CNX Resources Corporation (CNX) 10-Year Financial Performance & Capital Metrics

CNX •

EnergyOil & Gas E&PU.S. natural gas shale producers

AboutCNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers. The company owns rights to extract natural gas in Pennsylvania, West Virginia, and Ohio from approximately 526,000 net Marcellus Shale acres; and approximately 610,000 net acres of Utica Shale, as well as rights to extract natural gas from other shale and shallow oil and gas positions from approximately 1,006,000 net acres in Illinois, Indiana, New York, Ohio, Pennsylvania, Virginia, and West Virginia. It also owns rights to extract coalbed methane (CBM) in Virginia from approximately 282,000 net CBM acres in Central Appalachia, as well as 1,733,000 net CBM acres in West Virginia, Pennsylvania, Ohio, Illinois, Indiana, and New Mexico. In addition, the company designs, builds, and operates natural gas gathering systems to move gas from the wellhead to interstate pipelines or other local sales points; owns and operates approximately 2,600 miles of natural gas gathering pipelines, as well as various natural gas processing facilities. It also offers turn-key solutions for water sourcing, delivery, and disposal for its natural gas operations and for third parties. The company was formerly known as CONSOL Energy Inc. and changed its name to CNX Resources Corporation in November 2017. CNX Resources Corporation was founded in 1860 and is headquartered in Canonsburg, Pennsylvania.Show more

Revenue $2.14B +59.2%
EBITDA $1.37B +20.2%
Net Income $633M +799.7%
EPS (Diluted) 3.98 +763.3%
Gross Margin 46.84% -21.8%
EBITDA Margin 63.87% -24.5%
Operating Margin 37.07% -23.6%
Net Margin 29.55% +539.5%
ROE 15.01% +801.7%
ROIC 9.05% +21.1%
Debt/Equity 0.57 +1.1%
Interest Coverage 4.66 +7.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 24.9% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 14.6%
✓Good 3Y average ROE of 20.0%
✓Healthy 5Y average net margin of 23.2%
✓Trading near 52-week high

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.05%

5Y14.56%

3Y-18.26%

TTM67.82%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM799.67%

EPS CAGR

10Y-

5Y-

3Y-

TTM644.3%

ROCE

10Y Avg13.72%

5Y Avg19.29%

3Y Avg9.78%

Latest10.34%

Peer Comparison

U.S. natural gas shale producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPSNEpsilon Energy Ltd.	112.94M	5.12	58.25	2.58%	12.86%	5.87%		0.00
ARAntero Resources Corporation	11.35B	36.81	18.13	28.09%	11.13%	7.29%	14.37%	0.46
EQTEQT Corporation	38.33B	61.42	16.16	65.53%	23.59%	7.45%	7.4%	0.29
BKVBKV Corporation	2.82B	31.33	16.07	48.16%	19.75%	8.35%		0.24
RRCRange Resources Corporation	9.78B	41.28	15.07	32.75%	9.58%	15.24%	6.03%	0.29
EXEExpand Energy Corporation	25.7B	107.92	14.26	187.23%	15.01%	9.79%	7.15%
CNXCNX Resources Corporation	5.95B	41.78	10.50	59.19%	28.03%	14.6%	8.98%	0.57
INRInfinity Natural Resources, Inc.	751.12B	16.60	4.46	60.16%	-0.58%	-0.2%		0.51

