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CNX Resources Corporation.

CNX Energy Oil & Gas E&P

CNX Resources Corporation.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 76.8% from fiscal 2024.

Revenue
−0.66%
EPS
−22.0%
Free cash flow
−27.3%
Total debt
−11.4%

Quarter to September 2026, against a year earlier

37.37 0.12 −0.32%
Market cap
$5.4B
P/E
5.8×
Fwd P/E
7.4×
Dividend yield
—
F-score
8/9
Altman Z
1.45
Beneish M
−2.16
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 3.91
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 1 1 — 1 — — — — — —
Insider Ownership 6.05%

Capital & Financial Ratios $m

Size
Market Cap 5,360.00
Revenue ttm 2,595.63
Net income ttm 912.58
Free cash flow ttm 533.31
Net debt Q 2,302.01
Valuation
P/E 5.84
Forward P/E 7.41
Price / sales 2.10
Forward P/S Powerpack
Price / FCF 10.23
Price / book 1.13
Financial health
Current ratio Q 1.08
Debt / equity Q 0.48 (at or below 0.5: strong)
Interest coverage Q 6.55
Growth
Revenue growth Q −0.66% (below 0%: shrinking)
Operating income growth Q +6.71% (above 0%: growing)
EPS, this year +29.77% (at or above 15%: strong)
EPS, next year A +25.18% (at or above 15%: strong)
Revenue, next year A −15.99% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +26.53% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.1×, against a ten-year median of 3.5×; over the ten years it ranged from −69.2× in 2022 to 58.2× in 2021.
P/E against its own 10 years 65.03%
10-year low 10-year high
P/S against its own 10 years 47.38%
10-year low 10-year high
P/B against its own 10 years 81.72%
10-year low 10-year high
EV/Sales against its own 10 years 37.53%
10-year low 10-year high
EV/FCF against its own 10 years 55.79%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
  1. 0.01 ’16
paid Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 0 55 13 4
Receivables 134 197 326 170
Inventory 20 15 26 34
Other 253 88 106 353
422 371 490 581
2023 2024 2025 Q'26
Payables 147 123 159 146
ST’ Debt 326 328 208 —
Other 61 355 378 110
823 1,123 1,124 538

Compound Annual Growth %

10y 5y 3y
Sales 6.45% 12.22% 21.09%
Cash Flow 7.24% 5.29% (5.90%)
Earnings 0.00% 0.00% 0.00%
Book Value (1.12%) (0.39%) 13.70%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.65 Actual 0.61

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.40 0.68 Beat by 0.28
Q1 FY26 0.93 1.21 Beat by 0.28
Q2 FY26 0.57 0.72 Beat by 0.15
Q3 FY26 0.65 0.61 Miss by 0.04
Q4 FY26 0.67 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 2.18 1.32 1.12 — —
’25 (1.34) 2.53 1.21 1.28 3.98
’24 0.04 (0.12) 0.37 (0.97) (0.60)
’23 3.61 2.47 0.12 2.89 9.12
’22 (4.62) 0.15 (2.28) 5.68 (0.75)
’21 0.43 (1.61) (4.05) 2.90 (2.31)
’20 (1.76) (0.78) (1.03) 0.87 (2.43)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 787 618 580 — —
’25 82 962 584 610 2,239
’24 385 321 424 137 1,267
’23 1,276 840 351 969 3,435
’22 (913) 420 117 1,637 1,261
’21 473 (127) (880) 1,291 757
’20 416 149 66 627 1,258
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 278 280 254 — —
’25 216 282 234 297 1,029
’24 185 192 170 269 816
’23 249 199 206 161 815
’22 336 192 264 442 1,235
’21 220 239 214 253 926
’20 267 144 223 161 795
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 140 138 130 — —
’25 101 190 226 125 642
’24 25 47 64 200 336
’23 89 135 19 61 305
’22 234 62 135 276 707
’21 101 117 130 157 506
’20 129 21 121 85 356
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 760 1,455 1,730 1,922 1,258 757 1,261 3,435 1,267 2,239 2,596 +12.8% 1,881 2,157 2,321 +1.2%
Gross margin, % 45.12 70.07 78.75 78.10 69.27 42.20 55.99 86.85 65.31 80.99 83.14 +35.9 pt
EBT (585) 119 1,099 60 (603) (637) (212) 2,223 (120) 803 1,109 n/m
EBT margin, % (77.02) 8.15 63.49 3.10 (47.92) (84.11) (16.81) 64.71 (9.50) 35.86 42.72 +112.9 pt
Net income (848) 381 883 32 (429) (499) (142) 1,721 (90) 633 913 n/m
Per share, $
Per share, $ Revenue 3.31 6.36 8.15 10.08 6.31 3.50 6.66 21.14 8.37 15.83 17.77 +19.0%
Earnings (3.70) 1.66 3.75 (0.42) (2.43) (2.31) (0.75) 10.74 (0.60) 4.48 6.40 n/m
Cash flow 2.02 2.83 4.17 5.14 3.99 4.29 6.52 5.01 5.39 7.27 7.58 +15.3%
Capex (0.55) (0.96) (2.85) (6.02) (2.20) (1.95) (2.79) (3.13) (3.17) (2.74) (3.93) +19.6%
Free cash flow 1.48 1.88 1.32 (0.87) 1.79 2.34 3.73 1.88 2.22 4.54 3.65 +13.3%
Book value 17.18 17.04 23.93 26.02 22.20 17.13 15.57 26.84 27.08 30.66 33.10 +6.6%
Shares, m 229 229 212 191 199 216 190 162 151 141 144 (5.2%)
Valuation, ×
Valuation, × P/E 0.00 8.92 3.11 0.00 0.00 0.00 0.00 1.91 0.00 8.03 5.84 2.2
P/S 4.50 2.37 1.40 0.88 1.71 3.92 2.41 0.96 4.38 2.32 2.10 2.5
P/B 0.87 0.88 0.48 0.34 0.49 0.80 1.03 0.76 1.35 1.20 1.13 0.8
EV/Sales 8.08 3.54 2.78 2.34 3.63 6.88 4.18 1.61 6.06 3.41 3.07 4.3
EV/FCF 18.15 11.99 17.09 (26.98) 12.81 10.29 7.46 18.11 22.85 11.90 14.94 10.4
Cash, $m
Cash, $m Operating cash flow 464 649 886 981 795 926 1,235 815 816 1,029 1,108 +9.2%
Capex (126) (219) (605) (1,147) (439) (421) (528) (509) (480) (387) (574) +13.3%
Free cash flow 339 430 281 (167) 356 506 707 305 336 642 533 +7.4%
Balance, $m
Balance, $m Working capital (314) 411 (21) (31) (168) (495) (739) (401) (752) (634) 43 +8.1%
Net debt 2,724 1,705 2,381 2,815 2,409 2,235 2,234 2,219 2,132 2,433 2,302 (1.2%)
Shareholders’ equity 3,941 3,900 5,082 4,962 4,422 3,700 2,950 4,361 4,098 4,337 4,834 +1.1%
Returns, %
Returns, % ROA (8.43) 4.73 10.26 (0.91) (5.66) (6.18) (1.71) 20.08 (1.06) 7.19 10.10 +15.6 pt
ROIC (3.87) 1.09 3.76 1.49 (4.02) (5.03) (0.73) 21.30 0.06 8.23 11.22 +12.1 pt
ROE (19.28) 9.71 17.74 (1.61) (10.31) (12.28) (4.27) 47.07 (2.14) 15.01 20.39 +34.3 pt
People
People Employees 2,307 561 564 467 451 441 466 470 458 390 — (17.9%)
Revenue/emp, $m 0.33 2.59 3.07 4.12 2.79 1.72 2.71 7.31 2.77 5.74 — +37.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

