CNX Resources Corp (CNX)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	1,720,716	2,381,311	1,932,858	1,491,260	-142,076	-686,343	-1,132,192	-1,519,608	-498,642	-933,197	-264,974	-56,664	-483,775	-950,941	-630,705	-322,479	-80,730	292,605	302,096	181,633
Total stockholders’ equity	US$ in thousands	4,361,020	3,957,310	3,983,190	3,567,300	2,950,460	1,976,990	2,537,020	2,569,510	3,700,270	3,186,520	4,136,930	4,510,410	4,422,440	4,270,180	3,746,420	3,836,330	4,160,550	4,434,980	4,325,660	4,215,510
ROE		39.46%	60.17%	48.53%	41.80%	-4.82%	-34.72%	-44.63%	-59.14%	-13.48%	-29.29%	-6.41%	-1.26%	-10.94%	-22.27%	-16.83%	-8.41%	-1.94%	6.60%	6.98%	4.31%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $1,720,716K ÷ $4,361,020K
= 39.46%

CNX Resources Corp's return on equity (ROE) has shown significant variability over the past eight quarters. The ROE ranged from a low of -59.14% in Q1 2022 to a high of 60.17% in Q3 2023. The negative ROE in Q1 2022 suggests that the company's net income was insufficient to cover its equity, indicating financial distress or operational inefficiencies.

The improvement in ROE in subsequent quarters reflects a positive turnaround in the company's financial performance. However, the fluctuations in ROE indicate a degree of volatility in CNX Resources Corp's profitability and efficiency in generating returns for its shareholders.

Overall, the recent positive trend in ROE suggests that CNX Resources Corp has been able to enhance its profitability and effectively utilize its equity to generate returns. Monitoring future ROE trends will be essential to assess the sustainability of the company's financial performance and evaluate its ability to create value for shareholders.