CNR
Core Natural Resources, Inc.
CNR's fundamentals are strong, but it looks expensive: trading at 54x earnings, about seven times its usual 7.3x.
CNR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
CNR's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
CNR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.7x | $5.94 | -93% |
| Fair | 7.2x | $11.41 | -87% |
| Expensive | 44x | $69.92 | -18% |
| Current | 54x | $85.46 | — |
Historical ranges are pointers, not guarantees.
CNR's PE is in its expensive range at 54x.
CNR Forward outlook
There aren't enough analyst estimates for CNR to show an outlook.
CNR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $1.59 | +$2.02 |
| Q2 2026 | $2.02 | -7.3% |
| Q1 2026 | -$1.19 | -125% |
| Q4 2025 | -$2.98 | -131% |
| Q3 2025 | -$0.43 | -103% |
| Q2 2025 | $2.18 | -84% |
| Q1 2025 | $4.84 | -71% |
| Q4 2024 | $9.61 | -51% |
CNR has returned to profit: it earned $1.59 per share over the past year, after losing money the year before.
CNR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +14% |
| Q2 2026 | $1.1B | +3.5% |
| Q1 2026 | $1.1B | +6.6% |
| Q4 2025 | $1B | +75% |
| Q3 2025 | $1B | +74% |
| Q2 2025 | $1.1B | +120% |
| Q1 2025 | $1B | +80% |
| Q4 2024 | $595.3M | -8.3% |
CNR's revenue has grown year over year for seven quarters in a row: $1.1B last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0.6% | +1.8 points |
| Q2 2026 | 14% | +15 points |
| Q1 2026 | 3% | +8.3 points |
| Q4 2025 | -9.3% | -15 points |
| Q3 2025 | -1.2% | -21 points |
| Q2 2025 | -1.8% | -15 points |
| Q1 2025 | -5.3% | -26 points |
| Q4 2024 | 5.3% | -22 points |
CNR's operating margin was 0.6% last quarter, up 1.8 points from the same quarter a year ago.
CNR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $80.1M | +107% |
| Q2 2026 | $148.5M | +13% |
| Q1 2026 | $46.3M | +$220.8M |
| Q4 2025 | $26M | -68% |
| Q3 2025 | $38.6M | -68% |
| Q2 2025 | $131M | +115% |
| Q1 2025 | -$174.5M | -597% |
| Q4 2024 | $80.5M | -52% |
CNR still generates free cash flow, though less than at its 2023 peak: $301M over the past year.
CNR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.5% | -780K shares |
| 1 year | -3.7% | -1.9M shares |
| 3 years | +46% | +15.7M shares |
| 5 years | +42% | +14.6M shares |
| Available history | +84% | +22.6M shares |
CNR has 50M diluted shares, down 3.7% from a year ago, with $211M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $84.7M |
| Q2 2026 | $63M |
| Q1 2026 | $41.9M |
| Q4 2025 | $21.7M |
| Q3 2025 | $19.4M |
| Q2 2025 | $81.9M |
| Q1 2025 | $101.3M |
| Q4 2024 | — |
CNR spent $211M buying back its own shares over the past year, up 4.3% from the year before.
CNR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.0x | Very low |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
CNR's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
CNR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.5 | Neutral |
| Stochastic | 30.6 | Neutral |
CNR's weekly RSI is 46 (neutral) and its Stochastic is 31 (neutral).
CNR PE vs Energy Sector
| Metric | CNR | Sector median | Relative |
|---|---|---|---|
| PE | 54x | 13x | 310% above |
| PE % | 91 | 61 | 30 pts above |
CNR is trading at 54x earnings, a 310% premium to the Energy sector's median of 13x.
CNR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $87.6 | 2.4% below |
| 20 week MA | $88.9 | 3.8% below |
| 50 week MA | $90.1 | 5.2% below |
| 100 week MA | $84.8 | 0.8% above |
| 200 week MA | $86.1 | 0.7% below |
CNR's trend is mixed: it's above one of its five weekly moving averages, and 0.7% below its 200-week average.
CNR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.8 | $6.59 | -56% |
| 2021 | $6.59 | $24.3 | +269% |
| 2022 | $24.3 | $72.6 | +198% |
| 2023 | $72.6 | $100.5 | +38% |
| 2024 | $100.5 | $102.8 | +2.3% |
| 2025 | $102.8 | $88.6 | -14% |
| 2026 YTD | $88.6 | $85.5 | -3.5% |
CNR's yearly returns have swung widely, from +269% in 2021 to −56% in 2020. It's down 3.5% so far in 2026.