Canadian Natural Resources (CNQ) EBITDA (2009 - 2026)
Canadian Natural Resources (CNQ) posted EBITDA of $6.8 billion for Q1 2026, down 59.3% sequentially from $16.8 billion in Q4 2025, and down 6.96% YoY from $7.4 billion in Q1 2025.
Canadian Natural Resources (CNQ) EBITDA (2009 - 2026) Analysis & Trends
Canadian Natural Resources has reported EBITDA for 18 years, with the latest figure at $6.8 billion in Q1 2026.
- Quarterly EBITDA fell 6.96% year-over-year to $6.8 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $34.4 billion (up 19.41% YoY) and the FY2025 annual result came in at $16.8 billion, up 49.93% from the prior year.
- EBITDA declined to $6.8 billion in Q1 2026 per CNQ's latest filing, from $16.8 billion in the prior quarter.
- Over five years, EBITDA peaked at $17.3 billion in Q4 2022 and troughed at $5.2 billion in Q2 2024.
- A 5-year average of $8.3 billion and a median of $6.8 billion in 2026 frame the typical range for EBITDA.
- The sharpest annual moves came in 2022 and 2023: EBITDA soared 67.16% in 2022, then tumbled 32.27% in 2023.
- Over 5 years, EBITDA stood at $17.3 billion in 2022, then decreased by 27.01% to $12.6 billion in 2023, then retreated by 13.2% to $11.0 billion in 2024, then surged by 53.27% to $16.8 billion in 2025, then tumbled by 59.3% to $6.8 billion in 2026.
- According to Business Quant data, EBITDA over the past three periods registered $6.8 billion, $16.8 billion, and $5.3 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 163.55 Bn | 155.86 Bn | 12.81 Bn | 10.38 Bn |
| 2 | Canadian Natural Resources | 106.27 Bn | 104.37 Bn | 10.66 Bn | 10.54 Bn |
| 3 | Eog Resources | 80.09 Bn | 75.19 Bn | - | 3.53 Bn |
| 4 | Diamondback Energy | 59.30 Bn | 58.83 Bn | 5.55 Bn | 2.51 Bn |
| 5 | Devon Energy | 46.23 Bn | 45.22 Bn | 6.02 Bn | 2.38 Bn |
| 6 | Woodside Energy | 45.77 Bn | 39.83 Bn | 6.02 Bn | 6.02 Bn |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 3.19 Bn |
| 8 | Eqt | 33.71 Bn | 33.60 Bn | 1.42 Bn | 394.04 Mn |
| 9 | Texas Pacific Land | 25.43 Bn | 25.18 Bn | - | 196.62 Mn |
| 10 | Expand Energy | 22.90 Bn | 21.63 Bn | 2.33 Bn | 661.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 6.85 Bn |
| Dec 31, 2025 | 16.82 Bn |
| Sep 30, 2025 | 5.31 Bn |
| Jun 30, 2025 | 5.46 Bn |
| Mar 31, 2025 | 7.36 Bn |
| Dec 31, 2024 | 10.98 Bn |
| Sep 30, 2024 | 5.34 Bn |
| Jun 30, 2024 | 5.17 Bn |
| Mar 31, 2024 | 5.55 Bn |
| Dec 31, 2023 | 12.64 Bn |
| Sep 30, 2023 | 6.80 Bn |
| Jun 30, 2023 | 5.81 Bn |
| Mar 31, 2023 | 6.15 Bn |
| Dec 31, 2022 | 17.32 Bn |
| Sep 30, 2022 | 7.33 Bn |
| Jun 30, 2022 | 8.57 Bn |
| Mar 31, 2022 | 7.96 Bn |
| Dec 31, 2021 | 13.37 Bn |
| Sep 30, 2021 | 4.99 Bn |
| Jun 30, 2021 | 5.13 Bn |