CNX Resources (CNX) financial statements
CNX Resources reported revenue of $2.2B in fiscal 2025, up 12.8% a year over 9 years.
Net income was $633M and the operating margin 35.9%, against -77.0% in 2016.
Free cash flow was $534M, and the company returned $524M in net buybacks.
The diluted share count fell 30% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CNX Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $760M | $1.5B | $1.7B | $1.9B | $1.3B | $757M | $1.3B | $3.4B | $1.3B | $2.2B |
| Selling, general and admin | $38M | — | — | — | — | — | — | — | — | — |
| Operating income | -$585M | $119M | $1.1B | $60M | -$603M | -$637M | -$212M | $2.2B | -$120M | $803M |
| Interest expense | $182M | $161M | $146M | $151M | $171M | $151M | $128M | $143M | $151M | $171M |
| Pre-tax income | -$585M | $119M | $1.1B | $60M | -$603M | -$637M | -$212M | $2.2B | -$120M | $803M |
| Income tax | -$34M | -$176M | $216M | $28M | -$174M | -$138M | -$70M | $502M | -$30M | $170M |
| Net income | -$848M | $381M | $797M | -$81M | -$484M | -$499M | -$142M | $1.7B | -$90M | $633M |
| EPS (diluted) | -$3.70 | $1.65 | $3.71 | -$0.42 | -$2.43 | -$2.31 | -$0.75 | $8.99 | -$0.60 | $3.98 |
| Diluted shares | 229M | 231M | 215M | 191M | 199M | 216M | 190M | 192M | 151M | 160M |
| Operating margin | -77.0% | 8.1% | 63.5% | 3.1% | -47.9% | -84.1% | -16.8% | 64.7% | -9.5% | 35.9% |
| Net margin | -111.6% | 26.2% | 46.0% | -4.2% | -38.5% | -65.9% | -11.3% | 50.1% | -7.1% | 28.3% |
Balance sheet
Fiscal years, from CNX Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $46M | $509M | $17M | $16M | $16M | $4M | $21M | $443,000 | $17M | $779,000 |
| Receivables | $125M | $157M | $252M | $133M | $146M | $330M | $348M | $116M | $180M | $265M |
| Inventory | $15M | $11M | $10M | $7M | $10M | $6M | $27M | $20M | $15M | $26M |
| Total current assets | $626M | $853M | $502M | $498M | $273M | $460M | $574M | $422M | $371M | $490M |
| Property, plant and equipment | $8.1B | $5.8B | $6.9B | $7.1B | $7.0B | $7.0B | $7.1B | $7.3B | $7.4B | $7.9B |
| Goodwill | — | $0 | $796M | $796M | $323M | $323M | $323M | $323M | $323M | $323M |
| Total assets | $9.2B | $6.9B | $8.6B | $9.1B | $8.0B | $8.1B | $8.5B | $8.6B | $8.5B | $9.1B |
| Total current liabilities | $940M | $442M | $523M | $529M | $441M | $955M | $1.3B | $823M | $1.1B | $1.1B |
| Long-term debt | $2.4B | $2.2B | $2.4B | $2.8B | $2.4B | $2.2B | $2.2B | $1.9B | $1.8B | $2.2B |
| Total liabilities | $5.2B | $3.0B | $3.5B | $4.1B | $3.6B | $4.4B | $5.6B | $4.3B | $4.4B | $4.8B |
| Shareholders' equity | $3.8B | $3.9B | $4.3B | $4.2B | $4.4B | $3.7B | $3.0B | $4.4B | $4.1B | $4.3B |
| Net debt | $2.4B | $1.7B | $2.4B | $2.7B | $2.4B | $2.2B | $2.2B | $2.2B | $2.1B | $2.4B |
Cash flow
Fiscal years, from CNX Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $464M | $649M | $886M | $981M | $795M | $926M | $1.2B | $815M | $816M | $1.0B |
| Capital spending | $173M | $633M | $1.1B | $1.2B | $487M | $466M | $566M | $679M | $540M | $495M |
| Free cash flow | $292M | $16M | -$231M | -$212M | $308M | $460M | $669M | $135M | $275M | $534M |
| Stock-based compensation | $19M | $17M | $21M | $38M | $14M | $17M | $16M | $20M | $20M | $24M |
| Dividends paid | $2M | $0 | $0 | — | — | — | — | — | — | — |
| Share buybacks (net) | $0 | -$103M | -$382M | -$117M | -$37M | -$245M | -$565M | -$320M | -$184M | -$524M |
| Net borrowing | -$952M | $0 | $394M | — | — | — | — | — | — | — |
| Free cash flow margin | 38.4% | 1.1% | -13.3% | -11.0% | 24.5% | 60.8% | 53.1% | 3.9% | 21.7% | 23.8% |
| Dividends per share | $0.01 | — | — | — | — | — | — | — | — | — |
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Open CNX in InvestinglyQuestions
What was CNX Resources's revenue in 2025?
$2.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does CNX Resources generate?
$534M in fiscal 2025 (operating cash flow minus capital spending).
From CNX Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.