Core Natural Resources, Inc. (CNR) Key Metrics
CNR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.48B
- Enterprise value
- $4.55B
- P/E (TTM)
- 45.6 10-yr median 5.9
- Forward P/E
- 8.9
- PEG ratio
- 0.35
- Price / sales
- 1.1 10-yr median 0.8
- Price / book
- 1.2 10-yr median 2.0
- EV / EBITDA
- 6.3 10-yr median 3.2
- Dividend yield
- 0.44% $0.40 a year
- Beta
- 0.25
CNR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCNR valuation Price multiples at each fiscal year-end price.
CNR returns How much profit the business earns on the capital it uses.
CNR per-share figures Results divided by the shares outstanding at year-end.
CNR financial health Debt, liquidity and how easily interest is covered.
CNR efficiency & capital use Working capital cycle and where the cash goes.
CNR valuation history
CNR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CNR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CNR cash returned to shareholders
CNR price vs earnings per share
CNR key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.55B | $3.18B | $3.33B | $2.32B | $806.9M | $190.1M | $392.8M | $901.2M | $1.11B | — |
| Enterprise value | $4.57B | $2.93B | $3.26B | $2.45B | $1.33B | $852.0M | $1.10B | $1.53B | $1.85B | — |
| P/E ratio | — | 11.1 | 5.1 | 5.0 | 23.7 | — | 5.2 | 5.9 | 16.5 | — |
| Price / sales | 1.1 | 1.5 | 1.3 | 1.0 | 0.6 | 0.2 | 0.3 | 0.6 | 0.8 | — |
| Price / book | 1.2 | 2.0 | 2.5 | 2.0 | 1.2 | 0.3 | 0.9 | 2.2 | 5.5 | — |
| Price / free cash flow | 215.0 | 10.7 | 4.8 | 4.8 | 4.7 | 4.4 | 5.2 | 3.4 | 6.7 | — |
| Price / operating cash flow | 14.9 | 6.7 | 3.9 | 3.6 | 2.6 | 1.5 | 1.6 | 2.2 | 4.5 | — |
| EV / sales | 1.1 | 1.4 | 1.3 | 1.1 | 1.1 | 1.0 | 0.8 | 1.0 | 1.4 | — |
| EV / EBITDA | 10.7 | 5.1 | 3.1 | 2.9 | 4.1 | 3.2 | 3.0 | 3.2 | 5.0 | — |
| EV / free cash flow | 215.9 | 9.8 | 4.7 | 5.1 | 7.7 | 19.7 | 14.7 | 5.7 | 11.1 | — |
| Earnings yield | −3.4% | 9.0% | 19.7% | 20.1% | 4.2% | −5.1% | 19.3% | 17.0% | 6.1% | — |
| Free cash flow yield | 0.5% | 9.4% | 20.7% | 20.6% | 21.4% | 22.8% | 19.0% | 29.7% | 15.0% | — |
| Dividend yield | 0.6% | 0.5% | 2.3% | 3.1% | 0.0% | 0.0% | — | 2.0% | 52.2% | — |
| Shareholder yield (dividends + buybacks) | 5.5% | 2.7% | 14.3% | 3.1% | 0.0% | 3.4% | 8.3% | 4.9% | 56.1% | — |
| Share price at fiscal year-end | $88.51 | $106.68 | $100.53 | $65.00 | $22.71 | $7.21 | $14.51 | $31.71 | $39.51 | — |
| Per share | ||||||||||
| Revenue per share | $81.00 | $72.09 | $75.63 | $63.81 | $35.49 | $33.36 | $50.81 | $51.82 | $46.89 | $15.70 |
| Earnings per share | −$2.98 | $9.61 | $19.79 | $13.07 | $0.96 | −$0.37 | $2.81 | $5.38 | $2.40 | $0.57 |
| Operating cash flow per share | $5.95 | $15.98 | $25.89 | $18.22 | $8.60 | $4.91 | $9.03 | $14.55 | $8.80 | $4.52 |
| Free cash flow per share | $0.41 | $10.01 | $20.82 | $13.42 | $4.86 | $1.64 | $2.76 | $9.42 | $5.92 | $3.78 |
| Cash per share | $8.41 | $15.44 | $8.49 | $7.64 | $4.22 | $1.93 | $2.97 | $8.29 | $5.46 | $0.98 |
| Book value per share | $71.54 | $52.61 | $40.54 | $32.63 | $18.94 | $20.99 | $16.08 | $14.42 | $7.25 | $3.86 |
| Tangible book value per share | $71.54 | −$64.59 | $40.54 | $32.63 | −$62.20 | −$84.42 | −$109.90 | $4.72 | −$2.88 | −$0.27 |
| Dividends per share | $0.51 | $0.53 | $2.28 | $2.00 | $0.00 | $0.00 | — | $0.64 | $20.64 | $3.72 |
| Capex per share | $5.53 | $5.97 | $5.06 | $4.80 | $3.74 | $3.26 | $6.27 | $5.13 | $2.89 | $0.74 |
| Debt per share | $8.80 | $7.17 | $6.41 | $11.31 | $18.97 | $27.04 | $29.11 | $30.58 | $31.62 | $5.55 |
| Shares outstanding | 51.4M | 29.8M | 33.1M | 35.7M | 35.5M | 26.4M | 27.1M | 28.4M | 28.2M | 72.9M |
