CNRNYSESilver OresFiscal year ends December 31
Core Natural Resources, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$89.90−0.45 (-0.50%)
Close on Oct 19, 2026
- Market cap
- $4.54B
- P/E (TTM)
- 45.2
- Dividend yield
- 0.44%
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
14.9%
Operating margin
-4.4%
Net margin
-3.7%−2.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +92.4% | +25.6% | +32.5% | +11.3% | |
| Gross profit | -15.4% | – | – | – | |
| Free cash flow | -92.9% | -64.7% | -13.3% | -17.7% | |
| Dividend per share | -20.0% | -42.0% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -2.0% | -5.8% | |
| Return on assets | 1.5% | -0.4% | -3.4% | |
| Current ratio | 0.53 | 0.80 | 1.60 | |
| Debt to equity | 0.46 | 1.09 | 0.12 | |
| Net debt to EBITDA | – | – | 0.05× | |
| Interest coverage | – | – | -4.5× | |
| Inventory turnover | – | – | 15.1× | |
| Capex to revenue | 4.4% | 8.4% | 6.8% | |
| Diluted shares | 28M | 26M | 51M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Core Natural Resources generated $2.60B from operations and spent $1.82B on capital expenditure, dividends and share buybacks. 51% of that went back into the business.
Generated
$2.60B
Used
$1.82B
Capital expenditure$934.62M51%Dividends$189.08M10%Share buybacks$694.52M38%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-3.7%
×Asset turnover0.92×
×Equity multiplier1.72×
=Return on equity, FY2025-5.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -3.7% | 0.92× | 1.72× | -5.8% |
| FY2024 | 13.2% | 0.78× | 1.91× | 19.7% |
| FY2023 | 26.2% | 0.93× | 2.14× | 52.3% |
| FY2022 | 22.2% | 0.80× | 2.87× | 50.8% |
| FY2021 | 2.7% | 0.49× | 4.16× | 5.6% |
| FY2020 | -1.0% | 0.39× | 5.28× | -2.0% |
| FY2019 | 5.3% | 0.52× | 6.45× | 18.0% |
| FY2018 | 10.0% | 0.56× | 8.90× | 49.8% |
| FY2017 | 4.8% | 0.52× | 6.26× | 15.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$153.22M
- Cash generatingOperating cash flow above zero$305.75M
- Return on assets improvedROA up on the prior year10.7% → -5.3%
- Earnings backed by cashOperating cash flow above net income$305.75M vs -$153.22M
- Less leverageLong-term debt to assets fell2.8% → 5.8%
- Better liquidityCurrent ratio rose1.52 → 1.60
- No dilutionShare count did not rise30M → 51M
- Gross margin improvedGross margin up on the prior year33.86% → 14.89%
- More efficientAsset turnover rose0.81 → 1.45