Canadian Natural Resources (CNQ) Tax Rate (2009 - 2026)
Canadian Natural Resources (CNQ) reported Tax Rate of 18.22% for the quarter ended Jun 30, 2026, up 2.63 percentage points from 15.59% a year earlier but down 13.86 percentage points from the prior quarter.
Canadian Natural Resources (CNQ) Tax Rate (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Canadian Natural Resources' Tax Rate came in at 17.38%, up 2.27 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 14.43%, down 4.56 percentage points from the prior year.
- Tax Rate has a five-year change of -6.30 percentage points (years ended Dec 2020 to Dec 2025).
- By year, Tax Rate came in at 19.00% in the year ended Dec 31, 2024 (+0.51 pp), 18.48% in the year ended Dec 31, 2023 (-2.72 pp), 21.21% in the year ended Dec 31, 2022 (+2.56 pp) and 18.65% in the year ended Dec 31, 2021 (-2.09 pp).
- Five-year quarterly Tax Rate spans a low of 7.93% in the quarter ended Dec 31, 2025 and a high of 86.04% in the quarter ended Sep 30, 2025.
- Year over year, Tax Rate gained in three of the last eight quarters, with an average year-over-year change of +7.07 percentage points.
- The high point for year-over-year Tax Rate in five years was the quarter ended Sep 30, 2025 (a gain of 72.19 percentage points); the low point was the quarter ended Dec 31, 2023 (a drop of 12.93 percentage points).
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at 32.08% (quarter ended Mar 31, 2026), 7.93% (quarter ended Dec 31, 2025) and 86.04% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 540.77 Bn | 451.32 Bn | 30.13 Bn | 31.41% |
| 2 | Chevron | 403.83 Bn | 381.62 Bn | 33.45 Bn | 26.95% |
| 3 | TotalEnergies SE | 188.75 Bn | 71.88 Bn | - | - |
| 4 | Eni Spa | 170.81 Bn | 120.33 Bn | - | - |
| 5 | Conocophillips | 150.42 Bn | 123.13 Bn | 12.81 Bn | 35.37% |
| 6 | Equinor Asa | 104.06 Bn | 50.12 Bn | - | - |
| 7 | Phillips 66 | 101.90 Bn | 90.89 Bn | 8.38 Bn | 21.97% |
| 8 | Canadian Natural Resources | 97.96 Bn | 94.91 Bn | - | 18.22% |
| 9 | Suncor Energy | 80.99 Bn | 66.79 Bn | - | - |
| 10 | Eog Resources | 72.25 Bn | 56.57 Bn | - | 22.15% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.22% |
| Mar 31, 2026 | 32.08% |
| Dec 31, 2025 | 7.93% |
| Sep 30, 2025 | 86.04% |
| Jun 30, 2025 | 15.59% |
| Mar 31, 2025 | 16.50% |
| Dec 31, 2024 | 13.93% |
| Sep 30, 2024 | 13.85% |
| Jun 30, 2024 | 23.05% |
| Mar 31, 2024 | 28.48% |
| Dec 31, 2023 | 17.07% |
| Sep 30, 2023 | 19.13% |
| Jun 30, 2023 | 17.66% |
| Mar 31, 2023 | 20.06% |
| Dec 31, 2022 | 30.00% |
| Sep 30, 2022 | 20.11% |
| Jun 30, 2022 | 19.84% |
| Mar 31, 2022 | 20.87% |
| Dec 31, 2021 | 20.03% |
| Sep 30, 2021 | 19.62% |
Canadian Natural Resources Tax Rate 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=tax-rate&ticker=CNQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=CNQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();