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CNX Resources Corporation ( CNX, the Company, or we, us, or our ) is a premier independent ultra-low carbon intensity natural gas development, production, midstream and technology company centered in the Appalachian Basin. The majority of our operations are centered on unconventional shale formations, primarily the Marcellus Shale and Utica Shale, in Pennsylvania, Ohio and West Virginia.
35.86% operating margin is above average. ROIC at 9.50%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue up 76.8% YoY with margins expanding 45.4pp.
Net debt of $2.60B represents 4.9x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$2.94B
▲ +76.8% YoY
Net Income (TTM)
$1.18B
▲ +799.7% YoY
Op. Margin
51.10%
▲ +45.4pp YoY
ROIC
16.95%
▲ +10.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$557M
▲ +93.9% YoY
Op. Cash Flow (TTM)
$1.09B
▲ +26.1% YoY
Net Debt
$2.53B
Cash & Equiv.
$4M
5Y CAGR: +12.2%
5Y CAGR: +11.6%
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