Also trades as: CNQ.TO (TSX) · $vol 773M
CNQ NYSE
Canadian Natural Resources Limited
1W: +1.8%
1M: +16.2%
3M: +25.8%
YTD: +65.2%
1Y: +83.9%
3Y: +90.6%
5Y: +233.0%
$54.07
-1.04 (-1.89%)
After Hours: $54.66 (+0.59, +1.10%)
Weekly Expected Move ±3.2%
$52
$53
$55
$57
$59
Credit Risk of going bust: lower than 81% of companies Debt: 9.7% of company value Bonds: $286.1M held by 294 funds, 84 bp over Treasuries → details ▾
If the stock fell to about $0.45 (down 99.2%), Canadian Natural Resources Limited would be worth roughly what it owes.
Total debt $12.24B against a stock market value of $113.61B.
Distance to default 9.82 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $6.91B (short-term plus half of long-term), stock volatility 30.8%; Altman Z'' 3.26. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
Total debt $12.24B against a stock market value of $113.61B.
Distance to default 9.82 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $6.91B (short-term plus half of long-term), stock volatility 30.8%; Altman Z'' 3.26. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
Overview
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Smart Money
Financials
Income Statement
Cash Flow
Balance Sheet
Earnings
Analysis
Technicals
Weather
Peers
ESG
Institutions
ETF Exposure
Dark Pool
Short Interest
Cash Flow Trends
Operating Cash Flow
$15.1B
+12.8% ▲
5Y CAGR: +26.2%
Capital Expenditures
$6.7B
-26.1% ▼
5Y CAGR: +21.1%
Free Cash Flow
$8.4B
+4.1% ▲
5Y CAGR: +31.4%
Dividends Paid
$4.9B
-9.9% ▼
Buybacks
$1.4B
+45.6% ▲
Net Change in Cash
$548M
+173.4% ▲
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $6.1B | $10.9B | $8.2B | $6.1B | $10.8B |
| Depreciation & Amort. | $4.7B | $7.4B | $6.8B | $6.9B | $9.8B |
| Stock-Based Comp. | $0 | $804M | $491M | $279M | $0 |
| Change in Working Capital | $762M | $79M | -$2.4B | -$743M | $671M |
| Other Non-Cash Items | -$362M | $357M | -$786M | $412M | -$6.7B |
| Operating Cash Flow | $11.4B | $19.4B | $12.4B | $13.4B | $15.1B |
| — Investing Activities — | |||||
| Capital Expenditures | -$3.6B | -$5.1B | -$4.9B | -$5.4B | -$6.8B |
| Acquisitions (Net) | $0 | $0 | $0 | -$9.2B | $0 |
| Investment Purchases | $0 | $0 | $0 | $0 | $0 |
| Investment Sales | $101M | $0 | $0 | $0 | $0 |
| Other Investing | $523M | $116M | $51M | $451M | $104M |
| Investing Cash Flow | -$2.9B | -$5.0B | -$4.9B | -$14.1B | -$6.7B |
| — Financing Activities — | |||||
| Net Debt Issuance | -$5.5B | -$4.2B | -$701M | $6.8B | -$1.5B |
| Stock Repurchased | -$1.2B | -$5.6B | -$3.3B | -$2.7B | -$1.4B |
| Dividends Paid | -$1.7B | -$4.9B | -$3.9B | -$4.4B | -$4.9B |
| Other Financing | -$165M | $511M | $372M | $280M | -$361M |
| Financing Cash Flow | -$8.1B | -$14.2B | -$7.5B | -$37M | -$7.9B |
| Net Change in Cash | $444M | $176M | -$43M | -$746M | $548M |
| Cash End of Period | $588M | $920M | $877M | $131M | $672M |
| Free Cash Flow | $7.9B | $14.3B | $7.4B | $8.1B | $8.4B |