TSX:CNQ Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Feb '26 Feb 20, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Market Capitalization	121,299	93,660	94,051	83,238	62,917	36,129
Market Cap Growth	29.45%	-0.42%	12.99%	32.30%	74.15%	-27.37%
Enterprise Value	139,904	104,456	106,490	96,749	80,097	59,192
Last Close Price	58.23	42.10	39.31	32.47	21.69	11.88
PE Ratio	18.40	15.34	11.42	7.61	8.21	-
Forward PE	22.04	11.75	10.35	7.40	7.49	58.45
PS Ratio	3.14	2.63	2.62	1.97	2.09	2.14
PB Ratio	3.00	2.37	2.36	2.18	1.70	1.12
P/TBV Ratio	3.00	2.37	2.36	2.18	1.70	1.12
P/FCF Ratio	14.92	11.70	12.64	5.84	6.30	16.77
P/OCF Ratio	8.21	7.00	7.61	4.29	4.35	7.66
PEG Ratio	-	5.12	5.12	5.12	5.12	5.12
EV/Sales Ratio	3.62	2.93	2.96	2.29	2.67	3.50
EV/EBITDA Ratio	8.56	6.40	6.45	4.65	5.20	10.18
EV/EBIT Ratio	15.77	10.75	10.20	6.54	8.45	-
EV/FCF Ratio	17.21	13.05	14.31	6.79	8.02	27.48
Debt / Equity Ratio	0.46	0.51	0.31	0.34	0.44	0.72
Debt / EBITDA Ratio	1.15	1.22	0.74	0.62	1.06	3.98
Debt / FCF Ratio	2.30	2.53	1.66	0.91	1.63	10.74
Net Debt / Equity Ratio	0.46	0.51	0.28	0.30	0.41	0.70
Net Debt / EBITDA Ratio	1.16	1.23	0.66	0.56	0.99	3.90
Net Debt / FCF Ratio	2.29	2.52	1.47	0.81	1.53	10.52
Asset Turnover	0.48	0.44	0.47	0.55	0.40	0.22
Inventory Turnover	7.46	7.49	9.24	11.11	10.55	9.74
Quick Ratio	0.46	0.44	0.62	0.57	0.56	0.59
Current Ratio	0.86	0.77	0.96	0.82	0.80	0.86
Return on Equity (ROE)	16.56%	15.40%	21.11%	29.12%	22.11%	-1.29%
Return on Assets (ROA)	6.90%	7.53%	8.58%	12.10%	7.80%	-0.36%
Return on Invested Capital (ROIC)	12.46%	13.34%	16.82%	23.17%	13.68%	-0.78%
Return on Capital Employed (ROCE)	11.50%	12.80%	15.20%	21.90%	13.70%	-0.60%
Earnings Yield	5.49%	6.52%	8.75%	13.14%	12.18%	-1.20%
FCF Yield	6.70%	8.54%	7.92%	17.13%	15.87%	5.96%
Dividend Yield	4.04%	5.08%	4.71%	4.77%	4.61%	7.16%
Payout Ratio	71.45%	72.54%	47.26%	29.46%	28.31%	-
Buyback Yield / Dilution	2.31%	2.90%	4.09%	3.15%	-0.40%	0.95%
Total Shareholder Return	6.34%	7.97%	8.80%	7.92%	4.20%	8.11%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.