Canadian Natural Resources (CNQ) Debt Ratio (2009 - 2025)
Canadian Natural Resources (CNQ) posted Debt Ratio of 0.18 for Q4 2025, down 17.92% sequentially from 0.22 in Q4 2024, and down 17.92% YoY from 0.22 in Q4 2024.
Canadian Natural Resources (CNQ) Debt Ratio (2009 - 2025) Analysis & Trends
Canadian Natural Resources has reported Debt Ratio for 17 years, with the latest figure at 0.18 in Q4 2025.
- Quarterly Debt Ratio fell 17.92% year-over-year to 0.18 in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 0.18 (down 17.92% YoY) and the FY2025 annual result came in at 0.18, down 17.92% from the prior year.
- Debt Ratio slipped to 0.18 in Q4 2025 per CNQ's latest filing, from 0.22 in the prior quarter.
- Over five years, Debt Ratio peaked at 0.22 in Q4 2024 and troughed at 0.14 in Q4 2023.
- A 5-year average of 0.18 and a median of 0.18 in 2025 frame the typical range for Debt Ratio.
- The sharpest annual moves came in 2021 and 2024: Debt Ratio sank 32.75% in 2021, then surged 55.07% in 2024.
- Over 5 years, Debt Ratio stood at 0.19 in 2021, then declined by 21.58% to 0.15 in 2022, then slipped by 5.41% to 0.14 in 2023, then soared by 55.07% to 0.22 in 2024, then retreated by 17.92% to 0.18 in 2025.
- According to Business Quant data, Debt Ratio over the past three periods registered 0.18, 0.22, and 0.14 for Q4 2025, Q4 2024, and Q4 2023 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 164.44 Bn | 156.75 Bn | 12.81 Bn | 0.19 |
| 2 | Canadian Natural Resources | 106.98 Bn | 105.09 Bn | 10.66 Bn | - |
| 3 | Eog Resources | 80.47 Bn | 75.56 Bn | - | 0.14 |
| 4 | Diamondback Energy | 59.28 Bn | 58.82 Bn | 5.55 Bn | 0.18 |
| 5 | Woodside Energy | 46.13 Bn | 40.18 Bn | 6.02 Bn | - |
| 6 | Devon Energy | 46.12 Bn | 45.11 Bn | 6.02 Bn | 0.18 |
| 7 | Occidental Petroleum | 39.25 Bn | 35.10 Bn | 7.73 Bn | 0.17 |
| 8 | Eqt | 33.67 Bn | 33.56 Bn | 1.42 Bn | 0.14 |
| 9 | Texas Pacific Land | 26.50 Bn | 26.25 Bn | - | - |
| 10 | Expand Energy | 22.89 Bn | 21.63 Bn | 2.33 Bn | 0.13 |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 0.18 |
| Dec 31, 2024 | 0.22 |
| Dec 31, 2023 | 0.14 |
| Dec 31, 2022 | 0.15 |
| Dec 31, 2021 | 0.19 |
| Dec 31, 2020 | 0.28 |
| Mar 31, 2020 | 0.30 |
| Dec 31, 2019 | 0.27 |
| Sep 30, 2019 | 0.29 |
| Jun 30, 2019 | 0.30 |
| Mar 31, 2019 | 0.28 |
| Dec 31, 2018 | 0.29 |
| Sep 30, 2018 | 0.27 |
| Jun 30, 2018 | 0.29 |
| Mar 31, 2018 | 0.30 |
| Dec 31, 2017 | 0.30 |
| Sep 30, 2017 | 0.25 |
| Jun 30, 2017 | 0.32 |
| Mar 31, 2017 | 0.28 |
| Dec 31, 2016 | 0.29 |