CNX Resources Corporation. vs peers in Oil & Gas E&P (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VIST Vista Energy, S.A.B. de C.V. - Sponsored ADR $7.8B 8.9× 9.9× +102.26% (above 0%: growing) +35.27% (above 0%: growing) +195.82% (above 0%: growing) 57.36% 44.18% Compare
MTDR Matador Resources Company $7.5B 10.4× 8.7× +32.51% (above 0%: growing) +160.33% (above 0%: growing) +1,086.25% (above 0%: growing) 98.18% 48.66% Compare
MGY Magnolia Oil & Gas Corp $7.1B 11.6× 9.4× +50.11% (above 0%: growing) +136.59% (above 0%: growing) +179.06% (above 0%: growing) 96.41% 50.02% Compare
LB LandBridge Company LLC $6.4B 62.4× 57.6× +40.62% (above 0%: growing) +43.33% (above 0%: growing) +11.25% (above 0%: growing) 98.30% 66.07% Compare
MUR Murphy Oil Corporation $6.3B 21.4× 10.6× +33.46% (above 0%: growing) +912.50% (above 0%: growing) +265.13% (above 0%: growing) 100.00% 38.21% Compare
CRGY Crescent Energy Company $5.8B 101× 10.5× +55.34% (above 0%: growing) +144.26% (above 0%: growing) +26.96% (above 0%: growing) 100.00% 41.65% Compare
CNX CNX Resources Corporation. $5.4B 5.6× 7.4× −35.74% (below 0%: shrinking) −54.64% (below 0%: shrinking) −27.32% (below 0%: shrinking) 81.33% 44.91%
CRC California Resources Corporation $4.9B — (loss-making) 106× +32.62% (above 0%: growing) +200.00% (above 0%: growing) +4.59% (above 0%: growing) 71.32% 39.40% Compare
CRK Comstock Resources, Inc. $4.3B 8.2× 27.6× −24.88% (below 0%: shrinking) −93.33% (below 0%: shrinking) −7,691.86% (below 0%: shrinking) 98.75% 6.39% Compare
Median of peers $6.4B 11.6× 10.6× +37.04% +140.43% +103.01% 98.24% 42.92%

All 74 Oil & Gas E&P stocks →

Pay and ownership Proxy statement filed 26 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 7.42m 4.88m 340.80
2024 6.12m 15.85m 339.80
2023 6.43m 8.15m 185.30
2022 6.55m 10.20m 155.90
2021 8.57m 10.14m 127.30

Ownership

Directors and executive officers, together 5.03%
BlackRock, Inc. 13.89%
The Vanguard Group 11.22%
Dimensional Fund Advisors LP 6.08%
MFN Partners, LP 5.88%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

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stockrow.com/CNX · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com