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Canadian Natural Resources Limited

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Canadian integrated oil sands and conventional upstream producer with US listings.

Sector: United States / Canada — oil & gas exploration & production

US_EP_CNQ

Price chart

47.57 USDDay 0.78%
50.0944.3638.6432.9127.182024-05-132026-05-14min 27.18 · max 50.09

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
47.57 USD · 0.78%
Market cap
99.8 bn USD

Growth

Δ revenue y/y
-2.0%
Δ EBITDA y/y
-25.5%

Multiples

P/E (LTM)
14.5x
P/B (FY)
EV/EBITDA (LTM)
7.4x

Cash return

Dividend yield
1.9%
FCF yield (LTM)
4.8%

Liquidity

Daily turnover (US listing)
197.5 mln USD

Shares: connector/market_inputs

Amounts: USD (converted) · KZT (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDInvesting CFM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026OK7653.5
y/y -2.0%
1450.01328.9
y/y -0.5%
2778.9
y/y -25.5%
954.4
y/y -45.6%
2323.7-1379.966585.3
y/y 10.0%
31603.7
y/y 9.4%
12.2%11436.3Link
2025-12-31Q4 2025OK6745.5
y/y
4979.31781.7
y/y
6761.0
y/y
3722.7
y/y
2645.1-842.464464.7
y/y
31144.9
y/y
49.3%11192.7Link
2025-09-30Q3 2025OK6889.6
y/y
419.9
y/y
419.9
y/y
434.4
y/y
2852.6-1617.461966.4
y/y
29293.8
y/y
2.0%12420.2Link
2025-06-30Q2 2025OK6253.9
y/y
2190.81269.0
y/y
3459.8
y/y
1768.0
y/y
2239.0-1395.661307.7
y/y
29693.3
y/y
24.1%12207.9Link
2025-03-31Q1 2025OK7810.4
y/y
2395.51335.2
y/y
3730.6
y/y
1755.0
y/y
3058.8-936.860557.2
y/y
28877.7
y/y
12377.2Link
2024-12-31FY 2024OK
y/y
y/y
y/y
y/y
y/y
y/y
Link

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

1571151914681416136420242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves life (R/P): 27.7 yr

159101575715604154511529820242025Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2025-12-311,57115,910
2024-12-311,36415,298

Spot EBITDA forecast (next 12 months)

Model: apply spot-vs-LTM commodity price moves to LTM revenue mix (oil/gas/NGL). Purchased products scale with revenue; remaining cash expenses inflate (PPI proxy).

Notes: Revenue mix derived from FY2025 10-K production volumes × realized sales prices (see Production & realized prices table below).
Spot 12M revenue
39 142 USDm
+42.1% vs LTM
Spot 12M EBITDA
27 556 USDm
+75.0% vs LTM
Show calculation
InputValue
LTM revenue (last 4 quarters)27 542 USDm
LTM EBITDA (last 4 quarters)15 744 USDm
Mix: oil / gas / NGL / other94.3% / 5.7% / 0.0% / 0.0%
Mix sourceFY2025 10-K production × realized prices
Oil price move (spot vs LTM avg)+45.5%
Gas price move (spot vs LTM avg)-14.1%
NGL price move (spot vs LTM avg)+24.8%
Purchased products ratio0.0%
Inflation multiplier (12m)0.982
· Crude oil — 418.45 MMBbls × 69.81 USD/bbl29 212 USDm (94.3% of implied)
· Natural gas — 929,655.00 MMcf × 1.89 USD/Mcf1 757 USDm (5.7% of implied)

2025-12-31 · FY

Production & proved reserves

FY2025 record annual production and year-end proved reserves per Canadian Natural FY2025 results release.

Line itemAmount
Crude oil equivalent (net, Mboe/d)1,571
Proved reserves (net, MMboe)15,910

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 40-F (cnq-20251231.htm). Volumes annualised (×365) from company-reported bbl/d & MMcf/d in the Average Daily Production table; realised prices are derived from FY2025 product-sales totals (C$40,740M for crude oil & NGLs; C$2,450M for natural gas) divided by annualised volumes, then translated CAD→USD at 0.717 USD/CAD (BoC 2025 average noon rate ≈ 1.395 CAD/USD). NGLs are bundled with crude in CNQ's reporting and are included in the oil bucket here.

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil418.5 MMBbls69.81 USD/bbl29,212.394.3%
Natural gas929,655 MMcf1.89 USD/Mcf1,7575.7%
Total (implied product revenue)30,969.3100.0%

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

FY2024 approximations derived from FY2025 release: production +207 Mboe/d YoY; proved reserves +4% YoY.

Line itemAmount
Crude oil equivalent (net, Mboe/d)1,364
Proved reserves (net, MMboe)15,298

Primary SEC filing for this FY (HTML)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-03-200.455 USDEx-dividend: 0.455 USD per sharePaidYahoo Finance (ex-div)
2025-06-130.432 USDEx-dividend: 0.432 USD per sharePaidYahoo Finance (ex-div)
2025-03-210.41 USDEx-dividend: 0.41 USD per sharePaidYahoo Finance (ex-div)
2024-12-130.39 USDEx-dividend: 0.39 USD per sharePaidYahoo Finance (ex-div)
2024-09-130.387 USDEx-dividend: 0.387 USD per sharePaidYahoo Finance (ex-div)
2024-06-170.382 USDEx-dividend: 0.382 USD per sharePaidYahoo Finance (ex-div)
2024-03-140.39 USDEx-dividend: 0.39 USD per sharePaidYahoo Finance (ex-div)
2023-12-070.368 USDEx-dividend: 0.368 USD per sharePaidYahoo Finance (ex-div)
2023-09-140.332 USDEx-dividend: 0.332 USD per sharePaidYahoo Finance (ex-div)
2023-06-150.338 USDEx-dividend: 0.338 USD per sharePaidYahoo Finance (ex-div)
2023-03-160.327 USDEx-dividend: 0.327 USD per sharePaidYahoo Finance (ex-div)
2022-12-150.314 USDEx-dividend: 0.314 USD per sharePaidYahoo Finance (ex-div)
2022-09-150.285 USDEx-dividend: 0.285 USD per sharePaidYahoo Finance (ex-div)
2022-08-220.5775 USDEx-dividend: 0.5775 USD per sharePaidYahoo Finance (ex-div)
2022-06-160.285 USDEx-dividend: 0.285 USD per sharePaidYahoo Finance (ex-div)
2022-03-170.2899 USDEx-dividend: 0.2899 USD per sharePaidYahoo Finance (ex-div)
2021-12-090.2272 USDEx-dividend: 0.2272 USD per sharePaidYahoo Finance (ex-div)
2021-09-160.1822 USDEx-dividend: 0.1822 USD per sharePaidYahoo Finance (ex-div)
2021-06-170.1876 USDEx-dividend: 0.1876 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.cnrl.com/investors/financials/

Reporting forms detected in loaded periods: (Balance sheet / Profit or loss (P&L) / Cash flows)