Canadian Natural Resources (CNQ) EV to EBITDA (2010 - 2026)
Canadian Natural Resources' (CNQ) quarterly EV to EBITDA came in at 9.2 in Q2 2026, down 35.68% year-over-year from 14.31 in Q2 2025, and down 53.42% quarter-over-quarter from 19.76 in Q1 2026.
Analysis
Canadian Natural Resources (CNQ) EV to EBITDA (2010 - 2026) Analysis & Trends
Canadian Natural Resources has disclosed EV to EBITDA across 17 years of filings, most recently posting 9.2 for Q2 2026.
- In Q2 2026, EV to EBITDA fell 35.68% year-over-year to 9.2; the TTM figure through Jun 2026 stood at 12.44 (up 274.18% YoY), while the FY2025 annual figure was 23.93, up 465.95% from the prior year.
- EV to EBITDA came in at 9.2 for Q2 2026 at Canadian Natural Resources, down from 19.76 in the prior quarter.
- In the past five years, EV to EBITDA ranged from a high of 19.76 in Q1 2026 to a low of 5.73 in Q4 2025.
- Average EV to EBITDA over 5 years is 9.91, with a median of 10.3 recorded in 2022.
- Year-over-year, EV to EBITDA soared 256.24% in 2024 and sank 139.79% in 2025.
- Over 5 years, EV to EBITDA stood at 2.57 in 2022, then soared by 57.09% to 4.04 in 2023, then soared by 256.24% to 14.41 in 2024, then slumped by 139.79% to 5.73 in 2025, then surged by 260.53% to 9.2 in 2026.
- Per Business Quant data, the three most recent EV to EBITDA figures were 9.2 in Q2 2026, 19.76 in Q1 2026, and 5.73 in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Conocophillips | 166.07 Bn | 158.38 Bn | 12.81 Bn |
| 2 | Canadian Natural Resources | 107.37 Bn | 105.48 Bn | 8.84 Bn |
| 3 | Eog Resources | 77.26 Bn | 72.36 Bn | - |
| 4 | Diamondback Energy | 56.93 Bn | 56.47 Bn | 5.55 Bn |
| 5 | Devon Energy | 45.90 Bn | 44.89 Bn | 6.02 Bn |
| 6 | Expand Energy | 23.03 Bn | 21.76 Bn | 2.33 Bn |
| 7 | Permian Resources | 19.81 Bn | 19.55 Bn | - |
| 8 | Ovintiv | 18.04 Bn | 17.15 Bn | 2.83 Bn |
| 9 | Apa | 15.80 Bn | 15.36 Bn | 2.28 Bn |
| 10 | Antero Resources | 12.13 Bn | 11.56 Bn | 1.56 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.20 |
| Mar 31, 2026 | 19.76 |
| Dec 31, 2025 | -5.73 |
| Sep 30, 2025 | 13.90 |
| Jun 30, 2025 | 14.31 |
| Mar 31, 2025 | 11.34 |
| Dec 31, 2024 | 14.41 |
| Sep 30, 2024 | 14.08 |
| Jun 30, 2024 | 15.54 |
| Mar 31, 2024 | 11.20 |
| Dec 31, 2023 | 4.04 |
| Sep 30, 2023 | 7.38 |
| Jun 30, 2023 | 14.89 |
| Mar 31, 2023 | 7.90 |
| Dec 31, 2022 | 2.57 |
| Sep 30, 2022 | 9.40 |
| Jun 30, 2022 | 7.11 |
| Mar 31, 2022 | 7.04 |
| Dec 31, 2021 | 8.61 |
| Sep 30, 2021 | 9.83 |