Canadian Natural Resources Ltd (CNQ) — Cash Flow Reinvestment Rate
Canadian Natural Resources Ltd (CNQ) has a Cash Flow Reinvestment Rate of 1.11x as of September 2025, reinvesting CA$4.36 Billion (capex CA$2.12 Billion plus investments CA$-2.23 Billion) from operating cash flow of CA$3.94 Billion. Check CNQ cash flow quality score to evaluate the quality of earnings relative to operating cash generation.
Reinvestment Rate
Total Reinvested
Operating Cash Flow
Capital Expenditures
Canadian Natural Resources Ltd Cash Flow Reinvestment Rate (1993–2024)
Historical reinvestment intensity for Canadian Natural Resources Ltd across 32 annual periods. Explore CNQ long-term investment intensity to see how much of total assets are deployed in long-term investments.
Annual Cash Flow Reinvestment Rate for Canadian Natural Resources Ltd (1993–2024)
Year-by-year capital reinvestment analysis for Canadian Natural Resources Ltd. For live market cap and broader valuation context, see Canadian Natural Resources Ltd market cap and net worth.
| Year | Reinvestment Rate | Total Reinvested (CAD) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2024 | 1.46x | CA$19.48 Billion | CA$13.39 Billion | CA$5.38 Billion | ▲ +84.0% |
| 2023 | 0.79x | CA$9.77 Billion | CA$12.35 Billion | CA$4.91 Billion | ▲ +51.9% |
| 2022 | 0.52x | CA$10.09 Billion | CA$19.39 Billion | CA$5.10 Billion | ▲ +63.1% |
| 2021 | 0.32x | CA$4.62 Billion | CA$14.48 Billion | CA$4.49 Billion | ▼ -72.0% |
| 2020 | 1.14x | CA$5.37 Billion | CA$4.71 Billion | CA$2.56 Billion | ▼ -6.7% |
| 2019 | 1.22x | CA$10.79 Billion | CA$8.83 Billion | CA$3.54 Billion | ▲ +37.6% |
| 2018 | 0.89x | CA$8.99 Billion | CA$10.12 Billion | CA$4.17 Billion | ▼ -63.5% |
| 2017 | 2.43x | CA$17.68 Billion | CA$7.26 Billion | CA$4.57 Billion | ▲ +10.4% |
| 2016 | 2.21x | CA$7.61 Billion | CA$3.45 Billion | CA$3.80 Billion | ▲ +7.2% |
| 2015 | 2.06x | CA$11.59 Billion | CA$5.63 Billion | CA$4.70 Billion | ▲ +70.6% |
| 2014 | 1.21x | CA$10.21 Billion | CA$8.46 Billion | CA$10.21 Billion | ▲ +20.8% |
| 2013 | 1.00x | CA$7.21 Billion | CA$7.22 Billion | CA$7.21 Billion | ▲ +1.6% |
| 2012 | 0.98x | CA$6.10 Billion | CA$6.21 Billion | CA$6.10 Billion | ▼ -1.0% |
| 2011 | 0.99x | CA$6.20 Billion | CA$6.24 Billion | CA$6.20 Billion | ▲ +17.0% |
| 2010 | 0.85x | CA$5.33 Billion | CA$6.28 Billion | CA$5.33 Billion | ▲ +65.3% |
| 2009 | 0.51x | CA$2.98 Billion | CA$5.81 Billion | CA$2.98 Billion | ▼ -53.2% |
| 2008 | 1.10x | CA$7.43 Billion | CA$6.77 Billion | CA$7.43 Billion | ▼ -1.1% |
| 2007 | 1.11x | CA$6.46 Billion | CA$5.82 Billion | CA$6.46 Billion | ▼ -36.1% |
| 2006 | 1.74x | CA$7.27 Billion | CA$4.18 Billion | CA$7.27 Billion | ▲ +56.3% |
| 2005 | 1.11x | CA$5.34 Billion | CA$4.80 Billion | CA$5.34 Billion | ▼ -10.4% |
| 2004 | 1.24x | CA$4.58 Billion | CA$3.69 Billion | CA$4.58 Billion | ▲ +54.0% |
| 2003 | 0.81x | CA$2.53 Billion | CA$3.13 Billion | CA$2.53 Billion | ▼ -6.9% |
| 2002 | 0.87x | CA$1.75 Billion | CA$2.02 Billion | CA$1.75 Billion | ▼ -16.1% |
| 2001 | 1.03x | CA$1.95 Billion | CA$1.89 Billion | CA$1.95 Billion | ▲ +46.0% |
| 2000 | 0.71x | CA$1.30 Billion | CA$1.83 Billion | CA$1.30 Billion | ▼ -75.3% |
| 1999 | 2.87x | CA$1.92 Billion | CA$668.40 Million | CA$1.92 Billion | ▲ +42.5% |
| 1998 | 2.01x | CA$741.49 Million | CA$368.42 Million | CA$741.49 Million | ▼ -9.2% |
| 1997 | 2.22x | CA$1.15 Billion | CA$520.37 Million | CA$1.15 Billion | ▼ -32.4% |
| 1996 | 3.28x | CA$1.21 Billion | CA$370.60 Million | CA$1.21 Billion | ▲ +95.2% |
| 1995 | 1.68x | CA$248.30 Million | CA$147.90 Million | CA$248.30 Million | ▼ -29.9% |
| 1994 | 2.39x | CA$361.40 Million | CA$150.90 Million | CA$361.40 Million | ▼ -23.4% |
| 1993 | 3.13x | CA$281.40 Million | CA$90.00 Million | CA$281.40 Million | — |