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	847.91M	1.2B	1.76B	1.54B	1.09B	2.38B	3.92B	1.46B	1.35B	2.14B
Revenue Growth %	12.92%	41.33%	46.47%	-12.02%	-29.69%	119.56%	64.6%	-62.72%	-7.99%	59.19%
Cost of Goods Sold+	544.55M	553.66M	495.64M	514M	451.19M	517.72M	666.67M	549.14M	539.67M	1.14B
COGS % of Revenue	64.22%	46.2%	28.24%	33.28%	41.56%	21.72%	16.99%	37.54%	40.1%	53.16%
Gross Profit+	303.36M	644.71M	1.26B	1.03B	634.5M	1.87B	3.26B	913.53M	806.18M	1B
Gross Margin %	35.78%	53.8%	71.76%	66.72%	58.44%	78.28%	83.01%	62.46%	59.9%	46.84%
Gross Profit Growth %	24.08%	112.52%	95.38%	-18.21%	-38.41%	194.1%	74.54%	-71.95%	-11.75%	24.47%
Operating Expenses+	117.36M	141.28M	145.84M	187.93M	124.37M	133.38M	130M	132.79M	153.18M	209.21M
OpEx % of Revenue	13.84%	11.79%	8.31%	12.17%	11.46%	5.6%	3.31%	9.08%	11.38%	9.77%
Selling, General & Admin	117.36M	141.28M	145.84M	187.93M	124.37M	133.38M	130M	132.79M	153.18M	140.3M
SG&A % of Revenue	13.84%	11.79%	8.31%	12.17%	11.46%	5.6%	3.31%	9.08%	11.38%	6.55%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	68.91M
Operating Income+	186M	503.43M	1.11B	842.32M	510.13M	1.73B	3.13B	780.74M	653M	794.26M
Operating Margin %	21.94%	42.01%	63.45%	54.55%	46.99%	72.69%	79.7%	53.38%	48.52%	37.07%
Operating Income Growth %	52.33%	170.66%	121.25%	-24.38%	-39.44%	239.65%	80.47%	-75.03%	-16.36%	21.63%
EBITDA+	605.93M	1.05B	1.61B	1.8B	1.07B	2.25B	3.59B	1.21B	1.14B	1.37B
EBITDA Margin %	71.46%	87.9%	91.57%	116.41%	98.91%	94.3%	91.45%	83.02%	84.61%	63.87%
EBITDA Growth %	22.69%	73.83%	52.59%	11.85%	-40.27%	109.33%	59.63%	-66.16%	-6.22%	20.16%
D&A (Non-Cash Add-back)	419.94M	549.9M	493.42M	955.29M	563.67M	515.12M	461.21M	433.59M	485.75M	574.11M
EBIT	-469.72M	48.09M	517.76M	183.87M	33.97M	-483.86M	-61.84M	2.24B	3.75M	973.53M
Net Interest Income+	-195.19M	-161.44M	-145.93M	-151.38M	-170.81M	-151.16M	-127.69M	-143.28M	-150.59M	-170.59M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	195.19M	161.44M	145.93M	151.38M	170.81M	151.16M	127.69M	143.28M	150.59M	170.59M
Other Income/Expense	-771.34M	-384.84M	-15.14M	-782.63M	-1.11B	-2.37B	-3.34B	1.44B	-773.36M	8.68M
Pretax Income+	-585.35M	118.58M	1.1B	59.68M	-602.83M	-636.51M	-211.95M	2.22B	-120.36M	802.94M
Pretax Margin %	-69.03%	9.9%	62.59%	3.86%	-55.53%	-26.7%	-5.4%	151.98%	-8.94%	37.48%
Income Tax+	-34.4M	-176.46M	215.56M	27.74M	-174.09M	-137.87M	-69.87M	502.21M	-29.87M	169.78M
Effective Tax Rate %	144.89%	321.09%	72.5%	-135.26%	80.25%	78.34%	67.03%	77.41%	75.18%	78.86%
Net Income+	-848.1M	380.75M	796.53M	-80.73M	-483.77M	-498.64M	-142.08M	1.72B	-90.49M	633.16M
Net Margin %	-100.02%	31.77%	45.38%	-5.23%	-44.56%	-20.92%	-3.62%	117.64%	-6.72%	29.55%
Net Income Growth %	-126.23%	144.89%	109.2%	-110.14%	-499.25%	-3.07%	71.51%	1311.12%	-105.26%	799.67%
Net Income (Continuing)	-550.95M	295.04M	883.11M	31.95M	-428.74M	-498.64M	-142.08M	1.72B	-90.49M	633.16M
Discontinued Operations	-297.16M	85.71M	0	0	0	0	0	0	0	0
Minority Interest	142.49M	0	751.78M	801.76M	0	0	0	0	0	0
EPS (Diluted)+	-3.70	1.65	3.71	0.17	-2.15	-2.31	-0.75	8.99	-0.60	3.98
EPS Growth %	-125.61%	144.59%	124.85%	-95.42%	-1364.71%	-7.44%	67.53%	1298.67%	-106.67%	763.33%
EPS (Basic)	-3.70	1.66	3.75	0.17	-2.15	-2.31	-0.75	10.63	-0.60	4.48
Diluted Shares Outstanding	229.39M	230.95M	214.63M	190.73M	199.23M	215.97M	189.51M	192.01M	151.31M	160.35M
Basic Shares Outstanding	229.39M	228.84M	212.35M	190.73M	199.23M	215.97M	189.51M	162.49M	151.31M	141.45M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	626.14M	852.5M	501.69M	498.1M	273.33M	459.81M	573.8M	421.79M	370.63M	490.34M
Cash & Short-Term Investments	60.48M	509.17M	17.2M	16.28M	15.62M	3.56M	21.32M	443K	17.2M	779K
