CNX Resources CNX
United StatesEnergy · Oil & Gas E&PUSD
37.55 USD (+10.8%)
11 analysts
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CNX Resources is an independent natural gas exploration and production (E&P) company in the Appalachian Basin (US), extracting and selling gas and associated liquids to wholesale markets.
Key points
from its scores- ✓Attractive valuation8.8
- ✓Favourable backdrop7.2
- ✓High-quality business7.1
- ✕Weak growth0.0
- ✕Little or no dividend1.4
AI analysis
bottom line, main risk, context and newsThe valuation is cheap but the business is at a low point in the gas cycle, with no clear near-term catalysts.
CNX Resources trades at very attractive valuations (P/E 5.48, EV/EBITDA 4.04, P/B 1.04) and maintains a 62.9% operating margin and 21.3% ROE, but the sharp decline in revenue (-18.1%) and earnings (-47.7%) reflects a weak natural gas price environment that weighs on its growth and momentum score (3.93).
The main risk is exposure to Henry Hub natural gas prices: a prolonged price decline could continue to erode revenue and earnings, despite a solid cost structure.
Context and risks
CNX Resources is a natural gas producer in the Appalachians (US), with revenue and costs in dollars, so the rise in rates and dollar strength do not alter its competitiveness. Its net debt is moderate (1.3x EBITDA) and its 62.9% operating margin protects it from crude volatility. The main risk is exposure to Henry Hub natural gas prices, which have fallen 18% in revenue and 47.7% in earnings, reflecting a weak price environment that could persist.
Is CNX Resources stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 57% below the Energy median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 5.5 | 15.7 | −65% |
| EV / EBITDA | 4.0 | 8.0 | −50% |
| Price / book | 1.0 | 2.2 | −53% |
| Price / sales | 2.3 | 1.9 | +22% |
Sector: median of the 102 Energy companies analysed. In bold, the multiples used for the comparison.
Valuation score: 8.8 out of 10 (median for Energy: 5.9).
Average analyst target: 37.55 USD, +10.8% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 6.9 (sector 6.8), Growth 0.0 (sector 7.2).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Energy medianValuation
- P/E
- 5.5
- Forward P/E
- 8.9
- EV / EBITDA
- 4.0
- Price / book
- 1.0
- Price / sales
- 2.3
- PEG
- 1.93
- Market cap
- 5.0B USD
- Enterprise value
- 7.4B USD
Profitability
- ROE
- 21.2%
- ROA
- 8.7%
- ROIC (approx.)
- 18.7%
- Gross margin
- 73.6%
- Operating margin
- 62.9%
- Net margin
- 44.4%
- Free cash flow
- 437.1M USD
- FCF yield
- 8.7%
- Cash conversion
- 24%
Solvency
- Total debt
- 2.4B USD
- Net debt
- 2.4B USD
- Cash
- 6.2M USD
- EBITDA
- 1.8B USD
- Net debt / EBITDA
- 1.30
- Debt / equity
- 49.14
- Current ratio
- 0.72
- Quick ratio
- 0.30
Growth
- Revenue growth
- −18.1%
- Earnings growth
- −47.7%
- EPS (TTM)
- 6.18 USD
- EPS (forward)
- 3.81 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 0.69
- Analyst consensus
- Hold (11)
- Target price
- 37.55 USD
- 52-week range
- 30.78 – 43.62
Recent news
All CNX news →Compare it with its sector
All 102 in Energy →Frequently asked questions about CNX Resources
Is CNX Resources stock cheap or expensive?
On P/E and EV / EBITDA, it trades 57% below the Energy median on average. Valuation score: 8.8 out of 10 (median for Energy: 5.9). Average analyst target: 37.55 USD, +10.8% versus the price. This is not investment advice.
What score does CNX Resources get on MeridIAn Screener?
It scores 6.1 out of 10, rank 881 of 2,130 (better than 55% of the companies analysed). Its strongest category is Valuation (8.8) and its weakest, Growth (0.0). Analysis of 08/10/2026.
What is CNX Resources's P/E ratio?
Its P/E is 5.5: the share price equals 5.5 times earnings per share over the last 12 months. The Energy median is 15.7. Based on the earnings analysts expect, the forward P/E is 8.9.
How much is CNX Resources worth on the stock market?
Its market capitalisation is 5.0B USD and its enterprise value, debt included, is 7.4B USD.
How much debt does CNX Resources have?
Its net debt (debt minus cash) is 2.4B USD. That is 1.30 times its EBITDA; the Energy median is 1.23.
Does CNX Resources pay a dividend?
It pays no dividend, or almost none.
How has CNX Resources stock performed over the last year?
It has risen 5.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 30.78 and 43.62 USD. Past performance does not guarantee future results.
What do analysts think of CNX Resources?
11 analysts cover it; their average recommendation is “Hold” and their average target is 37.55 USD (+10.8% versus the price). It is an estimate, not market data.