CANADIAN NATURAL RESOURCES (CNQ.CA) Fundamental Analysis & Valuation

TSX:CNQ • CA1363851017

Current stock price

66.51 CAD
+0.34 (+0.51%)
Last:

This CNQ.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. CNQ.CA Profitability Analysis

1.1 Basic Checks

  • In the past year CNQ was profitable.
  • In the past year CNQ had a positive cash flow from operations.
  • CNQ had positive earnings in 4 of the past 5 years.
  • Of the past 5 years CNQ 4 years had a positive operating cash flow.
CNQ.CA Yearly Net Income VS EBIT VS OCF VS FCFCNQ.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

1.2 Ratios

  • CNQ has a Return On Assets of 7.78%. This is amongst the best in the industry. CNQ outperforms 91.98% of its industry peers.
  • With an excellent Return On Equity value of 16.45%, CNQ belongs to the best of the industry, outperforming 94.34% 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 94.81% 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 6.67%.
Industry RankSector 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
CNQ.CA Yearly ROA, ROE, ROICCNQ.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 17.23%, CNQ belongs to the top of the industry, outperforming 81.13% of the companies in the same industry.
  • In the last couple of years the Profit Margin of CNQ has declined.
  • With an excellent Operating Margin value of 26.62%, CNQ belongs to the best of the industry, outperforming 82.55% 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 75.00% of its industry peers.
  • CNQ's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%
CNQ.CA Yearly Profit, Operating, Gross MarginsCNQ.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

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3

2. CNQ.CA Health Analysis

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.
  • CNQ has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
CNQ.CA Yearly Shares OutstandingCNQ.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
CNQ.CA Yearly Total Debt VS Total AssetsCNQ.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B

2.2 Solvency

  • An Altman-Z score of 3.14 indicates that CNQ is not in any danger for bankruptcy at the moment.
  • CNQ has a Altman-Z score of 3.14. This is in the better half of the industry: CNQ outperforms 78.30% of its industry peers.
  • A Debt/Equity ratio of 0.44 indicates that CNQ is not too dependend on debt financing.
  • CNQ's Debt to Equity ratio of 0.44 is in line compared to the rest of the industry. CNQ outperforms 53.77% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF N/A
Altman-Z 3.14
ROIC/WACC1.39
WACC7.49%
CNQ.CA Yearly LT Debt VS Equity VS FCFCNQ.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B 30B

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.
  • CNQ's Current ratio of 0.86 is in line compared to the rest of the industry. CNQ outperforms 58.96% of its industry peers.
  • A Quick Ratio of 0.53 indicates that CNQ may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.53, CNQ is doing worse than 63.21% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.86
Quick Ratio 0.53
CNQ.CA Yearly Current Assets VS Current LiabilitesCNQ.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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2

3. CNQ.CA Growth Analysis

3.1 Past

  • CNQ shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 2.02%.
  • CNQ shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.14% yearly.
EPS 1Y (TTM)2.02%
EPS 3Y-14.14%
EPS 5YN/A
EPS Q2Q%-13.45%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-0.68%

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 0.12% on average per year.
  • The Revenue is expected to grow by 0.24% on average over the next years.
EPS Next Y-17.85%
EPS Next 2Y0.21%
EPS Next 3Y23.17%
EPS Next 5Y0.12%
Revenue Next Year-5.58%
Revenue Next 2Y-1.56%
Revenue Next 3Y-0.52%
Revenue Next 5Y0.24%

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 accelerating.
CNQ.CA Yearly Revenue VS EstimatesCNQ.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 10B 20B 30B 40B
CNQ.CA Yearly EPS VS EstimatesCNQ.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 2 4 6

