Canadian Natural Resources Stock Probability Of Bankruptcy
| CNQ Stock | CAD 47.52 0.50 1.06% |
Canadian | Probability Of Bankruptcy |
Canadian Natural Resources Company odds of distress Analysis
Canadian Natural's Probability Of Bankruptcy is a relative measure of the likelihood of financial distress. For stocks, the Probability Of Bankruptcy is the normalized value of Z-Score. For funds and ETFs, it is derived from a multi-factor model developed by Macroaxis. The score is used to predict the probability of a firm or a fund experiencing financial distress within the next 24 months. Unlike Z-Score, Probability Of Bankruptcy is the value between 0 and 100, indicating the firm's actual probability it will be financially distressed in the next 2 fiscal years.
More About Probability Of Bankruptcy | All Equity Analysis
Probability Of Bankruptcy | = | Normalized | | Z-Score |
Current Canadian Natural Probability Of Bankruptcy | Less than 10% |
Most of Canadian Natural's fundamental indicators, such as Probability Of Bankruptcy, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Canadian Natural Resources is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Our calculation of Canadian Natural probability of bankruptcy is based on Altman Z-Score and Piotroski F-Score, but not limited to these measures. To be applied to a broader range of industries and markets, we use several other techniques to enhance the accuracy of predicting Canadian Natural odds of financial distress. These include financial statement analysis, different types of price predictions, earning estimates, analysis consensus, and basic intrinsic valuation. Please use the options below to get a better understanding of different measures that drive the calculation of Canadian Natural Resources financial health.
Canadian Probability Of Bankruptcy Driver Correlations
Understanding the fundamental principles of building solid financial models for Canadian Natural is extremely important. It helps to project a fair market value of Canadian Stock properly, considering its historical fundamentals such as Probability Of Bankruptcy. Since Canadian Natural's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Canadian Natural's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Canadian Natural's interrelated accounts and indicators.
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The Probability of Bankruptcy SHOULD NOT be confused with the actual chance of a company to file for chapter 7, 11, 12, or 13 bankruptcy protection. Macroaxis simply defines Financial Distress as an operational condition where a company is having difficulty meeting its current financial obligations towards its creditors or delivering on the expectations of its investors. Macroaxis derives these conditions daily from both public financial statements as well as analysis of stock prices reacting to market conditions or economic downturns, including short-term and long-term historical volatility. Other factors taken into account include analysis of liquidity, revenue patterns, R&D expenses, and commitments, as well as public headlines and social sentiment.
| Competition |
Based on the latest financial disclosure, Canadian Natural Resources has a Probability Of Bankruptcy of 10.0%. This is 79.26% lower than that of the Oil, Gas & Consumable Fuels sector and 79.45% lower than that of the Energy industry. The probability of bankruptcy for all Canada stocks is 74.89% higher than that of the company.
Canadian Probability Of Bankruptcy Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Canadian Natural's direct or indirect competition against its Probability Of Bankruptcy to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Canadian Natural could also be used in its relative valuation, which is a method of valuing Canadian Natural by comparing valuation metrics of similar companies.Canadian Natural is currently under evaluation in probability of bankruptcy category among its peers.
Canadian Natural Main Bankruptcy Drivers
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Return On Assets | 0.0362 | 0.0693 | (0.005779) | 0.1 | 0.14 | 0.11 | |
| Net Debt | 20.8B | 21.3B | 14.0B | 10.5B | 11.5B | 9.7B | |
| Total Current Liabilities | 6.6B | 5.1B | 7.4B | 8.7B | 7.4B | 7.8B | |
| Non Current Liabilities Total | 36.5B | 37.8B | 32.3B | 29.3B | 28.7B | 18.6B | |
| Total Assets | 78.1B | 75.3B | 76.7B | 76.1B | 76.0B | 40.8B | |
| Total Current Assets | 4.5B | 4.4B | 5.9B | 7.1B | 7.2B | 7.5B | |
| Total Cash From Operating Activities | 8.8B | 4.7B | 14.5B | 19.4B | 12.4B | 13.0B |
Canadian Natural ESG Sustainability
Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Canadian Natural's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Canadian Natural's managers, analysts, and investors.Environment Score | Governance Score | Social Score |
Canadian Fundamentals
| Return On Equity | 0.19 | ||||
| Return On Asset | 0.0821 | ||||
| Profit Margin | 0.21 % | ||||
| Operating Margin | 0.32 % | ||||
| Current Valuation | 109.72 B | ||||
| Shares Outstanding | 2.11 B | ||||
| Shares Owned By Insiders | 4.30 % | ||||
| Shares Owned By Institutions | 75.90 % | ||||
| Number Of Shares Shorted | 31.94 M | ||||
| Price To Earning | 844.23 X | ||||
| Price To Book | 2.52 X | ||||
| Price To Sales | 2.81 X | ||||
| Revenue | 35.97 B | ||||
| Gross Profit | 23.61 B | ||||
| EBITDA | 17.27 B | ||||
| Net Income | 8.23 B | ||||
| Cash And Equivalents | 920 M | ||||
| Cash Per Share | 0.43 X | ||||
| Total Debt | 12.35 B | ||||
| Debt To Equity | 0.76 % | ||||
| Current Ratio | 0.83 X | ||||
| Book Value Per Share | 18.88 X | ||||
| Cash Flow From Operations | 12.35 B | ||||
| Short Ratio | 6.55 X | ||||
| Earnings Per Share | 3.52 X | ||||
| Price To Earnings To Growth | 0.33 X | ||||
| Target Price | 56.28 | ||||
| Number Of Employees | 10.27 K | ||||
| Beta | 1.88 | ||||
| Market Capitalization | 100.42 B | ||||
| Total Asset | 75.95 B | ||||
| Retained Earnings | 28.95 B | ||||
| Working Capital | (268 M) | ||||
| Current Asset | 4.06 B | ||||
| Current Liabilities | 4.59 B | ||||
| Annual Yield | 0.04 % | ||||
| Five Year Return | 3.54 % | ||||
| Net Asset | 75.95 B | ||||
| Last Dividend Paid | 2.08 |
About Canadian Natural Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Canadian Natural Resources's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Canadian Natural using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Canadian Natural Resources based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Canadian Natural
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canadian Natural position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Canadian Natural will appreciate offsetting losses from the drop in the long position's value.Moving against Canadian Stock
The ability to find closely correlated positions to Canadian Natural could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Natural when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Canadian Natural - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Canadian Natural Resources to buy it.
The correlation of Canadian Natural is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian Natural moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Natural Res moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canadian Natural can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Natural Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.