Canadian Natural Resources Limited(CNQ)Earnings, Financials & Key Ratios
CNQ•NYSE
$47.85
$99.81B mkt cap·12.6× P/E·Price updated May 6, 2026
AboutCanadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream and refining assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. As of December 31, 2020, the company had total proved crude oil, bitumen, and NGLs reserves were 10,528 million barrels (MMbbl); total proved plus probable crude oil, bitumen, and NGLs reserves were 13,271 MMbbl; proved SCO reserves were 6,998 MMbbl; total proved plus probable SCO reserves were 7,535 MMbbl; proved natural gas reserves were 12,168 billion cubic feet (Bcf); and total proved plus probable natural gas reserves were 20,249 Bcf. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.Show more
- Revenue$38.73B+8.6%
- EBITDA$17.98B-23.0%
- Net Income$10.81B+77.1%
- EPS (Diluted)5.16+81.1%
- Gross Margin23.27%-52.8%
- EBITDA Margin46.41%-29.1%
- Operating Margin21.22%-55.0%
- Net Margin27.91%+63.0%
- ROE25.8%+67.6%
- ROIC10.02%-56.5%
- Debt/Equity0.44-13.5%
- Interest Coverage9.86-31.7%
CNQ Key Insights
Canadian Natural Resources Limited (CNQ) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 20.8%
- ✓Strong Piotroski F-Score: 8/9
- ✓FCF machine: 21.7% free cash flow margin
- ✓Momentum leader: RS Rating 84 (top 16%)
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 17.2%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
CNQ Price & Volume
Canadian Natural Resources Limited (CNQ) stock price & volume — 10-year historical chart
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CNQ Growth Metrics
Canadian Natural Resources Limited (CNQ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years11.39%
5 Years17.23%
3 Years-7.87%
TTM-0.01%
Profit CAGR
10 Years-
5 Years-
3 Years-0.38%
TTM77.13%
EPS CAGR
10 Years-
5 Years-
3 Years2.3%
TTM80.77%
Return on Capital
10 Years12.54%
5 Years17.18%
3 Years16.33%
Last Year10.31%
CNQ Recent Earnings
Canadian Natural Resources Limited (CNQ) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
Mar 5, 2026EPS
$0.59
Est $0.53
+11.3%
Revenue
$7.0B
Est $7.0B
-0.4%
Q4 2025
Nov 6, 2025EPS
$0.62
Est $0.54
+14.8%
Revenue
$6.8B
Est $6.6B
+2.8%
Q3 2025
Aug 7, 2025EPS
$0.51
Est $0.44
+15.9%
Revenue
$7.1B
Est $7.0B
+0.7%
Q2 2025
May 8, 2025EPS
$0.81
Est $0.73
+11.0%
Revenue
$8.9B
Est $6.4B
+39.4%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 5, 2026 | $0.59vs $0.53+11.3% | $7.0Bvs $7.0B-0.4% |
| Q4 2025 | Nov 6, 2025 | $0.62vs $0.54+14.8% | $6.8Bvs $6.6B+2.8% |
| Q3 2025 | Aug 7, 2025 | $0.51vs $0.44+15.9% | $7.1Bvs $7.0B+0.7% |
| Q2 2025 | May 8, 2025 | $0.81vs $0.73+11.0% | $8.9Bvs $6.4B+39.4% |
Based on last 12 quarters of dataView full earnings history →
CNQ Peer Comparison
Canadian Natural Resources Limited (CNQ) competitors in Canadian oil sands and heavy oil producers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CVE | 57.44B | 30.45 | 19.24 | -13.98% | 5.66% | 11.07% | 4.36% | 0.54 |
