Core Natural Resources, Inc. Financial Ratios — CNR Stock

Profitability (USD)

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	34.34	-3.85	12.91	98.26	81.28	27.19	-15.47
Return on Assets (%)	- -	21.41	1.49	2.51	5.6	2.79	-0.37	1.34	17.7	24.39	10.31	-3.4
Return on Capital (%)	- -	136.87	9.64	9.06	19.02	10.24	- -	9.93	50.3	61.03	24.19	- -
Return on Invested Capital (%)	- -	39.05	-0.52	4.33	15.46	9.14	- -	7.37	45.14	43.06	20.39	- -
Gross Margin (%)	86.33	83.9	80.36	81.41	83.38	83.51	71.49	73.96	82.05	35.41	23.54	-0.03
EBITDA Margin (%)	27.9	42.13	14.85	20.99	28.34	24.77	11.28	25.75	45.25	41.68	28.54	9.73
Operating Margin (%)	15.61	27.55	-0.72	7.98	14.68	9.72	-12.69	7.94	35.3	32.05	18.21	-5.19
Incremental Operating Margin (%)	- -	-31.39	- -	63.9	73.16	84.84	- -	55.5	69.15	-0.64	119.54	12.34
Pretax Margin (%)	24.52	33.05	5.69	12.85	12.74	7.13	-1.05	2.81	24.93	31.03	15.28	-5.61
Profit Margin (%)	17.31	22.9	3.63	5.12	10.39	5.53	-1.11	2.7	20.48	26.17	13.23	-3.68
Net Income to Common Margin (%)	17.31	22.9	3.63	5.12	10.39	5.53	-1.11	2.7	20.48	26.17	13.23	-3.68
Effective Tax Rate (%)	29.43	28.35	22.4	51.37	4.71	4.63	- -	3.66	17.85	15.68	13.38	- -
Dvd Payout Ratio (%)	144.93	140.64	456.15	596.36	8.91	- -	- -	- -	15.31	11.51	5.54	-17.14
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	34.34	-3.85	12.91	83.21	71.93	25.68	-18.12

Credit (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	288	318	888	869	788	713	674	404	212	208	452
ST Debt	- -	1	4	22	135	70	74	64	34	16	113	98
LT Debt	- -	287	314	865	734	718	639	610	370	196	95	354
Total Debt/EBITDA	- -	0.51	1.87	3.2	2.08	2.31	7.19	2.08	0.39	0.2	0.34	1.12
Net Debt/EBITDA	- -	0.5	1.7	2.61	1.46	1.83	5.75	1.46	0.09	-0.01	-0.35	-0.04
Total Debt/EBIT	- -	0.78	-38.37	8.42	4.02	5.9	-6.39	6.73	0.5	0.26	0.53	-2.1
Net Debt/EBIT	- -	0.76	-34.89	6.88	2.81	4.67	-5.11	4.75	0.12	-0.01	-0.55	0.08
EBITDA to Interest Expense	- -	74.85	12.09	10.63	4.98	5.13	1.62	5.13	19.6	35.62	27.84	10.1
EBITDA-CapEx/Interest Expense	- -	74.85	12.09	10.63	4.98	5.13	1.62	5.13	19.6	35.62	27.84	10.1
EBIT to Interest Expense	- -	48.96	-0.59	4.04	2.58	2.01	-1.82	1.58	15.29	27.39	17.76	-5.38
Interest Expense	- -	8	14	26	84	66	61	63	53	29	22	40
Common Equity/Total Assets	- -	- -	- -	-1.6	6.61	9.66	9.8	10.93	24.75	35.31	40.37	13.36
Long-Term Debt/Equity (%)	- -	26.98	39.2	251.8	133.11	125.48	115.39	90.65	31.77	14.62	6.04	9.63
Long-Term Debt/Capital (%)	- -	64.93	68.15	87.96	61.54	60.59	66.53	63.85	34.51	16.98	6.92	27.85
Long-Term Debt/Total Assets (%)	- -	9.99	11.67	31.96	26.6	26.66	25.31	23.7	13.7	7.34	3.29	5.78
Total Debt/Equity (%)	- -	27.08	39.71	258.34	157.55	137.67	128.78	100.17	34.67	15.8	13.24	12.3
Total Debt/Capital (%)	- -	65.16	69.04	90.25	72.84	66.48	74.25	70.55	37.65	18.35	15.16	35.59
Total Debt/Total Assets (%)	- -	10.03	11.82	32.79	31.48	29.25	28.25	26.19	14.95	7.94	7.21	7.38
Net Debt to Equity	- -	26.35	36.11	211.02	110.16	108.98	102.95	70.67	8.4	-0.47	-13.76	-0.45
Net Debt/Capital (%)	- -	64.37	64.64	87.4	63.47	56.45	62.68	59.04	12.23	-0.67	-22.44	-1.98
EBITDA	469	565	170	277	417	341	99	325	1,032	1,045	618	405
EBITDA-CapEx	469	565	170	277	417	341	99	325	1,032	1,045	618	405
Operating Income (Loss)	262	369	-8	105	216	134	-112	100	805	803	394	-216

