` Comparison: PSK, CNQ - Alpha Spread

PSK
vs
CNQ

Over the past 12 months, PSK has underperformed CNQ, delivering a return of -4% compared to the CNQ's +3% growth.

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PSK
CNQ
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Valuation Comparison

PSK Intrinsic Value
13.44 CAD
Overvaluation 51%
Intrinsic Value
Price
CNQ Intrinsic Value
48.702 CAD
Undervaluation 6%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Prairiesky Royalty Ltd
TSX:PSK
27.65 CAD
Canadian Natural Resources Ltd
TSX:CNQ
45.825 CAD
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Valuation Scenario:
Bear Case
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Bull Case

Growth Comparison

Growth Over Time
PSK, CNQ

PSK
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
Prairiesky Royalty Ltd
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
PSK, CNQ

PSK
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
Prairiesky Royalty Ltd
TSX:PSK
Canadian Natural Resources Ltd
TSX:CNQ
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What is Free Cash Flow?

Gross Margin

PSK
0%
CNQ
48.9%

Operating Margin

PSK
59.6%
CNQ
26.6%

Net Margin

PSK
44%
CNQ
17.2%

FCF Margin

PSK
52.1%
CNQ
-2.7%

ROE

PSK
8.3%
CNQ
16.6%

ROA

PSK
6.9%
CNQ
8.3%

ROIC

PSK
7.2%
CNQ
10.9%

ROCE

PSK
9.9%
CNQ
14.3%

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
PSK, CNQ

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Performance Gap
PSK, CNQ

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PSK
CNQ
Difference
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Performance By Year
PSK, CNQ

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CNQ
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