1. MARKETS
  2. SECTOR : OIL & GAS
  3. INDUSTRY : INTEGRATED OIL
  4. CANADIAN NATURAL RESOURCES LTD.
Canadian Natural Resources Ltd.
XNYS: CNQ
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48.31-0.13(-0.27%)
62.77% Gain from 52W Low
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XNYS 05 Oct, 2026 5:30 PM (EDT)

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Canadian Natural Resources Ltd quarterly and annual earnings report: results, revenue, profit, P&L, balance sheet, cash flow, financial ratios, revenue mix, peer comparison, and financial documents

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Forecaster Analyst Estimates for Canadian Natural Resources Ltd share price target, revenues, EPS, net income and more

Canadian Natural Resources Ltd quarterly results: revenue, profit, and P&L – 13 quarter history

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  • POSITIVE

    Quarterly Revenue Canadian Natural Resources Ltd Jun-2026 Quarterly Revenue is $17,214 Million which is growth of 77.9% YoY.

  • POSITIVE

    Quarterly Net Profit Canadian Natural Resources Ltd Jun-2026 Quarterly Net Profit is $4,503 Million which is growth of 83.1% YoY.

Canadian Natural Resources Ltd., Earnings Report - Quarterly Results, standalone, All financials are in CAD Million and price data in USD
IndicatorGraphJun '26Mar '26Dec '25Sep '25Jun '25Mar '25Dec '24Sep '24Jun '24Mar '24Dec '23Sep '23Jun '23
Operating Rev.
17,21412,40410,71011,0709,67512,71211,06410,40110,6229,42210,67911,7628,846
Cost Of Rev.
10,8028,8378,5699,6767,3669,1558,2057,4007,8547,1527,5927,7426,894
Gross Profit
6,4123,5672,1411,3942,3093,5572,8593,0012,7682,2703,0874,0201,952
⌄
61896347310249269269177208517267498280
Operating Profit
6,3512,6711,7941,0842,0603,2882,5902,8242,5601,7532,8203,5221,672
⌄
-238-318-245-93-238-258-142-154-158-138-117-187-178
Profit Before Tax
5,8881,7306,8484872,8093,0971,5862,8092,2561,4082,9583,1471,772
Tax
1,3853821,545-113350639448543541421331803309
⌄
4,5031,3485,3036002,4592,4581,1382,2661,7159872,6272,3441,463
Diluted NI Avail to Com Stockholders Ann.
4,5031,3485,3036002,4592,4581,1382,2661,7159872,6272,3441,463
Basic EPS
2.20.72.60.31.21.20.51.10.80.51.21.10.7
Diluted EPS After ExtraOrdinary
2.20.90.60.50.81.10.810.90.51.11.10.6
Number Of Shares End
2,077.92,084.52,083.12,087.92,093.12,100.52,108.12,1202,133.42,142.12,159.42,180.32,190.1
Net Income Continuing Discontinued Operations
4,5031,3485,3036002,4592,4581,1382,2661,7159872,6272,3441,463
Normalized Income
4,6741,833.91,199.51,028.41,590.42,405.11,756.52,153.91,8261,131.92,400.52,483.11,232.3
Interest Income
-------------
Interest
23831824593238258142154158138172187178
Net Interest Income
-238-318-245-93-238-258-142-154-158-138-117-187-178
EBIT
6,1262,0487,0935803,0473,3551,7282,9632,4141,5463,1303,3341,950
EBITDA
8,0283,9259,6313,7914,8125,2253,6294,5614,0633,0795,1914,8713,347
Reconciled Cost Of Rev.
10,8028,8378,5699,6767,3669,1558,2057,4007,8547,1527,5927,7426,894
Reconciled Depr.
1,9021,8772,5383,2111,7651,8701,9011,5981,6491,5332,0611,5371,397
Profit From Continuing Operations
4,5031,3485,3036002,4592,4581,1382,2661,7159872,6272,3441,463
Normalized EBITDA
8,2534,5484,3324,2953,8255,1584,4914,4224,2093,2864,9365,0593,069
*All financials are in CAD Million and price data in USD
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Canadian Natural Resources Ltd competitor comparison and performance snapshot within industry

Canadian Natural Resources Ltd annual results: revenue, profit, P&L, and margins as of Dec 2025 – 11 year history

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  • POSITIVE

    Annual Revenue Canadian Natural Resources Ltd Dec-2025 Annual Revenue is $44,167 Million which is growth of 6.4% YoY.

