NYSE : CNR
Core Natural Resources, Inc. — Financial statements
Energy · Thermal Coal · United States
Last price 86.93 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 4.31B
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Financial statements
Core Natural Resources, Inc. (CNR) reported revenue of 4.27B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 4.27B | 4.16B | 2.16B | 2.51B | 2.28B | 1.26B |
| Other Revenue | 16.08M | 12.26M | ||||
| Revenue | 4.27B | 4.16B | 2.16B | 2.51B | 2.30B | 1.27B |
| Cost of Revenue | 3.55B | 3.54B | 1.43B | 1.38B | 1.13B | 849.11M |
| Gross Profit | 719.96M | 619.96M | 732.97M | 1.13B | 1.16B | 424.18M |
| Selling, General & Admin | 177.75M | 240.58M | 132.61M | 110.48M | 116.70M | 87.16M |
| Other Operating Expenses | -9.11M | -26.90M | -17.78M | -19.11M | 234.78M | 51.11M |
| Operating Expenses | 811.95M | 834.75M | 338.36M | 332.69M | 578.36M | 362.85M |
| Operating Income | -91.99M | -214.79M | 394.62M | 796.33M | 586.08M | 61.33M |
| Interest Expense | -44.89M | -40.12M | -22.19M | -29.32M | -52.64M | -63.34M |
| Interest & Investment Income | 22.43M | 25.89M | 19.22M | 13.60M | 6.03M | 3.29M |
| EBT Excluding Unusual Items | -114.44M | -229.02M | 391.65M | 780.60M | 539.47M | 1.27M |
| Gain (Loss) on Sale of Assets | 6.97M | 7.00M | 7.00M | 34.59M | 33.48M | |
| Legal Settlements | -68.00M | |||||
| Other Unusual Items | -11.68M | -2.73M | -5.62M | 657.00K | ||
| Pretax Income | 32.82M | -233.70M | 330.65M | 777.87M | 568.44M | 35.41M |
| Income Tax Expense | -67.31M | -80.49M | 44.24M | 121.98M | 101.46M | 1.30M |
| Earnings From Continuing Operations | 100.13M | -153.22M | 286.40M | 655.89M | 466.98M | 34.11M |
| Net Income | 100.13M | -153.22M | 286.40M | 655.89M | 466.98M | 34.11M |
| Net Income to Common | 100.13M | -153.22M | 286.40M | 655.89M | 466.98M | 34.11M |
| Shares Outstanding (Basic) | 51.08M | 51.39M | 29.68M | 32.94M | 34.81M | 34.40M |
| Shares Outstanding (Diluted) | 51.10M | 51.39M | 29.81M | 33.14M | 35.72M | 35.39M |
| EPS (Basic) | 1.96 | -2.98 | 9.65 | 19.91 | 13.41 | 0.99 |
| EPS (Diluted) | 1.96 | -2.98 | 9.61 | 19.79 | 13.07 | 0.96 |
| Free Cash Flow | 259.50M | 21.17M | 298.40M | 690.16M | 479.48M | 172.82M |
| Free Cash Flow Per Share | 5.08 | 0.41 | 10.01 | 20.82 | 13.42 | 4.88 |
| Dividend Per Share | 0.40 | 0.40 | 0.50 | 1.10 | 2.15 | |
| Gross Margin | 16.86% | 14.89% | 33.87% | 45.04% | 50.71% | 33.31% |
| Operating Margin | -2.15% | -5.16% | 18.23% | 31.77% | 25.52% | 4.82% |
| Profit Margin | 2.34% | -3.68% | 13.23% | 26.17% | 20.34% | 2.68% |
| Free Cash Flow Margin | 6.08% | 0.51% | 13.79% | 27.53% | 20.88% | 13.57% |
| EBITDA | 551.32M | 406.28M | 618.14M | 1.04B | 812.96M | 285.91M |
| EBITDA Margin | 12.91% | 9.75% | 28.56% | 41.40% | 35.41% | 22.45% |
| D&A For EBITDA | 643.30M | 621.07M | 223.53M | 241.32M | 226.88M | 224.58M |
| EBIT | -91.99M | -214.79M | 394.62M | 796.33M | 586.08M | 61.33M |
| EBIT Margin | -2.15% | -5.16% | 18.23% | 31.77% | 25.52% | 4.82% |
| Effective Tax Rate | 13.38% | 15.68% | 17.85% | 3.66% | ||
| Revenue as Reported | 2.10B | 1.26B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 473.20M | 432.17M | 408.24M | 199.37M | 273.07M | 149.91M |
| Short-Term Investments | 817.00K | 51.99M | 81.93M | |||
| Cash & Short-Term Investments | 474.02M | 432.17M | 460.23M | 281.30M | 273.07M | 149.91M |
| Accounts Receivable | 355.34M | 349.23M | 136.75M | 147.61M | 158.13M | 104.10M |
| Other Receivables | 85.19M | 53.93M | 25.90M | 12.77M | 38.52M | 6.76M |
| Receivables | 440.53M | 403.16M | 162.65M | 160.38M | 196.64M | 110.86M |
| Inventory | 381.19M | 374.76M | 96.20M | 88.15M | 66.29M | 62.88M |
| Prepaid Expenses | 25.22M | |||||
| Restricted Cash | 37.90M | 37.40M | 39.30M | 43.90M | 40.37M | 32.60M |
| Other Current Assets | 41.04M | 92.72M | 27.57M | 27.27M | 22.11M | 4.87M |
| Total Current Assets | 1.37B | 1.34B | 785.96M | 601.01M | 598.48M | 386.34M |
| Property, Plant & Equipment | 4.02B | 4.06B | 1.59B | 1.59B | 1.65B | 1.67B |
| Long-Term Deferred Tax Assets | 57.01M | |||||
| Other Long-Term Assets | 726.75M | 732.92M | 500.81M | 484.56M | 457.88M | 458.34M |
| Total Assets | 6.12B | 6.13B | 2.88B | 2.68B | 2.70B | 2.57B |
| Accounts Payable | 328.66M | 335.62M | 143.63M | 137.24M | 130.23M | 76.56M |
| Accrued Expenses | 191.10M | 196.59M | 130.79M | 156.71M | 131.87M | 122.71M |
| Current Portion of Long-Term Debt | 42.47M | 77.56M | 103.94M | 1.64M | 4.74M | 36.59M |
| Current Portion of Leases | 23.40M | 9.54M | 14.24M | 29.03M | 27.43M | |
| Current Income Taxes Payable | 42.27M | 53.04M | 6.97M | 10.55M | 8.47M | |
| Current Unearned Revenue | 966.00K | |||||
| Other Current Liabilities | 148.54M | 152.09M | 123.81M | 133.89M | 141.41M | 173.47M |
| Total Current Liabilities | 753.04M | 838.29M | 518.68M | 443.72M | 448.80M | 445.23M |
| Long-Term Debt | 277.67M | 317.27M | 79.52M | 181.88M | 342.11M | 568.05M |
| Long-Term Leases | 127.51M | 47.71M | 20.74M | 14.57M | 28.30M | 41.87M |
| Pension & Post-Retirement Benefits | 206.25M | 207.95M | 196.32M | 228.72M | 253.18M | 355.67M |
| Long-Term Deferred Tax Liabilities | 146.84M | 130.11M | 49.21M | 36.22M | 21.91M | |
| Other Long-Term Liabilities | 892.17M | 910.48M | 446.81M | 426.45M | 444.25M | 489.88M |
| Total Liabilities | 2.40B | 2.45B | 1.31B | 1.33B | 1.54B | 1.90B |
| Common Stock | 498.00K | 510.00K | 294.00K | 299.00K | 347.00K | 345.00K |
| Additional Paid-In Capital | 2.97B | 2.98B | 540.41M | 547.86M | 646.24M | 646.95M |
| Retained Earnings | 871.64M | 818.48M | 1.16B | 944.34M | 668.88M | 280.96M |
| Comprehensive Income & Other | -120.53M | -122.83M | -134.57M | -149.06M | -149.64M | -255.44M |
| Total Common Equity | 3.72B | 3.68B | 1.57B | 1.34B | 1.17B | 672.81M |
| Shareholders' Equity | 3.72B | 3.68B | 1.57B | 1.34B | 1.17B | 672.81M |