 SU | 82.97B | 69.68 | 19.52 | -3.51% | 12.1% | 13.18% | 6.14% | 0.41 |
 IMO | 66.11B | 132.95 | 27.88 | -3.65% | 6.94% | 14.73% | 5.23% | 0.19 |
 MEG | 766.38M | 21.33 | -152.36 | 19.26% | -0.1% | -0.19% | 11.89% | 0.18 |
 OVV | 15.98B | 63.08 | 13.20 | -4.55% | 14.13% | 11.09% | 9.42% | 0.67 |
 COP | 150.31B | 123.32 | 19.42 | 7.51% | 12.56% | 11.29% | 11.16% | 0.36 |
 EOG | 75.44B | 140.82 | 15.46 | -3.47% | 23.41% | 18.28% | 5.21% | 0.28 |
 DVN | 31.69B | 50.99 | 12.14 | 10.01% | 15.91% | 17.34% | 9.84% | 0.57 |
Compare CNQ vs Peers
Canadian Natural Resources Limited (CNQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CNQ Income Statement
Canadian Natural Resources Limited (CNQ) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 17.67B | 22.28B | 22.87B | 17.49B | 32.85B | 49.53B | 40.84B | 35.66B | 38.73B |
| Revenue Growth % | 59.21% | 26.11% | 2.64% | -23.52% | 87.83% | 50.76% | -17.55% | -12.68% | 8.62% |
| Cost of Goods Sold | 14.72B | 17.07B | 10.98B | 17.42B | 22.28B | 33.27B | 29.06B | 18.08B | 29.72B |
| COGS % of Revenue | 83.29% | 76.6% | 47.99% | 99.61% | 67.81% | 67.17% | 71.17% | 50.7% | 76.73% |
| Gross Profit | 2.95B▲ 0% | 5.21B▲ 76.6% | 11.89B▲ 128.2% | 69M▼ 99.4% | 10.58B▲ 15229.0% | 16.26B▲ 53.7% | 11.77B▼ 27.6% | 17.58B▲ 49.3% | 9.01B▼ 48.7% |
| Gross Margin % | 16.71% | 23.4% | 52.01% | 0.39% | 32.19% | 32.83% | 28.83% | 49.3% | 23.27% |
| Gross Profit Growth % | 775.51% | 76.59% | 128.18% | -99.42% | 15228.99% | 53.73% | -27.6% | 49.32% | -48.72% |
| Operating Expenses | 2.95B | 5.21B | 567M | 69M | 1.06B | 1.5B | 1.31B | 782M | 794.35M |
| OpEx % of Revenue | 16.71% | 23.4% | 2.48% | 0.39% | 3.24% | 3.03% | 3.21% | 2.19% | 2.05% |
| Selling, General & Admin | 453M | 179M | 567M | 309M | 880M | 1.22B | 943M | 782M | 794.35M |
| SG&A % of Revenue | 2.56% | 0.8% | 2.48% | 1.77% | 2.68% | 2.46% | 2.31% | 2.19% | 2.05% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 186M | 0 | -240M | 185M | 281M | 366M | 0 | 0 |
| Operating Income | 2.33B▲ 0% | 4.85B▲ 107.6% | 11.33B▲ 133.7% | 0▼ 100.0% | 9.51B▲ 0% | 14.76B▲ 55.2% | 10.46B▼ 29.1% | 16.8B▲ 60.5% | 8.22B▼ 51.1% |
| Operating Margin % | 13.22% | 21.76% | 49.53% | - | 28.95% | 29.8% | 25.63% | 47.11% | 21.22% |
| Operating Income Growth % | 282.56% | 107.62% | 133.66% | -100% | - | 55.17% | -29.11% | 60.52% | -51.07% |
| EBITDA | 7.52B | 10.2B | 17.06B | 6B | 15.24B | 22.11B | 16.88B | 23.34B | 17.98B |
| EBITDA Margin % | 42.57% | 45.75% | 74.61% | 34.31% | 46.37% | 44.65% | 41.33% | 65.47% | 46.41% |
| EBITDA Growth % | 102.12% | 35.55% | 67.38% | -64.83% | 153.89% | 45.14% | -23.68% | 38.31% | -22.99% |
| D&A (Non-Cash Add-back) | 5.19B | 5.35B | 5.74B | 6.05B | 5.72B | 7.35B | 6.41B | 6.55B | 9.76B |
| EBIT | 3.6B | 4.32B | 5.54B | -45M | 10.65B | 14.37B | 10.86B | 9.72B | 8.22B |
