CNQ vs. EC: Canadian Natural Resources vs. Ecopetrol Stock Comparison

November 11, 2026

How do Canadian Natural Resources (CNQ) and Ecopetrol (EC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Canadian Natural Resources (CNQ) and Ecopetrol (EC) both belong to the Oil, Gas & Consumable Fuels industry, though CNQ is classified under Oil & Gas Exploration & Production while EC falls under Integrated Oil & Gas.

Canadian Natural Resources (CNQ) trades as ordinary local shares, while Ecopetrol (EC) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Profile Item	CNQ	EC
Name	Canadian Natural Resources Ltd.	Ecopetrol S.A. Sponsored ADR
Country/Region	Canada	Colombia
GICS Sector	Energy	Energy
GICS Industry Group	Energy	Energy
GICS Industry	Oil, Gas & Consumable Fuels	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Oil & Gas Exploration & Production	Integrated Oil & Gas
Market Capitalization	98.81 billion USD	31.97 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	July 31, 2000	September 18, 2008
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

CNQ

GSPC

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Canadian Natural Resources (CNQ) and Ecopetrol (EC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Canadian Natural Resources (CNQ) and Ecopetrol (EC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Metric	CNQ	EC
Total Return (1Y)	56.47%	64.75%
Total Return (3Y, Annualized)	19.27%	23.69%
Total Return (5Y, Annualized)	23.01%	14.32%

Risk Profile

Drawdown History

CNQ

GSPC

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Canadian Natural Resources (CNQ) and Ecopetrol (EC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Metric	CNQ	EC
Volatility (1Y, Annualized)	32.07%	40.27%
Beta (5Y)	0.48	0.45
Max Drawdown (5Y)	-35.85%	-48.60%
Avg. Volume (3M)	6.32M	1.62M

Risk-Adjusted Performance

Risk-Return Positioning

CNQ and EC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Metric	CNQ	EC
Sharpe Ratio (1Y)	1.63	1.50
Sortino Ratio (1Y)	2.31	2.38

Profitability

ROE (TTM)

Canadian Natural Resources (CNQ) at 32.39% sits in the top ROE quartile, while Ecopetrol (EC) at 15.95% is closer to the peer norm — stronger capital efficiency for CNQ.

CNQ

Energy industry group

32.39%

Max: 53.85%
CNQ: 32.39%
Q3: 24.79%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

EC

Energy industry group

15.95%

Max: 53.85%
Q3: 24.79%
EC: 15.95%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their ROE against the Energy industry group benchmark.

Net Margin (TTM)

Canadian Natural Resources (CNQ) at 29.51% retains a top-quartile share of revenue as profit, ahead of Ecopetrol (EC) at 10.23%, which keeps about the industry-typical share.

CNQ

Energy industry group

29.51%

Max: 56.92%
CNQ: 29.51%
Q3: 22.92%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

EC

Energy industry group

10.23%

Max: 56.92%
Q3: 22.92%
EC: 10.23%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their net margin against the Energy industry group benchmark.

Operating Margin (TTM)

Canadian Natural Resources (CNQ) at 32.24% runs core operations around its industry’s norm, while Ecopetrol (EC) at 0.00% operates in the bottom quartile.

CNQ

Energy industry group

32.24%

Max: 71.31%
Q3: 33.75%
CNQ: 32.24%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

EC

Energy industry group

0.00%

Max: 71.31%
Q3: 33.75%
Median: 18.73%
Q1: 6.94%
EC: 0.00%
Min: -24.52%

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their operating margin against the Energy industry group benchmark.

Profitability Metrics

Profitability metrics for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Metric	CNQ	EC
ROE (TTM)	32.39%	15.95%
ROA (TTM)	9.97%	7.31%
Net Margin (TTM)	29.51%	10.23%
Operating Margin (TTM)	32.24%	0.00%
Gross Margin (TTM)	52.92%	37.10%

Growth

Revenue Growth

Canadian Natural Resources (CNQ) at 6.40% is around its peer norm for revenue growth, while Ecopetrol (EC) at -10.23% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Canadian Natural Resources (CNQ) at 81.05% sits in the top EPS growth quartile, while Ecopetrol (EC) at -39.54% is closer to the peer norm — faster per-share earnings growth for CNQ.

