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Canadian Natural Resources

TOR:CNQ · CA1363851017
Oil, Gas & Consumable FuelsX-Large

360

67
EV / EBIT49
Price / Owner Earnings46
Owner Earnings Yield80
Dividend Yield87
Price/Sales28
EV / Gross Profit26
Price/Book16
Return on Capital47
Cash Return on Capital94
Return on Equity87
EBIT Margin19
Gross Profitability49
Cash Conversion13
Accruals40
Owner Earnings Margin82
Sales growth64
Profit Growth91
Long-Term EPS Growth85
Owner Earnings Growth70
Reinvestment39
Price momentum77
Debt load42
Refinancing63
Debt Payback67
Liquidity60
Analyst ratings30
Opinion Changes61
Price Target Upside29
Market mood57
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Canadian Natural Resources clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryCanada
IndustryOil, Gas & Consumable Fuels
SizeX-Large
TypePublic Company
ExchangeTSX
Founded1973
Employees7,703
Websitecnrl.com
ISINCA1363851017
Last UpdateApr 2, 2026
Indices
TSX Composite (Canada)
Themes
Disposal and RecyclingEnergyOil and Gas

Description

Canadian Natural Resources Limited (‘Canadian Natural’), a Canadian based senior independent energy company, engages in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and NGLs. The company's princ…

Analysis

Middle-of-the-road

Canadian Natural Resources Limited sits in the middle of our grid: average quality, average price, no obvious signal in either direction.

On valuation, the picture is attractive. The owner-earnings multiple stands at 13.5×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 1% a year, against analyst forecasts of 15%. The price, in other words, assumes less than the experts do.

Growth is solid; the safety picture is adequate. The company scores 12/20 on our value-creation score: creating some value.

Flags to be aware of: The financial cushion is thinner than comfortable. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
83
2023202420252026

All-time high

83

Jun 2026

All-time low

24

Jan 2025

Average rank

52

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
28
48
26
26
Price/Earnings
55
41
33
28
Price/Book
16
24
30
59
Dividend Yield
87
80
77
87
Value (overall)
42
50
39
41

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →