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Stock Comparison

CNQ vs CVE vs SU vs IMO vs MEG

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
CNQ
Canadian Natural Resources Limited

Oil & Gas Exploration & Production

EnergyNYSE • CA
Market Cap$93.39B
5Y Perf.+407.0%
CVE
Cenovus Energy Inc.

Oil & Gas Integrated

EnergyNYSE • CA
Market Cap$53.60B
5Y Perf.+538.1%
SU
Suncor Energy Inc.

Oil & Gas Integrated

EnergyNYSE • CA
Market Cap$75.67B
5Y Perf.+304.5%
IMO
Imperial Oil Limited

Oil & Gas Integrated

EnergyAMEX • CA
Market Cap$62.57B
5Y Perf.+705.1%
MEG
Montrose Environmental Group, Inc.

Waste Management

IndustrialsNYSE • US
Market Cap$798M
5Y Perf.-3.2%

CNQ vs CVE vs SU vs IMO vs MEG — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
CNQ logoCNQ
CVE logoCVE
SU logoSU
IMO logoIMO
MEG logoMEG
IndustryOil & Gas Exploration & ProductionOil & Gas IntegratedOil & Gas IntegratedOil & Gas IntegratedWaste Management
Market Cap$93.39B$53.60B$75.67B$62.57B$798M
Revenue (TTM)$41.50B$49.40B$52.01B$47.04B$821M
Net Income (TTM)$10.82B$4.64B$6.33B$3.27B$6M
Gross Margin30.1%19.6%55.5%21.2%39.0%
Operating Margin27.8%14.0%27.4%9.0%2.0%
Forward P/E8.0x7.5x7.7x15.0x172.3x
Total Debt$19.71B$17.00B$18.37B$4.23B$359M
Cash & Equiv.$672M$2.74B$3.65B$1.14B$11M

CNQ vs CVE vs SU vs IMO vs MEGLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

CNQ
CVE
SU
IMO
MEG
StockJul 20May 26Return
Canadian Natural Re… (CNQ)100507.0+407.0%
Cenovus Energy Inc. (CVE)100638.1+538.1%
Suncor Energy Inc. (SU)100404.5+304.5%
Imperial Oil Limited (IMO)100805.1+705.1%
Montrose Environmen… (MEG)10096.8-3.2%

Price return only. Dividends and distributions are not included.

Quick Verdict: CNQ vs CVE vs SU vs IMO vs MEG

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: CNQ and CVE are tied at the top with 3 categories each (5-stock set) — the right choice depends on your priorities. Cenovus Energy Inc. is the stronger pick specifically for valuation and capital efficiency and capital preservation and lower volatility. MEG also leads in specific categories worth noting. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
CNQ
Canadian Natural Resources Limited
The Quality Compounder

CNQ carries the broadest edge in this set and is the clearest fit for quality and dividends.

  • 26.1% margin vs MEG's 0.7%
  • 3.8% yield, 2-year raise streak, vs IMO's 1.6%
  • 12.5% ROA vs MEG's 0.6%, ROIC 10.0% vs 1.3%
Best for: quality and dividends
CVE
Cenovus Energy Inc.
The Income Pick

CVE is the #2 pick in this set and the best alternative if income & stability and sleep-well-at-night is your priority.

  • Dividend streak 0 yrs, beta 0.22, yield 2.0%
  • Lower volatility, beta 0.22, Low D/E 53.8%, current ratio 1.57x
  • Beta 0.22, yield 2.0%, current ratio 1.57x
  • Lower P/E (7.5x vs 15.0x)
Best for: income & stability and sleep-well-at-night
SU
Suncor Energy Inc.
The Income Angle

SU lags the leaders in this set but could rank higher in a more targeted comparison.

Best for: energy exposure
IMO
Imperial Oil Limited
The Long-Run Compounder

IMO is the clearest fit if your priority is long-term compounding.

  • 337.2% 10Y total return vs CNQ's 302.8%
Best for: long-term compounding
MEG
Montrose Environmental Group, Inc.
The Growth Play

MEG ranks third and is worth considering specifically for growth exposure.

