Canadian Natural Resources Limited
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Total Revenue | 10.7B | 11.1B | 9.7B | 12.7B | 11.1B | 10.4B | -- |
| Operating Revenue | 10.7B | 11.1B | 9.7B | 12.7B | 11.1B | 10.4B | -- |
| Cost Of Revenue | 8.6B | 9.7B | 7.4B | 9.2B | 8.2B | 7.4B | -- |
| Gross Profit | 2.1B | 1.4B | 2.3B | 3.6B | 2.9B | 3.0B | -- |
| Selling General And Administration | 243.0M | 215.0M | 159.0M | 178.0M | 171.0M | 80.0M | -- |
| General And Administrative Expense | 243.0M | 215.0M | 159.0M | 178.0M | 171.0M | 80.0M | -- |
| Other Operating Expenses | 104.0M | 95.0M | 90.0M | 91.0M | 98.0M | 97.0M | -- |
| Operating Expense | 347.0M | 310.0M | 249.0M | 269.0M | 269.0M | 177.0M | -- |
| Operating Income | 1.8B | 1.1B | 2.1B | 3.3B | 2.6B | 2.8B | -- |
| EBIT | 7.1B | 580.0M | 3.0B | 3.4B | 1.7B | 3.0B | -- |
| Interest Expense | 245.0M | 93.0M | 238.0M | 258.0M | 142.0M | 154.0M | -- |
| Interest Expense Non Operating | 245.0M | 93.0M | 238.0M | 258.0M | 142.0M | 154.0M | -- |
| Net Interest Income | -245.0M | -93.0M | -238.0M | -258.0M | -142.0M | -154.0M | -- |
| Other Income Expense | 5.3B | -504.0M | 987.0M | 67.0M | -862.0M | 139.0M | -- |
| Special Income Charges | 5.0B | 0.00 | 80.0M | -- | 0.00 | -- | 0.00 |
| Restructuring And Mergern Acquisition | -5.0B | 0.00 | -80.0M | -- | 0.00 | -- | 0.00 |
| Gain On Sale Of Security | 310.0M | -504.0M | 907.0M | 67.0M | -862.0M | 139.0M | -- |
| Pretax Income | 6.8B | 487.0M | 2.8B | 3.1B | 1.6B | 2.8B | -- |
| Tax Provision | 1.5B | -113.0M | 350.0M | 639.0M | 448.0M | 543.0M | -- |
| Tax Effect Of Unusual Items | 1.2B | -75.6M | 118.4M | 14.1M | -243.5M | 26.4M | -- |
| Net Income From Continuing And Discontinued Operation | 5.3B | 600.0M | 2.5B | 2.5B | 1.1B | 2.3B | -- |
| Net Income From Continuing Operation Net Minority Interest | 5.3B | 600.0M | 2.5B | 2.5B | 1.1B | 2.3B | -- |
| Net Income Including Noncontrolling Interests | 5.3B | 600.0M | 2.5B | 2.5B | 1.1B | 2.3B | -- |
| Net Income Common Stockholders | 5.3B | 600.0M | 2.5B | 2.5B | 1.1B | 2.3B | -- |
| Net Income | 5.3B | 600.0M | 2.5B | 2.5B | 1.1B | 2.3B | -- |
| EBITDA | 9.6B | 3.8B | 4.8B | 5.2B | 3.6B | 4.6B | -- |
| Normalized EBITDA | 4.3B | 4.3B | 3.8B | 5.2B | 4.5B | 4.4B | -- |
| Reconciled Depreciation | 2.5B | 3.2B | 1.8B | 1.9B | 1.9B | 1.6B | -- |
| Basic EPS | 2.55 | -- | 1.17 | 1.17 | 0.54 | 1.07 | 0.80 |
| Diluted EPS | 2.54 | -- | 1.17 | 1.17 | 0.54 | 1.06 | 0.80 |
| Basic Average Shares | 2.1B | -- | 2.1B | 2.1B | 2.1B | 2.1B | 2.1B |
| Diluted Average Shares | 2.1B | -- | 2.1B | 2.1B | 2.1B | 2.1B | 2.1B |
| Total Unusual Items | 5.3B | -504.0M | 987.0M | 67.0M | -862.0M | 139.0M | -- |
| Total Unusual Items Excluding Goodwill | 5.3B | -504.0M | 987.0M | 67.0M | -862.0M | 139.0M | -- |
| Tax Rate For Calcs | 0.23 | 0.15 | 0.12 | 0.21 | 0.28 | 0.19 | -- |
| Normalized Income | 1.2B | 1.0B | 1.6B | 2.4B | 1.8B | 2.2B | -- |
