CANADIAN NATURAL RESOURCES (CNQ.CA) Stock Fundamental Analysis
Canada - TSX:CNQ - CA1363851017 - Common Stock
44.4 CAD
-0.04 (-0.09%)
Taking everything into account, CNQ scores 5 out of 10 in our fundamental rating. CNQ was compared to 218 industry peers in the Oil, Gas & Consumable Fuels industry. While CNQ belongs to the best of the industry regarding profitability, there are concerns on its financial health. CNQ is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
CNQ had positive earnings in the past year.
In the past year CNQ had a positive cash flow from operations.
CNQ had positive earnings in 4 of the past 5 years.
CNQ had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
CNQ has a better Return On Assets (9.76%) than 91.74% of its industry peers.
CNQ has a better Return On Equity (20.15%) than 95.41% of its industry peers.
CNQ has a Return On Invested Capital of 10.99%. This is amongst the best in the industry. CNQ outperforms 94.50% of its industry peers.
CNQ had an Average Return On Invested Capital over the past 3 years of 13.06%. This is significantly above the industry average of 6.89%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.76% | ||
| ROE | 20.15% | ||
| ROIC | 10.99% |
ROA(3y)10.79%
ROA(5y)8.36%
ROE(3y)21.6%
ROE(5y)16.84%
ROIC(3y)13.06%
ROIC(5y)N/A
1.3 Margins
The Profit Margin of CNQ (21.90%) is better than 84.86% of its industry peers.
CNQ's Profit Margin has declined in the last couple of years.
CNQ's Operating Margin of 28.32% is amongst the best of the industry. CNQ outperforms 80.73% of its industry peers.
CNQ's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 49.63%, CNQ is in the better half of the industry, outperforming 74.31% of the companies in the same industry.
In the last couple of years the Gross Margin of CNQ has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 28.32% | ||
| PM (TTM) | 21.9% | ||
| GM | 49.63% |
OM growth 3Y-4.83%
OM growth 5Y2.21%
PM growth 3Y-12.43%
PM growth 5Y-6.28%
GM growth 3Y-3.13%
GM growth 5Y-1.06%
2. Health
2.1 Basic Checks
CNQ has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
Compared to 1 year ago, CNQ has less shares outstanding
The number of shares outstanding for CNQ has been reduced compared to 5 years ago.
The debt/assets ratio for CNQ is higher compared to a year ago.
2.2 Solvency
CNQ has an Altman-Z score of 2.60. This is not the best score and indicates that CNQ is in the grey zone with still only limited risk for bankruptcy at the moment.
The Altman-Z score of CNQ (2.60) is better than 75.69% of its industry peers.
CNQ has a Debt/Equity ratio of 0.41. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.41, CNQ is in line with its industry, outperforming 53.21% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.41 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.6 |
ROIC/WACC1.53
WACC7.18%
2.3 Liquidity
CNQ has a Current Ratio of 0.85. This is a bad value and indicates that CNQ is not financially healthy enough and could expect problems in meeting its short term obligations.
CNQ has a Current ratio (0.85) which is comparable to the rest of the industry.
A Quick Ratio of 0.54 indicates that CNQ may have some problems paying its short term obligations.
The Quick ratio of CNQ (0.54) is worse than 72.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.85 | ||
| Quick Ratio | 0.54 |
3. Growth
3.1 Past
The earnings per share for CNQ have decreased by -0.83% in the last year.
Measured over the past years, CNQ shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.79% on average per year.
The Revenue has decreased by -0.87% in the past year.
Measured over the past years, CNQ shows a quite strong growth in Revenue. The Revenue has been growing by 9.29% on average per year.
EPS 1Y (TTM)-0.83%
EPS 3Y4.92%
EPS 5Y16.79%
EPS Q2Q%-9.89%
Revenue 1Y (TTM)-0.87%
Revenue growth 3Y5.86%
Revenue growth 5Y9.29%
Sales Q2Q%9.55%
3.2 Future
CNQ is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.58% yearly.
