Core Natural Resources, Inc.

DB:C9X0 Stock Report

Market Cap: €3.5b

Core Natural Resources Valuation

Is C9X0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of C9X0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

€256.91
Fair Value
74.3% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: C9X0 (€66.05) is trading below our estimate of fair value (€256.91)

Significantly Below Fair Value: C9X0 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for C9X0?

Key metric: As C9X0 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for C9X0. This is calculated by dividing C9X0's market cap by their current revenue.
What is C9X0's PS Ratio?
PS Ratio1.1x
SalesUS$3.72b
Market CapUS$3.98b

Price to Sales Ratio vs Peers

How does C9X0's PS Ratio compare to its peers?

The above table shows the PS ratio for C9X0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.1x
ETG EnviTec Biogas
0.9xn/a€280.7m
H2A H2APEX Group
4.1x44.16%€73.7m
VH2 Friedrich Vorwerk Group
2.6x8.05%€1.7b
VBK Verbio
0.6x12.00%€1.0b
C9X0 Core Natural Resources
1.1x8.23%€4.0b

Price-To-Sales vs Peers: C9X0 is good value based on its Price-To-Sales Ratio (1.1x) compared to the peer average (2.1x).

Price to Sales Ratio vs Industry

How does C9X0's PS Ratio compare vs other companies in the European Oil and Gas Industry?

30 CompaniesPrice / SalesEstimated GrowthMarket Cap
C9X0 1.1xIndustry Avg. 1.3xNo. of Companies30PS012345+
30 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: C9X0 is good value based on its Price-To-Sales Ratio (1.1x) compared to the European Oil and Gas industry average (1.3x).

Price to Sales Ratio vs Fair Ratio

What is C9X0's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

C9X0 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.1x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: C9X0 is expensive based on its Price-To-Sales Ratio (1.1x) compared to the estimated Fair Price-To-Sales Ratio (1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst C9X0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€66.05
€97.72
+47.95%
8.21%€108.10€89.07n/a4
Nov ’26€65.30
€97.83
+49.82%
7.61%€107.63€90.41n/a4
Oct ’26€72.85
€81.28
+11.57%
13.34%€93.62€66.39n/a4
Sep ’26€62.85
€80.85
+28.64%
13.91%€93.86€66.56n/a4
Aug ’26€63.95
€77.64
+21.41%
20.02%€94.90€57.80n/a4
Jul ’26€58.70
€84.65
+44.21%
24.06%€114.51€56.83n/a5
Jun ’26€61.95
€95.39
+53.98%
20.07%€120.64€67.02n/a4
May ’26€65.25
€98.56
+51.06%
19.95%€120.69€67.05n/a4
Apr ’26€70.65
€107.21
+51.74%
19.67%€125.96€74.10n/a4
Mar ’26€69.75
€111.27
+59.53%
19.67%€130.74€76.90n/a4
Feb ’26€88.40
€118.34
+33.86%
17.18%€135.06€89.72n/a3
Jan ’26€97.86
€118.62
+21.22%
12.60%€132.29€97.82n/a3
Dec ’25€125.15
€118.62
-5.21%
12.60%€132.29€97.82n/a3
Nov ’25€101.60
€110.29
+8.55%
11.15%€125.79€95.71€65.303
Oct ’25€93.18
€100.41
+7.76%
5.70%€108.23€94.70€72.853
Sep ’25€90.92
€100.14
+10.14%
6.94%€109.91€94.34€62.853
Aug ’25€91.70
€97.72
+6.57%
3.89%€102.38€93.07€63.953
Jul ’25€95.44
€97.72
+2.39%
3.89%€102.38€93.07€58.703
Jun ’25€91.16
€97.72
+7.20%
3.89%€102.38€93.07€61.953
May ’25€81.92
€96.10
+17.31%
4.72%€101.32€90.27€65.253
Apr ’25€76.50
€97.47
+27.41%
3.89%€102.11€92.83€70.653
Mar ’25€79.20
€97.47
+23.07%
3.89%€102.11€92.83€69.753
Feb ’25€87.80
€99.44
+13.26%
2.42%€101.58€96.09€88.403
Jan ’25€91.60
€100.94
+10.20%
2.21%€104.09€99.36€97.863
Dec ’24€97.60
€100.94
+3.42%
2.21%€104.09€99.36€125.153
Nov ’24€91.00
€100.94
+10.92%
2.21%€104.09€99.36€101.603
€96.03
Fair Value
31.2% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/24 05:03
End of Day Share Price 2025/11/21 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Core Natural Resources, Inc. is covered by 9 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mark LevinBenchmark Company
Nathan MartinBenchmark Company
Lucas PipesB. Riley Securities, Inc.