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C

Canadian Natural Resources CNQ.TO · CAD

Energy · Toronto Stock Exchange · 🇨🇦 Canada

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67.87

-0.92%

Close of 9 Nov 2026, in CAD

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in CAD, from our data supplier.

FY2025

Revenue

C$38.76bn

FY2016FY2025

Net income

C$10.82bn

FY2016FY2025

Free cash flow

C$8.43bn

FY2016FY2025

Shareholders' equity

C$44.37bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueC$38.76bnC$41.51bnC$40.84bnC$49.53bnC$32.85bnC$16.89bnC$24.39bnC$22.28bnC$18.36bnC$12.00bn
Gross profitC$9.02bnC$10.90bnC$11.77bnC$16.26bnC$10.58bn−C$136.0mC$6.35bnC$5.21bnC$2.95bn−C$437.0m
Operating incomeC$8.23bnC$9.73bnC$10.46bnC$14.76bnC$10.22bn−C$117.0mC$5.59bnC$4.85bnC$2.97bn−C$1.28bn
Net incomeC$10.82bnC$6.11bnC$8.23bnC$10.94bnC$7.66bn−C$435.0mC$5.42bnC$2.59bnC$2.40bn−C$204.0m
Diluted earnings per share5.182.883.789.776.49-0.374.581.080.98-0.09

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsC$91.83bnC$85.36bnC$75.95bnC$76.14bnC$76.67bnC$75.28bnC$78.12bnC$71.56bnC$73.87bnC$58.65bn
Cash and short-term investmentsC$673.0mC$131.0mC$1.40bnC$1.41bnC$1.05bnC$489.0mC$629.0mC$625.0mC$1.03bnC$930.0m
Total liabilitiesC$47.46bnC$45.89bnC$36.12bnC$37.97bnC$39.72bnC$42.90bnC$43.13bnC$39.59bnC$42.21bnC$32.38bn
DebtC$19.72bnC$20.28bnC$12.35bnC$12.98bnC$16.28bnC$23.14bnC$23.02bnC$20.62bnC$22.46bnC$16.80bn
Shareholders' equityC$44.37bnC$39.47bnC$39.83bnC$38.17bnC$36.95bnC$32.38bnC$34.99bnC$31.97bnC$31.65bnC$26.27bn
Shares outstanding2,089m2,120m2,180m1,120m1,180m1,187m1,183m2,410m2,440m2,214m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsC$15.11bnC$13.39bnC$12.35bnC$19.39bnC$14.48bnC$4.71bnC$8.83bnC$10.12bnC$7.26bnC$3.45bn
Capital spending−C$6.68bn−C$5.38bn−C$4.91bn−C$5.10bn−C$4.49bn−C$2.56bn−C$3.54bn−C$4.17bn−C$4.57bn−C$3.80bn
Free cash flowC$8.43bnC$8.00bnC$7.44bnC$14.29bnC$9.99bnC$2.16bnC$5.29bnC$5.95bnC$2.69bn−C$351.0m
Dividends paid−C$4.87bn−C$4.43bn−C$3.89bn−C$4.93bn−C$2.17bn−C$1.95bn−C$1.74bn−C$1.56bn−C$1.25bn−C$758.0m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueC$17.21bnC$10.81bnC$9.61bnC$9.52bnC$9.68bnC$12.71bnC$11.06bnC$10.40bn
Gross profitC$6.41bnC$3.47bnC$2.04bnC$4.61bnC$2.31bnC$3.56bnC$2.86bnC$3.00bn
Operating incomeC$6.35bnC$2.67bnC$2.04bnC$580.0mC$2.30bnC$3.29bnC$2.59bnC$2.82bn
Net incomeC$4.50bnC$1.35bnC$5.30bnC$600.0mC$2.46bnC$2.46bnC$1.14bnC$2.27bn
Diluted earnings per share2.150.652.540.291.181.180.541.07
Cash from operationsC$6.82bnC$3.28bnC$3.77bnC$3.94bnC$3.11bnC$4.28bnC$3.43bnC$3.00bn
Capital spending−C$2.40bn−C$2.09bn−C$1.45bn−C$2.12bn−C$1.92bn−C$1.30bn−C$1.28bn−C$1.35bn
Free cash flowC$4.42bnC$1.19bnC$2.31bnC$1.82bnC$1.20bnC$2.99bnC$2.15bnC$1.65bn
Total assetsC$96.58bnC$94.05bnC$91.83bnC$85.59bnC$85.27bnC$84.81bnC$85.36bnC$75.08bn
Cash and short-term investmentsC$2.62bnC$808.0mC$673.0mC$113.0mC$102.0mC$93.0mC$131.0mC$721.0m
DebtC$17.14bnC$17.33bnC$19.72bnC$18.49bnC$18.22bnC$18.83bnC$20.28bnC$11.52bn
Shareholders' equityC$46.80bnC$44.64bnC$44.37bnC$40.46bnC$41.30bnC$40.45bnC$39.47bnC$39.90bn

Financial ratios

Data as of 8 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin23.3%26.3%28.8%32.8%32.2%-0.8%
Operating margin21.2%23.4%25.6%29.8%31.1%-0.7%
Net margin27.9%14.7%20.2%22.1%23.3%-2.6%
Return on equity24.4%15.5%20.7%28.6%20.7%-1.3%
Return on assets11.8%7.2%10.8%14.4%10.0%-0.6%
Free cash flow yield14.9%12.7%11.3%31.4%23.0%8.8%
Revenue growth-6.6%1.7%-17.6%50.8%94.5%-30.7%
Earnings growth77.2%-25.8%-24.7%42.7%-1861.8%-108.0%
Current ratio0.95x0.77x0.96x0.82x0.80x0.86x
Debt to equity0.38x0.48x0.28x0.30x0.40x0.66x
Equity ratio48.3%46.2%52.4%50.1%48.2%43.0%
Interest coverage9.86x14.45x15.14x22.03x13.76x-0.14x
Buybacks as a share of market value1.5%2.7%-94.7%5.1%0.6%-0.3%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-7.8%18.1%11.4%
Operating income-17.7%——
Net income-0.4%——

Average margins

Over each period

1 year3 years5 years10 years
Gross margin24.8%28.1%26.5%23.3%
Operating margin22.4%25.3%24.2%20.8%
Net margin21.1%21.2%19.7%17.0%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings9.015.411.53.94.0-40.94.515.022.4-227.5
Price to sales2.52.32.30.80.91.11.01.72.93.9

Dividends and splits

Per share, in the currency the company pays

Paid for 25 years. Last went ex-dividend on 11 Sept 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year1.8752.352.1371.852.2850.9780.8330.735
  • 2-for-1 split · 11 Jun 2024
  • 2-for-1 split · 19 May 2010
  • 2-for-1 split · 18 May 2005
  • 2-for-1 split · 19 May 2004
  • 2-for-1 split · 4 Jun 1993

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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