Canadian Natural Resources (CNQ) EV to CFO (2010 - 2026)
Canadian Natural Resources' (CNQ) EV to CFO stood at 6.23 in the quarter ended Jun 30, 2026, down 6.6% from 6.67 a year earlier and down 36.9% from the prior quarter.
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Analysis
Canadian Natural Resources (CNQ) EV to CFO (2010 - 2026) Analysis & Trends
On a TTM basis, Canadian Natural Resources' EV to CFO came in at 6.14 as of Jun 30, 2026, down 6.9% year-over-year; for the year ended Dec 31, 2025, it was 6.47, down 2.4% from the prior year.
- Across earlier years, EV to CFO came in at 6.63 in the year ended Dec 31, 2024 (-12.8%), 7.60 in the year ended Dec 31, 2023 (+87.4%), 4.06 in the year ended Dec 31, 2022 (-1.8%) and 4.13 in the year ended Dec 31, 2021 (-47.6%).
- The figure for the quarter ended Jun 30, 2026 is the lowest quarterly EV to CFO since the quarter ended Mar 31, 2025.
- On a year-over-year basis, EV to CFO rose in 1 of the last eight quarters, with an average decline of 0.4%.
- Peak year-over-year performance for EV to CFO in the last five years was growth of 125.2% in the quarter ended Sep 30, 2023, against a decline of 46.9% in the quarter ended Dec 31, 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 9.88 (quarter ended Mar 31, 2026), 6.48 (quarter ended Dec 31, 2025) and 6.36 (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Shell | 540.77 Bn | 451.32 Bn | 30.13 Bn |
| 2 | Chevron | 403.83 Bn | 381.62 Bn | 33.45 Bn |
| 3 | TotalEnergies SE | 188.75 Bn | 71.88 Bn | - |
| 4 | Eni Spa | 170.81 Bn | 120.33 Bn | - |
| 5 | Conocophillips | 150.42 Bn | 123.13 Bn | 12.81 Bn |
| 6 | Equinor Asa | 104.06 Bn | 50.12 Bn | - |
| 7 | Phillips 66 | 101.90 Bn | 90.89 Bn | 8.38 Bn |
| 8 | Canadian Natural Resources | 97.96 Bn | 94.91 Bn | - |
| 9 | Suncor Energy | 80.99 Bn | 66.79 Bn | - |
| 10 | Eog Resources | 72.25 Bn | 56.57 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 6.23 |
| Mar 31, 2026 | 9.88 |
| Dec 31, 2025 | 6.48 |
| Sep 30, 2025 | 6.36 |
| Jun 30, 2025 | 6.67 |
| Mar 31, 2025 | 6.09 |
| Dec 31, 2024 | 6.63 |
| Sep 30, 2024 | 6.52 |
| Jun 30, 2024 | 6.72 |
| Mar 31, 2024 | 7.88 |
| Dec 31, 2023 | 7.61 |
| Sep 30, 2023 | 7.95 |
| Jun 30, 2023 | 5.62 |
| Mar 31, 2023 | 4.48 |
| Dec 31, 2022 | 4.06 |
| Sep 30, 2022 | 3.53 |
| Jun 30, 2022 | 4.37 |
| Mar 31, 2022 | 6.01 |
| Dec 31, 2021 | 4.14 |
| Sep 30, 2021 | 4.74 |
API Access
Canadian Natural Resources EV to CFO API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=CNQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "ticker": "CNQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=CNQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();