Canadian Natural Resources (CNQ) financial statements
Canadian Natural Resources reported revenue of 38.8B CAD in fiscal 2025, up 14.5% a year over 9 years.
Net income was 10.8B CAD.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions (CAD).
Income statement
Fiscal years, in CAD, from Canadian Natural Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11.4B CAD | 17.3B CAD | 21.0B CAD | 22.9B CAD | 16.9B CAD | 30.1B CAD | 42.3B CAD | 36.0B CAD | 35.7B CAD | 38.8B CAD |
| Selling, general and admin | 345M CAD | 319M CAD | 325M CAD | 344M CAD | 391M CAD | 366M CAD | 415M CAD | 452M CAD | 503M CAD | 615M CAD |
| Interest expense | 431M CAD | 728M CAD | 798M CAD | 912M CAD | 828M CAD | 743M CAD | 670M CAD | 691M CAD | 673M CAD | 1.0B CAD |
| Pre-tax income | -1.1B CAD | 2.9B CAD | 3.5B CAD | 5.0B CAD | -873M CAD | 9.9B CAD | 13.7B CAD | 10.2B CAD | 8.1B CAD | 13.2B CAD |
| Income tax | -859M CAD | 476M CAD | 931M CAD | -460M CAD | -438M CAD | 2.2B CAD | 2.8B CAD | 1.9B CAD | 2.0B CAD | 2.4B CAD |
| Net income | -204M CAD | 2.4B CAD | 2.6B CAD | 5.4B CAD | -435M CAD | 7.7B CAD | 10.9B CAD | 8.2B CAD | 6.1B CAD | 10.8B CAD |
| EPS (diluted) | -0.10 CAD | 1.01 CAD | 1.06 CAD | 2.27 CAD | -0.18 CAD | 3.23 CAD | 4.76 CAD | 3.74 CAD | 2.85 CAD | 5.16 CAD |
| Diluted shares | 2.20B | 2.37B | 2.45B | 2.39B | 2.36B | 2.37B | 2.30B | 2.20B | 2.14B | 2.10B |
| Net margin | -1.8% | 13.8% | 12.3% | 23.7% | -2.6% | 25.5% | 25.9% | 22.9% | 17.1% | 27.9% |
Balance sheet
Fiscal years, in CAD, from Canadian Natural Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | 930M CAD | 1.0B CAD | 625M CAD | 629M CAD | 489M CAD | 1.1B CAD | 1.4B CAD | 1.4B CAD | 131M CAD | 673M CAD |
| Receivables | 1.4B CAD | 2.4B CAD | 1.1B CAD | 2.5B CAD | 2.2B CAD | 3.1B CAD | 3.6B CAD | 3.2B CAD | 4.1B CAD | 4.0B CAD |
| Inventory | 689M CAD | 894M CAD | 955M CAD | 1.2B CAD | 1.1B CAD | 1.5B CAD | 1.8B CAD | 2.0B CAD | 2.8B CAD | 2.6B CAD |
| Total current assets | 4.3B CAD | 4.9B CAD | 3.0B CAD | 4.5B CAD | 4.4B CAD | 5.9B CAD | 7.1B CAD | 7.2B CAD | 7.4B CAD | 7.7B CAD |
| Property, plant and equipment | 50.9B CAD | 65.2B CAD | 64.6B CAD | 68.0B CAD | 65.8B CAD | 66.4B CAD | 64.9B CAD | 64.6B CAD | 73.4B CAD | 77.6B CAD |
| Total assets | 58.6B CAD | 73.9B CAD | 71.6B CAD | 78.1B CAD | 75.3B CAD | 76.7B CAD | 76.1B CAD | 76.0B CAD | 85.4B CAD | 91.8B CAD |
| Total current liabilities | 5.1B CAD | 6.3B CAD | 4.8B CAD | 6.6B CAD | 5.1B CAD | 7.4B CAD | 8.7B CAD | 7.4B CAD | 9.6B CAD | 8.1B CAD |
| Long-term debt | 15.0B CAD | 20.6B CAD | 19.5B CAD | 18.6B CAD | 20.1B CAD | 13.7B CAD | 11.0B CAD | 9.8B CAD | 16.4B CAD | 16.2B CAD |
| Total liabilities | 32.4B CAD | 42.2B CAD | 39.6B CAD | 43.1B CAD | 42.9B CAD | 39.7B CAD | 38.0B CAD | 36.1B CAD | 45.9B CAD | 47.5B CAD |
| Shareholders' equity | 26.3B CAD | 31.7B CAD | 32.0B CAD | 35.0B CAD | 32.4B CAD | 36.9B CAD | 38.2B CAD | 39.8B CAD | 39.5B CAD | 44.4B CAD |
| Net debt | 16.8B CAD | 22.3B CAD | 20.5B CAD | 20.8B CAD | 21.3B CAD | 13.9B CAD | 10.5B CAD | 9.9B CAD | 18.7B CAD | 15.9B CAD |
Cash flow
Fiscal years, in CAD, from Canadian Natural Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 3.5B CAD | 7.3B CAD | 10.1B CAD | 8.8B CAD | 4.7B CAD | 14.5B CAD | 19.4B CAD | 12.4B CAD | 13.4B CAD | 15.1B CAD |
| Capital spending | 4.2B CAD | 4.6B CAD | 4.2B CAD | — | — | — | — | — | — | — |
| Free cash flow | -700M CAD | 2.7B CAD | 5.9B CAD | — | — | — | — | — | — | — |
| Stock-based compensation | 355M CAD | 134M CAD | -146M CAD | 223M CAD | -82M CAD | 514M CAD | 804M CAD | 491M CAD | 279M CAD | 180M CAD |
| Dividends paid | 758M CAD | 1.3B CAD | 1.6B CAD | 1.7B CAD | 1.9B CAD | 2.2B CAD | 4.9B CAD | 3.9B CAD | 4.4B CAD | 4.9B CAD |
| Share buybacks (net) | 0 CAD | 0 CAD | -1.3B CAD | -941M CAD | -271M CAD | -1.6B CAD | -5.6B CAD | -3.3B CAD | -2.7B CAD | -1.4B CAD |
| Net borrowing | — | — | 0 CAD | 0 CAD | -397M CAD | -183M CAD | 0 CAD | 0 CAD | — | — |
| Free cash flow margin | -6.1% | 15.5% | 28.3% | — | — | — | — | — | — | — |
| Dividends per share | 0.34 CAD | 0.53 CAD | 0.64 CAD | 0.73 CAD | 0.83 CAD | 0.91 CAD | 2.14 CAD | 1.77 CAD | 2.07 CAD | 2.32 CAD |
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What was Canadian Natural Resources's revenue in 2025?
38.8B CAD in fiscal 2025, from its 10-K filing.
From Canadian Natural Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.