CNX Resources Corporation (CNX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.55	$0.71	+29.1%	—	$442.1M	—
Q1 26	$0.97	$1.2	+23.7%	—	$782.7M	—
Q4 25	$0.39	$0.67	+71.8%	—	$538.4M	—
Q3 25	$0.37	$0.49	+32.4%	—	$452.1M	—
Q2 25	$0.45	$0.58	+28.9%	—	$541.3M	—
Q1 25	$0.63	$0.78	+23.8%	—	$610.6M	—
Q4 24	$0.47	$0.57	+21.3%	—	$419.6M	—
Q3 24	$0.36	$0.41	+13.9%	—	$335.2M	—
Q2 24	$0.29	$0.36	+24.1%	—	$307.3M	—
Q1 24	$0.39	$0.45	+15.4%	—	$377M	—
Q4 23	$0.32	$0.67	+109.4%	—	$392.6M	—
Q3 23	$0.32	$0.35	+9.4%	—	$302.7M	—
Q2 23	$0.25	$0.3	+20.0%	—	$297.2M	—
Q1 23	$0.57	$0.55	-3.5%	—	$513.8M	—
Q4 22	$0.62	$1.64	+164.5%	—	$859.2M	—
Q3 22	$0.72	-$0.53	-173.6%	—	$1.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.48	—	—	$2.1B	—
FY24	—	-$0.6	—	—	$1.4B	—
FY23	—	$10.7	—	—	$1.5B	—
FY22	—	-$0.75	—	—	$3.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$901M	$1.2B	$1.8B	$1.5B	$1.1B	$2.4B	$3.9B	$1.5B	$1.4B	$2.1B
YoY change	+11.8%	+38.5%	+41.1%	-12.2%	-29.8%	+120.2%	+64.3%	-61.6%	-4.45%	+48.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	901M	1.2B	1.8B	1.5B	1.1B	2.4B	3.9B	1.5B	1.4B	2.1B
Cost of revenue	964.5M	965.7M	989.1M	1B	953M	1B	1.1B	976.7M	1B	1.1B
Gross profit	-63.5M	282.5M	771.6M	523.9M	132M	1.4B	2.8B	529.6M	415.8M	1B
Gross margin	-7.05%	22.6%	43.8%	33.9%	12.2%	56.8%	71.3%	35.2%	28.9%	47.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	104.8M	93.2M	134.8M	143.6M	109.4M	112.8M	121.7M	125.3M	145.7M	151M
Operating expenses	208.1M	253.7M	219.3M	267.2M	209.8M	202M	193.8M	215.4M	236.9M	224.5M
Operating income	-271.6M	28.9M	552.3M	256.7M	-77.9M	1.2B	2.6B	314.2M	178.8M	787.5M
Operating margin	-30.1%	2.31%	31.4%	16.6%	-7.18%	48.3%	66.3%	20.9%	12.4%	36.8%
Non-operating income, net	-131.5M	251.2M	692.3M	-45.6M	-354.2M	-1.6B	-2.7B	2.1B	-148.6M	195M
Pretax income	-585.3M	118.6M	1.1B	59.7M	-602.8M	-636.5M	-211.9M	2.2B	-120.4M	802.9M
Income tax	-34.4M	-176.5M	215.6M	27.7M	-174.1M	-137.9M	-69.9M	502.2M	-29.9M	169.8M
Net income	-848.1M	380.7M	883.1M	31.9M	-428.7M	-498.6M	-142.1M	1.7B	-90.5M	633.2M
Net margin	-94.1%	30.5%	50.2%	2.07%	-39.5%	-20.9%	-3.62%	114.2%	-6.29%	29.6%
EBITDA	143.5M	437.1M	1.7B	762.3M	400.4M	1.7B	3.1B	738.8M	670.7M	1.4B
EPS	-3.7	1.66	3.75	-0.42	-2.43	-2.31	-0.75	10.7	-0.6	4.48
Diluted EPS	-3.7	1.65	3.71	-0.42	-2.43	-2.31	-0.75	9.12	-0.6	3.98

