Canadian Natural ResourcesFRA:CRC +1.44%78 Return-on-Tangible-Equity is 50.14% as of Dec. 2025, which is 218% above its 10-year median of 15.79. GuruFocus rates FRA:CRC with a GF Score™ of 78/100 and a GF Value™ of €29.63 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 947 Oil & Gas companies, Canadian Natural Resources ranks better than 84.58% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Canadian Natural Resources's annualized net income for the quarter that ended in Dec. 2025 was €13,132 Mil. Canadian Natural Resources's average shareholder tangible equity for the quarter that ended in Dec. 2025 was €26,192 Mil. Therefore, Canadian Natural Resources's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 50.14%.
The historical rank and industry rank for Canadian Natural Resources's Return-on-Tangible-Equity or its related term are showing as below:
FRA:CRC'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -1.29 Med: 15.79 Max: 29.12
Current: 26.26
During the past 13 years, Canadian Natural Resources's highest Return-on-Tangible-Equity was 29.12%. The lowest was -1.29%. And the median was 15.79%.
FRA:CRC's Return-on-Tangible-Equity is ranked better than 84.58% of 947
companies
in the Oil & Gas industry
Industry Median: 6.74
vs FRA:CRC: 26.26
Canadian Natural Resources (FRA:CRC) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Canadian Natural Resources Return-on-Tangible-Equity Related Terms
Canadian Natural Resources Return-on-Tangible-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.
Canadian Natural Resources Return-on-Tangible-Equity Chart
FRA:CRC vs COP, EOG, FANG: Return-on-Tangible-Equity Comparison
For the Oil & Gas E&P subindustry, Canadian Natural Resources's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-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 Return-on-Tangible-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Canadian Natural Resources's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Canadian Natural Resources's Return-on-Tangible-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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 50.14% mean?
Canadian Natural Resources (FRA:CRC) has a Return-on-Tangible-Equity of 50.14% as of Dec. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Canadian Natural Resources and its competitors. This is 218% above median its historical median of 15.79. According to the industry distribution chart, Canadian Natural Resources ranks #146 out of 947 companies in the Oil & Gas industry, placing it in the top 15.4%.
Is Canadian Natural Resources' Return-on-Tangible-Equity too high?
Canadian Natural Resources' current Return-on-Tangible-Equity of 50.14% is 218% above median its 10-year median of 15.79. The Oil & Gas industry median Return-on-Tangible-Equity is 6.74. Canadian Natural Resources' value of 50.14% is 643.9% above this industry median. Based on the distribution chart, Canadian Natural Resources ranks #146 out of 947 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 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Canadian Natural Resources' Return-on-Tangible-Equity compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Canadian Natural Resources ranks #146 out of 947 companies for Return-on-Tangible-Equity. This places Canadian Natural Resources in the top 15% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.74. Canadian Natural Resources' value of 50.14% is 643.9% above this benchmark. While the company's 10-year median is 15.79 vs. the industry median of 6.74, 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-Equity for an Oil & Gas company?
The median Return-on-Tangible-Equity among Oil & Gas companies is 6.74, based on 947 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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-Equity of 50.14% is 643.9% 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Canadian Natural Resources and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Equity is 6.74 — 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-Equity is 50.14%, which is 218% above median its own 10-year median of 15.79. 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 €29.63, compared to a current price of €34.37 — trading 16% above its estimated fair value. The current Return-on-Tangible-Equity is 50.14%, which is 218% above median its 10-year median of 15.79 and 643.9% above the Oil & Gas industry median of 6.74. Canadian Natural Resources' overall GF Score™ is 78/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Canadian Natural Resources (FRA:CRC), the current Return-on-Tangible-Equity is 50.14% 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 €34.37 is trading 16% above its estimated GF Value™ of €29.63.
GuruFocus considers Canadian Natural Resources to be Modestly Overvalued.
Key valuation signals for FRA:CRC:
Return-on-Tangible-Equity: 50.14% (218% above median its 10-year median of 15.79)
GF Value™: €29.63 vs. price of €34.37 (16% above fair value)
Industry Position: 643.9% above the Oil & Gas median (#146 of 947)
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.
78GF Score
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