Cash Only	60.48M	509.17M	17.2M	16.28M	15.62M	3.56M	21.32M	443K	17.2M	779K
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	175.66M	237.25M	412.98M	209.58M	150.25M	339.12M	354.64M	133.99M	197.41M	325.91M
Days Sales Outstanding	75.62	72.26	85.88	49.54	50.51	51.93	32.99	33.44	53.54	55.52
Inventory	65.46M	10.74M	9.71M	6.98M	9.66M	6.15M	27.16M	19.85M	14.57M	26.2M
Days Inventory Outstanding	43.88	7.08	7.15	4.96	7.81	4.33	14.87	13.19	9.86	8.4
Other Current Assets	198.82M	0	40.24M	247.79M	85.39M	95M	154.47M	252.52M	125.8M	118.75M
Total Non-Current Assets+	8.56B	6.08B	8.09B	8.56B	7.77B	7.64B	7.94B	8.2B	8.14B	8.6B
Property, Plant & Equipment	8.14B	5.79B	6.94B	2.64B	7.13B	1.8B	7.27B	1.58B	7.48B	8.01B
Fixed Asset Turnover	0.10x	0.21x	0.25x	0.59x	0.15x	1.33x	0.54x	0.93x	0.18x	0.27x
Goodwill	0	0	796.36M	796.36M	323.31M	323.31M	323.31M	323.31M	323.31M	323.31M
Intangible Assets	0	0	103.2M	96.65M	90.09M	83.54M	76.99M	393.75M	63.88M	57.33M
Long-Term Investments	190.96M	197.92M	18.66M	330.81M	16.02M	131.99M	244.93M	280.53M	160.18M	134.4M
Other Non-Current Assets	222.15M	91.73M	-168.86M	4.7B	204.77M	5.3B	270.31M	5.95B	111.06M	75.4M
Total Assets+	9.18B	6.93B	8.59B	9.06B	8.04B	8.1B	8.52B	8.63B	8.51B	9.09B
Asset Turnover	0.09x	0.17x	0.20x	0.17x	0.14x	0.29x	0.46x	0.17x	0.16x	0.24x
Asset Growth %	-15.97%	-24.52%	23.95%	5.45%	-11.25%	0.73%	5.12%	1.3%	-1.33%	6.84%
Total Current Liabilities+	940.01M	441.68M	522.98M	528.94M	441.31M	954.58M	1.31B	823M	1.12B	1.12B
Accounts Payable	157.1M	211.16M	229.81M	202.55M	118.19M	121.75M	191.34M	147.36M	123.25M	158.81M
Days Payables Outstanding	105.3	139.21	169.23	143.84	95.61	85.84	104.76	97.95	83.36	50.89
Short-Term Debt	1.3M	7.11M	7M	68.83M	22.57M	23.5M	0	325.67M	327.77M	208.09M
Deferred Revenue (Current)	18.21M	11.56M	17.69M	13.96M	10.99M	18.98M	22.09M	15.83M	0	0
Other Current Liabilities	639.17M	184.79M	225.59M	207.19M	72.91M	752.33M	1.01B	260.9M	576.56M	752.37M
Current Ratio	0.67x	1.93x	0.96x	0.94x	0.62x	0.48x	0.44x	0.51x	0.33x	0.44x
Quick Ratio	0.60x	1.91x	0.94x	0.93x	0.60x	0.48x	0.42x	0.49x	0.32x	0.41x
Cash Conversion Cycle	14.19	-59.86	-76.2	-89.34	-37.28	-29.58	-56.9	-51.32	-19.97	13.03
Total Non-Current Liabilities+	4.3B	2.59B	2.99B	3.57B	3.18B	3.45B	4.25B	3.44B	3.29B	3.63B
Long-Term Debt	2.42B	2.19B	2.38B	2.75B	2.4B	2.21B	2.21B	1.89B	1.84B	2.21B
Capital Lease Obligations	27.26M	20.35M	13.3M	118.17M	54.29M	34.89M	134.07M	95.03M	70.56M	24.99M
Deferred Tax Liabilities	462.52M	44.37M	398.68M	476.11M	466.25M	328.6M	232.28M	729.45M	696.14M	857.37M
Other Non-Current Liabilities	1.85B	382.96M	595.95M	220.84M	256.04M	868.29M	1.68B	729.45M	686.37M	537.43M
Total Liabilities	5.24B	3.03B	3.51B	4.1B	3.62B	4.4B	5.57B	4.27B	4.41B	4.76B
Total Debt+	2.77B	2.21B	2.4B	2.94B	2.54B	2.27B	2.39B	2.37B	2.29B	2.45B
Net Debt	2.71B	1.71B	2.38B	2.93B	2.52B	2.27B	2.37B	2.36B	2.28B	2.45B
Debt / Equity	0.70x	0.57x	0.47x	0.59x	0.57x	0.61x	0.81x	0.54x	0.56x	0.57x
Debt / EBITDA	4.58x	2.10x	1.49x	1.64x	2.36x	1.01x	0.67x	1.95x	2.01x	1.79x
Net Debt / EBITDA	4.48x	1.62x	1.48x	1.63x	2.35x	1.01x	0.66x	1.95x	2.00x	1.79x
Interest Coverage	0.95x	3.12x	7.63x	5.56x	2.99x	11.46x	24.49x	5.45x	4.34x	4.66x
Total Equity+	3.94B	3.9B	5.08B	4.96B	4.42B	3.7B	2.95B	4.36B	4.1B	4.34B
Equity Growth %	-18.84%	-1.04%	30.3%	-2.35%	-10.88%	-16.33%	-20.26%	47.81%	-6.03%	5.83%
Book Value per Share	17.18	16.89	23.68	26.02	22.20	17.13	15.57	22.71	27.08	27.05
Total Shareholders' Equity	3.8B	3.9B	4.33B	4.16B	4.42B	3.7B	2.95B	4.36B	4.1B	4.34B
Common Stock	2.3M	2.24M	1.99M	1.87M	2.21M	2.04M	1.71M	1.55M	1.49M	1.43M
