CNX vs. TRP

Last updated Apr 2, 2026

Compare and contrast key facts about CNX Resources Corporation (CNX) and TC Energy Corporation (TRP).

Performance

CNX vs. TRP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CNX Resources Corporation (CNX) and TC Energy Corporation (TRP). The values are adjusted to include any dividend payments, if applicable.

CNX vs. TRP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNX CNX Resources Corporation	4.51%	0.27%	83.35%	18.76%	22.47%	27.31%	22.03%	-22.50%	-21.94%	-19.75%
TRP TC Energy Corporation	14.25%	24.02%	39.88%	6.09%	-7.83%	20.99%	-19.09%	56.30%	-22.64%	13.51%

Fundamentals

Market Cap CNX : $5.94B TRP : $64.77B
EPS CNX : $3.81 TRP : $3.38
PE Ratio CNX : 10.08 TRP : 18.40
PEG Ratio CNX : 0.01 TRP : 0.25
PS Ratio CNX : 2.82 TRP : 4.27
PB Ratio CNX : 1.37 TRP : 2.59
Total Revenue (TTM) CNX : $2.26B TRP : $15.14B
Gross Profit (TTM) CNX : $1.64B TRP : $7.55B
EBITDA (TTM) CNX : $1.53B TRP : $10.71B

Returns By Period

In the year-to-date period, CNX achieves a 4.51% return, which is significantly lower than TRP's 14.25% return. Over the past 10 years, CNX has outperformed TRP with an annualized return of 13.54%, while TRP has yielded a comparatively lower 12.33% annualized return.

CNX

• 1D: -0.31%
• 1M: -8.26%
• YTD: 4.51%
• 6M: 14.41%
• 1Y: 20.62%
• 3Y*: 33.87%
• 5Y*: 20.16%
• 10Y*: 13.54%

TRP

• 1D: -0.61%
• 1M: -3.44%
• YTD: 14.25%
• 6M: 17.93%
• 1Y: 36.22%
• 3Y*: 28.40%
• 5Y*: 14.99%
• 10Y*: 12.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CNX vs. TRP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNX

CNX Risk / Return Rank: 60
CNX Sharpe Ratio Rank: 63
CNX Sortino Ratio Rank: 56
CNX Omega Ratio Rank: 54
CNX Calmar Ratio Rank: 64
CNX Martin Ratio Rank: 63

TRP

TRP Risk / Return Rank: 88
TRP Sharpe Ratio Rank: 89
TRP Sortino Ratio Rank: 87
TRP Omega Ratio Rank: 84
TRP Calmar Ratio Rank: 90
TRP Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNX vs. TRP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CNX Resources Corporation (CNX) and TC Energy Corporation (TRP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CNX	TRP	Difference
Sharpe ratio Return per unit of total volatility	0.65	1.88	-1.23
Sortino ratio Return per unit of downside risk	1.07	2.60	-1.53
Omega ratio Gain probability vs. loss probability	1.13	1.33	-0.20
Calmar ratio Return relative to maximum drawdown	1.10	3.93	-2.83
Martin ratio Return relative to average drawdown	2.51	10.30	-7.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNX vs. TRP - Sharpe Ratio Comparison

The current CNX Sharpe Ratio is 0.65, which is lower than the TRP Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of CNX and TRP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CNX	TRP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	1.88	-1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.70	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.50	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.46	-0.31

Correlation

The correlation between CNX and TRP is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CNX vs. TRP - Dividend Comparison

CNX has not paid dividends to shareholders, while TRP's dividend yield for the trailing twelve months is around 3.99%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNX CNX Resources Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	1.84%
TRP TC Energy Corporation	3.99%	4.45%	5.93%	7.73%	8.52%	5.94%	5.92%	4.25%	5.85%	5.14%	5.01%	6.38%

Drawdowns

CNX vs. TRP - Drawdown Comparison

The maximum CNX drawdown since its inception was -95.41%, which is greater than TRP's maximum drawdown of -62.52%. Use the drawdown chart below to compare losses from any high point for CNX and TRP.

Drawdown Indicators

	CNX	TRP	Difference
Max Drawdown Largest peak-to-trough decline	-95.41%	-62.52%	-32.89%
Max Drawdown (1Y) Largest decline over 1 year	-20.14%	-9.65%	-10.49%
Max Drawdown (5Y) Largest decline over 5 years	-38.23%	-37.05%	-1.18%
Max Drawdown (10Y) Largest decline over 10 years	-77.19%	-41.64%	-35.55%
Current Drawdown Current decline from peak	-64.59%	-3.44%	-61.15%
Average Drawdown Average peak-to-trough decline	-58.11%	-11.77%	-46.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.81%	3.68%	+5.13%

Volatility

CNX vs. TRP - Volatility Comparison

CNX Resources Corporation (CNX) has a higher volatility of 7.19% compared to TC Energy Corporation (TRP) at 2.98%. This indicates that CNX's price experiences larger fluctuations and is considered to be riskier than TRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNX	TRP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.19%	2.98%	+4.21%
Volatility (6M) Calculated over the trailing 6-month period	22.52%	12.46%	+10.06%
Volatility (1Y) Calculated over the trailing 1-year period	31.69%	19.38%	+12.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.91%	21.63%	+14.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.16%	24.80%	+24.36%

Financials

CNX vs. TRP - Profitability Comparison

The chart below illustrates the profitability comparison between CNX Resources Corporation and TC Energy Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CNX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, CNX Resources Corporation reported a gross profit of 610.48M and revenue of 655.18M. Therefore, the gross margin over that period was 93.2%.

TRP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, TC Energy Corporation reported a gross profit of 2.02B and revenue of 4.07B. Therefore, the gross margin over that period was 49.7%.

CNX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, CNX Resources Corporation reported an operating income of 269.10M and revenue of 655.18M, resulting in an operating margin of 41.1%.

TRP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, TC Energy Corporation reported an operating income of 1.80B and revenue of 4.07B, resulting in an operating margin of 44.2%.

CNX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, CNX Resources Corporation reported a net income of 196.25M and revenue of 655.18M, resulting in a net margin of 30.0%.

TRP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, TC Energy Corporation reported a net income of 1.01B and revenue of 4.07B, resulting in a net margin of 24.9%.