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

CNX • • Industrial / General
EnergyOil & Gas E&PUnconventional Shale E&PAppalachian Basin Gas Focused
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 $1.35B -8.0%
  • EBITDA $1.14B -6.2%
  • Net Income -$90M -105.3%
  • EPS (Diluted) -0.60 -106.7%
  • Gross Margin 59.9% -4.1%
  • EBITDA Margin 84.61% +1.9%
  • Operating Margin 48.52% -9.1%
  • Net Margin -6.72% -105.7%
  • ROE -2.14% -104.5%
  • ROIC 7.48% -23.1%
  • Debt/Equity 0.56 +3.1%
  • Interest Coverage 4.34 -20.4%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓FCF machine: 20.5% free cash flow margin
  • ✓Share count reduced 21.2% through buybacks
  • ✓Trading at only 1.3x book value

✗Weaknesses

  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-7.58%
5Y-2.71%
3Y-17.35%
TTM50.62%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-48.55%

EPS CAGR

10Y-
5Y-
3Y-
TTM-55.89%

ROCE

10Y Avg12.8%
5Y Avg18.48%
3Y Avg20.86%
Latest8.6%

Peer Comparison

Appalachian Basin Gas Focused
Select Columns
Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
Safety & Leverage
TTM Growth
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Latest Quarter
Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ARAntero Resources Corporation9.8B31.78176.56-3.75%11.13%7.29%7.62%0.56
EQTEQT Corporation31.15B49.92121.763%20.69%6.65%1.84%0.39
EPSNEpsilon Energy Ltd.134.52M4.5051.192.58%12.86%5.87%0.00
RRCRange Resources Corporation7.96B33.6030.83-7.65%20%13.65%3.97%0.46
INRInfinity Natural Resources, Inc.216M13.823.7260.16%-0.58%-0.2%0.51
BKVBKV Corporation2.47B25.50-12.62-18.23%5.54%2.48%0.71%0.11
EXEExpand Energy Corporation23.7B99.52-21.87-45.71%7.99%4.78%0.03%0.33
CNXCNX Resources Corporation5.18B35.90-59.83-7.99%14.17%7.1%5.32%0.56

