Overview Dividends

(CNQ) Canadian Natural Resources - Ratings and Ratios

Exchange: NYSE • Country: Canada • Currency: USD • Type: Common Stock • ISIN: CA1363851017

Crude Oil, Natural Gas, Natural Gas Liquids

Oil & Gas Exploration & Production
Market Cap in USD: 68,728m

IPO / Inception: 1976-05-17
Return 12m vs S&P 500: -3.83%

EPS (Earnings per Share)

EPS CAGR: -22.25%
EPS Trend: -84.5%

Last SUE: 0.69
Qual. Beats: 0

Revenue

Rev. CAGR: -1.81%
Rev. Trend: -18.7%

Last SUE: 0.02
Qual. Beats: 0

Dividends

Dividend Yield	5.14%
Yield on Cost 5y	18.85%
Yield CAGR 5y	11.27%
Payout Consistency	89.9%
Payout Ratio	46.0%

Risk via 5d forecast
Volatility	26.6%
Value at Risk 5%th	45.3%
Relative Tail Risk	3.50%

Reward TTM
Sharpe Ratio	0.46
Alpha	0.39
CAGR/Max DD	0.31

Character TTM
Hurst Exponent	0.412
Beta	0.794
Beta Downside	0.904

Drawdowns 3y
Max DD	35.85%
Mean DD	11.91%
Median DD	11.63%

Description: CNQ Canadian Natural Resources December 02, 2025

Canadian Natural Resources Limited (CNQ) is an integrated upstream and midstream oil and gas producer operating primarily in Western Canada, the North Sea’s United Kingdom sector, and offshore Africa. The firm extracts and markets a range of hydrocarbons-including light, medium, and heavy crude, as well as bitumen and synthetic crude-and owns two crude-oil pipelines plus a 50 % stake in an 84 MW cogeneration plant at Primrose.

In 2023 the company generated roughly 1.2 million barrels of oil-equivalent per day (boe/d) of production, with natural gas accounting for about 30 % of total output, reflecting its diversified commodity mix. Capital spending was directed toward expanding the Fort Hills oil sands project and enhancing the North Sea offshore portfolio, positioning CNQ to benefit from higher oil prices while managing exposure to volatile gas markets. A key sector driver remains the global shift toward lower-carbon energy, prompting CNQ to invest in carbon capture and utilization (CCU) pilots that could offset future regulatory costs.

For a deeper, data-driven assessment of CNQ’s valuation metrics and scenario analysis, you may find ValueRay’s platform worth exploring.

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (6.66b TTM) > 0 and > 6% of Revenue (6% = 2.58b TTM)

FCFTA 0.10 (>2.0%) and ΔFCFTA -3.52pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -2.63% (prev -3.05%; Δ 0.41pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.17 (>3.0%) and CFO 14.77b > Net Income 6.66b (YES >=105%, WARN >=100%)

Net Debt (17.16b) to EBITDA (17.63b) ratio: 0.97 <= 3.0 (WARN <= 3.5)

Current Ratio 0.86 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (2.07b) change vs 12m ago -3.00% (target <= -2.0% for YES)

Gross Margin 31.02% (prev 27.05%; Δ 3.97pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 53.48% (prev 54.77%; Δ -1.29pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 10.83 (EBITDA TTM 17.63b / Interest Expense TTM 812.0m) >= 6 (WARN >= 3)

Altman Z'' 2.69

(A) -0.01 = (Total Current Assets 7.18b - Total Current Liabilities 8.31b) / Total Assets 85.59b

(B) 0.34 = Retained Earnings (Balance) 28.91b / Total Assets 85.59b

(D) 0.90 = Book Value of Equity 40.46b / Total Liabilities 45.13b

Total Rating: 2.69 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 71.85

1. Piotroski 6.0pt

2. FCF Yield 7.32%

3. FCF Margin 18.93%

4. Debt/Equity 0.43

5. Debt/Ebitda 0.97

6. ROIC - WACC (= 11.00)%

7. RoE 16.47%

8. Rev. Trend -18.70%

9. EPS Trend -84.55%

What is the price of CNQ shares?

As of December 29, 2025, the stock is trading at USD 32.79 with a total of 2,116,450 shares traded.
Over the past week, the price has changed by +1.42%, over one month by -1.67%, over three months by +2.78% and over the past year by +14.19%.

