Canadian Natural Resources Ltd
NYSE: CNQ · ENERGY · OIL & GAS E&P
Updated 2026-06-12
Canadian Natural Resources Ltd (CNQ) Financial statements
SEC filings — annual and quarterly data.
Balance sheet — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $33.16B | $36.11B | $42.65B | $41.02B | $42.67B | $47.28B | $48.98B | $51.75B | $60.20B | $59.27B | $58.65B | $73.87B | $71.56B | $78.12B | $75.28B | $76.67B | $76.14B | $75.95B | $85.36B | $91.76B |
| Cash & equivalents | $23.30M | $20.86M | $26.71M | $13.00M | $22.00M | $34.00M | $37.00M | $16.00M | $25.00M | $69.00M | $17.00M | $137.00M | $101.00M | $139.00M | $184.00M | $744.00M | $920.00M | $877.00M | $131.00M | $672.45M |
| Current assets | $2.24B | $2.18B | $3.39B | $1.89B | $2.17B | $2.78B | $1.91B | $2.22B | $3.49B | $4.06B | $4.34B | $4.90B | $3.02B | $4.49B | $4.36B | $5.94B | $7.06B | $7.17B | $7.41B | $7.66B |
| Total liabilities | $22.47B | $22.79B | $24.28B | $21.60B | $21.68B | $24.38B | $24.70B | $25.98B | $31.31B | $31.89B | $32.38B | $42.21B | $39.59B | $43.13B | $42.90B | $39.72B | $37.97B | $36.12B | $45.89B | $47.43B |
| Current liabilities | $3.07B | $3.56B | $3.42B | $2.40B | $3.16B | $4.03B | $3.98B | $5.23B | $5.14B | $4.59B | $5.09B | $6.26B | $4.76B | $6.64B | $5.08B | $7.42B | $8.65B | $7.43B | $9.63B | $8.06B |
| Long-term debt | $9.47B | $10.98B | $10.35B | $9.18B | $8.52B | $8.05B | $8.00B | $7.74B | $9.64B | $15.06B | $14.99B | $20.58B | $19.48B | $18.59B | $20.11B | $13.69B | $11.04B | $9.82B | $16.42B | $16.18B |
| Shareholder equity | $10.69B | $13.32B | $18.37B | $19.43B | $20.98B | $22.90B | $24.28B | $25.77B | $28.89B | $27.38B | $26.27B | $31.65B | $31.97B | $34.99B | $32.38B | $36.95B | $38.17B | $39.83B | $39.47B | $44.33B |
| Retained earnings | $8.14B | $10.58B | $15.34B | $16.70B | $18.00B | $19.36B | $20.52B | $21.88B | $24.41B | $22.77B | $21.53B | $22.61B | $22.53B | $25.42B | $22.77B | $26.78B | $27.67B | $28.95B | $28.10B | $32.70B |
| Accounts receivable | $1.95B | $1.66B | $1.51B | $1.15B | $1.48B | $2.08B | $1.20B | $1.43B | $2.12B | $1.95B | $2.29B | $2.72B | $1.15B | $2.48B | $2.50B | $3.11B | $3.56B | $3.19B | $4.13B | $4.00B |
| Inventory | $163.09M | $479.69M | $0.00 | $584.00M | $610.00M | $550.00M | $554.00M | $632.00M | $665.00M | $525.00M | $689.00M | $894.00M | $955.00M | $1.15B | $1.06B | $1.55B | $1.81B | $2.03B | $2.79B | $2.62B |
| Goodwill | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — |
Frequently asked questions
What is Canadian Natural Resources Ltd's revenue?
Canadian Natural Resources Ltd's trailing twelve-month revenue is $38.63B, and consensus projects about $42.80B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is CNQ?
In its most recent fiscal year, CNQ ran a gross margin of 21.29%, an operating margin of 18.62%, and a net margin of 24.50%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does CNQ generate?
CNQ produced $8.42B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is CNQ's balance sheet healthy?
CNQ holds $672.45M in cash and equivalents against $16.18B in long-term debt, on $44.33B of shareholder equity. That debt is best read against the cash flow the business throws off each year.