Canadian Natural Resources (CNQ) Return on Capital Employed (2009 - 2025)
Canadian Natural Resources' (CNQ) quarterly Return on Capital Employed came in at 91.79% in Q4 2025, down 24527.0% year-on-year from N/an in Q4 2024, and down 72.77% quarter-over-quarter from 337.06% in Q4 2024.
Canadian Natural Resources (CNQ) Return on Capital Employed (2009 - 2025) Analysis & Trends
Canadian Natural Resources has disclosed Return on Capital Employed across 17 years of filings, most recently posting 91.79% for Q4 2025.
- Return on Capital Employed for Q4 2025 came in at 91.79%, down 24527.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 91.79% (down 24527.0% YoY), and the FY2025 annual result was 78.79%, down 1970.0% from the prior year.
- Return on Capital Employed came in at 91.79% for Q4 2025 at Canadian Natural Resources, down from 337.06% in the prior quarter.
- In the past five years, Return on Capital Employed ranged from a high of 420.94% in Q4 2022 to a low of 91.79% in Q4 2025.
- The 5-year median for Return on Capital Employed is 321.44% (2021), against an average of 294.44%.
- Across the five-year window, Return on Capital Employed surged 9950 bps in 2022 and sank 24527 bps in 2025, its largest moves.
- Canadian Natural Resources' Return on Capital Employed stood at 321.44% in 2021, then surged by 31 bps to 420.94% in 2022, then decreased by 29 bps to 300.96% in 2023, then advanced by 12 bps to 337.06% in 2024, then tumbled by 73 bps to 91.79% in 2025.
- The last three Return on Capital Employed figures came in at 91.79% (Q4 2025), 337.06% (Q4 2024), and 300.96% (Q4 2023), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Woodside Energy | 630.08 Bn | 624.14 Bn | - | 13.66% |
| 2 | Canadian Natural Resources | 388.31 Bn | 388.31 Bn | 6.72 Bn | - |
| 3 | Conocophillips | 142.98 Bn | 136.61 Bn | 9.48 Bn | 22.41% |
| 4 | Eog Resources | 72.93 Bn | 69.08 Bn | - | 15.04% |
| 5 | Occidental Petroleum | 55.91 Bn | 52.73 Bn | 4.87 Bn | 19.02% |
| 6 | Diamondback Energy | 54.95 Bn | 61.11 Bn | 4.22 Bn | -0.44% |
| 7 | Vista Energy, S.A.B. de C.V | 35.18 Bn | 34.56 Bn | 472.36 Mn | 23.41% |
| 8 | Eqt | 32.94 Bn | 36.28 Bn | 2.98 Bn | 12.16% |
| 9 | Vermilion Energy | 31.24 Bn | 31.05 Bn | 370.10 Mn | 34,022.25% |
| 10 | Devon Energy | 27.08 Bn | 27.08 Bn | 3.61 Bn | 0.21% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 91.79% |
| Dec 31, 2024 | 337.06% |
| Dec 31, 2023 | 300.96% |
| Dec 31, 2022 | 420.94% |
| Dec 31, 2021 | 321.44% |
| Mar 31, 2020 | 27.08% |
| Dec 31, 2019 | 23.52% |
| Sep 30, 2019 | 15.21% |
| Jun 30, 2019 | 9.85% |
| Mar 31, 2019 | 3.90% |
| Dec 31, 2018 | 3.43% |
| Sep 30, 2018 | 5.24% |
| Jun 30, 2018 | 5.33% |
| Mar 31, 2018 | 5.15% |
| Dec 31, 2017 | 3.97% |
| Sep 30, 2017 | 4.04% |
| Jun 30, 2017 | 0.91% |
| Mar 31, 2017 | -1.94% |
| Dec 31, 2016 | -3.08% |
| Sep 30, 2016 | -3.92% |