CNX Resources vs Murphy Oil
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The short version
- Murphy Oil is the larger business, with $2.7B of revenue in fiscal 2025 against $2.2B for CNX Resources.
- CNX Resources grew revenue faster (76.8%, against −10.2%).
- CNX Resources turned more of its sales into free cash flow (23.9% FCF margin, against 8.4%).
- CNX Resources earned a higher return on the capital invested in it (11.8%, against 3.7%).
- Investors pay more for each dollar of Murphy Oil’s earnings: a P/E of 22.0x against 6.0x for CNX Resources.
| Latest fiscal year | CNX · FY25 | MUR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.6B | $6.5B |
| Revenue | $2.2B | $2.7B |
| Free cash flow | $534M | $227M |
| Net income | $633M | $104M |
| Growth | ||
| Revenue growth | 76.8% | −10.2% |
| 5-year growth | 12.2% | 6.7% |
| Share count change | 6.0% | −4.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 11.1% |
| Net margin | 28.3% | 3.8% |
| FCF margin | 23.9% | 8.4% |
| Return on capital | 11.8% | 3.7% |
| Return on equity | 15.0% | 2.0% |
| Balance sheet | ||
| Net debt | $2.5B | $908M |
| Net debt / EBITDA | 1.6x | 0.7x |
| Dividends and buybacks | $524M | $289M |
| Valuation & quality | ||
| P/E | 6.0x | 22.0x |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
CNX $760M
MUR $1.8B
FY17
CNX $1.5B
MUR $1.4B
FY18
CNX $1.7B
MUR $1.8B
FY19
CNX $1.9B
MUR $2.8B
FY20
CNX $1.3B
MUR $2.0B
FY21
CNX $757M
MUR $2.3B
FY22
CNX $1.3B
MUR $3.9B
FY23
CNX $3.4B
MUR $3.5B
FY24
CNX $1.3B
MUR $3.0B
FY25
CNX $2.2B
MUR $2.7B
CNX
MUR
Operating margin
FY16
CNX —
MUR −21.5%
FY17
CNX —
MUR −1.8%
FY18
CNX —
MUR 12.0%
FY19
CNX —
MUR 15.7%
FY20
CNX —
MUR −69.3%
FY21
CNX —
MUR 12.2%
FY22
CNX —
MUR 40.4%
FY23
CNX —
MUR 30.1%
FY24
CNX —
MUR 19.9%
FY25
CNX —
MUR 11.1%
CNX
MUR
Free cash flow
FY16
CNX $292M
MUR −$326M
FY17
CNX $15.8M
MUR −$297M
FY18
CNX −$231M
MUR −$262M
FY19
CNX −$212M
MUR $145M
FY20
CNX $308M
MUR $42.9M
FY21
CNX $461M
MUR $772M
FY22
CNX $669M
MUR $1.2B
FY23
CNX $135M
MUR $683M
FY24
CNX $275M
MUR $829M
FY25
CNX $534M
MUR $227M
CNX
MUR
Return on capital
FY16
CNX −8.0%
MUR −4.2%
FY17
CNX 6.2%
MUR −0.3%
FY18
CNX 14.0%
MUR 3.1%
FY19
CNX 1.0%
MUR 5.2%
FY20
CNX −5.3%
MUR −14.2%
FY21
CNX −6.0%
MUR 4.3%
FY22
CNX −1.2%
MUR 19.6%
FY23
CNX 31.3%
MUR 12.6%
FY24
CNX 0.4%
MUR 8.2%
FY25
CNX 11.8%
MUR 3.7%
CNX
MUR
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.