Canadian Natural Resources Ltd (CNQ) — Capital Reinvestment Ratio
Latest as of September 2025:
0.54x
Canadian Natural Resources Ltd (CNQ) has a Capital Reinvestment Ratio of 0.54x as of September 2025, meaning it reinvests 1% of its operating cash flow (CA$3.94 Billion) in capital expenditures (CA$2.12 Billion). See CNQ free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
0.54x
Capex / Operating Cash Flow
Operating Cash Flow
CA$3.94 Billion
CAD
Capital Expenditures
CA$2.12 Billion
CAD
Data as of
Sep 2025
Most recent filing
Canadian Natural Resources Ltd Capital Reinvestment Ratio (1993–2024)
This chart tracks Canadian Natural Resources Ltd's Capital Reinvestment Ratio across 32 annual periods.
Annual Capital Reinvestment Ratio for Canadian Natural Resources Ltd (1993–2024)
Year-by-year Capital Reinvestment Ratio for Canadian Natural Resources Ltd from 1993 to 2024. For live market cap and broader valuation context, see Canadian Natural Resources Ltd market cap and net worth.
| Year | Reinvestment Ratio | Operating CF (CAD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2024 | 0.40x | CA$13.39 Billion | CA$5.38 Billion | ▲ +1.2% |
| 2023 | 0.40x | CA$12.35 Billion | CA$4.91 Billion | ▲ +51.0% |
| 2022 | 0.26x | CA$19.39 Billion | CA$5.10 Billion | ▼ -15.2% |
| 2021 | 0.31x | CA$14.48 Billion | CA$4.49 Billion | ▼ -42.8% |
| 2020 | 0.54x | CA$4.71 Billion | CA$2.56 Billion | ▲ +35.4% |
| 2019 | 0.40x | CA$8.83 Billion | CA$3.54 Billion | ▼ -2.9% |
| 2018 | 0.41x | CA$10.12 Billion | CA$4.17 Billion | ▼ -34.5% |
| 2017 | 0.63x | CA$7.26 Billion | CA$4.57 Billion | ▼ -42.8% |
| 2016 | 1.10x | CA$3.45 Billion | CA$3.80 Billion | ▲ +31.9% |
| 2015 | 0.84x | CA$5.63 Billion | CA$4.70 Billion | ▼ -30.8% |
| 2014 | 1.21x | CA$8.46 Billion | CA$10.21 Billion | ▲ +20.8% |
| 2013 | 1.00x | CA$7.22 Billion | CA$7.21 Billion | ▲ +1.6% |
| 2012 | 0.98x | CA$6.21 Billion | CA$6.10 Billion | ▼ -1.0% |
| 2011 | 0.99x | CA$6.24 Billion | CA$6.20 Billion | ▲ +17.0% |
| 2010 | 0.85x | CA$6.28 Billion | CA$5.33 Billion | ▲ +65.3% |
| 2009 | 0.51x | CA$5.81 Billion | CA$2.98 Billion | ▼ -53.2% |
| 2008 | 1.10x | CA$6.77 Billion | CA$7.43 Billion | ▼ -1.1% |
| 2007 | 1.11x | CA$5.82 Billion | CA$6.46 Billion | ▼ -36.1% |
| 2006 | 1.74x | CA$4.18 Billion | CA$7.27 Billion | ▲ +56.3% |
| 2005 | 1.11x | CA$4.80 Billion | CA$5.34 Billion | ▼ -10.4% |
| 2004 | 1.24x | CA$3.69 Billion | CA$4.58 Billion | ▲ +54.0% |
| 2003 | 0.81x | CA$3.13 Billion | CA$2.53 Billion | ▼ -6.9% |
| 2002 | 0.87x | CA$2.02 Billion | CA$1.75 Billion | ▼ -16.1% |
| 2001 | 1.03x | CA$1.89 Billion | CA$1.95 Billion | ▲ +46.0% |
| 2000 | 0.71x | CA$1.83 Billion | CA$1.30 Billion | ▼ -75.3% |
| 1999 | 2.87x | CA$668.40 Million | CA$1.92 Billion | ▲ +42.5% |
| 1998 | 2.01x | CA$368.42 Million | CA$741.49 Million | ▼ -9.2% |
| 1997 | 2.22x | CA$520.37 Million | CA$1.15 Billion | ▼ -32.4% |
| 1996 | 3.28x | CA$370.60 Million | CA$1.21 Billion | ▲ +95.2% |
| 1995 | 1.68x | CA$147.90 Million | CA$248.30 Million | ▼ -29.9% |
| 1994 | 2.39x | CA$150.90 Million | CA$361.40 Million | ▼ -23.4% |
| 1993 | 3.13x | CA$90.00 Million | CA$281.40 Million | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow