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 $76.75 per share. The share price was $37.12 on November 10, 2026, 52% 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% | $42.21 | +14% |
| Base | 12.0% | 9.0% | $76.75 | +107% |
| Bull | 17.0% | 8.0% | $145.56 | +292% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $103.07 | $111.21 | $121.16 | $133.60 | $149.59 |
| 8.0% | $83.35 | $88.63 | $94.87 | $102.35 | $111.50 |
| 9.0% | $68.98 | $72.59 | $76.75 | $81.61 | $87.35 |
| 10.0% | $58.06 | $60.62 | $63.53 | $66.86 | $70.69 |
| 11.0% | $49.50 | $51.38 | $53.48 | $55.85 | $58.53 |
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