Canadian Natural Resources vs Valero Energy: Fair Value & Quality
Both stocks run through our valuation models. Here is how Canadian Natural Resources (CNQ) and Valero Energy (VLO) compare, as of Aug 28, 2026.
As of Aug 28, 2026, Fair Value Calculator sees Canadian Natural Resources as the less overvalued of the two: Canadian Natural Resources trades at $49.77 versus a fair value of $31.66 (-36%), while Valero Energy trades at $347 versus $127 (-63%).
Canadian Natural Resources
CNQ · USD · Energy
-36%
upside to fair value
overvalued
Price$49.77
Fair Value$31.66
Quality72/100
Valero Energy
VLO · USD · Energy
-63%
upside to fair value
overvalued
Price$347
Fair Value$127
Quality66/100
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Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Canadian Natural ResourcesValero Energy
Valuation
12.8×P/E (TTM)22.6×
2.29×P/S (TTM)0.78×
2.31×P/B3.88×
6.2×EV/EBITDA10.5×
3.42×PEG4.08×
4.8%Dividend yield1.3%
$2.39Dividend per share$4.59
Profitability
26%Net margin4%
43%Operating margin6%
27%Return on equity16%
8%Return on assets6%
Growth
70%Revenue growth (YoY)7%
-3.7%Avg. growth/yr (3Y)-11.4%
20.4%Avg. growth/yr (5Y)13.6%
Balance & size
0.37×Debt / equity0.41×
$102BMarket cap$92B
mixedGrowth qualityweak
Canadian Natural Resources leads: 13 to 1 metric wins.
Dash = 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 Resourcesof which business quality 68 · market factors 78Valero Energyof which business quality 64 · market factors 93
ProfitabilityMargins and returns on capital today
61
43
Quality GrowthAre margins and returns improving?
73
36
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
57
100
Low VolatilityCalm price path (market factor)
68
75
MomentumPrice trend over the last 3–12 months (market factor)
74
100
52W MomentumDistance to the 52-week high (market factor)
96
100
Net IssuanceBuybacks instead of dilution
92
100
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Canadian Natural Resources
DCF Models$76.78
Earnings-Based$69.86
Dividend Discount$41.54
Multiples$35.55
Asset-Based$14.41
Growth DCF$64.39
Economic Profit$35.29
Growth Earnings$87.51
14 of 26 models see the stock below the current price.
Valero Energy
DCF Models$240
Earnings-Based$103
Multiples$134
Asset-Based$53.53
Growth DCF$300
Economic Profit$113
Growth Earnings$119
22 of 24 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Canadian Natural Resources
Bear $24.53Fair Value $31.66Bull $81.95
$49.77 = current price (white tick)
Valero Energy
Bear $89.58Fair Value $127Bull $165
$347 = current price (white tick)
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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-36% · below median
Valero Energy · Energy
Quality score66 · Top 25%
Fair value upside-63% · bottom 25%
Bottom line
As of Aug 28, 2026, Fair Value Calculator sees Canadian Natural Resources as the less overvalued of the two: Canadian Natural Resources trades at $49.77 versus a fair value of $31.66 (-36%), while Valero Energy trades at $347 versus $127 (-63%).
Canadian Natural Resources has the higher quality score (72/100).
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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.
