◆ TICKERBASE · US STOCK FINANCIAL DATA LIBRARY

Home › All stocks › CNQ

Canadian Natural Resources Ltd (CNQ) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · OIL & GAS E&P · DATA UPDATED 2026-07-19

Canadian Natural Resources Ltd (CNQ) operates in the OIL & GAS E&P industry and is headquartered in Calgary, Canada with about 10,750 employees. Its market capitalization is roughly $97 billion. In the fiscal year ended 2025-12-31, CNQ reported $44.2B in revenue and $10.8B in net income.

Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa.

Interactive charts & full statements → Open the CNQ valuation workbench →

CNQ Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$40.7B	$44.2B	$35.7B	$40.8B	$49.5B	$32.9B	$17.5B	$22.9B	$22.3B	$17.7B	$11.1B	$13.2B	$21.3B	$17.9B	$16.2B	$15.5B	$14.3B	$11.1B	$16.2B	$12.5B	$11.6B
Gross Profit	$12.5B	$9.4B	$17.6B	$11.8B	$16.3B	$10.6B	$69M	$11.9B	$5.2B	$3.0B	($437M)	($225M)	$5.5B	$3.8B	$3.3B	$7.8B	$3.5B	$6.9B	$9.8B	$7.4B	$7.0B
Gross Margin %	30.8%	21.3%	49.3%	28.8%	32.8%	32.2%	0.4%	52.0%	23.4%	16.7%	-3.9%	-1.7%	25.8%	21.2%	20.1%	50.3%	24.8%	62.0%	60.4%	59.0%	60.2%
Operating Income (EBIT)	$10.9B	$8.2B	$16.8B	$10.5B	$14.8B	$9.5B	($445M)	$11.3B	$4.8B	$2.3B	($1.3B)	($742M)	$4.9B	$3.2B	$3.1B	$4.3B	$3.0B	$2.5B	$6.7B	$2.3B	$4.0B
Operating Margin %	26.8%	18.6%	47.1%	25.6%	29.8%	28.9%	-2.5%	49.5%	21.8%	13.2%	-11.5%	-5.6%	22.8%	17.6%	18.9%	27.9%	21.1%	22.3%	41.5%	18.6%	34.7%
Net Income	$9.7B	$10.8B	$6.1B	$8.2B	$10.9B	$7.7B	($435M)	$5.4B	$2.6B	$2.4B	($204M)	($637M)	$3.9B	$2.3B	$1.9B	$2.6B	$1.7B	$1.6B	$5.0B	$2.6B	$2.5B
Net Margin %	23.8%	24.5%	17.1%	20.2%	22.1%	23.3%	-2.5%	23.7%	11.6%	13.6%	-1.8%	-4.8%	18.4%	12.7%	11.7%	17.0%	11.7%	14.3%	30.8%	20.8%	21.7%
EBITDA	$22.4B	$21.9B	$16.3B	$17.3B	$21.7B	$16.4B	$6.0B	$11.3B	$9.7B	$7.7B	$4.4B	$5.2B	$10.4B	$8.2B	$7.5B	$7.9B	$7.4B	$5.2B	$10.1B	$5.3B	$6.1B
Earnings Per Share (EPS)	$4.64	$5.16	$2.85	$3.74	$4.76	$3.23	$-0.18	$2.27	$1.06	$1.01	$-0.09	$-0.29	$1.79	$1.04	$0.86	$1.20	$0.77	$0.73	$2.31	$1.21	$1.17
Shares Outstanding (M)	2,096M	2,098M	2,140M	2,204M	2,298M	2,373M	2,364M	2,386M	2,448M	2,366M	2,201M	2,188M	2,194M	2,181M	2,199M	2,205M	2,176M	2,168M	2,163M	2,157M	2,148M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CNQ Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$10.8B	$10.7B	$9.5B	$9.7B	$12.7B	$11.1B	$10.4B	$10.6B
Gross Profit	$3.5B	$2.1B	$4.6B	$2.3B	$3.6B	$2.9B	$3.0B	$2.8B
Gross Margin %	32.1%	20.0%	48.4%	23.9%	28.0%	25.8%	28.8%	26.1%
Operating Income (EBIT)	$2.7B	$1.8B	$4.4B	$2.1B	$3.3B	$2.6B	$2.8B	$2.6B
Operating Margin %	24.7%	16.8%	46.1%	21.3%	25.9%	23.4%	27.2%	24.1%
Net Income	$1.4B	$5.3B	$600M	$2.5B	$2.5B	$1.1B	$2.3B	$1.7B
Net Margin %	12.5%	49.5%	6.3%	25.4%	19.3%	10.3%	21.8%	16.2%
EBITDA	$4.0B	$9.6B	$3.9B	$4.8B	$5.2B	$3.7B	$4.6B	$4.1B
Earnings Per Share (EPS)	$0.64	$2.54	$0.29	$1.17	$1.17	$0.54	$1.06	$0.80
