Canadian Natural Resources (CNQ) EBITDA Margin (2009 - 2026)
Canadian Natural Resources' (CNQ) quarterly EBITDA Margin came in at 81.91% in Q2 2026, up 847.0% year-over-year from 8.65% in Q2 2025, and up 26.49% quarter-over-quarter from 64.75% in Q1 2026.
Analysis
Canadian Natural Resources (CNQ) EBITDA Margin (2009 - 2026) Analysis & Trends
Canadian Natural Resources has disclosed EBITDA Margin across 18 years of filings, most recently posting 81.91% for Q2 2026.
- In Q2 2026, EBITDA Margin rose 847.0% year-over-year to 81.91%; the TTM figure through Jun 2026 stood at 19.96% (down 5297.0% YoY), while the FY2025 annual figure was 10.54%, down 4953.0% from the prior year.
- EBITDA Margin came in at 81.91% for Q2 2026 at Canadian Natural Resources, up from 64.75% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 213.54% in Q4 2022 to a low of 177.15% in Q4 2025.
- Average EBITDA Margin over 5 years is 73.56%, with a median of 75.92% recorded in 2024.
- Year-over-year, EBITDA Margin jumped 13766 bps in 2022 and plunged 24353 bps in 2025.
- Over 5 years, EBITDA Margin stood at 213.54% in 2022, then slipped by 25 bps to 161.19% in 2023, then slumped by 59 bps to 66.38% in 2024, then tumbled by 367 bps to 177.15% in 2025, then surged by 146 bps to 81.91% in 2026.
- Per Business Quant data, the three most recent EBITDA Margin figures were 81.91% in Q2 2026, 64.75% in Q1 2026, and 177.15% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 166.97 Bn | 159.28 Bn | 12.81 Bn | 53.17% |
| 2 | Canadian Natural Resources | 106.82 Bn | 104.92 Bn | 8.84 Bn | 81.91% |
| 3 | Eog Resources | 77.61 Bn | 72.70 Bn | - | 40.93% |
| 4 | Diamondback Energy | 57.64 Bn | 57.18 Bn | 5.55 Bn | 45.16% |
| 5 | Devon Energy | 46.73 Bn | 45.72 Bn | 6.02 Bn | 32.14% |
| 6 | Expand Energy | 23.21 Bn | 21.95 Bn | 2.33 Bn | 22.33% |
| 7 | Permian Resources | 19.98 Bn | 19.72 Bn | - | 49.95% |
| 8 | Ovintiv | 18.04 Bn | 17.15 Bn | 2.83 Bn | 32.99% |
| 9 | Apa | 15.87 Bn | 15.42 Bn | 2.28 Bn | 48.15% |
| 10 | Antero Resources | 12.22 Bn | 11.64 Bn | 1.56 Bn | 24.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 81.91% |
| Mar 31, 2026 | 64.75% |
| Dec 31, 2025 | -177.15% |
| Sep 30, 2025 | 69.84% |
| Jun 30, 2025 | 73.44% |
| Mar 31, 2025 | 74.83% |
| Dec 31, 2024 | 66.38% |
| Sep 30, 2024 | 77.03% |
| Jun 30, 2024 | 73.58% |
| Mar 31, 2024 | 77.01% |
| Dec 31, 2023 | 161.19% |
| Sep 30, 2023 | 82.05% |
| Jun 30, 2023 | 70.81% |
| Mar 31, 2023 | 80.80% |
| Dec 31, 2022 | 213.54% |
| Sep 30, 2022 | 71.60% |
| Jun 30, 2022 | 79.48% |
| Mar 31, 2022 | 82.89% |
| Dec 31, 2021 | 75.88% |
| Sep 30, 2021 | 69.15% |