Liquidity (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.02	0.04	0.36	0.48	0.2	0.14	0.34	0.61	0.63	0.89	0.52
Current Ratio	- -	0.51	0.53	0.95	0.96	0.86	0.8	0.87	1.33	1.35	1.52	1.6
Quick Ratio	- -	0.29	0.35	0.76	0.74	0.64	0.57	0.6	1.05	1	1.2	1
CFO/Avg Current Liab	- -	1.63	0.89	0.62	0.9	0.55	0.34	0.75	1.46	1.92	0.99	0.45
Common Equity/Total Assets	- -	- -	- -	-1.6	6.61	9.66	9.8	10.93	24.75	35.31	40.37	13.36
Long-Term Debt/Equity (%)	- -	26.98	39.2	251.8	133.11	125.48	115.39	90.65	31.77	14.62	6.04	9.63
Long-Term Debt/Capital (%)	- -	64.93	68.15	87.96	61.54	60.59	66.53	63.85	34.51	16.98	6.92	27.85
Long-Term Debt/Total Assets (%)	- -	9.99	11.67	31.96	26.6	26.66	25.31	23.7	13.7	7.34	3.29	5.78
Total Debt/Equity (%)	- -	27.08	39.71	258.34	157.55	137.67	128.78	100.17	34.67	15.8	13.24	12.3
Total Debt/Capital (%)	- -	65.16	69.04	90.25	72.84	66.48	74.25	70.55	37.65	18.35	15.16	35.59
Total Debt/Total Assets (%)	- -	10.03	11.82	32.79	31.48	29.25	28.25	26.19	14.95	7.94	7.21	7.38
CFO/Total Liabilities	- -	16.15	17.44	10.5	18.72	11.53	6.57	16.08	42.31	64.43	36.33	12.47
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	0.83	0.35	0.86	1.12	0.9	0.36	0.99	3.12	3.99	3.33	1.96

Working Capital (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	33.98	13.1	11.63	13.44	12.55	7.04	11.34	17.39	16.4	15.22	17.14
Days Sales Outstanding	- -	10.74	27.86	31.39	27.15	29.09	51.87	32.18	20.99	22.26	23.98	21.3
Inventory Turnover	- -	8.15	4.36	4.74	4.8	4.41	4.55	5.52	6.34	20.96	17.95	17.69
Days Inventory Outstanding	- -	44.79	83.81	76.94	76.08	82.72	80.3	66.17	57.59	17.41	20.33	20.63
Accounts Payable Turnover	- -	6.01	2.57	2.59	2	1.96	2.85	4.53	3.99	12.27	11.84	18.55
Accounts Payable Turnover Days	- -	60.7	141.79	140.75	182.48	186.35	128.1	80.49	91.44	29.75	30.82	19.68
Cash Conversion Cycle	- -	-5.16	-30.11	-32.42	-79.24	-74.55	4.08	17.87	-12.86	9.92	13.48	22.25
Inventory to Cash Days	- -	-34.05	-55.94	-45.55	-48.93	-53.62	-28.43	-33.99	-36.6	4.85	3.65	0.66
Inventories	- -	53	50	53	49	54	56	63	66	88	96	375
Raw Materials	- -	48	42	42	44	52	49	51	55	71	79	226
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	5	8	11	5	2	7	12	11	17	17	149
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	26	26	30	1,104	886	391	190	782	2,264	3,312	3,166	4,548
- Cash & Cash Equivalents	- -	7	13	154	236	80	51	150	273	199	408	432
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	154	142	139	142	137	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	288	318	888	869	788	713	674	404	212	208	452
Enterprise Value	26	460	477	1,977	1,661	1,236	852	1,306	2,395	3,243	2,914	4,569
Total Capital	- -	441	460	984	1,193	1,185	960	955	1,073	1,157	1,370	1,271
Total Debt/Capital (%)	- -	65.16	69.04	90.25	72.84	66.48	74.25	70.55	37.65	18.35	15.16	35.59
Total Debt / EV	- -	0.62	0.67	0.45	0.52	0.64	0.84	0.52	0.17	0.07	0.07	0.1
EV/Sales	0.02	0.34	0.42	1.5	1.13	0.9	0.97	1.04	1.05	1.29	1.35	1.1
EV/EBITDA	0.06	0.81	2.81	7.13	3.98	3.63	8.59	4.02	2.32	3.1	4.72	11.28
EV/EBIT	0.1	1.25	- -	18.76	7.68	9.24	- -	13.04	2.98	4.04	7.39	- -
EV/Cash Flow to Firm	0.05	1.55	1.4	7.58	3.37	4.01	3.93	3.56	3.45	3.67	5.88	13.76
EV/Free Cash Flow to Firm	0.05	1.55	1.4	7.58	3.37	4.01	3.93	3.56	3.45	3.67	5.88	13.76
Diluted Market Cap	26	26	30	1,113	901	393	190	807	2,322	3,332	3,179	4,548
Diluted Enterprise Value	26	460	477	1,987	1,676	1,238	852	1,331	2,453	3,345	2,979	4,569
EV per Share	0.92	16.41	17.02	70.76	59.46	45.87	32.32	37.92	68.76	98.44	98.17	88.91
TTM Sales	1,681	1,341	1,144	1,321	1,473	1,376	879	1,261	2,280	2,507	2,164	4,165
TTM EBITDA	469	565	170	277	417	341	99	325	1,032	1,045	618	405
TTM Operating Income	262	369	-8	105	216	134	-112	100	805	803	394	-216
TTM Cash Flow to Firm	544	297	340	261	493	308	217	367	694	883	496	332
TTM Free Cash Flow to Firm	544	297	340	261	493	308	217	367	694	883	496	332

