Revenue surged to $15.4B in 2026Q1, though operating margins contracted to 18.8% from historical peaks exceeding 30%, suggesting rising cost pressures.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 52.01B | 48.91B | 50.69B | 49.09B | 58.34B | 39.13B | 24.66B | 38.34B | 38.54B | 31.95B | 26.81B | 29.21B | 39.86B | 39.59B | 38.11B | 38.34B | 32.6B | 26B | 29.5B | 18.54B | 16.53B | 11.13B | 8.71B | 6.61B | 5.03B | 4.2B | 3.38B | 2.38B | 2.07B | 2.15B | 2.1B |
| Revenue Growth % | 2.72% | -3.51% | 3.25% | -15.85% | 49.07% | 58.67% | -35.68% | -0.51% | 20.62% | 19.2% | -8.22% | -26.73% | 0.68% | 3.9% | -0.61% | 17.59% | 25.41% | -11.87% | 59.15% | 12.11% | 48.58% | 27.82% | 31.68% | 31.39% | 19.82% | 24.06% | 42.05% | 15.22% | -3.72% | 2.29% | 10.64% |
| Cost of Goods Sold | 23.16B | 20.01B | 20.96B | 19.99B | 22.45B | 15.27B | 10.69B | 14.01B | 15.44B | 12.16B | 10.89B | 12.63B | 18.57B | 18.2B | 17.75B | 22.56B | 15.53B | 16.32B | 20.04B | 10.16B | 8.17B | 5.66B | 3.45B | 1.69B | 1.18B | 1.6B | 1.06B | 658.28M | 1.09B | 558.97M | 716.05M |
| COGS % of Revenue | - | 40.92% | 41.34% | 40.72% | 38.48% | 39.02% | 43.34% | 36.54% | 40.06% | 38.05% | 40.61% | 43.25% | 46.6% | 45.98% | 46.57% | 58.84% | 47.64% | 62.75% | 67.94% | 54.8% | 49.43% | 50.87% | 39.67% | 25.51% | 23.49% | 37.98% | 31.28% | 27.63% | 52.62% | 26.02% | 34.1% |
| Gross Profit | 28.85B | 28.89B | 29.73B | 29.1B | 35.89B | 23.86B | 13.97B | 24.33B | 23.1B | 19.8B | 15.92B | 16.58B | 21.29B | 21.39B | 20.36B | 15.78B | 17.07B | 9.68B | 9.46B | 8.38B | 8.36B | 5.47B | 5.25B | 4.92B | 3.85B | 2.6B | 2.33B | 1.72B | 979.88M | 1.59B | 1.38B |
| Gross Margin % | 55.48% | 59.08% | 58.66% | 59.28% | 61.52% | 60.98% | 56.66% | 63.46% | 59.94% | 61.95% | 59.39% | 56.75% | 53.4% | 54.02% | 53.43% | 41.16% | 52.36% | 37.25% | 32.06% | 45.2% | 50.57% | 49.13% | 60.33% | 74.49% | 76.51% | 62.02% | 68.72% | 72.37% | 47.38% | 73.98% | 65.9% |
| Gross Profit Growth % | - | -2.82% | 2.16% | -18.91% | 50.41% | 70.76% | -42.57% | 5.32% | 16.7% | 24.35% | -3.96% | -22.13% | -0.47% | 5.04% | 29.04% | -7.56% | 76.29% | 2.38% | 12.89% | 0.2% | 52.94% | 4.09% | 6.65% | 27.93% | 47.82% | 11.96% | 34.88% | 76% | -38.33% | 14.82% | 22.03% |
| Operating Expenses | 14.62B | 13.4B | 13.18B | 13.19B | 12.9B | 11.3B | 10.03B | 11.56B | 10.75B | 9.35B | 9.47B | 9.14B | 9.96B | 14.79B | 15.42B | 15.78B | 17.07B | 9.68B | 9.46B | 8.38B | 8.36B | 5.47B | 5.25B | 4.92B | 3.85B | 2.6B | 2.33B | 1.72B | 979.88M | 1.59B | 1.38B |
| OpEx % of Revenue | - | 27.41% | 25.99% | 26.87% | 22.12% | 28.89% | 40.69% | 30.15% | 27.89% | 29.26% | 35.32% | 31.28% | 24.99% | 37.36% | 40.45% | 41.16% | 52.36% | 37.25% | 32.06% | 45.2% | 50.57% | 49.13% | 60.33% | 74.49% | 76.51% | 62.02% | 68.72% | 72.37% | 47.38% | 73.98% | 65.9% |
| Selling, General & Admin | 10.55B | 13.4B | 13.18B | 13.19B | 12.9B | 11.3B | 10.03B | 11.56B | 10.75B | 9.35B | 9.47B | 9.14B | 9.96B | 9.85B | 9.35B | 2.72B | 7.98B | 6.43B | 4.19B | 3.34B | 3.07B | 2.44B | 2.56B | 1.96B | 1.55B | 1.17B | 917.82M | 774.02M | 682.04M | 704.93M | 424.01M |
| SG&A % of Revenue | - | 27.41% | 25.99% | 26.87% | 22.12% | 28.89% | 40.69% | 30.15% | 27.89% | 29.26% | 35.32% | 31.28% | 24.99% | 24.88% | 24.52% | 7.1% | 24.49% | 24.73% | 14.19% | 18.02% | 18.54% | 21.9% | 29.43% | 29.64% | 30.75% | 27.98% | 27.12% | 32.48% | 32.98% | 32.82% | 20.19% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 163M | 77M | 51M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.43% | 0.24% | 0.2% | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13.06B | 9.09B | 3.25B | 5.27B | 5.04B | 5.29B | 3.03B | 2.69B | 2.97B | 2.3B | 1.43B | 1.41B | 950.52M | 297.83M | 884.06M | 959.85M |
| Operating Income | 14.23B | 15.49B | 16.56B | 15.91B | 22.99B | 12.56B | 3.94B | 12.77B | 12.35B | 10.45B | 6.45B | 7.44B | 11.32B | 7.5B | 7.07B | 7.29B | 5.07B | 1.05B | 4.07B | 3.38B | 3.87B | 1.85B | 1.64B | 1.88B | 1.33B | 702.01M | 682.36M | 298.03M | 390.09M | 338.1M | 444.84M |
| Operating Margin % | 27.37% | 31.67% | 32.66% | 32.41% | 39.4% | 32.09% | 15.98% | 33.31% | 32.05% | 32.69% | 24.06% | 25.47% | 28.41% | 18.94% | 18.56% | 19.02% | 15.53% | 4.03% | 13.79% | 18.25% | 23.39% | 16.6% | 18.8% | 28.39% | 26.49% | 16.72% | 20.16% | 12.51% | 18.86% | 15.74% | 21.18% |
| Operating Income Growth % | - | -6.44% | 4.07% | -30.79% | 83.04% | 218.73% | -69.16% | 3.42% | 18.23% | 61.94% | -13.28% | -34.31% | 51% | 6.07% | -3.04% | 43.99% | 383.3% | -74.24% | 20.28% | -12.52% | 109.37% | 12.85% | -12.8% | 40.8% | 89.89% | 2.88% | 128.96% | -23.6% | 15.38% | -24% | 29.31% |
| EBITDA | 21.65B | 22.98B | 23.66B | 22.27B | 28.27B | 18.54B | 11.99B | 19.92B | 18.36B | 16.3B | 12.84B | 15.01B | 17.22B | 12.12B | 11.2B | 11.24B | 8.87B | 2.91B | 5.12B | 4.25B | 4.56B | 2.57B | 2.36B | 2.5B | 1.93B | 1.06B | 1.05B | 616.32M | 654.8M | 572.12M | 648.9M |
| EBITDA Margin % | 41.63% | 46.99% | 46.67% | 45.35% | 48.45% | 47.37% | 48.63% | 51.95% | 47.63% | 51% | 47.89% | 51.38% | 43.21% | 30.62% | 29.4% | 29.33% | 27.2% | 11.19% | 17.35% | 22.91% | 27.6% | 23.07% | 27.07% | 37.8% | 38.32% | 25.28% | 30.93% | 25.87% | 31.66% | 26.64% | 30.9% |
| EBITDA Growth % | -8.8% | -2.86% | 6.26% | -21.23% | 52.48% | 54.57% | -39.8% | 8.53% | 12.65% | 26.94% | -14.46% | -12.87% | 42.08% | 8.19% | -0.36% | 26.8% | 204.95% | -43.18% | 20.51% | -6.91% | 77.75% | 8.92% | -5.7% | 29.62% | 81.58% | 1.43% | 69.85% | -5.88% | 14.45% | -11.83% | 21.53% |
| D&A (Non-Cash Add-back) | 7.42B | 7.49B | 7.1B | 6.36B | 5.28B | 5.98B | 8.05B | 7.15B | 6B | 5.85B | 6.39B | 7.57B | 5.9B | 4.62B | 4.13B | 3.95B | 3.8B | 1.86B | 1.05B | 0 | 695.48M | 719.85M | 719.94M | 622.18M | 594.9M | 359.76M | 364.43M | 318.29M | 264.71M | 234.02M | 204.06M |
| EBIT | 8.94B | 8.69B | 9.25B | 9.5B | 17.15B | 6.02B | -5.64B | 2.06B | 6.6B | 4.53B | 87M | 240M | 5.87B | 7.5B | 7.07B | 7.17B | 6.18B | 1.86B | 3.13B | 3.38B | 3.84B | 1.85B | 1.64B | 1.88B | 1.33B | 702.01M | 682.36M | 298.03M | 390.09M | 338.1M | 444.84M |
| Net Interest Income | -614.95M | -550.55M | -694M | -681.06M | -757M | -897M | -942M | -900M | -819M | -117M | -397M | -413M | -273M | -289M | -41M | -102M | -638M | -437M | -889M | 241M | -26M | 17M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 150.88M | 191.84M | 0 | 94.01M | 149M | 64M | 94M | 89M | 34M | 162M | 77M | 62M | 90M | 85M | 91M | 0 | 0 | 444M | 28M | 241M | 13M | 17M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 765.83M | 742.39M | 694M | 775.07M | 906M | 961M | 1.04B | 989M | 853M | 279M | 474M | 475M | 363M | 374M | 132M | 102M | 403M | 437M | 0 | 0 | 39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -5.75B | -7.54B | -8.37B | -5.32B | -10.67B | -6.99B | -10.04B | -10.24B | -7.37B | -4.53B | -6.37B | -9.47B | -6.74B | -1.12B | -2.09B | -224M | 711M | 371M | -937M | 166M | -70M | 5M | -34.8M | -72.14M | -206.17M | -189.43M | -62.99M | 13.02M | -94.43M | 1.86M | -124.71M |
| Pretax Income | 8.48B | 7.95B | 8.19B | 10.59B | 12.32B | 5.57B | -6.1B | 2.53B | 4.98B | 5.92B | 86M | -2.03B | 4.59B | 6.38B | 4.98B | 7.07B | 5.78B | 1.42B | 3.13B | 3.55B | 3.8B | 1.85B | 1.6B | 1.8B | 1.13B | 512.58M | 619.38M | 311.05M | 295.67M | 339.96M | 320.13M |
| Pretax Margin % | 16.31% | 16.25% | 16.15% | 21.57% | 21.11% | 14.23% | -24.72% | 6.61% | 12.93% | 18.51% | 0.32% | -6.94% | 11.51% | 16.1% | 13.08% | 18.44% | 17.72% | 5.46% | 10.62% | 19.15% | 22.97% | 16.64% | 18.4% | 27.3% | 22.4% | 12.21% | 18.3% | 13.05% | 14.3% | 15.83% | 15.25% |
| Income Tax | 2.15B | 2.03B | 2.17B | 2.29B | 3.24B | 1.45B | 1.78B | 366M | 1.69B | 1.46B | 359M | 32M | 1.89B | 2.46B | 2.24B | 2.77B | 1.95B | 213M | 995M | 566M | 828M | 694M | 525.56M | 717.51M | 377.71M | 125.76M | 242.95M | 124.42M | 108.36M | 116.94M | 133.07M |
| Effective Tax Rate % | 25.4% | 25.54% | 26.52% | 21.66% | 26.3% | 26.05% | -29.16% | 14.45% | 33.92% | 24.65% | 417.44% | -1.58% | 41.2% | 38.66% | 45.02% | 39.11% | 33.71% | 15.01% | 31.77% | 15.95% | 21.81% | 37.47% | 32.81% | 39.76% | 33.52% | 24.53% | 39.23% | 40% | 36.65% | 34.4% | 41.57% |
| Net Income | 6.33B | 5.92B | 6.02B | 8.29B | 9.08B | 4.12B | -4.32B | 2.9B | 3.29B | 4.46B | 434M | -2B | 2.7B | 3.91B | 2.74B | 4.3B | 3.83B | 1.15B | 2.14B | 2.98B | 2.97B | 1.16B | 1.08B | 1.09B | 749.13M | 388.41M | 376.42M | 186.63M | 187.31M | 223.02M | 187.06M |
| Net Margin % | 12.17% | 12.1% | 11.87% | 16.9% | 15.56% | 10.53% | -17.51% | 7.56% | 8.54% | 13.95% | 1.62% | -6.83% | 6.77% | 9.88% | 7.19% | 11.23% | 11.74% | 4.41% | 7.24% | 16.09% | 17.96% | 10.41% | 12.36% | 16.45% | 14.89% | 9.25% | 11.12% | 7.83% | 9.06% | 10.38% | 8.91% |
