CNX Resources Corp (CNX)

Debt-to-equity 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-equity ratio		0.45	0.43	0.75	0.60	0.54

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,838,230K ÷ $4,098,030K
= 0.45

Based on the data provided, CNX Resources Corp's debt-to-equity ratio has experienced fluctuations over the past five years.

As of December 31, 2020, the debt-to-equity ratio was 0.54, indicating that the company had more equity relative to its debt. However, by the end of December 31, 2021, the ratio increased to 0.60, suggesting a slight increase in the company's debt compared to its equity.

The ratio further increased to 0.75 by December 31, 2022, indicating a higher level of debt relative to equity. This could potentially signal increased borrowing or reduced equity during that period.

However, the ratio decreased significantly to 0.43 by December 31, 2023, which may indicate a reduction in debt or an increase in equity during that period.

By December 31, 2024, the debt-to-equity ratio slightly increased to 0.45, showing a modest increase in debt compared to equity.

Overall, the fluctuations in CNX Resources Corp's debt-to-equity ratio suggest varying levels of financial leverage over the five-year period, highlighting the importance of monitoring the company's capital structure and debt management practices.