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+750.9M847.91M1.2B1.76B1.54B1.09B2.38B3.92B1.46B1.35B
Revenue Growth %-0.75%0.13%0.41%0.46%-0.12%-0.3%1.2%0.65%-0.63%-0.08%
Cost of Goods Sold+506.41M544.55M553.66M495.64M514M451.19M517.72M666.67M549.14M539.67M
COGS % of Revenue0.67%0.64%0.46%0.28%0.33%0.42%0.22%0.17%0.38%0.4%
Gross Profit+244.49M303.36M644.71M1.26B1.03B634.5M1.87B3.26B913.53M806.18M
Gross Margin %0.33%0.36%0.54%0.72%0.67%0.58%0.78%0.83%0.62%0.6%
Gross Profit Growth %-0.84%0.24%1.13%0.95%-0.18%-0.38%1.94%0.75%-0.72%-0.12%
Operating Expenses+122.39M117.36M141.28M145.84M187.93M124.37M133.38M130M132.79M153.18M
OpEx % of Revenue0.16%0.14%0.12%0.08%0.12%0.11%0.06%0.03%0.09%0.11%
Selling, General & Admin122.39M117.36M141.28M145.84M187.93M124.37M133.38M130M132.79M153.18M
SG&A % of Revenue0.16%0.14%0.12%0.08%0.12%0.11%0.06%0.03%0.09%0.11%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0000000000
Operating Income+122.1M186M503.43M1.11B842.32M510.13M1.73B3.13B780.74M653M
Operating Margin %0.16%0.22%0.42%0.63%0.55%0.47%0.73%0.8%0.53%0.49%
Operating Income Growth %-0.9%0.52%1.71%1.21%-0.24%-0.39%2.4%0.8%-0.75%-0.16%
EBITDA+493.88M605.93M1.05B1.61B1.8B1.07B2.25B3.59B1.21B1.14B
EBITDA Margin %0.66%0.71%0.88%0.92%1.16%0.99%0.94%0.91%0.83%0.85%
EBITDA Growth %-0.72%0.23%0.74%0.53%0.12%-0.4%1.09%0.6%-0.66%-0.06%
D&A (Non-Cash Add-back)371.78M419.94M549.9M493.42M955.29M563.67M515.12M461.21M433.59M485.75M
EBIT80.4M-469.72M48.09M517.76M183.87M33.97M-483.86M-61.84M2.24B3.75M
Net Interest Income+-213.97M-195.19M-161.44M-145.93M-151.38M-170.81M-151.16M-127.69M-143.28M-150.59M
Interest Income2.3M000000000
Interest Expense216.27M195.19M161.44M145.93M151.38M170.81M151.16M127.69M143.28M150.59M
Other Income/Expense-1.05B-771.34M-384.84M-15.14M-782.63M-1.11B-2.37B-3.34B1.44B-773.36M
Pretax Income+-930.56M-585.35M118.58M1.1B59.68M-602.83M-636.51M-211.95M2.22B-120.36M
Pretax Margin %-1.24%-0.69%0.1%0.63%0.04%-0.56%-0.27%-0.05%1.52%-0.09%
Income Tax+-280.36M-34.4M-176.46M215.56M27.74M-174.09M-137.87M-69.87M502.21M-29.87M
Effective Tax Rate %0.4%1.45%3.21%0.72%-1.35%0.8%0.78%0.67%0.77%0.75%
Net Income+-374.88M-848.1M380.75M796.53M-80.73M-483.77M-498.64M-142.08M1.72B-90.49M
Net Margin %-0.5%-1%0.32%0.45%-0.05%-0.45%-0.21%-0.04%1.18%-0.07%
Net Income Growth %-3.3%-1.26%1.45%1.09%-1.1%-4.99%-0.03%0.72%13.11%-1.05%
Net Income (Continuing)-650.2M-550.95M295.04M883.11M31.95M-428.74M-498.64M-142.08M1.72B-90.49M
Discontinued Operations275.31M-297.16M85.71M0000000
Minority Interest153.75M142.49M0751.78M801.76M00000
EPS (Diluted)+-1.64-3.701.653.710.17-2.15-2.31-0.758.99-0.60
EPS Growth %-3.34%-1.26%1.45%1.25%-0.95%-13.65%-0.07%0.68%12.99%-1.07%
EPS (Basic)-1.64-3.701.663.750.17-2.15-2.31-0.7510.63-0.60
Diluted Shares Outstanding229.19M229.39M230.95M214.63M190.73M199.23M215.97M189.51M192.01M151.31M
Basic Shares Outstanding228.94M229.39M228.84M212.35M190.73M199.23M215.97M189.51M162.49M151.31M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+804.76M626.14M852.5M501.69M498.1M273.33M459.81M573.8M421.79M370.63M
Cash & Short-Term Investments72.58M60.48M509.17M17.2M16.28M15.62M3.56M21.32M443K17.2M
Cash Only72.58M60.48M509.17M17.2M16.28M15.62M3.56M21.32M443K17.2M
Short-Term Investments0000000000
Accounts Receivable287M175.66M237.25M412.98M209.58M150.25M339.12M354.64M133.99M197.41M
Days Sales Outstanding139.5175.6272.2685.8849.5450.5151.9332.9933.4453.54
Inventory97.44M65.46M10.74M9.71M6.98M9.66M6.15M27.16M19.85M14.57M
Days Inventory Outstanding70.2343.887.087.154.967.814.3314.8713.199.86
Other Current Assets216.73M364.45M77.33M40.24M247.79M85.39M95M154.47M252.52M125.8M
Total Non-Current Assets+10.13B8.56B6.08B8.09B8.56B7.77B7.64B7.94B8.2B8.14B
Property, Plant & Equipment9.67B8.14B5.79B6.94B2.64B7.13B1.8B7.27B1.58B7.48B
Fixed Asset Turnover0.08x0.10x0.21x0.25x0.59x0.15x1.33x0.54x0.93x0.18x
Goodwill000796.36M796.36M323.31M323.31M323.31M323.31M323.31M
Intangible Assets000103.2M96.65M90.09M83.54M76.99M393.75M63.88M
Long-Term Investments237.33M190.96M197.92M18.66M330.81M16.02M131.99M244.93M280.53M160.18M
Other Non-Current Assets218.43M222.15M91.73M-168.86M4.7B204.77M5.3B270.31M5.95B111.06M
Total Assets+10.93B9.18B6.93B8.59B9.06B8.04B8.1B8.52B8.63B8.51B
Asset Turnover0.07x0.09x0.17x0.20x0.17x0.14x0.29x0.46x0.17x0.16x
Asset Growth %-0.07%-0.16%-0.25%0.24%0.05%-0.11%0.01%0.05%0.01%-0.01%
Total Current Liabilities+1.68B940.01M441.68M522.98M528.94M441.31M954.58M1.31B823M1.12B
Accounts Payable250.61M157.1M211.16M229.81M202.55M118.19M121.75M191.34M147.36M123.25M
Days Payables Outstanding180.63105.3139.21169.23143.8495.6185.84104.7697.9583.36
Short-Term Debt953.82M1.3M7.11M7M68.83M22.57M23.5M0325.67M327.77M
