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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
As of Jun. 2026, Natural Resources Partners LP has a Sloan Ratio of -2.36%, indicating the company is in the safe zone and there is no funny business with accruals.
Natural Resources Partners LP (NYSE:NRP) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Jun. 2026, Natural Resources Partners LP has a Sloan Ratio of -2.36%, indicating the company is in the safe zone and there is no funny business with accruals.
Natural Resources Partners LP Sloan Ratio % Related Terms
Natural Resources Partners LP Sloan Ratio % 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 Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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 Sloan Ratio % vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Natural Resources Partners LP's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Natural Resources Partners LP's Sloan Ratio % falls into.
Natural Resources Partners LP Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Natural Resources Partners LP's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 30.905 (Sep. 2025 ) + 30.998 (Dec. 2025 ) + 19.619 (Mar. 2026 ) + 25.176 (Jun. 2026 ) = $106.7 Mil.
Natural Resources Partners LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 41.095 (Sep. 2025 ) + 44.765 (Dec. 2025 ) + 33.014 (Mar. 2026 ) + 40.95 (Jun. 2026 ) = $159.8 Mil.
Natural Resources Partners LP's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was 1.634 (Sep. 2025 ) + 0.743 (Dec. 2025 ) + -38.442 (Mar. 2026 ) + 0.819 (Jun. 2026 ) = $-35.2 Mil.
* 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 Sloan Ratio % of -2.36% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Natural Resources Partners LP and its competitors.
Is Natural Resources Partners LP's Sloan Ratio % too high?
Natural Resources Partners LP's current Sloan Ratio % is -2.36%. 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 Sloan Ratio % compare to NC and BTU?
Natural Resources Partners LP's Sloan Ratio % of -2.36% can be compared against companies in the Other Energy Sources industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for an Other Energy Sources company?
A good Sloan Ratio % depends on the Other Energy Sources industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Natural Resources Partners LP and its competitors. Natural Resources Partners LP's current Sloan Ratio % is -2.36%. 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 Sloan Ratio % is -2.36%. 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 Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Natural Resources Partners LP (NRP), the current Sloan Ratio % is -2.36% 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:
Sloan Ratio %: -2.36%
GF Value™: $84.85 vs. price of $102.86 (21.2% above fair value)
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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