CNX Resources Corp (CNX)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	1,888,710	2,205,740	2,214,120	2,401,430	2,754,440
Total stockholders’ equity	US$ in thousands	4,361,020	2,950,460	3,700,270	4,422,440	4,160,550
Debt-to-equity ratio		0.43	0.75	0.60	0.54	0.66

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,888,710K ÷ $4,361,020K
= 0.43

The debt-to-equity ratio of CNX Resources Corp has fluctuated over the past five years, ranging from 0.51 to 0.75. A decreasing trend is observed from 2019 to 2020, indicating a potential improvement in the company's financial leverage. However, there was an increase in the ratio in 2021, followed by a slight decrease in 2022 and another decrease in 2023. The current ratio of 0.51 in 2023 suggests that the company has a lower level of debt relative to equity compared to previous years, which may imply a more conservative approach to financing and lower financial risk. Overall, it is essential for stakeholders to monitor this ratio to assess the company's capital structure and financial stability effectively.