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CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers. The company owns rights to extract natural gas from shale formations in Pennsylvania, West Virginia, and Ohio, as well as rights to extract natural gas from other Shale and shallow oil and gas formations primarily in Illinois, Indiana, New York, Ohio, Pennsylvania, Virginia, and West Virginia. In addition, the company designs, builds, and operates natural gas gathering systems to move natural gas from the wellhead to interstate pipelines or other local sales points; owns or operates approximately 2,600 miles of natural gas gathering pipelines as well as various natural gas processing facilities. Further, it offers turn-key solutions for water sourcing, delivery and disposal for its natural gas operations and supplies solutions for water sourcing as well as delivery and disposal 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 based in Canonsburg, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.1B | $1.5B | $633M | $534M | 14.6% | 48.9% | -799.7% |
| 2024 | $1.4B | $516M | $-90M | $275M | -2.2% | -4.5% | -105.3% |
| 2023 | $1.5B | $2.8B | $1.7B | $135M | 39.5% | -61.6% | -1311.1% |
| 2022 | $3.9B | $377M | $-142M | $669M | -4.8% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,924.99 | 1,506.30 | 1,439.19 | 2,142.47 |
| Operating Revenue | - | 3,837.66 | 1,376.44 | 1,245.54 | 1,959.08 |
| Cost Of Revenue | - | 1,127.88 | 976.72 | 1,025.42 | 1,130.48 |
| Gross Profit | - | 2,797.10 | 529.57 | 413.77 | 1,011.99 |
| Operating Expense | - | 193.76 | 215.39 | 244.45 | 224.52 |
| Selling General And Administration | - | 121.70 | 125.34 | 158 | 151 |
| Total Expenses | - | 1,321.64 | 1,192.11 | 1,269.87 | 1,355 |
| Operating Income | - | 2,603.34 | 314.19 | 169.32 | 787.48 |
| EBITDA | - | 376.96 | 2,799.79 | 515.99 | 1,547.65 |
| Normalized EBITDA | - | 3,054.70 | 738.76 | 649.72 | 1,353.66 |
| EBIT | - | -84.26 | 2,366.20 | 30.23 | 973.53 |
| Interest Income | - | - | - | 2 | 1 |
| Interest Expense | - | 127.69 | 143.28 | 150.59 | 170.59 |
| Net Interest Income | - | -127.69 | -143.28 | -159.59 | -179.59 |
| Other Non Operating Income Expenses | - | -9.86 | -9.01 | 3 | 1 |
| Other Income Expense | - | -2,687.60 | 2,052.02 | -130.73 | 194.99 |
| Interest Income Non Operating | - | - | - | 2 | 1 |
| Interest Expense Non Operating | - | 127.69 | 143.28 | 150.59 | 170.59 |
| Net Non Operating Interest Income Expense | - | -127.69 | -143.28 | -159.59 | -179.59 |
| Pretax Income | - | -211.95 | 2,222.93 | -120.36 | 802.94 |
| Tax Provision | - | -69.87 | 502.21 | -29.87 | 169.78 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -883.66 | 465.79 | -33.17 | 40.93 |
| Net Income Continuous Operations | - | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Net Income From Continuing And Discontinued Operation | - | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Net Income From Continuing Operation Net Minority Interest | - | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Net Income | - | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Net Income Common Stockholders | - | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Net Income Including Noncontrolling Interests | - | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Normalized Income | - | 1,652.01 | 125.48 | 10.07 | 480.11 |
| Diluted NI Availto Com Stockholders | - | -142.08 | 1,726.47 | -90.49 | 638.94 |
| Basic Average Shares | - | 189.51 | 162.49 | 151.31 | 141.45 |
| Diluted Average Shares | - | 189.51 | 192.01 | 151.31 | 160.35 |
| Reconciled Depreciation | - | 461.22 | 433.59 | 485.75 | 574.11 |
| Reconciled Cost Of Revenue | - | 1,127.88 | 976.72 | 1,025.42 | 1,130.48 |
| Total Unusual Items | - | -2,677.74 | 2,061.02 | -133.73 | 193.99 |
| Total Unusual Items Excluding Goodwill | - | -2,677.74 | 2,061.02 | -133.73 | 193.99 |
| Minority Interests | 0 | 0 | - | - | - |
| Special Income Charges | - | -13.97 | 132.37 | 38.67 | 97.33 |
| Other Special Charges | 33.74 | 22.95 | - | -13.96 | -0.16 |
| Impairment Of Capital Assets | 0 | 0 | - | - | - |
| Gain On Sale Of Security | - | -2,663.78 | 1,928.65 | -172.40 | 96.66 |
| General And Administrative Expense | 112.76 | 121.70 | - | 153 | 145 |
| Other Gand A | 112.76 | 121.70 | - | 73 | 66 |
| Salaries And Wages | - | - | - | 73 | 72 |
| Gain On Sale Of Ppe | - | 8.98 | 132.37 | 24.72 | 97.17 |
| Insurance And Claims | - | - | - | 4 | 4 |
| Rent Expense Supplemental | - | - | - | 3 | 3 |
| Total Other Finance Cost | - | - | - | 11 | 10 |
| Other Operating Expenses | - | 72.06 | 90.04 | 86.45 | 73.52 |
| Selling And Marketing Expense | - | - | - | 5 | 6 |
| Rent And Landing Fees | - | - | - | 3 | 3 |
| Average Dilution Earnings | - | 0 | 5.76 | 0 | 5.78 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CNX Resources Corporationthis co. | CNX | $4.8B | 7.60↓ discount | 1.11 | 14.6% | 4.79 |
| Valaris Limited | VAL | $6.4B | 6.55 | 2.03 | 31.0% | 8.77 |
| Murphy Oil Corporation | MUR | $5.7B | 54.97 | 1.12 | 2.0% | 6.01 |
| Golar LNG Limited | GLNG | $5.2B | 79.67 | 2.84 | 3.6% | 36.01 |
| PBF Energy Inc. | PBF | $5.1B | -31.92 |
| - |
| - |
| - |
| - |
| - |
| - |
| 0.95 |
| -3.0% |
| 11.74 |
| Energy Fuels Inc. | UUUU | $4.3B | -50.68 | 6.40 | -12.6% | -51.72 |
| Scorpio Tankers Inc. | STNG | $3.7B | 10.85 | 1.17 | 10.8% | 6.09 |
| Excelerate Energy, Inc. | EE | $3.7B | 94.08 | 5.40 | 5.7% | 11.02 |
| Centrus Energy Corp. | LEU | $3.7B | 47.21 | 4.80 | 10.2% | 26.69 |
| Peer Median | - | 29.03 | 2.43 | 4.7% | 9.89 | |