Canadian Tax Provision vs Net Interest Income Analysis

CNQ Stock

USD 78.20 0.23 0.29%

Canadian Natural financial indicator trend analysis is way more than just evaluating Canadian Natural Res prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canadian Natural Res is a good investment. Please check the relationship between Canadian Natural Tax Provision and its Net Interest Income accounts. 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 tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

Tax Provision vs Net Interest Income

Tax Provision vs Net Interest Income Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canadian Natural Res Tax Provision account and Net Interest Income. At this time, the significance of the direction appears to have significant contrarian relationship.

The correlation between Canadian Natural's Tax Provision and Net Interest Income is -0.29. Overlapping area represents the amount of variation of Tax Provision that can explain the historical movement of Net Interest Income in the same time period over historical financial statements of Canadian Natural Resources, assuming nothing else is changed. The correlation between historical values of Canadian Natural's Tax Provision and Net Interest Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Tax Provision of Canadian Natural Resources are associated (or correlated) with its Net Interest Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Interest Income has no effect on the direction of Tax Provision i.e., Canadian Natural's Tax Provision and Net Interest Income go up and down completely randomly.

Correlation Coefficient

-0.29

Relationship Direction	Negative
Relationship Strength	Insignificant

View All Relationships

Tax Provision

The amount set aside by a company to cover any estimated taxes for the current period. It reflects the company's expected tax liabilities.

Net Interest Income

The difference between the revenue generated from a bank's interest-bearing assets and the expenses associated with paying its interest-bearing liabilities.

Most indicators from Canadian Natural's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canadian Natural Res current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. 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 tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

At this time, Canadian Natural's Selling General Administrative is relatively stable compared to the past year. As of 04/30/2024, Sales General And Administrative To Revenue is likely to grow to 0.03, while Enterprise Value Multiple is likely to drop 5.85.

	2021	2022	2023	2024 (projected)
Interest Expense	711M	549M	636M	333.6M
Depreciation And Amortization	5.7B	7.4B	6.8B	7.1B