| Change in shares outstanding | +72.5% | −10.1% | −7.2% | +0.6% | +34.8% | −2.6% | −4.7% | +0.9% | −61.3% | +160.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −5.8% | 19.7% | 52.3% | 50.8% | 5.6% | −2.0% | 18.0% | 49.8% | 27.9% | 7.0% |
| Return on invested capital (ROIC) | −6.8% | 17.7% | 49.0% | 53.0% | 8.0% | −7.5% | 11.7% | 20.8% | 6.8% | −0.7% |
| Return on assets (ROA) | −3.4% | 10.3% | 24.4% | 17.7% | 1.3% | −0.4% | 2.8% | 5.6% | 3.6% | 2.1% |
| Return on tangible assets | −2.5% | — | 24.5% | 17.3% | — | — | — | 6.2% | 2.8% | 5.5% |
| Free cash flow margin | 0.5% | 13.9% | 27.5% | 21.0% | 13.7% | 4.9% | 5.4% | 18.2% | 12.6% | 24.1% |
| Income quality (OCF / net income) | — | 1.66 | 1.31 | 1.39 | 8.96 | — | 3.22 | 2.70 | 3.67 | 7.93 |
| Financial health | ||||||||||
| Total debt | $452.5M | $213.7M | $212.3M | $404.2M | $673.9M | $712.8M | $788.0M | $869.0M | $890.9M | $404.6M |
| Cash & short-term investments | $432.2M | $460.2M | $281.3M | $273.1M | $149.9M | $50.9M | $80.3M | $235.7M | $154.0M | $71.5M |
| Net debt | $20.3M | −$246.5M | −$69.0M | $131.1M | $524.0M | $662.0M | $707.7M | $633.4M | $737.0M | $333.1M |
| Debt / equity | 0.12 | 0.14 | 0.16 | 0.35 | 1.00 | 1.29 | 1.81 | 2.12 | 4.36 | 1.44 |
| Debt / assets | 0.07 | 0.07 | 0.08 | 0.15 | 0.26 | 0.28 | 0.29 | 0.31 | 0.33 | 0.39 |
| Net debt / EBITDA | 0.05 | −0.43 | −0.07 | 0.15 | 1.62 | 2.52 | 1.90 | 1.34 | 2.00 | 1.30 |
| Current ratio | 1.60 | 1.52 | 1.35 | 1.33 | 0.87 | 0.80 | 0.86 | 0.96 | 1.26 | 1.55 |
| Quick ratio | 1.15 | 1.33 | 1.16 | 1.19 | 0.73 | 0.64 | 0.72 | 0.86 | 1.09 | 0.97 |
| Interest coverage | -5.4 | 12.0 | 25.5 | 15.3 | 1.6 | -1.8 | 2.0 | 2.6 | 4.0 | -0.6 |
| Working capital | $501.9M | $267.3M | $157.3M | $149.7M | −$58.9M | −$75.5M | −$54.2M | −$18.2M | $83.2M | $178.3M |
| Invested capital | $3.70B | $1.32B | $1.27B | $1.30B | $1.20B | $1.22B | $1.14B | $1.04B | $941.2M | $614.5M |
| Tangible asset value | $3.68B | −$1.93B | $1.34B | $1.17B | −$2.21B | −$2.23B | −$2.84B | $275.8M | $58.2M | −$19.7M |
| Net current asset value | −$1.11B | −$525.3M | −$730.6M | −$940.1M | −$1.51B | −$1.68B | −$1.78B | −$1.74B | −$1.96B | −$264.0M |
| Graham number | — | $106.65 | $134.35 | $97.96 | $20.22 | — | $31.87 | $41.80 | $19.78 | $7.03 |
| Graham net-net per share | −$29.76 | −$22.85 | −$26.73 | −$30.36 | −$45.95 | −$67.16 | −$69.61 | −$65.18 | −$72.99 | −$6.40 |
| Capital allocation | ||||||||||
| Dividends paid | $26.3M | $15.9M | $75.5M | $71.5M | $0 | $0 | — | $18.2M | $581.5M | $271.0M |
| Share buybacks (net) | $224.3M | $70.9M | $399.4M | $0 | $0 | $6.4M | $32.7M | $25.8M | $43.6M | $64.0M |
| Dividend payout ratio | — | 5.5% | 11.5% | 15.3% | 0.0% | — | — | 11.9% | 859.8% | 653.0% |
| Dividends + buybacks / free cash flow | — | 29.1% | 68.8% | 14.9% | 0.0% | 14.8% | 43.7% | 16.5% | 375.0% | 121.6% |
| Capex / revenue | 6.8% | 8.3% | 6.7% | 7.5% | 10.5% | 9.8% | 12.3% | 9.9% | 6.2% | 4.7% |
| Capex / operating cash flow | 93.1% | 37.4% | 19.6% | 26.3% | 43.4% | 66.5% | 69.4% | 35.2% | 32.8% | 16.3% |
| Capex / depreciation | 0.46 | 0.80 | 0.70 | 0.76 | 0.59 | 0.41 | 0.82 | 0.72 | 0.47 | 0.30 |
| Stock-based compensation / revenue | 0.8% | 0.3% | 0.4% | 0.3% | 0.5% | 1.3% | 0.9% | 0.7% | 1.7% | 1.1% |
| SG&A / revenue | 5.2% | 5.4% | 4.1% | 5.1% | 6.9% | 8.2% | 45.6% | 20.9% | 22.2% | 26.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 24.8 | 27.4 | 26.0 | 25.0 | 40.0 | 69.1 | 40.0 | 36.8 | 48.5 | 45.0 |
| Days of inventory on hand | 20.6 | 67.6 | 52.6 | 57.6 | 66.2 | 80.3 | 82.7 | 76.1 | 178.5 | 194.9 |
