Loading…
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% | - |
| 2024 | $1.4B | $516M | $-90M | $275M | -2.2% | -4.5% | -105.3% |
| 2023 | $1.5B | $2.8B | $1.7B | $135M | 39.5% | -61.6% | - |
| 2022 | $3.9B | $377M | $-142M | $669M | -4.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3,924.99 | 1,506.30 | 1,439.19 | 2,142.47 |
| Cost Of Revenue | 1,127.88 | 976.72 | 1,025.42 | 1,130.48 |
| Gross Profit | 2,797.11 | 529.57 | 413.77 | 1,011.99 |
| Operating Expense | 193.76 | 215.39 | 244.45 | 224.52 |
| Operating Income | 2,603.34 | 314.19 | 169.32 | 787.48 |
| EBITDA | 376.96 | 2,799.79 | 515.99 | 1,547.65 |
| EBIT | -84.26 | 2,366.20 | 30.23 | 973.53 |
| Pretax Income | -211.95 | 2,222.93 | -120.36 | 802.94 |
| Tax Provision | -69.87 | 502.21 | -29.87 | 169.78 |
| Net Income | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Net Income Common Stockholders | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Total Expenses | 1,321.64 | 1,192.11 | 1,269.87 | 1,355 |
| Interest Expense | 127.69 | 143.28 | 150.59 | 170.59 |
| Interest Income | 0 | 0 | 2 | 1 |
| Selling General And Administration | 121.70 | 125.34 | 158 | 151 |
| Normalized EBITDA | 3,054.70 | 738.76 | 649.72 | 1,353.66 |
| Normalized Income | 1,652.01 | 125.48 | 10.07 | 480.11 |
| Basic EPS | -0.75 | 10.74 | -0.60 | 4.48 |
| Diluted EPS | -0.75 | 9.12 | -0.60 | 3.98 |
| Tax Effect Of Unusual Items | -883.66 | 465.79 | -33.17 | 40.93 |
| Tax Rate For Calcs | 0.33 | 0.23 | 0.25 | 0.21 |
| 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 |
| Net Income From Continuing Operation Net Minority Interest | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Reconciled Depreciation | 461.21 | 433.59 | 485.75 | 574.11 |
| Reconciled Cost Of Revenue | 1,127.88 | 976.72 | 1,025.42 | 1,130.48 |
| Net Interest Income | -127.69 | -143.28 | -159.59 | -179.59 |
| Net Income From Continuing And Discontinued Operation | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Rent Expense Supplemental | 0 | 0 | 3 | 3 |
| Diluted Average Shares | 189.51 | 192.01 | 151.31 | 160.35 |
| Basic Average Shares | 189.51 | 162.49 | 151.31 | 141.45 |
| Diluted NI Availto Com Stockholders | -142.08 | 1,726.47 | -90.49 | 638.94 |
| Average Dilution Earnings | 0 | 5.76 | 0 | 5.78 |
| Minority Interests | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Net Income Continuous Operations | -142.08 | 1,720.72 | -90.49 | 633.16 |
| Other Income Expense | -2,687.60 | 2,052.02 | -130.73 | 194.99 |
| Other Non Operating Income Expenses | -9.86 | -9.01 | 3 | 1 |
| Special Income Charges | -13.97 | 132.37 | 38.67 | 97.33 |
| Gain On Sale Of Ppe | 8.98 | 132.37 | 24.71 | 97.17 |
| Other Special Charges | 22.95 | 0 | -13.96 | -0.16 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | -2,663.78 | 1,928.65 | -172.41 | 96.66 |
| Net Non Operating Interest Income Expense | -127.69 | -143.28 | -159.59 | -179.59 |
| Total Other Finance Cost | 0 | 0 | 11 | 10 |
| Interest Expense Non Operating | 127.69 | 143.28 | 150.59 | 170.59 |
| Interest Income Non Operating | 0 | 0 | 2 | 1 |
| Other Operating Expenses | 72.06 | 90.04 | 86.45 | 73.52 |
| Selling And Marketing Expense | 0 | 0 | 5 | 6 |
| General And Administrative Expense | 121.70 | 0 | 153 | 145 |
| Other Gand A | 121.70 | 0 | 73 | 66 |
| Insurance And Claims | 0 | 0 | 4 | 4 |
| Rent And Landing Fees | 0 | 0 | 3 | 3 |
| Salaries And Wages | 0 | 0 | 73 | 72 |
| Operating Revenue | 3,837.66 | 1,376.44 | 1,245.54 | 1,959.08 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CNX Resources Corporationthis co. | CNX | $5.6B | 9.88↓ discount | 1.29 | 14.6% | 5.61 |
| Solaris Energy Infrastructure, Inc. | SEI | $6.6B | 84.76 | 6.70 | 3.6% | 18.57 |
| Uranium Energy Corp. | UEC | $6.6B | - | 4.64 | -8.9% | -58.64 |
| Excelerate Energy, Inc. | EE | $6.6B | 26.16 | 1.57 | 1.8% | 8.49 |
| Murphy Oil Corporation | MUR |
| $6.0B |
| 58.10 |
| 1.17 |
| 2.0% |
| 5.50 |
| Golar LNG Limited | GLNG | $5.5B | 89.88 | 2.96 | 3.2% | 49.03 |
| PBF Energy Inc. | PBF | $5.1B | - | 0.95 | -2.9% | -16.57 |
| Energy Fuels Inc. | UUUU | $4.9B | - | 6.94 | -12.5% | -49.20 |
| Scorpio Tankers Inc. | STNG | $4.1B | 11.53 | 1.19 | 10.8% | 8.15 |
| Peer Median | - | 58.10 | 2.27 | 1.9% | 6.82 | |