| Net Interest Income | -631M | -739M | -836M | -756M | -711M | -549M | -636M | -592M | -833.32M |
| Interest Income | 97M | 59M | 76M | 72M | 32M | 121M | 55M | 81M | 0 |
| Interest Expense | 728M | 798M | 912M | 828M | 743M | 670M | 691M | 673M | 833.32M |
| Other Income/Expense | 538M | -1.33B | -5.45B | -873M | 399M | -1.06B | -299M | -8.74B | 5.01B |
| Pretax Income | 2.87B▲ 0% | 3.52B▲ 22.6% | 5.88B▲ 66.8% | -873M▼ 114.9% | 9.91B▲ 1235.3% | 13.7B▲ 38.3% | 10.16B▼ 25.8% | 8.06B▼ 20.7% | 13.23B▲ 64.2% |
| Pretax Margin % | 16.26% | 15.81% | 25.69% | -4.99% | 30.17% | 27.67% | 24.89% | 22.6% | 34.16% |
| Income Tax | 476M | 931M | 460M | -438M | 2.25B | 2.77B | 1.93B | 1.95B | 2.42B |
| Effective Tax Rate % | 16.57% | 26.43% | 7.83% | 50.17% | 22.67% | 20.19% | 19.01% | 24.23% | 18.28% |
| Net Income | 2.4B▲ 0% | 2.59B▲ 8.1% | 5.42B▲ 109.0% | -435M▼ 108.0% | 7.66B▲ 1861.8% | 10.94B▲ 42.7% | 8.23B▼ 24.7% | 6.11B▼ 25.8% | 10.81B▲ 77.1% |
| Net Margin % | 13.57% | 11.63% | 23.68% | -2.49% | 23.33% | 22.08% | 20.16% | 17.12% | 27.91% |
| Net Income Growth % | 1275% | 8.09% | 109.03% | -108.03% | 1861.84% | 42.71% | -24.72% | -25.84% | 77.06% |
| Net Income (Continuing) | 2.4B | 2.59B | 5.42B | -435M | 7.66B | 10.94B | 8.23B | 6.11B | 10.81B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.02▲ 0% | 1.06▲ 3.9% | 2.27▲ 114.2% | -0.18▼ 107.9% | 3.24▲ 1900.0% | 4.82▲ 48.8% | 3.74▼ 22.4% | 2.85▼ 23.8% | 5.16▲ 81.1% |
| EPS Growth % | 1173.68% | 3.92% | 114.15% | -107.93% | 1900% | 48.77% | -22.41% | -23.8% | 81.05% |
| EPS (Basic) | 1.02 | 1.06 | 2.27 | -0.18 | 3.24 | 4.82 | 3.74 | 2.87 | 5.17 |
| Diluted Shares Outstanding | 2.37B | 2.44B | 2.38B | 2.36B | 2.36B | 2.27B | 2.2B | 2.14B | 2.1B |
| Basic Shares Outstanding | 2.36B | 2.44B | 2.38B | 2.35B | 2.36B | 2.27B | 2.18B | 2.14B | 2.09B |
| Dividend Payout Ratio | 52.23% | 60.29% | 32.18% | - | 22.39% | 45.04% | 47.26% | 72.54% | 45.02% |
CNQ Balance Sheet
Canadian Natural Resources Limited (CNQ) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 4.9B | 3.02B | 3.46B | 3.42B | 5.94B | 7.06B | 7.17B | 7.41B | 7.66B |
| Cash & Short-Term Investments | 1.03B | 625M | 485.06M | 383.83M | 1.05B | 1.41B | 1.4B | 131M | 672.45M |
| Cash Only | 137M | 101M | 107.19M | 144.43M | 744M | 920M | 877M | 131M | 672.45M |
| Short-Term Investments | 893M | 524M | 377.87M | 239.4M | 309M | 491M | 525M | 0 | 0 |
| Accounts Receivable | 2.72B | 1.15B | 1.91B | 1.96B | 3.11B | 3.56B | 3.19B | 4.13B | 4B |
| Days Sales Outstanding | 56.17 | 18.81 | 30.5 | 40.93 | 34.56 | 26.2 | 28.5 | 42.24 | 37.66 |
| Inventory | 894M | 955M | 888.37M | 832.03M | 1.55B | 1.81B | 2.03B | 2.79B | 2.62B |
| Days Inventory Outstanding | 22.17 | 20.42 | 29.54 | 17.43 | 25.36 | 19.91 | 25.55 | 56.39 | 32.17 |
| Other Current Assets | 79M | 116M | 175.82M | 245.68M | 35M | 276M | 542M | 355M | 370.7M |
