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STOCK COMPARISON

Canadian Natural Resources vs Petroleo Brasileiro Petrobras SA: Fair Value & Quality

Both stocks run through our valuation models. Here is how Canadian Natural Resources (CNQ) and Petroleo Brasileiro Petrobras SA (PBR) compare, as of Oct 28, 2026.

As of Oct 28, 2026, Fair Value Calculator sees Canadian Natural Resources as the more attractively valued of the two: Canadian Natural Resources trades at $54.07 versus a fair value of $60.62 (+12.1%), while Petroleo Brasileiro Petrobras SA trades at $22.30 versus $15.70 (−29.6%).
Canadian Natural Resources
CNQ · USD · Energy
+12.1%
upside to fair value
undervalued
Price$54.07
Fair Value$60.62
Quality72/100
Petroleo Brasileiro Petrobras SA
PBR · USD · Energy
−29.6%
upside to fair value
overvalued
Price$22.30
Fair Value$15.70
Quality62/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Canadian Natural ResourcesPetroleo Brasileiro Petrobras SA
Valuation
13.5×P/E (TTM)6.6×
8.7×Forward P/E (FY2027)5.4×
2.58×P/S (TTM)n/a
2.60×P/Bn/a
6.8×EV/EBITDAn/a
3.42×PEG6.05×
+12.1%Fair value upside−29.6%
4.4%Dividend yield16.3%
$2.43Dividend per share$3.67
Profitability
43.1%Operating margin44.7%
n/aEBIT margin trend (5Y)1.05×
26.7%Return on equity30.3%
11.8%Return on assets9.0%
Growth
69.5%Revenue growth (YoY)42.3%
n/aAvg. growth/yr (3Y)-10.0%
n/aAvg. growth/yr (5Y)11.1%
+18.3%Value creation/yr+14.9%
Balance & size
7.9×Interest coverage (EBIT/interest)201.2×
0.37×Debt / equity0.32×
$115BMarket cap$165B
healthyGrowth qualityweak
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Even match: 5 to 5 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Canadian Natural Resources Petroleo Brasileiro Petrobras SA
ProfitabilityHow much profit the company makes from its sales and capital
61
60
Quality GrowthAre margins and returns getting better?
73
48
CashflowDo the profits arrive as real cash?
69
71
Financial strengthDebt, balance sheet and risk of trouble
63
52
InvestmentDoes it invest with discipline instead of growing at any price?
57
52
Low VolatilityHow calm the share price moves, does not count
65
75
MomentumPrice trend of the last 3 to 12 months, does not count
78
76
Near the 52-week highDistance to the 52-week high, does not count
98
87
New sharesBuys back shares or issues new ones?
92
84

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyCanadian Natural ResourcesPrice $54.07Petroleo Brasileiro Petrobras SAPrice $22.30
DCF Models+4.4%close to the price$56.43+43.8%above the price$32.07
Earnings-Based−8.1%close to the price$49.68+47.7%above the price$32.94
Dividend Discount−46.2%below the price$29.08−32.3%below the price$15.10
Multiples−54.4%below the price$24.67+10.4%close to the price$24.61
Asset-Based−81.0%below the price$10.25−65.8%below the price$7.63
Growth DCF−9.8%close to the price$48.75+18.1%above the price$26.34
Economic Profit−54.4%below the price$24.67+13.9%close to the price$25.41
Growth Earnings+15.1%above the price$62.24+51.1%above the price$33.70
Matching families8 of 8
Minimum−81.0%below the price$10.25−65.8%below the price$7.63
Maximum+15.1%above the price$62.24+51.1%above the price$33.70
Median−28.0%below the price$38.92+16.0%above the price$25.88
Geometric mean−38.3%below the price$33.38+1.3%close to the price$22.58
Ahead family by family0 of 88 of 8

Minimum, maximum, median and geometric mean only use the families both stocks have (matching families: 8 of 8), so a family without a value on one side does not distort the comparison. Ahead in a family is the stock whose fair value there sits higher relative to its price. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Family by family: Petroleo Brasileiro Petrobras SA is ahead in 8 of 8 shared families, Canadian Natural Resources in none.

Canadian Natural Resources: 19 of 26 models see the stock below the current price.

Petroleo Brasileiro Petrobras SA: 11 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Canadian Natural Resources
Price $54.07
Fair Value $60.62
Bear $34.42Bull $96.53
Petroleo Brasileiro Petrobras SA
Price $22.30
Fair Value $15.70
Bear $12.35Bull $20.98

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Canadian Natural Resources · Energy

Quality score72 · Top 25%
Fair value upside+12.1% · above median

Petroleo Brasileiro Petrobras SA · Energy

Quality score62 · Top 25%
Fair value upside−29.6% · below median

Bottom line

As of Oct 28, 2026, Fair Value Calculator sees Canadian Natural Resources as the more attractively valued of the two: Canadian Natural Resources trades at $54.07 versus a fair value of $60.62 (+12.1%), while Petroleo Brasileiro Petrobras SA trades at $22.30 versus $15.70 (−29.6%).

Canadian Natural Resources has the higher quality score (72/100).

Open Canadian Natural Resources live analysis →

More comparisons

Popular match-ups from the same sectors, all with fair value and quality score.

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.