Multiples (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	0.05	0.09	0.09	4.49	2.18	1.61	1.47	2.64	3.57	3.88	6.67	14.88
EV/EBIT	0.1	1.25	- -	18.76	7.68	9.24	- -	13.04	2.98	4.04	7.39	- -
Enterprise Value	26	460	477	1,977	1,661	1,236	852	1,306	2,395	3,243	2,914	4,569
Low Price	0.72	0.85	0.85	19.51	26.62	11.71	3.35	6.51	19.11	49.35	75.43	58.19
EV/Sales	0.02	0.34	0.42	1.5	1.13	0.9	0.97	1.04	1.05	1.29	1.35	1.1
EV/EBITDA	0.06	0.81	2.81	7.13	3.98	3.63	8.59	4.02	2.32	3.1	4.72	11.28
Price/Earnings	0.09	0.08	0.73	16.33	5.79	5.14	- -	22.94	4.85	5.05	11.05	- -
Price/Earnings Average	0.09	0.09	0.66	11.15	6.84	8.66	-16.6	18.08	3.9	3.79	10.19	-26.47
Price/Earnings High	0.13	0.14	2.24	17.31	8.79	13.73	-40.86	36.6	5.9	5.74	13.95	-36.76
Price/Earnings Low	0.07	0.08	0.57	8.06	4.86	4.15	-9.05	6.58	1.43	2.48	7.82	-19.52
Price/Book Value	- -	- -	- -	-25.42	4.85	1.5	0.77	2.78	3.38	3.51	2.72	5.55
Price/Book Value Average	- -	- -	- -	-17.37	5.73	2.53	0.66	2.19	2.72	2.63	2.51	4.95
Price/Book Value High	- -	- -	- -	-26.95	7.37	4.01	1.61	4.44	4.12	3.99	3.44	6.88
Price/Book Value Low	- -	- -	- -	-12.55	4.08	1.21	0.36	0.8	0.99	1.72	1.93	3.65
Price/Tangible Book Value	- -	0.02	0.04	3.21	1.61	0.68	0.34	1.16	1.94	2.47	2.02	1.24
Price/Tangible Book Value Average	- -	0.03	0.03	2.2	1.9	1.15	0.29	0.92	1.56	1.85	1.86	1.1
Price/Tangible Book Value High	- -	0.04	0.12	3.41	2.44	1.82	0.72	1.86	2.36	2.8	2.55	1.53
Price/Tangible Book Value Low	- -	0.02	0.03	1.59	1.35	0.55	0.16	0.33	0.57	1.21	1.43	0.81
Price/Sales	0.02	0.02	0.03	0.84	0.6	0.28	0.22	0.62	0.99	1.32	1.46	1.09
Price/Sales Average	0.02	0.02	0.02	0.57	0.71	0.48	0.18	0.49	0.8	0.99	1.35	0.97
Price/Sales High	0.02	0.03	0.08	0.89	0.91	0.76	0.45	0.99	1.21	1.5	1.85	1.35
Price/Sales Low	0.01	0.02	0.02	0.41	0.5	0.23	0.1	0.18	0.29	0.65	1.03	0.72
Price/Cash Flow	0.05	0.09	0.09	4.45	2.14	1.6	1.47	2.56	3.48	3.86	6.65	14.88
Price/Cash Flow Average	0.05	0.09	0.08	3.04	2.53	2.69	1.25	2.02	2.8	2.9	6.12	13.26
Price/Cash Flow High	0.07	0.15	0.28	4.72	3.25	4.27	3.08	4.09	4.24	4.39	8.39	18.42
Price/Cash Flow Low	0.04	0.08	0.07	2.2	1.8	1.29	0.68	0.73	1.02	1.89	4.7	9.78
Price/Free Cash Flow Average	0.05	0.09	0.08	3.07	2.57	2.71	1.25	2.08	2.87	2.92	6.15	13.26
Price/Free Cash Flow High	0.07	0.15	0.28	4.76	3.31	4.29	3.08	4.21	4.35	4.42	8.42	18.42
Price/Free Cash Flow Low	0.04	0.08	0.07	2.22	1.83	1.3	0.68	0.76	1.05	1.91	4.72	9.78
EV/Sales Average	0.02	0.34	0.41	1.23	1.24	1.09	0.94	0.9	0.86	1	1.26	0.98
EV/Sales High	0.02	0.36	0.47	1.55	1.44	1.37	1.21	1.41	1.27	1.51	1.75	1.36
EV/Sales Low	0.01	0.34	0.41	1.07	1.03	0.84	0.85	0.59	0.35	0.65	0.94	0.72
EV/EBITDA Average	0.06	0.82	2.79	5.87	4.36	4.41	8.31	3.51	1.89	2.39	4.4	10.06
EV/EBITDA High	0.08	0.85	3.18	7.37	5.08	5.54	10.69	5.46	2.8	3.62	6.14	13.95
EV/EBITDA Low	0.04	0.81	2.77	5.11	3.64	3.41	7.57	2.3	0.77	1.57	3.3	7.43
EV/EBIT Average	0.1	1.25	-57.3	15.44	8.42	11.25	-7.38	11.39	2.42	3.11	6.89	-18.87
EV/EBIT High	0.14	1.29	-65.18	19.39	9.8	14.13	-9.5	17.69	3.59	4.7	9.62	-26.17
EV/EBIT Low	0.08	1.24	-56.85	13.46	7.02	8.68	-6.72	7.47	0.99	2.04	5.17	-13.94
Last Price	0.92	0.91	1.08	39.51	31.71	14.51	7.21	22.71	65	100.53	106.68	88.51
High Price	1.34	1.55	3.31	41.89	48.12	38.74	15.12	36.23	79.17	114.3	134.59	109.61
Enterprise Value Average	26	462	474	1,628	1,821	1,503	824	1,141	1,951	2,499	2,717	4,075
Enterprise Value High	38	478	540	2,044	2,119	1,888	1,061	1,772	2,888	3,778	3,794	5,653
Enterprise Value Low	20	459	471	1,418	1,518	1,160	750	748	797	1,639	2,038	3,011

