| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 92 | 5.7x | 17.8x | Top tier | |
Growth | 97 | 47.3% | 7.1% | Top tier | |
Quality | 84 | 11.2% | 4.5% | Top tier | |
Safety | 72 | 1.2x | 2.6x | Top tier | |
Capital Return | 91 | — | 2.12% | Top tier | |
Momentum | 52 | 23.7% | 2.9% | Around median | |
Sentiment | 76 | 7 | 3 | Top tier |
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.
CNX Resources Corporation explores, develops, and produces natural gas resources in the Appalachia region, with field operations spanning the Marcellus and Utica formations. The core business relies on gas production, while the company adds cash flows from environmental attributes and the 45Z credit associated with its methane stream; these credits are recognized for accounting purposes within income tax expense and are not included in earnings before interest, taxes, depreciation, and amortization. During fiscal Q2 2026, drilling was limited to two wells in the Utica in line with the activity plan, while the company continued to improve drilling efficiency and maintained its estimated Utica well cost at approximately $1.7 thousand per foot.
CNX recorded fiscal Q2 2026 revenue of $618.5 million, net income of $202.9 million, and earnings per share of $1.32. Compared with fiscal Q1 2026, revenue declined by approximately 21% from $786.7 million, and net income fell by approximately 42% from $348.1 million, although earnings exceeded analysts’ estimates by 26.3%. Gross profit was not disclosed, but the company achieved a 59% cash operating margin through cost control despite lower gas prices and a year-over-year decline in total production volumes.
Fiscal 2025 revenue was approximately $2.2 billion, with net income of $633.2 million and earnings per share of $3.98. The latest trailing-twelve-month data ending in fiscal 2026 indicate revenue of $2.6 billion, net income of $949.4 million, and earnings per share of approximately $6.17. The operating mix includes Marcellus and Utica development, alongside income from environmental attributes and the 45Z credit, which management expects to raise combined annual cash flows from the two sources to approximately $90 million in fiscal 2027.
Automated analysis for informational purposes only — not investment advice.
Analyst consensus on CNX is Neutral, with an average price target of $37, a high of $42, and a low of $34. The average target is below the 52-week range high of $43.62, and even the highest target remains below that high, consistent with analysts’ caution toward weak gas prices and declining production and quarterly revenue despite the strong cash operating margin and potential 45Z cash flows. The context does not include a valid price-to-earnings ratio that could be used as an additional valuation anchor.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
CNX achieved a 59% cash operating margin in fiscal Q2 2026 through cost discipline. Net income reached $202.9 million, or $1.32 per share, while exceeding analysts’ expectations by 26.3%. This came despite lower natural gas prices and a year-over-year decline in total production volumes, making the sustainability of cost control a central factor in monitoring the stock.
Management said on July 30, 2026, that adjustments to the carbon intensity calculation increased the expected annual monetization value of the 45Z credit to approximately $40 million. By combining 45Z with environmental attributes, the company is targeting a cash flow run rate of approximately $90 million annually in fiscal 2027. CNX also sold $30 million of credits in July 2026, and their cash impact is expected to appear in fiscal Q3 2026 within the income tax line.
CNX intends to bring a large Marcellus pad with 12 to 13 wells online in fiscal Q3 2026. Under management’s plan, a Utica pad under development is scheduled to come online in fiscal Q4 2026. Management explained that this distribution reflects the timing of field activity, not an artificial attempt to manage production based on winter prices.
Management stated during the July 30, 2026, call that the Utica wells were performing in line with stated expectations and described their results as high quality within the basin. Drilling in fiscal Q2 2026 was limited to two Utica wells in line with the plan. The company also maintained its estimated well cost near $1.7 thousand per foot, while noting continued improvements in drilling speed and efficiency.
CNX’s revenue declined from $786.7 million in fiscal Q1 2026 to $618.5 million in Q2, while net income fell from $348.1 million to $202.9 million. The company also faced lower gas prices and a year-over-year decline in total production, and described the gas environment between fiscal 2026 and fiscal 2027 as relatively weak. In addition, part of the targeted cash flows depends on 45Z rules and volatile environmental attribute prices.
The consensus rating is Neutral, with an average price target of $37 within a range of $34 to $42. Both the average and highest target are below the 52-week range high of $43.62, while the low end of that range is $28.7. This valuation reflects a balance between the 59% cash operating margin and potential 45Z cash flows on one hand, and weak gas prices and declining revenue and production on the other.
