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Canadian Natural Resources Limited (CNQ)
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Canadian Natural Resources Limited (CNQ) EV/EBITDA Ratio: 6.48x

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Is Canadian Natural Resources Limited’s EV/EBITDA ratio high or low?

Canadian Natural Resources Limited's EV/EBITDA ratio of 6.48x is in line with its 5-year average of 6.24x, around the middle of its 5-year range (3.58x–9.33x).

As of Friday, June 12, 2026. 1.89% below its 12-month average of 6.60x.

EV/Sales|P/E Ratio|EBITDA|All Metrics

CNQ EV/EBITDA Ratio Chart

CNQ EV/EBITDA Ratio
6.48x+0.31% 1Y
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CNQ Average EV/EBITDA Ratio Chart

CNQ Current vs Average EV/EBITDA Ratio Chart

CNQ EV/EBITDA Ratio Metrics

EV/EBITDA RATIO

6.48x

EV/EBITDA RATIO AVG TTM

6.60x

EV/EBITDA RATIO AVG 3Y

6.71x

EV/EBITDA RATIO AVG 5Y

6.24x

EV/EBITDA RATIO AVG 10Y

7.57x

EV/EBITDA RATIO AVG 15Y

7.14x

EV/EBITDA RATIO AVG 20Y

7.43x

CURRENT VS TTM AVG

-1.89%

CURRENT VS 3Y AVG

-3.45%

CURRENT VS 5Y AVG

+3.84%

CURRENT VS 10Y AVG

-14.46%

CURRENT VS 15Y AVG

-9.18%

CURRENT VS 20Y AVG

-12.84%

CNQ Competitors' EV/EBITDA Ratio

NAMEMARKET CAPEV/EBITDA RATIOTTM3Y5Y
Canadian Natural Resources Limited (CNQ)$94.82B6.48x6.60x6.71x6.24x
SLB N.V. (SLB)$83.72B14.05x10.04x10.13x11.28x
Marathon Petroleum Corporation (MPC)$76.14B8.81x8.85x6.37x7.26x
Valero Energy Corporation (VLO)$74.95B9.00x11.47x6.97x8.58x
EOG Resources, Inc. (EOG)$72.62B6.36x5.82x5.38x6.10x
Phillips 66 (PSX)$71.41B10.21x11.28x8.58x9.54x
ONEOK, Inc. (OKE)$57.09B11.44x10.89x12.02x12.23x
Occidental Petroleum Corporation (OXY)$55.17B5.87x5.57x5.27x5.54x
ConocoPhillips (COP)$140.54B6.49x5.71x5.52x5.76x
Antero Midstream Corporation (AM)$10.15B14.36x12.50x11.53x10.91x

EV/EBITDA vs. its own history

At 6.5, EV/EBITDA is in its normal range, sitting higher than 45% of its 20-year history.

20-year low

2.9

median

6.7

20-year high

17.7

cheaperricher

Canadian Natural Resources Limited EV/EBITDA Ratio Formula & Definition

EV/EBITDA = Enterprise Value / EBITDA (TTM)

Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

Canadian Natural Resources Limited EV/EBITDA Ratio FAQ

What is the EV/EBITDA ratio for Canadian Natural Resources Limited (CNQ)?
The EV/EBITDA ratio for CNQ stock is 6.48x.
Is Canadian Natural Resources Limited's EV/EBITDA ratio high or low?
Canadian Natural Resources Limited's EV/EBITDA ratio of 6.48x is in line with its 5-year average of 6.24x, around the middle of its 5-year range (3.58x–9.33x).
What is the TTM average EV/EBITDA ratio for Canadian Natural Resources Limited (CNQ)?
The TTM average EV/EBITDA ratio for CNQ stock is 6.60x.
What is the 3Y average EV/EBITDA ratio for Canadian Natural Resources Limited (CNQ)?
The 3Y average EV/EBITDA ratio for CNQ stock is 6.71x.
What is the 5Y average EV/EBITDA ratio for Canadian Natural Resources Limited (CNQ)?
The 5Y average EV/EBITDA ratio for CNQ stock is 6.24x.
What is the 10Y average EV/EBITDA ratio for Canadian Natural Resources Limited (CNQ)?
The 10Y average EV/EBITDA ratio for CNQ stock is 7.57x.
What is the 15Y average EV/EBITDA ratio for Canadian Natural Resources Limited (CNQ)?
The 15Y average EV/EBITDA ratio for CNQ stock is 7.14x.
What is the 20Y average EV/EBITDA ratio for Canadian Natural Resources Limited (CNQ)?
The 20Y average EV/EBITDA ratio for CNQ stock is 7.43x.