| Diluted NI Availto Com Stockholders | 5.3B | 600.0M | 2.5B | 2.5B | 1.1B | 2.3B | -- |
| Net Income Continuous Operations | 5.3B | 600.0M | 2.5B | 2.5B | 1.1B | 2.3B | -- |
| Net Non Operating Interest Income Expense | -245.0M | -93.0M | -238.0M | -258.0M | -142.0M | -154.0M | -- |
| Other Gand A | 160.0M | 152.0M | 151.0M | 152.0M | 127.0M | 126.0M | -- |
| Reconciled Cost Of Revenue | 8.6B | 9.7B | 7.4B | 9.2B | 8.2B | 7.4B | -- |
| Salaries And Wages | 83.0M | 63.0M | 8.0M | 26.0M | 44.0M | -46.0M | -- |
| Total Expenses | 8.9B | 10.0B | 7.6B | 9.4B | 8.5B | 7.6B | -- |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Cash And Cash Equivalents | 673.0M | 113.0M | 102.0M | 93.0M | 131.0M | 721.0M | -- |
| Cash Cash Equivalents And Short Term Investments | 673.0M | 113.0M | 102.0M | 93.0M | 131.0M | 721.0M | -- |
| Other Short Term Investments | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Accounts Receivable | 4.0B | 3.7B | 3.9B | 3.9B | 4.1B | 3.1B | -- |
| Receivables | 4.0B | 3.7B | 3.9B | 3.9B | 4.1B | 3.1B | -- |
| Inventory | 2.6B | 2.8B | 2.7B | 2.7B | 2.8B | 2.5B | -- |
| Other Current Assets | 371.0M | 554.0M | 578.0M | 589.0M | 355.0M | 423.0M | -- |
| Current Assets | 7.7B | 7.2B | 7.2B | 7.2B | 7.4B | 6.8B | -- |
| Gross PPE | 174.9B | 171.3B | 168.2B | 167.1B | 166.1B | 154.0B | -- |
| Accumulated Depreciation | -91.6B | -93.8B | -90.9B | -90.3B | -88.8B | -86.3B | -- |
| Net PPE | 83.3B | 77.5B | 77.3B | 76.8B | 77.3B | 67.7B | -- |
| Other Non Current Assets | 869.0M | 948.0M | 724.0M | 745.0M | 620.0M | 583.0M | -- |
| Total Non Current Assets | 84.2B | 78.4B | 78.0B | 77.6B | 78.0B | 68.3B | -- |
| Total Assets | 91.8B | 85.6B | 85.3B | 84.8B | 85.4B | 75.1B | -- |
| Current Debt | 441.0M | 829.0M | 1.4B | 1.4B | 2.4B | 1.6B | -- |
| Current Debt And Capital Lease Obligation | 441.0M | 829.0M | 1.4B | 1.4B | 2.4B | 1.6B | -- |
| Accounts Payable | 1.1B | 1.3B | 1.2B | 1.2B | 1.1B | 1.2B | -- |
| Payables | 1.7B | 1.9B | 1.6B | 1.3B | 1.2B | 1.3B | -- |
| Payables And Accrued Expenses | 6.0B | 6.0B | 5.8B | 5.7B | 5.7B | 5.0B | -- |
| Current Accrued Expenses | 4.3B | 4.2B | 4.2B | 4.4B | 4.5B | 3.7B | -- |
| Other Current Liabilities | 1.7B | 1.5B | 1.4B | 1.5B | 1.5B | 1.4B | -- |
| Current Liabilities | 8.1B | 8.3B | 8.5B | 8.6B | 9.6B | 8.0B | -- |
| Long Term Debt | 16.2B | 16.4B | 15.7B | 16.0B | 16.4B | 8.4B | -- |
| Long Term Debt And Capital Lease Obligation | 16.2B | 16.4B | 15.7B | 16.0B | 16.4B | 8.4B | -- |
| Other Non Current Liabilities | 11.9B | 10.4B | 9.2B | 9.1B | 9.3B | 8.4B | -- |
| Total Non Current Liabilities Net Minority Interest | 39.4B | 36.8B | 35.5B | 35.7B | 36.3B | 27.2B | -- |
| Total Liabilities Net Minority Interest | 47.5B | 45.1B | 44.0B | 44.4B | 45.9B | 35.2B | -- |
| Common Stock | 11.4B | 11.3B | 11.3B | 11.3B | 11.1B | 11.1B | -- |
| Capital Stock | 11.4B | 11.3B | 11.3B | 11.3B | 11.1B | 11.1B | -- |
