CNQCanadian Natural Resources Limited
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (AA) and typical volatility.
Rock-solid balance sheet, low leverage. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -78% · now 4% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can CNQ take a bad year?
The deepest fall in CNQ's price history on file is −78%; it is 4.2% below its high today.
Net debt · as at FY2025 · debt less the cash on hand
- Debt / equity
- 0.38×
Debt / equity
- Annualised volatility
- 31%
Annualised volatility · about as steady as the market itself
- Worst drawdown on file
- −78%
Worst drawdown on file · −4.2% today
Details›
- Total debtFY2025
- $17.1B
- Cash and short-term investments
- $673M
- Net debt
- $16.4B
- Debt / equity
- 0.38×
- Annualised volatilitytwo years of daily moves
- 31%
- Worst drawdown on file
- −78%
- Below its 52-week high
- 4.2%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.