  • POSITIVE

    Annual Net Profit Canadian Natural Resources Ltd Dec-2025 Annual Net Profit is $10,820 Million which is growth of 77.2% YoY.

Canadian Natural Resources Ltd., Earnings Report - Annual Results, standalone, All financials are in CAD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsTTMDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
-3.7%
20.4%
 44,16741,50940,83549,53032,85417,49124,39422,28217,66911,09813,167
Cost Of Rev. Ann.
1.5%
14.8%
37,88434,76630,61129,06233,27022,27717,42218,04517,06914,71711,53513,392
Gross Profit Ann.
-16.7%
167.2%
13,5149,40110,89811,77316,26010,577696,3495,2132,952-437-225
Operating Exp. Ann.
-7.8%
18%
1,6141,1751,1711,3091,5001,065514757365617842517
Operating Profit Ann.
-17.7%
-
11,9008,2269,72710,46414,7609,512-4455,5924,8482,335-1,279-742
⌄
-
-
-894-834-592-636-549-711-756-836-739-631-383-322
Other Exp. Ann.
-
77.9%
 5,849-1,076337-5071,110328200-5871,169599397
PBT Ann.
-1.1%
-
14,95313,2418,05910,16513,7049,911-8734,9563,5222,873-1,063-667
Tax Ann.
-4.4%
-
3,1992,4211,9531,9322,7672,247-438-460931476-859-30
⌄
-0.4%
-
11,75410,8206,1068,23310,9377,664-4355,4162,5912,397-204-637
Diluted NI Avail to Com Stockholders Ann.
-0.4%
-
11,75410,8206,1068,23310,9377,664-4355,4162,5912,397-204-637
EPS Ann.
2.7%
-
 5.22.93.84.83.2-0.22.31.11-0.1-0.3
Diluted EPS Ann.
2.7%
-
 5.22.93.74.83.2-0.22.31.11-0.1-0.3
Number Of Shares End
-2%
-2.5%
 2,083.12,108.12,159.42,211.52,349.22,363.92,368.72,409.72,440.72,214.52,189.1
Total Exp. Ann.
1.1%
14.9%
 35,94131,78230,37134,77023,34217,93618,80217,43415,33412,37713,909
Net Income Continuing Discontinued Operations Ann.
-0.4%
-
11,75410,8206,1068,23310,9377,664-4355,4162,5912,397-204-637
Normalized Income Ann.
-19%
-
8,735.96,023.86,923.87,96011,342.67,117.3-651.55,2693,054.71,543.6-644.3-1,016.1
Interest Income Ann.
19.2%
23.3%
 205815512132727659974853
Interest Ann.
15.7%
4.6%
8941,039673691670743828912798728431374
EBITDA Ann.
0.2%
29.5%
25,37521,88715,41317,26921,72716,3786,00111,4149,4818,7874,2265,190
Reconciled Cost Of Rev. Ann.
1.5%
14.8%
37,88434,76630,61129,06233,27022,27717,42218,04517,06914,71711,53513,392
Reconciled Depr. Ann.
1.1%
4.7%
9,5287,6076,6816,4137,3535,7246,0465,5465,1615,1864,8585,483
Profit From Continuing Operations Ann.
-0.4%
-
11,75410,8206,1068,23310,9377,664-4355,4162,5912,397-204-637
Normalized EBITDA Ann.
-10.3%
23.1%
21,42816,03816,48916,93222,23415,6685,67311,21410,0687,6183,6274,793
*All financials are in CAD Million and price data in USD
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Total Rev. Ann.
1Y CHG
6.4%
2Y CAGR
4%
3Y CAGR
-3.7%
5Y CAGR
20.4%
7Y CAGR
10.3%
10Y CAGR
12.9%
Total Revenue Annual growth is stable compared to historical averages.
Net Profit Ann.
1Y CHG
77.2%
2Y CAGR
14.6%
3Y CAGR
-0.4%
7Y CAGR
22.7%
Net Profit Annual growth is stable compared to historical averages.
Operating Exp. Ann.
1Y CHG
0.3%
2Y CAGR
-5.3%
3Y CAGR
-7.8%
5Y CAGR
18%
7Y CAGR
18.2%
10Y CAGR
8.6%
Operating Expenses Annual Cr growth is stable compared to historical averages.

