Canadian Natural Resources Limited (CNQ) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 10.84B | 10.71B | 9.52B | 9.68B | 12.71B | 11.06B | 10.4B | 10.62B | 9.42B | 10.68B | 11.76B | 7.89B | 8.63B | 9.69B | 12.57B | 13.81B | 12.13B | 10.19B | 7.71B | 6.53B |
| Revenue Growth % | -14.74% | -3.2% | -8.51% | -8.92% | 34.92% | 3.61% | -11.57% | 34.63% | 9.18% | 10.22% | -6.46% | -42.88% | -28.87% | -4.92% | 63.07% | 111.68% | 83.6% | 95.25% | 64.91% | 121.64% |
| Cost of Goods Sold | 7.36B | 8.57B | 4.91B | 7.37B | 9.15B | 8.21B | 7.4B | 7.85B | 7.15B | 7.59B | 7.74B | 4.54B | 4.5B | 4.91B | 7.88B | 8.67B | 7.36B | 6.38B | 3.28B | 3.25B |
| COGS % of Revenue | 67.91% | 80.01% | 51.61% | 76.13% | 72.02% | 74.16% | 71.15% | 73.94% | 75.91% | 71.09% | 65.82% | 57.55% | 52.12% | 50.68% | 62.68% | 62.76% | 60.64% | 62.65% | 42.51% | 49.89% |
| Gross Profit | 3.48B | 2.14B | 4.61B | 2.31B | 3.56B | 2.86B | 3B | 2.77B | 2.27B | 3.09B | 4.02B | 3.35B | 4.13B | 4.78B | 4.69B | 5.14B | 4.78B | 3.81B | 4.43B | 3.27B |
| Gross Margin % | 32.09% | 19.99% | 48.39% | 23.87% | 27.98% | 25.84% | 28.85% | 26.06% | 24.09% | 28.91% | 34.18% | 42.45% | 47.88% | 49.32% | 37.32% | 37.24% | 39.36% | 37.35% | 57.49% | 50.11% |
| Gross Profit Growth % | -2.22% | -25.11% | 53.45% | -16.58% | 56.7% | -7.39% | -25.35% | -17.35% | -45.06% | -35.4% | -14.32% | -34.88% | -13.47% | 25.56% | 5.84% | 57.28% | 43.87% | 738.33% | 795.56% | 567.14% |
| Operating Expenses | 800.06M | 347M | 215M | 249M | 269M | 269M | 177M | 208M | 517M | 267M | 4.02B | 189M | 172M | 427M | 172M | 110M | 709M | 334M | 144M | 224M |
| OpEx % of Revenue | 7.38% | 3.24% | 2.26% | 2.57% | 2.12% | 2.43% | 1.7% | 1.96% | 5.49% | 2.5% | 34.18% | 2.4% | 1.99% | 4.41% | 1.37% | 0.8% | 5.84% | 3.28% | 1.87% | 3.43% |
| Selling, General & Admin | 800.06M | 243M | 215M | 159M | 178M | 171M | 80M | 111M | 420M | 176M | 406M | 189M | 172M | 427M | 90M | 52M | 650M | 288M | 144M | 224M |
| SG&A % of Revenue | 7.38% | 2.27% | 2.26% | 1.64% | 1.4% | 1.55% | 0.77% | 1.04% | 4.46% | 1.65% | 3.45% | 2.4% | 1.99% | 4.41% | 0.72% | 0.38% | 5.36% | 2.83% | 1.87% | 3.43% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 242 | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 0 | 0 |
| Operating Income | 2.68B | 1.79B | 4.39B | 2.06B | 3.29B | 2.59B | 2.82B | 2.56B | 1.75B | 2.82B | 0 | 3.16B | 3.96B | 4.35B | 4.52B | 5.03B | 4.07B | 3.47B | 4.29B | 3.05B |
| Operating Margin % | 24.71% | 16.75% | 46.13% | 21.29% | 25.87% | 23.41% | 27.15% | 24.1% | 18.61% | 26.41% | - | 40.05% | 45.89% | 44.92% | 35.95% | 36.44% | 33.51% | 34.07% | 55.62% | 46.68% |
| Operating Income Growth % | -18.56% | -30.73% | 55.45% | -19.53% | 87.56% | -8.16% | - | -18.99% | -55.73% | -35.2% | -100% | -37.21% | -2.61% | 25.35% | 5.39% | 65.23% | 31.37% | 1906.94% | 1088.09% | 453.36% |
| EBITDA | 4.66B | 4.33B | 7.7B | 3.83B | 5.16B | 4.49B | 4.42B | 4.21B | 3.29B | 4.88B | 4.87B | 4.65B | 5.47B | 5.7B | 5.97B | 6.4B | 5.53B | 4.99B | 5.78B | 4.48B |
| EBITDA Margin % | 42.98% | 40.45% | 80.87% | 39.53% | 40.58% | 40.59% | 42.52% | 39.63% | 34.88% | 45.71% | 41.41% | 58.91% | 63.38% | 58.82% | 47.51% | 46.31% | 45.6% | 48.98% | 74.93% | 68.66% |
| EBITDA Growth % | -9.69% | -3.54% | 74.04% | -9.12% | 56.97% | -7.99% | -9.22% | -9.44% | -39.93% | -14.35% | -18.46% | -27.33% | -1.12% | 14.19% | 3.39% | 42.77% | 21.26% | 179.14% | 216.6% | 728.1% |
