Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
As of Jun. 2026, Canadian Natural Resources has a Sloan Ratio of 1.86%, indicating the company is in the safe zone and there is no funny business with accruals.
Canadian Natural Resources (FRA:CRC) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Jun. 2026, Canadian Natural Resources has a Sloan Ratio of 1.86%, indicating the company is in the safe zone and there is no funny business with accruals.
Canadian Natural Resources Sloan Ratio % Related Terms
Canadian Natural Resources Sloan Ratio % 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: Sloan Ratio % Comparison
For the Oil & Gas E&P subindustry, Canadian Natural Resources's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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 Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Canadian Natural Resources's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Canadian Natural Resources's Sloan Ratio % falls into.
Canadian Natural Resources Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Canadian Natural Resources's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 369.524 (Sep. 2025 ) + 3282.901 (Dec. 2025 ) + 849.869 (Mar. 2026 ) + 2785.096 (Jun. 2026 ) = €7,287 Mil.
Canadian Natural Resources's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 2426.543 (Sep. 2025 ) + 2332.636 (Dec. 2025 ) + 2069.191 (Mar. 2026 ) + 4220.011 (Jun. 2026 ) = €11,048 Mil.
Canadian Natural Resources's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -1375.862 (Sep. 2025 ) + -742.878 (Dec. 2025 ) + -1228.779 (Mar. 2026 ) + -1526.453 (Jun. 2026 ) = €-4,874 Mil.
* 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 Sloan Ratio % of 1.86% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Canadian Natural Resources and its competitors.
Is Canadian Natural Resources' Sloan Ratio % too high?
Canadian Natural Resources' current Sloan Ratio % is 1.86%. 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' Sloan Ratio % compare to COP and EOG?
Canadian Natural Resources' Sloan Ratio % of 1.86% can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for an Oil & Gas company?
A good Sloan Ratio % depends on the Oil & Gas industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Canadian Natural Resources and its competitors. Canadian Natural Resources's current Sloan Ratio % is 1.86%. 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 Sloan Ratio % is 1.86%. 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 Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Canadian Natural Resources (FRA:CRC), the current Sloan Ratio % is 1.86% 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:
Sloan Ratio %: 1.86%
GF Value™: €34.30 vs. price of €39.00 (13.7% above fair value)
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
Get the complete analysis for FRA:CRC
Sloan Ratio % 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 
