The WACC of Canadian Natural Resources Ltd (CNQ.TO) is 6.5%.
| Range | Selected | |
| Cost of equity | 5.90% - 7.90% | 6.90% |
| Tax rate | 19.70% - 21.20% | 20.45% |
| Cost of debt | 4.00% - 4.50% | 4.25% |
| WACC | 5.6% - 7.4% | 6.5% |
| Category | Low | High |
| Long-term bond rate | 3.2% | 3.7% |
| Equity market risk premium | 5.1% | 6.1% |
| Adjusted beta | 0.53 | 0.61 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 5.90% | 7.90% |
| Tax rate | 19.70% | 21.20% |
| Debt/Equity ratio | 0.13 | 0.13 |
| Cost of debt | 4.00% | 4.50% |
| After-tax WACC | 5.6% | 7.4% |
| Selected WACC | 6.5% | |