What is CNX Resources Corp worth?
With the base-case assumptions below, a discounted cash flow model on CNX Resources Corp's reported free cash flow gives $77.12 per share. The share price was $32.79 on September 25, 2026, 57% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 7.0% | 10.0% | $42.58 | +30% |
| Base | 12.0% | 9.0% | $77.12 | +135% |
| Bull | 17.0% | 8.0% | $145.93 | +345% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $103.44 | $111.58 | $121.53 | $133.97 | $149.96 |
| 8.0% | $83.72 | $89.00 | $95.24 | $102.72 | $111.87 |
| 9.0% | $69.35 | $72.96 | $77.12 | $81.98 | $87.72 |
| 10.0% | $58.43 | $60.99 | $63.90 | $67.23 | $71.06 |
| 11.0% | $49.87 | $51.75 | $53.85 | $56.22 | $58.90 |
Where the presets come from
Base: years 1 to 5 grow at CNX Resources Corp's revenue growth rate over the last 5 fiscal years (12.2% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions