CANADIAN NATURAL RESOURCES (CNQ) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:CNQ • CA1363851017

38.995 USD
-0.18 (-0.45%)
Last: Feb 10, 2026, 10:17 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

Taking everything into account, CNQ scores 4 out of 10 in our fundamental rating. CNQ was compared to 206 industry peers in the Oil, Gas & Consumable Fuels industry. While CNQ is still in line with the averages on profitability rating, there are concerns on its financial health. CNQ is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • CNQ had positive earnings in the past year.
  • CNQ had a positive operating cash flow in the past year.
  • Of the past 5 years CNQ 4 years were profitable.
  • In the past 5 years CNQ always reported a positive cash flow from operatings.
CNQ Yearly Net Income VS EBIT VS OCF VS FCFCNQ 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 better Return On Assets (7.78%) than 80.10% 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 81.07% of the companies in the same industry.
  • The Return On Invested Capital of CNQ (10.43%) is better than 85.44% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for CNQ is significantly below the industry average of 22.01%.
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 Yearly ROA, ROE, ROICCNQ Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20

1.3 Margins

  • With a decent Profit Margin value of 17.23%, CNQ is doing good in the industry, outperforming 70.39% of the companies in the same industry.
  • In the last couple of years the Profit Margin of CNQ has declined.
  • The Operating Margin of CNQ (26.62%) is better than 67.96% of its industry peers.
  • CNQ's Operating Margin has improved in the last couple of years.
  • CNQ has a Gross Margin (48.85%) which is comparable to the rest of the industry.
  • 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 Yearly Profit, Operating, Gross MarginsCNQ Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

3

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.
  • Compared to 5 years ago, CNQ has less shares outstanding
  • Compared to 1 year ago, CNQ has a worse debt to assets ratio.
CNQ Yearly Shares OutstandingCNQ Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
CNQ Yearly Total Debt VS Total AssetsCNQ 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

  • CNQ has an Altman-Z score of 2.78. 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 (2.78) than 77.18% 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 of 0.44. This is comparable to the rest of the industry: CNQ outperforms 53.40% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF N/A
Altman-Z 2.78
ROIC/WACC1.46
WACC7.16%
CNQ Yearly LT Debt VS Equity VS FCFCNQ 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.
  • With a Current ratio value of 0.86, CNQ is not doing good in the industry: 64.08% 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.
  • Looking at the Quick ratio, with a value of 0.53, CNQ is doing worse than 80.10% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.86
Quick Ratio 0.53
CNQ Yearly Current Assets VS Current LiabilitesCNQ Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The earnings per share for CNQ have decreased by -1.21% in the last year.
  • 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.
  • 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

  • CNQ is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 0.19% yearly.
  • CNQ is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.12% yearly.
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

  • The EPS growth rate is decreasing: in the next years the growth will be less 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.
CNQ Yearly Revenue VS EstimatesCNQ 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 Yearly EPS VS EstimatesCNQ 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

More info and screens

Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • CNQ is valuated correctly with a Price/Earnings ratio of 14.50.
  • 64.08% of the companies in the same industry are more expensive than CNQ, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 28.06. CNQ is valued slightly cheaper when compared to this.
  • With a Price/Forward Earnings ratio of 17.57, CNQ is valued on the expensive side.
  • The rest of the industry has a similar Price/Forward Earnings ratio as CNQ.
  • The average S&P500 Price/Forward Earnings ratio is at 27.86. CNQ is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 14.5
Fwd PE 17.57
CNQ Price Earnings VS Forward Price EarningsCNQ Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, CNQ is valued a bit cheaper than the industry average as 66.50% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 6.81
CNQ Per share dataCNQ EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

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)0.86
EPS Next 2Y-6.65%
EPS Next 3Y2.84%

More info and screens

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

6

5. Dividend

5.1 Amount

  • CNQ has a Yearly Dividend Yield of 4.53%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.64, 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 1.80.
Industry RankSector Rank
Dividend Yield 4.53%

5.2 History

  • The dividend of CNQ is nicely growing with an annual growth rate of 23.37%!
  • 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
CNQ Yearly Dividends per shareCNQ 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 2Y-6.65%
EPS Next 3Y2.84%
CNQ Yearly Income VS Free CF VS DividendCNQ 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 Dividend Payout.CNQ Dividend Payout, showing the Payout Ratio.CNQ Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

CANADIAN NATURAL RESOURCES

NYSE:CNQ (2/10/2026, 10:17:02 AM)

38.995

-0.18 (-0.45%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)11-06
Earnings (Next)02-26
Inst Owners75.5%
Inst Owner Change-0.29%
Ins Owners2.22%
Ins Owner ChangeN/A
Market Cap81.24B
Revenue(TTM)38.62B
Net Income(TTM)6.66B
Analysts73.6
Price Target39.2 (0.53%)
Short Float %0.83%
Short Ratio1.99
Dividend
Industry RankSector Rank
Dividend Yield 4.53%
Yearly Dividend1.53
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)0.2%
PT rev (3m)1.16%
EPS NQ rev (1m)0.2%
EPS NQ rev (3m)-10.65%
EPS NY rev (1m)-0.72%
EPS NY rev (3m)-5.19%
Revenue NQ rev (1m)-0.33%
Revenue NQ rev (3m)-1%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.86%
Valuation
Industry RankSector Rank
PE 14.5
Fwd PE 17.57
P/S 2.86
P/FCF N/A
P/OCF 7.48
P/B 2.73
P/tB 2.73
EV/EBITDA 6.81
EPS(TTM)2.69
EY6.9%
EPS(NY)2.22
Fwd EY5.69%
FCF(TTM)-0.37
FCFYN/A
OCF(TTM)5.21
OCFY13.36%
SpS13.62
BVpS14.27
TBVpS14.27
PEG (NY)N/A
PEG (5Y)0.86
Graham Number29.39
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 2.78
F-Score5
WACC7.16%
ROIC/WACC1.46
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-2.36%
EPS Next 2Y-6.65%
EPS Next 3Y2.84%
EPS Next 5Y0.19%
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 5Y1.12%
EBIT growth 1Y3.24%
EBIT growth 3Y0.75%
EBIT growth 5Y11.71%
EBIT Next Year109.23%
EBIT Next 3Y29.54%
EBIT Next 5Y16.5%
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 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 3 / 10 to CANADIAN NATURAL RESOURCES (CNQ). This can be considered as Overvalued.


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 14.5 and the Price/Book (PB) ratio is 2.73.


What is the financial health of CANADIAN NATURAL RESOURCES (CNQ) stock?

The financial health rating of CANADIAN NATURAL RESOURCES (CNQ) is 3 / 10.