Cnx Resources's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Cnx Resources (CNX) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Cnx Resources vs Its Competitors
- TTM: Trailing 12-month revenue of 2,599M vs 220,344M combined for tracked competitors (1.2% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-4.8% annualized vs trailing 12 months), vs accelerating (+21.8%) for its tracked peer group.
- Growth: Cnx Resources generated -35.7% revenue growth year over year in Q2 2026, vs 31.8% for its tracked competitors combined.
- Profitability: Its 32.9% net margin compares with 27.0% for the peer group.
- Scale: Cnx Resources ranks #32 of 134 companies by market capitalization in the Oil And Gas Production industry, holding 0.3% of industry market cap.
- Peer revenue share: Cnx Resources accounted for 0.9% of combined revenue among its tracked peer group, down from 1.9% a year earlier.
- Peer differentiation: Revenue per employee of $6.67M compares with $2.72M for the peer group (2.4x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
CNX Sales vs. its Competitors, Q2 2026
Cnx Resources reported revenue contraction of 35.74 % year on year in Q2 2026, below its competitors' combined revenue growth of 31.79 %.
With a net margin of 32.87 %, Cnx Resources achieved higher profitability than its competitors (26.98 %).
Cnx Resources generated 0.91 % of the combined sales of its peer group, down from 1.86 % a year earlier.
Cnx Resources vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Cnx Resources and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Cnx Resources Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Cnx Resources's competitor groups requires a Commercial License.
For context: the Oil And Gas Production industry grew revenue 3.3% year over year, combined, vs -35.7% for Cnx Resources. Cnx Resources's share of combined industry revenue moved from 0.07% to 0.04%, a loss of 0.03 percentage points.
Cnx Resources's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Cnx Resources Corporation | Yes | Yes | Yes | No |
| Competitors combined (70) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 28.60 % (2 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
CNX Stock Performance relative to its Competitors
CNX Stock Performance relative to Similar-Size Competitors
CNX Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Zion Oil and Gas Inc | 282.9% | Outperformed |
| 2 | Gran Tierra Energy Inc | 282.9% | Outperformed |
| 3 | Par Pacific Holdings Inc | 282.9% | Outperformed |
| 4 | W and t Offshore inc | 282.9% | Outperformed |
| 5 | Apa Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Cnx Resources's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Cnx Resources's Comment on Competition and Industry Peers
The United States natural gas industry is highly competitive and more diversified than the coal industry. CONSOL Energy competes with other large producers, as well as thousands of smaller producers, pipeline imports from Canada, and Liquefied Natural Gas (LNG) from around the globe.
Natural gas has lost three percent of market share in the U.S. electric generation market compared to record natural gas generation in 2012 (based on preliminary 2013 results). However, we expect natural gas to become a more significant contributor to the domestic electric generation mix in the long-term, as well as fuel industrial growth in the U.S. economy. There is potential for natural gas to become a significant contributor to the transportation market. Additionally, the U.S. is expected to become a net exporter of gas in the next few years.
Our increasing gas production will allow CONSOL Energy to participate in these
growing markets.
CONSOL Energys gas operations are primarily located in the eastern United States.
The gas market is highly fragmented and not dominated by any single producer.
We believe that competition within our market is based primarily on natural
gas commodity trading fundamentals and pipeline transportation availability
to the various markets.
Continued demand for CONSOL Energys natural gas and the prices that CONSOL Energy obtains are affected by natural gas use in the production of electricity, U.S. manufacturing and the overall strength of the economy, environmental and government regulation, technological developments and the availability and price of competing alternative fuel supplies.
The United States coal industry is highly competitive, with numerous producers selling into all markets that use coal. CONSOL Energy competes against several other large producers and numerous small producers in the United States and overseas. Demand for our coal by our principal customers is affected by many factors including:
the price of competing coal and alternative fuel supplies, including nuclear,
natural gas, oil and
renewable energy sources, such as hydroelectric power, wind or solar;
environmental and government regulation;
coal quality;
transportation costs from the mine to the customer;
the reliability of fuel supply;
worldwide demand for steel;
natural/weather disasters; and
political changes in international governments.
Continued demand for CONSOL Energys coal and the prices that CONSOL Energy obtains are affected by demand for electricity, technological developments, environmental and governmental regulation, and the availability and price of competing coal and alternative fuel supplies. We sell coal to foreign electricity generators and to the more specialized metallurgical coal markets, both of which are significantly affected by international demand and competition.
