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Stock research / United States / CNR · Silver Ores · NYSE

Core Natural Resources, Inc. (CNR)

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Core Natural Resources, Inc. (CNR) reported revenue of $1.1 billion for Q2 FY2026, the quarter ended 30 June 2026, up 3.5% on the same quarter a year earlier. Net income was $126 million, and diluted earnings per share $2.51. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$1.1 billionup 3.5%
Net income$126 million
Diluted EPS$2.51
QuarterQ2 FY2026ended 30 June 2026

Core Natural Resources (CNR) in brief

Core Natural Resources (CNR) reported revenue of $4.2 billion for fiscal 2025, the year ended 31 December 2025, up 92.4% on the year before.
Read moreNet loss was $153 million and the diluted loss per share $2.98. Revenue was $2.2 billion in fiscal 2024, $2.5 billion in fiscal 2023, $2.1 billion in fiscal 2022 and $1.3 billion in fiscal 2021. Net income in the same years was $286 million, $656 million, $467 million and $34 million. Over the twelve months to 30 June 2026, Core Natural Resources reported revenue of $4.3 billion and net income of $100 million. Revenue grew 32.5% a year, compounded, over the five years to fiscal 2025. Core Natural Resources declared $0.40 a share in dividends over the last four quarters and had 50 million shares outstanding at the latest filed count. At 30 June 2026 it carried $405 million of debt and $473 million of cash. At the close of 9 October 2026 the market cap of Core Natural Resources was $4.4 billion, 44.4 times its earnings over the last twelve months.

Ratios

From the filings

ROE2.7%
ROCE1.9%
Operating margin1.9%
Net margin2.3%
FCF margin6.1%
Interest cover1.77
Debt to equity0.11
Cash conversion5.64
Share count, 1 year-3.2%
Sales CAGR, 3 years25.6%
Profit CAGR, 3 yearsn/a
EPS, TTM$1.99

At the close of 9 October 2026

Price$88.44
Market cap$4.4 billion
Stock P/E44.44
Price to book1.19
EV / EBITDA6.00
Dividend yield0.5%
Market cap / sales1.03
52-week high$113.23
52-week low$76.01
Price, 1 year-9.5%
Price CAGR, 3 years-6.5%
Price CAGR, 5 years21.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the one borrowings figure Core Natural Resources, Inc. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.
CNRgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CNR

Filings19 in twelve months: 11 current reports (8-K), about 8 regulation FD disclosure; 4 results of operations; 3 mine safety; 1 officer or director change; 1 shareholder vote
Planned insider sales6 Form 144 notices in twelve months, $12.1 million; latest 19 March 2026
Options tapeput/call 0.85 by open interest at the 9 October 2026 close; the straddle prices a 4.7% move to 16 October 2026
13F holders7 of the followed funds hold it; largest FMR LLC; 8 Schedule 13D or 13G filings in twelve months
Insider trading6 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest1.8 million shares short, 3.25 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue5706495655015755951,0171,1021,0031,0421,0841,141
Cost of revenuen/an/a354344354379870913827934879889
Gross profitn/an/a211157220216147190175108205252
Gross marginn/an/a37%31%38%36%14%17%17%10%19%22%
SG&A37.323.720.620.936.237.6n/an/an/an/an/an/a
Operating income12217912471.911737.9-53.9-19.3-11.8-97.132.7156
Operating margin21%28%22%14%20%6%-5%-2%-1%-9%3%14%
Interest expense6.65.25.45.04.77.11.73.610.611.411.211.6
Pre-tax income12217911967.111331.7-73.5-29.4-21.4-10920.6143
Tax rate17%12%14%13%15%3%n/an/an/an/a-2%12%
Net income10115710258.195.630.8-69.3-36.631.6-79.021.0126
Net margin18%24%18%12%17%5%-7%-3%3%-8%2%11%
Diluted EPS$3.11$5.19$3.39$1.96$3.22$1.04-$1.38-$0.70$0.61-$1.54$0.41$2.51
Operating cash flow16321977.5116161121-11022087.9107119250
Capital expenditure41.750.042.455.439.440.864.889.249.381.373.1102
Free cash flow12116935.160.912280.5-17413138.626.046.3149
Buybacks13712257.913.00.00.010181.919.421.741.963.0
Dividends paid0.00.00.60.57.47.410.75.25.15.25.15.0
Shares outstanding31m30m29m29m29m29m53m51m51m51m51m50m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 11 fiscal years and the trailing twelve months

