The WACC of Canadian Natural Resources Ltd (CNQ.TO) is 7.6%.
| Range | Selected | |
| Cost of equity | 6.50% - 9.60% | 8.05% |
| Tax rate | 19.70% - 21.20% | 20.45% |
| Cost of debt | 4.00% - 4.50% | 4.25% |
| WACC | 6.1% - 9.0% | 7.6% |
| Category | Low | High |
| Long-term bond rate | 3.3% | 3.8% |
| Equity market risk premium | 5.1% | 6.1% |
| Adjusted beta | 0.63 | 0.88 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 6.50% | 9.60% |
| Tax rate | 19.70% | 21.20% |
| Debt/Equity ratio | 0.12 | 0.12 |
| Cost of debt | 4.00% | 4.50% |
| After-tax WACC | 6.1% | 9.0% |
| Selected WACC | 7.6% | |