CNR has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
CNR has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.86 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Core Natural Resources's Beneish M-Score or its related term are showing as below:
During the past 11 years, the highest Beneish M-Score of Core Natural Resources was -1.87. The lowest was -3.17. And the median was -2.87.
The historical data trend for Core Natural Resources's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Core Natural Resources Annual Data | |||||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial |
![]() |
![]() |
-3.08 | -2.87 | -1.87 | -2.84 | -2.86 |
Core Natural Resources Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Beneish M-Score | Get a 7-Day Free Trial |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
-2.84 | -2.73 | -2.51 | -2.88 | -2.86 |
For the Thermal Coal subindustry, Core Natural Resources's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Other Energy Sources industry and Energy sector, Core Natural Resources's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Core Natural Resources's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Core Natural Resources for today is based on a combination of the following eight different indices:
M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
= | -4.84 | + | 0.92 * 1.1831 | + | 0.528 * 1.0234 | + | 0.404 * 0.9894 | + | 0.892 * 0.8572 | + | 0.115 * 1.0754 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.2991 | + | 4.679 * -0.089728 | - | 0.327 * 0.8982 | |||||||
= | -2.86 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was $163 Mil. Revenue was 569.784 + 549.635 + 486.982 + 542.297 = $2,149 Mil. Gross Profit was 436.293 + 432.9 + 366.495 + 415.458 = $1,651 Mil. Total Current Assets was $786 Mil. Total Assets was $2,880 Mil. Property, Plant and Equipment(Net PPE) was $1,927 Mil. Depreciation, Depletion and Amortization(DDA) was $224 Mil. Selling, General, & Admin. Expense(SGA) was $115 Mil. Total Current Liabilities was $519 Mil. Long-Term Debt & Capital Lease Obligation was $100 Mil. Net Income was 30.821 + 95.632 + 58.061 + 101.891 = $286 Mil. Non Operating Income was 6.284 + 25.22 + 14.141 + 22.745 = $68 Mil. Cash Flow from Operations was 121.31 + 161.332 + 116.264 + 77.484 = $476 Mil. |
Total Receivables was $160 Mil. Revenue was 634.349 + 540.666 + 654.023 + 677.597 = $2,507 Mil. Gross Profit was 499.235 + 413.502 + 507.939 + 550.539 = $1,971 Mil. Total Current Assets was $601 Mil. Total Assets was $2,675 Mil. Property, Plant and Equipment(Net PPE) was $1,918 Mil. Depreciation, Depletion and Amortization(DDA) was $241 Mil. Selling, General, & Admin. Expense(SGA) was $103 Mil. Total Current Liabilities was $444 Mil. Long-Term Debt & Capital Lease Obligation was $196 Mil. |
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
= | (162.65 / 2148.698) | / | (160.377 / 2506.635) | |
= | 0.075697 | / | 0.063981 | |
= | 1.1831 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
= | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) | |
= | (1971.215 / 2506.635) | / | (1651.146 / 2148.698) | |
= | 0.786399 | / | 0.76844 | |
= | 1.0234 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
= | (1 - (785.958 + 1927.212) / 2879.543) | / | (1 - (601.006 + 1917.781) / 2675.003) | |
= | 0.057778 | / | 0.058398 | |
= | 0.9894 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
SGI | = | Sales_t | / | Sales_t-1 |
= | Revenue_t | / | Revenue_t-1 | |
= | 2148.698 | / | 2506.635 | |
= | 0.8572 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
= | (241.317 / (241.317 + 1917.781)) | / | (223.526 / (223.526 + 1927.212)) | |
= | 0.111768 | / | 0.10393 | |
= | 1.0754 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
= | (115.224 / 2148.698) | / | (103.47 / 2506.635) | |
= | 0.053625 | / | 0.041278 | |
= | 1.2991 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
= | ((100.26 + 518.684) / 2879.543) | / | ((196.452 + 443.724) / 2675.003) | |
= | 0.214945 | / | 0.239318 | |
= | 0.8982 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
= | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t | |
= | (286.405 - 68.39 | - | 476.39) | / | 2879.543 | |
= | -0.089728 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Core Natural Resources has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Core Natural Resources's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
James A Brock | director, officer: Chief Executive Officer | 1000 CONSOL ENERGY DRIVE, CANONSBURG PA 15317 |
John Rothka | officer: Chief Accounting Officer | 2970 HENDERSON AVENUE, WASHINGTON PA 15301 |
Martha A Wiegand | officer: General Counsel & Secretary | 1000 CONSOL ENERGY DRIVE, CANONSBURG PA 15317 |
Platt Joseph P Jr | director | HENRY W. OLIVER BLDG., 535 SMITHFIELD ST., PITTSBURGH PA 15222 |
John T Mills | director | MARATHON OIL CORP, 5555 SAN FELIPE ROAD, HOUSTON TX 77056 |
Kurt R. Salvatori | officer: Chief Administrative Officer | 1000 CONSOL ENERGY DRIVE, CANONSBURG PA 15317 |
Valli Perera | director | C/O CONSOL ENERGY INC., 275 TECHNOLOGY DRIVE SUITE 101, CANONSBURG PA 15317 |
Cassandra Chia-wei Pan | director | C/O CONSOL ENERGY INC., 275 TECHNOLOGY DRIVE, SUITE 101, CANONSBURG PA 15317 |
Sophie Bergeron | director | 1000 CONSOL ENERGY DRIVE, SUITE 100, CANONSBURG PA 15317 |
Dme Capital Management, Lp | other: Former 10% Owner | 140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017 |
Dme Advisors Gp, L.l.c. | other: Former 10% Owner | 140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017 |
Dme Advisors, Lp | other: Former 10% Owner | 140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017 |
Greenlight Capital Inc | other: Former 10% Owner | 140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017 |
David Einhorn | other: Former 10% Owner | 140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017 |
Matthew T Wood | 10 percent owner | 60 CHARLOTTE STREET, LONDON W1T 2NU X0 00000 |
From GuruFocus
By GuruFocus News • 01-21-2025
By GuruFocus News • 02-10-2025
By GuruFocus News • 01-08-2025
By GuruFocus News • 02-15-2025
By GuruFocus News • 11-06-2024
By GuruFocus News • 01-23-2025
By GuruFocus Research • 08-13-2024
By GuruFocus News • 12-06-2024
By GuruFocus News • 02-14-2025
By GuruFocus News • 01-16-2025
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.