| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 65 | 48.3x | 17.8x | Around median | |
Growth | 64 | 28.7% | 7.1% | Around median | |
Quality | 38 | 3.5% | 4.5% | Bottom tier | |
Safety | 62 | — | 2.6x | Around median | |
Capital Return | 24 | 0.41% | 2.12% | Bottom tier | |
Momentum | 68 | 17.9% | 2.9% | Top tier | |
Sentiment | 47 | 4 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Core Natural Resources produces and markets coal through three main segments: high-heat-value thermal coal, metallurgical coal used in steelmaking, and Powder River Basin coal. It also operates Core Marine Terminal for coal shipments and, through Core Innovations, is developing a smaller business in high-performance materials, tooling, parts, and assemblies for the aerospace and defense sectors. During fiscal Q1 2026, coal sales totaled 7.7 million tons in the high-heat-value thermal segment, 2.1 million tons of metallurgical coal in the metallurgical segment, and 11.9 million tons in the PRB segment, while the marine terminal shipped 4.8 million tons.
In fiscal Q1 2026, the company reported revenue of $1.1 billion and net income of $21 million, equivalent to diluted earnings per share of $0.41 and an approximate net margin of 1.9%. Adjusted EBITDA was $180 million, compared with $103 million and a net loss of $79 million in fiscal Q4 2025. The improvement came primarily from the metallurgical coal platform, which generated $58 million of adjusted EBITDA, up $79 million from the prior quarter, after cash costs declined to $92.35 per ton and realized metallurgical coal revenue rose 7% to $122.11 per ton.
The quarterly turnaround still needs to prove sustainable; the company ended fiscal 2025 with revenue of $4.2 billion and a net loss of $153.2 million, while the loss for the twelve-month period ended fiscal Q1 2026 was approximately $62.9 million. During fiscal Q1 2026, the company spent $73 million on capital expenditures and generated $56 million of free cash flow, despite a $52 million negative impact from changes in working capital. Period-end liquidity was $935 million, including $413 million in cash and cash equivalents.
Automated analysis for informational purposes only — not investment advice.
Analyst consensus rates the stock a “Buy” with an average target of $105, with the high and low targets both identical at that figure; this places the target approximately 8.5% below the 52-week range high of $114.80 and approximately 49% above its low of $70.36. A positive price-to-earnings multiple does not provide an appropriate valuation anchor following the $62.9 million loss during the twelve-month period ended fiscal Q1 2026, so the justification for the target is tied to the sustainability of the operating recovery, contracts, and merger synergies, while the wide 52-week range reflects coal-price volatility and the transition from fiscal 2025 losses to a quarterly profit.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Adjusted EBITDA increased to $180 million from $103 million in fiscal Q4 2025, while the $79 million net loss turned into net income of $21 million. The metallurgical coal segment was the most significant driver, generating $58 million of adjusted EBITDA, up $79 million from the prior quarter. Leer South operating for a full quarter helped reduce metallurgical cash costs to $92.35 per ton, alongside an increase in realized metallurgical coal revenue to $122.11 per ton.
The high-heat-value thermal coal segment had contracts for 29.1 million tons, including 23.4 million tons from PMC and 5.7 million tons from West Elk. This represents 94% of the midpoint of the segment's volume guidance, with expected average revenue of $57.85 per ton for committed and price-collar contract volumes. The metallurgical segment also had contracts for 8.3 million tons of metallurgical coal, including approximately 3.8 million tons priced at an expected average of $122.40 per ton, while the PRB contracted position was approximately 48 million tons at an expected average of $14.20 per ton.
Cash costs for high-heat-value thermal coal rose to $42.56 per ton in fiscal Q1 2026 due to the cold snap, electricity prices, and sandstone conditions at the Pennsylvania complex. The company estimated that each $1 per megawatt-hour change in electricity prices has an impact of approximately $750 thousand, with PJM West prices exceeding $100 in January 2026 before declining to less than $50 at the time of the May 7, 2026 call. In PRB, higher diesel prices could create additional pressure after the spread between realized revenue and cash costs was only approximately $0.75 per ton in fiscal Q1 2026.
The capital allocation framework targets returning approximately 75% of free cash flow to shareholders, with the largest portion directed toward share repurchases. In fiscal Q1 2026, the company returned $47 million, equivalent to 85% of free cash flow, including $42 million for repurchases and $5 million for dividends. Since the program launched in February 2025, total capital returned has reached $292 million, including $266 million used to repurchase approximately 7% of the shares outstanding at the start of the program.
In the early part of fiscal 2026, Core Innovations completed a 30% expansion of its manufacturing facility in Triadelphia, West Virginia. It also paid $8 million to acquire Sawyer Composite in Fort Worth, Texas, with the aim of expanding its aerospace supply-chain capabilities. Following these steps, the business now has 75 thousand square feet of manufacturing space, 80 employees, and serves more than 40 customers in the aerospace and defense sectors.
Fiscal Q1 2026 generated net income of $21 million and diluted earnings per share of $0.41, but the twelve-month period ended in that quarter remained loss-making by $62.9 million. Fiscal 2025 also recorded a net loss of $153.2 million, showing that the quarterly recovery has not yet developed into an extended record of profitability. Sustainability will depend on metallurgical and thermal coal prices, improvements in electricity and diesel costs, and the execution of contracts and volumes without significant operational or logistics disruptions.
