CNX Resources Corporation

NYSE:CNX Stock Report

Market Cap: US$4.5b

CNX Resources Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 CNX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$50.54
Fair Value
40.3% undervalued intrinsic discount
13
Number of Analysts

Below Fair Value: CNX ($30.19) is trading below our estimate of fair value ($50.54)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for CNX. This is calculated by dividing CNX's market cap by their current revenue.
What is CNX's PS Ratio?
PS Ratio3.8x
SalesUS$1.17b
Market CapUS$4.49b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CNX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.9x
CRK Comstock Resources
4.2x21.8%US$5.4b
GPOR Gulfport Energy
3.7x23.8%US$3.3b
SM SM Energy
1.9x15.5%US$4.4b
CRC California Resources
1.7x9.3%US$4.4b
CNX CNX Resources
3.8x28.0%US$4.5b

Price-To-Sales vs Peers: CNX is expensive based on its Price-To-Sales Ratio (3.8x) compared to the peer average (2.9x).

Price to Sales Ratio vs Industry

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

42 CompaniesPrice / SalesEstimated GrowthMarket Cap
PSX Phillips 66
0.4x-4.5%US$52.88b
MPC Marathon Petroleum
0.4x-3.7%US$49.31b
VLO Valero Energy
0.3x-4.2%US$42.84b
PAA Plains All American Pipeline
0.3x3.7%US$13.93b
CNX 3.8xIndustry Avg. 1.8xNo. of Companies42PS01.63.24.86.48+
42 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CNX is expensive based on its Price-To-Sales Ratio (3.8x) compared to the US Oil and Gas industry average (1.8x).

Price to Sales Ratio vs Fair Ratio

What is CNX'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.

CNX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.8x
Fair PS Ratio1.6x

Price-To-Sales vs Fair Ratio: CNX is expensive based on its Price-To-Sales Ratio (3.8x) compared to the estimated Fair Price-To-Sales Ratio (1.6x).

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 CNX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$30.19
US$29.92
-0.9%
11.9%US$35.00US$22.00n/a13
Feb ’26US$27.38
US$30.00
+9.6%
12.6%US$35.00US$22.00n/a13
Jan ’26US$36.67
US$31.18
-15.0%
15.0%US$37.00US$23.00n/a11
Dec ’25US$40.52
US$30.00
-26.0%
15.2%US$35.00US$20.00n/a11
Nov ’25US$33.94
US$29.73
-12.4%
15.3%US$35.00US$20.00n/a11
Oct ’25US$32.66
US$27.00
-17.3%
17.1%US$38.00US$20.00n/a10
Sep ’25US$27.67
US$26.40
-4.6%
12.6%US$31.00US$20.00n/a10
Aug ’25US$26.23
US$26.40
+0.6%
11.4%US$31.00US$22.00n/a10
Jul ’25US$24.01
US$25.60
+6.6%
10.7%US$30.00US$22.00n/a10
Jun ’25US$26.30
US$25.60
-2.7%
10.7%US$30.00US$22.00n/a10
May ’25US$22.93
US$25.30
+10.3%
9.7%US$30.00US$22.00n/a10
Apr ’25US$23.97
US$23.09
-3.7%
11.0%US$28.00US$18.00n/a11
Mar ’25US$21.09
US$21.73
+3.0%
13.9%US$27.00US$17.00n/a11
Feb ’25US$20.23
US$21.64
+7.0%
13.7%US$27.00US$17.00US$27.3811
Jan ’25US$20.00
US$22.73
+13.6%
12.9%US$27.00US$18.00US$36.6711
Dec ’24US$21.07
US$22.45
+6.6%
13.1%US$27.00US$18.00US$40.5211
Nov ’24US$21.85
US$22.64
+3.6%
12.2%US$27.00US$18.00US$33.9411
Oct ’24US$22.58
US$22.00
-2.6%
10.4%US$27.00US$19.00US$32.6611
Sep ’24US$22.67
US$21.09
-7.0%
11.9%US$27.00US$18.00US$27.6711
Aug ’24US$20.49
US$19.27
-5.9%
15.3%US$27.00US$16.00US$26.2311
Jul ’24US$17.72
US$18.91
+6.7%
19.2%US$28.00US$15.00US$24.0111
Jun ’24US$15.69
US$19.00
+21.1%
19.4%US$28.00US$15.00US$26.3011
May ’24US$15.39
US$19.45
+26.4%
19.8%US$28.00US$15.00US$22.9311
Apr ’24US$16.02
US$19.70
+23.0%
18.3%US$25.00US$16.00US$23.9710
Mar ’24US$15.22
US$19.80
+30.1%
18.9%US$25.00US$16.00US$21.0910
Feb ’24US$16.25
US$20.50
+26.2%
20.7%US$28.00US$16.00US$20.2310
Analyst Price Target
Consensus Narrative from 13 Analysts
US$29.92
Fair Value
0.9% overvalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/16 17:16
End of Day Share Price 2025/02/14 00:00
Earnings2024/12/31
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

CNX Resources Corporation is covered by 51 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nathan JudgeAtlantic Equities LLP
Joseph AllmanBaird
Peter WardBarclays