Is CNQ a buy, sell or hold?

Canadian Natural Resources has received a consensus analysts rating of 4.05. Therefore, it is recommended to buy CNQ.

Strong Buy: 8
Buy: 6
Hold: 7
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the CNQ price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	37.1	13.2%
Analysts Target Price	37.1	13.2%
ValueRay Target Price	37.9	15.6%

CNQ Fundamental Data Overview December 27, 2025

Market Cap CAD = 93.92b (68.73b USD * 1.3665 USD.CAD)
P/E Trailing = 14.2727
P/E Forward = 16.3666
P/S = 1.7795
P/B = 2.3233
P/EG = 12.75
Beta = 1.087
Revenue TTM = 42.97b CAD
EBIT TTM = 8.79b CAD
EBITDA TTM = 17.63b CAD
Long Term Debt = 16.44b CAD (from longTermDebt, last quarter)
Short Term Debt = 829.0m CAD (from shortTermDebt, last quarter)
Debt = 17.27b CAD (from shortLongTermDebtTotal, last quarter)
Net Debt = 17.16b CAD (from netDebt column, last quarter)
Enterprise Value = 111.07b CAD (93.92b + Debt 17.27b - CCE 113.0m)
Interest Coverage Ratio = 10.83 (Ebit TTM 8.79b / Interest Expense TTM 812.0m)
FCF Yield = 7.32% (FCF TTM 8.13b / Enterprise Value 111.07b)
FCF Margin = 18.93% (FCF TTM 8.13b / Revenue TTM 42.97b)
Net Margin = 15.49% (Net Income TTM 6.66b / Revenue TTM 42.97b)
Gross Margin = 31.02% ((Revenue TTM 42.97b - Cost of Revenue TTM 29.64b) / Revenue TTM)
Gross Margin QoQ = 48.39% (prev 23.87%)
Tobins Q-Ratio = 1.30 (Enterprise Value 111.07b / Total Assets 85.59b)
Interest Expense / Debt = 0.54% (Interest Expense 93.0m / Debt 17.27b)
Taxrate = -23.20% (negative due to tax credits) (-113.0m / 487.0m)
NOPAT = 10.83b (EBIT 8.79b * (1 - -23.20%)) [negative tax rate / tax credits]
Current Ratio = 0.86 (Total Current Assets 7.18b / Total Current Liabilities 8.31b)
Debt / Equity = 0.43 (Debt 17.27b / totalStockholderEquity, last quarter 40.46b)
Debt / EBITDA = 0.97 (Net Debt 17.16b / EBITDA 17.63b)
Debt / FCF = 2.11 (Net Debt 17.16b / FCF TTM 8.13b)
Total Stockholder Equity = 40.42b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.78% (Net Income 6.66b / Total Assets 85.59b)
RoE = 16.47% (Net Income TTM 6.66b / Total Stockholder Equity 40.42b)
RoCE = 15.46% (EBIT 8.79b / Capital Employed (Equity 40.42b + L.T.Debt 16.44b))
RoIC = 18.65% (NOPAT 10.83b / Invested Capital 58.07b)
WACC = 7.65% (E(93.92b)/V(111.18b) * Re(8.94%) + D(17.27b)/V(111.18b) * Rd(0.54%) * (1-Tc(-0.23)))
Discount Rate = 8.94% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.57%
[DCF Debug] Terminal Value 74.96% ; FCFE base≈8.79b ; Y1≈8.73b ; Y5≈9.13b
Fair Price DCF = 66.06 (DCF Value 137.60b / Shares Outstanding 2.08b; 5y FCF grow -1.45% → 3.0% )
EPS Correlation: -84.55 | EPS CAGR: -22.25% | SUE: 0.69 | # QB: 0
Revenue Correlation: -18.70 | Revenue CAGR: -1.81% | SUE: 0.02 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.85 | Chg30d=-0.003 | Revisions Net=-2 | Analysts=7
EPS next Year (2026-12-31): EPS=3.18 | Chg30d=-0.103 | Revisions Net=+0 | Growth EPS=-5.5% | Growth Revenue=-4.9%

Additional Sources for CNQ Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle