Mineral Rights was Natural Resource Partners’s largest segment in fiscal 2025, bringing in $204.22M of $207.28M (99%).
| Segment | FY 2013 | FY 2014 | FY 2015 | FY 2017 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Mineral Rights | $329.17M | $296.61M | $249.87M | $204.22M | |||||
| Coal Royalty & Other | — | — | — | — | |||||
| Coal, Hard Mineral Royalty & Other | — | — | — | — | |||||
| Construction Aggregates | — | — | — | — | |||||
| Ventacore | — | — | — | — | |||||
| Soda Ash | $59.80M | $73.40M | $18.14M | $3.06M | |||||
| Oil & Gas | — | — | — | — | |||||
| Total | $388.96M | $370.01M | $268.01M | $207.28M |
Natural Resource Partners brought in $207.28M from its two segments in fiscal 2025, the year ended December 31, 2025. That was down 22.7% from $268.01M in fiscal 2024. Mineral Rights was the largest at $204.22M (98.5%), ahead of Soda Ash at $3.06M (1.5%).
From fiscal 2022 to 2025, combined revenue from these segments fell from $388.96M to $207.28M, a compound annual decline of 18.9%. Mineral Rights' share of the total rose from 84.6% to 98.5%.
Nrp & Its Restricted Subsidiaries was Natural Resource Partners’s largest revenue line in fiscal 2013, bringing in $343.73M of $358.12M (96%).
| Legal Entity | FY 2013 |
|---|---|
| Nrp & Its Restricted Subsidiaries | $343.73M |
| Unrestricted Subsidiaries Of Nrp | $14.39M |
| Total | $358.12M |
Natural Resource Partners brought in $358.12M from its two revenue lines in fiscal 2013, the year ended December 31, 2013. Nrp & Its Restricted Subsidiaries was the largest at $343.73M (96.0%), ahead of Unrestricted Subsidiaries Of Nrp at $14.39M (4.0%).
Natural Resource Partners (NRP) reports its revenue by segment and by legal entity. In fiscal 2025, Mineral Rights was its largest segment, bringing in $204.22M (98.5% of the total), followed by Soda Ash at $3.06M (1.5%).
Mineral Rights was Natural Resource Partners' largest segment in fiscal 2025, bringing in $204.22M, or 98.5% of the $207.28M total across its two segments.
Nrp & Its Restricted Subsidiaries was Natural Resource Partners' largest revenue line in fiscal 2013, bringing in $343.73M, or 96.0% of the $358.12M total across its two revenue lines.
Every figure comes from Natural Resource Partners' annual financial filings, as reported. Each line keeps the name Natural Resource Partners gives it, and years follow its fiscal calendar.
Natural Resource Partners' revenue by segment goes back to fiscal 2013, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.