| Days payables outstanding | 21.0 | 103.0 | 91.2 | 92.2 | 82.1 | 129.2 | 190.9 | 178.9 | 323.2 | 337.6 |
| Cash conversion cycle (days) | 24.4 | -8.0 | -12.5 | -9.6 | 24.0 | 20.3 | -68.1 | -66.0 | -96.3 | -97.8 |
| Receivables turnover | 14.72 | 13.30 | 14.04 | 14.60 | 9.13 | 5.28 | 9.12 | 9.92 | 7.52 | 8.12 |
| Payables turnover | 17.38 | 3.54 | 4.00 | 3.96 | 4.44 | 2.83 | 1.91 | 2.04 | 1.13 | 1.08 |
| Inventory turnover | 17.69 | 5.40 | 6.93 | 6.34 | 5.52 | 4.55 | 4.41 | 4.80 | 2.05 | 1.87 |
| Asset turnover | 0.92 | 0.77 | 0.93 | 0.86 | 0.49 | 0.34 | 0.50 | 0.54 | 0.70 | 0.58 |
| Average receivables | $282.9M | $161.5M | $178.5M | $156.2M | $138.1M | $166.6M | $150.8M | $148.5M | $175.7M | $140.9M |
| Average payables | $239.6M | $140.4M | $133.7M | $103.4M | $73.9M | $88.7M | $118.6M | $120.0M | $217.6M | $207.7M |
| Average inventory | $235.5M | $92.2M | $77.2M | $64.6M | $59.5M | $55.2M | $51.4M | $51.0M | $120.1M | $119.9M |
| Intangibles / total assets | 0.0% | 121.3% | 0.0% | 0.0% | 112.0% | 110.1% | 126.6% | 10.0% | 10.5% | 28.7% |
Computed from CNR's annual financial statements (latest annual report filed February 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CNR valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 45.6 and the forward P/E is 8.9. Core Natural Resources earned a return on equity of −5.8% and a return on invested capital of −6.8% in fiscal 2025. It ended the year with $452.5 million of debt and $432.2 million in cash and short-term investments, net debt of $20.3 million. It returned $250.5 million to shareholders: $26.3 million in dividends and $224.3 million in share buybacks. The share count fell 29.4% from 72.9M to 51.4M over 9 years.
See the CNR income statement, the CNR chart for price history, or the CNR stock overview for the latest quote and news.
CNR key metrics FAQ
What is Core Natural Resources's P/E ratio?
Core Natural Resources's trailing P/E ratio is 45.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 8.9. At the end of fiscal 2025 it was —, compared with a 10-year median of 5.9.
What is Core Natural Resources's EV/EBITDA?
Core Natural Resources's enterprise value was 10.7 times EBITDA at the end of fiscal 2025 (enterprise value $4.6 billion, EBITDA $427.5 million); the current EV/EBITDA is 6.3.
What is Core Natural Resources's return on equity?
Core Natural Resources's return on equity (ROE) was −5.8% in fiscal 2025: net income of -$153.2 million on average shareholders' equity of $2.6 billion.
What is Core Natural Resources's ROIC?
Core Natural Resources's return on invested capital was −6.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Core Natural Resources have?
Core Natural Resources had total debt of $452.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.12 and $20.3 million of net debt (0.05 times EBITDA).
What is Core Natural Resources's dividend yield?
Core Natural Resources's forward dividend yield is 0.44%. Core Natural Resources paid $26.3 million in dividends in fiscal 2025 ($0.51 per share), a payout ratio of —.
Does Core Natural Resources buy back its shares?
Yes. Core Natural Resources spent $224.3 million on net share repurchases in fiscal 2025 Shares outstanding changed +72.5% over the year, to 51.4M..
What is Core Natural Resources's free cash flow yield?
Core Natural Resources generated $21.2 million of free cash flow in fiscal 2025, a free cash flow yield of 0.5% on its market value at year-end ($4.6 billion).
What is Core Natural Resources's current ratio?
Core Natural Resources's current ratio was 1.60 at the end of fiscal 2025: current assets were 1.60 times current liabilities.