%	51.74%	58.87%	17.58%	-	31.21%
Operating Margin	47.75%	44.71%	28.12%	29.37%	37.07%	24.91%	22.79%	38.58%	-7.04%	-	-3.40%
EBIT Margin	48.77%	43.42%	28.43%	27.73%	36.87%	25.97%	23.07%	35.28%	-6.87%	-	-3.71%
Profit (Net Income) Margin	47.60%	41.07%	17.44%	16.47%	26.39%	15.54%	7.01%	31.08%	-13.08%	-	-12.25%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	-	100.00%
Interest Burden Percent	97.60%	94.58%	61.34%	59.37%	71.58%	59.85%	30.36%	88.07%	190.31%	-	329.89%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Return on Invested Capital (ROIC)	0.00%	18.46%	25.28%	29.48%	39.42%	13.09%	12.01%	21.06%	-2.07%	-	-1.23%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	17.20%	17.50%	19.88%	30.10%	9.70%	5.56%	17.44%	-4.72%	-	-4.91%
Return on Net Nonoperating Assets (RNNOA)	0.00%	9.44%	10.05%	11.51%	14.40%	5.28%	2.44%	8.38%	-2.48%	-	-2.34%
Return on Equity (ROE)	0.00%	27.90%	35.33%	41.00%	53.82%	18.37%	14.46%	29.44%	-4.56%	-	-3.57%
Cash Return on Invested Capital (CROIC)	0.00%	-77.54%	0.00%	0.00%	0.00%	15.85%	13.51%	7.99%	-42.82%	-	-38.49%
Operating Return on Assets (OROA)	0.00%	20.74%	9.93%	10.95%	30.51%	10.85%	9.69%	15.53%	-2.31%	-	-1.55%
Return on Assets (ROA)	0.00%	19.61%	6.09%	6.50%	21.84%	6.49%	2.94%	13.68%	-4.39%	-	-5.10%
Return on Common Equity (ROCE)	0.00%	27.90%	35.33%	41.00%	53.82%	18.37%	14.46%	29.44%	-4.56%	-	-3.57%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	25.93%	23.20%	19.78%	0.00%	11.56%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	84	102	67	70	95	59	52	111	-13	101	-6.80
NOPAT Margin	47.75%	44.71%	28.12%	29.37%	37.07%	24.91%	22.79%	38.58%	-4.93%	-	-2.38%
Net Nonoperating Expense Percent (NNEP)	0.00%	1.27%	7.78%	9.61%	9.32%	3.39%	6.45%	3.62%	2.65%	-	3.68%
Return On Investment Capital (ROIC_SIMPLE)	-	5.10%	-	-	-	3.00%	2.81%	5.73%	-0.43%	3.23%	-0.23%
Cost of Revenue to Revenue	25.99%	26.86%	34.02%	32.81%	29.76%	36.18%	38.75%	31.48%	37.54%	-	60.21%
SG&A Expenses to Revenue	3.06%	5.44%	4.32%	4.76%	3.67%	4.13%	4.79%	3.05%	8.46%	-	3.06%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	26.26%	28.43%	37.86%	37.83%	33.16%	38.90%	38.46%	29.94%	69.50%	-	43.19%
Earnings before Interest and Taxes (EBIT)	86	99	68	67	94	61	52	102	-19	98	-11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	119	144	137	137	162	133	117	170	48	197	89
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	1.02	1.60	1.63	1.27	1.36	1.27	1.24	0.85	-	1.27
Price to Tangible Book Value (P/TBV)	0.00	1.02	1.60	1.63	1.27	1.36	1.27	1.24	0.85	-	1.27
Price to Revenue (P/Rev)	0.00	1.60	2.27	2.05	1.61	1.68	1.82	1.70	1.63	-	1.91
Price to Earnings (P/E)	0.00	3.51	6.18	7.01	6.41	8.78	10.95	8.16	15.66	-	25.60
Dividend Yield	0.00%	0.00%	4.92%	8.94%	22.19%	24.95%	17.68%	19.32%	17.22%	-	14.07%
Earnings Yield	0.00%	28.48%	16.17%	14.27%	15.60%	11.39%	9.13%	12.26%	6.38%	-	3.91%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.01	1.38	1.40	1.18	1.23	1.20	1.17	0.90	-	1.17
Enterprise Value to Revenue (EV/Rev)	0.00	2.45	3.08	2.78	2.22	2.34	2.30	2.25	2.70	-	2.79
Enterprise Value to EBITDA (EV/EBITDA)	0.00	3.76	4.89	4.58	3.69	4.00	4.00	3.89	5.89	-	6.83
Enterprise Value to EBIT (EV/EBIT)	0.00	5.23	7.50	7.70	6.52	7.84	8.01	7.31	14.04	-	20.13
Enterprise Value to NOPAT (EV/NOPAT)	0.00	5.21	7.48	7.59	6.40	7.80	7.98	7.15	13.63	-	18.73
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	3.81	5.10	5.14	4.44	4.49	4.36	4.37	5.39	-	6.43
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	7.77	8.96	15.36	0.00	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.68	0.71	0.71	0.63	0.63	0.33	0.41	0.58	-	0.61
Long-Term Debt to Equity	0.00	0.63	0.63	0.64	0.56	0.56	0.33	0.41	0.58	-	0.61
Financial Leverage	0.00	0.55	0.57	0.58	0.48	0.54	0.44	0.48	0.53	-	0.48
Leverage Ratio	0.00	2.68	2.03	2.01	1.90	1.94	1.81	1.84	1.91	-	1.84
Compound Leverage Factor	0.00	2.53	1.24	1.19	1.36	1.16	0.55	1.62	3.64	-	6.07
Debt to Total Capital	0.00%	40.38%	41.40%	41.49%	38.61%	38.52%	25.02%	29.11%	36.81%	-	38.03%
Short-Term Debt to Total Capital	0.00%	3.10%	4.23%	4.34%	4.14%	4.23%	0.00%	0.00%	0.00%	-	0.00%
Long-Term Debt to Total Capital	0.00%	37.28%	37.17%	37.16%	34.47%	34.29%	25.02%	29.11%	36.81%	-	38.03%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Common Equity to Total Capital	0.00%	59.62%	58.60%	58.51%	61.39%	61.48%	74.98%	70.89%	63.19%	-	61.97%
Debt to EBITDA	0.00	1.62	1.59	1.47	1.33	1.32	0.84	0.97	2.45	-	2.25
Net Debt to EBITDA	0.00	1.32	1.29	1.20	1.01	1.14	0.82	0.95	2.33	-	2.15
Long-Term Debt to EBITDA	0.00	1.50	1.42	1.32	1.19	1.18	0.84	0.97	2.45	-	2.25
Debt to NOPAT	0.00	2.25	2.43	2.44	2.30	2.58	1.67	1.79	5.65	-	6.18
Net Debt to NOPAT	0.00	1.82	1.97	1.99	1.75	2.22	1.64	1.74	5.39	-	5.89
Long-Term Debt to NOPAT	0.00	2.07	2.18	2.19	2.06	2.30	1.67	1.79	5.65	-	6.18
Altman Z-Score	0.00	1.16	1.38	1.47	1.43	1.34	1.67	1.62	0.81	-	1.07
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.25	1.00	1.05	1.24	0.91	0.69	0.79	1.00	-	0.83