Deferred Revenue (Current)01000K1000K1000K1000K1000K1000K1000K1000K0
Other Current Liabilities378.56M639.17M184.79M225.59M207.19M72.91M752.33M1.01B260.9M576.56M
Current Ratio0.48x0.67x1.93x0.96x0.94x0.62x0.48x0.44x0.51x0.33x
Quick Ratio0.42x0.60x1.91x0.94x0.93x0.60x0.48x0.42x0.49x0.32x
Cash Conversion Cycle29.1114.19-59.86-76.2-89.34-37.28-29.58-56.9-51.32-19.97
Total Non-Current Liabilities+4.39B4.3B2.59B2.99B3.57B3.18B3.45B4.25B3.44B3.29B
Long-Term Debt2.7B2.42B2.19B2.38B2.75B2.4B2.21B2.21B1.89B1.84B
Capital Lease Obligations34.88M27.26M20.35M13.3M118.17M54.29M34.89M134.07M95.03M70.56M
Deferred Tax Liabilities74.63M462.52M44.37M398.68M476.11M466.25M328.6M232.28M729.45M696.14M
Other Non-Current Liabilities1.65B1.85B382.96M595.95M220.84M256.04M868.29M1.68B729.45M686.37M
Total Liabilities6.07B5.24B3.03B3.51B4.1B3.62B4.4B5.57B4.27B4.41B
Total Debt+3.71B2.77B2.21B2.4B2.94B2.54B2.27B2.39B2.37B2.29B
Net Debt3.63B2.71B1.71B2.38B2.93B2.52B2.27B2.37B2.36B2.28B
Debt / Equity0.76x0.70x0.57x0.47x0.59x0.57x0.61x0.81x0.54x0.56x
Debt / EBITDA7.51x4.58x2.10x1.49x1.64x2.36x1.01x0.67x1.95x2.01x
Net Debt / EBITDA7.36x4.48x1.62x1.48x1.63x2.35x1.01x0.66x1.95x2.00x
Interest Coverage0.56x0.95x3.12x7.63x5.56x2.99x11.46x24.49x5.45x4.34x
Total Equity+4.86B3.94B3.9B5.08B4.96B4.42B3.7B2.95B4.36B4.1B
Equity Growth %-0.09%-0.19%-0.01%0.3%-0.02%-0.11%-0.16%-0.2%0.48%-0.06%
Book Value per Share21.1917.1816.8923.6826.0222.2017.1315.5722.7127.08
Total Shareholders' Equity4.7B3.8B3.9B4.33B4.16B4.42B3.7B2.95B4.36B4.1B
Common Stock2.29M2.3M2.24M1.99M1.87M2.21M2.04M1.71M1.55M1.49M
Retained Earnings2.58B1.73B1.46B2.07B1.97B1.48B877.89M448.99M1.98B1.75B
Treasury Stock0000000000
Accumulated OCI-315.6M-392.56M-8.48M-7.9M-12.61M-15.18M-14.52M-6.51M-7.3M-5.71M
Minority Interest153.75M142.49M0751.78M801.76M00000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+505.85M469.29M648.69M885.82M980.56M795.07M926.36M1.24B814.59M815.78M
Operating CF Margin %0.67%0.55%0.54%0.5%0.63%0.73%0.39%0.31%0.56%0.61%
Operating CF Growth %-0.46%-0.07%0.38%0.37%0.11%-0.19%0.17%0.33%-0.34%0%
Net Income-364.48M-535.97M295.04M883.11M31.95M-428.74M-498.64M-142.08M1.72B-90.49M
Depreciation & Amortization649.6M598.5M412.04M493.42M508.46M501.82M515.12M461.21M0485.75M
Stock-Based Compensation24.51M31.48M16.98M21.34M38.42M14.38M16.56M16.38M20.23M20.09M
Deferred Taxes-152.05M120.31M-142.83M345.56M79.09M-118.3M-137.89M-76.06M497.43M-33.87M
Other Non-Cash Items377.05M374.68M-75.5M-744.42M122.25M826.75M1.1B946.33M-1.54B476.46M
Working Capital Changes-28.78M-119.72M142.96M-113.19M200.38M-833K-71.32M29.23M113.35M-42.16M
Change in Receivables118.2M-48.01M-32.79M-57.73M205.67M57.44M-184.44M-20.27M222.75M-60M
Change in Inventory4.43M1.33M4.25M1.03M2.73M-2.67M1.49M-21.01M7.31M5.27M
Change in Payables-148.58M-27.37M45.67M12.76M-6.41M-48.48M3.01M53.77M-55.31M-4.19M
Cash from Investing+-996.22M487.37M-221.92M-894.65M-1.15B-438.97M-420.61M-528.29M-509.38M-484.47M
Capital Expenditures-1.02B-226.82M-632.85M-1.12B-1.19B-487.29M-465.86M-565.75M-679.4M-540.33M
CapEx % of Revenue1.36%0.27%0.53%0.64%0.77%0.45%0.2%0.14%0.46%0.4%
Acquisitions----------
Investments----------
Other Investing110.57M640.45M368.05M521.02M45.16M48.32M45.25M37.46M170.03M55.86M
Cash from Financing+385.96M-968.75M36.1M-483.14M165.96M-350.79M-523.78M-688.96M-326.09M-276.68M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-33.28M-2.29M00000000
Share Repurchases----------
Other Financing305.23M-6.66M393.75M-53.72M-74.54M-103.71M-19.03M-9.1M1.4M-33.55M
Net Change in Cash----------
Free Cash Flow+-516.72M242.47M15.84M-230.57M-212.04M307.78M460.5M669.26M135.18M275.45M
FCF Margin %-0.69%0.29%0.01%-0.13%-0.14%0.28%0.19%0.17%0.09%0.2%
FCF Growth %0.07%1.47%-0.93%-15.56%0.08%2.45%0.5%0.45%-0.8%1.04%
FCF per Share-2.251.060.07-1.07-1.111.542.133.530.701.82
FCF Conversion (FCF/Net Income)-1.35x-0.55x1.70x1.11x-12.15x-1.64x-1.86x-8.69x0.47x-9.01x
Interest Paid0000143.11M141.99M123.47M126.64M122.28M136.26M
Taxes Paid000000007.33M6.05M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-7.36%-19.28%9.71%17.74%-1.61%-10.31%-12.28%-4.27%47.07%-2.14%
Return on Invested Capital (ROIC)1.08%1.84%6.16%12.78%8.23%5.16%20.13%41.56%9.72%7.48%
Gross Margin32.56%35.78%53.8%71.76%66.72%58.44%78.28%83.01%62.46%59.9%
Net Margin-49.92%-100.02%31.77%45.38%-5.23%-44.56%-20.92%-3.62%117.64%-6.72%
Debt / Equity0.76x0.70x0.57x0.47x0.59x0.57x0.61x0.81x0.54x0.56x
Interest Coverage0.56x0.95x3.12x7.63x5.56x2.99x11.46x24.49x5.45x4.34x
FCF Conversion-1.35x-0.55x1.70x1.11x-12.15x-1.64x-1.86x-8.69x0.47x-9.01x
Revenue Growth-74.63%12.92%41.33%46.47%-12.02%-29.69%119.56%64.6%-62.72%-7.99%

