Balance Sheet Canadian Natural Resources Limited

Equities

CNQ

CA1363851017

Oil & Gas Exploration and Production

Market Closed - Toronto S.E. Other stock markets 16:00:00 2026-03-11 EDT			5-day change	1st Jan Change
64.18 ^CAD	+3.33%		+6.54%	+38.05%

03-06	Canada, Alberta Strike Tentative Deal to Scale Back Project Assessments	DJ
03-06	RBC Lifts Canadian Natural Resources' Price Target to C$65 from C$61	MT

1695588147b07d50d20ce7065.GBZyMBV1kBYVLOINzJ7GK4O7fO7Xyl0iAn5q6Xq3j_E.Ui8UVCY70lxnGKY-ovaOc-DOLr76uQtGbzw63C7fu8FtRRVUR1jDI1R22g

Published financial data: CANADIAN NATURAL RESOURCES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	16.89B	30.06B	42.3B	35.97B	35.66B
Total Revenues	16.89B	30.06B	42.3B	35.97B	35.66B
Cost of Goods Sold, Total	10.78B	13.76B	18.68B	17.78B	18.08B
Gross Profit	6.12B	16.3B	23.61B	18.19B	17.58B
Selling General & Admin Expenses, Total	391M	366M	415M	452M	503M
Stock-Based Compensation (IS)	-82M	514M	804M	491M	279M
Depreciation & Amortization - (IS)	6.05B	5.72B	7.35B	6.41B	6.68B
Impairment of Oil, Gas & Mineral Properties - (IS)	-	-	-	-	-
Other Operating Expenses	185M	214M	299M	390M	396M
Other Operating Expenses, Total	6.54B	6.82B	8.87B	7.75B	7.86B
Operating Income	-425M	9.48B	14.74B	10.44B	9.72B
Interest Expense, Total	-828M	-743M	-670M	-691M	-673M
Interest And Investment Income	72M	32M	121M	55M	81M
Net Interest Expenses	-756M	-711M	-549M	-636M	-592M
Income (Loss) On Equity Invest.	-	400M	-	-	-
Currency Exchange Gains (Loss)	262M	120M	-685M	305M	-1.12B
EBT, Excl. Unusual Items	-919M	9.29B	13.51B	10.11B	8B
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-171M	141M	196M	56M	56M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	217M	478M	-	-	-
EBT, Incl. Unusual Items	-873M	9.91B	13.7B	10.16B	8.06B
Income Tax Expense	-438M	2.25B	2.77B	1.93B	1.95B
Earnings From Continuing Operations	-435M	7.66B	10.94B	8.23B	6.11B
Net Income to Company	-435M	7.66B	10.94B	8.23B	6.11B
Net Income - (IS)	-435M	7.66B	10.94B	8.23B	6.11B
Net Income to Common Incl Extra Items	-435M	7.66B	10.94B	8.23B	6.11B
Net Income to Common Excl. Extra Items	-435M	7.66B	10.94B	8.23B	6.11B
Per Share Items
Net EPS - Basic	-0.18	3.24	4.82	3.77	2.87
Basic EPS - Continuing Operations	-0.18	3.24	4.82	3.77	2.87
Basic Weighted Average Shares Outstanding	2.36B	2.36B	2.27B	2.18B	2.13B
Net EPS - Diluted	-0.18	3.23	4.76	3.74	2.85
Diluted EPS - Continuing Operations	-0.18	3.23	4.76	3.74	2.85
Diluted Weighted Average Shares Outstanding	2.36B	2.37B	2.3B	2.2B	2.14B
Normalized Basic EPS	-0.24	2.46	3.72	2.89	2.35
