Core Natural Resources, Inc. (CNR) stock analysis

P/E above its 5-year median

Core Natural Resources's P/E of 54.8 is above its own 5-year median of 6.3.

P/E above the industry

Core Natural Resources's P/E of 54.8 is above the Energy median of 14.0.

EV/EBITDA above its 5-year median

Core Natural Resources's EV/EBITDA of 5.7 is above its 5-year median of 4.9.

P/B below the industry

Core Natural Resources's price-to-book of 1.17 is below the Energy median of 1.50.

Trading below fair value

The share price of $85.46 is below our fair value estimate of $98.07.

Margin of safety under 20%

The price is 12.9% below fair value, less than the 20% cushion we look for.

Revenue growing 10%+ a year

Revenue grew 25.6% a year over the last three fiscal years.

EPS growth over 3 years

Needs positive EPS three years ago and today.

Earnings acceleration

Needs positive net income now, a year ago and five years ago.

Growing faster than the industry

Revenue grew 19.4% over the last twelve months; the Energy median is 1.9%.

Guidance lowered

Core Natural Resources lowered its 2026 Powder River Basin Cash Cost of Coal Sold per Ton outlook on Nov 5, 2026.

Gross margin slipping

Gross margin was 17.3% over the last twelve months, against 19.1% a year earlier.

Return on equity under 15%

Return on equity was 2.1% over the last twelve months and averaged 24.5% over five years; we look for 15% on both.

Return on capital under 10%

Return on invested capital was 2.7%, below the 10% that usually covers the cost of capital.

Return on equity below the industry

Core Natural Resources's return on equity of 2.1% is below the Energy median of 7.2%.

Earnings over 5 years

Needs positive net income five years ago and in the latest year.

Net margin below its 5-year average

Net margin was 1.8% over the last twelve months, against a 5-year average of 12.1%.

Net margin below the industry

Core Natural Resources's net margin of 1.8% is below the Energy median of 4.9%.

Low debt

Debt is 12.5% of shareholders' equity, under the 40% we consider low.

Debt falling against equity

Debt to equity fell from 109% five years ago to 12.5%.

Debt covered by cash flow

Operating cash flow over the last twelve months equals 143% of total debt.

Interest not well covered

Operating income covers interest expense 2.2 times; we look for at least 5.

Short-term assets cover short-term debts

Current assets are 1.71 times current liabilities.

Bankruptcy risk in the grey zone

The Altman Z-score is 2.13; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

Core Natural Resources paid dividends worth 0.5% of the share price over the last twelve months.

Yield below Treasuries

The 0.5% yield is below the 4.6% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.9% or more; Core Natural Resources yields 0.5%.

Dividend was cut

The dividend per share fell by more than 10% at least once in the last 6 fiscal years.

Covered by earnings

Dividends take 26.2% of net income.

Covered by free cash flow

Dividends take 6.7% of free cash flow.