Publicly Traded Peers of Cnx Resources Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Cnx Resources Corporation | 4,863.64 | 2,599.46 |
| Eog Resources Inc | 73,938.33 | 27,026.00 |
| Occidental Petroleum Corporation | 55,924.05 | 21,671.00 |
| Diamondback Energy Inc | 51,784.75 | 17,102.00 |
| Devon Energy Corp | 43,550.20 | 19,676.00 |
| Wec Energy Group Inc | 33,572.47 | 10,137.40 |
| SUBTOTAL | 526,008.58 | 247,544.53 |
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Sources: Cnx Resources Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Cnx Resources Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Cnx Resources's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Cnx Resources Corporation | Shale 59.86 % |
| Eog Resources Inc | United States of America 98.40 % |
| Occidental Petroleum Corporation | Oil and gas 95.12 % |
| Wec Energy Group Inc | Wisconsin 78.63 % |
| Eqt Corporation | Upstream 94.90 % |
| Texas Pacific Land Corporation | Land and resource management 64.84 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Cnx Resources's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Cnx Resources Corporation | 4,864 | 6,665,287 | 2,435,308 |
| Eog Resources Inc | 73,938 | 7,948,824 | 2,022,353 |
| Occidental Petroleum Corporation | 55,924 | 2,081,348 | 702,171 |
| Diamondback Energy Inc | 51,785 | 9,706,016 | 1,035,187 |
| Devon Energy Corp | 43,550 | 8,943,636 | 1,493,636 |
| Wec Energy Group Inc | 33,572 | 1,417,620 | 236,904 |
| PEERS TOTAL | 521,145 | 2,722,217 | 407,992 |
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Cnx Resources's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Occidental Petroleum Corporation | Non-US 20.75 % |
| Sm Energy Co | Permian Basin 49.29 % |
| Us Energy Corp | Rockies 84.98 % |
| Barnwell Industries inc | Canada 98.50 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Cnx Resources's Position in Industry Market Structure
Market-capitalization share and concentration across all 113 companies in Cnx Resources's industry classification, broader than the peer set above. Market cap in millions of $.Cnx Resources ranks #32 of 113 companies by market capitalization in its industry, holding 0.32 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 788, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Shell Plc | 289,637 | 19.00 % |
| 2 | Totalenergies Se | 216,606 | 14.21 % |
| 3 | Canadian Natural Resources Limited | 104,814 | 6.88 % |
| 4 | Eni Spa | 96,185 | 6.31 % |
| 5 | Slb Limited | 1,234 | 5.2% |
| 6 | Eog Resources Inc | 1,234 | 5.2% |
| 7 | Occidental Petroleum Corporation | 1,234 | 5.2% |
| 8 | Cenovus Energy Inc | 1,234 | 5.2% |
| 9 | Diamondback Energy Inc | 1,234 | 5.2% |
| 10 | Devon Energy Corp | 1,234 | 5.2% |
| 32 | Cnx Resources Corporation | 4,881 | 0.32 % |
Market cap and industry share for the rest of Cnx Resources's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Cnx Resources's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 27 | Chord Energy Corporation | 7,650 | 32.22 % |
| 28 | Matador Resources Company | 6,388 | 8.31 % |
| 29 | Landbridge Company Llc | 6,215 | 50.21 % |
| 30 | Murphy Oil Corporation | 5,356 | 26.17 % |
| 31 | Hess Midstream Lp | 1,234 | 12.3% |
| 32 | Cnx Resources Corporation | 4,881 | 1.27 % |
| 33 | California Resources Corp | 1,234 | 12.3% |
| 34 | Oceaneering International Inc | 1,234 | 12.3% |
| 35 | Magnolia Oil and Gas Corp | 1,234 | 12.3% |
| 36 | Crescent Energy Company | 1,234 | 12.3% |
| 37 | Par Pacific Holdings Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Cnx Resources's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Cnx Resources's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Oil And Gas Production industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (165 companies). See the full Oil And Gas Production industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 57.30 % (avg) | - |
| Operating Margin | 47.09 % | industry median | +35.7 pp |
| EBITDA Margin | 65.15 % | 11.81 % (avg) | +53.3 pp |
| Capital Intensity (Capex / Revenue) | 21.61 % | 24.95 % (avg) | -3.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Cnx Resources's Valuation vs Competitive Position
Valuation multiples vs the Oil And Gas Production industry average (165 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Oil And Gas Production industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 5.8x | 15.8x | -10.0x |
| EV / EBITDA | 4.5x | 8.9x | -4.4x |