Canadian Natural Resources Limited EV/EBITDA Ratio History

DATEEV/EBITDA RATIO
2026-06-116.48x
2026-06-106.49x
2026-06-096.40x
2026-06-086.59x
2026-06-056.51x
2026-06-046.76x
2026-06-036.77x
2026-06-026.71x
2026-06-016.54x
2026-05-296.47x
2026-05-286.53x
2026-05-276.52x
2026-05-266.66x
2026-05-226.89x
2026-05-216.90x
2026-05-206.91x
2026-05-196.99x
2026-05-186.93x
2026-05-156.81x
2026-05-146.75x
2026-05-136.70x
2026-05-126.67x
2026-05-116.45x
2026-05-086.36x
2026-05-076.39x
2026-05-066.43x
2026-05-056.71x
2026-05-046.67x
2026-05-016.60x
2026-04-306.69x
2026-04-296.63x
2026-04-286.52x
2026-04-276.36x
2026-04-246.26x
2026-04-236.41x
2026-04-226.32x
2026-04-216.27x
2026-04-206.15x
2026-04-176.11x
2026-04-166.52x
2026-04-156.45x
2026-04-146.44x
2026-04-136.59x
2026-04-106.52x
2026-04-096.44x
2026-04-086.53x
2026-04-076.87x
2026-04-066.76x
2026-04-026.67x
2026-04-016.55x
2026-03-316.82x
2026-03-306.90x
2026-03-276.98x
2026-03-266.81x
2026-03-256.87x
2026-03-249.07x
2026-03-238.97x
2026-03-209.07x
2026-03-199.33x
2026-03-189.09x
2026-03-179.07x
2026-03-169.04x
2026-03-138.98x
2026-03-129.00x
2026-03-118.78x
2026-03-108.53x
2026-03-098.62x
2026-03-068.63x
2026-03-058.46x
2026-03-048.28x
2026-03-038.27x
2026-03-028.30x
2026-02-278.21x
2026-02-268.10x
2026-02-258.01x
2026-02-248.01x
2026-02-237.97x
2026-02-207.98x
2026-02-198.00x
2026-02-187.86x
2026-02-177.68x
2026-02-137.70x
2026-02-127.58x
2026-02-117.69x
2026-02-107.44x
2026-02-097.45x
2026-02-067.44x
2026-02-057.24x
2026-02-047.34x
2026-02-037.17x
2026-02-027.01x
2026-01-307.13x
2026-01-297.23x
2026-01-287.11x
2026-01-277.04x
2026-01-266.93x
2026-01-236.95x
2026-01-226.84x
2026-01-216.92x
2026-01-206.67x
2026-01-166.65x
2026-01-156.61x
2026-01-146.70x
2026-01-136.46x
2026-01-126.31x
2026-01-096.28x
2026-01-086.19x
2026-01-076.03x
2026-01-066.20x
2026-01-056.30x
2026-01-026.65x
2025-12-316.57x
2025-12-306.58x
2025-12-296.46x
2025-12-266.40x
2025-12-246.43x
2025-12-236.40x
2025-12-226.32x
2025-12-196.25x
2025-12-186.18x
2025-12-176.24x
2025-12-166.14x
2025-12-156.33x
2025-12-126.43x
2025-12-116.45x
2025-12-106.55x
2025-12-096.55x
2025-12-086.61x
2025-12-056.70x
2025-12-046.67x
2025-12-036.62x
2025-12-026.52x
2025-12-016.60x
2025-11-286.56x
2025-11-266.48x
2025-11-256.47x
2025-11-246.42x
2025-11-216.50x
2025-11-206.59x
2025-11-196.60x
2025-11-186.60x
2025-11-176.48x
2025-11-146.52x
2025-11-136.36x
2025-11-126.34x
2025-11-116.33x
2025-11-106.26x
2025-11-076.21x
2025-11-066.18x
2025-11-056.06x
2025-11-045.97x
2025-11-036.07x
2025-10-316.08x
2025-10-306.06x
2025-10-296.10x
2025-10-285.97x
2025-10-275.99x
2025-10-245.96x
2025-10-235.95x
2025-10-225.81x
2025-10-215.74x
2025-10-205.77x
2025-10-175.78x
2025-10-165.79x
2025-10-155.89x
2025-10-145.90x
2025-10-136.01x
2025-10-105.98x
2025-10-096.19x
2025-10-086.18x
2025-10-076.20x
2025-10-066.15x
2025-10-036.05x
2025-10-025.98x
2025-10-016.04x
2025-09-306.07x
2025-09-296.12x
2025-09-266.19x
2025-09-256.15x
2025-09-246.20x
2025-09-236.10x
2025-09-226.09x
2025-09-196.01x
2025-09-186.16x
2025-09-176.20x
2025-09-166.22x
2025-09-156.08x
2025-09-125.94x
2025-09-115.95x
2025-09-105.95x
2025-09-095.90x
2025-09-085.80x
2025-09-055.81x
2025-09-045.97x
2025-09-035.95x
2025-09-026.07x
2025-08-296.02x
2025-08-285.99x
2025-08-275.96x
2025-08-265.83x
2025-08-255.92x
2025-08-225.94x
2025-08-215.78x
2025-08-205.70x
2025-08-195.64x
2025-08-185.72x
2025-08-155.73x
2025-08-145.72x
2025-08-135.74x
2025-08-125.74x
2025-08-115.74x
2025-08-085.80x
2025-08-075.82x
2025-08-066.23x
2025-08-056.24x
2025-08-046.13x
2025-08-016.16x
2025-07-316.29x
2025-07-306.32x
2025-07-296.38x
2025-07-286.33x
2025-07-256.23x
2025-07-246.28x
2025-07-236.24x
2025-07-226.20x
2025-07-216.09x
2025-07-186.14x
2025-07-176.17x
2025-07-166.15x
2025-07-156.22x
2025-07-146.30x
2025-07-116.35x
2025-07-106.30x
2025-07-096.33x
2025-07-086.36x
2025-07-076.29x
2025-07-036.37x
2025-07-026.41x
2025-07-016.28x
2025-06-306.24x
2025-06-276.24x
2025-06-266.32x
2025-06-256.23x
2025-06-246.26x
2025-06-236.36x
2025-06-206.57x
2025-06-186.61x
2025-06-176.67x
2025-06-166.56x
2025-06-136.64x
2025-06-126.53x
2025-06-116.46x
2025-06-106.37x
2025-06-096.27x
2025-06-066.27x
2025-06-056.17x
2025-06-046.15x
2025-06-036.24x
2025-06-026.14x
2025-05-306.06x

