` CNQ (Canadian Natural Resources Ltd) vs DVN (Devon Energy Corp) Comparison - Alpha Spread
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CNQ
vs
DVN

Over the past 12 months, CNQ has outperformed DVN, delivering a return of +46% compared to the DVN's +43% growth.

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CNQ
DVN
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Stocks Compared:
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Valuation Comparison

CNQ Intrinsic Value
45.48 CAD
Overvaluation 21%
Intrinsic Value
Price CA$57.67
DVN Intrinsic Value
40.28 USD
Overvaluation 5%
Intrinsic Value
Price $42.28
Company Last Price Intrinsic Value DCF Value Multiples-Based Value Wall St Target
Canadian Natural Resources Ltd
TSX:CNQ
57.67 CAD
Devon Energy Corp
NYSE:DVN
42.28 USD
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Valuation Scenario:
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Growth Comparison

Growth Over Time
CNQ, DVN

CNQ
DVN
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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
Canadian Natural Resources Ltd
Revenue
Devon Energy Corp
Revenue

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

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Profitability Comparison

Free Cash Flow
CNQ, DVN

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DVN
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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
Canadian Natural Resources Ltd
TSX:CNQ
Devon Energy Corp
NYSE:DVN
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What is Free Cash Flow?

Gross Margin

CNQ
48.5%
DVN
46.5%

Operating Margin

CNQ
25.8%
DVN
22.4%

Net Margin

CNQ
27.9%
DVN
15.4%

FCF Margin

CNQ
21.5%
DVN
16.3%

ROE

CNQ
25.8%
DVN
17.6%

ROA

CNQ
12.2%
DVN
8.5%

ROIC

CNQ
9.4%
DVN
10.2%

ROCE

CNQ
12.5%
DVN
14.1%

Solvency Comparison

Canadian Natural Resources Ltd
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
Devon Energy Corp
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
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Performance Gap
CNQ, DVN

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CNQ
DVN
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
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