Canadian Natural Resources (FRA:CRC) ROCE %: 35.32% (As of Dec. 2025)


FRA:CRC Canadian Natural Resources Ltd FRA:CRC
78 GF Score
Price €35.06
GF Value €29.55
Valuation Modestly Overvalued
! 2 Warning Signs
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What is Canadian Natural Resources ROCE %?

Canadian Natural Resources FRA:CRC -2.22% 78 ROCE % is 35.32% as of Dec. 2025. GuruFocus rates FRA:CRC with a GF Score™ of 78/100 and a GF Value™ of €29.55 (Modestly Overvalued). The stock has 2 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Canadian Natural Resources's annualized ROCE % for the quarter that ended in Dec. 2025 was 35.32%.

Canadian Natural Resources  (FRA:CRC) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Canadian Natural Resources ROCE % Related Terms

Canadian Natural Resources ROCE % Historical Data

* Premium members only.

The historical data trend for Canadian Natural Resources's ROCE % can be seen below:

* 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 ROCE % Chart

Canadian Natural Resources Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 15.85 21.08 15.83 11.99 17.23

Canadian Natural Resources Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 17.32 15.82 2.97 35.32 0.00
FRA:CRC
78GF Score
Canadian Natural Resources Ltd FRA:CRC
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Canadian Natural Resources ROCE % Calculation

Canadian Natural Resources's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=8840.246/( ( (57217.551 - 6455.819) + (56848.728 - 4991.52) )/ 2 )
=8840.246/( (50761.732+51857.208)/ 2 )
=8840.246/51309.47
=17.23 %

Canadian Natural Resources's ROCE % of for the quarter that ended in Dec. 2025 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2025 )  (Q: Sep. 2025 )(Q: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2025 )  (Q: Sep. 2025 )(Q: Dec. 2025 )
=17564.108/( ( (52712.034 - 5119.76) + (56848.728 - 4991.52) )/ 2 )
=17564.108/( ( 47592.274 + 51857.208 )/ 2 )
=17564.108/49724.741
=35.32 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 35.32% mean?
Canadian Natural Resources (FRA:CRC) has a ROCE % of 35.32% as of Dec. 2025.
Is Canadian Natural Resources' ROCE % too high?
Canadian Natural Resources' current ROCE % is 35.32%. The Oil & Gas industry median ROCE % is 6.79. Canadian Natural Resources' value of 35.32% is 420.2% above this industry median. 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' ROCE % compare to COP and EOG?
Canadian Natural Resources' ROCE % of 35.32% can be compared against companies in the Oil & Gas industry. The industry median ROCE % is 6.79. Canadian Natural Resources' value of 35.32% is 420.2% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for an Oil & Gas company?
The median ROCE % among Oil & Gas companies is 6.79, based on 977 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Canadian Natural Resources's current ROCE % of 35.32% is 420.2% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median ROCE % is 6.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian Natural Resources's current ROCE % is 35.32%. 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 €29.55, compared to a current price of €35.06 — trading 18.6% above its estimated fair value. The current ROCE % is 35.32% and 420.2% above the Oil & Gas industry median of 6.79. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Canadian Natural Resources (FRA:CRC), the current ROCE % is 35.32% 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 €35.06 is trading 18.6% above its estimated GF Value™ of €29.55. GuruFocus considers Canadian Natural Resources to be Modestly Overvalued.

Key valuation signals for FRA:CRC:

  • ROCE %: 35.32%
  • GF Value™: €29.55 vs. price of €35.06 (18.6% above fair value)
  • GF Score™: 78/100 with 2 warning signs
  • Industry Position: 420.2% above the Oil & Gas median

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 Business Description

Industry EnergyOil & Gas
Address 855 - 2 Street S.W, Suite 2100, Calgary, AB, CAN, T2P 4J8
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

Get the complete analysis for FRA:CRC

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€35.06
Price
€29.55
GF Value