Showing the most recent 260 of 5,032 data points. The chart above shows the full history.

Related Metrics

EV/SalesP/E RatioEBITDAAll Metrics

About Canadian Natural Resources Limited

Canadian Natural Resources Limited (CNQ) is an integrated energy enterprise engaged across the full spectrum of upstream and downstream activities related to crude oil, natural gas, and natural gas liquids (NGLs), encompassing acquisition, exploration, development, production, marketing, and sales. Its diverse portfolio of hydrocarbon products encompasses synthetic crude oil (SCO), light and medium crude, bitumen (also known as thermal oil), along with both primary heavy crude oil and specialized Pelican Lake heavy crude. Beyond exploration and production, the company holds midstream and refining assets, notably comprising two crude oil pipeline networks and a half-interest (50% working interest) in an 84-megawatt cogeneration facility situated at Primrose. As of December 31, 2020, CNQ reported substantial reserves. Its proved crude oil, bitumen, and NGLs reserves amounted to 10,528 million barrels (MMbbl), escalating to 13,271 MMbbl when probable reserves are included. Proved synthetic crude oil (SCO) reserves stood at 6,998 MMbbl, with total proved plus probable SCO reserves reaching 7,535 MMbbl. Furthermore, the company's proved natural gas reserves were recorded at 12,168 billion cubic feet (Bcf), expanding to 20,249 Bcf on a proved plus probable basis. Geographically, its operations are concentrated in key regions, including Western Canada, the United Kingdom's North Sea sector, and offshore West Africa. The entity, incorporated in 1973, was originally known as AEX Minerals Corporation before adopting the name Canadian Natural Resources Limited in December 1975. Its corporate headquarters are located in Calgary, Canada.

Calgary, AB
10,640 employees
www.cnrl.com
Energy / Oil & Gas Exploration & Production
Sector
Energy
Industry
Oil & Gas Exploration & Production
CEO
Norman Murray Edwards
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