Quick Ratio	0.00	1.04	0.87	0.91	1.04	0.79	0.58	0.60	0.71	-	0.69
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	-1,733	-1,687	-1,716	60	22	-58	-1,257	-1,145	-1,107
Operating Cash Flow to CapEx	440.05%	14.88%	2,722.26%	4,660.19%	230.82%	166.55%	470.03%	70.44%	17.69%	-	2,391.70%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-65.94	-62.39	-64.08	2.45	0.59	-4.75	-74.30	-	-45.32
Operating Cash Flow to Interest Expense	52.01	20.49	5.48	4.32	4.14	5.46	3.91	10.72	6.24	-	6.98
Operating Cash Flow Less CapEx to Interest Expense	40.19	-117.17	5.28	4.23	2.35	2.18	3.08	-4.50	-29.04	-	6.68
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.48	0.35	0.39	0.83	0.42	0.42	0.44	0.34	-	0.42
Accounts Receivable Turnover	0.00	5.81	5.15	6.02	0.00	6.38	6.10	6.86	5.90	-	6.40
Inventory Turnover	0.00	7.35	3.35	5.06	0.00	11.54	11.60	12.74	9.67	-	15.58
Fixed Asset Turnover	0.00	0.59	0.42	0.47	0.00	0.50	0.49	0.51	0.39	-	0.47
Accounts Payable Turnover	0.00	6.12	1.66	3.61	0.00	6.30	6.01	7.64	5.57	-	8.06
Days Sales Outstanding (DSO)	0.00	62.79	70.92	60.58	0.00	57.17	59.85	53.23	61.87	-	57.05
Days Inventory Outstanding (DIO)	0.00	49.68	108.95	72.07	0.00	31.64	31.47	28.65	37.73	-	23.43
Days Payable Outstanding (DPO)	0.00	59.61	220.01	101.22	0.00	57.89	60.78	47.78	65.53	-	45.31
Cash Conversion Cycle (CCC)	0.00	52.86	-40.14	31.44	0.00	30.92	30.54	34.10	34.07	-	35.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	1,846	1,800	1,758	1,810	1,845	1,831	1,927	3,054	3,091	2,930
Invested Capital Turnover	0.00	0.41	0.90	1.00	1.06	0.53	0.53	0.55	0.42	-	0.52
Increase / (Decrease) in Invested Capital	0.00	0.00	1,800	1,758	1,810	-1.40	30	169	1,244	1,246	1,100
Enterprise Value (EV)	190	1,871	2,490	2,455	2,138	2,271	2,197	2,261	2,757	-	3,438
Market Capitalization	190	1,217	1,834	1,810	1,553	1,625	1,745	1,710	1,667	-	2,356
Book Value per Share	$0.00	$12.56	$12.04	$11.72	$12.89	$11.59	$11.65	$11.63	$16.59	$11.81	$10.99
Tangible Book Value per Share	$0.00	$12.56	$12.04	$11.72	$12.89	$11.59	$11.65	$11.63	$16.59	$11.81	$10.99
Total Capital	0.00	1,999	1,952	1,903	1,995	1,950	1,838	1,941	3,108	3,133	2,983
Total Debt	0.00	807	808	789	770	751	460	565	1,144	1,144	1,135
Total Long-Term Debt	0.00	745	726	707	688	669	460	565	1,144	1,144	1,135
Net Debt	0.00	654	657	645	586	646	452	551	1,090	1,101	1,082
Capital Expenditures (CapEx)	24	738	5.29	2.51	48	80	30	185	597	-171	7.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-22	-68	-47	-28	-54	-94	-71	-54	-25	-122
Debt-free Net Working Capital (DFNWC)	0.00	131	83	98	157	52	-86	-57	0.02	18	-69
Net Working Capital (NWC)	0.00	69	0.97	15	74	-30	-86	-57	0.02	18	-69
Net Nonoperating Expense (NNE)	0.26	8.29	26	31	27	22	36	22	22	28	28
Net Nonoperating Obligations (NNO)	0.00	654	657	645	586	646	452	551	1,090	1,101	1,082
Total Depreciation and Amortization (D&A)	33	45	69	70	68	72	65	68	67	98	100
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-2.92%	-8.38%	-5.30%	-2.88%	-5.53%	-9.82%	-7.05%	-5.24%	-	-9.85%
Debt-free Net Working Capital to Revenue	0.00%	17.13%	10.31%	11.09%	16.29%	5.38%	-9.00%	-5.68%	0.00%	-	-5.59%
Net Working Capital to Revenue	0.00%	9.01%	0.12%	1.74%	7.72%	-3.13%	-9.00%	-5.68%	0.00%	-	-5.59%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.72	$0.44	$0.42	$0.70	$0.34	$0.14	$0.76	($0.28)	$0.47	($0.21)
Adjusted Weighted Average Basic Shares Outstanding	0.00	94.91M	95M	95.01M	96.86M	97.59M	112.13M	118.34M	126.46M	131.46M	168.32M
Adjusted Diluted Earnings per Share	$0.00	$0.72	$0.44	$0.42	$0.70	$0.34	$0.14	$0.76	($0.28)	$0.47	($0.21)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	94.91M	95.01M	95.19M	97.03M	97.70M	112.20M	118.39M	126.46M	131.54M	168.32M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	95M	95M	95.04M	103.49M	118.33M	118.34M	118.34M	168.42M	168.22M	168.22M
Normalized Net Operating Profit after Tax (NOPAT)	59	71	47	49	66	41	36	78	50	71	-6.80
Normalized NOPAT Margin	33.42%	31.30%	19.68%	20.56%	25.95%	17.44%	15.95%	27.00%	18.29%	-	-2.38%
Pre Tax Income Margin	47.60%	41.07%	17.44%	16.47%	26.39%	15.54%	7.01%	31.08%	-13.08%	-	-12.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	41.65	18.46	2.59	2.46	3.52	2.49	1.44	8.39	-1.11	-	-0.44
NOPAT to Interest Expense	40.77	19.01	2.56	2.61	3.54	2.39	1.42	9.17	-0.79	-	-0.28
EBIT Less CapEx to Interest Expense	29.83	-119.20	2.39	2.37	1.73	-0.79	0.60	-6.83	-36.38	-	-0.73
NOPAT Less CapEx to Interest Expense	28.95	-118.65	2.36	2.51	1.74	-0.89	0.59	-6.05	-36.07	-	-0.57
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	29.24%	44.71%	72.97%	102.03%	167.31%	174.93%	143.62%	244.65%	-	298.14%
Augmented Payout Ratio	0.00%	29.24%	44.71%	72.97%	102.03%	167.31%	174.93%	143.62%	244.65%	-	298.14%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Mach Natural Resources (NYSE:MNR) based on the quarterly data across the last four years, focusing on trends in revenue, profitability, cash flow, and the balance sheet.

