Forensic Analysis · Energy / Oil & Gas · as of Aug 11, 2026

Cnx Resources Corp (CNX)

A forensic read on Cnx Resources Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Clean

Earnings quality

Forensic signals

5.5

P / E (ttm)

14.6%

ROE

$5.3B

Market cap

76.8%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Cnx Resources Corp earns a D (Weak — demands caution) forensic quality grade. 3 forensic signals were flagged in its latest SEC filings, led by dividend — suspended.

What the filings flag

suspended

FY2016→FY2018

Dividend — suspended. The dividend has been SUSPENDED — $2M paid in FY2016, then $0 in FY2018. A suspension is a major signal the board is conserving cash; the prior payment history doesn't offset it.

98% of FCF

FY2025

Shareholder returns. Returned $524M to shareholders (buybacks + dividends) in FY2025 — 98% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 84% of free cash flow a few years back — not just sitting there. Counting the $24M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 102%.

$473M

FY2020–FY2020

Goodwill impairments. Took $473M of goodwill writedowns across 1 year (FY2020 ($473M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$2.24B

Revenue Growth YoY+76.8%

Revenue CAGR (3yr)+21.1%

Net Margin28.3%

Free Cash Flow$534.0M

Return on Equity14.6%

Debt / Equity0.56x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.