Your Best Stock
Stocks Oil & Gas E&P CNQ

Canadian Natural Resources CNQ

US equityMarket cap rank #160Oil & Gas E&P
$48.20
+$0.56 (+1.18%)
Market open · Sep 24, 1:10 pm ET
After hours $48.00 +0.76%
Open$48.07
Prev close$47.64
Day range$47.94 – $48.63
Volume2.95M
Market cap$99.36B
P/E (TTM)12.1
Dividend yield3.54%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026 · reported in CAD

RevenueC$17.21B+77.9% YoY
Operating profitC$6.35B+208.3% YoY
Net profitC$4.50B+83.1% YoY
Diluted EPSC$2.15+83.8% YoY
Free cash flowC$4.42B+268.5% YoY
Operating cash flowC$6.82B

Revenue, last 8 quarters

C$10.4BSep '24C$11.1BDec '24C$12.7BMar '25C$9.7BJun '25C$11.1BSep '25C$10.7BDec '25C$12.4BMar '26C$17.2BJun '26

Net profit, last 8 quarters

C$2.3BSep '24C$1.1BDec '24C$2.5BMar '25C$2.5BJun '25C$600.0MSep '25C$5.3BDec '25C$1.3BMar '26C$4.5BJun '26

Diluted EPS by quarter

1.06Sep '240.54Dec '241.17Mar '251.17Jun '250.29Sep '252.54Dec '250.64Mar '262.15Jun '26

Free cash flow by quarter

C$1.7BSep '24C$2.1BDec '24C$3.0BMar '25C$1.2BJun '25C$1.9BSep '25C$2.3BDec '25C$1.2BMar '26C$4.4BJun '26

Annual revenue

C$17.5BFY20C$32.9BFY21C$49.5BFY22C$40.8BFY23C$41.5BFY24C$44.2BFY25

Profitability & balance sheet

Gross margin26.3%
Operating margin23.2%
Net margin22.9%
Return on equity26.7%
Return on assets12.9%
Return on invested capital20.6%
Current ratio1.00
Liabilities / assets51.5%
Cash & investmentsC$2.62B
Total debtC$17.14B
Net cash (debt)-C$14.53B
Free cash flow / sales18.8%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Oil Sands Mining and UpgradingC$8.33B 48.4%
  • Exploration and ProductionC$8.12B 47.2%
  • Inter-segment elimination and otherC$392.00M 2.3%
  • Midstream and RefiningC$369.00M 2.1%

This company reports in its own local currency, not U.S. dollars. Every figure below is labeled with its real currency, not automatically converted.