| Net Income Growth % | 3.84% | -1.63% | -27.47% | -8.62% | 120.37% | 195.37% | -248.98% | -11.96% | -26.13% | 927.19% | 121.75% | -173.92% | -30.99% | 42.74% | -36.34% | 12.41% | 234.12% | -46.37% | -28.36% | 0.47% | 156.39% | 7.59% | -1% | 45.13% | 92.87% | 3.18% | 101.69% | -0.36% | -16.01% | 19.22% | 23.93% |
| Net Income (Continuing) | 6.33B | 5.92B | 6.02B | 8.29B | 9.08B | 4.12B | -4.32B | 2.9B | 3.29B | 4.46B | 445M | -2B | 2.7B | 0 | 0 | 4.3B | 3.83B | 1.21B | 2.14B | 2.98B | 2.97B | 1.16B | 1.08B | 1.09B | 749.13M | 388.41M | 376.42M | 186.63M | 187.31M | 223.02M | 187.06M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 883M | -60M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 5.32 | 4.85 | 4.72 | 6.33 | 6.53 | 2.77 | -2.83 | 1.86 | 2.02 | 2.68 | 0.27 | -1.38 | 1.84 | 2.60 | 1.79 | 2.67 | 2.27 | 0.95 | 2.26 | 3.17 | 1.58 | 0.66 | 0.60 | 1.13 | 0.81 | 0.20 | 0.39 | 0.09 | 0.10 | 0.03 | 0.01 |
| EPS Growth % | 9.34% | 2.75% | -25.43% | -3.06% | 135.74% | 197.88% | -252.15% | -7.92% | -24.63% | 892.59% | 119.57% | -175% | -29.23% | 45.25% | -32.96% | 17.62% | 138.95% | -57.96% | -28.71% | 100.63% | 139.39% | 10% | -46.9% | 39.51% | 305% | -48.72% | 327.16% | -8.7% | 210.56% | 138.52% | 23.85% |
| EPS (Basic) | - | 4.85 | 4.72 | 6.34 | 6.54 | 2.77 | -2.83 | 1.86 | 2.03 | 2.68 | 0.27 | -1.38 | 1.84 | 2.61 | 1.80 | 2.74 | 2.29 | 0.96 | 2.29 | 3.23 | 1.62 | 0.68 | 0.61 | 1.21 | 0.82 | 0.20 | 0.40 | 0.09 | 0.10 | 0.03 | 0.01 |
| Diluted Shares Outstanding | 1.19B | 1.22B | 1.28B | 1.31B | 1.39B | 1.49B | 1.53B | 1.56B | 1.63B | 1.67B | 1.61B | 1.45B | 1.47B | 1.5B | 1.55B | 1.58B | 1.57B | 1.21B | 945M | 942M | 1.88B | 1.88B | 1.85B | 938.19M | 946M | 1.8B | 894.09M | 884.13M | 881.74M | 879.26M | 876.59M |
| Basic Shares Outstanding | 1.19B | 1.22B | 1.27B | 1.31B | 1.39B | 1.49B | 1.53B | 1.56B | 1.62B | 1.66B | 1.61B | 1.45B | 1.46B | 1.5B | 1.54B | 1.57B | 1.56B | 1.19B | 932M | 922M | 1.84B | 1.83B | 1.82B | 876.16M | 896M | 1.78B | 888.43M | 884.13M | 881.74M | 879.26M | 876.59M |
| Dividend Payout Ratio | - | 47.43% | 46.59% | 33.14% | 28.6% | 37.63% | - | 90.17% | 70.85% | 47.64% | 432.49% | - | 55.21% | 28% | 27.59% | 15.43% | 15.96% | 34.99% | 8.42% | 5.43% | 4.28% | 8.81% | 9.01% | 7.46% | 16.18% | 30.74% | 31.47% | 59.69% | 39.67% | 33.21% | 37.44% |
Operational reliability and volatility
According to the latest quarterly income statement, Suncor reported a significant revenue surge to $15.4B in 2026Q1, representing a 25.1% growth rate, which contrasts sharply with the preceding multi-quarter period of stagnation where revenue growth frequently fluctuated between negative 7% and positive 2% ranges.
The recent spike in revenue appears to be an outlier relative to the previous two years of flat-to-declining top-line performance. Investors should monitor whether this acceleration reflects sustained volume increases or merely a temporary benefit from favorable commodity price benchmarks that may not persist in subsequent quarters.
