CNX Resources Corp (CNX)

Debt-to-assets ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	1,838,230	1,888,710	2,205,740	2,214,120	2,401,430
Total assets	US$ in thousands	8,511,900	8,626,660	8,515,770	8,100,750	8,041,760
Debt-to-assets ratio		0.22	0.22	0.26	0.27	0.30

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,838,230K ÷ $8,511,900K
= 0.22

The debt-to-assets ratio for CNX Resources Corp has shown a consistent decline over the past five years. The ratio decreased from 0.30 as of December 31, 2020, to 0.22 as of December 31, 2024. This indicates that the company has been reducing its reliance on debt financing in relation to its total assets. A lower debt-to-assets ratio suggests a stronger financial position and lower financial risk, as a larger proportion of assets is funded by equity rather than debt. CNX Resources Corp's decreasing debt-to-assets ratio is a positive trend that may be indicative of effective financial management and improved stability within the company.