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4

4. CNQ.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 18.84, which indicates a rather expensive current valuation of CNQ.
  • CNQ's Price/Earnings ratio is a bit cheaper when compared to the industry. CNQ is cheaper than 67.92% of the companies in the same industry.
  • CNQ's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.70.
  • Based on the Price/Forward Earnings ratio of 22.90, the valuation of CNQ can be described as rather expensive.
  • 66.51% of the companies in the same industry are more expensive than CNQ, based on the Price/Forward Earnings ratio.
  • CNQ's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.84.
Industry RankSector Rank
PE 18.84
Fwd PE 22.9
CNQ.CA Price Earnings VS Forward Price EarningsCNQ.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, CNQ is valued a bit cheaper than 74.53% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.23
CNQ.CA Per share dataCNQ.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

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 23.17% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y0.21%
EPS Next 3Y23.17%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. CNQ.CA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.03%, CNQ is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.17, 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 1.82.
Industry RankSector Rank
Dividend Yield 4.03%

5.2 History

  • On average, the dividend of CNQ grows each year by 23.13%, 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)23.13%
Div Incr Years1
Div Non Decr Years1
CNQ.CA Yearly Dividends per shareCNQ.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

  • 71.45% of the earnings are spent on dividend by CNQ. 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 2Y0.21%
EPS Next 3Y23.17%
CNQ.CA Yearly Income VS Free CF VS DividendCNQ.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B
CNQ.CA Dividend Payout.CNQ.CA Dividend Payout, showing the Payout Ratio.CNQ.CA Dividend Payout.PayoutRetained Earnings

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CNQ.CA Fundamentals: All Metrics, Ratios and Statistics

CANADIAN NATURAL RESOURCES

TSX:CNQ (3/13/2026, 7:00:00 PM)

66.51

+0.34 (+0.51%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)03-05
Earnings (Next)05-06
Inst Owners75.39%
Inst Owner ChangeN/A
Ins Owners2.24%
Ins Owner ChangeN/A
Market Cap138.65B
Revenue(TTM)N/A
Net Income(TTM)6.66B
Analysts73.6
Price Target54.18 (-18.54%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.03%
Yearly Dividend2.33
Dividend Growth(5Y)23.13%
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)1.07%
PT rev (3m)0.12%
EPS NQ rev (1m)-1.65%
EPS NQ rev (3m)-7.42%
EPS NY rev (1m)0.99%
EPS NY rev (3m)-1.21%
Revenue NQ rev (1m)-0.47%
Revenue NQ rev (3m)-5.45%
Revenue NY rev (1m)-0.5%
Revenue NY rev (3m)0.54%
Valuation
Industry RankSector Rank
PE 18.84
Fwd PE 22.9
P/S 3.59
P/FCF N/A
P/OCF 9.39
P/B 3.43
P/tB 3.43
EV/EBITDA 8.23
EPS(TTM)3.53
EY5.31%
EPS(NY)2.9
Fwd EY4.37%
FCF(TTM)-0.5
FCFYN/A
OCF(TTM)7.09
OCFY10.65%
SpS18.53
BVpS19.41
TBVpS19.41
PEG (NY)N/A
PEG (5Y)N/A
Graham Number39.26
Profitability
Industry RankSector 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 RankSector 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 3.14
F-Score5
WACC7.49%
ROIC/WACC1.39
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)2.02%
EPS 3Y-14.14%
EPS 5YN/A
EPS Q2Q%-13.45%
EPS Next Y-17.85%
EPS Next 2Y0.21%
EPS Next 3Y23.17%
EPS Next 5Y0.12%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-0.68%
Revenue Next Year-5.58%
Revenue Next 2Y-1.56%
Revenue Next 3Y-0.52%
Revenue Next 5Y0.24%
EBIT growth 1Y3.24%
EBIT growth 3Y0.75%
EBIT growth 5Y11.71%
EBIT Next Year107.85%
EBIT Next 3Y27.99%
EBIT Next 5Y16.86%
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 Fundamental Analysis 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 4 / 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 18.84 and the Price/Book (PB) ratio is 3.43.


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.