Canadian Natural Resources Ltd balance sheet as of Dec 2025: assets, liabilities, reserves, and borrowings – 11 year history

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  • POSITIVE

    Total Shareholders Fund Canadian Natural Resources Ltd Dec-2025 Total Shareholders Fund is $44,366 Million which is growth of 12.4% YoY.

  • POSITIVE

    Total Assets Canadian Natural Resources Ltd Dec-2025 Total Assets is $91,830 Million which is growth of 7.6% YoY.

Canadian Natural Resources Ltd., Balance Sheet, standalone, All financials are in CAD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
6.4%
4.1%
91,83085,35975,95576,14276,66575,27678,12171,55973,86758,64859,275
⌄
7.7%
2%
47,46445,89136,12337,96739,72042,89643,13039,58542,21432,38131,894
⌄
5.1%
6.5%
44,36639,46839,83238,17536,94532,38034,99131,97431,65326,26727,381
Total Capitalization Ann.
7.1%
2.9%
60,54255,88749,65149,21650,63952,49053,58251,45652,23441,26042,446
Tangible Assets Ann.
5.1%
6.5%
44,36639,46839,83238,17536,94532,38034,99131,97431,65326,26727,381
Working Capital Ann.
-
-
-399-2,226-268-1,594-1,480-717-2,150-1,742-1,364-756-536
Invested Capital Ann.
7.1%
2.5%
60,98358,28750,63149,62051,63953,83355,97352,59754,11143,07244,175
Tangible Book Value Ann.
5.1%
6.5%
44,36639,46839,83238,17536,94532,38034,99131,97431,65326,26727,381
Borrowings Ann.
13.2%
-5%
16,61718,81910,79911,44514,69421,45320,98220,62322,45816,80516,794
Net Debt Ann.
14.8%
-5.6%
15,94418,6889,92210,52513,95021,26920,84320,52222,32116,78816,725
Share Issued Ann.
-1.9%
-2.5%
2,081.62,1032,144.82,205.32,336.72,367.72,373.72,403.82,445.52,221.92,189.3
Number Of Shares End
-2%
-2.5%
2,083.12,108.12,159.42,211.52,349.22,363.92,368.72,409.72,440.72,214.52,189.1
*All financials are in CAD Million and price data in USD
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Total Assets Ann.
1Y CHG
7.6%
2Y CAGR
10%
3Y CAGR
6.4%
5Y CAGR
4.1%
7Y CAGR
3.6%
10Y CAGR
4.5%
Total Assets Annual growth is higher than historical averages.
Total Current Liabilities Ann.
1Y CHG
-16.3%
2Y CAGR
4.1%
3Y CAGR
-2.3%
5Y CAGR
9.7%
7Y CAGR
7.8%
10Y CAGR
5.8%
Total Current Liabilities Annual Cr is falling faster than historical averages.
Total ShareHolders Funds Ann.
1Y CHG
12.4%
2Y CAGR
5.5%
3Y CAGR
5.1%
5Y CAGR
6.5%
7Y CAGR
4.8%
10Y CAGR
4.9%
Total ShareHolders Funds Annual growth is higher than historical averages.

Canadian Natural Resources Ltd ROE, ROCE, book value, and debt-to-equity ratio as of Dec 2025 – 11 year history

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  • POSITIVE

    Book Value Per Share Canadian Natural Resources Ltd Book Value Per Share is $14 which is growth of 9.7% YoY.

