Oil & Gas Exploration & Production
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CNX vs AR
Revenue, margins, valuation, and 5-year total return — side by side.
Oil & Gas Exploration & Production
CNX vs AR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Oil & Gas Exploration & Production | Oil & Gas Exploration & Production |
| Market Cap | $5.19B | $11.41B |
| Revenue (TTM) | $2.32B | $5.48B |
| Net Income (TTM) | $1.18B | $962M |
| Gross Margin | 28.7% | 26.0% |
| Operating Margin | 21.4% | 20.9% |
| Forward P/E | 12.6x | 8.4x |
| Total Debt | $2.45B | $5.14B |
| Cash & Equiv. | $779K | $210M |
CNX vs AR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| CNX Resources Corpo… (CNX) | 100 | 358.7 | +258.7% |
| Antero Resources Co… (AR) | 100 | 1232.1 | +1132.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CNX vs AR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
CNX carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 0 yrs, beta 0.12
- Rev growth 59.2%, EPS growth 7.6%, 3Y rev CAGR -18.3%
- 145.5% 10Y total return vs AR's 44.3%
AR is the clearest fit if your priority is value.
- Lower P/E (8.4x vs 12.6x)
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 59.2% revenue growth vs AR's 21.7% | |
| Value | Lower P/E (8.4x vs 12.6x) | |
| Quality / Margins | 50.9% margin vs AR's 17.5% | |
| Stability / Safety | Beta 0.12 vs AR's 0.24, lower leverage | |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | +16.3% vs AR's +3.8% | |
| Efficiency (ROA) | 17.5% ROA vs AR's 7.0%, ROIC 9.0% vs 5.2% |
CNX vs AR — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
CNX vs AR — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
CNX leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
AR is the larger business by revenue, generating $5.5B annually — 2.4x CNX's $2.3B. CNX is the more profitable business, keeping 50.9% of every revenue dollar as net income compared to AR's 17.5%. On growth, AR holds the edge at +33.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $2.3B | $5.5B |
| EBITDAEarnings before interest/tax | $1.1B | $1.9B |
| Net IncomeAfter-tax profit | $1.2B | $962M |
| Free Cash FlowCash after capex | $282M | -$1.0B |
| Gross MarginGross profit ÷ Revenue | +28.7% | +26.0% |
| Operating MarginEBIT ÷ Revenue | +21.4% | +20.9% |
| Net MarginNet income ÷ Revenue | +50.9% | +17.5% |
| FCF MarginFCF ÷ Revenue | +12.2% | -18.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +28.8% | +33.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +2.7% | +160.6% |
Valuation Metrics
Evenly matched — CNX and AR each lead in 3 of 6 comparable metrics.
Valuation Metrics
At 9.2x trailing earnings, CNX trades at a 49% valuation discount to AR's 18.1x P/E. On an enterprise value basis, CNX's 5.6x EV/EBITDA is more attractive than AR's 10.3x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $5.2B | $11.4B |
| Enterprise ValueMkt cap + debt − cash | $7.6B | $16.3B |
| Trailing P/EPrice ÷ TTM EPS | 9.18x | 18.15x |
| Forward P/EPrice ÷ next-FY EPS est. | 12.60x | 8.39x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 5.61x | 10.32x |
| Price / SalesMarket cap ÷ Revenue | 2.42x | 2.28x |
| Price / BookPrice ÷ Book value/share | 1.35x | 1.49x |
| Price / FCFMarket cap ÷ FCF | 9.72x | 9.18x |
Profitability & Efficiency
CNX leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
CNX delivers a 27.5% return on equity — every $100 of shareholder capital generates $27 in annual profit, vs $12 for AR. CNX carries lower financial leverage with a 0.57x debt-to-equity ratio, signaling a more conservative balance sheet compared to AR's 0.67x. On the Piotroski fundamental quality scale (0–9), AR scores 8/9 vs CNX's 6/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +27.5% | +12.4% |
| ROA (TTM)Return on assets | +17.5% | +7.0% |
| ROICReturn on invested capital | +9.0% | +5.2% |
| ROCEReturn on capital employed | +10.3% | +6.8% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 8 |
| Debt / EquityFinancial leverage | 0.57x | 0.67x |
| Net DebtTotal debt minus cash | $2.5B | $4.9B |
| Cash & Equiv.Liquid assets | $779,000 | $210M |
| Total DebtShort + long-term debt | $2.5B | $5.1B |
| Interest CoverageEBIT ÷ Interest expense | 7.11x | 14.47x |
Total Returns (Dividends Reinvested)
CNX leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in AR five years ago would be worth $35,153 today (with dividends reinvested), compared to $26,698 for CNX. Over the past 12 months, CNX leads with a +16.3% total return vs AR's +3.8%. The 3-year compound annual growth rate (CAGR) favors CNX at 33.7% vs AR's 20.8% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +0.2% | +7.7% |
