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CNX Resources cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$114M in Q3 2026 · $482M over twelve months

Operating cash flow$254M
Capital spending−$139M
Free cash flow+$114M
Cash / net income1.5×

Analysis

In Q3 2026, CNX Resources generated $254M of operating cash flow and spent $139M on capital projects, leaving free cash flow of $114M. That is $43.8M less than in Q3 2025 ($158M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.1B; the largest uses were capital spending ($625M), buybacks ($535M), taxes on employees’ shares ($17.4M); besides operations, cash came from asset & business sales ($51.2M), other financing ($10.3M); the cash balance fell by $12.9M.

Operating cash flow was $254M against net income of $165M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$135M, deferred taxes +$48.8M, other liabilities +$38.3M.

Free cash flow

CNX Resources: free cash flow by quarterCNX Resources: free cash flow by quarter$163MQ4 2024$84.2MQ1 2025$169MQ2 2025$158MQ3 2025$123MQ4 2025$108MQ1 2026$138MQ2 2026$114MQ3 2026
Operating cash flow less capital spending.
CNX Resources: operating cash flow against capital spendingCNX Resources: operating cash flow against capital spendingOperating cash flowCapital spending$269M$105MQ4 2024$216M$131MQ1 2025$282M$114MQ2 2025$234M$75.5MQ3 2025$297M$174MQ4 2025$278M$170MQ1 2026$280M$142MQ2 2026$254M$139MQ3 2026
Latest (Q3 2026): Operating cash flow $254M, Capital spending $139M.

Capital allocation, year by year

CNX Resources: where the cash came from (up) and went (down), by fiscal yearCNX Resources: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $926MFY2021: Net borrowing −$132MFY2021: Shares issued $5.1MFY2021: Asset sales $45.3MFY2021: Capital spending −$466MFY2021: Buybacks −$245M$977MFY2021FY2022: Operating cash flow $1.2BFY2022: Net borrowing −$193MFY2022: Shares issued $1.2MFY2022: Asset sales $37.5MFY2022: Capital spending −$566MFY2022: Buybacks −$565M$1.3BFY2022FY2023: Operating cash flow $815MFY2023: Net borrowing −$1.6MFY2023: Shares issued $1.8MFY2023: Asset sales $170MFY2023: Capital spending −$679MFY2023: Buybacks −$320M$986MFY2023FY2024: Operating cash flow $816MFY2024: Net borrowing −$2.4MFY2024: Shares issued $2.7MFY2024: Asset sales $60.7MFY2024: Capital spending −$540MFY2024: Buybacks −$184M$879MFY2024FY2025: Operating cash flow $1.0BFY2025: Net borrowing −$4.5MFY2025: Shares issued $2.1MFY2025: Asset sales $108MFY2025: Capital spending −$495MFY2025: Acquisitions −$518MFY2025: Buybacks −$524M$1.1BFY2025
Over these 5 years operating cash flow totalled $4.8B; the largest uses were capital spending ($2.7B) and buybacks ($1.8B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.0M
Debt$2.3B
Net debt$2.3B
Due within a year$209M

CNX Resources funds itself: free cash flow was $482M over the last twelve months, and $2.0M of cash and investments stands against $2.3B of debt ($209M due within a year, 0.0× covered by cash).

CNX Resources: debt maturities by year (FY2025)CNX Resources: debt maturities by year (FY2025)$209MYear 1$733MYear 4$400MYear 5$1.1BAfter year 5
Principal due in each year as disclosed in the annual report, against $2.0M of cash and investments now.

Where the cash came from and went

CNX Resources: sources (+) and uses (−) of cash, Q3 2026CNX Resources: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$254MBuybacks−$180MCapital spending−$139MOther financing$52.7MAsset & business sales$15.9MOther investing−$5.0MCash drawn (+) / kept (−)$4.2MTaxes on employees’ shares−$2.0MShares issued$134K
CNX Resources: sources (+) and uses (−) of cash, TTM to Q3 2026CNX Resources: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.1BCapital spending−$625MBuybacks−$535MAsset & business sales$51.2MTaxes on employees’ shares−$17.4MCash drawn (+) / kept (−)$12.9MAcquisitions−$10.3MOther financing$10.3MShares issued$4.5MOther investing$1.7M

From profit to cash

CNX Resources: net income to operating cash flow, Q3 2026CNX Resources: net income to operating cash flow, Q3 2026Net income$165MDepreciation & amortization$135MStock-based pay$7.3MDeferred taxes$48.8MGains on disposals−$3.5MOther non-cash$226KInventory−$1.5MPayables−$14.0MAccrued liabilities−$200KPrepaid and other assets−$166KOther liabilities$38.3MOperating cash flow$254M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$254M−$139M—−$180M$134K$4.2M$114M
Q2 2026$280M−$142M—−$200M$1.7M−$2.4M$138M
Q1 2026$278M−$170M−$10.3M−$54.0M$1.5M$7.3M$108M
Q4 2025$297M−$174M—−$100M$1.1M$3.9M$123M
Q3 2025$234M−$75.5M—−$182M$56K−$1.4M$158M
Q2 2025$282M−$114M—−$116M$110K−$3.0M$169M
Q1 2025$216M−$131M−$518M−$125M$820K$42.2M$84.2M
Q4 2024$269M−$105M—−$25.0M$1.5M−$53.8M$163M

CNX Resources: income statement and cash flow

CNX Resources, Q3 2026: revenue $580M (-0.7% year over year), operating margin 37.8%. The chart follows the revenue to costs, profit and cash.

CNX Resources: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.