CNQ vs PBA
Canadian Natural Resources Limited and Pembina Pipeline Corporation, side by side — 8 fiscal years reported in CAD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | CNQ | PBA |
|---|---|---|
| Revenue | CAD 38.8B | CAD 7.8B |
| Net income | CAD 10.8B | CAD 1.7B |
| Gross margin | — | 41.1% |
| Net margin | 27.9% | 21.8% |
| Return on equity | — | 11.8% |
| Diluted EPS | CAD 5.16 | CAD 2.66 |
| Dividend / share | — | — |
| Payout ratio | 45.0% | −484.2% |
| Free cash flow | CAD 5.9B | — |
| Equity | — | CAD 15.8B |
| Net debt / equity | — | 0.62× |
| Current ratio | 0.95× | 0.61× |
| Revenue CAGR 5y | 18.1% | 5.5% |
| Profit CAGR 5y | — | — |
CNQ bills 5.0× the revenue of PBA, and keeps more of each dollar of revenue as profit (27.9% against 21.8%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
8 years side by side
| Fiscal year | CNQ | PBA |
|---|---|---|
| FY2025 | CAD 38.8B | CAD 7.8B |
| FY2024 | CAD 35.7B | CAD 7.4B |
| FY2023 | CAD 36.0B | CAD 6.3B |
| FY2022 | CAD 42.3B | CAD 11.6B |
| FY2021 | CAD 30.1B | CAD 8.6B |
| FY2020 | CAD 16.9B | CAD 6.0B |
| FY2019 | CAD 22.9B | CAD 6.4B |
| FY2018 | CAD 21.0B | CAD 7.4B |
Net income by year
Bottom line
| Fiscal year | CNQ | PBA |
|---|---|---|
| FY2025 | CAD 10.8B | CAD 1.7B |
| FY2024 | CAD 6.1B | CAD 1.9B |
| FY2023 | CAD 8.2B | CAD 1.8B |
| FY2022 | CAD 10.9B | CAD 3.0B |
| FY2021 | CAD 7.7B | CAD 1.2B |
| FY2020 | CAD -435.0M | CAD -316.0M |
| FY2019 | CAD 5.4B | CAD 1.5B |
| FY2018 | CAD 2.6B | CAD 411.0M |
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