CNQ.TO vs. TRP.TO
Compare and contrast key facts about Canadian Natural Resources Limited (CNQ.TO) and TC Energy Corporation (TRP.TO).
Performance
CNQ.TO vs. TRP.TO - Performance Comparison
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CNQ.TO vs. TRP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 40.30% | 10.42% | 7.11% | 21.06% | 49.65% | 82.41% | -20.75% | 32.78% | -24.17% | 7.75% |
TRP.TO TC Energy Corporation | 15.51% | 18.35% | 51.38% | 3.03% | -2.77% | 20.35% | -20.74% | 48.50% | -16.00% | 5.23% |
Fundamentals
CNQ.TO:
CA$135.04B
TRP.TO:
CA$89.97B
CNQ.TO:
CA$5.19
TRP.TO:
CA$3.38
CNQ.TO:
12.46
TRP.TO:
25.55
CNQ.TO:
0.60
TRP.TO:
0.34
CNQ.TO:
3.25
TRP.TO:
5.94
CNQ.TO:
3.04
TRP.TO:
3.59
CNQ.TO:
CA$41.51B
TRP.TO:
CA$15.15B
CNQ.TO:
CA$12.51B
TRP.TO:
CA$7.55B
CNQ.TO:
CA$18.36B
TRP.TO:
CA$10.71B
Returns By Period
In the year-to-date period, CNQ.TO achieves a 40.30% return, which is significantly higher than TRP.TO's 15.51% return. Over the past 10 years, CNQ.TO has outperformed TRP.TO with an annualized return of 20.00%, while TRP.TO has yielded a comparatively lower 12.54% annualized return.
CNQ.TO
- 1D
- -4.75%
- 1M
- 7.67%
- YTD
- 40.30%
- 6M
- 49.30%
- 1Y
- 51.36%
- 3Y*
- 25.86%
- 5Y*
- 33.14%
- 10Y*
- 20.00%
TRP.TO
- 1D
- -0.78%
- 1M
- -1.91%
- YTD
- 15.51%
- 6M
- 17.52%
- 1Y
- 32.04%
- 3Y*
- 29.09%
- 5Y*
- 16.73%
- 10Y*
- 12.54%
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Return for Risk
CNQ.TO vs. TRP.TO — Risk / Return Rank
CNQ.TO
TRP.TO
CNQ.TO vs. TRP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ.TO) and TC Energy Corporation (TRP.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CNQ.TO | TRP.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.66 | 1.80 | -0.14 |
Sortino ratioReturn per unit of downside risk | 2.19 | 2.50 | -0.31 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.31 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 2.60 | 3.60 | -1.00 |
Martin ratioReturn relative to average drawdown | 8.44 | 8.73 | -0.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNQ.TO | TRP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.66 | 1.80 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 0.89 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.55 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.53 | +0.10 |
Correlation
The correlation between CNQ.TO and TRP.TO is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
CNQ.TO vs. TRP.TO - Dividend Comparison
CNQ.TO's dividend yield for the trailing twelve months is around 3.70%, less than TRP.TO's 3.97% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 3.70% | 5.06% | 4.82% | 4.26% | 6.12% | 3.66% | 5.44% | 3.50% | 3.98% | 2.40% | 2.15% | 3.02% |
TRP.TO TC Energy Corporation | 3.97% | 4.50% | 5.15% | 7.19% | 6.67% | 5.92% | 6.27% | 4.34% | 5.67% | 4.09% | 3.74% | 4.61% |
Drawdowns
CNQ.TO vs. TRP.TO - Drawdown Comparison
The maximum CNQ.TO drawdown since its inception was -76.20%, which is greater than TRP.TO's maximum drawdown of -60.13%. Use the drawdown chart below to compare losses from any high point for CNQ.TO and TRP.TO.
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Drawdown Indicators
| CNQ.TO | TRP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.20% | -60.13% | -16.07% |
Max Drawdown (1Y)Largest decline over 1 year | -20.44% | -9.18% | -11.26% |
Max Drawdown (5Y)Largest decline over 5 years | -33.11% | -33.81% | +0.70% |
Max Drawdown (10Y)Largest decline over 10 years | -76.20% | -36.30% | -39.90% |
Current DrawdownCurrent decline from peak | -6.94% | -1.91% | -5.03% |
Average DrawdownAverage peak-to-trough decline | -18.95% | -9.00% | -9.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.30% | 3.79% | +2.51% |
Volatility
CNQ.TO vs. TRP.TO - Volatility Comparison
Canadian Natural Resources Limited (CNQ.TO) has a higher volatility of 9.33% compared to TC Energy Corporation (TRP.TO) at 3.57%. This indicates that CNQ.TO's price experiences larger fluctuations and is considered to be riskier than TRP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNQ.TO | TRP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.33% | 3.57% | +5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 19.80% | 11.70% | +8.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.06% | 17.88% | +13.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.17% | 18.95% | +11.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.89% | 22.95% | +14.94% |
Financials
CNQ.TO vs. TRP.TO - Financials Comparison
This section allows you to compare key financial metrics between Canadian Natural Resources Limited and TC Energy Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CNQ.TO vs. TRP.TO - Profitability Comparison
CNQ.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Canadian Natural Resources Limited reported a gross profit of 2.04B and revenue of 9.61B. Therefore, the gross margin over that period was 21.2%.
TRP.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, TC Energy Corporation reported a gross profit of 2.03B and revenue of 4.08B. Therefore, the gross margin over that period was 49.7%.
CNQ.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Canadian Natural Resources Limited reported an operating income of 1.79B and revenue of 9.61B, resulting in an operating margin of 18.7%.
TRP.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, TC Energy Corporation reported an operating income of 1.80B and revenue of 4.08B, resulting in an operating margin of 44.2%.
CNQ.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Canadian Natural Resources Limited reported a net income of 5.30B and revenue of 9.61B, resulting in a net margin of 55.2%.
TRP.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, TC Energy Corporation reported a net income of 1.02B and revenue of 4.08B, resulting in a net margin of 24.9%.