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Canadian Natural Resources Limited CNQ

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50.61 USD -2.99 (-5.58%)

Nov 4, 2026, 11:37 AM EST

50.66 Day range 52.82
30.59 52-week range 56.11
YTD
+49.51%
1 year
+61.33%

Financial health

Altman Z-Score

3.41 Safe zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

9 / 9 Strong

Nine pass/fail tests of profitability, leverage and efficiency.

FMP rating

A4 / 5 overall

  • DCF 4
  • Return on Equity 5
  • Return on Assets 5
  • Debt / Equity 3
  • P/E 3
  • P/B 2

Valuation

P/E 9.0×
FY 2016: -225×FY 2017: 22.0×FY 2018: 15.5×FY 2019: 9.2×FY 2020: -85.3×FY 2021: 8.2×FY 2022: 7.8×FY 2023: 11.6×FY 2024: 15.6×FY 2025: 9.0×
FY 2016 5y median 9.0× FY 2025
P/S 2.2×
FY 2016: 4.1×FY 2017: 3.0×FY 2018: 1.8×FY 2019: 2.2×FY 2020: 2.1×FY 2021: 1.9×FY 2022: 1.7×FY 2023: 2.3×FY 2024: 2.7×FY 2025: 2.2×
FY 2016 5y median 2.2× FY 2025
P/B 2.2×
FY 2016: 1.8×FY 2017: 1.7×FY 2018: 1.3×FY 2019: 1.9×FY 2020: 1.4×FY 2021: 1.7×FY 2022: 2.2×FY 2023: 2.4×FY 2024: 2.4×FY 2025: 2.2×
FY 2016 5y median 2.2× FY 2025
P/FCF 11.5×
FY 2016: -131×FY 2017: 20.7×FY 2018: 7.1×FY 2019: 9.6×FY 2020: 16.8×FY 2021: 8.0×FY 2022: 6.0×FY 2023: 12.7×FY 2024: 11.7×FY 2025: 11.5×
FY 2016 5y median 11.5× FY 2025
EV/EBITDA 4.8×
FY 2016: 15.0×FY 2017: 8.2×FY 2018: 6.4×FY 2019: 6.0×FY 2020: 9.0×FY 2021: 4.8×FY 2022: 4.5×FY 2023: 6.1×FY 2024: 7.0×FY 2025: 4.8×
FY 2016 5y median 4.8× FY 2025
EV/Sales 2.6×
FY 2016: 5.7×FY 2017: 4.3×FY 2018: 2.7×FY 2019: 3.0×FY 2020: 3.1×FY 2021: 2.4×FY 2022: 2.0×FY 2023: 2.6×FY 2024: 3.2×FY 2025: 2.6×
FY 2016 5y median 2.6× FY 2025
FCF Yield 8.7%
FY 2016: -0.8%FY 2017: 4.8%FY 2018: 14.1%FY 2019: 10.4%FY 2020: 6.0%FY 2021: 12.5%FY 2022: 16.7%FY 2023: 7.9%FY 2024: 8.5%FY 2025: 8.7%
FY 2016 5y median 8.7% FY 2025

Profitability

Gross Margin 21.3%
FY 2016: -3.9%FY 2017: 16.7%FY 2018: 23.4%FY 2019: 52.0%FY 2020: 0.4%FY 2021: 32.2%FY 2022: 32.8%FY 2023: 28.8%FY 2024: 49.3%FY 2025: 21.3%
FY 2016 5y median 32.2% FY 2025
Operating Margin 18.6%
FY 2016: -11.5%FY 2017: 13.2%FY 2018: 21.8%FY 2019: 49.5%FY 2020: 0.0%FY 2021: 29.0%FY 2022: 29.8%FY 2023: 25.6%FY 2024: 47.1%FY 2025: 18.6%
FY 2016 5y median 29.0% FY 2025
Net Margin 24.5%
FY 2016: -1.8%FY 2017: 13.6%FY 2018: 11.6%FY 2019: 23.7%FY 2020: -2.5%FY 2021: 23.3%FY 2022: 22.1%FY 2023: 20.2%FY 2024: 17.1%FY 2025: 24.5%
FY 2016 5y median 22.1% FY 2025
ROE 24.4%
FY 2016: -0.8%FY 2017: 7.6%FY 2018: 8.1%FY 2019: 20.1%FY 2020: -1.7%FY 2021: 20.7%FY 2022: 28.6%FY 2023: 20.7%FY 2024: 15.5%FY 2025: 24.4%
FY 2016 5y median 20.7% FY 2025
ROIC 8.0%
FY 2016: -0.4%FY 2017: 2.8%FY 2018: 5.2%FY 2019: 17.6%FY 2020: 0.0%FY 2021: 10.4%FY 2022: 17.3%FY 2023: 12.2%FY 2024: 16.2%FY 2025: 8.0%
FY 2016 5y median 12.2% FY 2025
ROA 11.8%
FY 2016: -0.3%FY 2017: 3.2%FY 2018: 3.6%FY 2019: 8.7%FY 2020: -0.7%FY 2021: 10.0%FY 2022: 14.4%FY 2023: 10.8%FY 2024: 7.2%FY 2025: 11.8%
FY 2016 5y median 10.8% FY 2025

