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Canadian Natural Resources Limited (CNQ)
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Canadian Natural Resources Limited (CNQ) EV/Sales Ratio: 3.56x

popular:market cap|pe ratio|revenue|price history|total return

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

Canadian Natural Resources Limited's EV/Sales ratio of 3.56x is 32% above its 5-year average of 2.70x, near the high end of its 5-year range (1.64x–4.17x).

As of Friday, June 12, 2026. 22.20% above its 12-month average of 2.91x.

EV/EBITDA|P/S Ratio|Revenue|All Metrics

CNQ EV/Sales Ratio Chart

CNQ EV/Sales Ratio
3.56x+40.16% 1Y
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CNQ Average EV/Sales Ratio Chart

CNQ Current vs Average EV/Sales Ratio Chart

CNQ EV/Sales Ratio Metrics

EV/SALES RATIO

3.56x

EV/SALES RATIO AVG TTM

2.91x

EV/SALES RATIO AVG 3Y

2.76x

EV/SALES RATIO AVG 5Y

2.70x

EV/SALES RATIO AVG 10Y

3.27x

EV/SALES RATIO AVG 15Y

3.13x

EV/SALES RATIO AVG 20Y

3.29x

CURRENT VS TTM AVG

+22.20%

CURRENT VS 3Y AVG

+29.12%

CURRENT VS 5Y AVG

+31.77%

CURRENT VS 10Y AVG

+8.90%

CURRENT VS 15Y AVG

+13.57%

CURRENT VS 20Y AVG

+8.08%

CNQ Competitors' EV/Sales Ratio

NAMEMARKET CAPEV/SALES RATIOTTM3Y5Y
Canadian Natural Resources Limited (CNQ)$94.82B3.56x2.91x2.76x2.70x
SLB N.V. (SLB)$83.72B2.61x2.01x2.22x2.48x
Marathon Petroleum Corporation (MPC)$76.14B0.80x0.67x0.59x0.58x
Valero Energy Corporation (VLO)$74.95B0.65x0.51x0.41x0.41x
EOG Resources, Inc. (EOG)$72.62B3.30x2.97x2.93x3.01x
Phillips 66 (PSX)$71.41B0.69x0.59x0.52x0.49x
ONEOK, Inc. (OKE)$57.09B2.55x2.71x3.22x2.91x
Occidental Petroleum Corporation (OXY)$55.17B2.90x2.65x2.62x2.69x
ConocoPhillips (COP)$140.54B2.72x2.49x2.47x2.57x
Antero Midstream Corporation (AM)$10.15B10.83x10.04x9.35x8.94x

Understanding EV/Sales

Enterprise Value (EV) = Market Cap + Total Debt - Cash

Sales = Total Revenue (TTM)

EV/Sales is commonly used because:

  • It works for unprofitable companies where P/E doesn't apply
  • Revenue is harder to manipulate than earnings
  • It supports comparisons across companies at different profitability stages
  • It is frequently used for software and other revenue-growth-focused companies

Note: EV/Sales does not include margin, debt maturity, cash conversion, or growth durability by itself.

Canadian Natural Resources Limited EV/Sales Ratio Formula & Definition

EV/Sales = Enterprise Value / Revenue (TTM)

Enterprise value to sales compares total company value to revenue, useful across capital structures and for unprofitable companies.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

Canadian Natural Resources Limited EV/Sales Ratio FAQ

What is the EV/Sales ratio for Canadian Natural Resources Limited (CNQ)?
The EV/Sales ratio for CNQ stock is 3.56x.
Is Canadian Natural Resources Limited's EV/Sales ratio high or low?
Canadian Natural Resources Limited's EV/Sales ratio of 3.56x is 32% above its 5-year average of 2.70x, near the high end of its 5-year range (1.64x–4.17x).
What is the TTM average EV/Sales ratio for Canadian Natural Resources Limited (CNQ)?
The TTM average EV/Sales ratio for CNQ stock is 2.91x.
What is the 3Y average EV/Sales ratio for Canadian Natural Resources Limited (CNQ)?
The 3Y average EV/Sales ratio for CNQ stock is 2.76x.
What is the 5Y average EV/Sales ratio for Canadian Natural Resources Limited (CNQ)?
The 5Y average EV/Sales ratio for CNQ stock is 2.70x.
What is the 10Y average EV/Sales ratio for Canadian Natural Resources Limited (CNQ)?
The 10Y average EV/Sales ratio for CNQ stock is 3.27x.
What is the 15Y average EV/Sales ratio for Canadian Natural Resources Limited (CNQ)?
The 15Y average EV/Sales ratio for CNQ stock is 3.13x.
What is the 20Y average EV/Sales ratio for Canadian Natural Resources Limited (CNQ)?
The 20Y average EV/Sales ratio for CNQ stock is 3.29x.

