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Canadian Natural Resources Valuation Multiples
Discover revenue and EBITDA valuation multiples for Canadian Natural Resources and similar public comparables like China Yangtze Power, China Petroleum, Equinor, Williams Companies and more.
Canadian Natural Resources Overview
About Canadian Natural Resources
Canadian Natural Resources is the largest producer of oil and the second-largest producer of natural gas in Canada. It is principally involved in extracting heavy oils, natural gas, and bitumen through its drilling and mining operations. Bitumen from mining operations is upgraded into synthetic crude oil. Commodities produced are primarily exported to the US via pipeline. The company also has smaller offshore production operations in the North Sea and Africa.
Founded
1973
HQ
Employees
10.6K
Website
Sectors
Financials (LTM)
EV
$108B
Canadian Natural Resources Financials
Canadian Natural Resources reported last 12-month revenue of $29B and EBITDA of $14B.
In the same LTM period, Canadian Natural Resources generated $22B in gross profit, $14B in EBITDA, and $8B in net income.
Revenue (LTM)
Canadian Natural Resources P&L
In the most recent fiscal year, Canadian Natural Resources reported revenue of $32B and EBITDA of $16B.
Canadian Natural Resources expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $29B | XXX | $32B | XXX | XXX | XXX |
| Gross Profit | $22B | XXX | $7B | XXX | XXX | XXX |
| Gross Margin | 76% | XXX | 21% | XXX | XXX | XXX |
| EBITDA | $14B | XXX | $16B | XXX | XXX | XXX |
| EBITDA Margin | 50% | XXX | 50% | XXX | XXX | XXX |
| EBIT Margin | 27% | XXX | 21% | XXX | XXX | XXX |
| Net Profit | $8B | XXX | $8B | XXX | XXX | XXX |
| Net Margin | 27% | XXX | 25% | XXX | XXX | XXX |
| Net Debt | — | — | $12B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Canadian Natural Resources Stock Performance
Canadian Natural Resources has current market cap of $96B, and enterprise value of $108B.
Market Cap Evolution
Canadian Natural Resources' stock price is $46.22.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $108B | $96B | 1.1% | XXX | XXX | XXX | $3.79 |
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Start Free TrialCanadian Natural Resources Valuation Multiples
Canadian Natural Resources trades at 3.8x EV/Revenue multiple, and 7.6x EV/EBITDA.
EV / Revenue (LTM)
Canadian Natural Resources Financial Valuation Multiples
As of April 17, 2026, Canadian Natural Resources has market cap of $96B and EV of $108B.
Equity research analysts estimate Canadian Natural Resources' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Canadian Natural Resources has a P/E ratio of 12.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $96B | XXX | $96B | XXX | XXX | XXX |
| EV (current) | $108B | XXX | $108B | XXX | XXX | XXX |
| EV/Revenue | 3.8x | XXX | 3.4x | XXX | XXX | XXX |
| EV/EBITDA | 7.6x | XXX | 6.8x | XXX | XXX | XXX |
| EV/EBIT | 14.1x | XXX | 15.7x | XXX | XXX | XXX |
| EV/Gross Profit | 5.0x | XXX | 15.8x | XXX | XXX | XXX |
| P/E | 12.6x | XXX | 12.2x | XXX | XXX | XXX |
| EV/FCF | 19.1x | XXX | 17.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Canadian Natural Resources Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Canadian Natural Resources Margins & Growth Rates
Canadian Natural Resources' revenue in the last 12 month grew by 4%.
Canadian Natural Resources' revenue per employee in the last FY averaged $3.0M, while opex per employee averaged $0.1M for the same period.
Canadian Natural Resources' rule of 40 is 48% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Canadian Natural Resources' rule of X is 35% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Canadian Natural Resources Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4% | XXX | (8%) | XXX | XXX | XXX |
| EBITDA Margin | 50% | XXX | 50% | XXX | XXX | XXX |
| EBITDA Growth | 14% | XXX | 4% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 48% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 35% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $3.0M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 3% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Canadian Natural Resources Public Comps
See public comps and valuation multiples for other Energy Production and Oil & Gas comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Canadian Natural Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| China Yangtze Power | XXX | XXX | XXX | XXX | XXX | XXX |
| China Petroleum | XXX | XXX | XXX | XXX | XXX | XXX |
| Equinor | XXX | XXX | XXX | XXX | XXX | XXX |
| Williams Companies | XXX | XXX | XXX | XXX | XXX | XXX |
| Engie | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Canadian Natural Resources M&A Activity
Canadian Natural Resources acquired XXX companies to date.
Last acquisition by Canadian Natural Resources was on XXXXXXXX, XXXXX. Canadian Natural Resources acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Canadian Natural Resources
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialCanadian Natural Resources Investment Activity
Canadian Natural Resources invested in XXX companies to date.
Canadian Natural Resources made its latest investment on XXXXXXXX, XXXXX. Canadian Natural Resources invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Canadian Natural Resources
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Canadian Natural Resources
| When was Canadian Natural Resources founded? | Canadian Natural Resources was founded in 1973. |
| Where is Canadian Natural Resources headquartered? | Canadian Natural Resources is headquartered in Canada. |
| How many employees does Canadian Natural Resources have? | As of today, Canadian Natural Resources has over 10K employees. |
| Is Canadian Natural Resources publicly listed? | Yes, Canadian Natural Resources is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of Canadian Natural Resources? | Canadian Natural Resources trades under CNQ ticker. |
| When did Canadian Natural Resources go public? | Canadian Natural Resources went public in 1976. |
| Who are competitors of Canadian Natural Resources? | Canadian Natural Resources main competitors are China Yangtze Power, China Petroleum, Equinor, Williams Companies. |
| What is the current market cap of Canadian Natural Resources? | Canadian Natural Resources' current market cap is $96B. |
| What is the current revenue of Canadian Natural Resources? | Canadian Natural Resources' last 12 months revenue is $29B. |
| What is the current revenue growth of Canadian Natural Resources? | Canadian Natural Resources revenue growth (NTM/LTM) is 4%. |
| What is the current EV/Revenue multiple of Canadian Natural Resources? | Current revenue multiple of Canadian Natural Resources is 3.8x. |
| Is Canadian Natural Resources profitable? | Yes, Canadian Natural Resources is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Canadian Natural Resources? | Canadian Natural Resources' last 12 months EBITDA is $14B. |
| What is Canadian Natural Resources' EBITDA margin? | Canadian Natural Resources' last 12 months EBITDA margin is 50%. |
| What is the current EV/EBITDA multiple of Canadian Natural Resources? | Current EBITDA multiple of Canadian Natural Resources is 7.6x. |
| What is the current FCF of Canadian Natural Resources? | Canadian Natural Resources' last 12 months FCF is $6B. |
| What is Canadian Natural Resources' FCF margin? | Canadian Natural Resources' last 12 months FCF margin is 20%. |
| What is the current EV/FCF multiple of Canadian Natural Resources? | Current FCF multiple of Canadian Natural Resources is 19.1x. |
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