| 1-Year ReturnPast 12 months | +16.3% | +3.8% |
| 3-Year ReturnCumulative with dividends | +138.7% | +76.2% |
| 5-Year ReturnCumulative with dividends | +167.0% | +251.5% |
| 10-Year ReturnCumulative with dividends | +145.5% | +44.3% |
| CAGR (3Y)Annualised 3-year return | +33.7% | +20.8% |
Risk & Volatility
CNX leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
CNX is the less volatile stock with a 0.12 beta — it tends to amplify market swings less than AR's 0.24 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CNX currently trades 83.8% from its 52-week high vs AR's 80.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.12x | 0.24x |
| 52-Week HighHighest price in past year | $43.62 | $45.75 |
| 52-Week LowLowest price in past year | $27.72 | $29.10 |
| % of 52W HighCurrent price vs 52-week peak | +83.8% | +80.5% |
| RSI (14)Momentum oscillator 0–100 | 42.7 | 52.1 |
| Avg Volume (50D)Average daily shares traded | 2.0M | 5.7M |
Analyst Outlook
AR leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates CNX as "Hold" and AR as "Buy". Consensus price targets imply 32.7% upside for AR (target: $49) vs -1.0% for CNX (target: $36).
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $36.17 | $48.89 |
| # AnalystsCovering analysts | 41 | 50 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +10.1% | +1.2% |
CNX leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). AR leads in 1 (Analyst Outlook). 1 tied.
CNX vs AR: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is CNX or AR a better buy right now?
For growth investors, CNX Resources Corporation (CNX) is the stronger pick with 59.
2% revenue growth year-over-year, versus 21. 7% for Antero Resources Corporation (AR). CNX Resources Corporation (CNX) offers the better valuation at 9. 2x trailing P/E (12. 6x forward), making it the more compelling value choice. Analysts rate Antero Resources Corporation (AR) a "Buy" — based on 50 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CNX or AR?
On trailing P/E, CNX Resources Corporation (CNX) is the cheapest at 9.
2x versus Antero Resources Corporation at 18. 1x. On forward P/E, Antero Resources Corporation is actually cheaper at 8. 4x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — CNX or AR?
Over the past 5 years, Antero Resources Corporation (AR) delivered a total return of +251.
5%, compared to +167. 0% for CNX Resources Corporation (CNX). Over 10 years, the gap is even starker: CNX returned +145. 5% versus AR's +44. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CNX or AR?
By beta (market sensitivity over 5 years), CNX Resources Corporation (CNX) is the lower-risk stock at 0.
12β versus Antero Resources Corporation's 0. 24β — meaning AR is approximately 101% more volatile than CNX relative to the S&P 500. On balance sheet safety, CNX Resources Corporation (CNX) carries a lower debt/equity ratio of 57% versus 67% for Antero Resources Corporation — giving it more financial flexibility in a downturn.
05Which is growing faster — CNX or AR?
By revenue growth (latest reported year), CNX Resources Corporation (CNX) is pulling ahead at 59.
2% versus 21. 7% for Antero Resources Corporation (AR). On earnings-per-share growth, the picture is similar: Antero Resources Corporation grew EPS 1028% year-over-year, compared to 763. 3% for CNX Resources Corporation. Over a 3-year CAGR, AR leads at -15. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — CNX or AR?
CNX Resources Corporation (CNX) is the more profitable company, earning 29.
6% net margin versus 12. 7% for Antero Resources Corporation — meaning it keeps 29. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CNX leads at 36. 8% versus 16. 5% for AR. At the gross margin level — before operating expenses — CNX leads at 47. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is CNX or AR more undervalued right now?
On forward earnings alone, Antero Resources Corporation (AR) trades at 8.
4x forward P/E versus 12. 6x for CNX Resources Corporation — 4. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AR: 32. 7% to $48. 89.
08Which pays a better dividend — CNX or AR?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is CNX or AR better for a retirement portfolio?
For long-horizon retirement investors, CNX Resources Corporation (CNX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
12), +145. 5% 10Y return). Both have compounded well over 10 years (CNX: +145. 5%, AR: +44. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between CNX and AR?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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