CNX Resources Corp (CNX)

Debt-to-capital 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 stockholders’ equity US$ in thousands 4,098,030 4,361,020 2,950,460 3,700,270 4,422,440
Debt-to-capital ratio 0.31 0.30 0.43 0.37 0.35

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,838,230K ÷ ($1,838,230K + $4,098,030K)
= 0.31

The debt-to-capital ratio of CNX Resources Corp has shown some fluctuations over the years based on the data provided. As of December 31, 2020, the ratio was 0.35, indicating that 35% of the company's capital structure was funded by debt. By the end of 2021, the ratio increased to 0.37, suggesting a slight increase in the proportion of debt in the company's capitalization.

In the following year, by December 31, 2022, the debt-to-capital ratio further rose to 0.43, reaching its highest point in the provided data series. This indicates a significant increase in the reliance on debt financing compared to equity. However, the ratio then decreased to 0.30 by the end of 2023, signaling a reduction in the proportion of debt relative to capital.

In the most recent period analyzed, by December 31, 2024, the debt-to-capital ratio slightly increased to 0.31. Overall, the trend of the debt-to-capital ratio for CNX Resources Corp has been somewhat fluctuating during the period under consideration, reflecting varying levels of debt utilization in the company's capital structure.