Canadian Natural Resources Limited EV/Sales Ratio History

DATEEV/SALES RATIO
2026-06-113.56x
2026-06-103.57x
2026-06-093.52x
2026-06-083.62x
2026-06-053.58x
2026-06-043.72x
2026-06-033.72x
2026-06-023.69x
2026-06-013.60x
2026-05-293.56x
2026-05-283.59x
2026-05-273.58x
2026-05-263.66x
2026-05-223.79x
2026-05-213.79x
2026-05-203.80x
2026-05-193.84x
2026-05-183.81x
2026-05-153.74x
2026-05-143.71x
2026-05-133.69x
2026-05-123.67x
2026-05-113.54x
2026-05-083.50x
2026-05-073.51x
2026-05-063.57x
2026-05-053.72x
2026-05-043.70x
2026-05-013.66x
2026-04-303.71x
2026-04-293.68x
2026-04-283.62x
2026-04-273.53x
2026-04-243.48x
2026-04-233.56x
2026-04-223.51x
2026-04-213.48x
2026-04-203.41x
2026-04-173.39x
2026-04-163.62x
2026-04-153.58x
2026-04-143.57x
2026-04-133.66x
2026-04-103.62x
2026-04-093.58x
2026-04-083.63x
2026-04-073.81x
2026-04-063.75x
2026-04-023.70x
2026-04-013.64x
2026-03-313.78x
2026-03-303.83x
2026-03-273.88x
2026-03-263.78x
2026-03-253.81x
2026-03-243.73x
2026-03-233.69x
2026-03-203.73x
2026-03-193.84x
2026-03-183.74x
2026-03-173.73x
2026-03-163.72x
2026-03-133.69x
2026-03-123.70x
2026-03-113.61x
2026-03-103.51x
2026-03-093.55x
2026-03-063.55x
2026-03-053.48x
2026-03-043.41x
2026-03-033.40x
2026-03-023.42x
2026-02-273.38x
2026-02-263.33x
2026-02-253.30x
2026-02-243.30x
2026-02-233.28x
2026-02-203.28x
2026-02-193.29x
2026-02-183.23x
2026-02-173.16x
2026-02-133.17x
2026-02-123.12x
2026-02-113.16x
2026-02-103.06x
2026-02-093.06x
2026-02-063.06x
2026-02-052.98x
2026-02-043.02x
2026-02-032.95x
2026-02-022.88x
2026-01-302.93x
2026-01-292.98x
2026-01-282.92x
2026-01-272.90x
2026-01-262.85x
2026-01-232.86x
2026-01-222.82x
2026-01-212.85x
2026-01-202.74x
2026-01-162.74x
2026-01-152.72x
2026-01-142.76x
2026-01-132.66x
2026-01-122.60x
2026-01-092.58x
2026-01-082.55x
2026-01-072.48x
2026-01-062.55x
2026-01-052.59x
2026-01-022.74x
2025-12-312.70x
2025-12-302.71x
2025-12-292.66x
2025-12-262.63x
2025-12-242.64x
2025-12-232.63x
2025-12-222.60x
2025-12-192.57x
2025-12-182.54x
2025-12-172.57x
2025-12-162.53x
2025-12-152.61x
2025-12-122.65x
2025-12-112.66x
2025-12-102.69x
2025-12-092.70x
2025-12-082.72x
2025-12-052.76x
2025-12-042.75x
2025-12-032.72x
2025-12-022.68x
2025-12-012.72x
2025-11-282.70x
2025-11-262.67x
2025-11-252.66x
2025-11-242.64x
2025-11-212.68x
2025-11-202.71x
2025-11-192.71x
2025-11-182.72x
2025-11-172.67x
2025-11-142.68x
2025-11-132.62x
2025-11-122.61x
2025-11-112.60x
2025-11-102.58x
2025-11-072.55x
2025-11-062.54x
2025-11-052.54x
2025-11-042.50x
2025-11-032.54x
2025-10-312.55x
2025-10-302.54x
2025-10-292.55x
2025-10-282.50x
2025-10-272.51x
2025-10-242.49x
2025-10-232.49x
2025-10-222.43x
2025-10-212.40x
2025-10-202.42x
2025-10-172.42x
2025-10-162.42x
2025-10-152.47x
2025-10-142.47x
2025-10-132.52x
2025-10-102.50x
2025-10-092.59x
2025-10-082.59x
2025-10-072.59x
2025-10-062.57x
2025-10-032.53x
2025-10-022.51x
2025-10-012.53x
2025-09-302.54x
2025-09-292.56x
2025-09-262.59x
2025-09-252.58x
2025-09-242.60x
2025-09-232.55x
2025-09-222.55x
2025-09-192.52x
2025-09-182.58x
2025-09-172.59x
2025-09-162.61x
2025-09-152.55x
2025-09-122.49x
2025-09-112.49x
2025-09-102.49x
2025-09-092.47x
2025-09-082.43x
2025-09-052.43x
2025-09-042.50x
2025-09-032.49x
2025-09-022.54x
2025-08-292.52x
2025-08-282.51x
2025-08-272.50x
2025-08-262.44x
2025-08-252.48x
2025-08-222.49x
2025-08-212.42x
2025-08-202.38x
2025-08-192.36x
2025-08-182.39x
2025-08-152.40x
2025-08-142.40x
2025-08-132.41x
2025-08-122.40x
2025-08-112.40x
2025-08-082.43x
2025-08-072.44x
2025-08-062.44x
2025-08-052.45x
2025-08-042.41x
2025-08-012.42x
2025-07-312.47x
2025-07-302.48x
2025-07-292.50x
2025-07-282.48x
2025-07-252.45x
2025-07-242.46x
2025-07-232.45x
2025-07-222.43x
2025-07-212.39x
2025-07-182.41x
2025-07-172.42x
2025-07-162.41x
2025-07-152.44x
2025-07-142.47x
2025-07-112.49x
2025-07-102.47x
2025-07-092.49x
2025-07-082.50x
2025-07-072.47x
2025-07-032.50x
2025-07-022.51x
2025-07-012.46x
2025-06-302.45x
2025-06-272.45x
2025-06-262.48x
2025-06-252.45x
2025-06-242.46x
2025-06-232.50x
2025-06-202.58x
2025-06-182.59x
2025-06-172.62x
2025-06-162.57x
2025-06-132.60x
2025-06-122.56x
2025-06-112.54x
2025-06-102.50x
2025-06-092.46x
2025-06-062.46x
2025-06-052.42x
2025-06-042.42x
2025-06-032.45x
2025-06-022.41x
2025-05-302.38x

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

Related Metrics

EV/EBITDAP/S RatioRevenueAll 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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