Strong Q4 2025 revenue and earnings: Total Revenue in Q4 2025 was $387,543,000 with Net Income attributable to common shareholders of $73,091,000, up significantly from Q4 2024.
Significant year-over-year net income increase: Net income attributable to common shareholders rose to $73,091,000 in Q4 2025 from about $36,517,000 in Q4 2024.
Robust early-year cash generation in 2025: Net cash from continuing operating activities was strong in Q2 2025 ($130,141,000) and Q3 2025 ($105,547,000), signaling improving cash flow generation earlier in 2025.
Sizable financing inflows provided liquidity: Net cash from continuing financing activities around $530,251,000 in Q3 2025 and similar levels in Q4 2025 helped support liquidity and capital deployment.
Solid equity base relative to liabilities: As of Q3 2025, total equity was around $1.963B against total liabilities of about $1.809B, indicating a strong balance-sheet cushion.
Ongoing capex supports capacity expansion: Capital expenditures remain elevated, with PP&E purchases of roughly $596.9M in Q3 2025 and $170.6M in Q4 2025, indicating continued asset build-out.
Depletion expense remains high: Depletion expense was substantial in 2025, including a notable amount in Q4 2025, reflecting production activity and reserve drawdown.
Moderate gross margin pressure: Q4 2025 gross margin was about 58.4% (226.71M gross profit on 387.54M revenue), slightly lower than Q4 2024’s margin of around 63.8%.
Near-term cash flow headwinds in Q4 2025: Net cash from continuing operating activities turned negative in Q4 2025 (-$157.2M), despite positive net income, driven by large non-cash adjustments.
Leverage remains meaningful: Long-term debt stood around $1.14B in 2025, signaling ongoing leverage requirements alongside the sizable asset base.

