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Core Natural Resources (CNR) USD

At a glance: strengths & risks
✓Revenue growing (+86%)✓Low leverage (0.0x EBITDA)✗Profit falling (-153%)✗Loss-making last FY✗Margins compressing (26%→11%)

Sector: Coal

Geography: United States

COMM_CNR

Price chart

83.2 USDDay -3.85%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
83.2 USD · -3.85%
Market cap
4.2 bn USD

Growth

Δ revenue y/y
6.6%
Δ EBITDA y/y
164.6%

Multiples

P/E (LTM)
—
3y avg: 13.5x
P/B (FY)
1.2x
P/E (ann.)
50.4x
EV/EBITDA (LTM)
7.7x
3y avg: 7.1x
EV/EBITDA (ann.)
5.9x

Cash return

Dividend yield
0.5%
FCF yield (LTM)
5.7%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-36.0%
↓ details

Liquidity

Daily turnover (listing)
29.5 mln USD

Shares: yahoo_fundamentals_timeseries/CNR

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK1084.3
y/y 6.6%
32.7
y/y —
146.3
y/y 20.4%
179.0
y/y 164.6%
21.0
y/y —
119.4-73.16055.9
y/y -3.1%
3656.9
y/y -6.1%
2.3%-1.1Link
2025-12-31Q4 2025 (3M)OK1042.5
y/y 61.5%
-97.1
y/y -356.2%
179.2
y/y 207.2%
82.2
y/y -14.6%
-79.0
y/y -356.3%
107.3-81.36130.1
y/y 112.9%
3678.2
y/y 134.5%
-4.1%13.0Link
2025-09-30Q3 2025 (3M)OK1002.5
y/y 81.2%
-11.8
y/y -110.1%
151.0
y/y 183.2%
139.2
y/y -18.4%
31.6
y/y -67.0%
87.9-49.36195.9
y/y 119.4%
3778.8
y/y 147.1%
1.1%-39.1Link
2025-06-30Q2 2025 (3M)OK1102.4
y/y 124.6%
-19.3
y/y -126.8%
169.3
y/y 208.6%
150.0
y/y 18.4%
-36.6
y/y -163.0%
220.2-89.26208.7
y/y 129.1%
3767.6
y/y 161.9%
-3.8%-33.5Link
2025-03-31Q1 2025 (3M)OK1017.4
y/y 86.1%
-53.9
y/y -143.5%
121.6
y/y 113.3%
67.6
y/y -62.6%
-69.3
y/y -168.0%
-109.6-64.86251.9
y/y 133.3%
3895.8
y/y 180.5%
-10.1%-30.7Link
2024-12-31Q4 2024 (3M)OK645.5
y/y -0.6%
37.9
y/y -81.5%
58.4
y/y -0.2%
96.2
y/y -63.4%
30.8
y/y -80.4%
121.3-40.82879.5
y/y 7.6%
1568.2
y/y 16.7%
18.5%-255.4Link
2024-09-30Q3 2024 (3M)OK553.4
y/y -2.9%
117.2
y/y -3.7%
53.3
y/y -9.3%
170.5
y/y -5.5%
95.6
y/y -5.1%
161.3-39.42824.1
y/y 6.2%
1529.5
y/y 16.9%
8.6%-134.1Link
2024-06-30Q2 2024 (3M)OK490.7
y/y -25.8%
71.9
y/y -65.0%
54.8
y/y -15.0%
126.7
y/y -53.0%
58.1
y/y -65.4%
116.3-55.42710.5
y/y 1.2%
1438.4
y/y 7.7%
16.4%-15.3Link
2024-03-31Q1 2024 (3M)OK546.7
y/y -20.6%
124.0
y/y -54.4%
57.0
y/y -4.3%
181.0
y/y -45.4%
101.9
y/y -55.8%
77.5-42.42680.1
y/y -0.6%
1388.8
y/y 8.4%
29.8%28.3Link
2023-12-31Q4 2023 (3M)OK649.4
y/y —
204.3
y/y —
58.4
y/y —
262.8
y/y —
157.1
y/y —
219.1-50.02675.0
y/y —
1343.4
y/y —
49.5%-78.4Link
2023-09-30Q3 2023 (3M)OK569.9
y/y —
121.8
y/y —
58.8
y/y —
180.5
y/y —
100.7
y/y —
162.7-41.72659.5
y/y —
1308.8
y/y —
10.2%39.4Link
2023-06-30Q2 2023 (3M)OK661.0
y/y —
205.3
y/y —
64.5
y/y —
269.8
y/y —
167.7
y/y —
227.6-42.32678.3
y/y —
1335.2
y/y —
51.3%44.5Link
2023-03-31Q1 2023 (3M)OK688.6
y/y —
272.0
y/y —
59.6
y/y —
331.5
y/y —
230.4
y/y —
248.5-33.82695.3
y/y —
1280.9
y/y —
—93.5Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02505007501 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%0%100%200%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-10001002003002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-300-200-10002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — Steam coal (Australia)

