Canadian Natural Resources (CNQ) Operating Margin (2009 - 2026)

Canadian Natural Resources has disclosed Operating Margin across 18 years of filings, most recently posting 72.1% for Q1 2026.

• Operating Margin for Q1 2026 came in at 72.1%, down 821.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 20.79% (down 5703.0% YoY), and the FY2025 annual result was 20.22%, up 80.0% from the prior year.
• Operating Margin came in at 72.1% for Q1 2026 at Canadian Natural Resources, up from 136.49% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 87.89% in Q4 2023 to a low of 136.49% in Q4 2025.
• The 5-year median for Operating Margin is 79.12% (2022), against an average of 67.18%.
• Peak annual rise in Operating Margin reached 894 bps in 2025, while the deepest fall reached 20722 bps in 2025.
• Canadian Natural Resources' Operating Margin stood at 84.01% in 2022, then grew by 5 bps to 87.89% in 2023, then slipped by 20 bps to 70.73% in 2024, then sank by 293 bps to 136.49% in 2025, then soared by 153 bps to 72.1% in 2026.
• The last three Operating Margin figures came in at 72.1% (Q1 2026), 136.49% (Q4 2025), and 76.84% (Q3 2025), per Business Quant data.