CNQ Stock Analysis: Canadian Natural Resources | NYSE
Oil & Gas E&P | NYSE, USA | Market Cap: 91.542m USD | 12M Return: 50.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 379M
EPS Trend: -87.0%
Qual. Beats: 2
Rev. Trend: 71.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based, large-cap energy company engaged in the full upstream value chain of crude oil, natural gas, and natural gas liquids (NGLs), from acquisition and exploration through production, marketing, and sale. Its operations span three core regions: Western Canada, the UK sector of the North Sea, and Offshore Africa.
The companys product mix is notably diversified across conventional and unconventional resources, including synthetic crude oil (SCO), mining bitumen, light and medium crude oil, NGLs, thermal heavy crude oil, and Pelican Lake heavy crude oil. SCO is produced from oil sands upgrading, a defining feature of Western Canadas heavy oil sector. CNQ also holds midstream assets, including two crude oil pipeline systems and a 50% working interest in an 84-megawatt cogeneration plant at its Primrose operations, where cogeneration typically supplies both steam and electricity for thermal heavy oil extraction.
Founded in 1973 as AEX Minerals Corporation and renamed Canadian Natural Resources Limited in December 1975, the company has been listed on the NYSE since May 1976. It is classified within the GICS Energy sector, specifically the Oil & Gas Exploration & Production sub-industry.
- WCS heavy oil price differentials compress realized revenues
- Oil Sands synthetic crude margins track WTI fluctuations
- Capital returns accelerate with rising buybacks and dividends
| Net Income: 9.71b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -1.74 > 1.0 |
| NWC/Revenue: -0.27% < 20% (prev -3.15%; Δ 2.88% < -1%) |
| CFO/TA 0.19 > 3% & CFO 13.2b > Net Income 9.71b |
| Net Debt (17.7b) to EBITDA (22.4b): 0.79 < 3 |
| Current Ratio: 0.98 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.10b) vs 12m ago -0.61% < -2% |
| Gross Margin: 30.76% > 18% (prev 27.20%; Δ 3.56% > 0.5%) |
| Asset Turnover: 53.45% > 50% (prev 52.82%; Δ 0.63% > 0%) |
| Interest Coverage Ratio: 14.27 > 6 (EBIT TTM 12.8b / Interest Expense TTM 894.8m) |
| A: -0.00 (Total Current Assets 6.73b - Total Current Liabilities 6.84b) / Total Assets 67.6b |
| B: 0.35 (Retained Earnings 23.4b / Total Assets 67.6b) |
| C: 0.17 (EBIT TTM 12.8b / Avg Total Assets 76.2b) |
| D: 0.90 (Book Value of Equity 32.1b / Total Liabilities 35.5b) |
| Altman-Z'' = 3.19 = A |
| DSRI: 1.07 (Receivables 3.77b/3.86b, Revenue 40.7b/44.8b) |
| GMI: 0.88 (GM 27.20% / 30.76%) |
| AQI: 4.38 (AQ_t 0.04 / AQ_t-1 0.01) |
| SGI: 0.91 (Revenue 40.7b / 44.8b) |
| TATA: -0.05 (NI 9.71b - CFO 13.2b) / TA 67.6b) |
| Beneish M = -1.13 (Cap -4..+1) = D |
As of July 21, 2026, the stock is trading at USD 43.95 with a total of 4,776,343 shares traded. Over the past week, the price has changed by +2.09%, over one month by +6.29%, over three months by +2.59% and over the past year by +50.51%.
Current recommended Stop Loss: 42.30 (which is 3.8% or 1.5 ATR below the current price).
Canadian Natural Resources has received a consensus analysts rating of 3.73. Therefore, it is recommended to hold CNQ.
