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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	138,044	96,844	93,660	94,051	83,238	62,917
Market Cap Growth	49.36%	3.40%	-0.42%	12.99%	32.30%	74.15%
Enterprise Value	157,094	115,449	104,456	106,490	96,749	80,097
Last Close Price	66.15	46.07	41.72	38.96	32.18	21.49
PE Ratio	12.82	8.95	15.34	11.42	7.61	8.21
Forward PE	19.11	14.69	11.75	10.35	7.40	7.49
PS Ratio	3.56	2.50	2.63	2.62	1.97	2.09
PB Ratio	3.11	2.18	2.37	2.36	2.18	1.70
P/TBV Ratio	3.11	2.18	2.37	2.36	2.18	1.70
P/FCF Ratio	16.60	11.65	11.70	12.64	5.84	6.30
P/OCF Ratio	9.14	6.41	7.00	7.61	4.29	4.35
PEG Ratio	-	2.56	2.56	-	0.42	-
EV/Sales Ratio	4.05	2.98	2.93	2.96	2.29	2.67
EV/EBITDA Ratio	9.70	7.29	6.40	6.34	4.65	5.20
EV/EBIT Ratio	19.25	14.15	10.75	10.18	6.54	8.45
EV/FCF Ratio	18.89	13.88	13.05	14.31	6.79	8.02
Debt / Equity Ratio	0.45	0.45	0.51	0.31	0.34	0.44
Debt / EBITDA Ratio	1.22	1.22	1.22	0.73	0.62	1.06
Debt / FCF Ratio	2.37	2.37	2.53	1.66	0.91	1.63
Net Debt / Equity Ratio	0.43	0.43	0.51	0.28	0.30	0.41
Net Debt / EBITDA Ratio	1.20	1.20	1.23	0.65	0.56	0.99
Net Debt / FCF Ratio	2.29	2.29	2.52	1.47	0.81	1.53
Asset Turnover	0.44	0.44	0.44	0.47	0.55	0.40
Inventory Turnover	7.38	7.38	7.49	9.24	11.11	10.55
Quick Ratio	0.58	0.58	0.44	0.62	0.57	0.56
Current Ratio	0.95	0.95	0.77	0.96	0.82	0.80
Return on Equity (ROE)	25.81%	25.81%	15.40%	21.11%	29.12%	22.11%
Return on Assets (ROA)	5.76%	5.76%	7.53%	8.60%	12.10%	7.80%
Return on Invested Capital (ROIC)	10.89%	10.84%	13.34%	16.87%	23.17%	13.68%
Return on Capital Employed (ROCE)	9.70%	9.70%	12.80%	15.30%	21.90%	13.70%
Earnings Yield	7.84%	11.17%	6.52%	8.75%	13.14%	12.18%
FCF Yield	6.02%	8.59%	8.54%	7.92%	17.13%	15.87%
Dividend Yield	3.78%	5.10%	5.12%	4.75%	4.82%	4.65%
Payout Ratio	45.02%	45.02%	72.54%	47.26%	29.46%	28.31%
Buyback Yield / Dilution	1.99%	1.99%	2.90%	4.09%	3.15%	-0.40%
Total Shareholder Return	5.77%	7.09%	8.02%	8.84%	7.97%	4.24%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.