Income statement

Line item 2026 Q2
(CAD)
2026 Q1
(CAD)
2025 ANNUAL
(CAD)
2025 Q4
(CAD)
2025 Q3
(CAD)
Total Revenue as Reported C$17.21B C$12.40B C$44.17B C$10.71B C$11.07B
Total Operating Revenue C$17.21B C$12.40B C$44.17B C$10.71B C$11.07B
Cost of Revenue C$10.80B C$8.84B C$34.77B C$8.57B C$9.68B
Gross Profit C$6.41B C$3.57B C$9.40B C$2.14B C$1.39B
Operating Expense C$61.00M C$896.00M C$1.18B C$347.00M C$310.00M
Selling and Admin Expenses -C$37.00M C$798.00M C$795.00M C$243.00M C$215.00M
-General & Admin Expense -C$37.00M C$798.00M C$795.00M C$243.00M C$215.00M
Other Operating Expenses C$98.00M C$98.00M C$380.00M C$104.00M C$95.00M
Operating Profit C$6.35B C$2.67B C$8.23B C$1.79B C$1.08B
Net Non-Operating Interest Income (Expense) -C$238.00M -C$318.00M -C$834.00M -C$245.00M -C$93.00M
Non-Operating Interest Expense C$238.00M C$318.00M C$1.04B C$245.00M C$93.00M
Other Income (Expense) -C$225.00M -C$623.00M C$5.85B C$5.30B -C$504.00M
Gain on Sale of Security -C$225.00M -C$623.00M C$780.00M C$310.00M -C$504.00M
Special Income (Charges) C$0.00 C$5.07B C$4.99B C$0.00
-Less:Restructuring and Mergern & Acquisition C$0.00 -C$5.07B -C$4.99B C$0.00
Pretax Profit C$5.89B C$1.73B C$13.24B C$6.85B C$487.00M
Tax C$1.39B C$382.00M C$2.42B C$1.55B -C$113.00M
Net Profit C$4.50B C$1.35B C$10.82B C$5.30B C$600.00M
Profit from Continuing Operations C$4.50B C$1.35B C$10.82B C$5.30B C$600.00M
Net Income to Parent Company C$4.50B C$1.35B C$10.82B C$5.30B C$600.00M
Net Income to Common Stockholders C$4.50B C$1.35B C$10.82B C$5.30B C$600.00M
Basic EPS C$2.17 C$0.65 C$5.17 C$2.55 C$0.29
Diluted EPS C$2.15 C$0.64 C$5.16 C$2.54 C$0.29
Dividend Per Share C$0.63 C$0.63 C$2.35 C$0.59 C$0.59
Non-Operating Interest Income C$205.00M

Balance sheet

Line item 2026 Q2
(CAD)
2026 Q1
(CAD)
2025 ANNUAL
(CAD)
2025 Q4
(CAD)
2025 Q3
(CAD)
Total Assets C$96.58B C$94.05B C$91.83B C$91.83B C$85.59B
Total Current Assets C$11.33B C$9.37B C$7.66B C$7.66B C$7.18B
Cash and Cash Equivalents & Short-Term Investments C$2.62B C$808.00M C$673.00M C$673.00M C$113.00M
-Cash and Cash Equivalents C$2.62B C$808.00M C$673.00M C$673.00M C$113.00M
Receivables C$5.28B C$5.25B C$4.00B C$4.00B C$3.75B
-Accounts Receivable C$5.28B C$5.25B C$4.00B C$4.00B C$3.75B
Inventory C$2.79B C$2.92B C$2.62B C$2.62B C$2.77B
Other Current Assets C$636.00M C$390.00M C$371.00M C$371.00M C$554.00M
Total Non-Current Assets C$85.26B C$84.68B C$84.17B C$84.17B C$78.41B
Net PPE C$84.45B C$83.79B C$83.30B C$83.30B C$77.46B
-Gross PPE C$179.40B C$176.99B C$174.91B C$174.91B C$171.29B
-Accumulated Depreciation -C$94.95B -C$93.20B -C$91.61B -C$91.61B -C$93.83B
Other Non-Current Assets C$809.00M C$886.00M C$869.00M C$869.00M C$948.00M
Total Liabilities C$49.79B C$49.41B C$47.46B C$47.46B C$45.13B
Total Current Liabilities C$11.32B C$9.52B C$8.06B C$8.06B C$8.31B
Payables C$2.55B C$2.07B C$1.70B C$1.70B C$1.87B
-Accounts Payable C$1.56B C$1.58B C$1.11B C$1.11B C$1.33B
-Total Tax Payable C$986.00M C$484.00M C$597.00M C$597.00M C$540.00M
Current Accrued Expenses C$4.79B C$5.05B C$4.26B C$4.26B C$4.15B
Short-Term Debt and Capital Lease Obligation C$2.21B C$441.00M C$441.00M C$441.00M C$829.00M
-Current Debt C$2.21B C$441.00M C$441.00M C$441.00M C$829.00M
Other Current Liabilities C$1.76B C$1.96B C$1.67B C$1.67B C$1.46B
Total Non-Current Liabilities C$38.47B C$39.89B C$39.40B C$39.40B C$36.82B
Long Term Debt and Capital Lease Obligation C$14.93B C$16.52B C$16.18B C$16.18B C$16.44B
-Long Term Debt C$14.93B C$16.52B C$16.18B C$16.18B C$16.44B
Non-Current Deferred Liabilities C$11.37B C$11.09B C$11.29B C$11.29B C$10.00B
Other Non-Current Liabilities C$12.17B C$12.28B C$11.94B C$11.94B C$10.38B
Total Equity C$46.80B C$44.64B C$44.37B C$44.37B C$40.46B
Stockholders' Equity C$46.80B C$44.64B C$44.37B C$44.37B C$40.46B
Capital Stock C$11.85B C$11.91B C$11.42B C$11.42B C$11.32B
-Common Stock C$11.85B C$11.91B C$11.42B C$11.42B C$11.32B
Retained Earnings C$34.68B C$32.49B C$32.73B C$32.73B C$28.91B
Gains/Losses Not Affecting Retained Earnings C$262.00M C$240.00M C$219.00M C$219.00M C$235.00M