Interest Expense Depreciation And Amortization

Canadian Natural fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Non Current Assets Total	Non Currrent Assets Other	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Inventory	Other Current Assets	Cash	Cash And Short Term Investments	Other Current Liab	Other Liab	Net Tangible Assets	Other Assets	Long Term Debt
Total Assets		0.81	0.75	0.8	1.0	0.78	0.78	0.51	1.0	0.12	0.66	-0.72	0.96	-0.2	0.98	0.51	0.61	0.52	0.01	0.3	0.47	0.28	0.63	0.62	0.66	0.75
Short Long Term Debt Total	0.81		0.42	0.56	0.83	1.0	0.51	0.2	0.83	-0.1	0.38	-0.5	0.93	-0.3	0.89	0.14	0.34	0.19	-0.04	-0.09	0.33	-0.04	0.5	0.47	0.89	0.98
Total Current Liabilities	0.75	0.42		0.95	0.73	0.39	0.93	0.89	0.73	0.43	0.93	-0.59	0.63	-0.18	0.69	0.89	0.92	0.88	0.29	0.76	0.75	0.68	0.78	0.82	0.34	0.41
Total Stockholder Equity	0.8	0.56	0.95		0.79	0.53	0.97	0.87	0.79	0.52	0.87	-0.65	0.73	-0.19	0.77	0.85	0.89	0.86	0.37	0.67	0.71	0.61	0.81	0.81	0.45	0.54
Property Plant And Equipment Net	1.0	0.83	0.73	0.79		0.8	0.77	0.48	1.0	0.1	0.63	-0.73	0.97	-0.2	0.99	0.48	0.57	0.49	-0.02	0.26	0.42	0.25	0.61	0.6	0.67	0.77
Net Debt	0.78	1.0	0.39	0.53	0.8		0.49	0.17	0.8	-0.12	0.34	-0.49	0.92	-0.29	0.87	0.1	0.31	0.15	-0.05	-0.13	0.29	-0.08	0.47	0.44	0.89	0.97
Retained Earnings	0.78	0.51	0.93	0.97	0.77	0.49		0.81	0.77	0.45	0.84	-0.78	0.69	-0.13	0.73	0.78	0.83	0.78	0.45	0.59	0.62	0.52	0.67	0.71	0.34	0.47
Accounts Payable	0.51	0.2	0.89	0.87	0.48	0.17	0.81		0.49	0.69	0.83	-0.37	0.39	-0.13	0.44	0.93	0.92	0.96	0.46	0.87	0.81	0.88	0.81	0.82	0.25	0.22
Non Current Assets Total	1.0	0.83	0.73	0.79	1.0	0.8	0.77	0.49		0.11	0.63	-0.73	0.97	-0.2	0.99	0.48	0.58	0.49	-0.01	0.26	0.43	0.25	0.61	0.6	0.67	0.77
Non Currrent Assets Other	0.12	-0.1	0.43	0.52	0.1	-0.12	0.45	0.69	0.11		0.39	0.01	0.04	0.0	0.06	0.64	0.51	0.73	0.48	0.64	0.32	0.61	0.56	0.57	-0.01	-0.09
Net Receivables	0.66	0.38	0.93	0.87	0.63	0.34	0.84	0.83	0.63	0.39		-0.51	0.56	-0.02	0.62	0.86	0.96	0.85	0.33	0.76	0.78	0.62	0.75	0.74	0.29	0.37
Common Stock Shares Outstanding	-0.72	-0.5	-0.59	-0.65	-0.73	-0.49	-0.78	-0.37	-0.73	0.01	-0.51		-0.65	-0.1	-0.68	-0.3	-0.4	-0.28	-0.3	-0.07	-0.19	-0.08	-0.2	-0.23	-0.2	-0.39
Non Current Liabilities Total	0.96	0.93	0.63	0.73	0.97	0.92	0.69	0.39	0.97	0.04	0.56	-0.65		-0.22	0.99	0.37	0.5	0.39	-0.06	0.14	0.4	0.14	0.61	0.57	0.79	0.89
Other Stockholder Equity	-0.2	-0.3	-0.18	-0.19	-0.2	-0.29	-0.13	-0.13	-0.2	0.0	-0.02	-0.1	-0.22		-0.22	-0.18	-0.16	-0.17	-0.09	-0.13	-0.29	-0.09	-0.27	-0.41	-0.36	-0.28
Total Liab	0.98	0.89	0.69	0.77	0.99	0.87	0.73	0.44	0.99	0.06	0.62	-0.68	0.99	-0.22		0.43	0.56	0.45	-0.05	0.21	0.44	0.2	0.63	0.6	0.75	0.85
Property Plant And Equipment Gross	0.51	0.14	0.89	0.85	0.48	0.1	0.78	0.93	0.48	0.64	0.86	-0.3	0.37	-0.18	0.43		0.94	0.98	0.37	0.96	0.82	0.81	0.81	0.81	0.17	0.17
Total Current Assets	0.61	0.34	0.92	0.89	0.57	0.31	0.83	0.92	0.58	0.51	0.96	-0.4	0.5	-0.16	0.56	0.94		0.93	0.43	0.86	0.9	0.75	0.83	0.82	0.35	0.36
Inventory	0.52	0.19	0.88	0.86	0.49	0.15	0.78	0.96	0.49	0.73	0.85	-0.28	0.39	-0.17	0.45	0.98	0.93		0.37	0.93	0.8	0.84	0.87	0.86	0.25	0.22
Other Current Assets	0.01	-0.04	0.29	0.37	-0.02	-0.05	0.45	0.46	-0.01	0.48	0.33	-0.3	-0.06	-0.09	-0.05	0.37	0.43	0.37		0.3	0.34	0.29	0.1	0.25	-0.14	-0.13
Cash	0.3	-0.09	0.76	0.67	0.26	-0.13	0.59	0.87	0.26	0.64	0.76	-0.07	0.14	-0.13	0.21	0.96	0.86	0.93	0.3		0.79	0.85	0.72	0.7	0.01	-0.03
Cash And Short Term Investments	0.47	0.33	0.75	0.71	0.42	0.29	0.62	0.81	0.43	0.32	0.78	-0.19	0.4	-0.29	0.44	0.82	0.9	0.8	0.34	0.79		0.72	0.77	0.71	0.45	0.39
Other Current Liab	0.28	-0.04	0.68	0.61	0.25	-0.08	0.52	0.88	0.25	0.61	0.62	-0.08	0.14	-0.09	0.2	0.81	0.75	0.84	0.29	0.85	0.72		0.66	0.65	0.12	0.01
Other Liab	0.63	0.5	0.78	0.81	0.61	0.47	0.67	0.81	0.61	0.56	0.75	-0.2	0.61	-0.27	0.63	0.81	0.83	0.87	0.1	0.72	0.77	0.66		0.91	0.64	0.57
Net Tangible Assets	0.62	0.47	0.82	0.81	0.6	0.44	0.71	0.82	0.6	0.57	0.74	-0.23	0.57	-0.41	0.6	0.81	0.82	0.86	0.25	0.7	0.71	0.65	0.91		0.54	0.48
Other Assets	0.66	0.89	0.34	0.45	0.67	0.89	0.34	0.25	0.67	-0.01	0.29	-0.2	0.79	-0.36	0.75	0.17	0.35	0.25	-0.14	0.01	0.45	0.12	0.64	0.54		0.93
Long Term Debt	0.75	0.98	0.41	0.54	0.77	0.97	0.47	0.22	0.77	-0.09	0.37	-0.39	0.89	-0.28	0.85	0.17	0.36	0.22	-0.13	-0.03	0.39	0.01	0.57	0.48	0.93

