Canadian Natural Resources (CNQ) EV to CFO (2010 - 2026)
Canadian Natural Resources' (CNQ) EV to CFO stood at 6.30 in Q3 2026, down 0.9% from 6.36 a year earlier but up 1.1% 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 6.11 as of Sep 30, 2026, down 3.6% year-over-year; for FY2025, it was 6.47, down 2.4% from FY2024.
- Across earlier years, EV to CFO came in at 6.63 in FY2024 (-12.8%), 7.60 in FY2023 (+87.3%), 4.06 in FY2022 (-1.8%) and 4.13 in FY2021 (-47.6%).
- Quarterly EV to CFO has ranged from 3.53 in Q3 2022 to 9.88 in Q1 2026 over the past five years.
- On a year-over-year basis, EV to CFO rose in 1 of the last eight quarters, with growth averaging 1.7%.
- Peak year-over-year performance for EV to CFO in the last five years was growth of 125.1% in Q3 2023, against a decline of 46.9% in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 6.24 (Q2 2026), 9.88 (Q1 2026) and 6.48 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 696.20 Bn | 661.07 Bn | 47.44 Bn |
| 2 | Shell | 563.81 Bn | 425.16 Bn | - |
| 3 | Chevron | 432.14 Bn | 404.83 Bn | 31.26 Bn |
| 4 | TotalEnergies SE | 200.31 Bn | 75.66 Bn | 31.61 Bn |
| 5 | Eni Spa | 181.16 Bn | 124.34 Bn | - |
| 6 | Conocophillips | 168.32 Bn | 137.35 Bn | 12.63 Bn |
| 7 | Equinor Asa | 107.41 Bn | 20.34 Bn | 4.49 Bn |
| 8 | Canadian Natural Resources | 103.54 Bn | 97.44 Bn | 9.35 Bn |
| 9 | Phillips 66 | 103.32 Bn | 88.28 Bn | 10.69 Bn |
| 10 | Suncor Energy | 83.45 Bn | 69.02 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 6.30 |
| Jun 30, 2026 | 6.24 |
| 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 | 6.51 |
| 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 |
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();