Canadian Natural Resources (CNQ) valuation against sector peers: P/E 13.1 (sector median 19.3), P/B 3.2, P/S 3.7.

Ratios vs sector

Medians of Energy companies in the same region (stocks and REITs).

Lower P/E, P/B, P/S and EV/EBIT mean cheaper; higher yields, returns and margins mean more for the price. Negative multiples (losses) are left out of the medians.

Metric	CNQ	Sector median	vs median
P/E	13.1	19.3 · n=25	32% below
P/B	3.2	1.9 · n=33	68% above
P/S	3.7	2.0 · n=30	80% above
EV/EBIT	—	20.3 · n=18	—
Free-cash-flow yield	—	5.7% · n=20	—
Dividend yield	4.61%	3.49% · n=58	32% above
Return on equity	25.8%	8.2% · n=45	214% above
Return on invested capital	—	7.5% · n=31	—
Gross margin	—	34.9% · n=13	—
Net debt / EBITDA	—	1.51 · n=28	—

Lower P/E, P/B, P/S and EV/EBIT mean cheaper; higher yields, returns and margins mean more for the price. Negative multiples (losses) are left out of the medians.

Sector peers

The largest companies of the same sector and region.

Instrument	P/E	P/B	EV/EBIT	Free-cash-flow yield	Dividend yield	Smart Score
SH SHELShell plc	15.5	1.6	—	—	3.1%	—/10
TT TTETotalEnergies SE	14.8	1.7	—	—	3.4%	—/10
TT TTETotalEnergies SE	14.7	1.7	—	—	4.4%	—/10
E EENI S.p.A.	65.2	3.2	35.2	3.0%	3.4%	5/10
ENBEnbridge	23.9	2.5	24.5	0.3%	5.8%	1/10
EN ENIEni SpA	32.8	1.6	19.8	5.9%	4.3%	7/10
SUSuncor Energy	19.3	2.5	—	—	2.6%	—/10
IM IMOImperial Oil Limited	13.5	3.4	—	7.7%	2.0%	—/10
CV CVECenovus Energy Inc	18.8	2.3	—	—	1.7%	—/10
CCJCameco Corporation	76.1	6.5	72.2	2.4%	0.2%	3/10

Fiscal-year history

From annual SEC filings; each bar is a fiscal year, labelled by the year it ended.

Filings: U.S. SEC EDGAR · ratios computed by AI-Stock Invest from public filings and end-of-day prices · latest period 31 Dec 2025 · filed 26 Mar 2026

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