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Metric	CNQ	EC
Revenue Growth (YoY)	6.40%	-10.23%
Revenue Growth (3Y CAGR)	-3.75%	-9.15%
EPS Growth (YoY)	81.05%	-39.54%
EPS Growth (3Y CAGR)	2.73%	-35.34%

Financial Strength

Current Ratio (MRQ)

Both Canadian Natural Resources (CNQ) at 0.99 and Ecopetrol (EC) at 1.51 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

CNQ

Energy industry group

0.99

Max: 3.64
Q3: 2.21
Median: 1.41
CNQ: 0.99
Q1: 0.88
Min: 0.24

EC

Energy industry group

1.51

Max: 3.64
Q3: 2.21
EC: 1.51
Median: 1.41
Q1: 0.88
Min: 0.24

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their current ratio against the Energy industry group benchmark.

Debt / Equity (MRQ)

Canadian Natural Resources (CNQ) at 0.42 carries an industry-typical debt-to-equity mix, while Ecopetrol (EC) at 0.96 uses more debt funding than most peers.

CNQ

Energy industry group

0.42

Max: 1.75
Q3: 0.93
Median: 0.54
CNQ: 0.42
Q1: 0.30
Min: 0.00

EC

Energy industry group

0.96

Max: 1.75
EC: 0.96
Q3: 0.93
Median: 0.54
Q1: 0.30
Min: 0.00

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their debt-to-equity ratio against the Energy industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Metric	CNQ	EC
Current Ratio (MRQ)	0.99	1.51
Debt / Equity (MRQ)	0.42	0.96
Net Debt / EBITDA	0.67	--

Dividends

Dividend Yield (TTM)

Ecopetrol (EC) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Canadian Natural Resources (CNQ) reports a yield of 5.03%, ranking against industry peers normally.

CNQ

Energy industry group

5.03%

Max: 8.57%
CNQ: 5.03%
Q3: 3.58%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

EC

Energy industry group

0.00%

Max: 8.57%
Q3: 3.58%
Median: 1.71%
EC: 0.00%
Q1: 0.00%
Min: 0.00%

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their dividend yield against the Energy industry group benchmark.

Dividend Payout Ratio (TTM)

Both Canadian Natural Resources (CNQ) at 36.37% and Ecopetrol (EC) at 36.09% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

CNQ

Energy industry group

36.37%

Max: 133.24%
Q3: 53.31%
CNQ: 36.37%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

EC

Energy industry group

36.09%

Max: 133.24%
Q3: 53.31%
EC: 36.09%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their payout ratio against the Energy industry group benchmark.

Dividend Metrics

Dividend metrics for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Metric	CNQ	EC
Dividend Yield (TTM)	5.03%	0.00%
Dividend Payout Ratio (TTM)	36.37%	36.09%

Valuation

P/E Ratio (TTM)

Both Canadian Natural Resources (CNQ) at 9.95 and Ecopetrol (EC) at 8.45 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CNQ

Energy industry group

9.95

Max: 39.54
Q3: 21.72
Median: 12.19
CNQ: 9.95
Q1: 7.71
Min: 2.99

EC

Energy industry group

8.45

Max: 39.54
Q3: 21.72
Median: 12.19
EC: 8.45
Q1: 7.71
Min: 2.99

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their P/E ratio against the Energy industry group benchmark.

P/S Ratio (TTM)

A sales-based read is only available for Canadian Natural Resources (CNQ), whose P/S ratio of 2.06 ranks against industry peers; Ecopetrol (EC) reports no figure this period.

CNQ

Energy industry group

2.06

Max: 5.40
Q3: 2.85
CNQ: 2.06
Median: 1.69
Q1: 0.88
Min: 0.00

EC

Energy industry group

Max: 5.40
Q3: 2.85
Median: 1.69
Q1: 0.88
Min: 0.00
EC: --

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): EC does not report P/S ratio, so it has no value marker; CNQ is benchmarked against the Energy industry group.

P/B Ratio (MRQ)

Ecopetrol (EC) at 0.01 looks cheap against book in the lower P/B ratio quartile, while Canadian Natural Resources (CNQ) at 2.97 carries a premium in the upper quartile — a clear price-to-book gap.

CNQ

Energy industry group

2.97

Max: 4.21
CNQ: 2.97
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

EC

Energy industry group

0.01

Max: 4.21
Q3: 2.38
Median: 1.51
Q1: 1.08
EC: 0.01
Min: 0.01

Canadian Natural Resources (CNQ) vs. Ecopetrol (EC): A comparison of their P/B ratio against the Energy industry group benchmark.

Valuation Metrics

Valuation metrics for Canadian Natural Resources (CNQ) and Ecopetrol (EC)
Metric	CNQ	EC
P/E Ratio (TTM)	9.95	8.45
P/S Ratio (TTM)	2.06	--
P/B Ratio (MRQ)	2.97	0.01
Free Cash Flow Yield (TTM)	12.33%	38,006.99%