Canadian Natural Resources Limited (CNQ) EV/FCF Ratio: 23.46x
Is Canadian Natural Resources Limited’s EV/FCF ratio high or low?
Canadian Natural Resources Limited's EV/FCF ratio of 23.46x is 86% above its 5-year average of 12.61x, near the high end of its 5-year range (6.68x–26.03x).
As of Friday, June 12, 2026. 48.25% above its 12-month average of 15.82x.
CNQ EV/FCF Ratio Chart
CNQ Average EV/FCF Ratio Chart
CNQ Current vs Average EV/FCF Ratio Chart
CNQ EV/FCF Ratio Metrics
EV/FCF RATIO
23.46x
EV/FCF RATIO AVG TTM
15.82x
EV/FCF RATIO AVG 3Y
13.66x
EV/FCF RATIO AVG 5Y
12.61x
EV/FCF RATIO AVG 10Y
17.41x
EV/FCF RATIO AVG 15Y
89.83x
EV/FCF RATIO AVG 20Y
85.04x
CURRENT VS TTM AVG
+48.25%
CURRENT VS 3Y AVG
+71.76%
CURRENT VS 5Y AVG
+86.10%
CURRENT VS 10Y AVG
+34.77%
CURRENT VS 15Y AVG
-73.88%
CURRENT VS 20Y AVG
-72.41%
CNQ Competitors' EV/FCF Ratio
| NAME | MARKET CAP | EV/FCF RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Canadian Natural Resources Limited (CNQ) | $94.82B | 23.46x | 15.82x | 13.66x | 12.61x |
| SLB N.V. (SLB) | $83.72B | 20.02x | 15.75x | 18.92x | 23.22x |
| Marathon Petroleum Corporation (MPC) | $76.14B | 19.14x | 20.77x | 13.09x | 20.22x |
| Valero Energy Corporation (VLO) | $74.95B | 13.82x | 13.80x | 9.52x | 12.79x |
| EOG Resources, Inc. (EOG) | $72.62B | 18.32x | 16.30x | 13.58x | 14.94x |
| Phillips 66 (PSX) | $71.41B | 788.21x | 135.82x | 57.31x | 40.69x |
| ONEOK, Inc. (OKE) | $57.09B | 40.06x | 30.20x | 27.61x | 27.74x |
| Occidental Petroleum Corporation (OXY) | $55.17B | 18.88x | 16.55x | 14.44x | 12.95x |
| ConocoPhillips (COP) | $140.54B | 8.66x | 12.71x | 14.04x | 18.51x |
| Antero Midstream Corporation (AM) | $10.15B | 15.20x | 13.54x | 19.01x | 19.41x |
Cash Flow Valuation Comparison
EV/FCF
23.5x
P/FCF
21.3x
FCF Yield
4.71%
Formula: EV/FCF = Enterprise Value / Free Cash Flow
EV/FCF vs P/FCF:
- EV/FCF accounts for debt and cash through enterprise value
- P/FCF only considers equity value
- EV/FCF can be compared across companies with different debt levels
- Both measure how the market values cash generation
Canadian Natural Resources Limited EV/FCF Ratio Formula & Definition
EV/FCF = Enterprise Value / Free Cash Flow (TTM)
Enterprise value to free cash flow compares total company value to the cash the business generates after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Canadian Natural Resources Limited EV/FCF Ratio FAQ
- What is the EV/FCF ratio for Canadian Natural Resources Limited (CNQ)?
- The EV/FCF ratio for CNQ stock is 23.46x.
- Is Canadian Natural Resources Limited's EV/FCF ratio high or low?
- Canadian Natural Resources Limited's EV/FCF ratio of 23.46x is 86% above its 5-year average of 12.61x, near the high end of its 5-year range (6.68x–26.03x).
- What is the TTM average EV/FCF ratio for Canadian Natural Resources Limited (CNQ)?
- The TTM average EV/FCF ratio for CNQ stock is 15.82x.
- What is the 3Y average EV/FCF ratio for Canadian Natural Resources Limited (CNQ)?
