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Canadian Natural ResourcesFRA:CRC -1.34%88 Debt-to-Equity is 0.37 as of Jun. 2026, which is 27% below its 10-year median of 0.51. GuruFocus rates FRA:CRC with a GF Score™ of 88/100 and a GF Value™ of €34.30 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 807 Oil & Gas companies, Canadian Natural Resources ranks better than 57.13% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Canadian Natural Resources's Debt-to-Equity or its related term are showing as below:
FRA:CRC'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.25 Med: 0.51 Max: 0.75
Current: 0.37
During the past 13 years, the highest Debt-to-Equity Ratio of Canadian Natural Resources was 0.75. The lowest was 0.25. And the median was 0.51.
FRA:CRC's Debt-to-Equity is ranked better than 57.13% of 807
companies
in the Oil & Gas industry
Industry Median: 0.46
vs FRA:CRC: 0.37
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Canadian Natural Resources Debt-to-Equity Related Terms
Canadian Natural Resources Debt-to-Equity Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:CRC vs COP, EOG, FANG: Debt-to-Equity Comparison
For the Oil & Gas E&P subindustry, Canadian Natural Resources's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Canadian Natural Resources Debt-to-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Canadian Natural Resources's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Canadian Natural Resources's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Canadian Natural Resources (FRA:CRC) has a Debt-to-Equity of 0.37 as of Jun. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Canadian Natural Resources and its competitors. This is 27% below median its historical median of 0.51. Over the past decade, Canadian Natural Resources' Debt-to-Equity has ranged from 0.25 to 0.75. According to the industry distribution chart, Canadian Natural Resources ranks #346 out of 807 companies in the Oil & Gas industry, placing it in the top 42.9%.
Is Canadian Natural Resources' Debt-to-Equity too high?
Canadian Natural Resources' current Debt-to-Equity of 0.37 is 27% below median its 10-year median of 0.51. Over the past 10 years, this metric has ranged from a low of 0.25 to a high of 0.75. The Oil & Gas industry median Debt-to-Equity is 0.46. Canadian Natural Resources' value of 0.37 is 19.6% below this industry median. Based on the distribution chart, Canadian Natural Resources ranks #346 out of 807 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Canadian Natural Resources has a GF Score™ of 88/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Canadian Natural Resources' Debt-to-Equity compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Canadian Natural Resources ranks #346 out of 807 companies for Debt-to-Equity. This puts Canadian Natural Resources in the upper half of its industry. The industry median Debt-to-Equity is 0.46. Canadian Natural Resources' value of 0.37 is 19.6% below this benchmark. Historically, Canadian Natural Resources' own Debt-to-Equity has ranged from 0.25 to 0.75 over the past decade. While the company's 10-year median is 0.51 vs. the industry median of 0.46, Canadian Natural Resources has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Oil & Gas company?
The median Debt-to-Equity among Oil & Gas companies is 0.46, based on 807 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Canadian Natural Resources's current Debt-to-Equity of 0.37 is 19.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Canadian Natural Resources and its competitors. For the Oil & Gas industry, the median Debt-to-Equity is 0.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian Natural Resources's current Debt-to-Equity is 0.37, which is 27% below median its own 10-year median of 0.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Canadian Natural Resources stock overvalued right now?
Based on GuruFocus' analysis, Canadian Natural Resources (FRA:CRC) is currently considered Modestly Overvalued. The stock's GF Value™ is €34.30, compared to a current price of €39.00 — trading 13.7% above its estimated fair value. The current Debt-to-Equity is 0.37, which is 27% below median its 10-year median of 0.51 and 19.6% below the Oil & Gas industry median of 0.46. Canadian Natural Resources' overall GF Score™ is 88/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Canadian Natural Resources (FRA:CRC), the current Debt-to-Equity is 0.37 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Canadian Natural Resources (FRA:CRC) Overvalued in 2026?
Based on GuruFocus' analysis, Canadian Natural Resources stock appears to be overvalued.
The current stock price of €39.00 is trading 13.7% above its estimated GF Value™ of €34.30.
GuruFocus considers Canadian Natural Resources to be Modestly Overvalued.
Key valuation signals for FRA:CRC:
Debt-to-Equity: 0.37 (27% below median its 10-year median of 0.51)
GF Value™: €34.30 vs. price of €39.00 (13.7% above fair value)
Industry Position: 19.6% below the Oil & Gas median (#346 of 807)
No single metric tells the full story. See the FRA:CRC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Canadian Natural Resources is the largest producer of oil and the second-largest producer of natural gas in Canada. It is principally involved in extracting heavy oils, natural gas, and bitumen through its drilling and mining operations. Bitumen from mining operations is upgraded into synthetic crude oil. Commodities produced are primarily exported to the US via pipeline. The company also has smaller offshore production operations in the North Sea and Africa.
88GF Score
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