Canadian Natural Resources Ltd (CNQ) — Capital Reinvestment Ratio
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 Canadian Natural Resources Ltd net asset quality index to measure how much of total assets are equity-financed.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Canadian Natural Resources Ltd Capital Reinvestment Ratio (1993–2024)
This chart tracks Canadian Natural Resources Ltd's Capital Reinvestment Ratio across 32 annual periods. Check CNQ cash reinvestment to operating cash ratio to assess the company's total reinvestment commitment from operating cash flow.
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 (CNQ) market capitalisation.
| 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 | — |