CNR Stock Analysis: Core Natural Resources | NYSE
Thermal Coal | NYSE, USA | Market Cap: 4.838m USD | 12M Return: 18.5% | US2189371006 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 44.3M
Qual. Beats: 0
Rev. Trend: 85.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 8.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Core Natural Resources, Inc. (NYSE: CNR) is a U.S.-based coal producer that mines, sells, and exports both metallurgical and thermal coal, with operations spanning Pennsylvania, West Virginia, Colorado, and Wyoming, plus a coal export terminal at the Port of Baltimore. The company is organized into four segments-High CV Thermal (Pennsylvania Mining Complex and West Elk mine), Metallurgical (Leer, Leer South, Beckley, Mountain Laurel, and Itmann mines), Powder River Basin (Black Thunder and Coal Creek), and Core Marine Terminal-and was formerly known as CONSOL Energy Inc. before rebranding in January 2025. Founded in 1864 and headquartered in Canonsburg, Pennsylvania, CNR is among the most diversified operators in the U.S. coal sector, with exposure to both domestic power-generation markets and international steelmaking customers.
Industry context: Metallurgical (coking) coal is a key input for steel production in blast furnaces, making it sensitive to global steel demand, while thermal coal is primarily burned for electricity generation. The Powder River Basin in Wyoming is the largest coal-producing region in the United States by volume, and its low-cost, low-sulfur output is predominantly used for power generation. Coal producers like CNR are classified within the broader energy and materials complex, with revenue typically tied to commodity price swings, export flows, and the long-term energy transition.
- Metallurgical coal pricing swings with global steel demand
- Thermal coal export volumes through Baltimore terminal expand margins
- PRB coal demand pressured by low natural gas prices
| Net Income: 100.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 1.86 > 1.0 |
| NWC/Revenue: 14.56% < 20% (prev 29.59%; Δ -15.03% < -1%) |
| CFO/TA 0.09 > 3% & CFO 565.1m > Net Income 100.1m |
| Net Debt (11.3m) to EBITDA (721.0m): 0.02 < 3 |
| Current Ratio: 1.83 > 1.5 & < 3 |
| Outstanding Shares: last quarter (50.5m) vs 12m ago -3.65% < -2% |
| Gross Margin: 2.27% > 18% (prev 28.26%; Δ -25.99% > 0.5%) |
| Asset Turnover: 66.69% > 50% (prev 48.46%; Δ 18.23% > 0%) |
| Interest Coverage Ratio: 1.73 > 6 (EBIT TTM 77.7m / Interest Expense TTM 44.9m) |
| A: 0.10 (Total Current Assets 1.37b - Total Current Liabilities 753.0m) / Total Assets 6.12b |
| B: 0.14 (Retained Earnings 871.6m / Total Assets 6.12b) |
| C: 0.01 (EBIT TTM 77.7m / Avg Total Assets 6.40b) |
| D: 1.55 (Book Value of Equity 3.72b / Total Liabilities 2.40b) |
| Altman-Z'' = 2.84 = A |
| DSRI: 0.99 (Receivables 440.5m/337.8m, Revenue 4.27b/3.24b) |
| GMI: 12.46 (GM 28.26% / 2.27%) |
| AQI: 0.13 (AQ_t 0.06 / AQ_t-1 0.52) |
| SGI: 1.32 (Revenue 4.27b / 3.24b) |
| TATA: -0.08 (NI 100.1m - CFO 565.1m) / TA 6.12b) |
| Beneish M = 7.05 (Cap -4..+1) = D |
As of September 21, 2026, the stock is trading at USD 91.08 with a total of 1,407,102 shares traded. Over the past week, the price has changed by -6.56%, over one month by -0.93%, over three months by +9.09% and over the past year by +18.52%.
Current recommended Stop Loss: 82.10 (which is 9.9% or 2.8 ATR below the current price).
Core Natural Resources has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy CNR.
- StrongBuy: 3
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 109.5 | 20.2% |
P/E Trailing = 48.9799
P/E Forward = 9.6154
P/S = 1.133
P/B = 1.315
P/EG = 0.3486
Revenue TTM = 4.27b USD
EBIT TTM = 77.7m USD
EBITDA TTM = 721.0m USD
Long Term Debt = 405.2m USD (from longTermDebt, last quarter)
Short Term Debt = 42.5m USD (from shortTermDebt, last quarter)
Debt = 484.5m USD (from shortLongTermDebtTotal, last quarter) + Leases 36.9m
Net Debt = 11.3m USD (calculated: Debt 484.5m - CCE 473.2m)
Enterprise Value = 4.85b USD (4.84b + Debt 484.5m - CCE 473.2m)
Interest Coverage Ratio = 1.73 (Ebit TTM 77.7m / Interest Expense TTM 44.9m)
EV/FCF = 18.69x (Enterprise Value 4.85b / FCF TTM 259.5m)
FCF Yield = 5.35% (FCF TTM 259.5m / Enterprise Value 4.85b)
FCF Margin = 6.08% (FCF TTM 259.5m / Revenue TTM 4.27b)
Net Margin = 2.34% (Net Income TTM 100.1m / Revenue TTM 4.27b)
Gross Margin = 2.27% ((Revenue TTM 4.27b - Cost of Revenue TTM 4.17b) / Revenue TTM)
Gross Margin QoQ = 7.47% (prev 5.42%)
Tobins Q-Ratio = 0.79 (Enterprise Value 4.85b / Total Assets 6.12b)
Interest Expense / Debt = 9.26% (Interest Expense 44.9m / Debt 484.5m)
Taxrate = 11.54% (16.5m / 143.0m)
NOPAT = 68.7m (EBIT 77.7m * (1 - 11.54%))
Current Ratio = 1.83 (Total Current Assets 1.37b / Total Current Liabilities 753.0m)
Debt / Equity = 0.13 (Debt 484.5m / totalStockholderEquity, last quarter 3.72b)
Debt / EBITDA = 0.02 (Net Debt 11.3m / EBITDA 721.0m)
Debt / FCF = 0.04 (Net Debt 11.3m / FCF TTM 259.5m)
Total Stockholder Equity = 3.71b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.56% (Net Income 100.1m / Total Assets 6.12b)
RoE = 2.70% (Net Income TTM 100.1m / Total Stockholder Equity 3.71b)
RoCE = 1.89% (EBIT 77.7m / Capital Employed (Equity 3.71b + L.T.Debt 405.2m))
RoIC = 1.32% (NOPAT 68.7m / Invested Capital 5.20b)
WACC = 7.57% (E(4.84b)/V(5.32b) * Re(7.51%) + D(484.5m)/V(5.32b) * Rd(9.26%) * (1-Tc(0.12)))
Discount Rate = 7.51% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 85.25 | Cagr: 25.87%
[DCF] Terminal Value 77.97% ; FCFF base≈219.3m ; Y1≈251.4m ; Y5≈369.9m
[DCF] Fair Price = 111.9 (EV 5.57b - Net Debt 11.3m = Equity 5.56b / Shares 49.6m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.14 | # QB: 0
Revenue Correlation: 85.39 | Revenue CAGR: 29.54% | SUE: 0.33 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.94 | Chg30d=-35.34% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=5.09 | Chg30d=+86.03% | Revisions=+50% | GrowthEPS=+270.8% | GrowthRev=+8.1%
EPS next Year (2027-12-31): EPS=6.55 | Chg30d=-1.59% | Revisions=+0% | GrowthEPS=+28.7% | GrowthRev=+1.9%
[Analyst] Revisions Ratio: +25% (up=6, down=3)