Normalized Diluted EPS	-0.24	2.45	3.67	2.87	2.34
Dividend Per Share	0.85	1	1.55	1.85	2.14
Payout Ratio	-448.28	28.31	29.46	47.26	72.54
Supplemental Items
EBITDA	5.57B	15.18B	22.38B	16.51B	16.33B
EBITA	-220M	9.67B	15.02B	10.81B	10.11B
EBIT	-425M	9.48B	14.74B	10.44B	9.72B
EBITDAR	6.07B	15.69B	22.84B	16.97B	16.72B
Total Revenues (As Reported)	16.89B	30.06B	42.3B	35.97B	35.66B
Effective Tax Rate - (Ratio)	50.17	22.67	20.19	19.01	24.23
Total Current Taxes	-226M	1.88B	2.95B	1.94B	1.66B
Total Deferred Taxes	-181M	399M	302M	267M	520M
Normalized Net Income	-574M	5.81B	8.44B	6.32B	5B
Interest Capitalized	24M	-	-	-	-
Interest on Long-Term Debt	852M	743M	670M	691M	673M
Supplemental Operating Expense Items
General and Administrative Expenses	391M	366M	415M	452M	503M
Net Rental Expense, Total	494M	515M	459M	462M	396M
Imputed Operating Lease Interest Expense	147M	155M	168M	202M	131M
Imputed Operating Lease Depreciation	347M	360M	291M	260M	265M
Stock-Based Comp., Other (Total)	-82M	514M	804M	491M	279M
Total Stock-Based Compensation	-82M	514M	804M	491M	279M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	184M	744M	920M	877M	131M
Trading Asset Securities, Total	305M	309M	494M	537M	7M
Total Cash And Short Term Investments	489M	1.05B	1.41B	1.41B	138M
Accounts Receivable, Total	2.19B	3.11B	3.56B	3.19B	4.13B
Other Receivables	309M	-	-	-	-
Total Receivables	2.5B	3.11B	3.56B	3.19B	4.13B
Inventory	1.06B	1.55B	1.82B	2.03B	2.79B
Prepaid Expenses	231M	195M	215M	471M	279M
Other Current Assets, Total	82M	35M	58M	59M	69M
Total Current Assets	4.36B	5.94B	7.06B	7.17B	7.4B
Gross Property Plant And Equipment	136B	141B	146B	151B	166B
Accumulated Depreciation	-66.14B	-70.68B	-77.55B	-82.34B	-88.75B
Net Property Plant And Equipment	69.83B	70.16B	68.53B	68.25B	77.33B
Long-term Investments	-	-	6M	1M	-
Other Long-Term Assets, Total	1.08B	565M	547M	540M	620M
Total Assets	75.28B	76.66B	76.14B	75.96B	85.36B
Liabilities
Accounts Payable, Total	667M	803M	1.34B	1.42B	1.08B
Accrued Expenses, Total	2.46B	3.39B	4.77B	4.07B	4.99B
Current Portion of Long-Term Debt	1.34B	1B	404M	980M	2.4B
Current Portion of Leases	189M	185M	244M	298M	255M
Current Income Taxes Payable	-	1.61B	1.32B	-	92M
Other Current Liabilities	414M	434M	570M	667M	817M
Total Current Liabilities	5.08B	7.42B	8.65B	7.44B	9.63B
Long-Term Debt	20.11B	13.69B	11.04B	9.82B	16.42B
Long-Term Leases	1.5B	1.4B	1.3B	1.26B	1.21B
Deferred Tax Liability Non Current	10.14B	10.22B	10.11B	10.18B	10.54B
Other Non Current Liabilities	6.06B	6.98B	6.86B	7.43B	8.09B
Total Liabilities	42.9B	39.72B	37.97B	36.12B	45.89B
