Filing Flows › Mach Natural Resources LP (MNR) › Q4 2025
Mach Natural Resources LP (MNR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 12, 2026
Mach Natural Resources LP (MNR) reported revenue of $388M for the fourth quarter 2025 (Q4 2025), +65% from a year earlier and +42% from the quarter before. Operating margin was 26.1%, net earnings $73.1M (18.9% of revenue).
Mach Natural Resources LP, Q4 2025: revenue $388M (+65% year over year), operating margin 26.1%, net earnings $73.1M, operating cash flow $129M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $388M | +42% | +65% |
| Operating profit | $101M | — | +73% |
| Net earnings | $73.1M | — | +100% |
| Operating cash flow | $129M | +22% | -4% |
What changed
Revenue was $387.5M in Q4 2025, up 65% year over year and up 42% from the previous quarter. Natural gas was the largest line at 38% of revenue.
Operating profit was $101.2M, a 26.1% margin (up 1.2 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 25% margin then. Total costs grew 62% against revenue growth of 65%. Net earnings were $73.1M, up 100% year over year. The effective tax rate was 0.0%.
Operating cash flow was $128.7M (down 4% year over year), 176% of net earnings. Non-cash charges added back $96.5M of depreciation and amortization and $3.0M of share-based compensation. Working capital and other items used $43.9M.
Questions
What was Mach Natural Resources LP's revenue in the fourth quarter 2025?
Mach Natural Resources LP (MNR) reported revenue of $388M for the fourth quarter 2025 (Q4 2025), +65% from a year earlier and +42% from the quarter before.
Was Mach Natural Resources LP profitable in the fourth quarter 2025?
Operating profit was $101M (26.1% of revenue) and net earnings $73.1M.