Canadian Natural Resources Ltd's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Canadian Natural Resources Ltd reported revenue of $38.8B (+8.7% year on year) and net income of $10.8B (+77.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Product sales | $44.2B | $41.5B | $40.8B | $49.5B |
| Less: royalties | ($5.4B) | ($5.9B) | ($4.9B) | ($7.2B) |
| Revenue | $38.8B | $35.7B | $36.0B | $42.3B |
| Production | $9.2B | $8.1B | $8.5B | $8.7B |
| Blending and feedstock | $8.1B | — | — | — |
| Transportation | $2.8B | — | — | — |
| Depletion, depreciation and amortization | $9.4B | $6.7B | $6.4B | $7.4B |
| Administration | $615.0M | $503.0M | $452.0M | $415.0M |
| Share-based compensation | $180.0M | $279.0M | $491.0M | $804.0M |
| Asset retirement obligation accretion | $380.0M | $389.0M | $366.0M | $281.0M |
| Interest and other financing expense | $834.0M | $592.0M | $636.0M | $549.0M |
| Risk management (gain) loss | ($18.0M) | $177.0M | ($2.0M) | ($35.0M) |
| Foreign exchange (gain) loss | ($762.0M) | $955.0M | ($279.0M) | $738.0M |
| Gain on acquisitions, disposition, and remeasurement | $5.1B | — | $0 | $0 |
| Gain from investment | $0 | ($56.0M) | ($56.0M) | ($196.0M) |
| Total expenses | $25.5B | $27.6B | $25.8B | $28.6B |
| Earnings before taxes | $13.2B | $8.1B | $10.2B | $13.7B |
| Current income tax expense | $1.9B | $1.5B | $1.9B | $2.9B |
| Deferred income tax expense | $510.0M | $422.0M | $53.0M | ($139.0M) |
| Net earnings | $10.8B | $6.1B | $8.2B | $10.9B |
| Basic (in CAD per share) | $5.17 | $2.87 | $7.54 | $9.64 |
| Diluted (in CAD per share) | $5.16 | $2.85 | $7.47 | $9.52 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $673.0M | $131.0M | $877.0M | $920.0M |
| Accounts receivable | $4.0B | $4.1B | $3.2B | $3.6B |
| Inventory | $2.6B | $2.8B | $2.0B | $1.8B |
| Prepaids and other | $301.0M | $279.0M | $471.0M | $215.0M |
| Current portion of other long-term assets | $70.0M | $76.0M | $71.0M | $61.0M |
| Current assets | $7.7B | $7.4B | $7.2B | $7.1B |
| Exploration and evaluation assets | $2.7B | $2.5B | $2.2B | $2.2B |
| Property, plant and equipment | $77.6B | $73.4B | $64.6B | $64.9B |
| Lease assets | $3.0B | $1.4B | $1.5B | $1.4B |
| Other long-term assets | $869.0M | $620.0M | $541.0M | $553.0M |
| Assets | $91.8B | $85.4B | $76.0B | $76.1B |
| Accounts payable | $1.1B | $1.1B | $1.4B | $1.3B |
| Accrued liabilities | $4.3B | $4.5B | $3.5B | $4.2B |
| Current income taxes payable | $597.0M | $92.0M | $0 | $1.3B |
| Current portion of long-term debt | $441.0M | $2.4B | $980.0M | $404.0M |
| Current portion of other long-term liabilities | $1.7B | $1.5B | $1.5B | $1.4B |
| Current liabilities | $8.1B | $9.6B | $7.4B | $8.7B |
| Long-term debt | $16.2B | $16.4B | $9.8B | $11.0B |
| Other long-term liabilities | $11.9B | $9.3B | $8.7B | $8.2B |
| Deferred income taxes | $11.3B | $10.5B | $10.2B | $10.1B |
| Liabilities | $47.5B | $45.9B | $36.1B | $38.0B |
| Share capital | $11.4B | $11.1B | $10.7B | $10.3B |
| Retained earnings | $32.7B | $28.1B | $28.9B | $27.7B |
| Accumulated other comprehensive income | $219.0M | $301.0M | $172.0M | $209.0M |
| Shareholders' equity | $44.4B | $39.5B | $39.8B | $38.2B |
| Liabilities and shareholders' equity | $91.8B | $85.4B | $76.0B | $76.1B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net earnings | $10.8B | $6.1B | $8.2B | $10.9B |
| Depletion, depreciation and amortization | $9.4B | $6.7B | $6.4B | $7.4B |
| Share-based compensation | $180.0M | $279.0M | $491.0M | $804.0M |
| Asset retirement obligation accretion | $380.0M | $389.0M | $366.0M | $281.0M |
| Unrealized risk management loss | $71.0M | $9.0M | $12.0M | ($28.0M) |
| Unrealized foreign exchange (gain) loss | ($870.0M) | $888.0M | ($260.0M) | $852.0M |
| Gain on acquisitions, disposition, and remeasurement | ($5.1B) | — | $0 | $0 |
| Gain from investment | $0 | ($50.0M) | ($34.0M) | ($182.0M) |
| Deferred income tax expense | $510.0M | $422.0M | $53.0M | ($139.0M) |
| Realized foreign exchange on financing activities | $54.0M | $135.0M | $0 | ($62.0M) |
| Abandonment expenditures | ($771.0M) | ($646.0M) | ($509.0M) | ($449.0M) |
| Other | ($255.0M) | ($84.0M) | $5.0M | ($144.0M) |
| Net change in non-cash working capital | $672.0M | ($743.0M) | ($2.4B) | $79.0M |
| Cash flows from operating activities | $15.1B | $13.4B | $12.4B | $19.4B |
| (Repayment) issuance of bank credit facilities and commercial paper, net | ($1.4B) | $5.5B | $0 | ($1.2B) |
| Issuance of other long-term debt | $1.6B | $2.6B | — | — |
| Repayment of other long-term debt | ($1.7B) | ($1.0B) | — | — |
| Payment of lease liabilities | ($361.0M) | ($325.0M) | ($285.0M) | ($232.0M) |
| Issuance of common shares on exercise of stock options | 264.0M | 280.0M | 372.0M | 442.0M |
| Dividends on common shares | -4.9B | -4.4B | -3.9B | -4.9B |
| Purchase of common shares under Normal Course Issuer Bid | -1.4B | -2.7B | -3.3B | -5.6B |
| Cash flows used in financing activities | ($7.9B) | ($37.0M) | ($7.5B) | ($14.2B) |
| Net expenditures on exploration and evaluation assets | ($115.0M) | ($92.0M) | ($44.0M) | ($33.0M) |
| Net expenditures on property, plant and equipment | ($6.7B) | ($5.3B) | ($4.9B) | ($5.1B) |
| Cash from AOSP asset swap | $212.0M | — | — | — |
| Acquisition of Chevron's assets | $0 | ($9.2B) | — | — |
| Net proceeds from investment | $0 | $575.0M | $0 | $0 |
| Net change in non-cash working capital | ($108.0M) | ($124.0M) | $51.0M | $149.0M |
| Cash flows used in investing activities | ($6.7B) | ($14.1B) | ($4.9B) | ($5.0B) |
| Increase (decrease) in cash and cash equivalents | $542.0M | ($746.0M) | ($43.0M) | $176.0M |
| Cash and cash equivalents – beginning of year | $131.0M | $877.0M | $920.0M | $744.0M |
| Cash and cash equivalents – end of year | $673.0M | $131.0M | $877.0M | $920.0M |
| Interest paid on long-term debt | $978.0M | $586.0M | $602.0M | $613.0M |
| Income taxes paid, net | $1.7B | $1.1B | $3.3B | $3.1B |
Canadian Natural Resources Ltd score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.