| Total Non-Current Assets | 68.97B | 68.54B | 58.83B | 55.66B | 70.72B | 69.08B | 68.79B | 77.95B | 84.1B |
| Property, Plant & Equipment | 67.8B | 67.2B | 53.85B | 52.9B | 70.16B | 68.53B | 68.25B | 77.33B | 80.58B |
| Fixed Asset Turnover | 0.26x | 0.33x | 0.42x | 0.33x | 0.47x | 0.72x | 0.60x | 0.46x | 0.48x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 292M | 287M | 217.47M | 102.83M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 876M | 1.06B | 2.71B | 2.66B | 565M | 553M | 541M | 620M | 3.52B |
| Total Assets | 73.87B▲ 0% | 71.56B▼ 3.1% | 62.29B▼ 13.0% | 59.09B▼ 5.1% | 76.67B▲ 29.8% | 76.14B▼ 0.7% | 75.95B▼ 0.2% | 85.36B▲ 12.4% | 91.76B▲ 7.5% |
| Asset Turnover | 0.24x | 0.31x | 0.37x | 0.30x | 0.43x | 0.65x | 0.54x | 0.42x | 0.42x |
| Asset Growth % | 25.95% | -3.12% | -12.95% | -5.14% | 29.75% | -0.68% | -0.25% | 12.38% | 7.49% |
| Total Current Liabilities | 6.26B | 4.76B | 5.12B | 3.99B | 7.42B | 8.65B | 7.43B | 9.63B | 8.06B |
| Accounts Payable | 775M | 779M | 629.27M | 523.55M | 803M | 1.34B | 1.42B | 1.08B | 1.1B |
| Days Payables Outstanding | 19.22 | 16.66 | 20.93 | 10.97 | 13.16 | 14.71 | 17.81 | 21.79 | 13.56 |
| Short-Term Debt | 1.88B | 1.14B | 2.02B | 1.2B | 1B | 404M | 980M | 2.4B | 813.34M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.01B | 394M | 2.29B | 2.17B | 2.04B | 1.13B | 1.5B | 909M | 5.23B |
| Current Ratio | 0.78x | 0.63x | 0.68x | 0.86x | 0.80x | 0.82x | 0.96x | 0.77x | 0.95x |
| Quick Ratio | 0.64x | 0.43x | 0.50x | 0.65x | 0.59x | 0.61x | 0.69x | 0.48x | 0.63x |
| Cash Conversion Cycle | 59.12 | 22.57 | 39.11 | 47.4 | 46.77 | 31.4 | 36.24 | 76.84 | 56.26 |
| Total Non-Current Liabilities | 35.95B | 34.82B | 30.19B | 29.68B | 32.3B | 29.32B | 28.69B | 36.26B | 39.37B |
| Long-Term Debt | 20.58B | 19.48B | 14.34B | 15.78B | 13.69B | 11.04B | 9.82B | 16.42B | 16.16B |
| Capital Lease Obligations | 0 | 0 | 1.22B | 1.18B | 1.4B | 1.3B | 0 | 1.21B | 2.73B |
| Deferred Tax Liabilities | 10.97B | 11.45B | 10.17B | 7.96B | 10.22B | 10.11B | 10.18B | 10.54B | 11.28B |
| Other Non-Current Liabilities | 4.4B | 3.89B | 4.46B | 4.76B | 6.99B | 6.87B | 8.69B | 8.09B | 9.2B |
| Total Liabilities | 42.21B | 39.59B | 35.31B | 33.67B | 39.72B | 37.97B | 36.12B | 45.89B | 47.43B |
| Total Debt | 22.46B | 20.62B | 17.58B | 18.17B | 16.28B | 12.98B | 10.8B | 20.28B | 19.71B |
| Net Debt | 22.32B | 20.52B | 17.47B | 18.02B | 15.53B | 12.06B | 9.92B | 20.15B | 19.03B |
| Debt / Equity | 0.71x | 0.64x | 0.65x | 0.71x | 0.44x | 0.34x | 0.27x | 0.51x | 0.44x |
| Debt / EBITDA | 2.99x | 2.02x | 1.03x | 3.03x | 1.07x | 0.59x | 0.64x | 0.87x | 1.10x |
| Net Debt / EBITDA | 2.97x | 2.01x | 1.02x | 3.00x | 1.02x | 0.55x | 0.59x | 0.86x | 1.06x |
| Interest Coverage | 4.95x | 5.41x | 6.08x | -0.05x | 14.34x | 21.45x | 15.71x | 14.44x | 9.86x |
