` Comparison: VAR, CNQ - Alpha Spread

V
VAR
vs
CNQ

Over the past 12 months, VAR has underperformed CNQ, delivering a return of -5% compared to the CNQ's +3% growth.

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VAR
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Stocks Compared:
VAR CNQ
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Valuation Comparison

VAR Intrinsic Value
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CNQ Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
V
Var Energi ASA
OSE:VAR
32.14 NOK
Canadian Natural Resources Ltd
TSX:CNQ
45.44 CAD
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Valuation Scenario:
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Growth Comparison

Growth Over Time
VAR, CNQ

VAR
CNQ
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
V
Var Energi ASA
Revenue
Canadian Natural Resources Ltd
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
VAR, CNQ

VAR
CNQ
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
V
Var Energi ASA
OSE:VAR
Canadian Natural Resources Ltd
TSX:CNQ
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What is Free Cash Flow?

Gross Margin

VAR
81.1%
CNQ
48.9%

Operating Margin

VAR
48.2%
CNQ
26.6%

Net Margin

VAR
8.4%
CNQ
17.2%

FCF Margin

VAR
12.6%
CNQ
-2.7%

ROE

VAR
51%
CNQ
16.6%

ROA

VAR
2.5%
CNQ
8.3%

ROIC

VAR
2.6%
CNQ
10.9%

ROCE

VAR
16.1%
CNQ
14.3%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
VAR, CNQ

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VAR
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Performance Gap
VAR, CNQ

Performance Gap Between VAR and CNQ
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Performance By Year
VAR, CNQ

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