| D&A (Non-Cash Add-back) | 1.98B | 2.54B | 3.31B | 1.76B | 1.87B | 1.9B | 1.6B | 1.65B | 1.53B | 2.06B | 1.54B | 1.49B | 1.51B | 1.35B | 1.45B | 1.36B | 1.47B | 1.52B | 1.49B | 1.43B |
| EBIT | 2.68B | 7.09B | 580M | 3.05B | 3.35B | 1.81B | 2.96B | 2.41B | 1.55B | 3.13B | 3.33B | 1.68B | 2.43B | 1.13B | 3.92B | 4.69B | 4.24B | 3.61B | 2.82B | 1.59B |
| Net Interest Income | -318.82M | -245M | -93M | -238M | -258M | -142M | -154M | -158M | -138M | -117M | -187M | -178M | -154M | -76M | -150M | -160M | -163M | -171M | -178M | -177M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 318.82M | 245M | 93M | 238M | 258M | 223M | 154M | 158M | 138M | 117M | 187M | 178M | 154M | 76M | 150M | 160M | 163M | 171M | 178M | 177M |
| Other Income/Expense | -943.43M | 5.05B | -3.9B | 749M | -191M | -1B | -15M | -304M | -345M | 138M | 3.15B | -1.39B | -1.67B | -2.64B | -755M | -501M | 11M | -62M | -1.48B | -1.05B |
| Pretax Income | 1.73B | 6.85B | 487M | 2.81B | 3.1B | 1.59B | 2.81B | 2.26B | 1.41B | 2.96B | 3.15B | 1.77B | 2.29B | 1.71B | 3.77B | 4.53B | 4.08B | 3.41B | 2.81B | 2B |
| Pretax Margin % | 16% | 63.94% | 5.12% | 29.03% | 24.36% | 14.33% | 27.01% | 21.24% | 14.94% | 27.7% | 26.76% | 22.46% | 26.51% | 17.65% | 29.94% | 32.81% | 33.61% | 33.46% | 36.43% | 30.61% |
| Income Tax | 382.99M | 1.54B | -113M | 350M | 639M | 448M | 543M | 541M | 421M | 331M | 803M | 309M | 489M | 190M | 951M | 1.03B | 976M | 876M | 607M | 446M |
| Effective Tax Rate % | 22.08% | 22.56% | -23.2% | 12.46% | 20.63% | 28.25% | 19.33% | 23.98% | 29.9% | 11.19% | 25.52% | 17.44% | 21.37% | 11.11% | 25.26% | 22.73% | 23.94% | 25.69% | 21.61% | 22.33% |
| Net Income | 1.35B | 5.3B | 600M | 2.46B | 2.46B | 1.14B | 2.27B | 1.72B | 987M | 2.63B | 2.34B | 1.46B | 1.8B | 1.52B | 2.81B | 3.5B | 3.1B | 2.53B | 2.2B | 1.55B |
| Net Margin % | 12.47% | 49.51% | 6.31% | 25.42% | 19.34% | 10.29% | 21.79% | 16.15% | 10.48% | 24.6% | 19.93% | 18.54% | 20.85% | 15.69% | 22.38% | 25.35% | 25.56% | 24.87% | 28.56% | 23.77% |
| Net Income Growth % | -45.02% | 365.99% | -73.52% | 43.38% | 149.04% | -56.68% | -3.33% | 17.22% | -45.14% | 72.83% | -16.7% | -58.22% | -41.99% | -40.02% | 27.79% | 125.79% | 125.2% | 238.32% | 439.71% | 600.32% |
| Net Income (Continuing) | 1.35B | 5.3B | 600M | 2.46B | 2.46B | 1.14B | 2.27B | 1.72B | 987M | 2.63B | 2.34B | 1.46B | 1.8B | 1.52B | 2.81B | 3.5B | 3.1B | 2.53B | 2.2B | 1.55B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.64 | 2.54 | 0.29 | 1.17 | 1.17 | 0.54 | 1.06 | 0.80 | 0.46 | 1.22 | 1.08 | 0.67 | 0.82 | 0.69 | 1.26 | 1.52 | 1.33 | 1.08 | 0.93 | 0.65 |
| EPS Growth % | -45.3% | 370.37% | -72.64% | 46.25% | 154.35% | -55.74% | -1.85% | 19.4% | -43.9% | 76.81% | -14.29% | -55.92% | -38.35% | -36.11% | 35.48% | 133.85% | 129.31% | 237.5% | 447.06% | 600% |
| EPS (Basic) | 0.64 | 2.54 | 0.29 | 1.17 | 1.17 | 0.54 | 1.07 | 0.80 | 0.46 | 1.22 | 1.08 | 0.67 | 0.82 | 0.69 | 1.26 | 1.52 | 1.33 | 1.08 | 0.93 | 0.65 |
| Diluted Shares Outstanding | 2.1B | 2.09B | 2.07B | 2.1B | 2.11B | 2.12B | 2.13B | 2.15B | 2.14B | 2.16B | 2.2B | 2.21B | 2.22B | 2.24B | 2.26B | 2.33B | 2.36B | 2.37B | 2.36B | 2.37B |
| Basic Shares Outstanding | 2.08B | 2.08B | 2.07B | 2.09B | 2.1B | 2.11B | 2.12B | 2.13B | 2.14B | 2.16B | 2.21B | 2.22B | 2.22B | 2.23B | 2.26B | 2.33B | 2.36B | 2.37B | 2.36B | 2.37B |
| Dividend Payout Ratio | 65.11% | 23.1% | 204.67% | 50.14% | 48.17% | 97.54% | 49.34% | 65.6% | 109.02% | 37.3% | 41.98% | 51% | 52.14% | 54.87% | 89.98% | 19.31% | 17.76% | 17.22% | 19.97% | 35.91% |