| P/B | 1.2x | 1.8x | -0.6x |
| Return on Equity | 21.20 % | industry aggregate | 9.21 % |
| Return on Invested Capital | 9.71 % | 5.38 % (avg) | 4.33 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Cnx Resources's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -35.82 % | 11.10 % | -34.56 % | 15.54 % | -4.27 % | 172.35 % | -63.12 % | 76.76 % |
| Operating Margin | 29.10 % | 9.67 % | -34.96 % | 3.77 % | -4.79 % | 65.29 % | 0.51 % | 39.79 % |
| Return on Invested Capital | 3.23 % | 1.30 % | -3.47 % | 0.43 % | -0.66 % | 19.23 % | 0.05 % | 7.52 % |
| P/E | - | - | - | - | - | 2.3x | - | 10.2x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Cnx Resources's Strategic Group Map
Every company in Cnx Resources's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Cnx Resources is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Cnx Resources's BCG Growth-Share Matrix
Relative market share (vs Cnx Resources's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Cnx Resources falls in the Dog quadrant: relative market share of 0.02x vs its largest competitor, in an industry growing revenue 0.1% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Cnx Resources's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 788 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Moderate, in line with the industry | Capital intensity (capex / revenue) of 21.61 % vs industry average 24.95 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Cnx Resources's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Cnx Resources's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Cnx Resources's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Cnx Resources falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Cnx Resources's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 35.7 points above the industry median.
- Return on equity 9.2 points above the industry aggregate.
Weaknesses
- Latest-quarter revenue run-rate is decelerating (-4.8% annualized vs trailing 12 months).
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.02x).
Opportunities
- Trades at a lower P/E than the industry average (5.8x vs 15.8x) despite a higher return on invested capital -- a possible re-rating opportunity.
- A meaningful share of tracked competitors (32.80 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Cnx Resources's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Cnx Resources Corporation | 0.01 | 0.47 | 0.53 |
| Eog Resources Inc | 0.78 | 1.71 | 0.26 |
| Occidental Petroleum Corporation | 0.34 | 1.11 | 0.57 |
| Diamondback Energy Inc | 0.07 | 0.51 | 0.33 |
| Devon Energy Corp | 0.05 | 0.89 | 0.43 |
| Wec Energy Group Inc | 0.01 | 0.57 | 107.40 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Cnx Resources's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Cnx Resources Corporation | Q2 2026 | -35.7 % | -53.0 % |
| Eog Resources Inc | Q2 2026 | +57.4 % | +102.5 % |
| Occidental Petroleum Corporation | Q2 2026 | +53.4 % | +540.2 % |
| Diamondback Energy Inc | Q2 2026 | +51.2 % | +178.1 % |
| Devon Energy Corp | Q2 2026 | +73.1 % | +108.4 % |
| Wec Energy Group Inc | Q2 2026 | +2.6 % | +23.9 % |
| PEERS TOTAL | +31.8 % | +143.0 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Cnx Resources's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Cnx Resources Corporation | Q2 2026 | - | +25.0 % |
| Eog Resources Inc | Q2 2026 | - | -0.6 % |
| Occidental Petroleum Corporation | Q2 2026 | - | -6.8 % |
| Diamondback Energy Inc | Q2 2026 | - | -64.1 % |
| Devon Energy Corp | Q2 2026 | - | +37.9 % |
| Wec Energy Group Inc | Q2 2026 | -2.6 % | +52.2 % |
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Cnx Resources's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Cnx Resources Corporation | 10.48% | 11.69% | 21.20% |
| Eog Resources Inc | 12.96% | 16.78% | 22.38% |
| Occidental Petroleum Corporation | 8.90% | 8.31% | 18.83% |
| Diamondback Energy Inc | 2.54% | 2.17% | 4.16% |
| Devon Energy Corp | 7.91% | 9.69% | 14.93% |
| Wec Energy Group Inc | 3.29% | 5.16% | 847.58% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Cnx Resources's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Cnx Resources Corporation | 5.31 | 1.87 |
| Eog Resources Inc | 10.89 | 2.74 |
| Occidental Petroleum Corporation | 8.55 | 2.58 |
| Diamondback Energy Inc | 38.05 | 3.03 |
| Devon Energy Corp | 11.03 | 2.21 |
| Wec Energy Group Inc | 19.74 | 3.31 |
| PEERS AVERAGE | 13.97 | 2.12 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.