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. Explore Canadian Natural Resources Ltd (CNQ) reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
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. Also explore Canadian Natural Resources Ltd asset portfolio for the complete picture of this company's asset base.
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 CNQ market cap overview.
| 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 | — |