CNQ vs. EXE: Canadian Natural Resources vs. Expand Energy Stock Comparison
How do Canadian Natural Resources (CNQ) and Expand Energy (EXE) 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 Expand Energy (EXE) are both classified in the Oil & Gas Exploration & Production sub-industry within the broader Oil, Gas & Consumable Fuels industry, placing them in the closest GICS peer bucket.
Canadian Natural Resources (CNQ) has more than two decades of public-market history since July 31, 2000, whereas Expand Energy (EXE) listed on February 10, 2021 and has a much shorter record to draw on.
| Profile Item | CNQ | EXE |
|---|---|---|
| Name | Canadian Natural Resources Ltd. | Expand Energy Corp |
| Country/Region | Canada | United States |
| 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 | Oil & Gas Exploration & Production |
| Market Capitalization | 98.81 billion USD | 19.54 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | Nasdaq |
| Listing Date | July 31, 2000 | February 10, 2021 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | CNQ | EXE |
|---|---|---|
| Total Return (1Y) | 56.47% | -22.30% |
| Total Return (3Y, Annualized) | 19.27% | 4.93% |
| Total Return (5Y, Annualized) | 23.01% | 9.88% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | CNQ | EXE |
|---|---|---|
| Volatility (1Y, Annualized) | 32.07% | 29.72% |
| Beta (5Y) | 0.48 | 0.40 |
| Max Drawdown (5Y) | -35.85% | -30.37% |
| Avg. Volume (3M) | 6.32M | 3.10M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | CNQ | EXE |
|---|---|---|
| Sharpe Ratio (1Y) | 1.63 | -0.89 |
| Sortino Ratio (1Y) | 2.31 | -1.27 |
Profitability
ROE (TTM)
Canadian Natural Resources (CNQ) at 32.39% sits in the top ROE quartile, while Expand Energy (EXE) at 14.62% 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%
EXE
Energy industry group
14.62%
- Max
- 53.85%
- Q3
- 24.79%
- EXE
- 14.62%
- Median
- 12.85%
- Q1
- 2.03%
- Min
- -29.09%
Net Margin (TTM)
Canadian Natural Resources (CNQ) at 29.51% retains a top-quartile share of revenue as profit, ahead of Expand Energy (EXE) at 21.26%, 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%
EXE
Energy industry group
21.26%
- Max
- 56.92%
- Q3
- 22.92%
- EXE
- 21.26%
- Median
- 10.10%
- Q1
- 0.07%
- Min
- -27.38%
Operating Margin (TTM)
Both Canadian Natural Resources (CNQ) at 32.24% and Expand Energy (EXE) at 23.18% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.
CNQ
Energy industry group
32.24%
- Max
- 71.31%
- Q3
- 33.75%
- CNQ
- 32.24%
- Median
- 18.73%
- Q1
- 6.94%
- Min
- -24.52%
EXE
Energy industry group
23.18%
- Max
- 71.31%
- Q3
- 33.75%
- EXE
- 23.18%
- Median
- 18.73%
- Q1
- 6.94%
- Min
- -24.52%
Profitability Metrics
| Metric | CNQ | EXE |
|---|---|---|
| ROE (TTM) | 32.39% | 14.62% |
| ROA (TTM) | 9.97% | 8.17% |
| Net Margin (TTM) | 29.51% | 21.26% |
| Operating Margin (TTM) | 32.24% | 23.18% |
| Gross Margin (TTM) | 52.92% | 45.86% |
Growth
Revenue Growth
Expand Energy (EXE) at 188.77% clears its industry range for revenue growth, far stronger top-line momentum than Canadian Natural Resources (CNQ) at 6.40%, which is closer to a typical peer reading.
EPS Growth
Only one side can be read here: Canadian Natural Resources (CNQ) reports EPS growth of 81.05%, ranked against its industry; Expand Energy (EXE) has no EPS growth figure this period.
