North European Oil Royalty Trust
North European Oil Royalty Trust is a grantor trust that holds overriding royalty rights tied to oil, gas, sulfur, and related production from certain concessions and leases in the Federal Republic of Germany. Its core function is to collect royalty income from operating companies and distribute the net proceeds to unit holders through a passive trust structure. The Trust’s assets are linked to established production arrangements, including royalty interests connected to German exploration and development operations. North European Oil Royalty Trust serves a narrow but distinct role in the energy market by providing exposure to royalty-based cash flows rather than direct operating activity. It is organized and administered from Keene, New Hampshire, and focuses exclusively on managing and distributing income from its underlying mineral royalty interests.
$8.71
-$0.07 (-0.80%)
EOD Oct 23, 2026
Margins and capital returns are both well above average: 90.71% operating margin, ROIC at 367.94%.
Revenue up 49.5% in the fiscal year ended Oct 2025 with margins expanding 4.6pp.
Even for strong businesses, today's 8.55x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
8.55x earnings, 275.47x FCF. A below-average multiple, which usually means the market expects earnings to fall. Check whether the filings support that.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$10M
▲ +49.5% YoY
Net Income (TTM)
$9M
▲ +57.0% YoY
Op. Margin
90.71%
▲ +4.6pp YoY
ROIC
367.94%
▲ +15.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$291K
▲ +280.6% YoY
Op. Cash Flow (TTM)
$291K
▲ +280.6% YoY
Net Debt
-$5M
Net Cash Position
Cash & Equiv.
$5M
3Y CAGR: -21.4%
3Y CAGR: -18.3%
Continue Research
Is North European Oil Royalty Trust (NRT) overvalued?
At a P/E of 8.5 and a price-to-free-cash-flow of 275.5, North European Oil Royalty Trust (NRT) trades above a two-stage DCF intrinsic value of about $1.07 per share, so at $8.71 the stock looks overvalued (87.7% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, North European Oil Royalty Trust scores 44/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 11.4%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is North European Oil Royalty Trust's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $1.07 per share for NRT, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $0.80. At today's $8.71, that puts the stock about 87.7% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is North European Oil Royalty Trust a high-quality business?+
North European Oil Royalty Trust scores 44 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 90.7% operating margin and a 367.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does North European Oil Royalty Trust (NRT) pay a dividend, and how much?+
Yes, North European Oil Royalty Trust pays a regular dividend of about $0.99 per share per year (typically in quarterly installments), a yield of roughly 11.4% at the current price. That is a payout ratio of about 96.9% of earnings, so the dividend is stretched at this level. North European Oil Royalty Trust has grown the dividend at roughly 10.4% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For NRT's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is North European Oil Royalty Trust a good stock to buy right now?+
That depends on valuation and quality together, not either alone. NRT currently trades above its estimated intrinsic value and scores 44/100 on quality (mixed). It also yields about 11.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Oil & Gas E&P
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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