  • Rev growth 19.3%, EPS growth 93.7%, 3Y rev CAGR 15.1%
  • 19.3% revenue growth vs CVE's -14.0%
Best for: growth exposure
See the full category breakdown
CategoryWinnerWhy
GrowthMEG logoMEG19.3% revenue growth vs CVE's -14.0%
ValueCVE logoCVELower P/E (7.5x vs 15.0x)
Quality / MarginsCNQ logoCNQ26.1% margin vs MEG's 0.7%
Stability / SafetyCVE logoCVEBeta 0.22 vs MEG's 1.82, lower leverage
DividendsCNQ logoCNQ3.8% yield, 2-year raise streak, vs IMO's 1.6%
Momentum (1Y)CVE logoCVE+147.0% vs MEG's +46.6%
Efficiency (ROA)CNQ logoCNQ12.5% ROA vs MEG's 0.6%, ROIC 10.0% vs 1.3%

CNQ vs CVE vs SU vs IMO vs MEG — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

CNQCanadian Natural Resources Limited
FY 2025
Oil And Gas1
100.0%$30.0B
CVECenovus Energy Inc.
FY 2020
Upstream
100.0%$58M
SUSuncor Energy Inc.

Segment breakdown not available.

IMOImperial Oil Limited
FY 2025
Downstream
75.0%$52.1B
Upstream
23.0%$15.9B
Chemical
2.0%$1.4B
MEGMontrose Environmental Group, Inc.
FY 2025
Assessment Permitting And Response
37.0%$307M
Remediation And Reuse
33.4%$277M
Measurement And Analysis
29.6%$246M

CNQ vs CVE vs SU vs IMO vs MEG — Financial Metrics

Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLCNQLAGGINGSU

Income & Cash Flow (Last 12 Months)

CNQ leads this category, winning 4 of 6 comparable metrics.

SU is the larger business by revenue, generating $52.0B annually — 63.3x MEG's $821M. CNQ is the more profitable business, keeping 26.1% of every revenue dollar as net income compared to MEG's 0.7%. On growth, SU holds the edge at +25.1% YoY revenue growth, suggesting stronger near-term business momentum.

MetricCNQ logoCNQCanadian Natural …CVE logoCVECenovus Energy In…SU logoSUSuncor Energy Inc.IMO logoIMOImperial Oil Limi…MEG logoMEGMontrose Environm…
RevenueTrailing 12 months$41.5B$49.4B$52.0B$47.0B$821M
EBITDAEarnings before interest/tax$21.1B$12.4B$21.7B$6.8B$67M
Net IncomeAfter-tax profit$10.8B$4.6B$6.3B$3.3B$6M
Free Cash FlowCash after capex$8.3B$4.4B$7.2B$4.7B$72M
Gross MarginGross profit ÷ Revenue+30.1%+19.6%+55.5%+21.2%+39.0%
Operating MarginEBIT ÷ Revenue+27.8%+14.0%+27.4%+9.0%+2.0%
Net MarginNet income ÷ Revenue+26.1%+9.4%+12.2%+6.9%+0.7%
FCF MarginFCF ÷ Revenue+20.0%+8.8%+13.9%+10.0%+8.7%
Rev. Growth (YoY)Latest quarter vs prior year-13.2%-12.8%+25.1%+6.7%-5.2%
EPS Growth (YoY)Latest quarter vs prior year+3.7%+78.7%+30.1%-57.8%+45.3%
CNQ leads this category, winning 4 of 6 comparable metrics.

Valuation Metrics

MEG leads this category, winning 4 of 6 comparable metrics.

At 11.8x trailing earnings, CNQ trades at a 55% valuation discount to IMO's 26.5x P/E. On an enterprise value basis, SU's 5.1x EV/EBITDA is more attractive than MEG's 18.0x.