| Retained Earnings | 32.7B | 28.9B | 29.8B | 28.9B | 28.1B | 28.6B | -- |
| Gains Losses Not Affecting Retained Earnings | 219.0M | 235.0M | 205.0M | 297.0M | 301.0M | 200.0M | -- |
| Other Equity Adjustments | 219.0M | 235.0M | 205.0M | 297.0M | 301.0M | 200.0M | -- |
| Common Stock Equity | 44.4B | 40.5B | 41.3B | 40.4B | 39.5B | 39.9B | -- |
| Stockholders Equity | 44.4B | 40.5B | 41.3B | 40.4B | 39.5B | 39.9B | -- |
| Total Equity Gross Minority Interest | 44.4B | 40.5B | 41.3B | 40.4B | 39.5B | 39.9B | -- |
| Total Capitalization | 60.5B | 56.9B | 57.0B | 56.4B | 55.9B | 48.3B | -- |
| Net Tangible Assets | 44.4B | 40.5B | 41.3B | 40.4B | 39.5B | 39.9B | -- |
| Tangible Book Value | 44.4B | 40.5B | 41.3B | 40.4B | 39.5B | 39.9B | -- |
| Working Capital | -399.0M | -1.1B | -1.3B | -1.4B | -2.2B | -1.3B | -- |
| Invested Capital | 61.0B | 57.7B | 58.4B | 57.9B | 58.3B | 49.9B | -- |
| Total Debt | 16.6B | 17.3B | 17.1B | 17.4B | 18.8B | 10.0B | -- |
| Net Debt | 15.9B | 17.2B | 17.0B | 17.3B | 18.7B | 9.3B | -- |
| Share Issued | 2.1B | 2.1B | 2.1B | 2.1B | 2.1B | 2.1B | -- |
| Ordinary Shares Number | 2.1B | 2.1B | 2.1B | 2.1B | 2.1B | 2.1B | -- |
| Buildings And Improvements | 699.0M | 666.0M | 648.0M | 623.0M | 607.0M | 594.0M | -- |
| Commercial Paper | 0.00 | 829.0M | 553.0M | 566.0M | 672.0M | -- | -- |
| Finished Goods | -- | -- | -- | -- | 986.0M | -- | -- |
| Income Tax Payable | 597.0M | 540.0M | 430.0M | 127.0M | 92.0M | 103.0M | -- |
| Machinery Furniture Equipment | -- | -- | -- | -- | -- | 775.0M | 798.0M |
| Non Current Deferred Liabilities | 11.3B | 10.0B | 10.5B | 10.7B | 10.5B | 10.4B | -- |
| Non Current Deferred Taxes Liabilities | 11.3B | 10.0B | 10.5B | 10.7B | 10.5B | 10.4B | -- |
| Other Current Borrowings | 441.0M | -- | 817.0M | 863.0M | 1.7B | 1.6B | 820.0M |
| Other Properties | 3.0B | 1.4B | 1.3B | 1.3B | 1.4B | 1.4B | -- |
| Raw Materials | -- | -- | -- | -- | 1.8B | -- | -- |
| Total Tax Payable | 597.0M | 540.0M | 430.0M | 127.0M | 92.0M | 103.0M | -- |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 3.8B | 3.9B | 3.1B | 4.3B | 3.4B | 3.0B | -- |
| Cash Flow From Continuing Operating Activities | 3.8B | 3.9B | 3.1B | 4.3B | 3.4B | 3.0B | -- |
| Depreciation Amortization Depletion | 2.5B | 3.2B | 1.8B | 1.9B | 1.9B | 1.6B | -- |
| Stock Based Compensation | 83.0M | 63.0M | 8.0M | 26.0M | 44.0M | -46.0M | -- |
| Deferred Tax | 1.0B | -532.0M | -88.0M | 128.0M | 227.0M | 154.0M | -- |
| Deferred Income Tax | 1.0B | -532.0M | -88.0M | 128.0M | 227.0M | 154.0M | -- |
| Change In Working Capital | 134.0M | 432.0M | 24.0M | 82.0M | -563.0M | -680.0M | -- |
| Other Non Cash Items | -5.0B | -317.0M | -162.0M | -237.0M | -93.0M | -142.0M | -- |
| Capital Expenditure | -1.5B | -2.1B | -1.9B | -1.3B | -1.3B | -1.3B | -- |
| Purchase Of PPE | -- | -- | -- | -- | -19.0M | -8.0M | -- |
| Net PPE Purchase And Sale | 5.0M | -- | -- | -- | -19.0M | -8.0M | -- |