- The 3Y average EV/FCF ratio for CNQ stock is 13.66x.
- What is the 5Y average EV/FCF ratio for Canadian Natural Resources Limited (CNQ)?
- The 5Y average EV/FCF ratio for CNQ stock is 12.61x.
- What is the 10Y average EV/FCF ratio for Canadian Natural Resources Limited (CNQ)?
- The 10Y average EV/FCF ratio for CNQ stock is 17.41x.
- What is the 15Y average EV/FCF ratio for Canadian Natural Resources Limited (CNQ)?
- The 15Y average EV/FCF ratio for CNQ stock is 89.83x.
- What is the 20Y average EV/FCF ratio for Canadian Natural Resources Limited (CNQ)?
- The 20Y average EV/FCF ratio for CNQ stock is 85.04x.
Canadian Natural Resources Limited EV/FCF Ratio History
| DATE | EV/FCF RATIO |
|---|---|
| 2026-06-11 | 23.46x |
| 2026-06-10 | 23.50x |
| 2026-06-09 | 23.17x |
| 2026-06-08 | 23.86x |
| 2026-06-05 | 23.58x |
| 2026-06-04 | 24.50x |
| 2026-06-03 | 24.51x |
| 2026-06-02 | 24.29x |
| 2026-06-01 | 23.70x |
| 2026-05-29 | 23.43x |
| 2026-05-28 | 23.63x |
| 2026-05-27 | 23.60x |
| 2026-05-26 | 24.11x |
| 2026-05-22 | 24.94x |
| 2026-05-21 | 24.98x |
| 2026-05-20 | 25.02x |
| 2026-05-19 | 25.32x |
| 2026-05-18 | 25.10x |
| 2026-05-15 | 24.65x |
| 2026-05-14 | 24.46x |
| 2026-05-13 | 24.28x |
| 2026-05-12 | 24.15x |
| 2026-05-11 | 23.34x |
| 2026-05-08 | 23.03x |
| 2026-05-07 | 23.13x |
| 2026-05-06 | 18.37x |
| 2026-05-05 | 19.15x |
| 2026-05-04 | 19.06x |
| 2026-05-01 | 18.84x |
| 2026-04-30 | 19.09x |
| 2026-04-29 | 18.93x |
| 2026-04-28 | 18.63x |
| 2026-04-27 | 18.16x |
| 2026-04-24 | 17.88x |
| 2026-04-23 | 18.30x |
| 2026-04-22 | 18.04x |
| 2026-04-21 | 17.90x |
| 2026-04-20 | 17.55x |
| 2026-04-17 | 17.45x |
| 2026-04-16 | 18.61x |
| 2026-04-15 | 18.42x |
| 2026-04-14 | 18.38x |
| 2026-04-13 | 18.80x |
| 2026-04-10 | 18.62x |
| 2026-04-09 | 18.40x |
| 2026-04-08 | 18.65x |
| 2026-04-07 | 19.61x |
| 2026-04-06 | 19.29x |
| 2026-04-02 | 19.04x |
| 2026-04-01 | 18.70x |
| 2026-03-31 | 19.46x |
| 2026-03-30 | 19.69x |
| 2026-03-27 | 19.94x |
| 2026-03-26 | 19.45x |
| 2026-03-25 | 19.62x |
| 2026-03-24 | 19.81x |
| 2026-03-23 | 19.58x |
| 2026-03-20 | 19.81x |
| 2026-03-19 | 20.36x |
| 2026-03-18 | 19.84x |
| 2026-03-17 | 19.80x |
| 2026-03-16 | 19.73x |
| 2026-03-13 | 19.60x |
| 2026-03-12 | 19.65x |
| 2026-03-11 | 19.18x |
| 2026-03-10 | 18.62x |
| 2026-03-09 | 18.81x |
| 2026-03-06 | 18.83x |
| 2026-03-05 | 18.48x |
| 2026-03-04 | 18.07x |
| 2026-03-03 | 18.05x |
| 2026-03-02 | 18.13x |
| 2026-02-27 | 17.92x |
| 2026-02-26 | 17.67x |
| 2026-02-25 | 17.49x |
| 2026-02-24 | 17.49x |
| 2026-02-23 | 17.40x |
| 2026-02-20 | 17.42x |
| 2026-02-19 | 17.46x |
| 2026-02-18 | 17.16x |
| 2026-02-17 | 16.77x |
| 2026-02-13 | 16.80x |
| 2026-02-12 | 16.56x |
| 2026-02-11 | 16.79x |
| 2026-02-10 | 16.23x |
| 2026-02-09 | 16.26x |
| 2026-02-06 | 16.23x |
| 2026-02-05 | 15.80x |
| 2026-02-04 | 16.03x |
| 2026-02-03 | 15.65x |
| 2026-02-02 | 15.30x |
| 2026-01-30 | 15.55x |
| 2026-01-29 | 15.79x |
| 2026-01-28 | 15.51x |
| 2026-01-27 | 15.36x |
| 2026-01-26 | 15.14x |
| 2026-01-23 | 15.17x |
| 2026-01-22 | 14.93x |
| 2026-01-21 | 15.11x |
| 2026-01-20 | 14.55x |
| 2026-01-16 | 14.52x |
| 2026-01-15 | 14.43x |
| 2026-01-14 | 14.62x |
| 2026-01-13 | 14.09x |
| 2026-01-12 | 13.78x |
| 2026-01-09 | 13.71x |
| 2026-01-08 | 13.51x |
| 2026-01-07 | 13.17x |
| 2026-01-06 | 13.53x |
| 2026-01-05 | 13.76x |
| 2026-01-02 | 14.51x |
| 2025-12-31 | 14.34x |
| 2025-12-30 | 14.36x |
| 2025-12-29 | 14.11x |
| 2025-12-26 | 13.96x |
| 2025-12-24 | 14.03x |
| 2025-12-23 | 13.98x |
| 2025-12-22 | 13.80x |
| 2025-12-19 | 13.64x |
| 2025-12-18 | 13.49x |
| 2025-12-17 | 13.63x |
| 2025-12-16 | 13.41x |
| 2025-12-15 | 13.83x |
| 2025-12-12 | 14.03x |
| 2025-12-11 | 14.09x |
| 2025-12-10 | 14.30x |
| 2025-12-09 | 14.30x |
| 2025-12-08 | 14.42x |
| 2025-12-05 | 14.63x |
| 2025-12-04 | 14.56x |
| 2025-12-03 | 14.44x |
| 2025-12-02 | 14.23x |
| 2025-12-01 | 14.42x |
| 2025-11-28 | 14.31x |
| 2025-11-26 | 14.15x |
| 2025-11-25 | 14.12x |
| 2025-11-24 | 14.01x |
| 2025-11-21 | 14.19x |
| 2025-11-20 | 14.39x |
| 2025-11-19 | 14.40x |
| 2025-11-18 | 14.42x |
| 2025-11-17 | 14.16x |
| 2025-11-14 | 14.24x |
| 2025-11-13 | 13.87x |
| 2025-11-12 | 13.83x |
| 2025-11-11 | 13.82x |
| 2025-11-10 | 13.67x |
| 2025-11-07 | 13.55x |
| 2025-11-06 | 13.49x |
| 2025-11-05 | 14.03x |
| 2025-11-04 | 13.84x |
| 2025-11-03 | 14.06x |
| 2025-10-31 | 14.08x |
| 2025-10-30 | 14.05x |
| 2025-10-29 | 14.13x |
| 2025-10-28 | 13.83x |
| 2025-10-27 | 13.89x |
| 2025-10-24 | 13.81x |
| 2025-10-23 | 13.79x |
| 2025-10-22 | 13.46x |
| 2025-10-21 | 13.30x |
| 2025-10-20 | 13.37x |
| 2025-10-17 | 13.38x |
| 2025-10-16 | 13.41x |
| 2025-10-15 | 13.65x |
| 2025-10-14 | 13.68x |
| 2025-10-13 | 13.93x |
| 2025-10-10 | 13.85x |
| 2025-10-09 | 14.34x |
| 2025-10-08 | 14.31x |
| 2025-10-07 | 14.36x |
