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Canadian Natural ResourcesFRA:CRC -1.12%83 Return-on-Tangible-Asset is 23.97% as of Dec. 2025, which is 223% above its 10-year median of 7.41. GuruFocus rates FRA:CRC with a GF Score™ of 83/100 and a GF Value™ of €29.35 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 1,025 Oil & Gas companies, Canadian Natural Resources ranks better than 89.37% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Canadian Natural Resources's annualizedNet Income for the quarter that ended in Dec. 2025 was €13,132 Mil. Canadian Natural Resources's average total tangible assets for the quarter that ended in Dec. 2025 was €54,780 Mil. Therefore, Canadian Natural Resources's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 23.97%.
The historical rank and industry rank for Canadian Natural Resources's Return-on-Tangible-Asset or its related term are showing as below:
FRA:CRC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.57 Med: 7.41 Max: 14.31
Current: 12.5
During the past 13 years, Canadian Natural Resources's highest Return-on-Tangible-Asset was 14.31%. The lowest was -0.57%. And the median was 7.41%.
FRA:CRC's Return-on-Tangible-Asset is ranked better than 89.37% of 1025
companies
in the Oil & Gas industry
Industry Median: 2.09
vs FRA:CRC: 12.50
Canadian Natural Resources (FRA:CRC) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Canadian Natural Resources Return-on-Tangible-Asset Related Terms
Canadian Natural Resources Return-on-Tangible-Asset 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.
Canadian Natural Resources Return-on-Tangible-Asset Chart
FRA:CRC vs COP, EOG, FANG: Return-on-Tangible-Asset Comparison
For the Oil & Gas E&P subindustry, Canadian Natural Resources's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Canadian Natural Resources's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Canadian Natural Resources's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 23.97% mean?
Canadian Natural Resources (FRA:CRC) has a Return-on-Tangible-Asset of 23.97% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Canadian Natural Resources and its competitors. This is 223% above median its historical median of 7.41. According to the industry distribution chart, Canadian Natural Resources ranks #109 out of 1025 companies in the Oil & Gas industry, placing it in the top 10.6%.
Is Canadian Natural Resources' Return-on-Tangible-Asset too high?
Canadian Natural Resources' current Return-on-Tangible-Asset of 23.97% is 223% above median its 10-year median of 7.41. The Oil & Gas industry median Return-on-Tangible-Asset is 2.09. Canadian Natural Resources' value of 23.97% is 1046.9% above this industry median. Based on the distribution chart, Canadian Natural Resources ranks #109 out of 1025 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Canadian Natural Resources has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Canadian Natural Resources' Return-on-Tangible-Asset compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Canadian Natural Resources ranks #109 out of 1025 companies for Return-on-Tangible-Asset. This places Canadian Natural Resources in the top 11% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.09. Canadian Natural Resources' value of 23.97% is 1046.9% above this benchmark. While the company's 10-year median is 7.41 vs. the industry median of 2.09, Canadian Natural Resources has consistently been above 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 Return-on-Tangible-Asset for an Oil & Gas company?
The median Return-on-Tangible-Asset among Oil & Gas companies is 2.09, based on 1,025 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Canadian Natural Resources's current Return-on-Tangible-Asset of 23.97% is 1046.9% above 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Canadian Natural Resources and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Asset is 2.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian Natural Resources's current Return-on-Tangible-Asset is 23.97%, which is 223% above median its own 10-year median of 7.41. 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 €29.35, compared to a current price of €37.09 — trading 26.4% above its estimated fair value. The current Return-on-Tangible-Asset is 23.97%, which is 223% above median its 10-year median of 7.41 and 1046.9% above the Oil & Gas industry median of 2.09. Canadian Natural Resources' overall GF Score™ is 83/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Canadian Natural Resources (FRA:CRC), the current Return-on-Tangible-Asset is 23.97% as of Dec. 2025. 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 €37.09 is trading 26.4% above its estimated GF Value™ of €29.35.
GuruFocus considers Canadian Natural Resources to be Modestly Overvalued.
Key valuation signals for FRA:CRC:
Return-on-Tangible-Asset: 23.97% (223% above median its 10-year median of 7.41)
GF Value™: €29.35 vs. price of €37.09 (26.4% above fair value)
Industry Position: 1046.9% above the Oil & Gas median (#109 of 1025)
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.
83GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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