Click cells to compare fundamentals

Canadian Natural Account Relationship Matchups

Canadian Natural fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	78.1B	75.3B	76.7B	76.1B	76.0B	40.8B
Short Long Term Debt Total	21.0B	21.5B	14.7B	11.4B	12.4B	9.9B
Total Current Liabilities	6.6B	5.1B	7.4B	8.7B	7.4B	7.8B
Total Stockholder Equity	35.0B	32.4B	36.9B	38.2B	39.8B	41.8B
Property Plant And Equipment Net	72.4B	69.8B	70.2B	68.5B	66.0B	37.6B
Net Debt	20.8B	21.3B	14.0B	10.5B	11.5B	9.7B
Retained Earnings	25.4B	22.8B	26.8B	27.7B	28.9B	30.4B
Accounts Payable	816M	667M	803M	1.3B	1.4B	1.5B
Non Current Assets Total	73.6B	70.9B	70.7B	69.1B	68.8B	38.1B
Non Currrent Assets Other	1.2B	951M	430M	547M	2.7B	2.9B
Net Receivables	2.5B	2.5B	3.1B	3.6B	3.2B	3.3B
Common Stock Shares Outstanding	1.2B	1.2B	1.2B	1.1B	1.1B	1.3B
Liabilities And Stockholders Equity	78.1B	75.3B	76.7B	76.1B	76.0B	40.8B
Non Current Liabilities Total	36.5B	37.8B	32.3B	29.3B	28.7B	18.6B
Total Liab	43.1B	42.9B	39.7B	38.0B	36.1B	22.2B
Property Plant And Equipment Gross	72.4B	69.8B	140.8B	146.1B	150.6B	158.1B
Total Current Assets	4.5B	4.4B	5.9B	7.1B	7.2B	7.5B
Accumulated Other Comprehensive Income	34M	8M	(1M)	209M	172M	180.6M
Inventory	1.2B	1.1B	1.5B	1.8B	2.0B	2.1B
Other Current Assets	54M	82M	35M	61M	542M	569.1M
Cash	139M	184M	744M	920M	877M	920.9M
Cash And Short Term Investments	629M	489M	1.1B	1.4B	1.4B	1.5B
Other Current Liab	819M	722M	948M	6.9B	4.7B	5.0B
Other Liab	16.3B	16.2B	17.2B	17.0B	19.5B	20.5B
Net Tangible Assets	35.0B	32.4B	36.9B	38.2B	43.9B	46.1B
Other Assets	1.2B	1.1B	565M	553M	636.0M	425.8M
Long Term Debt	18.6B	20.1B	13.7B	11.0B	9.8B	11.0B
Common Stock Total Equity	9.1B	9.3B	9.5B	9.6B	11.0B	11.6B
Short Term Investments	490M	305M	309M	491M	525M	272.4M
Short Long Term Debt	2.4B	1.3B	1B	404M	980M	967.5M
Short Term Debt	2.4B	1.3B	1B	404M	1.3B	860.4M
Common Stock	9.5B	9.6B	10.2B	10.3B	10.7B	11.2B
Property Plant Equipment	72.4B	69.8B	70.2B	68.5B	78.8B	44.5B
Current Deferred Revenue	151M	2.6B	2.3B	4.7B	5.4B	5.6B
Long Term Debt Total	20.4B	21.6B	15.1B	12.3B	14.2B	18.4B
Capital Lease Obligations	2.0B	1.9B	1.6B	1.5B	1.8B	1.9B
Non Current Liabilities Other	7.4B	5.9B	7.0B	8.2B	8.7B	5.3B
Cash And Equivalents	139M	184M	744M	920M	1.1B	1.1B
Net Invested Capital	56.0B	53.8B	51.6B	49.6B	50.6B	42.1B

Canadian Natural Investors Sentiment

The influence of Canadian Natural's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Canadian. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.

