Canadian Natural Resources
CNQ
48.30
+0.80
+1.67%
Canadian Natural Resources
US · CNQ
#205 by market cap
Listed 1970
48.30
+0.80
+1.67%
Live - 5344 symbols - heartbeat 19s ago
· 2026-10-08 09:30
Pre-market
48.29
+1.66%
After-hours
47.58
+0.16%
- Market cap
- 99.56B
- P/E (TTM)i
- 12.25
- P/Bi
- 3.03
- EPSi
- 3.62
- Div yieldi
- 3.54%
- 52W posi
- 85%
Reader sentiment
Are you bullish or bearish on CNQ?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Fair
- Altman Z-Score is 2.53, in the 1.8-3.0 "grey zone".
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +6.40% YoY
Margins
- Gross margin
- 21.29%
- Operating margin
- 18.62%
- Net margin
- 24.50%
Key ratios & quality
- Enterprise valuei
- 115.50B
- Altman Z-Scorei
- 2.53
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22.28B | 24.39B | 17.49B | 32.85B | 49.53B | 40.84B | 41.51B | 44.17B |
| Gross profit | 5.21B | 6.35B | 69.00M | 10.58B | 16.26B | 11.77B | 10.90B | 9.40B |
| Selling & admin expenses | 179.00M | 567.00M | 309.00M | 880.00M | 1.22B | 943.00M | 782.00M | 795.00M |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 4.85B | 5.59B | -445.00M | 9.51B | 14.76B | 10.46B | 9.73B | 8.23B |
| Pretax profit | 3.52B | 4.96B | -873.00M | 9.91B | 13.70B | 10.17B | 8.06B | 13.24B |
| Tax | 931.00M | -460.00M | -438.00M | 2.25B | 2.77B | 1.93B | 1.95B | 2.42B |
| Net profit | 2.59B | 5.42B | -435.00M | 7.66B | 10.94B | 8.23B | 6.11B | 10.82B |
| Basic EPS | 1 | 2 | 0 | 3 | 5 | 4 | 3 | 5 |
| Diluted EPS | 1.06 | 2.27 | -0.19 | 3.23 | 4.76 | 3.74 | 2.85 | 5.16 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 12.71B | 9.68B | 11.07B | 10.71B | 12.40B | 17.21B |
| Gross profit | 3.56B | 2.31B | 1.39B | 2.14B | 3.57B | 6.41B |
| Selling & admin expenses | 178.00M | 159.00M | 215.00M | 243.00M | 798.00M | -37.00M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 3.29B | 2.06B | 1.08B | 1.79B | 2.67B | 6.35B |
| Pretax profit | 3.10B | 2.81B | 487.00M | 6.85B | 1.73B | 5.89B |
| Tax | 639.00M | 350.00M | -113.00M | 1.55B | 382.00M | 1.39B |
| Net profit | 2.46B | 2.46B | 600.00M | 5.30B | 1.35B | 4.50B |
| Basic EPS | 1 | 1 | 0 | 3 | 1 | 2 |
| Diluted EPS | 1.17 | 1.17 | 0.29 | 2.54 | 0.64 | 2.15 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 3.02B | 4.49B | 4.36B | 5.94B | 7.06B | 7.17B | 7.41B | 7.66B |
| Cash & ST investments | 625.00M | 629.00M | 489.00M | 1.05B | 1.41B | 1.40B | 131.00M | 673.00M |
| Inventory | 955.00M | 1.15B | 1.06B | 1.55B | 1.82B | 2.03B | 2.79B | 2.62B |
| Total assets | 71.56B | 78.12B | 75.28B | 76.67B | 76.14B | 75.96B | 85.36B | 91.83B |
| Total current liabilities | 4.76B | 6.64B | 5.08B | 7.42B | 8.65B | 7.44B | 9.63B | 8.06B |
| Short-term debt | 1.14B | 2.39B | 1.34B | 1.00B | 404.00M | 980.00M | 2.40B | 441.00M |
| Long-term debt | 19.48B | 18.59B | 20.11B | 13.69B | 11.04B | 9.82B | 16.42B | 16.18B |
| Total liabilities | 39,585,000,000.00 | 43,130,000,000.00 | 42,896,000,000.00 | 39,720,000,000.00 | 37,967,000,000.00 | 36,123,000,000.00 | 45,891,000,000.00 | 47,464,000,000.00 |
| Total equity | 31.97B | 34.99B | 32.38B | 36.95B | 38.18B | 39.83B | 39.47B | 44.37B |
| Retained earnings | 22.53B | 25.42B | 22.77B | 26.78B | 27.67B | 28.95B | 28.10B | 32.73B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 7.23B | 7.25B | 7.18B | 7.66B | 9.37B | 11.33B |
| Cash & ST investments | 93.00M | 102.00M | 113.00M | 673.00M | 808.00M | 2.62B |
| Inventory | 2.69B | 2.67B | 2.77B | 2.62B | 2.92B | 2.79B |
| Total assets | 84.81B | 85.27B | 85.59B | 91.83B | 94.05B | 96.58B |
| Total current liabilities | 8.64B | 8.51B | 8.31B | 8.06B | 9.52B | 11.32B |
| Short-term debt | 1.43B | 1.37B | 829.00M | 441.00M | 441.00M | 2.21B |
| Long-term debt | 16.00B | 15.71B | 16.44B | 16.18B | 16.52B | 14.93B |