| Total Equity | 31.65B▲ 0% | 31.97B▲ 1.0% | 26.98B▼ 15.6% | 25.42B▼ 5.8% | 36.95B▲ 45.4% | 38.17B▲ 3.3% | 39.83B▲ 4.3% | 39.47B▼ 0.9% | 44.33B▲ 12.3% |
| Equity Growth % | 20.5% | 1.01% | -15.61% | -5.81% | 45.36% | 3.33% | 4.34% | -0.91% | 12.32% |
| Book Value per Share | 13.38 | 13.12 | 11.33 | 10.75 | 15.64 | 16.82 | 18.07 | 18.44 | 21.13 |
| Total Shareholders' Equity | 31.65B | 31.97B | 26.98B | 25.42B | 36.95B | 38.17B | 39.83B | 39.47B | 44.33B |
| Common Stock | 9.11B | 9.32B | 7.35B | 7.54B | 10.17B | 10.29B | 10.71B | 11.06B | 11.41B |
| Retained Earnings | 22.61B | 22.53B | 19.61B | 17.87B | 26.78B | 27.67B | 28.95B | 28.1B | 32.7B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -68M | 122M | 26.22M | 6.28M | -1M | 209M | 172M | 301M | 218.82M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CNQ Cash Flow Statement
Canadian Natural Resources Limited (CNQ) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 7.26B | 10.12B | 8.83B | 4.71B | 11.45B | 19.39B | 12.35B | 13.39B | 15.09B |
| Operating CF Margin % | 41.1% | 45.42% | 38.6% | 26.95% | 34.84% | 39.15% | 30.25% | 37.54% | 38.97% |
| Operating CF Growth % | 110.37% | 39.37% | -12.77% | -46.61% | 142.82% | 69.41% | -36.3% | 8.36% | 12.76% |
| Net Income | 2.4B | 2.59B | 5.42B | -435M | 6.06B | 10.94B | 8.23B | 6.11B | 10.81B |
| Depreciation & Amortization | 4.01B | 5.9B | 5.74B | 6.25B | 4.67B | 7.35B | 6.78B | 6.91B | 9.76B |
| Stock-Based Compensation | 134M | -146M | 223M | -82M | 0 | 804M | 491M | 279M | 0 |
| Deferred Taxes | 640M | 557M | 0 | 0 | 315.45M | -139M | 53M | 422M | 509.58M |
| Other Non-Cash Items | -220M | -127M | -1.51B | -854M | -362.09M | 357M | -786M | 412M | -6.65B |
| Working Capital Changes | 299M | 1.35B | -1.03B | -166M | 762.14M | 79M | -2.42B | -743M | 671.45M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -13.1B | -4.81B | -7.25B | -2.82B | -2.93B | -4.99B | -4.86B | -14.1B | -6.68B |
| Capital Expenditures | -4.57B | -4.17B | -3.61B | -2.56B | -3.55B | -5.1B | -4.91B | -5.38B | -6.79B |
| CapEx % of Revenue | 25.89% | 18.74% | 15.78% | 14.64% | 10.81% | 10.3% | 12.02% | 15.1% | 17.52% |
| Acquisitions | -8.63B | 0 | -3.41B | 0 | 0 | 0 | 0 | -9.16B | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 102M | -639M | -235M | -259M | 523.38M | 116M | 51M | 451M | 103.92M |
| Cash from Financing | 5.96B | -5.34B | -1.54B | -1.85B | -8.08B | -14.23B | -7.54B | -37M | -7.87B |
| Debt Issued (Net) | 6.75B | -2.83B | 788M | 97M | -5.5B | -4.24B | -701M | 6.77B | -1.46B |
| Equity Issued (Net) | 0 | -1.28B | -941M | -271M | -690.98M | -5.57B | -3.32B | -2.66B | -1.18B |
| Dividends Paid | -1.25B | -1.56B | -1.74B | -1.95B | -1.72B | -4.93B | -3.89B | -4.43B | -4.87B |
| Share Repurchases | 0 | -1.28B | -941M | -271M | -1.25B | -5.57B | -3.32B | -2.66B | -1.45B |
| Other Financing | 466M | 332M | 360M | 274M | -165.24M | 511M | 372M | 280M | -360.71M |