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	28	28	28	27	26	34	34	35	30	29	51
Diluted Weighted Avg Shares	28	28	28	28	28	27	26	36	36	33	30	51
Basic Weighted Avg Shares	28	28	28	28	28	27	26	34	35	33	30	51
Revenue per Share	59.95	47.8	40.77	47.28	52.73	51.06	33.36	36.6	65.47	76.09	72.93	81.05
EBITDA per Share	16.72	20.13	6.06	9.93	14.95	12.65	3.76	9.43	29.63	31.71	20.81	7.88
Operating Income per Share	9.36	13.17	-0.3	3.77	7.74	4.96	-4.23	2.91	23.11	24.39	13.28	-4.2
Basic EPS, GAAP	10.37	10.95	1.48	2.42	5.48	2.82	-0.37	0.99	13.41	19.91	9.65	-2.98
Basic EPS from Cont Ops	10.37	11.32	1.8	2.95	6.4	3.47	-0.5	0.99	13.41	19.91	9.65	-2.98
Diluted EPS, GAAP	10.37	10.95	1.48	2.4	5.38	2.81	-0.37	0.96	13.07	19.79	9.61	-2.98
Diluted EPS from Cont Ops	10.37	11.32	1.8	2.93	6.29	3.46	-0.5	0.96	13.07	19.79	9.61	-2.98
Dividend per Share	15.03	16.44	9.66	20.81	0.65	- -	- -	- -	2.05	2.29	0.53	0.51
Cash Flow per Share	19.38	10.4	11.73	8.88	14.81	9.08	4.91	8.87	18.69	26.04	16.05	5.95
Free Cash Flow per Basic Share	19.38	10.4	11.73	8.88	14.81	9.08	4.91	8.87	18.69	26.04	16.05	5.95
Cash & Equivalents per Share	- -	0.24	0.47	5.51	8.44	2.98	1.93	4.35	7.84	8.54	15.51	8.41
Book Value per Share	- -	- -	- -	-1.55	6.53	9.66	9.38	8.16	19.22	28.68	39.17	15.94
Tangible Book Value per Share	- -	37.86	28.53	12.3	19.75	21.25	20.99	19.53	33.48	40.78	52.84	71.58

Core Natural Resources, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)