CANADIAN NATURAL RESOURCES LIMITED vs OCCIDENTAL PETROLEUM CORPORATION, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both balance sheets have healed but unevenly: Canadian Natural runs debt-free, Occidental carries 0.39 turns still working down its Anadarko-and-CrownRock acquisition debt. The clean sheet earns more: Canadian Natural's 24.4% return on equity against Occidental's 12.1%, and 11.8% on assets against 5.9%, oil-sands longevity against Permian-plus-chemicals breadth. Both net over 20% of revenue, 27.9% and 22.4%. Occidental pays a 1.9% dividend (and carries Buffett's preferred overhang); Canadian Natural none displayed. The multiples sit at 10.4 and 12.6 times. The pair prices oil sands against a diversified US producer mid-deleveraging; Canadian Natural's decline-resistant barrels earn double Occidental's return on capital, the market charging only two turns for the difference.
Comparison updated 2026-07-11.
| Metric | CNQ | OXY |
|---|---|---|
| Price | $39.49 | $49.98 |
| Market cap | $82.6B | $50.3B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| P/E | 10.4 | 12.6 |
| P/B | 2.53 | 1.27 |
| P/S | 2.90 | 2.36 |
| EV/EBITDA | 11.9 | 8.2 |
| Revenue growth | +8.4% | +4.5% |
| Net margin | 27.9% | 22.4% |
| Return on equity | 24.4% | 12.1% |
| Return on assets | 11.8% | 5.9% |
| FCF yield | 13.4% | 6.7% |
| Dividend yield | — | 1.9% |
| Debt / equity | 0.00 | 0.39 |
| Current ratio | 0.95 | 1.21 |
| Altman Z (solvency) | 2.34 | 6.73 |
| Piotroski F (quality) | 8 / 9 | 7 / 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.