CANADIAN NATURAL RESOURCES (CNQ.CA) Stock Fundamental Analysis
Canada - TSX:CNQ - CA1363851017 - Common Stock
43.44 CAD
-0.53 (-1.21%)
Overall CNQ gets a fundamental rating of 5 out of 10. We evaluated CNQ against 210 industry peers in the Oil, Gas & Consumable Fuels industry. CNQ has an excellent profitability rating, but there are concerns on its financial health. CNQ has a decent growth rate and is not valued too expensively. Finally CNQ also has an excellent dividend rating.
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.
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
CNQ's Return On Assets of 9.76% is amongst the best of the industry. CNQ outperforms 91.43% of its industry peers.
CNQ's Return On Equity of 20.15% is amongst the best of the industry. CNQ outperforms 94.76% of its industry peers.
CNQ has a better Return On Invested Capital (10.99%) than 94.29% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CNQ is significantly above the industry average of 6.85%.
| 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 83.81% of its industry peers.
CNQ's Profit Margin has declined in the last couple of years.
CNQ's Operating Margin of 28.32% is fine compared to the rest of the industry. CNQ outperforms 80.00% 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 73.81% 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 | 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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), CNQ is creating some value.
Compared to 1 year ago, CNQ has less shares outstanding
CNQ has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, CNQ has a worse debt to assets ratio.
2.2 Solvency
CNQ has an Altman-Z score of 2.59. 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 has a better Altman-Z score (2.59) than 75.24% of its industry peers.
A Debt/Equity ratio of 0.41 indicates that CNQ is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.41, CNQ is in line with its industry, outperforming 52.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.41 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.59 |
ROIC/WACC1.45
WACC7.56%
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.
With a Current ratio value of 0.85, CNQ perfoms like the industry average, outperforming 56.67% of the companies in the same 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 73.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.85 | ||
| Quick Ratio | 0.54 |
3. Growth
3.1 Past
CNQ shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -6.45%.
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 been growing slightly by 3.42% 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)-6.45%
EPS 3Y4.92%
EPS 5Y16.79%
EPS Q2Q%-19.32%
Revenue 1Y (TTM)3.42%
Revenue growth 3Y5.86%
Revenue growth 5Y9.29%
Sales Q2Q%-3.9%
3.2 Future
Based on estimates for the next years, CNQ will show a quite strong growth in Earnings Per Share. The EPS will grow by 17.58% on average per year.
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.
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
CNQ is valuated reasonably with a Price/Earnings ratio of 11.52.
Based on the Price/Earnings ratio, CNQ is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 27.50. CNQ is valued rather cheaply when compared to this.
CNQ is valuated correctly with a Price/Forward Earnings ratio of 14.00.
CNQ's Price/Forward Earnings is on the same level as the industry average.
CNQ is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.99, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.52 | ||
| Fwd PE | 14 |
4.2 Price Multiples
80.00% 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 | 6.15 |
4.3 Compensation for Growth
CNQ has an outstanding profitability rating, which may justify a higher PE ratio.
CNQ's earnings are expected to grow with 15.52% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)0.69
EPS Next 2Y-5.37%
EPS Next 3Y15.52%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.12%, CNQ is a good candidate for dividend investing.
CNQ's Dividend Yield is rather good when compared to the industry average which is at 7.51. CNQ pays more dividend than 81.43% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.44, CNQ pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.12% |
5.2 History
The dividend of CNQ is nicely growing with an annual growth rate of 23.37%!
CNQ has paid a dividend for at least 10 years, which is a reliable track record.
CNQ has decreased its dividend recently.
Dividend Growth(5Y)23.37%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
55.82% of the earnings are spent on dividend by CNQ. 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 (10/14/2025, 7:00:00 PM)
43.44
-0.53 (-1.21%)
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 Cap90.66B
Analysts75.83
Price Target53.61 (23.41%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.12% |
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%
PT rev (3m)2.28%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.04%
EPS NY rev (1m)-1.18%
EPS NY rev (3m)-0.54%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)4.31%
Revenue NY rev (1m)-0.23%
Revenue NY rev (3m)-8.78%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.52 | ||
| Fwd PE | 14 | ||
| P/S | 2.39 | ||
| P/FCF | N/A | ||
| P/OCF | 6.55 | ||
| P/B | 2.2 | ||
| P/tB | 2.2 | ||
| EV/EBITDA | 6.15 |
EPS(TTM)3.77
EY8.68%
EPS(NY)3.1
Fwd EY7.14%
FCF(TTM)-0.57
FCFYN/A
OCF(TTM)6.63
OCFY15.26%
SpS18.21
BVpS19.79
TBVpS19.79
PEG (NY)N/A
PEG (5Y)0.69
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
ROICexcg growth 3Y-2.66%
ROICexcg 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 | 2.59 |
F-Score4
WACC7.56%
ROIC/WACC1.45
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)-6.45%
EPS 3Y4.92%
EPS 5Y16.79%
EPS Q2Q%-19.32%
EPS Next Y-0.49%
EPS Next 2Y-5.37%
EPS Next 3Y15.52%
EPS Next 5Y17.58%
Revenue 1Y (TTM)3.42%
Revenue growth 3Y5.86%
Revenue growth 5Y9.29%
Sales Q2Q%-3.9%
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%