The historical rank and industry rank for Canadian Natural Resources's ROE % or its related term are showing as below:
FRA:CRC'
s ROE % 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 ROE % was 29.12%. The lowest was -1.29%. And the median was 15.79%.
FRA:CRC's ROE % is ranked better than 88.82% of 957
companies
in the Oil & Gas industry
Industry Median: 5.71
vs FRA:CRC: 26.26
Canadian Natural Resources (FRA:CRC) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Dec. 2025) net income data. The Revenue data used here is four times the quarterly (Dec. 2025) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % 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 ROE %s can be extremely high.
* 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.
For the Oil & Gas E&P subindustry, Canadian Natural Resources's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Canadian Natural Resources's ROE % distribution charts can be found below:
* The bar in red indicates where Canadian Natural Resources's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder 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.
ROE % is displayed in the 30-year financial page.
Canadian Natural Resources (FRA:CRC) has a ROE % of 50.14% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total 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 #107 out of 957 companies in the Oil & Gas industry, placing it in the top 11.2%.
Is Canadian Natural Resources' ROE % too high?
Canadian Natural Resources' current ROE % of 50.14% is 218% above median its 10-year median of 15.79. The Oil & Gas industry median ROE % is 5.71. Canadian Natural Resources' value of 50.14% is 778.1% above this industry median. Based on the distribution chart, Canadian Natural Resources ranks #107 out of 957 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' ROE % compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Canadian Natural Resources ranks #107 out of 957 companies for ROE %. This places Canadian Natural Resources in the top 11% of its industry — outperforming the majority of peers. The industry median ROE % is 5.71. Canadian Natural Resources' value of 50.14% is 778.1% above this benchmark. While the company's 10-year median is 15.79 vs. the industry median of 5.71, 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 ROE % for an Oil & Gas company?
The median ROE % among Oil & Gas companies is 5.71, based on 957 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Canadian Natural Resources's current ROE % of 50.14% is 778.1% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Canadian Natural Resources and its competitors. For the Oil & Gas industry, the median ROE % is 5.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian Natural Resources's current ROE % 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 €29.55, compared to a current price of €35.06 — trading 18.6% above its estimated fair value. The current ROE % is 50.14%, which is 218% above median its 10-year median of 15.79 and 778.1% above the Oil & Gas industry median of 5.71. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For Canadian Natural Resources (FRA:CRC), the current ROE % 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 €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:
ROE %: 50.14% (218% above median its 10-year median of 15.79)
GF Value™: €29.55 vs. price of €35.06 (18.6% above fair value)
Industry Position: 778.1% above the Oil & Gas median (#107 of 957)
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
Get the complete analysis for FRA:CRC
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:CRC has been successfully added to your 