Growth Metrics
| Metric | CNQ | EXE |
|---|---|---|
| Revenue Growth (YoY) | 6.40% | 188.77% |
| Revenue Growth (3Y CAGR) | -3.75% | 2.13% |
| EPS Growth (YoY) | 81.05% | -- |
| EPS Growth (3Y CAGR) | 2.73% | -39.01% |
Financial Strength
Current Ratio (MRQ)
Both Canadian Natural Resources (CNQ) at 0.99 and Expand Energy (EXE) at 0.90 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
EXE
Energy industry group
0.90
- Max
- 3.64
- Q3
- 2.21
- Median
- 1.41
- EXE
- 0.90
- Q1
- 0.88
- Min
- 0.24
Debt / Equity (MRQ)
Expand Energy (EXE) at 0.24 keeps leverage in the lower industry quartile, while Canadian Natural Resources (CNQ) at 0.42 runs a more typical debt-to-equity mix.
CNQ
Energy industry group
0.42
- Max
- 1.75
- Q3
- 0.93
- Median
- 0.54
- CNQ
- 0.42
- Q1
- 0.30
- Min
- 0.00
EXE
Energy industry group
0.24
- Max
- 1.75
- Q3
- 0.93
- Median
- 0.54
- Q1
- 0.30
- EXE
- 0.24
- Min
- 0.00
Financial Strength Metrics
| Metric | CNQ | EXE |
|---|---|---|
| Current Ratio (MRQ) | 0.99 | 0.90 |
| Debt / Equity (MRQ) | 0.42 | 0.24 |
| Net Debt / EBITDA | 0.67 | 0.68 |
Dividends
Dividend Yield (TTM)
Canadian Natural Resources (CNQ) at 5.03% delivers top-quartile income for its industry, while Expand Energy (EXE) at 2.70% pays a more typical yield — both are credible income propositions, CNQ the richer one.
CNQ
Energy industry group
5.03%
- Max
- 8.57%
- CNQ
- 5.03%
- Q3
- 3.58%
- Median
- 1.71%
- Q1
- 0.00%
- Min
- 0.00%
EXE
Energy industry group
2.70%
- Max
- 8.57%
- Q3
- 3.58%
- EXE
- 2.70%
- Median
- 1.71%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Both Canadian Natural Resources (CNQ) at 36.37% and Expand Energy (EXE) at 19.84% 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%
EXE
Energy industry group
19.84%
- Max
- 133.24%
- Q3
- 53.31%
- Median
- 25.24%
- EXE
- 19.84%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | CNQ | EXE |
|---|---|---|
| Dividend Yield (TTM) | 5.03% | 2.70% |
| Dividend Payout Ratio (TTM) | 36.37% | 19.84% |
Valuation
P/E Ratio (TTM)
Expand Energy (EXE) at 7.30 sits in the cheaper P/E ratio quartile, while Canadian Natural Resources (CNQ) at 9.95 is closer to its industry’s usual earnings multiple — a discount for EXE, though growth and earnings durability still matter.
CNQ
Energy industry group
9.95
- Max
- 39.54
- Q3
- 21.72
- Median
- 12.19
- CNQ
- 9.95
- Q1
- 7.71
- Min
- 2.99
EXE
Energy industry group
7.30
- Max
- 39.54
- Q3
- 21.72
- Median
- 12.19
- Q1
- 7.71
- EXE
- 7.30
- Min
- 2.99
P/S Ratio (TTM)
On P/S ratio, both Canadian Natural Resources (CNQ) at 2.06 and Expand Energy (EXE) at 1.51 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.
CNQ
Energy industry group
2.06
- Max
- 5.40
- Q3
- 2.85
- CNQ
- 2.06
- Median
- 1.69
- Q1
- 0.88
- Min
- 0.00
EXE
Energy industry group
1.51
- Max
- 5.40
- Q3
- 2.85
- Median
- 1.69
- EXE
- 1.51
- Q1
- 0.88
- Min
- 0.00
P/B Ratio (MRQ)
Expand Energy (EXE) at 1.00 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
EXE
Energy industry group
1.00
- Max
- 4.21
- Q3
- 2.38
- Median
- 1.51
- Q1
- 1.08
- EXE
- 1.00
- Min
- 0.01
Valuation Metrics
| Metric | CNQ | EXE |
|---|---|---|
| P/E Ratio (TTM) | 9.95 | 7.30 |
| P/S Ratio (TTM) | 2.06 | 1.51 |
| P/B Ratio (MRQ) | 2.97 | 1.00 |
| Free Cash Flow Yield (TTM) | 12.33% | 7.00% |