CNRCore Natural Resources, Inc.
Silver Ores
- Revenue
- $4.2B
- 92% YoY
- Operating margin
- -4.4%
- 127% YoY
- EBITDA
- $439M
- 24% YoY
- Market cap
- $4.3B
- Employees
- 4,850
- $859K revenue each
- Net debt / EBITDA
- -0.2×
- −$68M net debt
- AI in 10-K
- 0.6
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo82% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 3 of 4
- Low revenue per employeeNo$859K per employeeBottom quartile of its SIC industry
- Quiet on AIYes0.6 per 10K words · 24th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.2× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$4.3B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$7M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.3B | $2.3B | $2.5B | $2.2B | $4.2B | 92% |
| Operating income | — | — | $803M | $351M | −$182M | 152% |
| Net income | $34M | $467M | $656M | $286M | −$153M | 153% |
| Operating cash flow | $306M | $651M | $858M | $476M | $306M | 36% |
| Capex | $133M | $172M | $168M | $178M | $285M | 60% |
| Stock-based comp | $7M | $8M | $10M | $11M | $33M | 190% |
| Buybacks | $0 | $0 | $399M | $71M | $224M | 216% |
| Dividends | $0 | $71M | $75M | $16M | $26M | 66% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $7M · 6
- Net
- −$7M
Pay vs performance
No pay-versus-performance disclosure yet.