- StrongBuy: 7
- Buy: 4
- Hold: 9
- Sell: 2
- StrongSell: 0
| Analysts Target Price | 46.7 | 6.3% |
Market Cap CAD = 128b (91.5b USD * 1.4014 USD.CAD)
P/E Trailing = 11.7984
P/E Forward = 10.846
P/S = 2.3695
P/B = 2.8606
P/EG = 3.4186
Revenue TTM = 40.7b CAD
EBIT TTM = 12.8b CAD
EBITDA TTM = 22.4b CAD
Long Term Debt = 16.2b CAD (from longTermDebt, last fiscal year)
Short Term Debt = 579.5m CAD (from shortTermDebt, last quarter)
Debt = 18.2b CAD (corrected: LT Debt 16.2b + ST Debt 579.5m) + Leases 1.49b
Net Debt = 17.7b CAD (calculated: Debt 18.2b - CCE 580.9m)
Enterprise Value = 146b CAD (128b + Debt 18.2b - CCE 580.9m)
Interest Coverage Ratio = 14.27 (Ebit TTM 12.8b / Interest Expense TTM 894.8m)
EV/FCF = 23.61x (Enterprise Value 146b / FCF TTM 6.18b)
FCF Yield = 4.24% (FCF TTM 6.18b / Enterprise Value 146b)
FCF Margin = 15.18% (FCF TTM 6.18b / Revenue TTM 40.7b)
Net Margin = 23.84% (Net Income TTM 9.71b / Revenue TTM 40.7b)
Gross Margin = 30.76% ((Revenue TTM 40.7b - Cost of Revenue TTM 28.2b) / Revenue TTM)
Gross Margin QoQ = 32.09% (prev 19.99%)
Tobins Q-Ratio = 2.16 (Enterprise Value 146b / Total Assets 67.6b)
Interest Expense / Debt = 4.91% (Interest Expense 894.8m / Debt 18.2b)
Taxrate = 18.23% (2.16b / 11.9b)
NOPAT = 10.4b (EBIT 12.8b * (1 - 18.23%))
Current Ratio = 0.98 (Total Current Assets 6.73b / Total Current Liabilities 6.84b)
Debt / Equity = 0.57 (Debt 18.2b / totalStockholderEquity, last quarter 32.1b)
Debt / EBITDA = 0.79 (Net Debt 17.7b / EBITDA 22.4b)
Debt / FCF = 2.86 (Net Debt 17.7b / FCF TTM 6.18b)
Total Stockholder Equity = 39.5b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.75% (Net Income 9.71b / Total Assets 67.6b)
RoE = 24.56% (Net Income TTM 9.71b / Total Stockholder Equity 39.5b)
RoCE = 22.92% (EBIT 12.8b / Capital Employed (Equity 39.5b + L.T.Debt 16.2b))
RoIC = 17.19% (NOPAT 10.4b / Invested Capital 60.8b)
WACC = 7.08% (E(128b)/V(147b) * Re(7.52%) + D(18.2b)/V(147b) * Rd(4.91%) * (1-Tc(0.18)))
Discount Rate = 7.52% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -92.32 | Cagr: -2.21%
[DCF] Terminal Value 73.10% ; FCFF base≈7.40b ; Y1≈6.49b ; Y5≈5.25b
[DCF] Fair Price = 31.90 (EV 84.2b - Net Debt 17.7b = Equity 66.5b / Shares 2.09b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -86.99 | EPS CAGR: -16.22% | SUE: 1.72 | # QB: 2
Revenue Correlation: 71.00 | Revenue CAGR: 4.17% | SUE: 0.32 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.98 | Chg30d=+3.46% | Revisions=+25% | Analysts=9
EPS next Quarter (2026-09-30): EPS=1.50 | Chg30d=-1.86% | Revisions=+25% | Analysts=8
EPS current Year (2026-12-31): EPS=5.97 | Chg30d=-0.01% | Revisions=-40% | GrowthEPS=+68.1% | GrowthRev=+17.0%
EPS next Year (2027-12-31): EPS=5.13 | Chg30d=+0.80% | Revisions=+0% | GrowthEPS=-14.0% | GrowthRev=-8.6%
[Analyst] Revisions Ratio: +0% (up=3, down=3)