Common Stock, Total	9.61B	10.17B	10.29B	10.71B	11.06B
Retained Earnings	22.77B	26.78B	27.67B	28.95B	28.1B
Comprehensive Income and Other	8M	-1M	209M	172M	301M
Total Common Equity	32.38B	36.94B	38.18B	39.83B	39.47B
Total Equity	32.38B	36.94B	38.18B	39.83B	39.47B
Total Liabilities And Equity	75.28B	76.66B	76.14B	75.96B	85.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.37B	2.33B	2.2B	2.14B	2.1B
ECS Total Common Shares Outstanding	2.37B	2.34B	2.21B	2.14B	2.1B
Book Value / Share	13.68	15.81	17.31	18.57	18.77
Tangible Book Value	32.38B	36.94B	38.18B	39.83B	39.47B
Tangible Book Value Per Share	13.68	15.81	17.31	18.57	18.77
Total Debt	23.14B	16.28B	12.98B	12.35B	20.28B
Net Debt	22.65B	15.22B	11.57B	10.94B	20.14B
Debt Equivalent Oper. Leases	3.95B	4.12B	3.67B	3.7B	3.17B
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	670M	1.01B	1.2B	1.49B	1.81B
Inventories - Finished Goods, Total	390M	535M	611M	546M	986M
Buildings, Total	485M	508M	536M	566M	607M
Full Time Employees	-	9.74K	10.04K	10.27K	10.64K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-435M	7.66B	10.94B	8.23B	6.11B
Depreciation & Amortization - CF	6.05B	5.72B	7.35B	5.98B	6.46B
Amortization of Goodwill and Intangible Assets - (CF)	205M	185M	281M	366M	389M
Impairment of Oil, Gas & Mineral Properties - (CF)	-	-	-	-	62M
Depreciation & Amortization, Total	6.25B	5.91B	7.63B	6.34B	6.91B
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	185M	-132M	-182M	-34M	-50M
Asset Writedown & Restructuring Costs	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	-82M	514M	804M	491M	279M
Other Operating Activities, Total	-1.04B	-441M	119M	-263M	884M
Change in Other Net Operating Assets	-166M	964M	79M	-2.42B	-743M
Cash from Operations	4.71B	14.48B	19.39B	12.35B	13.39B
Capital Expenditure	-2.56B	-4.49B	-5.14B	-4.91B	-5.38B
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-	-	-	-9.16B
Investment in Marketable and Equity Securities, Total	-	128M	-	-	575M
Other Investing Activities, Total	-259M	662M	149M	51M	-124M
Cash from Investing	-2.82B	-3.7B	-4.99B	-4.86B	-14.1B
Long-Term Debt Issued, Total	1.82B	-	-	-	8.1B
Total Debt Issued	1.82B	-	-	-	8.1B
Long-Term Debt Repaid, Total	-1.72B	-7.17B	-4.24B	-701M	-1.33B
Total Debt Repaid	-1.72B	-7.17B	-4.24B	-701M	-1.33B
Issuance of Common Stock	108M	707M	442M	372M	280M
Repurchase of Common Stock	-271M	-1.58B	-5.57B	-3.32B	-2.66B
Common Dividends Paid	-1.95B	-2.17B	-3.22B	-3.89B	-4.43B
Common & Preferred Stock Dividends Paid	-1.95B	-2.17B	-3.22B	-3.89B	-4.43B
Special Dividend Paid	-	-	-1.7B	-	-
