Which has the lower trailing P/E, CNQ or SHEL?

SHEL has the lower trailing P/E: CNQ trades at 11.70 and SHEL at 10.50. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, CNQ or SHEL?

Over the past five years, CNQ grew revenue faster — CNQ at a 13.77% CAGR versus SHEL at 7.75%.

Does CNQ or SHEL pay a bigger dividend?

CNQ yields 3.49% and SHEL yields 3.12% based on trailing dividends and the latest price.

Is CNQ or SHEL more profitable?

CNQ runs the higher net margin — CNQ at 24.42% versus SHEL at 8.76%.

How have CNQ and SHEL total returns compared?

Over the past 10 years, CNQ delivered 18.24% and SHEL delivered 12.12% annualized total return. Past performance doesn't predict future results.

Canadian Natural Resources Limited (CNQ) vs Shell plc (SHEL)

A side-by-side comparison of Canadian Natural Resources Limited and Shell plc across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.

CNQ

Canadian Natural Resources Limited

$98.38B

$47.17EnergyDelayed quote: Sep 29, 2026, 4:00 PM EDT

SHEL

Shell plc

$265.26B

$95.14EnergyDelayed quote: Sep 29, 2026, 4:00 PM EDT

Total return — CNQ vs SHEL

growth of $100 · dividends reinvested · last 10y

CNQ +434.6% (+18.3%/yr)SHEL +230.0% (+12.7%/yr)CNQ compounded faster over this window

CNQ SHEL

CNQ vs SHEL: by the numbers

•SHEL is the larger company ($265.26B vs $98.38B market cap).
•SHEL trades at the lower trailing earnings multiple (10.50 vs 11.70 P/E), one valuation lens rather than an overall verdict.
•CNQ converts more revenue to profit (24.42% vs 8.76% net margin).
•CNQ grew revenue faster over the past five years (13.77% vs 7.75% CAGR).
•CNQ pays the higher dividend yield (3.49% vs 3.12%).

Metrics side by side

Valuation

Metric	CNQ	SHEL
P/E ratio	11.70	10.50
Forward P/E	N/A	8.45
P/S ratio	2.85	0.89
P/B ratio	2.99	1.47
EV / EBITDA	6.09	5.18
FCF yield	6.82%	11.89%

Profitability

Metric	CNQ	SHEL
Gross margin	21.29%	17.12%
Operating margin	18.62%	12.28%
Net margin	24.42%	8.76%
ROE	25.60%	14.37%
ROIC	13.86%	7.87%

Dividends

Metric	CNQ	SHEL
Dividend yield	3.49%	3.12%
Payout ratio	43.36%	33.36%

Growth (annualized)

Metric	CNQ	SHEL
Revenue CAGR (5Y)	13.77%	7.75%
EPS CAGR (5Y)	13.65%	7.44%
FCF CAGR (5Y)	9.62%	8.90%
Total return CAGR (5Y)	31.12%	24.37%

Frequently asked

Which has the lower trailing P/E, CNQ or SHEL?: SHEL has the lower trailing P/E: CNQ trades at 11.70 and SHEL at 10.50. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, CNQ or SHEL?: Over the past five years, CNQ grew revenue faster — CNQ at a 13.77% CAGR versus SHEL at 7.75%.
Does CNQ or SHEL pay a bigger dividend?: CNQ yields 3.49% and SHEL yields 3.12% based on trailing dividends and the latest price.
Is CNQ or SHEL more profitable?: CNQ runs the higher net margin — CNQ at 24.42% versus SHEL at 8.76%.
How have CNQ and SHEL total returns compared?: Over the past 10 years, CNQ delivered 18.24% and SHEL delivered 12.12% annualized total return. Past performance doesn't predict future results.

Go deeper

Full CNQ analysis Full SHEL analysis Interactive comparison tool

Dig into the metrics

Canadian Natural Resources P/E ratio Shell P/E ratio Canadian Natural Resources dividend yield Shell dividend yield Canadian Natural Resources ROE Shell ROE Canadian Natural Resources operating margin Shell operating margin Canadian Natural Resources revenue growth Shell revenue growth Canadian Natural Resources free cash flow Shell free cash flow

Canadian Natural Resources & Shell appear in these rankings

Highest Dividend Yield Stocks Highest ROE Stocks Highest FCF Yield Stocks Highest 10-Year Total Return Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.