NRT

MKT CAP:$77M

North European Oil Royalty Trust

Market Cap

$77M

Energy·Oil & Gas Exploration & Production·🇺🇸 United States·NYSE

Energy·Oil & Gas Exploration & Production·🇺🇸·NYSE

Stock Price

$8.30+$1.22 (+17.23%)

Apr 24, 2026

Company Details

North European Oil Royalty Trust, a grantor trust, holds overriding royalty rights covering gas and oil production in various concessions or leases in the Federal Republic of Germany. The company has rights under contracts with German explo...

CEO

Nancy J. Floyd Prue

IPO Date

Mar 17, 1980

Website

www.neort.com

Key Metrics TTM

Revenue

$6M

+18.6% YoY

Net Income

$5M

EPS (Diluted)

$0.59

Free Cash Flow

$6M

Revenue / Share

$0.66

Gross Margin

100.0%

Operating Margin

90.9%

Net Margin

88.3%

FCF Margin

101.3%

P/S

12.6x

P/E

14.2x

Earnings Reports

FY 2025

Dec 31, 2025

$9M+49.5%EPS $0.86

Q2 2025

May 30, 2025

$2M+10.7%EPS $0.25

Q1 2025

Feb 28, 2025

$505.7K+19.0%EPS $0.03

FY 2024

Dec 31, 2024

$6M-73.7%EPS $0.55

Q4 2024

Dec 31, 2024

$670.2K+116454.9%EPS $0.06

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$1M	$1M	$1M
Q4 21	$1M	$1M	$1M
Q1 22	$3M	$3M	$3M
Q2 22	$4M	$4M	$4M
Q3 22	$4M	$4M	$4M
Q4 22	$7M	$7M	$7M
Q1 23	$10M	$10M	$10M
Q2 23	$10M	$10M	$9M
Q3 23	$2M	$2M	$2M
Q4 23	-$576	-$576	-$169.0K
Q1 24	$424.9K	$424.9K	$424.9K
Q2 24	$2M	$2M	$2M
Q3 24	$2M	$2M	$2M
Q4 24	$670.2K	$670.2K	$509.1K
Q1 25	$505.7K	$505.7K	$505.7K
Q2 25	$2M	$2M	$2M

Valuation

Quarter	P/S	P/E
Q3 21	21.8x	26.5x
Q4 21	16.7x	19.3x
Q1 22	11.2x	12.3x
Q2 22	8.3x	8.9x
Q3 22	6.3x	6.7x
Q4 22	4.3x	4.5x
Q1 23	3.1x	3.2x
Q2 23	2.5x	2.5x
Q3 23	2.6x	2.7x
Q4 23	3.5x	3.6x
Q1 24	6.0x	6.5x
Q2 24	14.9x	17.6x
Q3 24	15.0x	17.5x
Q4 24	13.2x	15.2x
Q1 25	13.1x	14.8x
Q2 25	12.6x	14.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$1M	$1M
Q4 21	$1M	$1M
Q1 22	$3M	$3M
Q2 22	$4M	$4M
Q3 22	$4M	$4M
Q4 22	$7M	$7M
Q1 23	$10M	$10M
Q2 23	$10M	$10M
Q3 23	$3M	$3M
Q4 23	$12.1K	$12.1K
Q1 24	$432.4K	$432.4K
Q2 24	$2M	$2M
Q3 24	$2M	$2M
Q4 24	$690.4K	$690.4K
Q1 25	$519.4K	$519.4K
Q2 25	$2M	$2M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+5.8%	—
Q4 21	+312.5%	—
Q1 22	+798.4%	—
Q2 22	+169.5%	—
Q3 22	+200.0%	+31.3%
Q4 22	+389.4%	—
Q1 23	+283.5%	—
Q2 23	+158.6%	—
Q3 23	-43.9%	+52.2%
Q4 23	-100.0%	+9.2%
Q1 24	-95.6%	—
Q2 24	-77.1%	-31.1%
Q3 24	-1.3%	-27.8%
Q4 24	+116454.9%	-4.4%
Q1 25	+19.0%	—
Q2 25	+10.7%	+6.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	—
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 24	$253.3K
Q2 24	$215.2K
Q3 24	$165.7K
Q4 24	$163.7K
Q1 25	$234.0K
Q2 25	$229.5K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$4M	$0	$4M
Q3 22	$5M	$0	$5M
Q4 22	$7M	$0	$7M
Q1 23	$10M	$0	$10M
Q2 23	$10M	$0	$10M
Q3 23	$3M	$0	$3M
Q4 23	$795.2K	$0	$795.2K
Q1 24	$974.3K	$0	$974.3K
Q2 24	$3M	$0	$3M
Q3 24	$3M	$0	$3M
Q4 24	$2M	$0	$2M
Q1 25	$2M	$0	$2M
Q2 25	$4M	$0	$4M
Q3 25	$4M	$0	$4M
Q4 25	$5M	$0	$5M
Q1 26	$4M	$0	$4M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	9M	0.0%	0.0%
Q4 21	9M	0.0%	0.0%
Q1 22	9M	0.0%	0.0%
Q2 22	9M	0.0%	0.0%
Q3 22	9M	0.0%	0.0%
Q4 22	9M	0.0%	0.0%
Q1 23	9M	0.0%	0.0%
Q2 23	9M	0.0%	0.0%
Q3 23	9M	0.0%	0.0%
Q4 23	9M	0.0%	0.0%
Q1 24	9M	0.0%	0.0%
Q2 24	9M	0.0%	0.0%
Q3 24	9M	+0.0%	+0.0%
Q4 24	9M	0.0%	+0.0%
Q1 25	9M	0.0%	+0.0%
Q2 25	9M	-0.0%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$493.6K	3
Q4 21	$479.3K	3
Q1 22	$848.8K	3
Q2 22	$1M	3
Q3 22	$1M	3
Q4 22	$2M	3
Q1 23	$3M	3
Q2 23	$3M	3
Q3 23	$830.3K	3
Q4 23	-$192	3
Q1 24	$141.6K	3
Q2 24	$744.3K	3
Q3 24	$819.1K	3
Q4 24	$223.4K	3
Q1 25	$168.6K	3
Q2 25	$823.8K	3

Revenue / Employee