Retained Earnings	1.73B	1.46B	2.07B	1.97B	1.48B	877.89M	448.99M	1.98B	1.75B	1.98B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-392.56M	-8.48M	-7.9M	-12.61M	-15.18M	-14.52M	-6.51M	-7.3M	-5.71M	-5.68M
Minority Interest	142.49M	0	751.78M	801.76M	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	469.29M	648.69M	885.82M	980.56M	795.07M	926.36M	1.24B	814.59M	815.78M	1.03B
Operating CF Margin %	55.35%	54.13%	50.47%	63.5%	73.23%	38.86%	31.48%	55.69%	60.61%	48.03%
Operating CF Growth %	-7.23%	38.23%	36.56%	10.69%	-18.92%	16.51%	33.32%	-34.04%	0.15%	26.13%
Net Income	-535.97M	295.04M	883.11M	31.95M	-428.74M	-498.64M	-142.08M	1.72B	-90.49M	633.16M
Depreciation & Amortization	598.5M	412.04M	493.42M	508.46M	501.82M	515.12M	461.21M	0	485.75M	574.11M
Stock-Based Compensation	31.48M	16.98M	21.34M	38.42M	14.38M	16.56M	16.38M	20.23M	20.09M	0
Deferred Taxes	120.31M	-142.83M	345.56M	79.09M	-118.3M	-137.89M	-76.06M	497.43M	-33.87M	161.21M
Other Non-Cash Items	374.68M	-75.5M	-744.42M	122.25M	826.75M	1.1B	946.33M	-1.54B	476.46M	-300.27M
Working Capital Changes	-119.72M	142.96M	-113.19M	200.38M	-833K	-71.32M	29.23M	113.35M	-42.16M	-39.26M
Change in Receivables	-48.01M	-32.79M	-57.73M	205.67M	57.44M	-184.44M	-20.27M	222.75M	-60M	-66.64M
Change in Inventory	1.33M	4.25M	1.03M	2.73M	-2.67M	1.49M	-21.01M	7.31M	5.27M	-11.63M
Change in Payables	-27.37M	45.67M	12.76M	-6.41M	-48.48M	3.01M	53.77M	-55.31M	-4.19M	21.61M
Cash from Investing+	487.37M	-221.92M	-894.65M	-1.15B	-438.97M	-420.61M	-528.29M	-509.38M	-484.47M	-900.91M
Capital Expenditures	-226.82M	-632.85M	-1.12B	-1.19B	-487.29M	-465.86M	-565.75M	-679.4M	-540.33M	-494.99M
CapEx % of Revenue	26.75%	52.81%	63.6%	77.23%	44.88%	19.54%	14.42%	46.45%	40.15%	23.1%
Acquisitions	73.74M	42.87M	-299.27M	0	0	0	0	0	0	-409.94M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	640.45M	368.05M	521.02M	45.16M	48.32M	45.25M	37.46M	170.03M	55.86M	0
Cash from Financing+	-968.75M	36.1M	-483.14M	165.96M	-350.79M	-523.78M	-688.96M	-326.09M	-276.68M	-169.65M
Debt Issued (Net)	-959.8M	-247.75M	-42.28M	363.73M	-209.87M	-279.07M	-115.93M	1.87M	-61.61M	365.82M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-2.29M	0	0	0	0	0	0	0	0	0
Share Repurchases	-1.65M	-109.89M	-387.14M	-123.79M	-39.26M	-245.24M	-565.13M	-319.87M	-184.2M	-523.56M
Other Financing	-6.66M	393.75M	-53.72M	-74.54M	-103.71M	-4.55M	-9.1M	1.4M	-33.55M	-14.01M
Net Change in Cash	-12.1M	462.87M	-491.97M	-915K	5.32M	-18.03M	17.76M	-20.88M	54.63M	-41.61M
Free Cash Flow+	242.47M	15.84M	-230.57M	-212.04M	307.78M	460.5M	669.26M	135.18M	275.45M	533.97M
FCF Margin %	28.6%	1.32%	-13.14%	-13.73%	28.35%	19.32%	17.06%	9.24%	20.47%	24.92%
FCF Growth %	146.92%	-93.47%	-1555.55%	8.04%	245.15%	49.62%	45.33%	-79.8%	103.76%	93.86%
FCF per Share	1.06	0.07	-1.07	-1.11	1.54	2.13	3.53	0.70	1.82	3.33
FCF Conversion (FCF/Net Income)	-0.55x	1.70x	1.11x	-12.15x	-1.64x	-1.86x	-8.69x	0.47x	-9.01x	1.63x
Interest Paid	0	0	0	143.11M	141.99M	123.47M	126.64M	122.28M	136.26M	0
Taxes Paid	0	0	0	0	0	0	0	7.33M	6.05M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-19.28%	9.71%	17.74%	-1.61%	-10.31%	-12.28%	-4.27%	47.07%	-2.14%	15.01%
Return on Invested Capital (ROIC)	1.84%	6.16%	12.78%	8.23%	5.16%	20.13%	41.56%	9.72%	7.48%	9.05%
Gross Margin	35.78%	53.8%	71.76%	66.72%	58.44%	78.28%	83.01%	62.46%	59.9%	46.84%
Net Margin	-100.02%	31.77%	45.38%	-5.23%	-44.56%	-20.92%	-3.62%	117.64%	-6.72%	29.55%
Debt / Equity	0.70x	0.57x	0.47x	0.59x	0.57x	0.61x	0.81x	0.54x	0.56x	0.57x
Interest Coverage	0.95x	3.12x	7.63x	5.56x	2.99x	11.46x	24.49x	5.45x	4.34x	4.66x
FCF Conversion	-0.55x	1.70x	1.11x	-12.15x	-1.64x	-1.86x	-8.69x	0.47x	-9.01x	1.63x
Revenue Growth	12.92%	41.33%	46.47%	-12.02%	-29.69%	119.56%	64.6%	-62.72%	-7.99%	59.19%

