Canadian Natural Resources Ltd
NYSE: CNQ · ENERGY · OIL & GAS E&P
Updated 2026-04-30
Canadian Natural Resources Ltd (CNQ) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for CNQ.
Valued
Valuation reasonably reflects current fundamentals. Limited margin of safety at these levels.
CNQ historical valuation range
Where current P/E sits in CNQ's own 5Y range.
CNQ intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
CNQ valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 11.73x
P/S Ratio — History
Current: 2.38x
Is CNQ overvalued in 2026?
Canadian Natural Resources Ltd (CNQ) currently trades at $47.70 per share with a market capitalization of $92,321,382,000.00. Based on our multi-factor framework, the stock trades at a fair valuation with a Smart Value Score of 69/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 11.7x, above its 5-year median of 11.5x. The PEG ratio of 3.42 indicates the price has run ahead of the underlying growth rate.
Looking at its own history, CNQ is currently trading more expensive than 62% of the last 5Y on P/E. This places it in the 62th percentile of its historical range, a reasonable but unremarkable position.
Our discounted cash flow model estimates CNQ's intrinsic value at $91.17 per share, against the current market price of $47.70. This implies a margin of safety of +55.43%. A meaningful cushion exists against model error, making this a reasonable risk-adjusted entry.
Financial quality is a concern. The Piotroski F-Score of 0/9 flags weakening fundamentals that deserve closer scrutiny before the valuation case can be fully trusted.
Bottom line: CNQ trades at a fair valuation on our framework, with a Smart Value Score of 69/100. The valuation is defensible but offers no obvious bargain. Patience or a better entry price may reward disciplined buyers.
Frequently asked questions
Is CNQ overvalued in 2026?
Based on a Smart Value Score of 69/100, CNQ is fairly valued. Price reasonably reflects current fundamentals with limited cushion in either direction.
What is CNQ's fair value?
Our DCF model estimates CNQ's intrinsic value at $91.17 per share, versus the current price of $47.70. This produces a margin of safety of +55.43%.
What P/E ratio does CNQ trade at?
CNQ trades at a P/E of 11.7x on trailing twelve-month earnings, compared to its 5-year median of 11.5x.
Is CNQ a buy based on valuation?
WallStSmart does not issue buy or sell recommendations. Our Smart Value Score of 69/100 reflects the combined read on growth, quality, and price. The profile is balanced. Best suited for investors with an existing thesis.
How does CNQ's valuation compare to its history?
On P/E, CNQ currently sits in the 62th percentile of its own 5Y range. That is above its long-run median relative to where it has traded over the period.
What is CNQ's Smart Value Score?
CNQ's Smart Value Score is 69/100. The Smart Value Score is a proprietary WallStSmart metric blending growth quality, financial health, and valuation attractiveness into a single 0-100 read. Scores above 75 are rare and indicate strong multi-factor alignment.