| Total Liabilities & Equity | 6.12B | 6.13B | 2.88B | 2.68B | 2.70B | 2.57B |
| Total Debt | 447.65M | 465.93M | 213.74M | 212.33M | 404.18M | 673.94M |
| Net Cash (Debt) | 26.37M | -33.76M | 246.50M | 68.98M | -131.11M | -524.02M |
| Net Cash Per Share | 0.52 | -0.66 | 8.27 | 2.08 | -3.67 | -14.81 |
| Filing Date Shares Outstanding | 49.64M | 50.98M | 54.02M | 29.60M | 34.75M | 34.48M |
| Total Common Shares Outstanding | 49.85M | 50.98M | 29.41M | 29.91M | 34.75M | 34.48M |
| Working Capital | 621.63M | 501.93M | 267.27M | 157.28M | 149.69M | -58.89M |
| Book Value Per Share | 74.60 | 72.16 | 53.33 | 44.92 | 33.55 | 19.51 |
| Tangible Book Value | 3.72B | 3.68B | 1.57B | 1.34B | 1.17B | 672.81M |
| Tangible Book Value Per Share | 74.60 | 72.16 | 53.33 | 44.92 | 33.55 | 19.51 |
| Machinery | 5.69B | 5.47B | 4.16B | 3.95B | 3.81B | 3.68B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 100.13M | -153.22M | 286.40M | 655.89M | 466.98M | 34.11M |
| Depreciation & Amortization | 643.30M | 621.07M | 223.53M | 241.32M | 226.88M | 224.58M |
| Other Amortization | 8.31M | 8.55M | ||||
| Loss (Gain) From Sale of Assets | -7.00M | -7.03M | -6.94M | -8.98M | -34.59M | -11.72M |
| Loss (Gain) on Equity Investments | 16.43M | 15.48M | 1.33M | 199.00K | ||
| Stock-Based Compensation | 9.53M | 32.92M | 11.35M | 10.05M | 7.89M | 6.63M |
| Other Operating Activities | -61.92M | -64.88M | 8.45M | 18.70M | 58.89M | -14.77M |
| Change in Accounts Receivable | -96.33M | -64.05M | -2.23M | 36.92M | -52.58M | 44.71M |
| Change in Inventory | -3.03M | 28.66M | -8.02M | -21.54M | -3.02M | -6.68M |
| Change in Accounts Payable | 42.68M | -24.27M | 4.57M | 11.45M | 39.23M | 11.47M |
| Change in Other Net Operating Assets | -78.70M | -78.93M | -42.04M | -86.05M | -67.01M | 8.68M |
| Operating Cash Flow | 565.08M | 305.75M | 476.39M | 857.95M | 650.99M | 305.57M |
| Capital Expenditures | -305.57M | -284.58M | -177.99M | -167.79M | -171.51M | -132.75M |
| Sale of Property, Plant & Equipment | 10.68M | 7.51M | 7.40M | 4.25M | 21.54M | 13.57M |
| Cash Acquisitions | 368.73M | |||||
| Investment in Securities | -16.21M | -38.59M | 34.02M | -78.21M | ||
| Other Investing Activities | -11.27M | -5.41M | -28.46M | -17.68M | 7.79M | -8.18M |
| Investing Cash Flow | -322.37M | 47.66M | -165.03M | -259.43M | -142.18M | -127.36M |
| Long-Term Debt Issued | 114.44M | 75.00M | ||||
| Long-Term Debt Repaid | -26.67M | -11.47M | -191.74M | -294.36M | -101.18M | |
| Net Debt Issued (Repaid) | -29.81M | 87.77M | -11.47M | -191.74M | -294.36M | -26.18M |
| Repurchase of Common Stock | -151.26M | -240.82M | -79.75M | -412.21M | -6.26M | -2.30M |
| Common Dividends Paid | -20.48M | -26.26M | -15.86M | -75.47M | -71.49M | |
| Other Financing Activities | -3.01M | -20.48M | -2.78M | -7.96M | -2.37M | |
| Financing Cash Flow | -204.56M | -199.79M | -107.08M | -682.20M | -380.07M | -30.85M |
| Net Cash Flow | 38.15M | 153.62M | 204.27M | -83.68M | 128.75M | 147.36M |
