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CNQ vs. PBA: Canadian Natural Resources vs. Pembina Pipeline Stock Comparison

How do Canadian Natural Resources (CNQ) and Pembina Pipeline (PBA) 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 Pembina Pipeline (PBA) both belong to the Oil, Gas & Consumable Fuels industry, though CNQ is classified under Oil & Gas Exploration & Production while PBA falls under Oil & Gas Storage & Transportation.

Company profile comparison for Canadian Natural Resources (CNQ) and Pembina Pipeline (PBA)
Profile ItemCNQPBA
NameCanadian Natural Resources Ltd.Pembina Pipeline Corp.
Country/RegionCanadaCanada
GICS SectorEnergyEnergy
GICS Industry GroupEnergyEnergy
GICS IndustryOil, Gas & Consumable FuelsOil, Gas & Consumable Fuels
GICS Sub-IndustryOil & Gas Exploration & ProductionOil & Gas Storage & Transportation
Market Capitalization98.81 billion USD28.08 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateJuly 31, 2000October 6, 2010
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CNQ
PBA
GSPC
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA), 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 Pembina Pipeline (PBA). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Canadian Natural Resources (CNQ) and Pembina Pipeline (PBA). 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 Pembina Pipeline (PBA)
MetricCNQPBA
Total Return (1Y)56.47%35.84%
Total Return (3Y, Annualized)19.27%20.26%
Total Return (5Y, Annualized)23.01%12.46%

Risk Profile

Drawdown History

CNQ
PBA
GSPC
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA), 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 Pembina Pipeline (PBA). 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 Pembina Pipeline (PBA)
MetricCNQPBA
Volatility (1Y, Annualized)32.07%20.43%
Beta (5Y)0.480.59
Max Drawdown (5Y)-35.85%-27.37%
Avg. Volume (3M)6.32M993.87K

Risk-Adjusted Performance

Risk-Return Positioning

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CNQ and PBA 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 Pembina Pipeline (PBA)
MetricCNQPBA
Sharpe Ratio (1Y)1.631.54
Sortino Ratio (1Y)2.312.32

Profitability

ROE (TTM)

Canadian Natural Resources (CNQ) at 32.39% sits in the top ROE quartile, while Pembina Pipeline (PBA) at 12.10% 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%

PBA

Energy industry group

12.10%

Max
53.85%
Q3
24.79%
Median
12.85%
PBA
12.10%
Q1
2.03%
Min
-29.09%
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their ROE against the Energy industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Canadian Natural Resources (CNQ) at 29.51% and Pembina Pipeline (PBA) at 24.78% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

CNQ

Energy industry group

29.51%

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

PBA

Energy industry group

24.78%

Max
56.92%
PBA
24.78%
Q3
22.92%
Median
10.10%
Q1
0.07%
Min
-27.38%
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their net margin against the Energy industry group benchmark.

Operating Margin (TTM)

Both Canadian Natural Resources (CNQ) at 32.24% and Pembina Pipeline (PBA) at 32.63% 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%

PBA

Energy industry group

32.63%

Max
71.31%
Q3
33.75%
PBA
32.63%
Median
18.73%
Q1
6.94%
Min
-24.52%
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their operating margin against the Energy industry group benchmark.

Profitability Metrics

Profitability metrics for Canadian Natural Resources (CNQ) and Pembina Pipeline (PBA)
MetricCNQPBA
ROE (TTM)32.39%12.10%
ROA (TTM)9.97%4.65%
Net Margin (TTM)29.51%24.78%
Operating Margin (TTM)32.24%32.63%
Gross Margin (TTM)52.92%38.23%

Growth

Revenue Growth

Both Canadian Natural Resources (CNQ) at 6.40% and Pembina Pipeline (PBA) at 5.34% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): 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 Pembina Pipeline (PBA) at -11.33% is closer to the peer norm — faster per-share earnings growth for CNQ.

