Canadian Natural Resources (CNQ) Operating Expenses (2009 - 2026)
Canadian Natural Resources' Operating Expenses was $114.95 million in the quarter ended Jun 30, 2026, up 5.5% from $108.98 million a year earlier and up 2.4% from the prior quarter.
Canadian Natural Resources (CNQ) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Canadian Natural Resources' Operating Expenses was $452.43 million through Jun 30, 2026, up 13.6% year-over-year; for the year ended Dec 31, 2025, it was $18.27 billion, down 9.4% from the prior year.
- Operating Expenses shows a five-year compound annual growth rate of 6.6% (years ended Dec 2020 to Dec 2025).
- In earlier years, Operating Expenses was $20.16 billion in the year ended Dec 31, 2024 (+5.4%), $19.12 billion in the year ended Dec 31, 2023 (-13.0%), $21.99 billion in the year ended Dec 31, 2022 (+36.8%) and $16.08 billion in the year ended Dec 31, 2021 (+21.2%).
- The figure for the quarter ended Jun 30, 2026 marks the highest quarterly Operating Expenses since the quarter ended Mar 31, 2020.
- Compared with a year earlier, Operating Expenses has increased for 13 straight quarters, with growth averaging 13.7% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was the quarter ended Dec 31, 2025 (growth of 26.2%); the worst was the quarter ended Mar 31, 2023 (a decline of 14.4%).
- Per Business Quant data, CNQ's Operating Expenses in the three quarters before the quarter ended Jun 30, 2026 was $112.3 million (quarter ended Mar 31, 2026), $114.73 million (quarter ended Dec 31, 2025) and $110.45 million (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 678.46 Bn | 636.61 Bn | - | 91.93 Bn |
| 2 | Shell | 572.35 Bn | 454.96 Bn | - | 3.19 Bn |
| 3 | Chevron | 410.31 Bn | 377.35 Bn | 31.26 Bn | 54.17 Bn |
| 4 | TotalEnergies SE | 190.98 Bn | 74.26 Bn | - | 46.44 Bn |
| 5 | Eni Spa | 166.41 Bn | 117.77 Bn | - | - |
| 6 | Conocophillips | 163.94 Bn | 136.65 Bn | 12.81 Bn | 2.43 Bn |
| 7 | Equinor Asa | 104.52 Bn | 35.38 Bn | 12.28 Bn | 19.86 Bn |
| 8 | Canadian Natural Resources | 100.46 Bn | 98.53 Bn | - | - |
| 9 | Phillips 66 | 99.08 Bn | 82.87 Bn | 10.69 Bn | 44.40 Bn |
| 10 | Suncor Energy | 82.03 Bn | 74.17 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 590.04 Mn |
| Jun 30, 2026 | 114.95 Mn |
| Mar 31, 2026 | 1.04 Bn |
| Dec 31, 2025 | 17.37 Bn |
| Sep 30, 2025 | 472.31 Mn |
| Jun 30, 2025 | 108.98 Mn |
| Mar 31, 2025 | 265.53 Mn |
| Dec 31, 2024 | 841.12 Mn |
| Sep 30, 2024 | 68.91 Mn |
| Jun 30, 2024 | 301.23 Mn |
| Mar 31, 2024 | 565.49 Mn |
| Dec 31, 2023 | 22.77 Mn |
| Sep 30, 2023 | 582.57 Mn |
| Jun 30, 2023 | 68.49 Mn |
| Mar 31, 2023 | 232.26 Mn |
| Dec 31, 2022 | 166.49 Mn |
| Sep 30, 2022 | 685.47 Mn |
| Jun 30, 2022 | 429.03 Mn |
| Mar 31, 2022 | 465.79 Mn |
| Dec 31, 2021 | 280.05 Mn |
Canadian Natural Resources Operating Expenses 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=operating-expenses&ticker=CNQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=CNQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();