MetricCNQ logoCNQCanadian Natural …CVE logoCVECenovus Energy In…SU logoSUSuncor Energy Inc.IMO logoIMOImperial Oil Limi…MEG logoMEGMontrose Environm…
Market CapShares × price$93.4B$53.6B$75.7B$62.6B$798M
Enterprise ValueMkt cap + debt − cash$107.3B$64.1B$86.5B$64.8B$1.1B
Trailing P/EPrice ÷ TTM EPS11.84x18.06x17.93x26.50x-157.64x
Forward P/EPrice ÷ next-FY EPS est.8.01x7.47x7.73x14.96x172.29x
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple8.15x8.91x5.13x12.96x18.04x
Price / SalesMarket cap ÷ Revenue3.29x1.47x2.11x1.81x0.96x
Price / BookPrice ÷ Book value/share2.89x2.24x2.35x3.89x1.72x
Price / FCFMarket cap ÷ FCF15.13x21.48x14.92x18.17x8.76x
MEG leads this category, winning 4 of 6 comparable metrics.

Profitability & Efficiency

CNQ leads this category, winning 3 of 9 comparable metrics.

CNQ delivers a 26.0% return on equity — every $100 of shareholder capital generates $26 in annual profit, vs $1 for MEG. IMO carries lower financial leverage with a 0.19x debt-to-equity ratio, signaling a more conservative balance sheet compared to MEG's 0.80x. On the Piotroski fundamental quality scale (0–9), CNQ scores 8/9 vs MEG's 4/9, reflecting strong financial health.

MetricCNQ logoCNQCanadian Natural …CVE logoCVECenovus Energy In…SU logoSUSuncor Energy Inc.IMO logoIMOImperial Oil Limi…MEG logoMEGMontrose Environm…
ROE (TTM)Return on equity+26.0%+15.2%+14.0%+14.7%+1.3%
ROA (TTM)Return on assets+12.5%+7.8%+7.0%+8.1%+0.6%
ROICReturn on invested capital+10.0%+7.9%+20.1%+12.3%+1.3%
ROCEReturn on capital employed+10.3%+8.2%+19.5%+11.9%+1.5%
Piotroski ScoreFundamental quality 0–986654
Debt / EquityFinancial leverage0.44x0.54x0.41x0.19x0.80x
Net DebtTotal debt minus cash$19.0B$14.3B$14.7B$3.1B$348M
Cash & Equiv.Liquid assets$672M$2.7B$3.6B$1.1B$11M
Total DebtShort + long-term debt$19.7B$17.0B$18.4B$4.2B$359M
Interest CoverageEBIT ÷ Interest expense10.52x11.80x11.68x4.67x
CNQ leads this category, winning 3 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

IMO leads this category, winning 4 of 6 comparable metrics.

A $10,000 investment in IMO five years ago would be worth $42,567 today (with dividends reinvested), compared to $3,853 for MEG. Over the past 12 months, CVE leads with a +147.0% total return vs MEG's +46.6%. The 3-year compound annual growth rate (CAGR) favors IMO at 41.1% vs MEG's -10.1% — a key indicator of consistent wealth creation.

MetricCNQ logoCNQCanadian Natural …CVE logoCVECenovus Energy In…SU logoSUSuncor Energy Inc.IMO logoIMOImperial Oil Limi…MEG logoMEGMontrose Environm…
YTD ReturnYear-to-date+31.8%+63.2%+40.8%+42.0%-11.3%
1-Year ReturnPast 12 months+61.7%+147.0%+92.7%+87.1%+46.6%
3-Year ReturnCumulative with dividends+73.2%+85.3%+128.8%+180.9%-27.2%
5-Year ReturnCumulative with dividends+203.8%+286.8%+201.0%+325.7%-61.5%
10-Year ReturnCumulative with dividends+302.8%+118.2%+197.4%+337.2%-1.4%
CAGR (3Y)Annualised 3-year return+20.1%+22.8%+31.8%+41.1%-10.1%
IMO leads this category, winning 4 of 6 comparable metrics.

Risk & Volatility

Evenly matched — SU and IMO each lead in 1 of 2 comparable metrics.

SU is the less volatile stock with a -0.03 beta — it tends to amplify market swings less than MEG's 1.82 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. IMO currently trades 93.7% from its 52-week high vs MEG's 69.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricCNQ logoCNQCanadian Natural …CVE logoCVECenovus Energy In…SU logoSUSuncor Energy Inc.IMO logoIMOImperial Oil Limi…MEG logoMEGMontrose Environm…
Beta (5Y)Sensitivity to S&P 500-0.02x0.22x-0.03x0.25x1.82x
52-Week HighHighest price in past year$51.34$30.84$70.29$134.32$32.00
52-Week LowLowest price in past year$28.27$11.60$33.50$67.50$14.92
% of 52W HighCurrent price vs 52-week peak+87.2%+92.3%+90.7%+93.7%+69.0%
RSI (14)Momentum oscillator 0–10047.463.048.750.746.8
Avg Volume (50D)Average daily shares traded11.4M13.1M4.6M663K332K
Evenly matched — SU and IMO each lead in 1 of 2 comparable metrics.

Analyst Outlook

Evenly matched — CNQ and IMO each lead in 1 of 2 comparable metrics.

Analyst consensus: CNQ as "Buy", CVE as "Hold", SU as "Buy", IMO as "Hold", MEG as "Buy". Consensus price targets imply 123.5% upside for MEG (target: $49) vs -64.2% for IMO (target: $45). For income investors, CNQ offers the higher dividend yield at 3.80% vs MEG's 0.54%.

MetricCNQ logoCNQCanadian Natural …CVE logoCVECenovus Energy In…SU logoSUSuncor Energy Inc.IMO logoIMOImperial Oil Limi…MEG logoMEGMontrose Environm…
Analyst RatingConsensus buy/hold/sellBuyHoldBuyHoldBuy
Price TargetConsensus 12-month target$35.00$27.67$62.00$44.99$49.33
# AnalystsCovering analysts3727312012
Dividend YieldAnnual dividend ÷ price+3.8%+2.0%+2.6%+1.6%+0.5%
Dividend StreakConsecutive years of raises204270
Dividend / ShareAnnual DPS$2.32$0.78$2.30$2.78$0.12
Buyback YieldShare repurchases ÷ mkt cap+1.1%+3.4%+3.0%+3.8%+15.3%
Evenly matched — CNQ and IMO each lead in 1 of 2 comparable metrics.
Key Takeaway

CNQ leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). MEG leads in 1 (Valuation Metrics). 2 tied.

Best OverallCanadian Natural Resources … (CNQ)Leads 2 of 6 categories
Loading custom metrics...

CNQ vs CVE vs SU vs IMO vs MEG: Key Questions Answered

10 questions · data-driven answers · updated daily

01

Is CNQ or CVE or SU or IMO or MEG a better buy right now?

For growth investors, Montrose Environmental Group, Inc.

(MEG) is the stronger pick with 19. 3% revenue growth year-over-year, versus -14. 0% for Cenovus Energy Inc. (CVE). Canadian Natural Resources Limited (CNQ) offers the better valuation at 11. 8x trailing P/E (8. 0x forward), making it the more compelling value choice. Analysts rate Canadian Natural Resources Limited (CNQ) a "Buy" — based on 37 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which has the better valuation — CNQ or CVE or SU or IMO or MEG?

On trailing P/E, Canadian Natural Resources Limited (CNQ) is the cheapest at 11.

8x versus Imperial Oil Limited at 26. 5x. On forward P/E, Cenovus Energy Inc. is actually cheaper at 7. 5x — notably different from the trailing picture, reflecting expected earnings growth.

03

Which is the better long-term investment — CNQ or CVE or SU or IMO or MEG?

Over the past 5 years, Imperial Oil Limited (IMO) delivered a total return of +325.

7%, compared to -61. 5% for Montrose Environmental Group, Inc. (MEG). Over 10 years, the gap is even starker: IMO returned +337. 2% versus MEG's -1. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — CNQ or CVE or SU or IMO or MEG?

By beta (market sensitivity over 5 years), Suncor Energy Inc.

(SU) is the lower-risk stock at -0. 03β versus Montrose Environmental Group, Inc. 's 1. 82β — meaning MEG is approximately -5855% more volatile than SU relative to the S&P 500. On balance sheet safety, Imperial Oil Limited (IMO) carries a lower debt/equity ratio of 19% versus 80% for Montrose Environmental Group, Inc. — giving it more financial flexibility in a downturn.

05

Which is growing faster — CNQ or CVE or SU or IMO or MEG?

By revenue growth (latest reported year), Montrose Environmental Group, Inc.

(MEG) is pulling ahead at 19. 3% versus -14. 0% for Cenovus Energy Inc. (CVE). On earnings-per-share growth, the picture is similar: Montrose Environmental Group, Inc. grew EPS 93. 7% year-over-year, compared to -28. 2% for Imperial Oil Limited. Over a 3-year CAGR, MEG leads at 15. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

06

Which has better profit margins — CNQ or CVE or SU or IMO or MEG?

Canadian Natural Resources Limited (CNQ) is the more profitable company, earning 27.

9% net margin versus -0. 1% for Montrose Environmental Group, Inc. — meaning it keeps 27. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SU leads at 31. 7% versus 1. 5% for MEG. At the gross margin level — before operating expenses — SU leads at 59. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

07

Is CNQ or CVE or SU or IMO or MEG more undervalued right now?

On forward earnings alone, Cenovus Energy Inc.

(CVE) trades at 7. 5x forward P/E versus 172. 3x for Montrose Environmental Group, Inc. — 164. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MEG: 123. 5% to $49. 33.

08

Which pays a better dividend — CNQ or CVE or SU or IMO or MEG?

All stocks in this comparison pay dividends.

Canadian Natural Resources Limited (CNQ) offers the highest yield at 3. 8%, versus 0. 5% for Montrose Environmental Group, Inc. (MEG).

09

Is CNQ or CVE or SU or IMO or MEG better for a retirement portfolio?

For long-horizon retirement investors, Canadian Natural Resources Limited (CNQ) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.

02), 3. 8% yield, +302. 8% 10Y return). Montrose Environmental Group, Inc. (MEG) carries a higher beta of 1. 82 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (CNQ: +302. 8%, MEG: -1. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

10

What are the main differences between CNQ and CVE and SU and IMO and MEG?

These companies operate in different sectors (CNQ (Energy) and CVE (Energy) and SU (Energy) and IMO (Energy) and MEG (Industrials)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: CNQ is a mid-cap deep-value stock; CVE is a mid-cap quality compounder stock; SU is a mid-cap deep-value stock; IMO is a mid-cap quality compounder stock; MEG is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

Find Stocks Like These

Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that outperform all of them.

Stocks Like

CNQ

Dividend Mega-Cap Quality

  • Sector: Energy
  • Market Cap > $100B
  • Net Margin > 15%
  • Dividend Yield > 1.5%
Run This Screen
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CVE

Income & Dividend Stock

  • Sector: Energy
  • Market Cap > $100B
  • Net Margin > 5%
  • Dividend Yield > 0.8%
Run This Screen
Stocks Like

SU

High-Growth Compounder

  • Sector: Energy
  • Market Cap > $100B
  • Revenue Growth > 12%
  • Net Margin > 7%
Run This Screen
Stocks Like

IMO

Income & Dividend Stock

  • Sector: Energy
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 5%
Run This Screen
Stocks Like

MEG

Stable Dividend Mega-Cap

  • Sector: Industrials
  • Market Cap > $100B
  • Gross Margin > 23%
  • Dividend Yield > 0.5%
Run This Screen
Custom Screen

Beat Both

Find stocks that outperform CNQ and CVE and SU and IMO and MEG on the metrics below

Revenue Growth>
%
(CNQ: -13.2% · CVE: -12.8%)
Net Margin>
%
(CNQ: 26.1% · CVE: 9.4%)
P/E Ratio<
x
(CNQ: 11.8x · CVE: 18.1x)

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