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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Canadian Natural Resources (CNQ) and Pembina Pipeline (PBA)
MetricCNQPBA
Revenue Growth (YoY)6.40%5.34%
Revenue Growth (3Y CAGR)-3.75%-12.50%
EPS Growth (YoY)81.05%-11.33%
EPS Growth (3Y CAGR)2.73%-19.61%

Financial Strength

Current Ratio (MRQ)

Canadian Natural Resources (CNQ) at 0.99 keeps current ratio within its industry’s typical mid-range, while Pembina Pipeline (PBA) at 0.75 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for PBA.

CNQ

Energy industry group

0.99

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

PBA

Energy industry group

0.75

Max
3.64
Q3
2.21
Median
1.41
Q1
0.88
PBA
0.75
Min
0.24
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their current ratio against the Energy industry group benchmark.

Debt / Equity (MRQ)

Both Canadian Natural Resources (CNQ) at 0.42 and Pembina Pipeline (PBA) at 0.80 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CNQ

Energy industry group

0.42

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

PBA

Energy industry group

0.80

Max
1.75
Q3
0.93
PBA
0.80
Median
0.54
Q1
0.30
Min
0.00
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): 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 Pembina Pipeline (PBA)
MetricCNQPBA
Current Ratio (MRQ)0.990.75
Debt / Equity (MRQ)0.420.80
Net Debt / EBITDA0.673.74

Dividends

Dividend Yield (TTM)

Both Canadian Natural Resources (CNQ) at 5.03% and Pembina Pipeline (PBA) at 6.13% offer top-quartile dividend income relative to share price within their industries.

CNQ

Energy industry group

5.03%

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

PBA

Energy industry group

6.13%

Max
8.57%
PBA
6.13%
Q3
3.58%
Median
1.71%
Q1
0.00%
Min
0.00%
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their dividend yield against the Energy industry group benchmark.

Dividend Payout Ratio (TTM)

Canadian Natural Resources (CNQ) at 36.37% pays out a band-typical share of earnings, while Pembina Pipeline (PBA) at 86.79% distributes more than its industry norm — less retained, thinner cover.

CNQ

Energy industry group

36.37%

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

PBA

Energy industry group

86.79%

Max
133.24%
PBA
86.79%
Q3
53.31%
Median
25.24%
Q1
0.00%
Min
0.00%
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their payout ratio against the Energy industry group benchmark.

Dividend Metrics

Dividend metrics for Canadian Natural Resources (CNQ) and Pembina Pipeline (PBA)
MetricCNQPBA
Dividend Yield (TTM)5.03%6.13%
Dividend Payout Ratio (TTM)36.37%86.79%

Valuation

P/E Ratio (TTM)

Both Canadian Natural Resources (CNQ) at 9.95 and Pembina Pipeline (PBA) at 20.12 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

PBA

Energy industry group

20.12

Max
39.54
Q3
21.72
PBA
20.12
Median
12.19
Q1
7.71
Min
2.99
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their P/E ratio against the Energy industry group benchmark.

P/S Ratio (TTM)

Canadian Natural Resources (CNQ) at 2.06 is priced about in line with its industry on P/S ratio, while Pembina Pipeline (PBA) at 3.36 sits in the pricier quartile — PBA costs more per dollar of sales.

CNQ

Energy industry group

2.06

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

PBA

Energy industry group

3.36

Max
5.40
PBA
3.36
Q3
2.85
Median
1.69
Q1
0.88
Min
0.00
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their P/S ratio against the Energy industry group benchmark.

P/B Ratio (MRQ)

Both Canadian Natural Resources (CNQ) at 2.97 and Pembina Pipeline (PBA) at 2.55 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

CNQ

Energy industry group

2.97

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

PBA

Energy industry group

2.55

Max
4.21
PBA
2.55
Q3
2.38
Median
1.51
Q1
1.08
Min
0.01
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Canadian Natural Resources (CNQ) vs. Pembina Pipeline (PBA): A comparison of their P/B ratio against the Energy industry group benchmark.

Valuation Metrics

Valuation metrics for Canadian Natural Resources (CNQ) and Pembina Pipeline (PBA)
MetricCNQPBA
P/E Ratio (TTM)9.9520.12
P/S Ratio (TTM)2.063.36
P/B Ratio (MRQ)2.972.55
Free Cash Flow Yield (TTM)12.33%5.53%