CANADIAN NATURAL RESOURCES (CNQ.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:CNQ - CA1363851017 - Common Stock
43.71 CAD
+1.33 (+3.14%)
Overall CNQ gets a fundamental rating of 5 out of 10. We evaluated CNQ against 214 industry peers in the Oil, Gas & Consumable Fuels industry. CNQ has an excellent profitability rating, 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
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.
In the past 5 years CNQ always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of CNQ (7.78%) is better than 91.59% of its industry peers.
Looking at the Return On Equity, with a value of 16.45%, CNQ belongs to the top of the industry, outperforming 93.93% of the companies in the same industry.
The Return On Invested Capital of CNQ (10.43%) is better than 94.86% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CNQ is significantly above the industry average of 6.42%.
| 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
CNQ has a better Profit Margin (17.23%) than 79.91% of its industry peers.
CNQ's Profit Margin has declined in the last couple of years.
The Operating Margin of CNQ (26.62%) is better than 81.31% of its industry peers.
In the last couple of years the Operating Margin of CNQ has grown nicely.
Looking at the Gross Margin, with a value of 48.85%, CNQ is in the better half of the industry, outperforming 74.77% of the companies in the same industry.
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
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), CNQ is creating value.
The number of shares outstanding for CNQ has been reduced compared to 1 year ago.
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 2.52. 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.
CNQ's Altman-Z score of 2.52 is fine compared to the rest of the industry. CNQ outperforms 76.64% of its industry peers.
CNQ has a Debt/Equity ratio of 0.44. This is a healthy value indicating a solid balance between debt and equity.
CNQ has a Debt to Equity ratio (0.44) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.52 |
ROIC/WACC1.48
WACC7.06%
2.3 Liquidity
CNQ has a Current 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.
The Current ratio of CNQ (0.86) is better than 60.28% of its industry peers.
A Quick Ratio of 0.53 indicates that CNQ may have some problems paying its short term obligations.
The Quick ratio of CNQ (0.53) is worse than 62.15% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.86 | ||
| Quick Ratio | 0.53 |
3. Growth
3.1 Past
CNQ shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.21%.
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.
Looking at the last year, CNQ shows a quite strong growth in Revenue. The Revenue has grown by 8.06% in the last 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)-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
The Earnings Per Share is expected to grow by 16.35% on average over the next years. This is quite good.
The Revenue is expected to grow by 1.07% on average over the next years.
EPS Next Y-1.65%
EPS Next 2Y-4.46%
EPS Next 3Y4.48%
EPS Next 5Y16.35%
Revenue Next Year6.9%
Revenue Next 2Y1.78%
Revenue Next 3Y1.68%
Revenue Next 5Y1.07%
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 stable.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 11.94, the valuation of CNQ can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of CNQ indicates a somewhat cheap valuation: CNQ is cheaper than 70.09% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.00. CNQ is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 13.82 indicates a correct valuation of CNQ.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CNQ indicates a somewhat cheap valuation: CNQ is cheaper than 64.02% of the companies listed in the same industry.
CNQ's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.70.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.94 | ||
| Fwd PE | 13.82 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CNQ indicates a rather cheap valuation: CNQ is cheaper than 86.45% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 5.76 |
4.3 Compensation for Growth
CNQ has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.71
EPS Next 2Y-4.46%
EPS Next 3Y4.48%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.05%, CNQ is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 2.73, CNQ pays a bit more dividend than its industry peers.
CNQ's Dividend Yield is rather good when compared to the S&P500 average which is at 1.94.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.05% |
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 71.45% of its income as dividend. This is not a sustainable payout ratio.
CNQ's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP71.45%
EPS Next 2Y-4.46%
EPS Next 3Y4.48%
TSX:CNQ (1/8/2026, 7:00:00 PM)
43.71
+1.33 (+3.14%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners75.5%
Inst Owner ChangeN/A
Ins Owners2.22%
Ins Owner ChangeN/A
Market Cap91.06B
Revenue(TTM)38.62B
Net Income(TTM)6.66B
Analysts73.6
Price Target53.95 (23.43%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.05% |
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)-0.62%
PT rev (3m)0.64%
EPS NQ rev (1m)-6.06%
EPS NQ rev (3m)-9.3%
EPS NY rev (1m)-1.47%
EPS NY rev (3m)-1.17%
Revenue NQ rev (1m)-4.69%
Revenue NQ rev (3m)-5.82%
Revenue NY rev (1m)1.05%
Revenue NY rev (3m)-0.24%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.94 | ||
| Fwd PE | 13.82 | ||
| P/S | 2.36 | ||
| P/FCF | N/A | ||
| P/OCF | 6.17 | ||
| P/B | 2.25 | ||
| P/tB | 2.25 | ||
| EV/EBITDA | 5.76 |
EPS(TTM)3.66
EY8.37%
EPS(NY)3.16
Fwd EY7.24%
FCF(TTM)-0.5
FCFYN/A
OCF(TTM)7.09
OCFY16.22%
SpS18.54
BVpS19.42
TBVpS19.42
PEG (NY)N/A
PEG (5Y)0.71
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 | 2.52 |
F-Score5
WACC7.06%
ROIC/WACC1.48
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 5Y16.35%
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 5Y1.07%
EBIT growth 1Y3.24%
EBIT growth 3Y0.75%
EBIT growth 5Y11.71%
EBIT Next Year109.23%
EBIT Next 3Y29.54%
EBIT Next 5Y18.2%
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 11.94 and the Price/Book (PB) ratio is 2.25.
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.