As reported in financial statements, Suncor maintained a robust gross margin of 48.8% in 2026Q1, though this figure represents a contraction from the 61.5% peak observed in early 2025, suggesting that input cost pressures or product mix shifts are impacting the firm's core profitability profile.
The ability to sustain gross margins near the 50% level despite commodity price volatility highlights the competitive advantage of the integrated refining and mining model. However, the observed compression from 2025 levels warrants further investigation into whether rising energy inputs or carbon compliance costs are beginning to erode the value-add of synthetic crude production.
Based on Suncor's reported figures, the operating margin reached 18.8% in 2026Q1, a notable decline from the 30% to 35% range maintained throughout 2024 and 2025, indicating that operating expenses are currently scaling at a rate that outpaces the recent revenue growth observed in the latest quarter.
The sharp drop in operating margin suggests that the company may be facing increased overhead or maintenance-related costs that are not yet being offset by top-line expansion. This trend implies that management's recent focus on operational reliability has yet to translate into the expected efficiency gains in the income statement.
Data from recent filings indicates that net income reached $2.1B in 2026Q1, though the quality of these earnings appears influenced by significant fluctuations in stock-based compensation and non-operating items, which have historically caused substantial quarterly variance in the reported net margin and diluted earnings per share.
The inconsistency in net income, which swung from $818M in 2024Q4 to $2.8B in 2023Q4, suggests that investors should focus on normalized EBITDA rather than headline net income. The volatility in stock-based compensation charges further complicates the assessment of true operational profitability and management's long-term incentive alignment.
Quick answers to the most common questions about buying SU stock.
For fiscal year 2025, Suncor Energy Inc. (SU) reported total revenue of $48.91B. This represents a 2229.1% increase compared to $2.10B in 1996.
Suncor Energy Inc. (SU) is profitable, generating $5.92B in net income for the fiscal year ending 2025 with a net profit margin of 12.1%.
Suncor Energy Inc. (SU) reported an operating income of $15.49B, resulting in an operating profit margin of 31.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Suncor Energy Inc. (SU) generated $28.89B in gross profit for the year, representing a gross profit margin of 59.1%. This demonstrates the company's core pricing power and production efficiency.