CANADIAN NATURAL RESOURCES (CNQ.CA) Stock Fundamental Analysis
Canada - TSX:CNQ - CA1363851017 - Common Stock
47.06 CAD
+1.4 (+3.07%)
Taking everything into account, CNQ scores 5 out of 10 in our fundamental rating. CNQ was compared to 214 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. Finally CNQ also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year CNQ was profitable.
CNQ had a positive operating cash flow in the past year.
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 Return On Assets of 9.76%. This is amongst the best in the industry. CNQ outperforms 91.59% of its industry peers.
CNQ has a better Return On Equity (20.15%) than 95.33% of its industry peers.
Looking at the Return On Invested Capital, with a value of 10.99%, CNQ belongs to the top of the industry, outperforming 94.39% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for CNQ is significantly above the industry average of 6.87%.
| 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
With an excellent Profit Margin value of 21.90%, CNQ belongs to the best of the industry, outperforming 84.58% of the companies in the same industry.
In the last couple of years the Profit Margin of CNQ has declined.
CNQ's Operating Margin of 28.32% is amongst the best of the industry. CNQ outperforms 80.37% of its industry peers.
CNQ's Operating Margin has improved in the last couple of years.
CNQ has a Gross Margin of 49.63%. This is in the better half of the industry: CNQ outperforms 73.83% of its industry peers.
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 2.63. 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 Altman-Z score of 2.63. This is in the better half of the industry: CNQ outperforms 74.30% 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.
The Debt to Equity ratio of CNQ (0.41) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.41 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.63 |
ROIC/WACC1.54
WACC7.14%
2.3 Liquidity
A Current Ratio of 0.85 indicates that CNQ may have some problems paying its short term obligations.
CNQ has a Current ratio (0.85) which is in line with its industry peers.
CNQ has a Quick 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.
Looking at the Quick ratio, with a value of 0.54, CNQ is doing worse than 72.90% of the companies in the same industry.
| 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.
CNQ shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.79% yearly.
Looking at the last year, CNQ shows a decrease in Revenue. The Revenue has decreased by -0.87% in the last year.
The Revenue has been growing by 9.29% on average over the past years. This is quite good.
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
The Earnings Per Share is expected to grow by 17.58% on average over the next years. This is quite good.
The Revenue is expected to grow by 1.31% on average over the next years.
EPS Next Y2.99%
EPS Next 2Y-4.08%
EPS Next 3Y8.68%
EPS Next 5Y17.58%
Revenue Next Year5.99%
Revenue Next 2Y1.01%
Revenue Next 3Y2.64%
Revenue Next 5Y1.31%
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.
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 12.82 indicates a correct valuation of CNQ.
Based on the Price/Earnings ratio, CNQ is valued a bit cheaper than the industry average as 68.69% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 25.89. CNQ is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 14.76, the valuation of CNQ can be described as correct.
Based on the Price/Forward Earnings ratio, CNQ is valued a bit cheaper than 61.22% of the companies in the same industry.
CNQ's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 34.59.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.82 | ||
| Fwd PE | 14.76 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CNQ is valued cheaply inside the industry as 80.84% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 6.35 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of CNQ may justify a higher PE ratio.
PEG (NY)4.3
PEG (5Y)0.76
EPS Next 2Y-4.08%
EPS Next 3Y8.68%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.29%, CNQ is a good candidate for dividend investing.
CNQ's Dividend Yield is rather good when compared to the industry average which is at 4.97. CNQ pays more dividend than 85.51% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.36, CNQ pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.29% |
5.2 History
On average, the dividend of CNQ grows each year by 23.37%, which is quite nice.
CNQ has been paying a dividend for at least 10 years, so it has 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.
The dividend of CNQ is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP55.82%
EPS Next 2Y-4.08%
EPS Next 3Y8.68%
TSX:CNQ (11/14/2025, 7:00:00 PM)
47.06
+1.4 (+3.07%)
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 Cap98.22B
Revenue(TTM)35.66B
Net Income(TTM)8.32B
Analysts75.2
Price Target54.03 (14.81%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.29% |
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)2.57%
EPS NQ rev (1m)-4.34%
EPS NQ rev (3m)-4.07%
EPS NY rev (1m)3.49%
EPS NY rev (3m)2.93%
Revenue NQ rev (1m)-4.5%
Revenue NQ rev (3m)-1.61%
Revenue NY rev (1m)-1.09%
Revenue NY rev (3m)-1.21%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.82 | ||
| Fwd PE | 14.76 | ||
| P/S | 2.58 | ||
| P/FCF | N/A | ||
| P/OCF | 7.1 | ||
| P/B | 2.38 | ||
| P/tB | 2.38 | ||
| EV/EBITDA | 6.35 |
EPS(TTM)3.67
EY7.8%
EPS(NY)3.19
Fwd EY6.77%
FCF(TTM)-0.57
FCFYN/A
OCF(TTM)6.63
OCFY14.08%
SpS18.21
BVpS19.79
TBVpS19.79
PEG (NY)4.3
PEG (5Y)0.76
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 | 2.63 |
F-Score4
WACC7.14%
ROIC/WACC1.54
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 Y2.99%
EPS Next 2Y-4.08%
EPS Next 3Y8.68%
EPS Next 5Y17.58%
Revenue 1Y (TTM)-0.87%
Revenue growth 3Y5.86%
Revenue growth 5Y9.29%
Sales Q2Q%9.55%
Revenue Next Year5.99%
Revenue Next 2Y1.01%
Revenue Next 3Y2.64%
Revenue Next 5Y1.31%
EBIT growth 1Y1%
EBIT growth 3Y0.75%
EBIT growth 5Y11.71%
EBIT Next Year114.69%
EBIT Next 3Y28.54%
EBIT Next 5Y18.38%
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 7 / 10 and the dividend payout ratio is 55.82%.