Other Financing Activities, Total	166M	-	69M	-	-
Cash from Financing	-1.85B	-10.22B	-14.23B	-7.54B	-37M
Net Change in Cash	45M	560M	176M	-43M	-746M
Supplemental Items
Cash Interest Paid	-	-	-	-	586M
Cash Income Tax Paid (Refund)	-29M	-62M	3.06B	3.32B	1.14B
Levered Free Cash Flow	2.34B	9.07B	13.11B	6.06B	6.77B
Unlevered Free Cash Flow	2.86B	9.53B	13.53B	6.49B	7.19B
Change In Net Working Capital	481M	-1.67B	-1.01B	1.96B	695M
Net Debt Issued / Repaid	97M	-7.17B	-4.24B	-701M	6.77B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-0.35	7.8	12.06	8.58	7.53
Return on Total Capital	-0.47	10.9	17.65	12.63	10.85
Return On Equity %	-1.29	22.11	29.12	21.11	15.4
Return on Common Equity	-1.29	22.11	29.12	21.11	15.4
Margin Analysis
Gross Profit Margin %	36.2	54.23	55.83	50.56	49.3
SG&A Margin	2.31	1.22	0.98	1.26	1.41
EBITDA Margin %	32.98	50.49	52.9	45.9	45.79
EBITA Margin %	-1.3	32.17	35.52	30.04	28.35
EBIT Margin %	-2.52	31.55	34.85	29.03	27.26
Income From Continuing Operations Margin %	-2.58	25.5	25.86	22.89	17.12
Net Income Margin %	-2.58	25.5	25.86	22.89	17.12
Net Avail. For Common Margin %	-2.58	25.5	25.86	22.89	17.12
Normalized Net Income Margin	-3.4	19.32	19.96	17.57	14.03
Levered Free Cash Flow Margin	13.88	30.16	30.99	16.85	18.97
Unlevered Free Cash Flow Margin	16.94	31.71	31.98	18.05	20.15
Asset Turnover
Asset Turnover	0.22	0.4	0.55	0.47	0.44
Fixed Assets Turnover	0.24	0.43	0.61	0.53	0.49
Receivables Turnover (Average Receivables)	7.26	11.34	12.69	10.67	9.75
Inventory Turnover (Average Inventory)	9.75	10.55	11.11	9.24	7.49
Short Term Liquidity
Current Ratio	0.86	0.8	0.82	0.96	0.77
Quick Ratio	0.59	0.56	0.57	0.62	0.44
Operating Cash Flow to Current Liabilities	0.93	1.95	2.24	1.66	1.39
Days Sales Outstanding (Average Receivables)	50.43	32.19	28.76	34.22	37.54
Days Outstanding Inventory (Average Inventory)	37.56	34.6	32.85	39.5	48.87
Average Days Payable Outstanding	25.4	18.83	20.65	27.97	24.26
Cash Conversion Cycle (Average Days)	62.59	47.95	40.96	45.75	62.15
Long Term Solvency
Total Debt/Equity	71.47	44.06	34.01	31.02	51.39
Total Debt / Total Capital	41.68	30.58	25.38	23.67	33.95
LT Debt/Equity	66.74	40.85	32.32	27.81	44.66
Long-Term Debt / Total Capital	38.92	28.36	24.11	21.22	29.5
Total Liabilities / Total Assets	56.98	51.81	49.86	47.56	53.76
EBIT / Interest Expense	-0.51	12.76	22	15.11	14.44
EBITDA / Interest Expense	7.04	20.72	33.4	24.29	24.71
(EBITDA - Capex) / Interest Expense	3.94	14.67	25.73	17.18	16.71
Total Debt / EBITDA	3.97	1.06	0.58	0.74	1.22
Net Debt / EBITDA	3.89	0.99	0.52	0.65	1.21