05/17/26 01:35 PM ETAI Generated. May Contain Errors.

Mach Natural Resources Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Mach Natural Resources' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Mach Natural Resources' net income appears to be on a downward trend, with a most recent value of $142.98 million in 2025, rising from $138.37 million in 2021. The previous period was $185.18 million in 2024. Check out Mach Natural Resources' forecast to explore projected trends and price targets.

Mach Natural Resources' total operating income in 2025 was $244.95 million, based on the following breakdown:

Total Gross Profit: $733.54 million
Total Operating Expenses: $488.59 million

Over the last 4 years, Mach Natural Resources' total revenue changed from $392.50 million in 2021 to $1.18 billion in 2025, a change of 199.5%.

Mach Natural Resources' total liabilities were at $1.79 billion at the end of 2025, a 56.9% increase from 2024, and a 101.4% increase since 2022.

In the past 3 years, Mach Natural Resources' cash and equivalents has ranged from $29.42 million in 2022 to $152.79 million in 2023, and is currently $42.63 million as of their latest financial filing in 2025.

Over the last 4 years, Mach Natural Resources' book value per share changed from 0.00 in 2021 to 11.81 in 2025, a change of 1,181.2%.

Related Companies

Financial statements for NYSE:MNR last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Mach Natural Resources (MNR) Financials

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Mach Natural Resources (MNR) Financials

Annual Income Statements for Mach Natural Resources

Quarterly Income Statements for Mach Natural Resources

Annual Cash Flow Statements for Mach Natural Resources

Quarterly Cash Flow Statements for Mach Natural Resources

Annual Balance Sheets for Mach Natural Resources

Quarterly Balance Sheets for Mach Natural Resources

Annual Metrics And Ratios for Mach Natural Resources

Quarterly Metrics And Ratios for Mach Natural Resources

Financials Breakdown Chart

Key Financial Trends

Mach Natural Resources Financials - Frequently Asked Questions

When does Mach Natural Resources' financial year end?

How has Mach Natural Resources' net income changed over the last 4 years?

What is Mach Natural Resources' operating income?

How has Mach Natural Resources' revenue changed over the last 4 years?

How much debt does Mach Natural Resources have?

How much cash does Mach Natural Resources have?

How has Mach Natural Resources' book value per share changed over the last 4 years?

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