| Purchase Of Business | 0.00 | -- | -- | -- | -9.2B | -- | -- |
| Sale Of Investment | 0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 | 575.0M |
| Net Investment Purchase And Sale | 0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 | 575.0M |
| Investing Cash Flow | -1.2B | -2.2B | -1.9B | -1.3B | -10.4B | -1.3B | -- |
| Cash Flow From Continuing Investing Activities | -1.2B | -2.2B | -1.9B | -1.3B | -10.4B | -1.3B | -- |
| Issuance Of Debt | 1.6B | -- | 471.0M | -- | 2.6B | -- | 0.00 |
| Repayment Of Debt | -108.0M | -910.0M | -82.0M | -1.5B | -84.0M | -84.0M | -- |
| Net Issuance Payments Of Debt | -561.0M | -198.0M | 389.0M | -1.5B | 8.0B | -84.0M | -- |
| Repurchase Of Capital Stock | -294.0M | -309.0M | -359.0M | -487.0M | -551.0M | -741.0M | -- |
| Net Common Stock Issuance | -294.0M | -309.0M | -359.0M | -487.0M | -551.0M | -741.0M | -- |
| Common Stock Dividend Paid | -1.2B | -1.2B | -1.2B | -1.2B | -1.1B | -1.1B | -- |
| Common Stock Payments | -294.0M | -309.0M | -359.0M | -487.0M | -551.0M | -741.0M | -- |
| Financing Cash Flow | -2.0B | -1.7B | -1.2B | -3.0B | 6.4B | -1.9B | -- |
| Cash Flow From Continuing Financing Activities | -2.0B | -1.7B | -1.2B | -3.0B | 6.4B | -1.9B | -- |
| Changes In Cash | 560.0M | 11.0M | 9.0M | -38.0M | -590.0M | -194.0M | -- |
| Beginning Cash Position | 113.0M | 102.0M | 93.0M | 131.0M | 721.0M | 915.0M | -- |
| End Cash Position | 673.0M | 113.0M | 102.0M | 93.0M | 131.0M | 721.0M | -- |
| Free Cash Flow | 2.3B | 1.9B | 1.2B | 3.0B | 2.1B | 1.7B | -- |
| Income Tax Paid Supplemental Data | 525.0M | 283.0M | 229.0M | 685.0M | 187.0M | 322.0M | -- |
| Interest Paid Supplemental Data | 238.0M | 246.0M | 237.0M | 257.0M | 105.0M | 174.0M | -- |
| Capital Expenditure Reported | -1.5B | -2.1B | -1.9B | -1.3B | -1.3B | -1.3B | -- |
| Cash Dividends Paid | -1.2B | -1.2B | -1.2B | -1.2B | -1.1B | -1.1B | -- |
| Gain Loss On Investment Securities | -77.0M | 160.0M | -15.0M | 3.0M | -4.0M | -- | 25.0M |
| Long Term Debt Issuance | 1.6B | -- | 471.0M | -- | 2.6B | -- | 0.00 |
| Long Term Debt Payments | -108.0M | -910.0M | -82.0M | -1.5B | -84.0M | -84.0M | -- |
| Net Business Purchase And Sale | 0.00 | -- | -- | -- | -9.2B | -- | -- |
| Net Foreign Currency Exchange Gain Loss | -216.0M | 323.0M | -877.0M | -46.0M | 782.0M | -148.0M | -- |
| Net Income From Continuing Operations | 5.3B | 600.0M | 2.5B | 2.5B | 1.1B | 2.3B | -- |
| Net Long Term Debt Issuance | 1.5B | -910.0M | 389.0M | -1.5B | 2.6B | -84.0M | -- |
| Net Other Investing Changes | 249.0M | -173.0M | -26.0M | -15.0M | 49.0M | 67.0M | -- |
| Net Short Term Debt Issuance | -2.1B | 712.0M | -- | -- | 5.5B | -- | -- |
| Operating Gains Losses | -293.0M | 483.0M | -892.0M | -43.0M | 778.0M | -148.0M | -- |
| Proceeds From Stock Option Exercised | 73.0M | 40.0M | 39.0M | 112.0M | 32.0M | 21.0M | -- |
| Sale Of PPE | 5.0M | -- | -- | -- | -- | -- | -- |