Canadian Natural Resources (CNQ) FCF Margin (2009 - 2026)
Canadian Natural Resources' FCF Margin was 46.29% in the quarter ended Jun 30, 2026, up 34.72 percentage points from 11.57% a year earlier and up 15.93 percentage points from the prior quarter.
Canadian Natural Resources (CNQ) FCF Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Canadian Natural Resources' FCF Margin was 34.66% through Jun 30, 2026, up 39.53 percentage points year-over-year; for the year ended Dec 31, 2025, it was 38.97%, up 30.87 percentage points from the prior year.
- FCF Margin shows a five-year change of +30.04 percentage points (years ended Dec 2020 to Dec 2025).
- In earlier years, FCF Margin was 8.10% in the year ended Dec 31, 2024 (-26.25 pp), 34.34% in the year ended Dec 31, 2023 (-11.50 pp), 45.84% in the year ended Dec 31, 2022 (-2.32 pp) and 48.17% in the year ended Dec 31, 2021 (+39.24 pp).
- The figure for the quarter ended Jun 30, 2026 marks the highest quarterly FCF Margin since the quarter ended Dec 31, 2023.
- Compared with a year earlier, FCF Margin has increased for four straight quarters, with an average year-over-year change of -2.16 percentage points over the last eight quarters.
- The best year-over-year quarter for FCF Margin over five years was the quarter ended Dec 31, 2025 (a gain of 113.85 percentage points); the worst was the quarter ended Dec 31, 2024 (a drop of 125.04 percentage points).
- Per Business Quant data, CNQ's FCF Margin in the three quarters before the quarter ended Jun 30, 2026 was 30.36% (quarter ended Mar 31, 2026), 39.21% (quarter ended Dec 31, 2025) and 17.10% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 740.89 Bn | 697.37 Bn | - | 14.68% |
| 2 | Chevron | 445.74 Bn | 417.86 Bn | 33.45 Bn | 25.83% |
| 3 | Shell | 309.38 Bn | 239.13 Bn | 30.13 Bn | -62.50% |
| 4 | TotalEnergies SE | 197.64 Bn | 78.23 Bn | 61.77 Bn | 10.73% |
| 5 | Conocophillips | 176.81 Bn | 149.52 Bn | 12.81 Bn | 22.59% |
| 6 | Equinor Asa | 118.71 Bn | 33.16 Bn | - | 18.76% |
| 7 | Phillips 66 | 115.85 Bn | 103.64 Bn | 8.38 Bn | 12.55% |
| 8 | Canadian Natural Resources | 113.75 Bn | 110.75 Bn | 8.84 Bn | 62.43% |
| 9 | Suncor Energy | 96.26 Bn | 82.01 Bn | - | 36.85% |
| 10 | Eni Spa | 89.50 Bn | 34.06 Bn | - | 18.84% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 62.43% |
| Mar 31, 2026 | 49.71% |
| Dec 31, 2025 | 54.34% |
| Sep 30, 2025 | 54.21% |
| Jun 30, 2025 | 51.45% |
| Mar 31, 2025 | 43.90% |
| Dec 31, 2024 | -99.63% |
| Sep 30, 2024 | 41.76% |
| Jun 30, 2024 | 63.08% |
| Mar 31, 2024 | 41.52% |
| Dec 31, 2023 | 23.99% |
| Sep 30, 2023 | 46.58% |
| Jun 30, 2023 | 54.59% |
| Mar 31, 2023 | 29.25% |
| Dec 31, 2022 | 19.20% |
| Sep 30, 2022 | 27.25% |
| Jun 30, 2022 | 22.98% |
| Mar 31, 2022 | 11.52% |
| Dec 31, 2021 | 68.06% |
| Sep 30, 2021 | 67.99% |
Canadian Natural Resources FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=CNQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "CNQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=CNQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();