What is the intrinsic value of CNQ.TO?

As of 2026-06-24, the Intrinsic Value of Canadian Natural Resources Ltd (CNQ.TO) is 84.06 CAD. This CNQ.TO valuation is based on the model Discounted Cash Flows (Growth Exit 5Y). With the current market price of 58.21 CAD, the upside of Canadian Natural Resources Ltd is 44.40%.

The range of the Intrinsic Value is 58.28 - 145.46 CAD

Is CNQ.TO undervalued or overvalued?

Based on its market price of 58.21 CAD and our intrinsic valuation, Canadian Natural Resources Ltd (CNQ.TO) is undervalued by 44.40%.

	Range	Selected	Upside
a
DCF (Growth 5y)	58.28 - 145.46	84.06	44.4%
DCF (Growth 10y)	69.05 - 168.67	98.62	69.4%
DCF (EBITDA 5y)	56.81 - 80.29	68.97	18.5%
DCF (EBITDA 10y)	67.91 - 104.12	85.05	46.1%
Fair Value	116.63 - 116.63	116.63	100.36%
P/E	59.44 - 79.78	67.70	16.3%
EV/EBITDA	40.93 - 56.34	51.32	-11.8%
EPV	70.22 - 137.93	104.07	78.8%
DDM - Stable	35.85 - 113.21	74.53	28.0%
DDM - Multi	54.13 - 134.14	77.23	32.7%