CNQ vs. SHEL: Canadian Natural Resources vs. Shell Stock Comparison
How do Canadian Natural Resources (CNQ) and Shell (SHEL) 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 Shell (SHEL) both belong to the Oil, Gas & Consumable Fuels industry, though CNQ is classified under Oil & Gas Exploration & Production while SHEL falls under Integrated Oil & Gas.
Canadian Natural Resources (CNQ) trades as ordinary local shares, while Shell (SHEL) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.
| Profile Item | CNQ | SHEL |
|---|---|---|
| Name | Canadian Natural Resources Ltd. | Shell plc American Depositary Shares (Each representing two Ordinary shares) |
| Country/Region | Canada | United Kingdom |
| 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 | 280.59 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | July 31, 2000 | March 12, 1984 |
| Security Type | Common Stock | ADR |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | CNQ | SHEL |
|---|---|---|
| Total Return (1Y) | 56.47% | 36.30% |
| Total Return (3Y, Annualized) | 19.27% | 19.93% |
| Total Return (5Y, Annualized) | 23.01% | 21.02% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | CNQ | SHEL |
|---|---|---|
| Volatility (1Y, Annualized) | 32.07% | 23.60% |
| Beta (5Y) | 0.48 | 0.10 |
| Max Drawdown (5Y) | -35.85% | -25.04% |
| Avg. Volume (3M) | 6.32M | 6.01M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | CNQ | SHEL |
|---|---|---|
| Sharpe Ratio (1Y) | 1.63 | 1.36 |
| Sortino Ratio (1Y) | 2.31 | 1.99 |
Profitability
ROE (TTM)
Canadian Natural Resources (CNQ) at 32.39% sits in the top ROE quartile, while Shell (SHEL) at 17.43% 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%
SHEL
Energy industry group
17.43%
- Max
- 53.85%
- Q3
- 24.79%
- SHEL
- 17.43%
- 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 Shell (SHEL) at 10.18%, 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%
SHEL
Energy industry group
10.18%
- Max
- 56.92%
- Q3
- 22.92%
- SHEL
- 10.18%
- Median
- 10.10%
- Q1
- 0.07%
- Min
- -27.38%
Operating Margin (TTM)
Both Canadian Natural Resources (CNQ) at 32.24% and Shell (SHEL) at 18.76% 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%
SHEL
Energy industry group
18.76%
- Max
- 71.31%
- Q3
- 33.75%
- SHEL
- 18.76%
- Median
- 18.73%
- Q1
- 6.94%
- Min
- -24.52%
Profitability Metrics
| Metric | CNQ | SHEL |
|---|---|---|
| ROE (TTM) | 32.39% | 17.43% |
| ROA (TTM) | 9.97% | 7.67% |
| Net Margin (TTM) | 29.51% | 10.18% |
| Operating Margin (TTM) | 32.24% | 18.76% |
| Gross Margin (TTM) | 52.92% | 26.93% |
Growth
Revenue Growth
Both Canadian Natural Resources (CNQ) at 6.40% and Shell (SHEL) at -6.13% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.
EPS Growth
Canadian Natural Resources (CNQ) at 81.05% sits in the top EPS growth quartile, while Shell (SHEL) at 18.58% is closer to the peer norm — faster per-share earnings growth for CNQ.
Growth Metrics
| Metric | CNQ | SHEL |
|---|---|---|
| Revenue Growth (YoY) | 6.40% | -6.13% |
| Revenue Growth (3Y CAGR) | -3.75% | -11.21% |
| EPS Growth (YoY) | 81.05% | 18.58% |
| EPS Growth (3Y CAGR) | 2.73% | -19.31% |
Financial Strength
Current Ratio (MRQ)
Both Canadian Natural Resources (CNQ) at 0.99 and Shell (SHEL) at 1.38 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
SHEL
Energy industry group
1.38
- Max
- 3.64
- Q3
- 2.21
- Median
- 1.41
- SHEL
- 1.38
- Q1
- 0.88
- Min
- 0.24
Debt / Equity (MRQ)
Both Canadian Natural Resources (CNQ) at 0.42 and Shell (SHEL) at 0.38 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
SHEL
Energy industry group
0.38
- Max
- 1.75
- Q3
- 0.93
- Median
- 0.54
- SHEL
- 0.38
- Q1
- 0.30
- Min
- 0.00
Financial Strength Metrics
| Metric | CNQ | SHEL |
|---|---|---|
| Current Ratio (MRQ) | 0.99 | 1.38 |
| Debt / Equity (MRQ) | 0.42 | 0.38 |
| Net Debt / EBITDA | 0.67 | 0.59 |
Dividends
Dividend Yield (TTM)
Canadian Natural Resources (CNQ) at 5.03% delivers top-quartile income for its industry, while Shell (SHEL) at 1.54% 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%
SHEL
Energy industry group
1.54%
- Max
- 8.57%
- Q3
- 3.58%
- Median
- 1.71%
- SHEL
- 1.54%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Both Canadian Natural Resources (CNQ) at 36.37% and Shell (SHEL) at 26.24% 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%
SHEL
Energy industry group
26.24%
- Max
- 133.24%
- Q3
- 53.31%
- SHEL
- 26.24%
- Median
- 25.24%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | CNQ | SHEL |
|---|---|---|
| Dividend Yield (TTM) | 5.03% | 1.54% |
| Dividend Payout Ratio (TTM) | 36.37% | 26.24% |
Valuation
P/E Ratio (TTM)
Both Canadian Natural Resources (CNQ) at 9.95 and Shell (SHEL) at 8.60 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
SHEL
Energy industry group
8.60
- Max
- 39.54
- Q3
- 21.72
- Median
- 12.19
- SHEL
- 8.60
- Q1
- 7.71
- Min
- 2.99
P/S Ratio (TTM)
Shell (SHEL) at 0.87 sits in the cheaper P/S ratio quartile while Canadian Natural Resources (CNQ) at 2.06 prices around its industry’s middle — SHEL costs less per dollar of sales, though read it alongside growth and margins.
CNQ
Energy industry group
2.06
- Max
- 5.40
- Q3
- 2.85
- CNQ
- 2.06
- Median
- 1.69
- Q1
- 0.88
- Min
- 0.00
SHEL
Energy industry group
0.87
- Max
- 5.40
- Q3
- 2.85
- Median
- 1.69
- Q1
- 0.88
- SHEL
- 0.87
- Min
- 0.00
P/B Ratio (MRQ)
Shell (SHEL) at 1.43 is valued about in line with its industry on P/B ratio, while Canadian Natural Resources (CNQ) at 2.97 carries an above-peer premium to book — CNQ is pricier on assets.
CNQ
Energy industry group
2.97
- Max
- 4.21
- CNQ
- 2.97
- Q3
- 2.38
- Median
- 1.51
- Q1
- 1.08
- Min
- 0.01
SHEL
Energy industry group
1.43
- Max
- 4.21
- Q3
- 2.38
- Median
- 1.51
- SHEL
- 1.43
- Q1
- 1.08
- Min
- 0.01
Valuation Metrics
| Metric | CNQ | SHEL |
|---|---|---|
| P/E Ratio (TTM) | 9.95 | 8.60 |
| P/S Ratio (TTM) | 2.06 | 0.87 |
| P/B Ratio (MRQ) | 2.97 | 1.43 |
| Free Cash Flow Yield (TTM) | 12.33% | 10.35% |