CNX CNX Resources Corp

Overview and Growth

In fiscal 2025, CNX Resources Corp recorded $2.24B of revenue, net income of $633.16M, and an operating cash inflow of $1.03B. Revenue of $2.24B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 76.8% above fiscal 2024 revenue of $1.27B, marking a year-over-year increase. On a per-share basis, diluted EPS was $3.98, which connects the reported earnings outcome with the company’s diluted share count. A diluted share base of 160.35M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. At period end, total assets were $9.09B, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.25x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Net income came to $633.16M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 28.3% margin after operating costs and the remaining recognized items. The reported income-tax provision was $169.78M, the amount recognized between pretax income and the final net-income result. Net income equaled 14.6% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 7.0% of period-end assets, placing the company’s bottom-line result against the total resource base employed. The bottom line improved from a $90.49M loss in fiscal 2024 to $633.16M of income.

Liquidity and Capital Structure

The company held $9.09B of assets against $4.76B of liabilities and $4.34B of equity, revealing how the asset base was financed. The near-term balance sheet paired $490.34M of current assets with $1.12B of current liabilities at the reporting date. At 0.44x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Cash and equivalents totaled $779.00K, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 0.1%, excluding receivables and other current assets. Total debt was $2.42B, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 0.56x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 26.6%, showing how much of the asset base was matched by borrowing. Book equity represented 47.7% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 52.3% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 0.0% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $8.51B in fiscal 2024, the current asset base moved 6.8% and finished higher. Against $4.10B of equity in fiscal 2024, the current book-equity balance moved 5.8% and ended higher. Cash and equivalents were 95.5% lower than fiscal 2024 cash of $17.20M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported $1.03B of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.63x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $494.99M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 48.1% of operating cash flow, leaving the remainder available as free cash flow. Free cash flow came to $533.97M, leaving a positive amount after capital expenditures. The free-cash-flow margin was 23.8%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 5.9% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.