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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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.

US$100.33
Fair Value
67.7% undervalued intrinsic discount
14
Number of Analysts

Below Fair Value: CNX ($32.41) is trading below our estimate of fair value ($100.33)

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 profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CNX. This is calculated by dividing CNX's market cap by their current earnings.
What is CNX's PE Ratio?
PE Ratio29.4x
EarningsUS$155.72m
Market CapUS$4.50b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CNX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.8x
RRC Range Resources
18.5x17.25%US$8.6b
MGY Magnolia Oil & Gas
11.9x7.67%US$4.4b
MUR Murphy Oil
13.9x13.13%US$4.0b
BSM Black Stone Minerals
10.8x7.07%US$2.6b
CNX CNX Resources
29.4x45.15%US$4.5b

Price-To-Earnings vs Peers: CNX is expensive based on its Price-To-Earnings Ratio (29.4x) compared to the peer average (13.8x).

Price to Earnings Ratio vs Industry

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

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AXAS Abraxas Petroleum
0.09xn/aUS$10.27m
AVAC.F Avance Gas Holding
0.002xn/aUS$834.86k
BYRO.F Byron Energy
0.03x-10.28%US$312.17k
NXTF.F Nextraction Energy
0.2xn/aUS$4.25k
CNX 29.4xIndustry Avg. 13.1xNo. of Companies18PE0816243240+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CNX is expensive based on its Price-To-Earnings Ratio (29.4x) compared to the US Oil and Gas industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

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

CNX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.4x
Fair PE Ratio25x

Price-To-Earnings vs Fair Ratio: CNX is expensive based on its Price-To-Earnings Ratio (29.4x) compared to the estimated Fair Price-To-Earnings Ratio (25x).

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$32.41
US$31.86
-1.71%
13.36%US$42.00US$24.00n/a14
Oct ’26US$33.59
US$31.64
-5.80%
13.65%US$42.00US$24.00n/a14
Sep ’26US$29.20
US$31.69
+8.54%
14.19%US$41.00US$24.00n/a13
Aug ’26US$28.91
US$32.23
+11.49%
12.24%US$41.00US$26.00n/a13
Jul ’26US$32.17
US$31.08
-3.38%
12.63%US$40.00US$25.00n/a12
Jun ’26US$32.28
US$31.25
-3.19%
13.01%US$41.00US$25.00n/a12
May ’26US$29.58
US$30.25
+2.27%
15.51%US$41.00US$21.00n/a12
Apr ’26US$31.86
US$30.77
-3.42%
19.30%US$48.00US$22.00n/a13
Mar ’26US$28.90
US$29.92
+3.54%
11.90%US$35.00US$22.00n/a13
Feb ’26US$27.38
US$30.00
+9.57%
12.61%US$35.00US$22.00n/a13
Jan ’26US$36.67
US$31.18
-14.97%
15.03%US$37.00US$23.00n/a11
Dec ’25US$40.52
US$30.00
-25.96%
15.24%US$35.00US$20.00n/a11
Nov ’25US$33.94
US$29.73
-12.41%
15.25%US$35.00US$20.00n/a11
Oct ’25US$32.66
US$27.00
-17.33%
17.05%US$38.00US$20.00US$33.5910
Sep ’25US$27.67
US$26.40
-4.59%
12.59%US$31.00US$20.00US$29.2010
Aug ’25US$26.23
US$26.40
+0.65%
11.39%US$31.00US$22.00US$28.9110
Jul ’25US$24.01
US$25.60
+6.62%
10.65%US$30.00US$22.00US$32.1710
Jun ’25US$26.30
US$25.60
-2.66%
10.65%US$30.00US$22.00US$32.2810
May ’25US$22.93
US$25.30
+10.34%
9.69%US$30.00US$22.00US$29.5810
Apr ’25US$23.97
US$23.09
-3.67%
11.00%US$28.00US$18.00US$31.8611
Mar ’25US$21.09
US$21.73
+3.02%
13.89%US$27.00US$17.00US$28.9011
Feb ’25US$20.23
US$21.64
+6.95%
13.69%US$27.00US$17.00US$27.3811
Jan ’25US$20.00
US$22.73
+13.64%
12.87%US$27.00US$18.00US$36.6711
Dec ’24US$21.07
US$22.45
+6.57%
13.07%US$27.00US$18.00US$40.5211
Nov ’24US$21.85
US$22.64
+3.60%
12.25%US$27.00US$18.00US$33.9411
Oct ’24US$22.58
US$22.00
-2.57%
10.44%US$27.00US$19.00US$32.6611
US$31.86
Fair Value
1.7% overvalued intrinsic discount
14
Number of Analysts

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

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/15 05:50
End of Day Share Price 2025/10/15 00:00
Earnings2025/06/30
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

CNX Resources Corporation is covered by 43 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
Joseph AllmanBaird
Wei JiangBarclays
Peter WardBarclays