Revenue by Segment

2015201620172018201920202021202220232024
Natural Gas---1.39B1.25B823.13M1.96B3.39B1.13B986.03M
Natural Gas Growth-----10.09%-34.20%137.96%73.09%-66.64%-12.82%
NGLs---165.88M104.14M64.14M202.67M241.53M157.57M190.37M
NGLs Growth-----37.22%-38.41%215.99%19.18%-34.76%20.82%
Oil and Gas, Purchased---65.99M94.03M105.79M99.71M185.55M74.22M59.47M
Oil and Gas, Purchased Growth----42.50%12.51%-5.75%86.09%-60.00%-19.88%
Oil and Condensate------22.54M20.16M13.58M9.68M
Oil and Condensate Growth--------10.59%-32.64%-28.74%
Oil and Gas Service---1.58B1.36B896.75M----
Oil and Gas Service Growth-----13.54%-34.27%----
Condensate---17.56M8.75M9.47M----
Condensate Growth-----50.16%8.27%----
Natural Gas, Midstream---89.78M74.31M-----
Natural Gas, Midstream Growth-----17.23%-----
Oil---3.04M422K-----
Oil Growth-----86.10%-----
Gas45.18M695.91M1.46B-------
Gas Growth-1440.26%109.10%-------
Others-32.04M--------
Others Growth----------
Coal30.97M1.11B--------
Coal Growth-3491.08%--------
Intersegment Eliminations-1.54M-424K--------
Intersegment Eliminations Growth-72.43%--------

Revenue by Geography

2015201620172018201920202021202220232024
Utica Shale---426M------
Utica Shale Growth----------
UNITED STATES2.4B1.8B--------
UNITED STATES Growth--24.90%--------
Asia-109.31M--------
Asia Growth----------
Europe67.69M40.7M--------
Europe Growth--39.86%--------
South America20.96M25.41M--------
South America Growth-21.22%--------
CANADA5.84M5.83M--------
CANADA Growth--0.03%--------

Frequently Asked Questions

Growth & Financials

CNX Resources Corporation (CNX) reported $2.06B in revenue for fiscal year 2024. This represents a 66% decrease from $6.12B in 2011.

CNX Resources Corporation (CNX) saw revenue decline by 8.0% over the past year.

Yes, CNX Resources Corporation (CNX) is profitable, generating $292.3M in net income for fiscal year 2024 (-6.7% net margin).

Dividend & Returns

CNX Resources Corporation (CNX) has a return on equity (ROE) of -2.1%. Negative ROE indicates the company is unprofitable.

CNX Resources Corporation (CNX) generated $574.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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