GFR
Greenfire Resources Ltd.
Oil & Gas Exploration & Production
Market Cap$410M
5Y Perf.+14.3%
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Stock Comparison
GFR vs CNQ
Revenue, margins, valuation, and 5-year total return — side by side.
CNQ
Canadian Natural Resources Limited
Oil & Gas Exploration & Production
Market Cap$93.39B
5Y Perf.+38.4%
GFR vs CNQ — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | GFR | CNQ |
|---|---|---|
| Industry | Oil & Gas Exploration & Production | Oil & Gas Exploration & Production |
| Market Cap | $410M | $93.39B |
| Revenue (TTM) | $563M | $41.50B |
| Net Income (TTM) | $-101M | $10.82B |
| Gross Margin | 22.7% | 30.1% |
| Operating Margin | 10.7% | 27.8% |
| Forward P/E | 16.6x | 8.0x |
| Total Debt | $6M | $19.71B |
| Cash & Equiv. | $42M | $672M |
GFR vs CNQ — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
GFR
CNQ
| Stock | Sep 23 | May 26 | Return |
|---|---|---|---|
| Greenfire Resources… (GFR) | 100 | 114.3 | +14.3% |
| Canadian Natural Re… (CNQ) | 100 | 138.4 | +38.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: GFR vs CNQ
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: CNQ leads in 6 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Greenfire Resources Ltd. is the stronger pick specifically for capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
GFR
Greenfire Resources Ltd.
The Defensive Pick
GFR is the clearest fit if your priority is sleep-well-at-night and defensive.
- Lower volatility, beta 0.05, Low D/E 0.5%, current ratio 1.56x
- Beta 0.05, current ratio 1.56x
- Lower D/E ratio (0.5% vs 44.5%)
Best for: sleep-well-at-night and defensive
CNQ
Canadian Natural Resources Limited
The Income Pick
CNQ carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 2 yrs, beta -0.02, yield 3.8%
- Rev growth 8.6%, EPS growth 81.1%, 3Y rev CAGR -7.9%
- 302.8% 10Y total return vs GFR's -47.5%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | CNQ | 8.6% revenue growth vs GFR's -27.4% |
| Value | CNQ | Lower P/E (8.0x vs 16.6x) |
| Quality / Margins | CNQ | 26.1% margin vs GFR's -17.9% |
| Stability / Safety | GFR | Lower D/E ratio (0.5% vs 44.5%) |
| Dividends | CNQ | 3.8% yield; 2-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | CNQ | +61.7% vs GFR's +43.7% |
| Efficiency (ROA) | CNQ | 12.5% ROA vs GFR's -7.8%, ROIC 10.0% vs 3.9% |
GFR vs CNQ — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2025
GFR vs CNQ — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLCNQLAGGINGGFR
GFRGreenfire Resources L…
0leads
CNQCanadian Natural Reso…
6leads
6 Total Categories
CATEGORYLEADERvs GFRMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
CNQ6/6
Valuation MetricsMultiples, price ratios, and targets
CNQ4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
CNQ6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
CNQ6/6
Risk & VolatilityBeta, volatility, and downside exposure
CNQ2/2
Analyst OutlookRatings, price targets, and dividends
CNQ1/1
Income & Cash Flow (Last 12 Months)
CNQ leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
CNQ is the larger business by revenue, generating $41.5B annually — 73.7x GFR's $563M. CNQ is the more profitable business, keeping 26.1% of every revenue dollar as net income compared to GFR's -17.9%. On growth, CNQ holds the edge at -13.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | GFRGreenfire Resourc… | CNQCanadian Natural … |
|---|---|---|
| RevenueTrailing 12 months | $563M | $41.5B |
| EBITDAEarnings before interest/tax | $144M | $21.1B |
| Net IncomeAfter-tax profit | -$101M | $10.8B |
| Free Cash FlowCash after capex | -$26M | $8.3B |
| Gross MarginGross profit ÷ Revenue | +22.7% | +30.1% |
| Operating MarginEBIT ÷ Revenue | +10.7% | +27.8% |
| Net MarginNet income ÷ Revenue | -17.9% | +26.1% |
| FCF MarginFCF ÷ Revenue | -4.6% | +20.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | -20.8% | -13.2% |
| EPS Growth (YoY)Latest quarter vs prior year | -3.6% | +3.7% |
CNQ leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
CNQ leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 11.8x trailing earnings, CNQ trades at a 2% valuation discount to GFR's 12.1x P/E. On an enterprise value basis, CNQ's 8.1x EV/EBITDA is more attractive than GFR's 9.0x.
| Metric | GFRGreenfire Resourc… | CNQCanadian Natural … |
|---|---|---|
| Market CapShares × price | $410M | $93.4B |
| Enterprise ValueMkt cap + debt − cash | $383M | $107.3B |
| Trailing P/EPrice ÷ TTM EPS | 12.07x | 11.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 16.65x | 8.01x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 8.99x | 8.15x |
| Price / SalesMarket cap ÷ Revenue | 0.97x | 3.29x |
| Price / BookPrice ÷ Book value/share | 0.48x | 2.89x |
| Price / FCFMarket cap ÷ FCF | 23.05x | 15.13x |
CNQ leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
CNQ leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
CNQ delivers a 26.0% return on equity — every $100 of shareholder capital generates $26 in annual profit, vs $-10 for GFR. GFR carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to CNQ's 0.44x. On the Piotroski fundamental quality scale (0–9), CNQ scores 8/9 vs GFR's 5/9, reflecting strong financial health.
| Metric | GFRGreenfire Resourc… | CNQCanadian Natural … |
|---|---|---|
| ROE (TTM)Return on equity | -10.0% | +26.0% |
| ROA (TTM)Return on assets | -7.8% | +12.5% |
| ROICReturn on invested capital | +3.9% | +10.0% |
| ROCEReturn on capital employed | +5.5% | +10.3% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 8 |
| Debt / EquityFinancial leverage | 0.01x | 0.44x |
| Net DebtTotal debt minus cash | -$36M | $19.0B |
| Cash & Equiv.Liquid assets | $42M | $672M |
| Total DebtShort + long-term debt | $6M | $19.7B |
| Interest CoverageEBIT ÷ Interest expense | 0.48x | 10.52x |
CNQ leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
CNQ leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CNQ five years ago would be worth $30,375 today (with dividends reinvested), compared to $5,246 for GFR. Over the past 12 months, CNQ leads with a +61.7% total return vs GFR's +43.7%. The 3-year compound annual growth rate (CAGR) favors CNQ at 20.1% vs GFR's -19.4% — a key indicator of consistent wealth creation.
| Metric | GFRGreenfire Resourc… | CNQCanadian Natural … |
|---|---|---|
| YTD ReturnYear-to-date | +17.7% | +31.8% |
| 1-Year ReturnPast 12 months | +43.7% | +61.7% |
| 3-Year ReturnCumulative with dividends | -47.5% | +73.2% |
| 5-Year ReturnCumulative with dividends | -47.5% | +203.8% |
| 10-Year ReturnCumulative with dividends | -47.5% | +302.8% |
| CAGR (3Y)Annualised 3-year return | -19.4% | +20.1% |
CNQ leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
CNQ leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
CNQ is the less volatile stock with a -0.02 beta — it tends to amplify market swings less than GFR's 0.05 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CNQ currently trades 87.2% from its 52-week high vs GFR's 80.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | GFRGreenfire Resourc… | CNQCanadian Natural … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.05x | -0.02x |
| 52-Week HighHighest price in past year | $7.06 | $51.34 |
| 52-Week LowLowest price in past year | $3.81 | $28.27 |
| % of 52W HighCurrent price vs 52-week peak | +80.2% | +87.2% |
| RSI (14)Momentum oscillator 0–100 | 42.6 | 47.4 |
| Avg Volume (50D)Average daily shares traded | 239K | 11.4M |
CNQ leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
CNQ leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates GFR as "Buy" and CNQ as "Buy". CNQ is the only dividend payer here at 3.80% yield — a key consideration for income-focused portfolios.
| Metric | GFRGreenfire Resourc… | CNQCanadian Natural … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | — | $35.00 |
| # AnalystsCovering analysts | 1 | 37 |
| Dividend YieldAnnual dividend ÷ price | — | +3.8% |
| Dividend StreakConsecutive years of raises | 1 | 2 |
| Dividend / ShareAnnual DPS | — | $2.32 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.1% |
CNQ leads this category, winning 1 of 1 comparable metric.
Key Takeaway
CNQ leads in 6 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics.
Best OverallCanadian Natural Resources … (CNQ)Leads 6 of 6 categories
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GFR vs CNQ: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is GFR or CNQ a better buy right now?
For growth investors, Canadian Natural Resources Limited (CNQ) is the stronger pick with 8.
6% revenue growth year-over-year, versus -27. 4% for Greenfire Resources Ltd. (GFR). 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 Greenfire Resources Ltd. (GFR) a "Buy" — based on 1 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.
02Which has the better valuation — GFR or CNQ?
On trailing P/E, Canadian Natural Resources Limited (CNQ) is the cheapest at 11.
8x versus Greenfire Resources Ltd. at 12. 1x. On forward P/E, Canadian Natural Resources Limited is actually cheaper at 8. 0x.
03Which is the better long-term investment — GFR or CNQ?
Over the past 5 years, Canadian Natural Resources Limited (CNQ) delivered a total return of +203.
8%, compared to -47. 5% for Greenfire Resources Ltd. (GFR). Over 10 years, the gap is even starker: CNQ returned +302. 8% versus GFR's -47. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — GFR or CNQ?
By beta (market sensitivity over 5 years), Canadian Natural Resources Limited (CNQ) is the lower-risk stock at -0.
02β versus Greenfire Resources Ltd. 's 0. 05β — meaning GFR is approximately -333% more volatile than CNQ relative to the S&P 500. On balance sheet safety, Greenfire Resources Ltd. (GFR) carries a lower debt/equity ratio of 1% versus 44% for Canadian Natural Resources Limited — giving it more financial flexibility in a downturn.
05Which is growing faster — GFR or CNQ?
By revenue growth (latest reported year), Canadian Natural Resources Limited (CNQ) is pulling ahead at 8.
6% versus -27. 4% for Greenfire Resources Ltd. (GFR). On earnings-per-share growth, the picture is similar: Canadian Natural Resources Limited grew EPS 81. 1% year-over-year, compared to -62. 4% for Greenfire Resources Ltd.. Over a 3-year CAGR, CNQ leads at -7. 9% 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.
06Which has better profit margins — GFR or CNQ?
Canadian Natural Resources Limited (CNQ) is the more profitable company, earning 27.
9% net margin versus 8. 1% for Greenfire Resources Ltd. — meaning it keeps 27. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CNQ leads at 21. 2% versus 10. 1% for GFR. At the gross margin level — before operating expenses — CNQ leads at 23. 3%, 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.
07Is GFR or CNQ more undervalued right now?
On forward earnings alone, Canadian Natural Resources Limited (CNQ) trades at 8.
0x forward P/E versus 16. 6x for Greenfire Resources Ltd. — 8. 6x cheaper on a one-year earnings basis.
08Which pays a better dividend — GFR or CNQ?
In this comparison, CNQ (3.
8% yield) pays a dividend. GFR does not pay a meaningful dividend and should not be held primarily for income.
09Is GFR or CNQ 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). Both have compounded well over 10 years (CNQ: +302. 8%, GFR: -47. 5%), 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.
10What are the main differences between GFR and CNQ?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
CNQ pays a dividend while GFR does not, making them suitable for different income and tax situations. 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.
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(GFR: -20.8% · CNQ: -13.2%)P/E Ratio<
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