CNQ vs NOA
Canadian Natural Resources Ltd. and North American Construction Group Ltd., side by side — 10 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | CNQ | NOA |
|---|---|---|
| Revenue | CAD 38.8B | CAD 1.3B |
| Net income | CAD 10.8B | CAD 33.8M |
| Gross margin | · | 12.6% |
| Net margin | 27.9% | 2.6% |
| Return on equity | 25.8% | 8.0% |
| Diluted EPS | CAD 5.16 | CAD 1.14 |
| Dividend / share | · | CAD 0.48 |
| Payout ratio | 45.0% | 39.6% |
| Free cash flow | · | CAD -17.0M |
| Equity | · | CAD 456.6M |
| Net debt / equity | 0.36× | 1.42× |
| Current ratio | 0.95× | 0.88× |
| Revenue CAGR 5y | 18.1% | 20.8% |
| Profit CAGR 5y | · | −7.2% |
CNQ bills 30.2× the revenue of NOA, and keeps more of each dollar of revenue as profit (27.9% against 2.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | CNQ | NOA |
|---|---|---|
| FY2025 | CAD 38.8B | CAD 1.3B |
| FY2024 | CAD 35.7B | CAD 1.2B |
| FY2023 | CAD 36.0B | CAD 964.7M |
| FY2022 | CAD 42.3B | CAD 769.5M |
| FY2021 | CAD 30.1B | CAD 654.1M |
| FY2020 | CAD 16.9B | CAD 498.5M |
| FY2019 | CAD 22.9B | CAD 719.1M |
| FY2018 | CAD 21.0B | CAD 410.1M |
| FY2017 | CAD 17.3B | CAD 292.6M |
| FY2016 | CAD 11.4B | CAD 213.2M |
Bottom line
| Fiscal year | CNQ | NOA |
|---|---|---|
| FY2025 | CAD 10.8B | CAD 33.8M |
| FY2024 | CAD 6.1B | CAD 44.0M |
| FY2023 | CAD 8.2B | CAD 63.1M |
| FY2022 | CAD 10.9B | CAD 67.4M |
| FY2021 | CAD 7.7B | CAD 51.4M |
| FY2020 | CAD -435.0M | CAD 49.2M |
| FY2019 | CAD 5.4B | CAD 36.9M |
| FY2018 | CAD 2.6B | CAD 15.3M |
| FY2017 | CAD 2.4B | CAD 5.3M |
| FY2016 | CAD -204.0M | CAD -445,000 |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CAD 37,477,709,000 | CNQ |
| FY2024 | +CAD 34,490,213,000 | CNQ |
| FY2023 | +CAD 35,003,320,000 | CNQ |
| FY2022 | +CAD 41,528,461,000 | CNQ |
| FY2021 | +CAD 29,402,857,000 | CNQ |
| FY2020 | +CAD 16,394,532,000 | CNQ |
| FY2019 | +CAD 22,151,933,000 | CNQ |
| FY2018 | +CAD 20,616,939,000 | CNQ |
| FY2017 | +CAD 17,049,443,000 | CNQ |
| FY2016 | +CAD 11,213,820,000 | CNQ |
| FY2015 | +CAD 12,081,718,000 | CNQ |
CNQ has reported the higher revenue in every one of these 11 fiscal years. The gap has widened since the earliest year compared.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +25.3 pp | CNQ |
| FY2024 | +13.3 pp | CNQ |
| FY2023 | +16.3 pp | CNQ |
| FY2022 | +17.1 pp | CNQ |
| FY2021 | +17.6 pp | CNQ |
| FY2020 | −12.4 pp | NOA |
| FY2019 | +18.5 pp | CNQ |
| FY2018 | +8.6 pp | CNQ |
| FY2017 | +12.0 pp | CNQ |
| FY2016 | −1.6 pp | NOA |
| FY2015 | −2.5 pp | NOA |
The higher net margin has changed hands between CNQ and NOA over this period.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
CNQ's net margin has been more volatile than NOA's over the 11 comparable fiscal years — 11.8 percentage points of standard deviation against 3.7.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between CNQ and NOA over these 11 fiscal years — CNQ led in 8 and NOA in 3.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
CNQ's return on equity has been more volatile than NOA's over the 11 comparable fiscal years — 10.7 percentage points of standard deviation against 9.3.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between CNQ and NOA over these 11 fiscal years — CNQ led in 7 and NOA in 4.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.