Valuation Canadian Natural Resources Limited

Equities

Real-time Estimate TE Other stock markets 15:54:59 2026-03-05 EST			5-day change	1st Jan Change
61.78 ^CAD	+2.56%		+4.07%	+31.96%

12:05pm	Canadian Natural Resources Limited, Q4 2025 Earnings Call, Mar 05, 2026
11:41am	Canadian Natural Resources says LNG Canada project is now processing 1.5 bcf per day, getting closer to full capacity	RE

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	36,129	62,917	83,238	94,051	93,660	125,486	125,486	-
Change	-	74.15%	32.3%	12.99%	-0.42%	33.98%	0%	-
Enterprise Value (EV) ¹	57,093	76,558	93,272	103,448	112,348	142,302	141,639	140,323
Change	-	34.09%	21.83%	10.91%	8.6%	26.66%	-0.47%	-0.93%
P/E ratio	-82.7x	8.27x	7.9x	11.6x	15.6x	9.01x	21.7x	18.5x
PBR	1.12x	1.69x	2.17x	2.34x	2.36x	3.11x	3.13x	3.07x
PEG	-	-0x	0.2x	-0.5x	-0.7x	0.1x	-1.2x	1.1x
Capitalization / Revenue	2.14x	2.09x	1.97x	2.61x	2.63x	2.5x	3.54x	3.47x
EV / Revenue	3.38x	2.55x	2.21x	2.88x	3.15x	3.72x	4x	3.88x
EV / EBITDA	10.3x	4.86x	4.22x	6.13x	6.85x	8.06x	8.53x	7.83x
EV / EBIT	-108x	7.64x	6.32x	9.89x	11.6x	15.9x	16x	13.8x
EV / FCF	24.6x	7.67x	6.36x	9.94x	11.7x	17.8x	20.9x	16.6x
FCF Yield	4.06%	13%	15.7%	10.1%	8.52%	5.63%	4.78%	6.01%
Dividend per Share ²	0.85	1	2.3	1.875	2.132	2.345	2.404	2.473
Rate of return	5.56%	3.74%	6.12%	4.32%	4.81%	3.89%	3.99%	4.1%
EPS ²	-0.185	3.23	4.76	3.735	2.85	5.16	2.776	3.26
Distribution rate	-459%	31%	48.3%	50.2%	74.8%	69.3%	86.6%	75.8%
Net sales ¹	16,893	30,057	42,298	35,968	35,656	38,762	35,422	36,162
EBITDA ¹	5,519	15,750	22,113	16,877	16,408	17,610	16,601	17,917
EBIT ¹	-527	10,026	14,760	10,464	9,727	8,226	8,836	10,159
Net income ¹	-435	7,664	10,937	8,233	6,106	10,820	5,688	6,415
Net Debt ¹	20,964	13,641	10,034	9,397	18,688	16,816	16,152	14,837
Reference price ²	15.30	26.72	37.60	43.40	44.38	60.24	60.24	60.24
Nbr of stocks (in thousands)	2,362,117	2,354,237	2,214,062	2,166,831	2,110,408	2,083,107	2,083,107	-
Announcement Date	3/4/21	3/3/22	3/2/23	2/29/24	3/6/25	3/5/26	-	-

¹CAD in Million²CAD

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
CANADIAN NATURAL RESOURCES LIMITED	17.8x	3.72x	8.06x	3.89%	91.82B
CNOOC LIMITED	8.72x	2.75x	4.42x	5.12%	173B
CONOCOPHILLIPS	24.96x	2.83x	6.94x	2.93%	141B
EOG RESOURCES, INC.	13.67x	3.07x	6.03x	3.2%	68.57B
OCCIDENTAL PETROLEUM CORPORATION	39.84x	3x	6.07x	1.91%	52.87B
DIAMONDBACK ENERGY, INC.	18.29x	4.58x	6.64x	2.35%	49.85B
WOODSIDE ENERGY GROUP LTD	27.13x	4.3x	6.8x	3.04%	41.29B
EQT CORPORATION	12.92x	4.34x	6.28x	1.08%	38.31B
TEXAS PACIFIC LAND CORPORATION	64.9x	-	-	0.45%	36.96B
INPEX CORPORATION	11.86x	2.69x	3.59x	2.73%	28.66B
Average	24.01x	3.48x	6.09x	2.67%	72.25B
Weighted average by Cap.	20.73x	3.26x	6.09x	3.26%