Canadian Natural Resources Ltd (CNQ)
Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa. The company offers synthetic crude oil (SCO), mining bitumen, light and medium crude oil and NGLs, thermal bitumen, primary heavy crude oil and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.
- Ticker
- CNQ
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Oil & Gas E&P
- 52-week range
- $30.13 - $56.27
Valuation
- Share price
- $48.55 (close of Nov 6, 2026)
- P/E (TTM)
- 13.27x
- Price to book
- 3.22x
- Price to free cash flow
- 9.45x
Price performance
| Period | Change |
|---|---|
| 1 day | -0.76% |
| 5 days | -13.47% |
| 1 month | +0.94% |
| 3 months | +6.82% |
| 6 months | +6.40% |
| Year to date | +43.43% |
| 1 year | +54.18% |
| 3 years | +46.02% |
| 5 years | +127.51% |
| 10 years | +231.17% |
| All time | +2,782.24% |
Short interest
- As of
- Oct 15, 2026
- Short % of float
- 2.95%
- Shares short
- 59.39M
- Days to cover
- 11.70
- Change since prior report
- -49.30%
- Source
- FINRA consolidated short interest
Members of Congress who disclosed CNQ trades
Super investors holding CNQ
Yacktman Asset Mgmt (Yacktman Asset Management LP) · Ken Griffin (Citadel) · Lee Ainslie (Maverick Capital LTD) · Sarah Ketterer (Causeway Capital Management LLC)
Profitability and growth
- Return on equity
- 24.39%
- Return on invested capital
- 19.45%*
- Return on assets
- 11.78%
- Return on capital employed
- 17.05%*
- Net margin
- 27.91%
- EBITDA margin
- 61.05%
- Revenue growth
- 8.71%
- Net income growth
- 77.20%
- Free cash flow growth
- 12.85%
* Estimated EBIT: pre-tax income + net interest. This company reports no operating income line.
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 10.58%
- Current ratio
- 0.95x
- Net debt to EBITDA
- 0.73x
Latest reported year
- Period end
- Dec 31, 2025
- Fiscal year
- 2025
- Shares outstanding
- 2.09B
Margins and returns by year
| Period end | Net margin | Return on equity | Return on capital |
|---|---|---|---|
| 2025-12-31 | 27.91% | 24.39% | 19.45%* |
| 2024-12-31 | 17.12% | 15.47% | 11.63%* |
| 2023-12-31 | 22.89% | 20.67% | 17.63%* |
| 2022-12-31 | 25.86% | 28.65% | 23.39%* |
| 2021-12-31 | 25.50% | 20.74% | 15.80%* |
| 2020-12-31 | -2.58% | -1.34% | -0.04%* |
| 2019-12-31 | 23.68% | 15.48% | 10.16%* |
| 2018-12-31 | 12.32% | 8.10% | 6.26%* |
| 2017-12-31 | 13.82% | 7.57% | 5.78%* |
| 2016-12-31 | -1.79% | -0.78% | -0.73%* |
* Estimated EBIT: pre-tax income + net interest. This company reports no operating income line.
Investor relations
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-11-05 | Sep 2026 | - |
| 2026-08-06 | Jun 2026 | - |
| 2026-05-07 | Mar 2026 | - |
| 2026-03-05 | Dec 2025 | - |
| 2025-11-06 | Sep 2025 | - |
| 2025-08-07 | Jun 2025 | - |
| 2025-05-08 | Mar 2025 | - |
| 2025-03-06 | Dec 2024 | - |
Filings and sources
- Company website
- cnrl.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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