Total Debt / (EBITDA - Capex)	7.09	1.49	0.75	1.04	1.8
Net Debt / (EBITDA - Capex)	6.94	1.4	0.67	0.92	1.79
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-26.14	77.93	40.73	-14.97	-0.87
Gross Profit, 1 Yr. Growth %	-48.59	166.57	44.86	-22.98	-3.34
EBITDA, 1 Yr. Growth %	-49.44	172.36	45.37	-19.51	-1.1
EBITA, 1 Yr. Growth %	-103.84	-4.49K	55.39	-28.07	-6.45
EBIT, 1 Yr. Growth %	-107.67	-2.33K	55.46	-29.18	-6.9
Earnings From Cont. Operations, 1 Yr. Growth %	-108.03	-1.86K	42.71	-24.72	-25.84
Net Income, 1 Yr. Growth %	-108.03	-1.86K	42.71	-24.72	-25.84
Normalized Net Income, 1 Yr. Growth %	-117.51	-1.11K	45.37	-25.16	-20.83
Diluted EPS Before Extra, 1 Yr. Growth %	-108.15	-1.85K	47.37	-21.53	-23.8
Accounts Receivable, 1 Yr. Growth %	-11.16	42.05	14.27	-10.3	29.38
Inventory, 1 Yr. Growth %	-7.99	46.04	17.25	12.07	37.32
Net Property, Plant and Equip., 1 Yr. Growth %	-3.56	0.47	-2.32	-0.42	13.31
Total Assets, 1 Yr. Growth %	-3.64	1.85	-0.68	-0.25	12.38
Tangible Book Value, 1 Yr. Growth %	-7.46	14.1	3.33	4.34	-0.91
Common Equity, 1 Yr. Growth %	-7.46	14.1	3.33	4.34	-0.91
Cash From Operations, 1 Yr. Growth %	-46.61	207.13	33.93	-36.3	8.36
Capital Expenditures, 1 Yr. Growth %	-29.05	75.51	14.31	-4.42	9.66
Levered Free Cash Flow, 1 Yr. Growth %	-43.83	286.65	44.59	-47.24	11.6
Unlevered Free Cash Flow, 1 Yr. Growth %	-39.67	232.97	41.94	-45.46	10.66
Dividend Per Share, 1 Yr. Growth %	13.33	17.51	55.19	19.35	15.54
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-10.37	14.64	58.24	9.39	-8.19
Gross Profit, 2 Yr. CAGR %	-23.22	17.06	96.51	5.62	-13.72
EBITDA, 2 Yr. CAGR %	-26.11	16	96.2	3.57	-11.42
EBITA, 2 Yr. CAGR %	-79.12	29.86	702.97	5.72	-18.11
EBIT, 2 Yr. CAGR %	-70.42	30.8	480.15	4.92	-18.95
Earnings From Cont. Operations, 2 Yr. CAGR %	-59.03	18.96	401.42	3.65	-25.28
Net Income, 2 Yr. CAGR %	-59.03	18.96	401.42	3.65	-25.28
Normalized Net Income, 2 Yr. CAGR %	-48.13	33.05	283.39	4.3	-23.03
Diluted EPS Before Extra, 2 Yr. CAGR %	-58.22	19.29	407.24	7.53	-22.62
Accounts Receivable, 2 Yr. CAGR %	38.12	12.34	27.41	1.25	7.73
Inventory, 2 Yr. CAGR %	5.35	15.92	30.85	14.63	24.05
Net Property, Plant and Equip., 2 Yr. CAGR %	1.94	-1.57	-0.94	-1.37	6.23
Total Assets, 2 Yr. CAGR %	2.56	-0.94	0.57	-0.46	5.88
Tangible Book Value, 2 Yr. CAGR %	0.63	2.75	8.58	3.83	1.68
Common Equity, 2 Yr. CAGR %	0.63	2.75	8.58	3.83	1.68
Cash From Operations, 2 Yr. CAGR %	-31.75	28.06	102.82	-7.63	-16.91
Capital Expenditures, 2 Yr. CAGR %	-24.08	11.59	41.64	4.53	2.38
Levered Free Cash Flow, 2 Yr. CAGR %	-23.5	47.38	136.85	-18.23	-23.37