US Stock Screener

...

CNX Resources Corporation (CNX) 10-Year Financial Performance & Capital Metrics

CNX •

EnergyOil & Gas E&PU.S. natural gas shale producers

Revenue $2.14B +59.2%
EBITDA $1.37B +20.2%
Net Income $633M +799.7%
EPS (Diluted) 3.98 +763.3%
Gross Margin 46.84% -21.8%
EBITDA Margin 63.87% -24.5%
Operating Margin 37.07% -23.6%
Net Margin 29.55% +539.5%
ROE 15.01% +801.7%
ROIC 9.05% +21.1%
Debt/Equity 0.57 +1.1%
Interest Coverage 4.66 +7.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 24.9% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 14.6%
✓Good 3Y average ROE of 20.0%
✓Healthy 5Y average net margin of 23.2%
✓Trading near 52-week high

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.05%

5Y14.56%

3Y-18.26%

TTM67.82%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM799.67%

EPS CAGR

10Y-

5Y-

3Y-

TTM644.3%

ROCE

10Y Avg13.72%

5Y Avg19.29%

3Y Avg9.78%

Latest10.34%

Peer Comparison

U.S. natural gas shale producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPSNEpsilon Energy Ltd.	112.94M	5.12	58.25	2.58%	12.86%	5.87%		0.00
ARAntero Resources Corporation	11.35B	36.81	18.13	28.09%	11.13%	7.29%	14.37%	0.46
EQTEQT Corporation	38.33B	61.42	16.16	65.53%	23.59%	7.45%	7.4%	0.29
BKVBKV Corporation	2.82B	31.33	16.07	48.16%	19.75%	8.35%		0.24
RRCRange Resources Corporation	9.78B	41.28	15.07	32.75%	9.58%	15.24%	6.03%	0.29
EXEExpand Energy Corporation	25.7B	107.92	14.26	187.23%	15.01%	9.79%	7.15%
CNXCNX Resources Corporation	5.95B	41.78	10.50	59.19%	28.03%	14.6%	8.98%	0.57
INRInfinity Natural Resources, Inc.	751.12B	16.60	4.46	60.16%	-0.58%	-0.2%		0.51

