Canadian Natural Resources vs Devon Energy
Canadian Natural Resources is the larger business, with $27.75bn of revenue in fiscal 2025 against $17.19bn for Devon Energy (1.6 times as much). Devon Energy grew faster (7.8% against 6.6%). Canadian Natural Resources kept more of each dollar of sales as profit: a net margin of 27.9% against 15.4%. Canadian Natural Resources carries less debt relative to equity (37.5% against 60.5%).
| Latest fiscal year | Canadian Natural ResourcesCNQ, 2025 | Devon EnergyDVN, 2025 |
|---|---|---|
| Revenue | $27.75bn | $17.19bn |
| Revenue growth | 6.6% | 7.8% |
| Net income | $7.75bn | $2.64bn |
| Operating margin | — | — |
| Net margin | 27.9% | 15.4% |
| Return on equity | 25.9% | 17.6% |
| Free cash flow | $10.81bn | $3.12bn |
| Cash | $491m | $1.38bn |
| Total debt | $12.12bn | $9.39bn |
| Debt to equity | 37.5% | 60.5% |
| Dividend per share | — | — |
| Dividend yield | 3.1% | 1.1% |
| Share buybacks | $1.04bn | $1.05bn |
| Employees | — | 2,200 |
| Market value | $112.70bn | $44.82bn |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | — | 58 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 1 buys, 5 sales |