Unlevered Free Cash Flow, 2 Yr. CAGR %	-20.29	41.73	117.7	-17.46	-22.42
Dividend Per Share, 2 Yr. CAGR %	12.63	15.4	35.04	36.1	17.43
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-0.87	12.65	22.75	28.65	5.86
Gross Profit, 3 Yr. CAGR %	-9.09	16.26	25.68	43.81	2.55
EBITDA, 3 Yr. CAGR %	-10.34	14.14	25.65	41.62	1.99
EBITA, 3 Yr. CAGR %	-55.78	24.22	37.87	259.28	1.5
EBIT, 3 Yr. CAGR %	-43.69	24.98	38.55	187.79	0.83
Earnings From Cont. Operations, 3 Yr. CAGR %	-43.38	43.55	26.4	166.5	-7.3
Net Income, 3 Yr. CAGR %	-43.38	43.55	26.4	166.5	-7.3
Normalized Net Income, 3 Yr. CAGR %	-27.94	39.59	37.04	122.4	-4.86
Diluted EPS Before Extra, 3 Yr. CAGR %	-43.3	44.98	28	172.3	-4.09
Accounts Receivable, 3 Yr. CAGR %	-2.97	39.42	12.98	13.35	9.87
Inventory, 3 Yr. CAGR %	5.84	17.47	16.36	24.26	21.74
Net Property, Plant and Equip., 3 Yr. CAGR %	0.99	1.45	-1.82	-0.76	3.3
Total Assets, 3 Yr. CAGR %	0.63	2.32	-0.85	0.3	3.65
Tangible Book Value, 3 Yr. CAGR %	0.76	4.93	2.95	7.15	2.23
Common Equity, 3 Yr. CAGR %	0.76	4.93	2.95	7.15	2.23
Cash From Operations, 3 Yr. CAGR %	-13.41	12.68	29.99	37.87	-2.58
Capital Expenditures, 3 Yr. CAGR %	-18.32	0.39	12.49	24.24	6.21
Levered Free Cash Flow, 3 Yr. CAGR %	-1.6	31.29	46.44	37.41	-9.3
Unlevered Free Cash Flow, 3 Yr. CAGR %	-0.62	28.37	41.8	31.52	-8.98
Dividend Per Share, 3 Yr. CAGR %	15.62	14.24	27.38	29.59	28.87
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	6.44	21.34	19.52	11.33	9.29
Gross Profit, 5 Yr. CAGR %	3.07	29.82	23.74	11.88	8.12
EBITDA, 5 Yr. CAGR %	1.71	32.51	23.69	10.1	7.68
EBITA, 5 Yr. CAGR %	-9.58	53.27	42.64	16.46	12.01
EBIT, 5 Yr. CAGR %	-4.57	49.14	44.01	16.53	11.89
Earnings From Cont. Operations, 5 Yr. CAGR %	-7.34	106.52	35.47	26.01	2.43
Net Income, 5 Yr. CAGR %	-7.34	106.52	35.47	26.01	2.43
Normalized Net Income, 5 Yr. CAGR %	-7.49	41.47	40.63	24.23	8.8
Diluted EPS Before Extra, 5 Yr. CAGR %	-8.67	102.44	36.22	28.65	4.66
Accounts Receivable, 5 Yr. CAGR %	11.39	16.75	8.2	22.67	10.85
Inventory, 5 Yr. CAGR %	15.09	17.57	15.21	16.32	19.38
Net Property, Plant and Equip., 5 Yr. CAGR %	5.25	5.65	0.21	0.31	1.32
Total Assets, 5 Yr. CAGR %	4.9	5.5	0.61	1.2	1.79
Tangible Book Value, 5 Yr. CAGR %	3.41	7.06	3.82	4.49	2.44
Common Equity, 5 Yr. CAGR %	3.41	7.06	3.82	4.49	2.44
Cash From Operations, 5 Yr. CAGR %	-3.5	33.21	21.71	4.07	8.68
Capital Expenditures, 5 Yr. CAGR %	-12.94	1.59	1.8	2.02	8.33
Levered Free Cash Flow, 5 Yr. CAGR %	20.42	125.79	39.72	8.64	10.14
Unlevered Free Cash Flow, 5 Yr. CAGR %	32.85	86.37	35.92	7.59	8.66
Dividend Per Share, 5 Yr. CAGR %	13.07	16.27	23.03	22.52	23.3