CNR

Core Natural Resources, Inc.

$87.31

-2.88% 2026-10-20

EnergyS&P 600

1M 3M 6M 1Y 2Y

CNRSPY

-4.6%

-4.1%

+3.7%

-1.3%

YTD

-1.0%

-4.3%

Live chart

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Grades vs sector

Momentum

23rd pct in sector

12-1 return: +9.2%
Percentile within its GICS sector across the S&P 1500.

Growth

22nd pct in sector

Revenue growth (YoY): +3.5%
Percentile within its GICS sector across the S&P 1500.

Value

49th pct in sector

C+

Forward E/P: 7.4% · EBITDA/EV: 12.4%
Percentile within its GICS sector across the S&P 1500.

Profitability

18th pct in sector

Profit margin: +2.3% · Return on equity: +2.7%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth

not ranked (outside this model's universe or screens)

Momentum Top 15

not ranked (outside this model's universe or screens)

Momentum Blend

not in the current book

New Highs Growth

not ranked (outside this model's universe or screens)

Conviction 20

not in the current book

News

More news

1 Energy Stock on Our Watchlist and 2 Facing Headwinds

StockStory · Oct 19

Key stats

Market cap$4.3B

P/E (trailing)44.1

P/E (forward)13.1

52-week range74.75 – 114.80

Revenue growth (YoY, latest qtr)+3.5%

Dividend yield0.44%

Analyst consensusStrong Buy (4)

Mean price target$109.50 (+25%)

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Leans undervalued

Model read-out from the numbers below, not advice. Score +2 (DCF counts double).

▲DCF (base case)above the price by 281%

•Forward P/E vs sector13.1x vs median 13.6x

▼Piotroski F-score3/9

•Altman Z2.1 (grey)

▲Net debt / EBITDA-0.2x

▲Analyst target+25% (4 analysts)

Discounted cash flow

CyclicalValued on average-cycle margins

Bear

$208

+139%

growth 8% · disc. 10.2% · term. 2.0%

Base

$332

+281%

growth 13% · disc. 9.2% · term. 2.5%

Bull

$507

+481%

growth 16% · disc. 8.2% · term. 3.0%

Starting cash flow is mid-cycle: 14.2% average margin × current revenue = 0.6B (last 12 months: 0.3B at a 6% margin). On trailing cash flow the base case would be $144.

Reverse DCFfor context, not a signal

Today's price implies shrinking cash flows: about -8% a year for 10 years.

Implied

-8%/yr

FCF, last 3 yrs

-65%/yr

FCF, last 5 yrs

-13%/yr

Revenue, last 3 yrs

+22%/yr

Revenue, last 5 yrs

+36%/yr

Same inputs as the DCF above: mid-cycle free cash flow 0.6B, 9.2% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.25 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Energy

P/E (trailing)

sector median 17.7× · 79th pct

44.1×
pricier

Forward P/E

sector median 13.6× · 48th pct

13.1×
cheaper

EV / EBITDA

sector median 8.1× · 23rd pct

5.8×
cheaper

Price / sales

sector median 2.2× · 20th pct

1.0×
cheaper

Price / book

sector median 1.9× · 14th pct

1.2×
cheaper

FCF yield

sector median 7.7% · 39th pct

6.0%
pricier

Forward EPS $6.64 vs trailing $1.98 (+236% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$3.6B

as of 2026-06-30

vs a year ago

–

YoY

× TTM revenue

0.84×

coverage

25-12

26-03

26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

–

Operating margin

1.9%

FCF margin

6.1%

Net margin

2.3%

Return on equity

2.7%

Return on invested capital

2.2%

Net debt / EBITDA

-0.2×

Current ratio

1.8×

Interest cover

1.8×

Cash conversion (OCF/NI)

5.6×

Piotroski F-score 3/9 · last two fiscal years

✗ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✓ Current ratio improved✗ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 2.1 (grey zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$110

+25%

Analysts

Strong Buy

Range

$105–$118

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$4.2B	$-153.2M	$21.2M
2024	$2.2B	$286.4M	$298.4M
2023	$2.5B	$655.9M	$690.2M
2022	$2.3B	$467.0M	$479.5M
2021	$1.3B	$34.1M	$172.8M
2020	$879.5M	$-9.8M	$43.3M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +22.2%.

Earnings

Next report: 2026-11-05 · before open · EPS est 0.73

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-08-06	0.64	2.51	+292.4%
2026-05-07	0.13	0.54	+332.1%
2026-02-12	-0.59	-1.54	-160.8%
2025-11-06	-0.80	0.78	+196.3%
2025-08-05	0.65	-0.68	-205.8%
2025-05-08	1.61	-0.24	-114.8%
2025-02-20	2.27	1.04	-54.2%
2024-11-05	3.17	3.53	+11.4%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$1.1B	+3.5%
2026-03-31	$1.1B	–
2025-12-31	$1.0B	–
2025-09-30	$1.0B	–
2025-06-30	$1.1B	–

Analyst actions

UBS

2026-08-19 · down

Buy → Neutral
PT $105

UBS

2026-06-30 · main

Buy → Buy
PT $100

UBS

2026-03-24 · main

Buy → Buy
PT $115

UBS

2026-03-12 · main

Buy → Buy
PT $109

Jefferies

2025-10-10 · up

Hold → Buy
PT $125

UBS

2025-10-08 · main

Buy → Buy
PT $106

Recent dividends

2026-08-31: $0.100 · 2026-05-29: $0.100 · 2026-03-02: $0.100 · 2025-11-28: $0.100 · 2025-08-29: $0.100 · 2025-05-30: $0.100 · 2025-03-03: $0.100 · 2024-11-15: $0.250

Stats refreshed 2026-10-20 18:03:20 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

coteau

Coteau Systematic Strategies publishes stock research and model portfolios. It doesn't manage money or give investment advice. Results are hypothetical unless marked Live. Data: Yahoo Finance (delayed) and SEC EDGAR.

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