CANADIAN NATURAL RESOURCES LIMITED vs Diamondback Energy, Inc., two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Diamondback's trailing earnings are crushed by Endeavor-acquisition integration costs, its 183 P/E and 0.67% return on equity artifacts of a one-time charge rather than the business, so free cash is the honest lens: Diamondback yields 16.2%, Canadian Natural 13.5%, both prodigious. Canadian Natural nets 27.9% of revenue on oil-sands economics; Diamondback's normalized margins are Permian-strong beneath the acquisition noise. Diamondback pays a 2.2% dividend and carries 0.33 turns of debt; Canadian Natural runs debt-free. The pair prices oil-sands longevity against Permian scale (Diamondback now the basin's largest pure play post-Endeavor); read Diamondback on its cash yield, not its distorted trailing earnings.
Comparison updated 2026-07-11.
| Metric | CNQ | FANG |
|---|---|---|
| Price | $39.49 | $179.74 |
| Market cap | $82.6B | $50.8B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | +6.6% |
| P/E | 10.4 | 183.4 |
| P/B | 2.53 | 1.19 |
| P/S | 2.90 | 3.34 |
| EV/EBITDA | 11.9 | 13.1 |
| Revenue growth | +8.4% | +23.1% |
| Operating margin | — | 2.7% |
| Net margin | 27.9% | 1.9% |
| Return on equity | 24.4% | 0.7% |
| Return on assets | 11.8% | 0.4% |
| Return on invested capital | — | -0.4% |
| FCF yield | 13.4% | 16.2% |
| Dividend yield | — | 2.2% |
| Debt / equity | 0.00 | 0.33 |
| Current ratio | 0.95 | 0.56 |
| Altman Z (solvency) | 2.34 | 1.39 |
| Piotroski F (quality) | 8 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.