CANADIAN NATURAL RESOURCES (CNQ.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:CNQ - CA1363851017 - Common Stock
49.75 CAD
+1.7 (+3.54%)
CNQ gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 214 industry peers in the Oil, Gas & Consumable Fuels industry. CNQ scores excellent on profitability, but 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
- In the past year CNQ was profitable.
- In the past year CNQ had a positive cash flow from operations.
- Of the past 5 years CNQ 4 years were profitable.
- CNQ had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- Looking at the Return On Assets, with a value of 7.78%, CNQ belongs to the top of the industry, outperforming 91.59% of the companies in the same industry.
- With an excellent Return On Equity value of 16.45%, CNQ belongs to the best of the industry, outperforming 93.93% of the companies in the same industry.
- With an excellent Return On Invested Capital value of 10.43%, CNQ belongs to the best of the industry, outperforming 94.86% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for CNQ is significantly above the industry average of 6.53%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.78% | ||
| ROE | 16.45% | ||
| ROIC | 10.43% |
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 (17.23%) is better than 80.37% of its industry peers.
- In the last couple of years the Profit Margin of CNQ has declined.
- Looking at the Operating Margin, with a value of 26.62%, CNQ belongs to the top of the industry, outperforming 81.78% of the companies in the same industry.
- In the last couple of years the Operating Margin of CNQ has grown nicely.
- CNQ's Gross Margin of 48.85% is fine compared to the rest of the industry. CNQ outperforms 74.77% of its industry peers.
- CNQ's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 26.62% | ||
| PM (TTM) | 17.23% | ||
| GM | 48.85% |
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 just above the Cost of Capital (WACC), which means it is creating some value.
- Compared to 1 year ago, CNQ has less shares outstanding
- Compared to 5 years ago, CNQ has less shares outstanding
- CNQ has a worse debt/assets ratio than last year.
2.2 Solvency
- CNQ has an Altman-Z score of 2.62. 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 (2.62) is better than 75.23% of its industry peers.
- A Debt/Equity ratio of 0.44 indicates that CNQ is not too dependend on debt financing.
- With a Debt to Equity ratio value of 0.44, CNQ perfoms like the industry average, outperforming 52.80% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.62 |
ROIC/WACC1.43
WACC7.3%
2.3 Liquidity
- A Current Ratio of 0.86 indicates that CNQ may have some problems paying its short term obligations.
- CNQ has a Current ratio of 0.86. This is comparable to the rest of the industry: CNQ outperforms 59.81% of its industry peers.
- CNQ has a Quick Ratio of 0.86. 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 worse Quick ratio (0.53) than 62.15% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.86 | ||
| Quick Ratio | 0.53 |
3. Growth
3.1 Past
- The earnings per share for CNQ have decreased by -1.21% in the last year.
- CNQ shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.79% yearly.
- CNQ shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.06%.
- The Revenue has been growing by 9.29% on average over the past years. This is quite good.
EPS 1Y (TTM)-1.21%
EPS 3Y4.92%
EPS 5Y16.79%
EPS Q2Q%-11.34%
Revenue 1Y (TTM)8.06%
Revenue growth 3Y5.86%
Revenue growth 5Y9.29%
Sales Q2Q%7.01%
3.2 Future
- Based on estimates for the next years, CNQ will show a small growth in Earnings Per Share. The EPS will grow by 0.19% on average per year.
- CNQ is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.12% yearly.
EPS Next Y-1.65%
EPS Next 2Y-4.46%
EPS Next 3Y4.48%
EPS Next 5Y0.19%
Revenue Next Year6.9%
Revenue Next 2Y1.78%
Revenue Next 3Y1.68%
Revenue Next 5Y1.12%
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
- 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
- CNQ is valuated correctly with a Price/Earnings ratio of 13.59.
- CNQ's Price/Earnings ratio is a bit cheaper when compared to the industry. CNQ is cheaper than 70.56% of the companies in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 27.32, CNQ is valued rather cheaply.
- With a Price/Forward Earnings ratio of 15.73, CNQ is valued correctly.
- Based on the Price/Forward Earnings ratio, CNQ is valued a bit cheaper than the industry average as 64.95% of the companies are valued more expensively.
- CNQ's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.30.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.59 | ||
| Fwd PE | 15.73 |
4.2 Price Multiples
- 85.05% 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 | 6.19 |
4.3 Compensation for Growth
- The excellent profitability rating of CNQ may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.81
EPS Next 2Y-4.46%
EPS Next 3Y4.48%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 4.95%, CNQ is a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 2.82, CNQ pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.86, CNQ pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.95% |
5.2 History
- The dividend of CNQ is nicely growing with an annual growth rate of 23.37%!
- CNQ has been paying a dividend for at least 10 years, so it has 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
- 71.45% of the earnings are spent on dividend by CNQ. This is not a sustainable payout ratio.