The Revenue is expected to grow by 1.17% on average over the next years.
EPS Next Y-0.49%
EPS Next 2Y-5.37%
EPS Next 3Y15.52%
EPS Next 5Y17.58%
Revenue Next Year7.16%
Revenue Next 2Y0.74%
Revenue Next 3Y3%
Revenue Next 5Y1.17%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 12.10 indicates a correct valuation of CNQ.
CNQ's Price/Earnings ratio is a bit cheaper when compared to the industry. CNQ is cheaper than 68.81% of the companies in the same industry.
When comparing the Price/Earnings ratio of CNQ to the average of the S&P500 Index (25.83), we can say CNQ is valued rather cheaply.
A Price/Forward Earnings ratio of 14.31 indicates a correct valuation of CNQ.
CNQ's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. CNQ is cheaper than 61.01% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 32.68. CNQ is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.1 | ||
| Fwd PE | 14.31 |
4.2 Price Multiples
82.11% of the companies in the same industry are more expensive than CNQ, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 6.21 |
4.3 Compensation for Growth
CNQ has an outstanding profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as CNQ's earnings are expected to grow with 15.52% in the coming years.
PEG (NY)N/A
PEG (5Y)0.72
EPS Next 2Y-5.37%
EPS Next 3Y15.52%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.26%, CNQ is a good candidate for dividend investing.
CNQ's Dividend Yield is a higher than the industry average which is at 5.34.
Compared to an average S&P500 Dividend Yield of 2.39, CNQ pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.26% |
5.2 History
On average, the dividend of CNQ grows each year by 23.37%, which is quite nice.
CNQ has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of CNQ decreased recently.
Dividend Growth(5Y)23.37%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
CNQ pays out 55.82% of its income as dividend. This is a bit on the high side, but may be sustainable.
CNQ's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP55.82%
EPS Next 2Y-5.37%
EPS Next 3Y15.52%
TSX:CNQ (11/7/2025, 7:00:00 PM)
44.4
-0.04 (-0.09%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners75.7%
Inst Owner ChangeN/A
Ins Owners2.18%
Ins Owner ChangeN/A
Market Cap92.66B
Revenue(TTM)35.66B
Net Income(TTM)8.32B
Analysts75.83
Price Target54.03 (21.69%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.26% |
Yearly Dividend2.09
Dividend Growth(5Y)23.37%
DP55.82%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.15%
Min EPS beat(2)9.38%
Max EPS beat(2)12.93%
EPS beat(4)3
Avg EPS beat(4)7%
Min EPS beat(4)-0.9%
Max EPS beat(4)12.93%
EPS beat(8)6
Avg EPS beat(8)5.45%
EPS beat(12)8
Avg EPS beat(12)3.79%
EPS beat(16)12
Avg EPS beat(16)4.8%
Revenue beat(2)1
Avg Revenue beat(2)0.78%
Min Revenue beat(2)-2.6%
Max Revenue beat(2)4.16%
Revenue beat(4)2
Avg Revenue beat(4)-0.02%
Min Revenue beat(4)-4.04%
Max Revenue beat(4)4.16%
Revenue beat(8)5
Avg Revenue beat(8)0.82%
Revenue beat(12)9
Avg Revenue beat(12)2.08%
Revenue beat(16)13
Avg Revenue beat(16)5.56%
