CANADIAN NATURAL RESOURCES Ltd financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CANADIAN NATURAL RESOURCES Ltd files with the SEC in its annual reports.
In CAD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
11,427
17,342
21,027
22,871
16,893
30,057
42,298
35,968
35,656
38,762
General and administrative
345
319
325
344
391
366
415
452
503
615
Interest expense
431
728
798
912
828
743
670
691
673
1,039
Interest income
48
97
59
76
72
32
121
55
81
205
Pre-tax income
-1,063
2,873
3,522
4,956
-873
9,911
13,704
10,165
8,059
13,241
Income tax
-859
476
931
-460
-438
2,247
2,767
1,932
1,953
2,421
Net income
-204
2,397
2,591
5,416
-435
7,664
10,937
8,233
6,106
10,820
EPS, basic
-0.10
1.02
1.07
2.28
-0.19
3.25
4.82
3.77
2.87
5.17
EPS, diluted
-0.10
1.02
1.06
2.27
-0.19
3.23
4.76
3.74
2.85
5.16
Balance sheet
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
17
137
101
139
184
744
920
877
131
673
Short-term investments
913
893
524
490
305
309
491
525
0
Inventory
689
894
955
1,152
1,060
1,548
1,815
2,034
2,793
2,621
Total current assets
4,336
4,897
3,020
4,487
4,361
5,942
7,057
7,167
7,405
7,664
Property, plant and equipment
50,910
65,170
64,559
68,043
65,752
66,400
64,859
64,581
73,414
77,645
Lease right-of-use assets
1,789
1,645
1,508
1,447
1,458
1,394
3,001
Total assets
58,648
73,867
71,559
78,121
75,276
76,665
76,142
75,955
85,359
91,830
Short-term debt
336
625
141
329
544
0
0
672
0
Total current liabilities
5,092
6,261
4,762
6,637
5,078
7,422
8,651
7,435
9,631
8,063
Lease liabilities
1,576
1,501
1,399
1,296
1,257
1,209
2,733
Total liabilities
32,381
42,214
39,585
43,130
42,896
39,720
37,967
36,123
45,891
47,464
Total debt
16,805
22,458
20,623
20,982
21,453
14,694
11,445
10,799
18,819
16,617
Retained earnings
21,526
22,612
22,529
25,424
22,766
26,778
27,672
28,948
28,103
32,726
Total equity
26,267
31,653
31,974
34,991
32,380
36,945
38,175
39,832
39,468
44,366
Total liabilities and equity
58,648
73,867
71,559
78,121
75,276
76,665
76,142
75,955
85,359
91,830
Cash flow statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-204
2,397
2,591
5,416
-435
7,664
10,937
8,233
6,106
10,820
Depreciation and amortization
4,858
5,186
5,161
5,546
6,046
5,724
7,353
6,413
6,681
9,384
Cash from operations
3,452
7,262
10,121
8,829
4,714
14,478
19,391
12,353
13,386
15,106
Capital expenditures
-4,152
-4,574
-4,175
Cash from investing
-3,811
-13,102
-4,814
-7,255
-2,819
-3,703
-4,987
-4,858
-14,095
-6,687
Debt repaid
0
0
-397
-183
0
0
Share buybacks
0
0
-1,282
-941
-271
-1,581
-5,571
-3,318
-2,660
-1,449
Dividends paid
-758
-1,252
-1,562
-1,743
-1,950
-2,170
-4,926
-3,891
-4,429
-4,871
Cash from financing
307
5,960
-5,343
-1,536
-1,850
-10,215
-14,228
-7,538
-37
-7,877
Net change in cash
-52
120
-36
38
45
560
176
-43
-746
542
Free cash flow
-700
2,688
5,946
Income taxes paid
0
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
34.2%
Pre-tax income / revenue.
Net margin
27.9%
Net income / revenue.
Operating cash flow margin
39.0%
Cash from operations / revenue.
Effective tax rate
18.3%
Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)
12.2%
Net income / average total assets.
D&A / revenue
24.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
8.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-2.9%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
18.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
77.2%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
-0.4%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y
81.1%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y
2.7%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
12.8%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
-8.0%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y
26.2%
Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
7.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
6.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
4.1%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.95x
Current assets / current liabilities.
Quick ratio
0.08x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.08x
(Cash + short-term investments) / current liabilities.
Debt / assets
18.1%
Total debt / total assets.
Liabilities / assets
51.7%
Total liabilities / total assets.
Net debt
CA$15.94B
Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital
-CA$399.0M
Current assets - current liabilities.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.44x
Revenue / average total assets.
Fixed asset turnover
0.51x
Revenue / average property, plant and equipment.
Per share
Metric
Value
How it is calculated
EPS, diluted
CA$5.16
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
CA$5.17
Net income per basic share, as reported (split-adjusted).
Payout ratio
45.0%
Dividends paid / net income, when net income is positive.
What was CANADIAN NATURAL RESOURCES Ltd's revenue in fiscal 2025?
CANADIAN NATURAL RESOURCES Ltd reported revenue of CA$38.76B for fiscal 2025, 8.7% higher than the year before.
Was CANADIAN NATURAL RESOURCES Ltd profitable in fiscal 2025?
Yes. Net income was CA$10.82B, a net margin of 27.9%.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.