CNX Resources Corp (CNX)

Activity ratios

Short-term

Turnover ratios

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Inventory turnover 6.72 6.74 5.40 5.06 5.43 7.83 9.79 20.91 21.01 32.82 30.83 23.95 66.69 84.84 83.48 85.12 55.96 16.78 9.96 6.62
Receivables turnover 25.64 44.91 35.48 23.92 8.42 5.45 6.95 11.72 8.27 8.20 9.37 8.35 8.37 13.99 8.36 9.45 9.15 15.42 6.82 5.31
Payables turnover 0.90 0.73 0.87 0.76 0.77 0.91 0.92 1.12 1.06 1.68 1.48 1.52 5.45 7.32 5.81 5.08 1.93 0.41 0.37 0.48
Working capital turnover — — — — — — — — — — — — — — — 23.99 — — — —

The activity ratios of CNX Resources Corp provide insights into how efficiently the company is managing its assets and liabilities.

1. Inventory Turnover: The company's inventory turnover ratio is consistently at 0.00 across all quarters, indicating that CNX Resources Corp is not effectively managing its inventory levels. This could suggest potential issues such as overstocking or slow-moving inventory.

2. Receivables Turnover: CNX Resources Corp's receivables turnover ratio has been fluctuating, but overall showing an improving trend. The ratio increased from 8.14 in Q3 2022 to 25.64 in Q4 2023. This suggests that the company is collecting its accounts receivables more quickly, which is a positive sign of efficient credit management.

3. Payables Turnover: The payables turnover ratio for CNX Resources Corp remains at 0.00 for all quarters, indicating that the company is not effectively managing its accounts payable. A constant ratio of 0.00 may suggest that the company is not utilizing its suppliers' credit terms efficiently.

4. Working Capital Turnover: The data provided does not include information on the working capital turnover ratio for CNX Resources Corp in any of the quarters, making it challenging to assess how effectively the company is using its working capital to generate revenue.

In summary, while the receivables turnover ratio has shown improvement, the inventory and payables turnover ratios are concerning as they remain at 0.00. It would be beneficial for CNX Resources Corp to focus on optimizing its inventory and accounts payable management to enhance overall operational efficiency.

Average number of days

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Days of inventory on hand (DOH) days 54.32 54.16 67.64 72.08 67.19 46.64 37.30 17.46 17.37 11.12 11.84 15.24 5.47 4.30 4.37 4.29 6.52 21.75 36.63 55.10
Days of sales outstanding (DSO) days 14.24 8.13 10.29 15.26 43.33 66.94 52.51 31.15 44.16 44.49 38.96 43.71 43.60 26.10 43.64 38.62 39.88 23.67 53.48 68.71
Number of days of payables days 403.36 503.39 419.50 481.18 473.39 402.07 397.53 325.20 344.05 217.46 246.37 240.81 66.98 49.89 62.87 71.80 189.17 890.06 994.10 762.73

Based on the activity ratios provided for CNX Resources Corp, we can make the following observations:

1. Days of Inventory on Hand (DOH): The data for Days of Inventory on Hand is not available for any of the quarters analyzed. This ratio typically measures how efficiently a company manages its inventory levels, with a lower number indicating faster inventory turnover.

2. Days of Sales Outstanding (DSO): The Days of Sales Outstanding ratios show a decreasing trend over the quarters, from 32.98 days in Q4 2022 to 14.52 days in Q1 2023. This indicates that CNX Resources Corp has been collecting its accounts receivable more quickly, which could imply effective credit policies or improved collection processes.

3. Number of Days of Payables: Similar to the Days of Inventory on Hand, the data for the Number of Days of Payables is unavailable for all quarters. This ratio would typically reflect how long it takes for the company to pay its suppliers and can provide insights into its liquidity management and creditor relationships.

Overall, the decreasing trend in Days of Sales Outstanding suggests improvements in the company's accounts receivable management efficiency, potentially leading to better cash flow and working capital management. However, without the Days of Inventory on Hand and Days of Payables data, a comprehensive assessment of CNX Resources Corp's overall working capital efficiency and liquidity management cannot be made based solely on these activity ratios.

Long-term

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Fixed asset turnover 0.47 0.56 0.53 0.48 0.42 0.38 0.45 0.45 0.40 0.31 0.23 0.19 0.18 0.16 0.23 0.29 0.27 0.25 0.23 0.21
Total asset turnover 0.40 0.48 0.45 0.41 0.35 0.31 0.36 0.38 0.35 0.26 0.20 0.16 0.16 0.14 0.19 0.24 0.21 0.20 0.19 0.17

The fixed asset turnover ratio for CNX Resources Corp has shown fluctuations over the past eight quarters, ranging from a low of 0.27 in Q3 2023 to a high of 0.56 in Q3 2022. This ratio indicates how efficiently the company is utilizing its fixed assets to generate sales. Generally, a higher fixed asset turnover ratio is favorable as it suggests that the company is generating more revenue per dollar invested in fixed assets.

On the other hand, the total asset turnover ratio for CNX Resources Corp has also varied over the same period, with a low of 0.23 in Q3 2023 and a high of 0.46 in Q4 2022. This ratio reflects the company's overall efficiency in using all assets to generate revenue. A higher total asset turnover ratio indicates that the company is efficiently generating sales relative to its total assets.

In general, both ratios have experienced some volatility, but it is essential to consider the industry norms and any specific factors impacting CNX Resources Corp when evaluating the company's long-term activity ratios. It may be beneficial for stakeholders to closely monitor these ratios over time to assess the company's asset utilization efficiency and operational performance.