PT rev (1m)0.79%
PT rev (3m)3.87%
EPS NQ rev (1m)-1.88%
EPS NQ rev (3m)-1.61%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.54%
Revenue NQ rev (1m)-4.5%
Revenue NQ rev (3m)-1.61%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.12%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.1 | ||
| Fwd PE | 14.31 | ||
| P/S | 2.44 | ||
| P/FCF | N/A | ||
| P/OCF | 6.7 | ||
| P/B | 2.24 | ||
| P/tB | 2.24 | ||
| EV/EBITDA | 6.21 |
EPS(TTM)3.67
EY8.27%
EPS(NY)3.1
Fwd EY6.99%
FCF(TTM)-0.57
FCFYN/A
OCF(TTM)6.63
OCFY14.93%
SpS18.21
BVpS19.79
TBVpS19.79
PEG (NY)N/A
PEG (5Y)0.72
Graham Number40.42
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.76% | ||
| ROE | 20.15% | ||
| ROCE | 14.02% | ||
| ROIC | 10.99% | ||
| ROICexc | 11% | ||
| ROICexgc | 11% | ||
| OM | 28.32% | ||
| PM (TTM) | 21.9% | ||
| GM | 49.63% | ||
| FCFM | N/A |
ROA(3y)10.79%
ROA(5y)8.36%
ROE(3y)21.6%
ROE(5y)16.84%
ROIC(3y)13.06%
ROIC(5y)N/A
ROICexc(3y)13.27%
ROICexc(5y)N/A
ROICexgc(3y)13.27%
ROICexgc(5y)N/A
ROCE(3y)16.66%
ROCE(5y)N/A
ROICexgc growth 3Y-2.66%
ROICexgc growth 5Y10.27%
ROICexc growth 3Y-2.66%
ROICexc growth 5Y10.27%
OM growth 3Y-4.83%
OM growth 5Y2.21%
PM growth 3Y-12.43%
PM growth 5Y-6.28%
GM growth 3Y-3.13%
GM growth 5Y-1.06%
F-Score4
Asset Turnover0.45
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.41 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.94 | ||
| Cap/Depr | 210.68% | ||
| Cap/Sales | 39.55% | ||
| Interest Coverage | 13.92 | ||
| Cash Conversion | 77.29% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.85 | ||
| Quick Ratio | 0.54 | ||
| Altman-Z | 2.6 |
F-Score4
WACC7.18%
ROIC/WACC1.53
Cap/Depr(3y)121.37%
Cap/Depr(5y)96.99%
Cap/Sales(3y)22.2%
Cap/Sales(5y)19.34%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-0.83%
EPS 3Y4.92%
EPS 5Y16.79%
EPS Q2Q%-9.89%
EPS Next Y-0.49%
EPS Next 2Y-5.37%
EPS Next 3Y15.52%
EPS Next 5Y17.58%
Revenue 1Y (TTM)-0.87%
Revenue growth 3Y5.86%
Revenue growth 5Y9.29%
Sales Q2Q%9.55%
Revenue Next Year7.16%
Revenue Next 2Y0.74%
Revenue Next 3Y3%
Revenue Next 5Y1.17%
EBIT growth 1Y1%
EBIT growth 3Y0.75%
EBIT growth 5Y11.71%
EBIT Next Year114.69%
EBIT Next 3Y28.54%
EBIT Next 5Y18.21%
FCF growth 1Y-112.63%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-5.79%
OCF growth 3Y-2.58%
OCF growth 5Y8.68%
CANADIAN NATURAL RESOURCES / CNQ.CA FAQ
Can you provide the ChartMill fundamental rating for CANADIAN NATURAL RESOURCES?
ChartMill assigns a fundamental rating of 5 / 10 to CNQ.CA.
What is the valuation status for CNQ stock?
ChartMill assigns a valuation rating of 5 / 10 to CANADIAN NATURAL RESOURCES (CNQ.CA). This can be considered as Fairly Valued.
What is the profitability of CNQ stock?
CANADIAN NATURAL RESOURCES (CNQ.CA) has a profitability rating of 8 / 10.
Can you provide the financial health for CNQ stock?
The financial health rating of CANADIAN NATURAL RESOURCES (CNQ.CA) is 3 / 10.
Can you provide the dividend sustainability for CNQ stock?
The dividend rating of CANADIAN NATURAL RESOURCES (CNQ.CA) is 6 / 10 and the dividend payout ratio is 55.82%.