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	847.91M	1.2B	1.76B	1.54B	1.09B	2.38B	3.92B	1.46B	1.35B	2.14B
Revenue Growth %	12.92%	41.33%	46.47%	-12.02%	-29.69%	119.56%	64.6%	-62.72%	-7.99%	59.19%
Cost of Goods Sold+	544.55M	553.66M	495.64M	514M	451.19M	517.72M	666.67M	549.14M	539.67M	1.14B
COGS % of Revenue	64.22%	46.2%	28.24%	33.28%	41.56%	21.72%	16.99%	37.54%	40.1%	53.16%
Gross Profit+	303.36M	644.71M	1.26B	1.03B	634.5M	1.87B	3.26B	913.53M	806.18M	1B
Gross Margin %	35.78%	53.8%	71.76%	66.72%	58.44%	78.28%	83.01%	62.46%	59.9%	46.84%
Gross Profit Growth %	24.08%	112.52%	95.38%	-18.21%	-38.41%	194.1%	74.54%	-71.95%	-11.75%	24.47%
Operating Expenses+	117.36M	141.28M	145.84M	187.93M	124.37M	133.38M	130M	132.79M	153.18M	209.21M
OpEx % of Revenue	13.84%	11.79%	8.31%	12.17%	11.46%	5.6%	3.31%	9.08%	11.38%	9.77%
Selling, General & Admin	117.36M	141.28M	145.84M	187.93M	124.37M	133.38M	130M	132.79M	153.18M	140.3M
SG&A % of Revenue	13.84%	11.79%	8.31%	12.17%	11.46%	5.6%	3.31%	9.08%	11.38%	6.55%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	68.91M
Operating Income+	186M	503.43M	1.11B	842.32M	510.13M	1.73B	3.13B	780.74M	653M	794.26M
Operating Margin %	21.94%	42.01%	63.45%	54.55%	46.99%	72.69%	79.7%	53.38%	48.52%	37.07%
Operating Income Growth %	52.33%	170.66%	121.25%	-24.38%	-39.44%	239.65%	80.47%	-75.03%	-16.36%	21.63%
EBITDA+	605.93M	1.05B	1.61B	1.8B	1.07B	2.25B	3.59B	1.21B	1.14B	1.37B
EBITDA Margin %	71.46%	87.9%	91.57%	116.41%	98.91%	94.3%	91.45%	83.02%	84.61%	63.87%
EBITDA Growth %	22.69%	73.83%	52.59%	11.85%	-40.27%	109.33%	59.63%	-66.16%	-6.22%	20.16%
D&A (Non-Cash Add-back)	419.94M	549.9M	493.42M	955.29M	563.67M	515.12M	461.21M	433.59M	485.75M	574.11M
EBIT	-469.72M	48.09M	517.76M	183.87M	33.97M	-483.86M	-61.84M	2.24B	3.75M	973.53M
Net Interest Income+	-195.19M	-161.44M	-145.93M	-151.38M	-170.81M	-151.16M	-127.69M	-143.28M	-150.59M	-170.59M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	195.19M	161.44M	145.93M	151.38M	170.81M	151.16M	127.69M	143.28M	150.59M	170.59M
Other Income/Expense	-771.34M	-384.84M	-15.14M	-782.63M	-1.11B	-2.37B	-3.34B	1.44B	-773.36M	8.68M
Pretax Income+	-585.35M	118.58M	1.1B	59.68M	-602.83M	-636.51M	-211.95M	2.22B	-120.36M	802.94M
Pretax Margin %	-69.03%	9.9%	62.59%	3.86%	-55.53%	-26.7%	-5.4%	151.98%	-8.94%	37.48%
Income Tax+	-34.4M	-176.46M	215.56M	27.74M	-174.09M	-137.87M	-69.87M	502.21M	-29.87M	169.78M
Effective Tax Rate %	144.89%	321.09%	72.5%	-135.26%	80.25%	78.34%	67.03%	77.41%	75.18%	78.86%
Net Income+	-848.1M	380.75M	796.53M	-80.73M	-483.77M	-498.64M	-142.08M	1.72B	-90.49M	633.16M
Net Margin %	-100.02%	31.77%	45.38%	-5.23%	-44.56%	-20.92%	-3.62%	117.64%	-6.72%	29.55%
Net Income Growth %	-126.23%	144.89%	109.2%	-110.14%	-499.25%	-3.07%	71.51%	1311.12%	-105.26%	799.67%
Net Income (Continuing)	-550.95M	295.04M	883.11M	31.95M	-428.74M	-498.64M	-142.08M	1.72B	-90.49M	633.16M
Discontinued Operations	-297.16M	85.71M	0	0	0	0	0	0	0	0
Minority Interest	142.49M	0	751.78M	801.76M	0	0	0	0	0	0
EPS (Diluted)+	-3.70	1.65	3.71	0.17	-2.15	-2.31	-0.75	8.99	-0.60	3.98
EPS Growth %	-125.61%	144.59%	124.85%	-95.42%	-1364.71%	-7.44%	67.53%	1298.67%	-106.67%	763.33%
EPS (Basic)	-3.70	1.66	3.75	0.17	-2.15	-2.31	-0.75	10.63	-0.60	4.48
Diluted Shares Outstanding	229.39M	230.95M	214.63M	190.73M	199.23M	215.97M	189.51M	192.01M	151.31M	160.35M
Basic Shares Outstanding	229.39M	228.84M	212.35M	190.73M	199.23M	215.97M	189.51M	162.49M	151.31M	141.45M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	626.14M	852.5M	501.69M	498.1M	273.33M	459.81M	573.8M	421.79M	370.63M	490.34M
Cash & Short-Term Investments	60.48M	509.17M	17.2M	16.28M	15.62M	3.56M	21.32M	443K	17.2M	779K
Cash Only	60.48M	509.17M	17.2M	16.28M	15.62M	3.56M	21.32M	443K	17.2M	779K
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	175.66M	237.25M	412.98M	209.58M	150.25M	339.12M	354.64M	133.99M	197.41M	325.91M
Days Sales Outstanding	75.62	72.26	85.88	49.54	50.51	51.93	32.99	33.44	53.54	55.52
Inventory	65.46M	10.74M	9.71M	6.98M	9.66M	6.15M	27.16M	19.85M	14.57M	26.2M
Days Inventory Outstanding	43.88	7.08	7.15	4.96	7.81	4.33	14.87	13.19	9.86	8.4
Other Current Assets	198.82M	0	40.24M	247.79M	85.39M	95M	154.47M	252.52M	125.8M	118.75M
Total Non-Current Assets+	8.56B	6.08B	8.09B	8.56B	7.77B	7.64B	7.94B	8.2B	8.14B	8.6B
Property, Plant & Equipment	8.14B	5.79B	6.94B	2.64B	7.13B	1.8B	7.27B	1.58B	7.48B	8.01B
Fixed Asset Turnover	0.10x	0.21x	0.25x	0.59x	0.15x	1.33x	0.54x	0.93x	0.18x	0.27x
Goodwill	0	0	796.36M	796.36M	323.31M	323.31M	323.31M	323.31M	323.31M	323.31M
Intangible Assets	0	0	103.2M	96.65M	90.09M	83.54M	76.99M	393.75M	63.88M	57.33M
Long-Term Investments	190.96M	197.92M	18.66M	330.81M	16.02M	131.99M	244.93M	280.53M	160.18M	134.4M
Other Non-Current Assets	222.15M	91.73M	-168.86M	4.7B	204.77M	5.3B	270.31M	5.95B	111.06M	75.4M
Total Assets+	9.18B	6.93B	8.59B	9.06B	8.04B	8.1B	8.52B	8.63B	8.51B	9.09B
Asset Turnover	0.09x	0.17x	0.20x	0.17x	0.14x	0.29x	0.46x	0.17x	0.16x	0.24x
Asset Growth %	-15.97%	-24.52%	23.95%	5.45%	-11.25%	0.73%	5.12%	1.3%	-1.33%	6.84%
Total Current Liabilities+	940.01M	441.68M	522.98M	528.94M	441.31M	954.58M	1.31B	823M	1.12B	1.12B
Accounts Payable	157.1M	211.16M	229.81M	202.55M	118.19M	121.75M	191.34M	147.36M	123.25M	158.81M
Days Payables Outstanding	105.3	139.21	169.23	143.84	95.61	85.84	104.76	97.95	83.36	50.89
Short-Term Debt	1.3M	7.11M	7M	68.83M	22.57M	23.5M	0	325.67M	327.77M	208.09M
Deferred Revenue (Current)	18.21M	11.56M	17.69M	13.96M	10.99M	18.98M	22.09M	15.83M	0	0
Other Current Liabilities	639.17M	184.79M	225.59M	207.19M	72.91M	752.33M	1.01B	260.9M	576.56M	752.37M
Current Ratio	0.67x	1.93x	0.96x	0.94x	0.62x	0.48x	0.44x	0.51x	0.33x	0.44x
Quick Ratio	0.60x	1.91x	0.94x	0.93x	0.60x	0.48x	0.42x	0.49x	0.32x	0.41x
Cash Conversion Cycle	14.19	-59.86	-76.2	-89.34	-37.28	-29.58	-56.9	-51.32	-19.97	13.03
Total Non-Current Liabilities+	4.3B	2.59B	2.99B	3.57B	3.18B	3.45B	4.25B	3.44B	3.29B	3.63B
Long-Term Debt	2.42B	2.19B	2.38B	2.75B	2.4B	2.21B	2.21B	1.89B	1.84B	2.21B
Capital Lease Obligations	27.26M	20.35M	13.3M	118.17M	54.29M	34.89M	134.07M	95.03M	70.56M	24.99M
Deferred Tax Liabilities	462.52M	44.37M	398.68M	476.11M	466.25M	328.6M	232.28M	729.45M	696.14M	857.37M
Other Non-Current Liabilities	1.85B	382.96M	595.95M	220.84M	256.04M	868.29M	1.68B	729.45M	686.37M	537.43M
Total Liabilities	5.24B	3.03B	3.51B	4.1B	3.62B	4.4B	5.57B	4.27B	4.41B	4.76B
Total Debt+	2.77B	2.21B	2.4B	2.94B	2.54B	2.27B	2.39B	2.37B	2.29B	2.45B
Net Debt	2.71B	1.71B	2.38B	2.93B	2.52B	2.27B	2.37B	2.36B	2.28B	2.45B
Debt / Equity	0.70x	0.57x	0.47x	0.59x	0.57x	0.61x	0.81x	0.54x	0.56x	0.57x
Debt / EBITDA	4.58x	2.10x	1.49x	1.64x	2.36x	1.01x	0.67x	1.95x	2.01x	1.79x
Net Debt / EBITDA	4.48x	1.62x	1.48x	1.63x	2.35x	1.01x	0.66x	1.95x	2.00x	1.79x
Interest Coverage	0.95x	3.12x	7.63x	5.56x	2.99x	11.46x	24.49x	5.45x	4.34x	4.66x
Total Equity+	3.94B	3.9B	5.08B	4.96B	4.42B	3.7B	2.95B	4.36B	4.1B	4.34B
Equity Growth %	-18.84%	-1.04%	30.3%	-2.35%	-10.88%	-16.33%	-20.26%	47.81%	-6.03%	5.83%
Book Value per Share	17.18	16.89	23.68	26.02	22.20	17.13	15.57	22.71	27.08	27.05
Total Shareholders' Equity	3.8B	3.9B	4.33B	4.16B	4.42B	3.7B	2.95B	4.36B	4.1B	4.34B
Common Stock	2.3M	2.24M	1.99M	1.87M	2.21M	2.04M	1.71M	1.55M	1.49M	1.43M
Retained Earnings	1.73B	1.46B	2.07B	1.97B	1.48B	877.89M	448.99M	1.98B	1.75B	1.98B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-392.56M	-8.48M	-7.9M	-12.61M	-15.18M	-14.52M	-6.51M	-7.3M	-5.71M	-5.68M
