Side by sideCanadian Natural Resources (CNQ.TO) and Tourmaline (TOU.TO)Memos of October 20, 2026 and October 17, 2026
Canadian Natural Resources vs Tourmaline stock: side by side (October 2026)
How do Canadian Natural Resources and Tourmaline compare?
| Canadian Natural Resources CNQ.TO | Tourmaline TOU.TO | |
|---|---|---|
| Revenue growth | 8.7%2025 | 11.6%2025 |
| Free cash flow | 9,038C$ millions · 2025 | 386,646C$ thousands · 2025 |
| Free cash flow yield | 5.7%Today (Oct 20, 2026) | 1.5%Today (Oct 17, 2026) |
| Dividend yield | 3.3%Today (Oct 20, 2026) | 3.0%Today (Oct 17, 2026) |
| P/E, last 12 months | 13.6xToday (Oct 20, 2026) | 68.9xToday (Oct 17, 2026) |
| P/E, next 12 months | 13.0xToday (Oct 20, 2026) | 13.2xToday (Oct 17, 2026) |
| Weighted price forecast, about 1 year | 90.70 (+22 %)October 2027 | 67.17 (+5 %)October 2027 |
| Weighted price forecast, about 3 years | 87.66 (+26 %)October 2029 | 76.96 (+27 %)October 2029 |
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Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | Tourmaline | The higher figure |
| Free cash flow | — | The higher figure |
| Free cash flow yield | Canadian Natural Resources | The higher figure |
| Dividend yield | Canadian Natural Resources | The higher figure |
| P/E, last 12 months | Canadian Natural Resources | The lower figure |
| P/E, next 12 months | Canadian Natural Resources | The lower figure |
| Weighted price forecast, about 1 year | Canadian Natural Resources | The higher weighted return |
| Weighted price forecast, about 3 years | Tourmaline | The higher weighted return |
What does each company do?
Canadian Natural Resources sells oil, natural gas and natural gas liquids (NGLs) to refiners, marketers, utilities and industrial buyers.
Canadian Natural Resources (CNQ.TO), from our memo of October 20, 2026 · Canadian Natural Resources stock forecast
Tourmaline Oil Corp. produces gas and liquids from western Canada for commercial buyers, including marketers—companies that buy and sell natural gas—and pipeline-connected customers.
Tourmaline (TOU.TO), from our memo of October 17, 2026 · Tourmaline stock forecast
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More on Canadian Natural Resources
Canadian Natural Resources stock forecastCanadian Natural Resources dividendCanadian Natural Resources earnings