Shale was CNX Resources’s largest segment in fiscal 2025, bringing in $1.66B of $2.24B (74%).
| Segment | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shale | $1.73B | $1.39B | $1.41B | $1.66B | |||||||
| Exploration & Production Equipment | — | — | — | — | |||||||
| Exploration & Production | — | — | — | — | |||||||
| Gas | — | — | — | — | |||||||
| Marcellus Shale | — | — | — | — | |||||||
| Other | -$645.67M | $1.90B | -$267.76M | $438.94M | |||||||
| Utica Shale | — | — | — | — | |||||||
| Coalbed Methane | $175.56M | $142.32M | $125.79M | $136.66M | |||||||
| Other Gas | — | — | — | — | |||||||
| Total | $1.26B | $3.43B | $1.27B | $2.24B |
CNX Resources brought in $2.24B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 76.8% from $1.27B in fiscal 2024. Shale was the largest at $1.66B (74.3%), ahead of Other at $438.94M (19.6%) and Coalbed Methane at $136.66M (6.1%).
Compared with fiscal 2024, Shale grew 18.1% to $1.66B and Coalbed Methane grew 8.6% to $136.66M. From fiscal 2022 to 2025, combined revenue from these segments grew from $1.26B to $2.24B, a compound annual growth rate of 21.1%. Shale's share of the total fell from 137.3% to 74.3%.
Other Guarantors Subsidiaries was CNX Resources’s largest revenue line in fiscal 2014, bringing in $1.41B of $3.22B (44%).
| Legal Entity | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 |
|---|---|---|---|---|---|---|---|
| Other Guarantors Subsidiaries | — | — | — | $1.41B | |||
| Other Subsidiary Guarantors | $3.23B | $2.65B | $1.93B | — | |||
| Cnx Gas Guarantor | $881.96M | $770.11M | $868.20M | $1.15B | |||
| Parent Issuer | $876.23M | $613.34M | $886.28M | — | |||
| Cnx Coal Resources Lp | — | — | $276.24M | $418.10M | |||
| Non-Guarantor Subsidiaries | — | — | — | $245.31M | |||
| Non-Guarantors | $261.31M | $264.70M | $234.87M | — | |||
| Elimination | -$875.87M | -$615.71M | -$895.03M | — | |||
| Total | $4.38B | $3.68B | $3.30B | $3.22B |
CNX Resources brought in $3.22B from its four revenue lines in fiscal 2014, the year ended December 31, 2014. CNX Resources regrouped these revenue lines after fiscal 2013, so the total does not compare directly with that year's $3.30B. Other Guarantors Subsidiaries was the largest at $1.41B (43.8%), ahead of Cnx Gas Guarantor at $1.15B (35.6%) and Cnx Coal Resources Lp at $418.10M (13.0%). The remaining revenue line, Non-Guarantor Subsidiaries, brought in $245.31M.
Compared with fiscal 2013, Cnx Coal Resources Lp grew 51.4% to $418.10M and Cnx Gas Guarantor grew 32.0% to $1.15B.
CNX Resources began breaking out Other Guarantors Subsidiaries in fiscal 2014, Cnx Coal Resources Lp in fiscal 2013 and Non-Guarantor Subsidiaries in fiscal 2014. CNX Resources stopped reporting Other Subsidiary Guarantors ($1.93B in fiscal 2013), Parent Issuer ($886.28M in fiscal 2013) and Non-Guarantors ($234.87M in fiscal 2013) as separate revenue lines.
Marcellus Shale was CNX Resources’s largest product and service line in fiscal 2015, bringing in $480.24M of $1.20B (40%).
| Product and Service | FY 2015 |
|---|---|
| Marcellus Shale | $480.24M |
| Other Gas | $350.38M |
| Coalbed Methane | $269.46M |
| Utica Shale | $98.65M |
| Total | $1.20B |
CNX Resources brought in $1.20B from its four product and service lines in fiscal 2015, the year ended December 31, 2015. Marcellus Shale was the largest at $480.24M (40.1%), ahead of Other Gas at $350.38M (29.2%) and Coalbed Methane at $269.46M (22.5%). The remaining line, Utica Shale, brought in $98.65M.
CNX Resources (CNX) reports its revenue by segment, by legal entity and by product and service. In fiscal 2025, Shale was its largest segment, bringing in $1.66B (74.3% of the total), followed by Other at $438.94M (19.6%).
Shale was CNX Resources' largest segment in fiscal 2025, bringing in $1.66B, or 74.3% of the $2.24B total across its three segments.
Other Guarantors Subsidiaries was CNX Resources' largest revenue line in fiscal 2014, bringing in $1.41B, or 43.8% of the $3.22B total across its four revenue lines.
Marcellus Shale was CNX Resources' largest product and service line in fiscal 2015, bringing in $480.24M, or 40.1% of the $1.20B total across its four product and service lines.
Shale grew faster than Coalbed Methane in fiscal 2025, up 18.1% from $1.41B to $1.66B. Coalbed Methane grew 8.6% to $136.66M.
Every figure comes from CNX Resources' annual financial filings, as reported. Each line keeps the name CNX Resources gives it, and years follow its fiscal calendar.
CNX Resources' revenue by segment goes back to fiscal 2015, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.