| Total liabilities | 44,369,000,000.00 | 43,970,000,000.00 | 45,128,000,000.00 | 47,464,000,000.00 | 49,409,000,000.00 | 49,787,000,000.00 |
| Total equity | 40.45B | 41.30B | 40.46B | 44.37B | 44.64B | 46.80B |
| Retained earnings | 28.90B | 29.81B | 28.91B | 32.73B | 32.49B | 34.68B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 10.12B | 8.83B | 4.71B | 14.48B | 19.39B | 12.35B | 13.39B | 15.11B |
| Depreciation & amortization | 5.16B | 5.55B | 6.05B | 5.72B | 7.35B | 6.41B | 6.68B | 7.61B |
| Free cash flow | 5.68B | 5.22B | 2.15B | 9.99B | 14.26B | 7.44B | 8.00B | 8.32B |
| Dividends paid | -1.56B | -1.74B | -1.95B | -2.17B | -4.93B | -3.89B | -4.43B | -4.87B |
| Stock buybacks / issuance | -1.28B | -941.00M | -271.00M | -1.58B | -5.57B | -3.32B | -2.66B | -1.45B |
| Ending cash balance | 101.00M | 139.00M | 184.00M | 744.00M | 920.00M | 877.00M | 131.00M | 673.00M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 4.28B | 3.11B | 3.94B | 3.77B | 3.28B | 6.82B |
| Depreciation & amortization | 1.87B | 1.77B | 3.21B | 2.54B | 1.88B | 1.90B |
| Free cash flow | 2.99B | 1.20B | 1.88B | 2.31B | 1.19B | 4.42B |
| Dividends paid | -1.18B | -1.23B | -1.23B | -1.23B | -1.22B | -1.30B |
| Stock buybacks / issuance | -487.00M | -359.00M | -309.00M | -294.00M | -311.00M | -1.10B |
| Ending cash balance | 93.00M | 102.00M | 113.00M | 673.00M | 808.00M | 2.62B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 8.14 | 16.18 | -1.29 | 22.11 | 29.12 | 21.11 | 15.40 | 25.81 |
| ROA %i | 3.56 | 7.24 | -0.57 | 10.09 | 14.31 | 10.83 | 7.57 | 12.21 |
| ROIC %i | 5.95 | 11.11 | 0.12 | 15.57 | 22.47 | 17.45 | 12.04 | 19.29 |
| 5-year avg ROE %i | 5.55 | 5.91 | 6.11 | 10.68 | 14.85 | 17.44 | 17.29 | 22.71 |
| EBIT margin %i | 19.39 | 24.06 | -0.26 | 32.43 | 29.02 | 26.59 | 21.04 | 32.33 |
| FCF / sales %i | 25.49 | 21.40 | 12.31 | 30.39 | 28.78 | 18.23 | 19.28 | 18.83 |
| Current ratioi | 0.63 | 0.68 | 0.86 | 0.80 | 0.82 | 0.96 | 0.77 | 0.95 |
| Quick ratioi | 0.37 | 0.47 | 0.59 | 0.56 | 0.57 | 0.62 | 0.44 | 0.58 |
| Debt / assetsi | 28.82 | 26.86 | 28.50 | 19.17 | 15.03 | 14.22 | 22.05 | 18.10 |
| LT debt / equityi | 60.93 | 53.13 | 62.11 | 37.07 | 28.92 | 24.65 | 41.60 | 36.46 |
| Interest coveragei | 5.41 | 6.43 | -0.05 | 14.34 | 21.45 | 15.71 | 12.97 | 13.74 |
| Revenue CAGR (3Y) %i | 19.17 | 26.67 | -1.60 | 13.82 | 26.63 | 32.66 | 8.11 | -3.75 |
| Net income CAGR (3Y) %i | -- | -- | -- | 43.55 | 26.40 | -- | -7.30 | -0.36 |
| FCF CAGR (3Y) %i | 82.92 | -- | -5.64 | 20.69 | 39.77 | 51.19 | -7.11 | -16.45 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 18.95 | 20.61 | 16.56 | 25.81 | 22.82 | 26.69 |
| ROA %i | 9.42 | 10.32 | 8.28 | 12.21 | 10.86 | 12.93 |
| ROIC %i | 15.11 | 16.72 | 13.62 | 19.29 | 17.76 | 20.63 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 23.53 | 25.48 | 19.75 | 32.33 | 29.58 | 31.23 |
| FCF / sales %i | 20.46 | 18.16 | 18.36 | 18.83 | 14.86 | 18.79 |
| Current ratioi | 0.84 | 0.85 | 0.86 | 0.95 | 0.98 | 1.00 |
| Quick ratioi | 0.46 | 0.47 | 0.46 | 0.58 | 0.64 | 0.70 |
| Debt / assetsi | 20.55 | 20.03 | 20.18 | 18.10 | 18.03 | 17.75 |
| LT debt / equityi | 39.56 | 38.04 | 40.63 | 36.46 | 37.01 | 31.90 |
| Interest coveragei | 13.29 | 12.80 | 10.83 | 13.74 | 11.80 | 14.61 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Oil Sands Mining and Upgrading is the largest reported line at 48.41% of revenue, across 4 reported segments.
- Exploration and Production follows at 47.17%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Oil Sands Mining and Upgrading48.41%
Exploration and Production47.17%
Inter-segment elimination and other2.28%
Midstream and Refining2.14%
Quote time 2026-10-08 09:30:08 · For reference only, not investment advice and not tailored to your situation.