  • NEUTRAL

    ROE Canadian Natural Resources Ltd ROE is 0% which is growth of 0% YoY.

Canadian Natural Resources Ltd., Ratios, standalone, All financials are in CAD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
RoA Ann. %
-
-
-7.57%10.83%14.31%10.09%-0.57%7.24%3.56%3.62%-0.35%-1.07%
ROE Ann. %
-
-
-15.40%21.11%29.12%22.11%-1.29%16.18%8.14%8.28%-0.76%-2.26%
ROIC %
-
-
-2.45.53.35.21.81.4-1.11.11.60.5
OPM Ann. %
-14.5%
-
18.62%23.43%25.63%29.80%28.95%-2.54%22.92%21.76%13.22%-11.52%-5.64%
Inventory Turnover Ratio Ann.
-
-
-12.715.119.817.115.817.118.518.61922.5
Asset Turnover Ann. %
-
-
-0.50.50.70.40.20.30.30.30.20.2
Working Capital Turnover Ann.
-
-
-110.7-18.7-152.4-31.1-22.2-24.4-11.4-12.8-13-14.7-24.6
Quick Ratio Ann.
-
-
-0.40.60.60.60.60.50.40.60.60.7
Current Ratio Ann.
-
-
-0.810.80.80.90.70.60.80.90.9
Interest Coverage Ratio Ann.
-
-
-1315.721.514.3-0.16.45.45-1.5-0.8
LT Debt To Equity Ann.
-
-
-0.40.30.30.40.60.50.60.70.60.6
*All financials are in CAD Million and price data in USD
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Canadian Natural Resources Ltd cash flow: net, operating, investing, and financing flows as of Dec 2025 – 11 year history

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  • POSITIVE

    Cash From Operating Activity Canadian Natural Resources Ltd Dec-2025 Cash From Operating Activity is $15,106 Million which is growth of 12.8% YoY.

  • POSITIVE

    Net Cash Flow Canadian Natural Resources Ltd Dec-2025 Net Cash Flow is $542 Million which is growth of 172.7% YoY.

Canadian Natural Resources Ltd., Cash Flow, standalone, All financials are in CAD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
-8%
26.2%
15,10613,38612,35319,39114,4784,7148,82910,1217,2623,4525,632
⌄
-
-
-6,687-14,095-4,858-4,987-3,703-2,819-7,255-4,814-13,102-3,811-5,465
⌄
-
-
-7,877-37-7,538-14,228-10,215-1,850-1,536-5,3435,960307-123
Cash Plus Cash Eqv. End Of Year Ann.
-9.9%
29.6%
6731318779207441841391011371769
Net Increase In Cash Plus Cash Eqv.s Ann.
45.5%
64.5%
542-746-431765604538-36120-5244
Cash Plus Cash Eqv. Begin Of Year Ann.
-44%
-1.2%
131877920744184139101137176925
Income Tax Paid Supplemental Data Ann.
-17.4%
-
1,7221,1443,3173,057--445--42
Interest Paid Supplemental Data Ann.
16.8%
5.6%
978586602613672745865911725617541
Capex Ann.
-
-
-6,791-5,383-4,909-5,136-4,493-2,560-3,608-4,441-4,698-3,803-4,704
Issuance Of Capital Stock Ann.
-
-
-----------
Issuance Of Debt Ann.
-
-2.1%
1,6348,105---1,819-6,7461,3401,077
Repayment Of Debt Ann.
-
-
-3,455-1,333-701-4,242-7,171-1,722-237-2,831--834-
Repurchase Of Capital Stock Ann.
-
-
-1,449-2,660-3,318-5,571-1,581-271-941-1,282-
Free Cash Flow Ann.
-16.4%
31%
8,3158,0037,44414,2559,9852,1545,2215,6802,564-351928
*All financials are in CAD Million and price data in USD
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Cash from Operating Act. Ann.
1Y CHG
12.8%
2Y CAGR
10.6%
3Y CAGR
-8%
5Y CAGR
26.2%
7Y CAGR
5.9%
10Y CAGR
10.4%
Cash from Operating Activity Annual growth is stable compared to historical averages.
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