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What is Natural Resources Partners LP Graham Number?
Natural Resources Partners LPNRP -1.04%63 Graham Number is $92.08 as of Jun. 2026, which is 16952% above its 10-year median of 0.54. GuruFocus rates NRP with a GF Score™ of 63/100 and a GF Value™ of $84.85 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 88 Other Energy Sources companies, Natural Resources Partners LP ranks better than 52.27% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
The historical rank and industry rank for Natural Resources Partners LP's Graham Number or its related term are showing as below:
NRP'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.16 Med: 0.54 Max: 1.28
Current: 1.12
During the past 13 years, the highest Price to Graham Number ratio of Natural Resources Partners LP was 1.28. The lowest was 0.16. And the median was 0.54.
NRP's Price-to-Graham-Number is ranked better than 52.27% of 88
companies
in the Other Energy Sources industry
Industry Median: 1.165
vs NRP: 1.12
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Natural Resources Partners LP (NYSE:NRP) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Natural Resources Partners LP's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
102.86
/
92.08
=
1.12
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Natural Resources Partners LP Graham Number Related Terms
Natural Resources Partners LP Graham Number Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Thermal Coal subindustry, Natural Resources Partners LP's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Natural Resources Partners LP Price-to-Graham-Number vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Natural Resources Partners LP's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Natural Resources Partners LP's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Natural Resources Partners LP (NRP) has a Graham Number of $92.08 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Natural Resources Partners LP and its competitors. This is 16952% above median its historical median of 0.54. Over the past decade, Natural Resources Partners LP's Graham Number has ranged from 0.16 to 1.28. According to the industry distribution chart, Natural Resources Partners LP ranks #42 out of 88 companies in the Other Energy Sources industry, placing it in the top 47.7%.
Is Natural Resources Partners LP's Graham Number too high?
Natural Resources Partners LP's current Graham Number of $92.08 is 16952% above median its 10-year median of 0.54. Over the past 10 years, this metric has ranged from a low of 0.16 to a high of 1.28. The Other Energy Sources industry median Graham Number is 1.17. Natural Resources Partners LP's value of $92.08 is 7803.9% above this industry median. Based on the distribution chart, Natural Resources Partners LP ranks #42 out of 88 companies in the Other Energy Sources industry, which is above the industry midpoint. Overall, Natural Resources Partners LP has a GF Score™ of 63/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Natural Resources Partners LP's Graham Number compare to NC and BTU?
According to the Other Energy Sources industry distribution chart, Natural Resources Partners LP ranks #42 out of 88 companies for Graham Number. This puts Natural Resources Partners LP in the upper half of its industry. The industry median Graham Number is 1.17. Natural Resources Partners LP's value of $92.08 is 7803.9% above this benchmark. Historically, Natural Resources Partners LP's own Graham Number has ranged from 0.16 to 1.28 over the past decade. While the company's 10-year median is 0.54 vs. the industry median of 1.17, Natural Resources Partners LP has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for an Other Energy Sources company?
The median Graham Number among Other Energy Sources companies is 1.17, based on 88 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Natural Resources Partners LP's current Graham Number of $92.08 is 7803.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Natural Resources Partners LP and its competitors. For the Other Energy Sources industry, the median Graham Number is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Natural Resources Partners LP's current Graham Number is $92.08, which is 16952% above median its own 10-year median of 0.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Natural Resources Partners LP stock overvalued right now?
Based on GuruFocus' analysis, Natural Resources Partners LP (NRP) is currently considered Modestly Overvalued. The stock's GF Value™ is $84.85, compared to a current price of $102.86 — trading 21.2% above its estimated fair value. The current Graham Number is $92.08, which is 16952% above median its 10-year median of 0.54 and 7803.9% above the Other Energy Sources industry median of 1.17. Natural Resources Partners LP's overall GF Score™ is 63/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Natural Resources Partners LP (NRP), the current Graham Number is $92.08 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Natural Resources Partners LP (NRP) Overvalued in 2026?
Based on GuruFocus' analysis, Natural Resources Partners LP stock appears to be overvalued.
The current stock price of $102.86 is trading 21.2% above its estimated GF Value™ of $84.85.
GuruFocus considers Natural Resources Partners LP to be Modestly Overvalued.
Key valuation signals for NRP:
Graham Number: $92.08 (16952% above median its 10-year median of 0.54)
GF Value™: $84.85 vs. price of $102.86 (21.2% above fair value)
Industry Position: 7803.9% above the Other Energy Sources median (#42 of 88)
No single metric tells the full story. See the NRP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Natural Resources Partners LP is a diversified natural resource company. It is engaged in the business of owning, managing and leasing a diversified portfolio of mineral properties in the United States, including interests in coal, trona and soda ash, crude oil and natural gas, construction aggregates, frac sand, and other natural resources. The company leases coal reserves to experience mine operators under long-term leases that grant the operator the right to mine its coal reserves in exchange for royalty payments. The company operates in two reportable segments namely: Mineral Rights and Soda Ash. The majority of the revenue is generated from the Mineral Rights segment. Geographically, the company's business activity of the group functions through the United States.
63GF Score
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