FY2015FY2016FY2017FY2018FY2019FY2020 †FY2021 †FY2022FY2023 †FY2024 †FY2025TTM
Revenue1,4221,2311,4121,5321,4311,0221,2592,1022,5072,1644,1654,270
Cost of revenuen/an/an/an/an/an/an/an/a1,3781,4313,5453,530
Gross profitn/an/an/an/an/an/an/an/a1,129733620740
Gross marginn/an/an/an/an/an/an/an/a45.0%33.9%14.9%17.3%
Selling, general and administrative55.750.083.665.367.172.187.2117103115n/an/a
Operating income44365.017018898.1-9.235.4568803351-18279.6
Operating margin31.2%5.3%12.0%12.2%6.9%-0.9%2.8%27.0%32.0%16.2%-4.4%1.9%
Interest expense7.514.126.183.866.561.263.352.629.322.240.144.9
Pre-tax incomen/an/an/a18898.1-9.235.4568778331-23432.8
Income tax12614.687.28.84.54.01.310112244.2-80.5-67.3
Effective tax raten/an/an/a4.7%4.6%n/a3.7%17.8%15.7%13.4%n/a-205.1%
Net income30741.567.615376.0-9.834.1467656286-153100
Net margin21.6%3.4%4.8%10.0%5.3%-1.0%2.7%22.2%26.2%13.2%-3.7%2.3%
Diluted EPS$10.98$1.48$2.40$5.38$2.81-$0.37$0.96$13.07$19.79$9.61-$2.98$1.99
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2025Share
latest year
High CV Thermal2,20952.4%
Metallurgical1,20228.5%
PRB71917.0%
Core Marine Terminal87.72.1%
High CV ThermalMetallurgicalPRBCore Marine Terminal
4,217FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Power Generation1,0729061,86044.7%
Metallurgical3874591,32931.9%
Industrial1,00075394022.6%
Terminal Revenue47.931.121.50.5%
Other Revenuen/a15.713.80.3%
Power GenerationMetallurgicalIndustrialTerminal RevenueOther Revenue
2,507FY20232,164FY20244,165FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2015FY2016FY2017FY2018FY2019FY2020 †FY2021 †FY2022FY2023 †FY2024 †FY2025TTM
Operating cash flow292329248414245129306651858476306565
Capital expenditure14353.681.414617086.0133172168178285306
Free cash flow14927616726874.843.317347969029821.2260
Free cash flow margin10.5%22.4%11.8%17.5%5.2%4.2%13.7%22.8%27.5%13.8%0.5%6.1%
Cash from investingn/a-45.8-56.8-154-173-76.3-127-142-259-16547.7-322
Cash from financingn/a-277-50.6-149-257-82.4-30.9-380-682-107-200-205
Depreciation and amortisation195178172201207211225227241224621643
Share-based compensation8.412.922.110.212.811.66.67.910.011.332.99.5
Buybacksn/a0.00.025.832.70.00.00.039970.9224146
Dividends paidn/an/an/an/an/a0.00.071.575.515.926.320.5
Dividend per sharen/an/an/an/an/a$0.00$0.00$2.05$2.20$0.50$0.40n/a
Diluted shares, weighted28m28m28m28m27m26m35m36m33m30m51m50m
Shares outstanding at period end0028m27m26m34m34m35m30m29m51m50m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2015FY2016FY2017FY2018FY2019FY2020 †FY2021 †FY2022FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity1,0626582044104355546731,1661,3431,5683,6783,719
Non-controlling interestn/a1421391421370.0n/an/an/an/an/an/a
Debtn/a302876826686601605347184183395405
Operating lease liabilitiesn/an/an/an/a55.435.715.315.110.45.510.8n/a
Finance lease liabilitiesn/an/an/an/a9.036.226.613.24.215.336.9n/a
Other liabilitiesn/a1,5851,4871,3831,3711,2971,2541,1631,1331,1072,0091,998
Total liabilities and equityn/a2,6872,7072,7612,6942,5232,5742,7042,6752,8806,1306,122
Owned
Fixed assets2,3252,1802,1222,1072,0922,0491,9791,9601,9031,922n/an/a
Investmentsn/an/an/an/an/an/an/a0.081.952.0n/an/a
Cash and equivalents6.613.315423680.350.9150273199408432473
Receivablesn/a95.713287.6132118104158148137349355
Inventoryn/a50.253.448.654.156.262.966.388.296.2375381
Other assets5363482462823362492782472552654,9744,913
Total assets2,8682,6872,7072,7612,6942,5232,5742,7042,6752,8806,1306,122
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded11.3%32.5%25.6%29.8%
Profit growth, compoundedn/an/an/a385.6%
Return on equity, average20.0%21.6%21.0%-4.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Core Natural Resources' revenue in fiscal 2025?

Core Natural Resources (CNR) reported revenue of $4.2 billion for fiscal 2025, the year ended 31 December 2025, up 92.4% on the year before.

How much did Core Natural Resources earn in fiscal 2025?

Net loss was $153 million for fiscal 2025, and the diluted loss per share $2.98.

What is Core Natural Resources' P/E ratio?

At the close of 9 October 2026, Core Natural Resources traded at 44.4 times its earnings over the twelve months to 30 June 2026.

What is Core Natural Resources' market cap?

The market cap of Core Natural Resources was $4.4 billion at the close of 9 October 2026.

Does Core Natural Resources pay a dividend?

Yes. Core Natural Resources declared $0.40 a share in dividends over the four quarters to 30 June 2026.

Peers: Coal

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Warrior MET Coal, Inc. HCC$4.9 billion22.389.6%13.6%37.5%0.070.3%
Core Natural Resources, Inc. CNR$4.4 billion44.442.7%1.9%29.8%0.110.5%
Peabody Energy Corp. BTU$3.1 billionn/a-5.6%-5.6%-0.7%0.101.2%
Alpha Metallurgical Resources, Inc. AMR$2.3 billionn/a-3.1%-2.2%-12.9%0.011.1%
1 company shares its SEC industry code (Silver Ores); the rest are the names nearest in size in its wider industry, Coal, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K/A31 December 202527 February 2026EDGAR
10-K31 December 202517 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20255 August 2025EDGAR
10-Q31 March 20258 May 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 20245 November 2024EDGAR
10-Q30 June 20248 August 2024EDGAR

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