| Free Cash Flow | 259.50M | 21.17M | 298.40M | 690.16M | 479.48M | 172.82M |
| Free Cash Flow Margin | 6.08% | 0.51% | 13.79% | 27.53% | 20.88% | 13.57% |
| Free Cash Flow Per Share | 5.08 | 0.41 | 10.01 | 20.82 | 13.42 | 4.88 |
| Levered Free Cash Flow | 274.12M | -40.08M | 260.99M | 581.48M | 349.80M | 198.25M |
| Unlevered Free Cash Flow | 302.17M | -15.01M | 274.86M | 599.80M | 374.39M | 229.29M |
| Cash Interest Paid | 37.20M | 37.20M | 23.79M | 29.25M | 50.84M | 54.40M |
| Cash Income Tax Paid | 500.00K | 500.00K | 39.25M | 111.30M | 55.75M | 3.20M |
| Change in Working Capital | -135.39M | -138.59M | -47.73M | -59.22M | -83.37M | 58.19M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.18B | 4.54B | 3.14B | 3.12B | 2.27B | 783.04M |
| Enterprise Value | 4.16B | 4.51B | 2.92B | 3.09B | 2.47B | 1.33B |
| Last Close Price | 84.25 | 88.22 | 105.76 | 99.21 | 61.76 | 20.90 |
| PE Ratio | 42.98 | 10.95 | 4.75 | 4.85 | 22.96 | |
| Forward PE | 14.67 | 18.66 | 7.46 | 5.73 | 2.64 | 3.61 |
| PS Ratio | 0.98 | 1.09 | 1.45 | 1.24 | 0.99 | 0.61 |
| PB Ratio | 1.13 | 1.23 | 2.00 | 2.32 | 1.94 | 1.16 |
| P/TBV Ratio | 1.12 | 1.23 | 2.00 | 2.32 | 1.94 | 1.16 |
| P/FCF Ratio | 16.11 | 214.22 | 10.51 | 4.52 | 4.73 | 4.53 |
| P/OCF Ratio | 7.40 | 14.83 | 6.58 | 3.63 | 3.48 | 2.56 |
| EV/Sales Ratio | 0.97 | 1.08 | 1.35 | 1.23 | 1.08 | 1.04 |
| EV/EBITDA Ratio | 7.54 | 11.10 | 4.73 | 2.98 | 3.04 | 4.64 |
| EV/EBIT Ratio | 7.40 | 3.88 | 4.22 | 21.64 | ||
| EV/FCF Ratio | 16.01 | 212.97 | 9.79 | 4.48 | 5.16 | 7.68 |
| Debt / Equity Ratio | 0.12 | 0.13 | 0.14 | 0.16 | 0.35 | 1.00 |
| Debt / EBITDA Ratio | 0.81 | 1.14 | 0.34 | 0.20 | 0.48 | 2.17 |
| Debt / FCF Ratio | 1.73 | 22.01 | 0.72 | 0.31 | 0.84 | 3.90 |
| Net Debt / Equity Ratio | -0.01 | 0.01 | -0.16 | -0.05 | 0.11 | 0.78 |
| Net Debt / EBITDA Ratio | -0.05 | 0.08 | -0.40 | -0.07 | 0.16 | 1.83 |
| Net Debt / FCF Ratio | -0.10 | 1.59 | -0.83 | -0.10 | 0.27 | 3.03 |
| Asset Turnover | 0.69 | 0.93 | 0.78 | 0.93 | 0.87 | 0.50 |
| Inventory Turnover | 9.36 | 15.05 | 15.53 | 17.84 | 17.52 | 14.26 |
| Quick Ratio | 1.21 | 1.00 | 1.20 | 0.99 | 1.05 | 0.59 |
| Current Ratio | 1.82 | 1.60 | 1.51 | 1.35 | 1.33 | 0.87 |
| Return on Equity (ROE) | 2.67% | -5.84% | 19.67% | 52.28% | 50.80% | 5.56% |
| Return on Assets (ROA) | -0.93% | -2.98% | 8.88% | 18.50% | 13.88% | 1.50% |
| Return on Invested Capital (ROIC) | -2.49% | -8.53% | 26.33% | 52.23% | 38.61% | 4.90% |
| Return on Capital Employed (ROCE) | -1.70% | -4.10% | 16.70% | 35.70% | 26.00% | 2.90% |
| Earnings Yield | 2.33% | -3.38% | 9.13% | 21.04% | 20.60% | 4.36% |
| FCF Yield | 6.21% | 0.47% | 9.52% | 22.14% | 21.15% | 22.07% |
| Dividend Yield | 0.47% | 0.45% | 0.47% | 1.05% | 3.30% | |
| Payout Ratio | 20.40% | 5.54% | 11.51% | 15.31% | ||
| Buyback Yield / Dilution | -26.08% | -72.40% | 10.06% | 7.21% | -0.93% | -35.76% |
| Total Shareholder Return | -25.60% | -71.95% | 10.53% | 8.27% | 2.36% | -35.76% |