CNX Resources Corp (CNX)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total assets	US$ in thousands	8,626,660	8,515,770	8,100,750	8,041,760	9,060,810
Total stockholders’ equity	US$ in thousands	4,361,020	2,950,460	3,700,270	4,422,440	4,160,550
Financial leverage ratio		1.98	2.89	2.19	1.82	2.18

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $8,626,660K ÷ $4,361,020K
= 1.98

The financial leverage ratio of CNX Resources Corp has exhibited some fluctuations over the past five years. The ratio stood at 1.98 in 2023, indicating that the company's level of debt relative to its equity was moderate. This figure represents a decrease from the previous year, where the ratio was 2.89, reflecting a significant reduction in leverage.

Comparing the 2023 ratio to 2021 and 2020, CNX Resources Corp appears to have had varying levels of financial leverage in those years, with the ratio fluctuating between 1.82 and 2.19. Notably, the 2023 ratio is closer to the 2020 and 2019 ratios of 2.18, suggesting a return to a similar level of leverage as seen in those years.

Overall, the trend in CNX Resources Corp's financial leverage ratio indicates fluctuations in the company's capital structure and debt levels over the past five years. It is important for stakeholders to monitor these changes to assess the company's risk profile and financial health.