Canadian Natural Resources (CNQ)

Energy · Oil & Gas E&P
$47.79 -0.63% on the day Market cap $101.3B 52-week range $29.68 to $52.31 Prices as of Oct 7, 2026

What the price implies

A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.

Canadian Natural Resources's free cash flow isn't comparable to its market value here, so a cash-flow reverse DCF doesn't give a meaningful answer. The Modeling tab works from revenue and margins instead.

Fundamental grade

B

Five factors scored 1 to 9 from CNQ's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.

Valuation7
Profitability8
Growth7
Financial health2

Key numbers

P/E (trailing)11.9x
P/E (forward)12.9x
Price / free cash flow12.0x
EV / EBITDA6.54x
Price / sales2.62x
Price / book2.90x
Revenue growth+8.7%
Operating margin—
Net margin27.9%
Return on equity24.4%
Dividend yield5.0%
Debt / equity1.07x

Results from SEC filings

Fiscal years, from Canadian Natural Resources's 10-K filings. The deep dive has 15+ years, quarters and every line.

Fiscal year20212022202320242025
Revenue$30.1B$42.3B$36.0B$35.7B$38.8B
Net income$7.7B$10.9B$8.2B$6.1B$10.8B
Free cash flow—————
EPS (diluted)$3.23$4.76$3.74$2.85$5.16
Operating margin—————

Where the revenue comes from

Revenue by segments, fiscal 2025.

North America$19.0B50%
Oil Sands Mining and Upgrading$17.4B46%
Midstream and Refining$761M2%
North Sea$337M1%
Offshore Africa$187M0%

Superinvestors who own CNQ

From each investor's latest 13F filing (what a 13F shows). 5 of the investors we track hold it.

InvestorLast quarterValue% of portfolioQuarter
Donald Yacktman
Yacktman Asset Management
Trimmed $650M8.0%Q2 2026
Cliff Asness
AQR Capital Management
Added $222M0.08%Q2 2026
Hersh Cohen
ClearBridge Investments
Added $97M0.08%Q2 2026
Robert Robotti
Robotti & Company
Trimmed $13M2.0%Q2 2026
Lee Ainslie
Maverick Capital
Added $2M0.02%Q2 2026

Insider buying

Open-market purchases by Canadian Natural Resources's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.

No open-market insider purchases of CNQ in the last 12 months. Most insider activity is selling and option exercises, which aren't shown here.

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In the full deep dive

DCF fair value per share
Yearly return (IRR) at today's price
Growth implied by revenue and margins
15+ years of statements and quarters

Questions

Are Canadian Natural Resources insiders buying the stock?

No open-market insider purchases of CNQ in the last 12 months, according to SEC Form 4 filings.

Which superinvestors own Canadian Natural Resources?

5 of the superinvestors Investingly tracks hold CNQ in their latest 13F, including Donald Yacktman, Cliff Asness, Hersh Cohen.

Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.