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	302.7M	392.6M	377M	307.3M	335.2M	419.6M	610.6M	541.3M	452.1M	538.4M	782.7M	442.1M
Cost of revenue	246.1M	251M	254.2M	244.1M	267M	256.1M	265M	294.9M	289.7M	281.9M	279.8M	279.5M
Gross profit	56.6M	141.5M	122.8M	63.3M	68.3M	163.5M	345.6M	246.4M	162.5M	256.5M	502.8M	162.6M
Gross margin	18.7%	36.1%	32.6%	20.6%	20.4%	39%	56.6%	45.5%	35.9%	47.6%	64.2%	36.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	30.2M	29.5M	39M	34M	34.5M	37.5M	42M	33M	31M	47M	34M	36M
Operating expenses	53.9M	48.9M	63.3M	57.4M	51.9M	62M	55.1M	55.8M	50.7M	65M	33.2M	54.8M
Operating income	2.8M	92.6M	59.5M	5.9M	16.4M	101.5M	290.5M	190.7M	111.8M	191.5M	469.7M	107.9M
Operating margin	0.91%	23.6%	15.8%	1.92%	4.88%	24.2%	47.6%	35.2%	24.7%	35.6%	60%	24.4%
Non-operating income, net	54.9M	583.7M	-15.4M	20.9M	107.1M	-266.9M	-518.6M	440.8M	200.2M	74.6M	-4.7M	178.7M
Pretax income	19.2M	639M	6.3M	-15.2M	82.6M	-194M	-272.8M	585.6M	265.7M	224.4M	428.4M	236.9M
Income tax	-2.1M	125M	-532K	3M	17M	-49.4M	-75.1M	153.1M	63.6M	28.2M	80.3M	34M
Net income	21.4M	514M	6.9M	-18.3M	65.5M	-144.6M	-197.7M	432.5M	202.1M	196.3M	348.1M	202.9M
Net margin	7.06%	130.9%	1.82%	-5.94%	19.5%	-34.5%	-32.4%	79.9%	44.7%	36.4%	44.5%	45.9%
EBITDA	113.2M	201.6M	183.2M	121M	134.2M	242.3M	414.5M	342.4M	258.8M	336.9M	605.2M	243.5M
EPS	0.13	3.43	0.04	-0.12	0.44	-0.97	-1.34	3.02	1.45	1.45	2.45	1.37
Diluted EPS	0.12	2.89	0.04	-0.12	0.37	-0.97	-1.34	2.53	1.21	1.28	2.18	1.32

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.5B	3.4B	2.4B	1.7B	2.2B	3B	—	—	5.5B	5.2B	4.7B
Enterprise value	5.9B	5.1B	4.8B	4.6B	4.7B	5.2B	—	—	7.8B	7.8B	7.2B
Shares outstanding	229.2M	229.4M	212.4M	192.2M	199.1M	216M	189.5M	162.5M	151.3M	141.5M	141.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	8.81	2.75	53.2	—	—	—	—	—	8.21	5.2
P/S	3.86	2.69	1.38	1.1	1.98	1.24	—	—	3.86	2.43	2.22
P/B	0.88	0.86	0.48	0.34	0.49	0.8	—	—	1.35	1.2	0.99
EV/EBITDA	41.1	11.6	2.85	6.07	11.7	3.17	—	—	11.7	5.77	3.95
EV/Sales	6.54	4.05	2.73	2.99	4.31	2.19	—	—	5.44	3.64	3.38
Earnings yield	—	11.3%	36.4%	1.88%	—	—	—	—	—	12.2%	19.2%
FCF yield	8.37%	0.47%	-9.51%	-12.5%	14.3%	15.5%	—	—	4.96%	10.3%	9.32%
PEG	—	—	—	—	—	—	—	—	—	—	-0.1

