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	Mar '26 Mar 11, 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 Cap	133,878	131,930	127,238	126,903	113,043	83,401
Market Cap Growth	53.75%	3.69%	0.26%	12.26%	35.54%	72.48%
Enterprise Value	152,928	153,065	149,444	138,378	126,171	100,635
PE Ratio	12.44	9.01	15.57	11.60	7.90	8.11
Forward PE	20.92	-	-	-	-	-
PS Ratio	3.45	2.50	2.62	2.59	1.96	2.04
PB Ratio	3.02	2.18	2.36	2.34	2.17	1.66
P/TBV Ratio	3.13	2.20	2.41	2.40	2.26	1.68
P/FCF Ratio	16.10	11.48	11.53	12.43	5.80	6.13
P/OCF Ratio	8.86	6.41	6.97	7.54	4.28	4.23
EV/Sales Ratio	3.95	2.90	3.07	2.82	2.19	2.46
EV/EBITDA Ratio	9.48	6.38	6.68	6.01	4.19	4.84
EV/EBIT Ratio	18.79	13.65	11.27	9.70	6.27	7.76
EV/FCF Ratio	18.39	13.32	13.54	13.56	6.48	7.39
Debt / Equity Ratio	0.36	0.36	0.42	0.25	0.29	0.37
Debt / EBITDA Ratio	0.94	0.94	1.15	0.64	0.52	0.96
Debt / FCF Ratio	1.97	1.97	2.33	1.44	0.80	1.47
Net Debt / Equity Ratio	0.36	0.36	0.47	0.24	0.26	0.37
Net Debt / EBITDA Ratio	0.91	0.91	1.14	0.56	0.45	0.90
Net Debt / FCF Ratio	1.89	1.89	2.31	1.25	0.70	1.37
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)	7.59%	7.59%	9.14%	11.14%	15.42%	9.68%
Return on Invested Capital (ROIC)	8.13%	8.13%	9.88%	12.21%	16.72%	10.25%
Return on Capital Employed (ROCE)	10.32%	10.32%	13.49%	15.39%	21.59%	13.64%
Earnings Yield	8.08%	11.10%	6.42%	8.62%	12.66%	12.34%
FCF Yield	6.21%	8.71%	8.67%	8.04%	17.23%	16.32%
Dividend Yield	3.90%	5.01%	4.69%	4.11%	5.77%	3.51%
Payout Ratio	45.02%	45.02%	72.54%	47.26%	45.04%	28.31%
Buyback Yield / Dilution	1.22%	1.22%	2.55%	3.16%	6.19%	1.43%
Total Shareholder Return	5.12%	6.23%	7.24%	7.27%	11.96%	4.94%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.