Valuation
26% of the score
96median 13
Canadian Natural Resources Limited is valued at 7x its operating profit, including debt: a low multiple.
25x
20x
15x
10x
6x
7x
Full points at 6x or less, none from 25xfull points
CNQCanadian Natural Resources Limited
$47.57+60% 1Y
$47.57
$29.3352 weeks$51.83
RyuScore
Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
RyuScore 82 out of 100, Strong
Today's price. Only valuation depends on it.
Strong. Canadian Natural Resources Limited scores higher than 96% of the 1,794 companies Ryufin scores.
Carried by valuation and return on new capital, held back by cycle position.
Energy median 60 · all companies 50
Return on capital
18% of the score
56median 34
Over 7 years the business earned 10% a year after tax on the capital it uses.
2%
8%
15%
25%
10%
None at 2% or less, full points from 25%full points
7 years agolatest 14%
Return on new capital
16% of the score
93median 49
For every dollar of operating profit earned over 6 years, yearly profit grew by 11 cents. New capital earned 50%, and 22% of profit went back into the business.
-5%
12%
11%
None at minus 5 cents, full points from 12 centsfull points
Capital allocation
14% of the score
95median 64
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countDown 2.4% a year over 5 years: buybacks
925%
-3%
-2.4%
0 pointsfull points
Assets against salesAssets grew 4.1% a year, sales 18%
10012%
-2%
-14%
0 pointsfull points
Cycle position
12% of the score
43median 62
Today's operating margin of 36% is 1.28x its normal 28%: above its usual level. Normal is half the 10 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
1.3x
A trough earns points, a peak costs themfull points
10 years agonow 36%
Balance sheet
8% of the score
98median 50
What the debt weighs against the profit that has to carry it.
Net debt to EBITDA0.7x a year of EBITDA
954.5x
0.5x
0.7x
0 pointsfull points
Interest coverOperating profit covers interest 14x
1001.5x
12x
13.5x
0 pointsfull points
Earnings quality
6% of the score
92median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
Cash against profitOperating cash flow was 1.62x profit over 3 years
1000.7x
1x
1.3x
1.6x
0 pointsfull points
AccrualsCash ran ahead of profit by 4.8% of assets
848%
0%
-8%
-4.8%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2025-12-31, latest annual report FY2025.