CNX Resources Corp (CNX)
Financial leverage ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 8,511,900 | 8,538,050 | 8,602,950 | 8,656,640 | 8,626,660 | 8,492,640 | 8,531,860 | 8,340,140 | 8,515,770 | 8,633,130 | 8,695,890 | 8,223,520 | 8,100,750 | 8,228,150 | 8,072,110 | 8,069,240 | 8,041,760 | 8,129,170 | 8,319,680 | 8,528,950 |
| Total stockholders’ equity | US$ in thousands | 4,098,030 | 4,256,720 | 4,250,640 | 4,309,320 | 4,361,020 | 3,957,310 | 3,983,190 | 3,567,300 | 2,950,460 | 1,976,990 | 2,537,020 | 2,569,510 | 3,700,270 | 3,186,520 | 4,136,930 | 4,510,410 | 4,422,440 | 4,270,180 | 3,746,420 | 3,836,330 |
| Financial leverage ratio | 2.08 | 2.01 | 2.02 | 2.01 | 1.98 | 2.15 | 2.14 | 2.34 | 2.89 | 4.37 | 3.43 | 3.20 | 2.19 | 2.58 | 1.95 | 1.79 | 1.82 | 1.90 | 2.22 | 2.22 |
December 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $8,511,900K ÷ $4,098,030K
= 2.08
The financial leverage ratio of CNX Resources Corp has fluctuated over the past few years, ranging from a low of 1.79 to a high of 4.37. The ratio measures the extent to which the company relies on debt to finance its operations, assets, and growth. A higher ratio indicates a higher level of financial leverage, suggesting that the company is more reliant on debt financing.
CNX Resources Corp experienced a significant increase in its financial leverage ratio from 1.79 in March 2021 to 4.37 in September 2022, indicating a substantial increase in debt relative to equity during that period. This spike may have been driven by strategic decisions to fund expansion projects or acquisitions.
Subsequently, the financial leverage ratio declined to 1.98 by December 2023, suggesting a reduction in the company's reliance on debt financing. The ratio remained relatively stable around 2.00 in the following quarters, indicating a more balanced mix of debt and equity in the company's capital structure.
Overall, CNX Resources Corp's financial leverage ratio shows variability over time, with fluctuations that may reflect shifts in the company's financial strategy, investment decisions, and overall capital structure management. Investors and stakeholders should monitor these changes to assess the company's risk profile and financial health.
Peer comparison
Dec 31, 2024