| 2025-10-06 | 14.24x |
| 2025-10-03 | 14.01x |
| 2025-10-02 | 13.87x |
| 2025-10-01 | 13.99x |
| 2025-09-30 | 14.06x |
| 2025-09-29 | 14.19x |
| 2025-09-26 | 14.33x |
| 2025-09-25 | 14.25x |
| 2025-09-24 | 14.37x |
| 2025-09-23 | 14.13x |
| 2025-09-22 | 14.12x |
| 2025-09-19 | 13.92x |
| 2025-09-18 | 14.27x |
| 2025-09-17 | 14.36x |
| 2025-09-16 | 14.42x |
| 2025-09-15 | 14.09x |
| 2025-09-12 | 13.78x |
| 2025-09-11 | 13.79x |
| 2025-09-10 | 13.78x |
| 2025-09-09 | 13.66x |
| 2025-09-08 | 13.44x |
| 2025-09-05 | 13.47x |
| 2025-09-04 | 13.84x |
| 2025-09-03 | 13.79x |
| 2025-09-02 | 14.08x |
| 2025-08-29 | 13.95x |
| 2025-08-28 | 13.89x |
| 2025-08-27 | 13.81x |
| 2025-08-26 | 13.52x |
| 2025-08-25 | 13.72x |
| 2025-08-22 | 13.76x |
| 2025-08-21 | 13.39x |
| 2025-08-20 | 13.20x |
| 2025-08-19 | 13.08x |
| 2025-08-18 | 13.25x |
| 2025-08-15 | 13.27x |
| 2025-08-14 | 13.26x |
| 2025-08-13 | 13.31x |
| 2025-08-12 | 13.30x |
| 2025-08-11 | 13.30x |
| 2025-08-08 | 13.45x |
| 2025-08-07 | 13.49x |
| 2025-08-06 | 11.88x |
| 2025-08-05 | 11.91x |
| 2025-08-04 | 11.70x |
| 2025-08-01 | 11.76x |
| 2025-07-31 | 11.99x |
| 2025-07-30 | 12.06x |
| 2025-07-29 | 12.16x |
| 2025-07-28 | 12.07x |
| 2025-07-25 | 11.89x |
| 2025-07-24 | 11.97x |
| 2025-07-23 | 11.90x |
| 2025-07-22 | 11.83x |
| 2025-07-21 | 11.63x |
| 2025-07-18 | 11.71x |
| 2025-07-17 | 11.77x |
| 2025-07-16 | 11.73x |
| 2025-07-15 | 11.86x |
| 2025-07-14 | 12.02x |
| 2025-07-11 | 12.12x |
| 2025-07-10 | 12.02x |
| 2025-07-09 | 12.08x |
| 2025-07-08 | 12.13x |
| 2025-07-07 | 12.01x |
| 2025-07-03 | 12.16x |
| 2025-07-02 | 12.22x |
| 2025-07-01 | 11.98x |
| 2025-06-30 | 11.90x |
| 2025-06-27 | 11.91x |
| 2025-06-26 | 12.06x |
| 2025-06-25 | 11.89x |
| 2025-06-24 | 11.93x |
| 2025-06-23 | 12.13x |
| 2025-06-20 | 12.53x |
| 2025-06-18 | 12.60x |
| 2025-06-17 | 12.73x |
| 2025-06-16 | 12.51x |
| 2025-06-13 | 12.66x |
| 2025-06-12 | 12.45x |
| 2025-06-11 | 12.32x |
| 2025-06-10 | 12.14x |
| 2025-06-09 | 11.97x |
| 2025-06-06 | 11.95x |
| 2025-06-05 | 11.76x |
| 2025-06-04 | 11.74x |
| 2025-06-03 | 11.91x |
| 2025-06-02 | 11.71x |
| 2025-05-30 | 11.56x |
Showing the most recent 260 of 3,379 data points. The chart above shows the full history.
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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.
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- CEO
- Norman Murray Edwards