Current 137spot vs LTM +14%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -36.0% ▲ +5.4 pp 1d

Main driver: Steam coal (Australia) +14% vs LTM; revenue ×1.10 vs costs ×1.04; EBITDA 550→811; at 3.3× EV/EBITDA → -36%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Steam coal (Australia) (rev)+55%136.75119.46130.25+14%+9%
Coking coal (Australia) (rev)+45%223.50215.46239.91+4%+11%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue4 232
LTM EBITDA550
LTM cash costs (revenue − EBITDA)3 681
2 · Revenue projection
Revenue multiplier — spot×1.096 (+10%)
= Spot revenue4 640
Revenue multiplier — 3y price×1.101 (+10%)
= 3-year-price revenue4 658
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs3 829
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs3 829
4 · EBITDA projection (revenue − costs)
= Spot EBITDA811
= 3-year-price EBITDA830
Conservative EBITDA = min(spot, avg)811
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)3.3x
Target EV = EV/EBITDA × conservative EBITDA2 709
Net debt-4
Target market cap = EV − net debt2 713
Current market cap4 241

Upside = target market cap ÷ current − 1 = -36.0%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2024 Q1547555-1.5%181164+10.3%
2024 Q2491557-11.9%127164-22.8%
2024 Q3553494+11.9%171109+57.1%
2024 Q4645508+27.2%96123-22.0%
2025 Q11 017446+127.9%6821+227.5%
2025 Q21 102561+96.6%150-15—
2025 Q31 003778+28.9%13952+170.1%
2025 Q41 042927+12.5%8277+6.3%
2026 Q11 0841 204-9.9%179249-28.2%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +86% vs -13% the year before — a +99.2 pp move. 3-year CAGR —.
revenue growth by year: 2024 -13% · 2025 +86%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 3.2x · target 75th pct (3y) 3.3x · LTM avg 8.4x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-290.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2026-03-020.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-11-280.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-08-290.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-05-300.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-03-030.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2024-11-150.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2024-08-300.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2023-05-121.1 USDEx-dividend: 1.1 USD per sharePaidYahoo Finance (ex-div)
2023-02-161.1 USDEx-dividend: 1.1 USD per sharePaidYahoo Finance (ex-div)
2022-11-101.05 USDEx-dividend: 1.05 USD per sharePaidYahoo Finance (ex-div)
2022-08-151 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Core Natural Resources (CNR) — from primary filings.

Core Natural Resources, Inc. produces and sells metallurgical coal for steelmaking and thermal coal for power generation, operating mines in Pennsylvania, West Virginia, Colorado, and Wyoming, along with a coal export terminal in Baltimore.

Frequently asked questions

What is Core Natural Resources (CNR)'s EV/EBITDA?
Core Natural Resources (CNR) trades at 7.7x EV/EBITDA.
What is Core Natural Resources (CNR)'s P/B ratio?
Core Natural Resources (CNR) trades at a P/B of 1.2x.
What is Core Natural Resources (CNR)'s dividend yield?
Core Natural Resources (CNR)'s trailing 12-month dividend yield is 0.5%.
What is Core Natural Resources (CNR)'s return on equity (ROE)?
Core Natural Resources (CNR)'s ROE is 2.3%.
What is Core Natural Resources (CNR)'s market capitalization?
Core Natural Resources (CNR)'s market cap is 4.2 bn USD.