CNR Stock Analysis: Core Natural Resources | NYSE
Thermal Coal | NYSE, USA | Market Cap: 4.185m USD | 12M Return: 5.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 44.7M
Qual. Beats: 0
Rev. Trend: 77.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 8.6 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: -62.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 2.57 > 1.0 |
| NWC/Revenue: 12.38% < 20% (prev 23.93%; Δ -11.55% < -1%) |
| CFO/TA 0.09 > 3% & CFO 534.8m > Net Income -62.9m |
| Net Debt (41.6m) to EBITDA (549.5m): 0.08 < 3 |
| Current Ratio: 1.70 > 1.5 & < 3 |
| Outstanding Shares: last quarter (51.1m) vs 12m ago 72.29% < -2% |
| Gross Margin: 0.76% > 18% (prev 37.55%; Δ -36.79% > 0.5%) |
| Asset Turnover: 68.76% > 50% (prev 42.03%; Δ 26.74% > 0%) |
| Interest Coverage Ratio: -2.22 > 6 (EBIT TTM -96.3m / Interest Expense TTM 43.3m) |
| A: 0.09 (Total Current Assets 1.27b - Total Current Liabilities 747.0m) / Total Assets 6.06b |
| B: 0.13 (Retained Earnings 800.7m / Total Assets 6.06b) |
| C: -0.02 (EBIT TTM -96.3m / Avg Total Assets 6.15b) |
| D: 1.52 (Book Value of Equity 3.66b / Total Liabilities 2.40b) |
| Altman-Z'' = 2.49 = A |
| DSRI: 0.59 (Receivables 407.0m/427.8m, Revenue 4.23b/2.63b) |
| GMI: 49.44 (GM 37.55% / 0.76%) |
| AQI: 1.06 (AQ_t 0.07 / AQ_t-1 0.06) |
| SGI: 1.61 (Revenue 4.23b / 2.63b) |
| TATA: -0.10 (NI -62.9m - CFO 534.8m) / TA 6.06b) |
| Beneish M = 40.99 (Cap -4..+1) = D |
As of July 23, 2026, the stock is trading at USD 87.48 with a total of 591,820 shares traded. Over the past week, the price has changed by +1.47%, over one month by +6.51%, over three months by -2.24% and over the past year by +5.05%.
Current recommended Stop Loss: 82.90 (which is 5.2% or 1.6 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 | 105.3 | 20.3% |
P/E Forward = 9.6154
P/S = 0.9889
P/B = 1.1444
P/EG = 0.3486
Revenue TTM = 4.23b USD
EBIT TTM = -96.3m USD
EBITDA TTM = 549.5m USD
Long Term Debt = 411.6m USD (from longTermDebt, last quarter)
Short Term Debt = 43.4m USD (from shortTermDebt, last quarter)
Debt = 491.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 36.9m
Net Debt = 41.6m USD (calculated: Debt 491.9m - CCE 450.4m)
Enterprise Value = 4.23b USD (4.18b + Debt 491.9m - CCE 450.4m)
Interest Coverage Ratio = -2.22 (Ebit TTM -96.3m / Interest Expense TTM 43.3m)
EV/FCF = 17.47x (Enterprise Value 4.23b / FCF TTM 241.9m)
FCF Yield = 5.72% (FCF TTM 241.9m / Enterprise Value 4.23b)
FCF Margin = 5.72% (FCF TTM 241.9m / Revenue TTM 4.23b)
Net Margin = -1.49% (Net Income TTM -62.9m / Revenue TTM 4.23b)
Gross Margin = 0.76% ((Revenue TTM 4.23b - Cost of Revenue TTM 4.20b) / Revenue TTM)
Gross Margin QoQ = 5.42% (prev -6.83%)
Tobins Q-Ratio = 0.70 (Enterprise Value 4.23b / Total Assets 6.06b)
Interest Expense / Debt = 8.80% (Interest Expense 43.3m / Debt 491.9m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -76.1m (EBIT -96.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.70 (Total Current Assets 1.27b / Total Current Liabilities 747.0m)
Debt / Equity = 0.13 (Debt 491.9m / totalStockholderEquity, last quarter 3.66b)
Debt / EBITDA = 0.08 (Net Debt 41.6m / EBITDA 549.5m)
Debt / FCF = 0.17 (Net Debt 41.6m / FCF TTM 241.9m)
Total Stockholder Equity = 2.79b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.02% (Net Income -62.9m / Total Assets 6.06b)
RoE = -2.26% (Net Income TTM -62.9m / Total Stockholder Equity 2.79b)
RoCE = -3.01% (EBIT -96.3m / Capital Employed (Equity 2.79b + L.T.Debt 411.6m))
RoIC = -1.48% (negative operating profit) (NOPAT -76.1m / Invested Capital 5.14b)
WACC = 7.75% (E(4.18b)/V(4.68b) * Re(7.84%) + D(491.9m)/V(4.68b) * Rd(8.80%) * (1-Tc(0.21)))
Discount Rate = 7.84% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 83.06 | Cagr: 24.65%
[DCF] Terminal Value 77.97% ; FCFF base≈180.7m ; Y1≈207.1m ; Y5≈304.8m
[DCF] Fair Price = 90.18 (EV 4.59b - Net Debt 41.6m = Equity 4.55b / Shares 50.4m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.10 | # QB: 0
Revenue Correlation: 77.94 | Revenue CAGR: 23.91% | SUE: 0.14 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.54 | Chg30d=+1.02% | Revisions=+25% | Analysts=3
EPS next Quarter (2026-09-30): EPS=1.45 | Chg30d=+4.44% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=2.86 | Chg30d=-24.08% | Revisions=+25% | GrowthEPS=+196.1% | GrowthRev=+6.2%
EPS next Year (2027-12-31): EPS=6.73 | Chg30d=-13.74% | Revisions=-40% | GrowthEPS=+135.2% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: +0% (up=3, down=3)