Canadian Natural Resources (CNQ) FCF Margin (2009 - 2026)
Canadian Natural Resources' (CNQ) quarterly FCF Margin came in at 62.43% in Q2 2026, up 520.0% year-over-year from 10.07% in Q2 2025, and up 25.58% quarter-over-quarter from 49.71% in Q1 2026.
Analysis
Canadian Natural Resources (CNQ) FCF Margin (2009 - 2026) Analysis & Trends
Canadian Natural Resources has disclosed FCF Margin across 18 years of filings, most recently posting 62.43% for Q2 2026.
- In Q2 2026, FCF Margin rose 520.0% year-over-year to 62.43%; the TTM figure through Jun 2026 stood at 57.74% (up 1545.0% YoY), while the FY2025 annual figure was 56.19%, up 381.0% from the prior year.
- FCF Margin came in at 62.43% for Q2 2026 at Canadian Natural Resources, up from 49.71% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 69.14% in Q3 2022 to a low of 3.13% in Q1 2023.
- Average FCF Margin over 5 years is 34.19%, with a median of 36.15% recorded in 2023.
- Year-over-year, FCF Margin plunged 5742 bps in 2023 and jumped 5313 bps in 2025.
- Over 5 years, FCF Margin stood at 19.2% in 2022, then climbed by 18 bps to 22.59% in 2023, then jumped by 120 bps to 49.78% in 2024, then gained by 9 bps to 54.34% in 2025, then climbed by 15 bps to 62.43% in 2026.
- Per Business Quant data, the three most recent FCF Margin figures were 62.43% in Q2 2026, 49.71% in Q1 2026, and 54.34% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 164.40 Bn | 156.71 Bn | 12.81 Bn | 22.59% |
| 2 | Canadian Natural Resources | 106.66 Bn | 104.77 Bn | 8.84 Bn | 62.43% |
| 3 | Eog Resources | 76.54 Bn | 71.63 Bn | - | 35.16% |
| 4 | Diamondback Energy | 56.91 Bn | 56.44 Bn | 5.55 Bn | 46.62% |
| 5 | Devon Energy | 45.83 Bn | 44.82 Bn | 6.02 Bn | 31.76% |
| 6 | Expand Energy | 22.80 Bn | 21.53 Bn | 2.33 Bn | 11.59% |
| 7 | Permian Resources | 19.78 Bn | 19.52 Bn | - | 52.97% |
| 8 | Ovintiv | 17.87 Bn | 16.98 Bn | 2.83 Bn | 35.11% |
| 9 | Apa | 15.68 Bn | 15.23 Bn | 2.28 Bn | 47.39% |
| 10 | Antero Resources | 12.00 Bn | 11.42 Bn | 1.56 Bn | 8.40% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 62.43% |
| Mar 31, 2026 | 49.71% |
| Dec 31, 2025 | 54.34% |
| Sep 30, 2025 | 63.06% |
| Jun 30, 2025 | 57.23% |
| Mar 31, 2025 | 51.02% |
| Dec 31, 2024 | 49.78% |
| Sep 30, 2024 | 9.93% |
| Jun 30, 2024 | 18.68% |
| Mar 31, 2024 | 9.06% |
| Dec 31, 2023 | 22.59% |
| Sep 30, 2023 | 11.72% |
| Jun 30, 2023 | 6.38% |
| Mar 31, 2023 | -3.13% |
| Dec 31, 2022 | 19.20% |
| Sep 30, 2022 | 69.14% |
| Jun 30, 2022 | 52.66% |
| Mar 31, 2022 | 11.52% |
| Dec 31, 2021 | 68.06% |
| Sep 30, 2021 | 67.99% |