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	-7.05%	22.6%	43.8%	33.9%	12.2%	56.8%	71.3%	35.2%	28.9%	47.2%	36.8%
Operating margin	-30.1%	2.31%	31.4%	16.6%	-7.18%	48.3%	66.3%	20.9%	12.4%	36.8%	62.9%
Net margin	-94.1%	30.5%	50.2%	2.07%	-39.5%	-20.9%	-3.62%	114.2%	-6.29%	29.6%	44.4%
ROE	-21.5%	9.76%	17.4%	0.64%	-9.69%	-13.5%	-4.82%	39.5%	-2.21%	14.6%	21.2%
ROA	-9.24%	5.49%	10.3%	0.35%	-5.33%	-6.16%	-1.67%	19.9%	-1.06%	6.96%	8.72%
ROIC	-4.28%	0.51%	5.95%	1.74%	-1.12%	19.3%	49%	3.62%	2.81%	8.95%	10%
Return on tangible assets	-9.24%	5.49%	13%	0.44%	-5.94%	-6.84%	-1.84%	22%	-1.17%	7.6%	11.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.67	1.93	0.96	0.94	0.62	0.48	0.44	0.51	0.33	0.44	0.72
Quick ratio	0.65	1.91	0.94	0.93	0.6	0.48	0.42	0.49	0.32	0.41	0.67
Debt / equity	0.62	0.57	0.47	0.59	0.57	0.61	0.81	0.54	0.56	0.6	0.49
Debt / assets	0.27	0.32	0.28	0.32	0.32	0.28	0.28	0.27	0.27	0.29	0.26
Net debt / EBITDA	16.8	3.9	1.41	3.84	6.3	1.37	0.77	3.2	3.39	1.92	1.64
Interest coverage	-2.21	1.73	8.53	1.39	-2.53	-3.21	-0.66	16.5	0.2	5.71	7.74
Effective tax rate	0%	0%	19.6%	46.5%	0%	0%	0%	22.6%	0%	21.1%	17.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.93	5.44	8.29	8.04	5.45	11.1	20.7	9.27	9.51	15.1	15.2
EPS (basic)	-3.7	1.66	3.75	-0.42	-2.43	-2.31	-0.75	10.7	-0.6	4.48	4.48
EPS (diluted)	-3.7	1.65	3.71	-0.42	-2.43	-2.31	-0.75	9.12	-0.6	3.98	6.17
Book value per share	17.2	17	23.9	25.8	22.2	17.1	15.6	26.8	27.1	30.7	32.5
FCF per share	1.27	0.07	-1.09	-1.1	1.55	2.13	3.53	0.83	1.82	3.77	3.42
Cash per share	0.2	2.22	0.08	0.08	0.08	0.02	0.11	0	0.11	0.01	0.04
Capex per share	0.2	1.81	2.41	0.23	—	—	—	—	—	3.5	3.65

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.22%	33.2%	29.1%	2.92%	—	—	—	—	—	23.1%	25.4%
Capex / operating cash flow	50.4%	54.3%	32.4%	4.87%	—	—	—	—	—	48.1%	51.6%
Payout ratio	-0.27%	0%	0%	—	—	—	—	—	—	—	0%
Dividend yield	0.07%	0%	0%	—	—	—	—	—	—	—	0.11%

Yield

0.11%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.0083

ex-dividend Feb 11, 2016

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Feb 11, 2016	$0.0083
Nov 9, 2015	$0.0083
Aug 6, 2015	$0.0083
May 7, 2015	$0.0521
Feb 12, 2015	$0.0521