Investor biases related to Canadian Natural's public news can be used to forecast risks associated with an investment in Canadian. The trend in average sentiment can be used to explain how an investor holding Canadian can time the market purely based on public headlines and social activities around Canadian Natural Resources. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.

Canadian Natural's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Canadian Natural's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Canadian Natural's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Canadian Natural.

Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Canadian Natural in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Canadian Natural's short interest history, or implied volatility extrapolated from Canadian Natural options trading.

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 together with Canadian Stock

0.93	AR	Antero Resources Corp	Pair Corr
0.97	PR	Permian Resources Financial Report 13th of May 2024	Pair Corr
0.96	SD	SandRidge Energy	Pair Corr
0.98	SM	SM Energy	Pair Corr

Moving against Canadian Stock

0.68

Empire Petroleum Corp

Pair Corr

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.

Pair Correlation Correlation Matching

When determining whether Canadian Natural Res is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Canadian Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Canadian Natural Resources Stock. Highlighted below are key reports to facilitate an investment decision about Canadian Natural Resources Stock:

How To Invest In Canadian

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Is Canadian Stock a good investment?

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What is Canadian Natural's Net Worth?

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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 tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

You can also try the Stocks Directory module to find actively traded stocks across global markets.

Complementary Tools for Canadian Stock analysis

When running Canadian Natural's price analysis, check to measure Canadian Natural's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canadian Natural is operating at the current time. Most of Canadian Natural's value examination focuses on studying past and present price action to predict the probability of Canadian Natural's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Natural's price. Additionally, you may evaluate how the addition of Canadian Natural to your portfolios can decrease your overall portfolio volatility.

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Is Canadian Natural's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canadian Natural. If investors know Canadian will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canadian Natural listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.

Quarterly Earnings Growth

0.765

Dividend Share

3.7

Earnings Share

5.45

Revenue Per Share

32.958

Quarterly Revenue Growth

(0.01)

The market value of Canadian Natural Res is measured differently than its book value, which is the value of Canadian that is recorded on the company's balance sheet. Investors also form their own opinion of Canadian Natural's value that differs from its market value or its book value, called intrinsic value, which is Canadian Natural's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canadian Natural's market value can be influenced by many factors that don't directly affect Canadian Natural's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.

Please note, there is a significant difference between Canadian Natural's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canadian Natural is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canadian Natural's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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Canadian Tax Provision vs Net Interest Income Analysis

Tax Provision vs Net Interest Income

Tax Provision vs Net Interest Income Correlation Analysis

Correlation Coefficient

Tax Provision

Net Interest Income

Canadian Natural fundamental ratios Correlations

Canadian Natural Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Canadian Natural fundamental ratios Accounts

Canadian Natural Investors Sentiment

Pair Trading with Canadian Natural

Moving together with Canadian Stock

Moving against Canadian Stock

Complementary Tools for Canadian Stock analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Property Plant And Equipment Net	+ 1.0	Total Assets
Non Current Assets Total	+ 1.0	Total Assets
Net Debt	+ 1.0	Short Long Term Debt Total
Non Current Assets Total	+ 1.0	Property Plant And Equipment Net
Total Liab	+ 0.99	Property Plant And Equipment Net
Total Liab	+ 0.99	Non Current Assets Total

Common Stock Shares Outstanding	- 0.78	Retained Earnings
Common Stock Shares Outstanding	- 0.73	Non Current Assets Total
Common Stock Shares Outstanding	- 0.73	Property Plant And Equipment Net
Common Stock Shares Outstanding	- 0.72	Total Assets
Total Liab	- 0.68	Common Stock Shares Outstanding
Non Current Liabilities Total	- 0.65	Common Stock Shares Outstanding