Minority Interest	142.49M	0	751.78M	801.76M	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	469.29M	648.69M	885.82M	980.56M	795.07M	926.36M	1.24B	814.59M	815.78M	1.03B
Operating CF Margin %	55.35%	54.13%	50.47%	63.5%	73.23%	38.86%	31.48%	55.69%	60.61%	48.03%
Operating CF Growth %	-7.23%	38.23%	36.56%	10.69%	-18.92%	16.51%	33.32%	-34.04%	0.15%	26.13%
Net Income	-535.97M	295.04M	883.11M	31.95M	-428.74M	-498.64M	-142.08M	1.72B	-90.49M	633.16M
Depreciation & Amortization	598.5M	412.04M	493.42M	508.46M	501.82M	515.12M	461.21M	0	485.75M	574.11M
Stock-Based Compensation	31.48M	16.98M	21.34M	38.42M	14.38M	16.56M	16.38M	20.23M	20.09M	0
Deferred Taxes	120.31M	-142.83M	345.56M	79.09M	-118.3M	-137.89M	-76.06M	497.43M	-33.87M	161.21M
Other Non-Cash Items	374.68M	-75.5M	-744.42M	122.25M	826.75M	1.1B	946.33M	-1.54B	476.46M	-300.27M
Working Capital Changes	-119.72M	142.96M	-113.19M	200.38M	-833K	-71.32M	29.23M	113.35M	-42.16M	-39.26M
Change in Receivables	-48.01M	-32.79M	-57.73M	205.67M	57.44M	-184.44M	-20.27M	222.75M	-60M	-66.64M
Change in Inventory	1.33M	4.25M	1.03M	2.73M	-2.67M	1.49M	-21.01M	7.31M	5.27M	-11.63M
Change in Payables	-27.37M	45.67M	12.76M	-6.41M	-48.48M	3.01M	53.77M	-55.31M	-4.19M	21.61M
Cash from Investing+	487.37M	-221.92M	-894.65M	-1.15B	-438.97M	-420.61M	-528.29M	-509.38M	-484.47M	-900.91M
Capital Expenditures	-226.82M	-632.85M	-1.12B	-1.19B	-487.29M	-465.86M	-565.75M	-679.4M	-540.33M	-494.99M
CapEx % of Revenue	26.75%	52.81%	63.6%	77.23%	44.88%	19.54%	14.42%	46.45%	40.15%	23.1%
Acquisitions	73.74M	42.87M	-299.27M	0	0	0	0	0	0	-409.94M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	640.45M	368.05M	521.02M	45.16M	48.32M	45.25M	37.46M	170.03M	55.86M	0
Cash from Financing+	-968.75M	36.1M	-483.14M	165.96M	-350.79M	-523.78M	-688.96M	-326.09M	-276.68M	-169.65M
Debt Issued (Net)	-959.8M	-247.75M	-42.28M	363.73M	-209.87M	-279.07M	-115.93M	1.87M	-61.61M	365.82M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-2.29M	0	0	0	0	0	0	0	0	0
Share Repurchases	-1.65M	-109.89M	-387.14M	-123.79M	-39.26M	-245.24M	-565.13M	-319.87M	-184.2M	-523.56M
Other Financing	-6.66M	393.75M	-53.72M	-74.54M	-103.71M	-4.55M	-9.1M	1.4M	-33.55M	-14.01M
Net Change in Cash	-12.1M	462.87M	-491.97M	-915K	5.32M	-18.03M	17.76M	-20.88M	54.63M	-41.61M
Free Cash Flow+	242.47M	15.84M	-230.57M	-212.04M	307.78M	460.5M	669.26M	135.18M	275.45M	533.97M
FCF Margin %	28.6%	1.32%	-13.14%	-13.73%	28.35%	19.32%	17.06%	9.24%	20.47%	24.92%
FCF Growth %	146.92%	-93.47%	-1555.55%	8.04%	245.15%	49.62%	45.33%	-79.8%	103.76%	93.86%
FCF per Share	1.06	0.07	-1.07	-1.11	1.54	2.13	3.53	0.70	1.82	3.33
FCF Conversion (FCF/Net Income)	-0.55x	1.70x	1.11x	-12.15x	-1.64x	-1.86x	-8.69x	0.47x	-9.01x	1.63x
Interest Paid	0	0	0	143.11M	141.99M	123.47M	126.64M	122.28M	136.26M	0
Taxes Paid	0	0	0	0	0	0	0	7.33M	6.05M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-19.28%	9.71%	17.74%	-1.61%	-10.31%	-12.28%	-4.27%	47.07%	-2.14%	15.01%
Return on Invested Capital (ROIC)	1.84%	6.16%	12.78%	8.23%	5.16%	20.13%	41.56%	9.72%	7.48%	9.05%
Gross Margin	35.78%	53.8%	71.76%	66.72%	58.44%	78.28%	83.01%	62.46%	59.9%	46.84%
Net Margin	-100.02%	31.77%	45.38%	-5.23%	-44.56%	-20.92%	-3.62%	117.64%	-6.72%	29.55%
Debt / Equity	0.70x	0.57x	0.47x	0.59x	0.57x	0.61x	0.81x	0.54x	0.56x	0.57x
Interest Coverage	0.95x	3.12x	7.63x	5.56x	2.99x	11.46x	24.49x	5.45x	4.34x	4.66x
FCF Conversion	-0.55x	1.70x	1.11x	-12.15x	-1.64x	-1.86x	-8.69x	0.47x	-9.01x	1.63x
Revenue Growth	12.92%	41.33%	46.47%	-12.02%	-29.69%	119.56%	64.6%	-62.72%	-7.99%	59.19%

CNX Resources Corporation (CNX) 10-Year Financial Performance & Capital Metrics

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CNX Resources Corporation (CNX) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare CNX vs Peers

vs INR

vs EQT

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios