Canadian Natural Resources exhibits robust cash generation and shareholder returns, with cumulative operating cash flow of $37.7B exceeding net income of $22.9B over ten quarters, but faces commodity price volatility and rising leverage.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue surged 77.9% YoY to $17.2B in 2026Q2 with gross margin expanding to 37.2%, but historical volatility and COGS averaging 74% of revenue suggest commodity-driven swings rather than stable growth.
The company's oil sands assets have a low decline rate, providing stable long-term production.
CNQ's effective capital allocation supports dividends and share buybacks, enhancing shareholder value.
The company generates significant free cash flow, which funds dividends and buybacks.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 5, 2026 | $1.18+12.4% vs $1.05 | $8.7B-0.6% vs $8.8B |
Q3 2026 Aug 6, 2026 | $1.53+7.0% vs $1.43 | $10.4B+11.0% vs $9.4B |
Q2 2026 May 7, 2026 | $0.85+14.9% vs $0.74 | $7.8B+2.6% vs $7.6B |
Q2 2026 Mar 5, 2026 | $0.59+11.3% vs $0.53 | $7.0B-0.4% vs $7.0B |
Canadian Natural Resources NYSE: CNQ plans to increase share repurchases after reaching its net debt target ahead of schedule, while an early completion of maintenance at its Horizon oil sands facility is expected to lift fourth-quarter production.
Canadian Natural accelerates share buybacks after reaching its debt target early, while improved Horizon reliability and strong thermal output boost its Q4 outlook.
Four oil and gas producers just paired earnings with fresh payouts, but one dividend is built to survive $30 oil and another sits on a thin gas price cushion. Which checks are truly safe, and which come with a catch?
Canadian Natural Resources Limited delivered strong Q3 results, driven by high-energy prices and solid production growth. CNQ achieved its net debt target ahead of schedule, enabling a ramp-up in shareholder returns via buybacks and dividends. With a double-digit shareholder yield and a 6.2x EV/EBITDA valuation, CNQ remains attractively priced in the energy sector.
Benchmark CNQ against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Canadian Natural Resources Limited (CNQ)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $48.55 | $101.26B | 13.23 | 23.87% | 24.5% | 25.82% | 3.4% | |
| $27.45 | $50.62B | 17.95 | -13.98% | 12.37% | 21.02% | 2.02% | |
| $68.74 | $81.16B | 19.93 | -3.51% | 16.99% | 23.36% | 2.38% | |
| $124.83 | $61.97B | 27.08 | -8.61% | 10.82% | 23.01% | 1.58% | |
| $16.61 | $600.78M | -118.64 | 19.26% | -1.44% | -2.51% | 0.71% | |
| $60.52 | $16.74B | 12.66 | -4.55% | 12.93% | 11.52% | 1.96% |
Canadian Natural Resources Limited (CNQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Canadian Natural Resources Limited (CNQ) stock FAQ — growth, dividends, profitability & financials explained
Canadian Natural Resources Limited (CNQ) reported $48.28B in revenue over the trailing twelve months. Revenue was $44.17B in fiscal year 2025. That is 6836% more than the $636.8M of fiscal year 1996.
Canadian Natural Resources Limited (CNQ) grew revenue by 23.9% in fiscal year 2025, compared with the prior fiscal year.
Yes. Canadian Natural Resources Limited (CNQ) earned $11.76B in net income over the trailing twelve months (a 24.4% net margin).
Yes. Canadian Natural Resources Limited (CNQ) pays a dividend that yields 3.40% at the current price, a moderate yield.
Canadian Natural Resources Limited (CNQ) had a return on equity (ROE) of 25.8% in fiscal year 2025. That is well above the market's typical 10-15%.
Canadian Natural Resources Limited (CNQ) generated $9.40B in free cash flow over the trailing twelve months.