- The dividend of CNQ is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP71.45%
EPS Next 2Y-4.46%
EPS Next 3Y4.48%
TSX:CNQ (1/21/2026, 7:00:00 PM)
49.75
+1.7 (+3.54%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)11-06 2025-11-06/bmo
Earnings (Next)03-04 2026-03-04/amc
Inst Owners75.5%
Inst Owner ChangeN/A
Ins Owners2.22%
Ins Owner ChangeN/A
Market Cap103.64B
Revenue(TTM)38.62B
Net Income(TTM)6.66B
Analysts73.6
Price Target53.9 (8.34%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.95% |
Yearly Dividend2.09
Dividend Growth(5Y)23.37%
DP71.45%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)6.33%
Min EPS beat(2)-0.27%
Max EPS beat(2)12.93%
EPS beat(4)2
Avg EPS beat(4)5.29%
Min EPS beat(4)-0.9%
Max EPS beat(4)12.93%
EPS beat(8)5
Avg EPS beat(8)4.49%
EPS beat(12)7
Avg EPS beat(12)3.16%
EPS beat(16)11
Avg EPS beat(16)4.12%
Revenue beat(2)0
Avg Revenue beat(2)-2.62%
Min Revenue beat(2)-2.64%
Max Revenue beat(2)-2.6%
Revenue beat(4)2
Avg Revenue beat(4)0.33%
Min Revenue beat(4)-2.64%
Max Revenue beat(4)4.16%
Revenue beat(8)4
Avg Revenue beat(8)0.16%
Revenue beat(12)8
Avg Revenue beat(12)1.3%
Revenue beat(16)12
Avg Revenue beat(16)5.3%
PT rev (1m)-0.4%
PT rev (3m)0.54%
EPS NQ rev (1m)-4.18%
EPS NQ rev (3m)-15.23%
EPS NY rev (1m)-1.47%
EPS NY rev (3m)-1.17%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.63%
Revenue NY rev (1m)1.05%
Revenue NY rev (3m)-0.24%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.59 | ||
| Fwd PE | 15.73 | ||
| P/S | 2.68 | ||
| P/FCF | N/A | ||
| P/OCF | 7.02 | ||
| P/B | 2.56 | ||
| P/tB | 2.56 | ||
| EV/EBITDA | 6.19 |
EPS(TTM)3.66
EY7.36%
EPS(NY)3.16
Fwd EY6.36%
FCF(TTM)-0.5
FCFYN/A
OCF(TTM)7.09
OCFY14.25%
SpS18.54
BVpS19.42
TBVpS19.42
PEG (NY)N/A
PEG (5Y)0.81
Graham Number39.99
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.78% | ||
| ROE | 16.45% | ||
| ROCE | 13.3% | ||
| ROIC | 10.43% | ||
| ROICexc | 10.44% | ||
| ROICexgc | 10.44% | ||
| OM | 26.62% | ||
| PM (TTM) | 17.23% | ||
| GM | 48.85% | ||
| 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-Score5
Asset Turnover0.45
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.93 | ||
| Cap/Depr | 180.69% | ||
| Cap/Sales | 40.92% | ||
| Interest Coverage | 12.17 | ||
| Cash Conversion | 77.63% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.86 | ||
| Quick Ratio | 0.53 | ||
| Altman-Z | 2.62 |
F-Score5
WACC7.3%
ROIC/WACC1.43
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)-1.21%
EPS 3Y4.92%
EPS 5Y16.79%
EPS Q2Q%-11.34%
EPS Next Y-1.65%
EPS Next 2Y-4.46%
EPS Next 3Y4.48%
EPS Next 5Y0.19%
Revenue 1Y (TTM)8.06%
Revenue growth 3Y5.86%
Revenue growth 5Y9.29%
Sales Q2Q%7.01%
Revenue Next Year6.9%
Revenue Next 2Y1.78%
Revenue Next 3Y1.68%
Revenue Next 5Y1.12%
EBIT growth 1Y3.24%
EBIT growth 3Y0.75%
EBIT growth 5Y11.71%
EBIT Next Year109.23%
EBIT Next 3Y29.54%
EBIT Next 5Y16.5%
FCF growth 1Y-114.97%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y22.25%
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.
Can you provide the valuation status for CANADIAN NATURAL RESOURCES?
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.
What are the PE and PB ratios of CANADIAN NATURAL RESOURCES (CNQ.CA) stock?
The Price/Earnings (PE) ratio for CANADIAN NATURAL RESOURCES (CNQ.CA) is 13.59 and the Price/Book (PB) ratio is 2.56.
What is the financial health of CANADIAN NATURAL RESOURCES (CNQ.CA) stock?
The financial health rating of CANADIAN NATURAL RESOURCES (CNQ.CA) is 3 / 10.