CANADIAN NATURAL RESOURCES Ltd
CANADIAN NATURAL RESOURCES Ltd (CNQ) is listed on NYSE and classified in Oil & Gas E&P, part of the Energy sector. It is headquartered in Calgary, Canada and has 10,750 employees. The company is worth $111.16B and trades at 13.3x its earnings of the last twelve months; the median for its sector is 14.7x. Revenue was CA$44.17B in fiscal 2025, up 6.4% from the year before. Net income was CA$10.82B. The share price is within 3% of its 52-week high. It pays a dividend yielding 3.26%, and has raised its annual dividend for 10 years in a row in our records. 7 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $221.88M. In that quarter, 6 of them opened or added to the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Revenue, debt and profit are in CAD, the currency the company reports in — not converted to dollars. Dividends are in dollars.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +169.1% over 5Y.
today you would have $3,228.12▲ +222.8%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 4 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Year-end price | $33.85 | $30.87 | $32.76 | $27.76 | |
| EPS | CA$5.16 | CA$2.85 | CA$3.74 | CA$4.76 | |
| Dividend yield | 4.59% | 2.49% | 5.02% | 4.17% | 6.31% |
| Profit margin | 21.12% | 24.50% | 14.71% | 20.16% | 22.08% |
| ROE | 22.53% | 24.39% | 15.47% |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 0.0% a year plus a 3.3% dividend yield. Growth capped at 25%.
Median P/E of 14.7 among peers in the sector.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Energy, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| EQNREquinor ASA | $46.42 | 12.6x | 5.2x | 3.36% | 21.27% | $109.94B |
| PSXPhillips 66 | $284.63 | 16.6x | 3.6x | 1.87% | 23.45% | $114.12B |
| ENBEnbridge Inc | $48.01 | 25.7x | 2.5x | 5.83% | 9.22% | $107.01B |
| VLOValero Energy Corp | $426.28 |
| 20.67% |
| 28.65% |
This company reports in CAD, and the stock trades in dollars. P/E, P/S, P/B and payout would divide dollars by CAD, so they are not shown; EPS is in CAD. Margin, ROE and dividend yield do not depend on the currency.
Median of the years shown; P/E years above 200x are left out.
Dividend growing 7.2% a year against a 8.7% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
4 methods answered, across 2 families.
Room for errors in the reported numbers.
-9.8% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 17.8x |
| 5.4x |
| 1.13% |
| 27.64% |
| $122.74B |
| BPBP PLC | $50.05 | 24.3x | 8.9x | 4.04% | 8.87% | $128.91B |
| MPCMarathon Petroleum Corp | $459.28 | 16.2x | 6.8x | 0.87% | 42.10% | $128.98B |