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$302.7M	$392.6M	$377M	$307.3M	$335.2M	$419.6M	$610.6M	$541.3M	$452.1M	$538.4M	$782.7M	$442.1M
YoY change	-74.3%	-54.3%	-26.6%	+3.4%	+10.8%	+6.88%	+62%	+76.1%	+34.9%	+28.3%	+28.2%	-18.3%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	46.3M	509.2M	17.2M	16.3M	15.6M	3.6M	21.3M	443K	17.2M	779K
Receivables	124.5M	156.8M	252.4M	133.5M	145.9M	330.1M	348.5M	116.1M	179.5M	264.7M
Inventory	15.3M	10.7M	9.7M	7M	9.7M	6.1M	27.2M	19.8M	14.6M	26.2M
Total current assets	626.1M	852.5M	501.7M	498.1M	273.3M	459.8M	573.8M	421.8M	370.6M	490.3M
Property, plant & equipment	6B	5.8B	6.9B	7.3B	7.1B	7B	7.3B	7.5B	7.5B	8B
Goodwill & intangibles	—	0	1.8B	1.8B	826.8M	813.7M	800.6M	787.5M	774.4M	761.3M
Total assets	9.2B	6.9B	8.6B	9.1B	8B	8.1B	8.5B	8.6B	8.5B	9.1B
Accounts payable	157.1M	211.2M	229.8M	202.6M	118.2M	121.8M	191.3M	147.4M	123.2M	158.8M
Short-term debt	7.9M	7.1M	7M	68.8M	82M	23.5M	48.3M	381.3M	383.5M	261.6M
Total current liabilities	940M	441.7M	523M	528.9M	441.3M	954.6M	1.3B	823M	1.1B	1.1B
Long-term debt	2.4B	2.2B	2.4B	2.9B	2.5B	2.2B	2.3B	2B	1.9B	2.3B
Total liabilities	5.2B	3B	3.5B	4.1B	3.6B	4.4B	5.6B	4.3B	4.4B	4.8B
Shareholders' equity	3.9B	3.9B	5.1B	5B	4.4B	3.7B	3B	4.4B	4.1B	4.3B
Total debt	2.5B	2.2B	2.4B	2.9B	2.5B	2.3B	2.4B	2.4B	2.3B	2.6B
Net debt	2.4B	1.7B	2.4B	2.9B	2.5B	2.3B	2.4B	2.4B	2.3B	2.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	8.7M	443K	2M	3.9M	1.3M	17.2M	2.6M	3.4M	4.7M	779K	3.7M	6.2M
Receivables	75.9M	116.1M	91.1M	108.1M	101.8M	179.5M	246.8M	180.2M	141.3M	264.7M	209.5M	163.8M
Inventory	20M	19.8M	14.4M	14.5M	13M	14.6M	—	39.3M	30.8M	26.2M	30.1M	32.5M
Total current assets	300.6M	421.8M	460.4M	368.5M	332.9M	370.6M	425.4M	394.2M	360.9M	490.3M	458.3M	471.4M
Property, plant & equipment	7.5B	7.5B	7.5B	7.5B	7.5B	7.5B	8B	8B	8B	8B	8.1B	8.1B
Goodwill & intangibles	790.8M	787.5M	784.2M	781M	777.7M	774.4M	771.1M	767.8M	764.6M	761.3M	758M	754.7M
Total assets	8.5B	8.6B	8.7B	8.6B	8.5B	8.5B	9B	9B	8.9B	9.1B	9.1B	9.1B
Accounts payable	186M	147.4M	163M	126.2M	120.1M	123.2M	144.4M	120M	110.6M	158.8M	162M	179.8M
Short-term debt	382.4M	381.3M	380.1M	380.6M	378.8M	383.5M	382.7M	381M	405.5M	261.6M	261M	51.9M
Total current liabilities	991M	823M	874.1M	893.4M	892.7M	1.1B	1.6B	1.2B	1.1B	1.1B	927.7M	657.9M
Long-term debt	2B	2B	2B	2B	2B	1.9B	2.4B	2.4B	2.4B	2.3B	2.3B	2.3B
Total liabilities	4.5B	4.3B	4.3B	4.4B	4.3B	4.4B	5.3B	4.9B	4.8B	4.8B	4.5B	4.3B
Shareholders' equity	4B	4.4B	4.3B	4.3B	4.3B	4.1B	3.8B	4.1B	4.1B	4.3B	4.6B	4.8B
Total debt	2.3B	2.4B	2.4B	2.4B	2.4B	2.3B	2.8B	2.7B	2.8B	2.6B	2.5B	2.4B
Net debt	2.3B	2.4B	2.4B	2.4B	2.4B	2.3B	2.8B	2.7B	2.8B	2.6B	2.5B	2.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-550.9M	295M	883.1M	31.9M	-428.7M	-498.6M	-142.1M	1.7B	-90.5M	633.2M
Depreciation & amortization	419.9M	412M	493.4M	508.5M	501.8M	515.1M	461.2M	433.6M	485.8M	574.1M
Stock-based compensation	19.3M	17M	21.3M	38.4M	14.4M	16.6M	16.4M	20.2M	20.1M	23.7M
Change in working capital	-125.2M	211.6M	-101.1M	193.7M	-1.5M	-77.6M	28.8M	104.6M	-43.1M	-41.3M
Operating cash flow	93.3M	762.2M	1.6B	927.1M	450.8M	-695.7M	-1.4B	2.9B	659M	1B
Capital expenditure	47M	414.2M	511.8M	45.2M	—	—	—	—	—	-495M
Investing cash flow	307.3M	828.4M	724.3M	90.3M	48.3M	45.3M	37.5M	170M	55.9M	-387.3M
Dividends paid	-2.3M	0	0	—	—	—	—	—	—	—
Share repurchases	-1.6M	-109.9M	-387.1M	-123.8M	-39.3M	-245.2M	-565.1M	-319.9M	-184.2M	-523.6M
Financing cash flow	-1.9B	68M	-483.1M	166M	-350.8M	-684.3M	-689M	-326.1M	-276.7M	-169.7M
Net change in cash	-1.5B	1.7B	1.8B	1.2B	148.3M	-1.3B	-2.1B	2.7B	438.2M	472M
Free cash flow	291.5M	15.8M	-230.6M	-212M	307.8M	460.5M	669.3M	135.2M	275.4M	534M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	21.4M	514M	6.9M	-18.3M	65.5M	-144.6M	-197.7M	432.5M	202.1M	196.3M	348.1M	202.9M
Depreciation & amortization	111.9M	112.8M	118.7M	117.5M	121.2M	128.3M	127.1M	152.6M	149.3M	145.1M	134.6M	136.2M
Stock-based compensation	2.9M	4.2M	7.4M	4.2M	4.2M	4.3M	8.8M	5.1M	5.2M	4.6M	5.7M	5.8M
Change in working capital	56.2M	-86.5M	21.8M	-39.8M	-9.7M	-15.4M	-48.5M	34.8M	8.8M	-36.5M	20.9M	13.1M
Operating cash flow	285.6M	731.6M	182.9M	187.3M	289.8M	-879K	-286.5M	282.5M	233.8M	297M	277.5M	279.5M
Capital expenditure	—	—	—	—	—	—	—	-113.6M	-75.5M	-174.4M	-169.9M	-142M
Investing cash flow	19.1M	8.1M	8.5M	7.4M	4.7M	35.3M	-502.1M	-94.9M	-7.8M	-164.6M	-148.3M	-141.6M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-57M	-103.9M	-51.8M	-44.4M	-81.2M	-6.8M	-125.1M	-115.7M	-196.2M	-86.5M	-54M	-200.4M
Financing cash flow	-1.4B	1.3B	-428.3M	368.3M	-1.2B	988.4M	-173.2M	680.6M	-2.1B	1.7B	-819.1M	495.6M
Net change in cash	-1.1B	2.1B	-236.9M	563M	-901.5M	1B	-961.8M	868.2M	-1.8B	1.8B	-689.8M	633.5M
Free cash flow	349K	53.4M	16.9M	39.8M	55.4M	163.3M	84.2M	168.9M	158.2M	122.6M	107.6M	137.5M

Date	Ratio
Nov 29, 2017	6:5
Jun 1, 2006	2:1

CNX Resources Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history