CANADIAN NATURAL RESOURCES (CNQ) Stock Fundamental Analysis
USA • New York Stock Exchange • NYSE:CNQ • CA1363851017
37.21 USD
-0.66 (-1.74%)
At close: Jan 30, 2026
37 USD
-0.21 (-0.56%)
After Hours: 1/30/2026, 8:04:00 PM
We assign a fundamental rating of 4 out of 10 to CNQ. CNQ was compared to 207 industry peers in the Oil, Gas & Consumable Fuels industry. CNQ has a medium profitability rating, but doesn't score so well on its financial health evaluation. CNQ has a decent growth rate and is not valued too expensively.
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.
- Each year in the past 5 years CNQ had a positive operating cash flow.
1.2 Ratios
- CNQ has a better Return On Assets (7.78%) than 80.19% 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 81.16% of the companies in the same industry.
- CNQ's Return On Invested Capital of 10.43% is amongst the best of the industry. CNQ outperforms 85.51% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for CNQ is significantly below the industry average of 21.94%.
| 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's Profit Margin of 17.23% is fine compared to the rest of the industry. CNQ outperforms 71.01% of its industry peers.
- CNQ's Profit Margin has declined in the last couple of years.
- CNQ has a better Operating Margin (26.62%) than 67.15% of its industry peers.
- In the last couple of years the Operating Margin of CNQ has grown nicely.
- With a Gross Margin value of 48.85%, CNQ perfoms like the industry average, outperforming 58.45% 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) just above the Cost of Capital (WACC), CNQ is creating some 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.
- CNQ has a worse debt/assets ratio than last year.
2.2 Solvency
- An Altman-Z score of 2.70 indicates that CNQ is not a great score, but indicates only limited risk for bankruptcy at the moment.
- Looking at the Altman-Z score, with a value of 2.70, CNQ is in the better half of the industry, outperforming 76.33% of the companies in the same industry.
- 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 of 0.44. This is comparable to the rest of the industry: CNQ outperforms 53.62% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.7 |
ROIC/WACC1.4
WACC7.46%
2.3 Liquidity
- A Current Ratio of 0.86 indicates that CNQ may have some problems paying its short term obligations.
- With a Current ratio value of 0.86, CNQ is not doing good in the industry: 63.77% of the companies in the same industry are doing better.
- A Quick Ratio of 0.53 indicates that CNQ may have some problems paying its short term obligations.
- CNQ has a worse Quick ratio (0.53) than 80.19% 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.
- The Earnings Per Share has been growing by 16.79% on average over the past years. This is quite good.
- The Revenue has grown by 8.06% in the past year. This is quite good.
- 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.
- The Revenue is expected to grow by 1.12% on average over the next years.
EPS Next Y-2.36%
EPS Next 2Y-6.65%
EPS Next 3Y2.84%
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.
- 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
- The Price/Earnings ratio is 13.73, which indicates a correct valuation of CNQ.
- Based on the Price/Earnings ratio, CNQ is valued a bit cheaper than the industry average as 64.73% of the companies are valued more expensively.
- CNQ is valuated cheaply when we compare the Price/Earnings ratio to 28.32, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 16.67, the valuation of CNQ can be described as correct.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of CNQ is on the same level as its industry peers.
- The average S&P500 Price/Forward Earnings ratio is at 25.57. CNQ is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.73 | ||
| Fwd PE | 16.67 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, CNQ is valued a bit cheaper than 68.12% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 6.49 |
4.3 Compensation for Growth
- CNQ has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.82
EPS Next 2Y-6.65%
EPS Next 3Y2.84%
5. Dividend
5.1 Amount
- CNQ has a Yearly Dividend Yield of 4.61%, which is a nice return.
- CNQ's Dividend Yield is a higher than the industry average which is at 3.64.
- CNQ's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.61% |
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
- 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 2Y-6.65%
EPS Next 3Y2.84%
CANADIAN NATURAL RESOURCES / CNQ FAQ
Can you provide the ChartMill fundamental rating for CANADIAN NATURAL RESOURCES?
ChartMill assigns a fundamental rating of 4 / 10 to CNQ.
Can you provide the valuation status for CANADIAN NATURAL RESOURCES?
ChartMill assigns a valuation rating of 4 / 10 to CANADIAN NATURAL RESOURCES (CNQ). This can be considered as Fairly Valued.
What is the profitability of CNQ stock?
CANADIAN NATURAL RESOURCES (CNQ) has a profitability rating of 6 / 10.
What are the PE and PB ratios of CANADIAN NATURAL RESOURCES (CNQ) stock?
The Price/Earnings (PE) ratio for CANADIAN NATURAL RESOURCES (CNQ) is 13.73 and the Price/Book (PB) ratio is 2.59.
What is the financial health of CANADIAN NATURAL RESOURCES (CNQ) stock?
The financial health rating of CANADIAN NATURAL RESOURCES (CNQ) is 3 / 10.