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. See Canadian Natural Resources Ltd free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
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. For the full cash flow conversion analysis, see Canadian Natural Resources Ltd operating cash flow efficiency.
Annual Cash Flow Reinvestment Rate for Canadian Natural Resources Ltd (1993–2024)
Year-by-year capital reinvestment analysis for Canadian Natural Resources Ltd. See financial flexibility index of Canadian Natural Resources Ltd to measure the company's free cash flow as a share of total liabilities.
| 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 | — |