| Net Change in Cash | 120M▲ 0% | -36M▼ 130.0% | 38M▲ 205.6% | 45M▲ 18.4% | 443.78M▲ 886.2% | 176M▼ 60.3% | -43M▼ 124.4% | -746M▼ 1634.9% | 547.54M▲ 173.4% |
| Free Cash Flow | 2.56B▲ 0% | 5.68B▲ 121.5% | 5.22B▼ 8.1% | 2.15B▼ 58.7% | 7.89B▲ 266.5% | 14.29B▲ 81.0% | 7.44B▼ 47.9% | 8.1B▲ 8.7% | 8.42B▲ 4.1% |
| FCF Margin % | 14.51% | 25.49% | 22.83% | 12.31% | 24.03% | 28.85% | 18.23% | 22.7% | 21.75% |
| FCF Growth % | 830.48% | 121.53% | -8.08% | -58.74% | 266.52% | 80.98% | -47.9% | 8.75% | 4.05% |
| FCF per Share | 1.08 | 2.33 | 2.19 | 0.91 | 3.34 | 6.29 | 3.38 | 3.78 | 4.02 |
| FCF Conversion (FCF/Net Income) | 3.03x | 3.91x | 1.63x | -10.84x | 1.49x | 1.77x | 1.50x | 2.19x | 1.40x |
| Interest Paid | 0 | 911M | 0 | 0 | 0 | 613M | 602M | 586M | 0 |
| Taxes Paid | 0 | 225M | 0 | 0 | 0 | 3.06B | 3.32B | 1.14B | 0 |
CNQ Key Ratios
Canadian Natural Resources Limited (CNQ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -0.76% | 8.28% | 8.14% | 18.37% | -1.66% | 24.58% | 29.12% | 21.11% | 15.4% | 25.8% |
| Return on Invested Capital (ROIC) | -2.2% | 3.61% | 6.83% | 17.53% | - | 14.88% | 21.55% | 15.7% | 23.04% | 10.02% |
| Gross Margin | -3.94% | 16.71% | 23.4% | 52.01% | 0.39% | 32.19% | 32.83% | 28.83% | 49.3% | 23.27% |
| Net Margin | -1.84% | 13.57% | 11.63% | 23.68% | -2.49% | 23.33% | 22.08% | 20.16% | 17.12% | 27.91% |
| Debt / Equity | 0.64x | 0.71x | 0.64x | 0.65x | 0.71x | 0.44x | 0.34x | 0.27x | 0.51x | 0.44x |
| Interest Coverage | -1.48x | 4.95x | 5.41x | 6.08x | -0.05x | 14.34x | 21.45x | 15.71x | 14.44x | 9.86x |
| FCF Conversion | -16.92x | 3.03x | 3.91x | 1.63x | -10.84x | 1.49x | 1.77x | 1.50x | 2.19x | 1.40x |
| Revenue Growth | -15.71% | 59.21% | 26.11% | 2.64% | -23.52% | 87.83% | 50.76% | -17.55% | -12.68% | 8.62% |
CNQ Frequently Asked Questions
Canadian Natural Resources Limited (CNQ) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Canadian Natural Resources Limited (CNQ) reported $41.50B in revenue for fiscal year 2025. This represents a 6418% increase from $636.8M in 1996.
Canadian Natural Resources Limited (CNQ) grew revenue by 8.6% over the past year. This is steady growth.
Yes, Canadian Natural Resources Limited (CNQ) is profitable, generating $10.82B in net income for fiscal year 2025 (27.9% net margin).
Dividend & Returns
Yes, Canadian Natural Resources Limited (CNQ) pays a dividend with a yield of 3.57%. This makes it attractive for income-focused investors.
Canadian Natural Resources Limited (CNQ) has a return on equity (ROE) of 25.8%. This is excellent, indicating efficient use of shareholder capital.
Canadian Natural Resources Limited (CNQ) generated $8.31B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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Canadian Natural Resources Limited (CNQ) financial analysis — history, returns, DCA and operating performance tools
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