Shares Outstanding (M)	2,096M	2,089M	2,069M	2,100M	2,109M	2,120M	2,133M	2,149M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CNQ Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$13.2B	$15.1B	$13.4B	$12.4B	$19.4B	$14.5B	$4.7B	$8.8B	$10.1B	$7.3B	$3.5B	$5.6B	$8.5B	$7.2B	$6.2B	$6.2B	$6.3B	$5.8B	$6.8B	$5.8B	$4.2B
Capital Expenditures (CapEx)	$7.0B	$6.7B	$5.3B	$4.9B	$5.1B	$4.5B	$2.6B	$3.5B	$4.2B	$4.6B	$3.8B	$4.7B	$10.2B	$7.2B	$6.1B	$6.2B	$5.3B	$3.0B	$7.4B	$6.5B	$7.3B
Free Cash Flow (FCF)	$6.2B	$8.4B	$8.1B	$7.4B	$14.3B	$10.0B	$2.2B	$5.3B	$5.9B	$2.7B	($351M)	$928M	($1.7B)	$7M	$105M	$42M	$949M	$2.8B	($667M)	($646M)	($3.1B)
FCF Margin %	15.2%	19.1%	22.7%	18.2%	28.8%	30.4%	12.3%	23.2%	26.7%	15.2%	-3.2%	7.0%	-8.2%	0.0%	0.7%	0.3%	6.6%	25.5%	-4.1%	-5.1%	-26.5%
Dividends Paid	$4.6B	$4.9B	$4.4B	$3.9B	$4.9B	$2.2B	$1.9B	$1.7B	$1.6B	$1.3B	$758M	$1.3B	$955M	$523M	$444M	$378M	$302M	$225M	$208M	$178M	$153M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CNQ Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$2.4B	$3.8B	$3.9B	$3.1B	$4.3B	$3.4B	$3.0B	$4.1B
Capital Expenditures (CapEx)	$1.5B	$1.5B	$2.1B	$1.9B	$1.3B	$1.3B	$1.3B	$1.6B
Free Cash Flow (FCF)	$856M	$2.3B	$1.8B	$1.2B	$3.0B	$2.1B	$1.7B	$2.5B
FCF Margin %	7.9%	21.6%	19.1%	12.4%	23.5%	19.3%	15.9%	23.2%
Dividends Paid	$880M	$1.2B	$1.2B	$1.2B	$1.2B	$1.1B	$1.1B	$1.1B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CNQ Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$67.6B	$91.8B	$85.4B	$76.0B	$76.1B	$76.7B	$75.3B	$78.1B	$71.6B	$73.9B	$58.6B	$59.3B	$60.2B	$51.8B	$49.0B	$47.3B	$42.7B	$41.0B	$42.7B	$36.1B	$33.2B
Cash & Cash Equivalents	$581M	$672M	$131M	$877M	$920M	$744M	$184M	$139M	$101M	$137M	$17M	$69M	$25M	$16M	$37M	$34M	$22M	$13M	$27M	$21M	$23M
Total Liabilities	$35.5B	$47.4B	$45.9B	$36.1B	$38.0B	$39.7B	$42.9B	$43.1B	$39.6B	$42.2B	$32.4B	$31.9B	$31.3B	$26.0B	$24.7B	$24.4B	$21.7B	$21.6B	$24.3B	$22.8B	$22.5B
Total Debt (Short + Long-Term)	$579M	$17.0B	$19.1B	$11.1B	$11.4B	$14.7B	$21.5B	$21.0B	$20.6B	$22.5B	$16.8B	$16.8B	$10.6B	$9.2B	$8.8B	$8.4B	$9.2B	$9.8B	$10.8B	$11.0B	$9.5B
Total Shareholders' Equity	$32.1B	$44.3B	$39.5B	$39.8B	$38.2B	$36.9B	$32.4B	$35.0B	$32.0B	$31.7B	$26.3B	$27.4B	$28.9B	$25.8B	$24.3B	$22.9B	$21.0B	$19.4B	$18.4B	$13.3B	$10.7B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive CNQ viewer.

← CNP All stocks CNR →

About TickerBase · Data methodology & sources

TickerBase is provided for educational and informational purposes only. It does not constitute financial, investment, tax, or legal advice, or a recommendation to buy, sell, or hold any security. No price targets are published; any per-share value shown in the valuation workbench is generated entirely from reader-supplied assumptions and is not the publisher's view of fair value. Past performance does not predict future results. Figures are approximate and drawn from public filings; one-time items are noted where identified. Do your own research and consult a licensed professional before making any investment decision. The author may or may not hold positions in the securities discussed.