Cash flow

Line item 2026 Q2
(CAD)
2026 Q1
(CAD)
2025 ANNUAL
(CAD)
2025 Q4
(CAD)
2025 Q3
(CAD)
Operating Cash Flow C$6.82B C$3.28B C$15.11B C$3.77B C$3.94B
Net cash flow from continuing operations C$6.82B C$3.28B C$15.11B C$3.77B C$3.94B
Net Income from Continuing Operations C$4.50B C$1.35B C$10.82B C$5.30B C$600.00M
Gain/Loss from Continuing Operations C$247.00M C$580.00M -C$699.00M -C$293.00M C$483.00M
Depreciation & Depletion & Amortization C$1.90B C$1.88B C$7.61B C$2.54B C$3.21B
Deferred Tax C$312.00M -C$173.00M C$510.00M C$1.00B -C$532.00M
Other Non-Cash Items -C$65.00M -C$176.00M -C$3.98B -C$5.00B -C$317.00M
Change in Working Capital C$120.00M -C$818.00M C$672.00M C$134.00M C$432.00M
Net cash flow from investing -C$2.47B -C$1.95B -C$6.69B -C$1.20B -C$2.23B
Net Cash Flow from Continuing Investing Activities -C$2.47B -C$1.95B -C$6.69B -C$1.20B -C$2.23B
Capital Expenditure -C$2.41B -C$2.09B -C$6.79B -C$1.45B -C$2.06B
Net Other Investing Changes -C$63.00M -C$7.00M C$104.00M C$249.00M -C$173.00M
Financing Cash Flow -C$2.55B -C$1.24B -C$7.88B -C$2.01B -C$1.70B
Net Cash Flow from Continuing Financing Activities -C$2.55B -C$1.24B -C$7.88B -C$2.01B -C$1.70B
Net Issuance Payments Of Debt -C$168.00M C$0.00 -C$1.82B -C$561.00M -C$198.00M
Net Common Stock Issuance -C$1.10B -C$311.00M -C$1.45B -C$294.00M -C$309.00M
Cash Dividends Paid -C$1.30B -C$1.22B -C$4.87B -C$1.23B -C$1.23B
Proceeds from Stock Option Exercised C$25.00M C$293.00M C$264.00M C$73.00M C$40.00M
Ending Cash Balance C$2.62B C$808.00M C$673.00M C$673.00M C$113.00M
Net Change in Cash C$1.81B C$91.00M C$542.00M C$560.00M C$11.00M
Beginning Cash Balance C$808.00M C$717.00M C$131.00M C$113.00M C$102.00M
Free Cash Flow C$4.42B C$1.19B C$8.32B C$2.31B C$1.88B
Net Investment Purchase and Sale C$150.00M C$0.00 C$0.00 C$0.00
Net PPE Purchase and Sale -C$115.00M C$5.00M
Net Business Purchase and Sale C$0.00 C$0.00
Scroll to Top