CNQ P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
CNQ's p/e ratio is right around its 10-year median of 12.0.
P/E ratio History
CNQ P/E ratio by year
Yearly range of CNQ’s p/e ratio from 2016 to 2026. Over the full period it ranged from -217.1 to 1,367.9, averaging 39.9.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 8.2 | 12.0 | 14.7 | 12.4 |
| 2025 | 9.0 | 13.0 | 16.5 | 9.0 |
| 2024 | 10.6 | 13.4 | 16.4 | 15.5 |
| 2023 | 7.2 | 10.6 | 14.3 | 13.3 |
| 2022 | 6.2 | 8.7 | 12.3 | 7.3 |
| 2021 | -112.4 | -11.8 | 24.6 | 8.2 |
| 2020 | -85.2 | 300.5 | 1,367.9 | -85.2 |
| 2019 | 7.5 | 12.8 | 17.9 | 9.3 |
| 2018 | 9.8 | 18.4 | 24.1 | 15.5 |
| 2017 | -217.1 | 48.2 | 373.8 | 21.0 |
| 2016 | -105.6 | -77.1 | -65.9 | -70.1 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is CNQ P/E ratio High or Low Right Now?
Canadian Natural Resources Limited's P/E ratio is currently 12.4, which is around average relative to its 10-year historical range. The 10-year median P/E ratio for CNQ is approximately 12.0. See all CNQ valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.