COMP <GO>

CNQ vs BHP // ALTMAN Z-SCORE & DEBT/EQUITY

Canadian Natural Resources Limited (NYSE) VS. BHP Group Limited American (NYSE) • 15-METRIC TALLY: CNQ 4 — BHP 1

■ METRIC PARITY

LAST: $56.11 (+1.85%) • MKT CAP: $113.97B

balance-sheet

3.74

LAST: $79.16 (-3.25%) • MKT CAP: $207.99B

balance-sheet

3.74

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (CNQ VS. BHP) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	CNQ	BHP	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	41.00%	0.00	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.90%	9.90%	0.00	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	21.0x	21.0x	0.00	TIE	/valuation <GO>
Free Cash Flow Yield	2.21%	2.21%	0.00	TIE	/fcf-yield <GO>
Operating Margin	13.90%	13.90%	0.00	TIE	/operating-margins <GO>
Net Profit Margin	10.90%	10.90%	0.00	TIE	/net-margins <GO>
Revenue Growth (YoY)	12.10%	-3.30%	+15.40	CNQ	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity ACTIVE	3.74	3.74	0.00	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	7/9	+1.00	CNQ	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.40%	7.40%	0.00	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	72.9	37.5	+35.38	CNQ	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.14	1.14	0.00	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	27.6x	30.5x	-2.90	CNQ	/forward-pe <GO>
Enterprise Scale & Market Cap	$113.97B	$207.99B	-$94.02B	BHP	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	CNQ REV	BHP REV	CNQ GROSS %	BHP GROSS %	CNQ FCF	BHP FCF
INSPECT INDIVIDUAL XBRL MODELS AT CNQ FA <GO> AND BHP FA <GO>.

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

CNQ // BETA 1.14

BHP // BETA 1.14