Growth (YoY)

Revenue 23.9%
FY 2016: -15.7%FY 2017: 59.2%FY 2018: 26.1%FY 2019: 2.6%FY 2020: -23.5%FY 2021: 87.8%FY 2022: 50.8%FY 2023: -17.6%FY 2024: -12.7%FY 2025: 23.9%
FY 2016 FY 2025
Operating Income -51.0%
FY 2016: -72.4%FY 2017: 282.6%FY 2018: 107.6%FY 2019: 133.7%FY 2020: -100.0%FY 2021: 0.0%FY 2022: 55.2%FY 2023: -29.1%FY 2024: 60.5%FY 2025: -51.0%
FY 2016 FY 2025
EPS (diluted) 81.1%
FY 2016: 67.2%FY 2017: 1173.7%FY 2018: 3.9%FY 2019: 114.2%FY 2020: -107.9%FY 2021: 1900.0%FY 2022: 48.8%FY 2023: -22.4%FY 2024: -23.8%FY 2025: 81.1%
FY 2016 FY 2025
Free Cash Flow 4.1%
FY 2016: -137.8%FY 2017: 830.5%FY 2018: 121.5%FY 2019: -8.1%FY 2020: -58.7%FY 2021: 266.5%FY 2022: 81.0%FY 2023: -47.9%FY 2024: 8.7%FY 2025: 4.1%
FY 2016 FY 2025

Financial Health

Current Ratio 1.0×
FY 2016: 0.9×FY 2017: 0.8×FY 2018: 0.6×FY 2019: 0.7×FY 2020: 0.9×FY 2021: 0.8×FY 2022: 0.8×FY 2023: 1.0×FY 2024: 0.8×FY 2025: 1.0×
FY 2016 5y median 0.8× FY 2025
Quick Ratio 0.6×
FY 2016: 0.7×FY 2017: 0.6×FY 2018: 0.4×FY 2019: 0.5×FY 2020: 0.7×FY 2021: 0.6×FY 2022: 0.6×FY 2023: 0.7×FY 2024: 0.5×FY 2025: 0.6×
FY 2016 5y median 0.6× FY 2025
Debt / Equity 0.4×
FY 2016: 0.6×FY 2017: 0.7×FY 2018: 0.6×FY 2019: 0.7×FY 2020: 0.7×FY 2021: 0.4×FY 2022: 0.3×FY 2023: 0.3×FY 2024: 0.5×FY 2025: 0.4×
FY 2016 5y median 0.4× FY 2025
Net Debt / EBITDA 0.8×
FY 2016: 4.0×FY 2017: 2.4×FY 2018: 2.2×FY 2019: 1.5×FY 2020: 3.0×FY 2021: 0.9×FY 2022: 0.6×FY 2023: 0.6×FY 2024: 1.2×FY 2025: 0.8×
FY 2016 5y median 0.8× FY 2025
Interest Coverage 7.9×
FY 2016: -3.0×FY 2017: 3.2×FY 2018: 6.1×FY 2019: 12.4×FY 2020: 0.0×FY 2021: 12.8×FY 2022: 22.0×FY 2023: 15.1×FY 2024: 25.0×FY 2025: 7.9×
FY 2016 5y median 15.1× FY 2025

Dividends

Dividend Yield 5.0%
FY 2016: 1.6%FY 2017: 2.4%FY 2018: 3.9%FY 2019: 3.5%FY 2020: 5.4%FY 2021: 2.7%FY 2022: 5.8%FY 2023: 4.1%FY 2024: 4.7%FY 2025: 5.0%
FY 2016 5y median 4.7% FY 2025
Payout Ratio 45.0%
FY 2016: -371.6%FY 2017: 52.2%FY 2018: 60.3%FY 2019: 32.2%FY 2020: -448.3%FY 2021: 22.4%FY 2022: 45.0%FY 2023: 47.3%FY 2024: 72.5%FY 2025: 45.0%
FY 2016 5y median 45.0% FY 2025

Annual · latest fiscal year ends 2025-12-31