CANADIAN NATURAL RESOURCES LIMITED vs PEMBINA PIPELINE CORPORATION, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Where CNQ and PBA diverge most: on return on assets, CNQ reads 11.8% and PBA reads 4.8%; on return on equity, CNQ reads 24.4% and PBA reads 10.1%. The rest of the comparable metrics sit closer together. On valuation, today's CNQ price has a different growth bar priced in than PBA (-1.7% implied for CNQ vs -3.8% for PBA); the higher figure is the steeper assumption to clear, not a better or worse stock. The bull and bear cases for each are in their full reports below.
| Metric | CNQ | PBA |
|---|---|---|
| Price | $49.65 | $47.33 |
| Market cap | $103.8B | $27.5B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | -1.7% | -3.8% |
| P/E | 13.1 | 24.1 |
| P/B | 3.18 | 2.23 |
| P/S | 3.64 | 4.81 |
| EV/EBITDA | 16.8 | 12.9 |
| Revenue growth | +8.4% | +4.6% |
| Gross margin | — | 41.0% |
| Operating margin | — | 36.1% |
| Net margin | 27.9% | 21.8% |
| Return on equity | 24.4% | 10.1% |
| Return on assets | 11.8% | 4.8% |
| Return on invested capital | — | 7.6% |
| FCF yield | 10.7% | 6.7% |
| Debt / equity | 0.37 | 0.70 |
| Current ratio | 0.95 | 0.61 |
| Altman Z (solvency) | 2.70 | 1.65 |
| Piotroski F (quality) | 8 / 9 | 4 / 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.