CNX Resources Corp (CNX)

Return on equity (ROE)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	1,720,720	-142,077	-498,643	-483,775	-80,730
Total stockholders’ equity	US$ in thousands	4,361,020	2,950,460	3,700,270	4,422,440	4,160,550
ROE		39.46%	-4.82%	-13.48%	-10.94%	-1.94%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $1,720,720K ÷ $4,361,020K
= 39.46%

CNX Resources Corp's return on equity (ROE) has shown significant improvement over the past five years. In 2019, the ROE was negative at -1.94%, indicating that the company's net income was insufficient to generate a positive return for shareholders. However, by 2020, there was a further decline in ROE to -10.94%, suggesting continued challenges in profitability.

The trend reversed in 2021 when CNX Resources Corp achieved a positive ROE of -13.48%, indicating an improvement in the company's ability to generate profit from shareholders' equity. This positive momentum was maintained in 2022 with ROE increasing to -4.82%.

The most notable improvement occurred in 2023, where CNX Resources Corp's ROE surged to 39.46%, reflecting a substantial increase in profitability and efficiency in the utilization of equity to generate returns for shareholders.

Overall, CNX Resources Corp's ROE has shown a remarkable turnaround, transitioning from negative territory to a highly positive ROE in just a few years, signaling the company's efforts in enhancing shareholder value and operational performance.