Canadian Natural Resources Ltd (CNQ) — Cash Flow-to-Debt Ratio
Canadian Natural Resources Ltd (CNQ) has a Cash Flow-to-Debt Ratio of 0.09x as of September 2025, meaning its operating cash flow of CA$3.94 Billion could theoretically repay 0% of its total liabilities (CA$45.13 Billion) in one year. See Canadian Natural Resources Ltd free cash flow to debt ratio to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Canadian Natural Resources Ltd Cash Flow-to-Debt Ratio (1993–2024)
Historical debt coverage capacity for Canadian Natural Resources Ltd across 32 annual periods. For the full cash flow conversion analysis, see CNQ cash flow conversion.
Annual Cash Flow-to-Debt Ratio for Canadian Natural Resources Ltd (1993–2024)
Year-by-year debt coverage analysis for Canadian Natural Resources Ltd. Check Canadian Natural Resources Ltd cash flow quality index to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (CAD) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2024 | 0.29x | CA$13.39 Billion | CA$45.89 Billion | ▼ -14.7% |
| 2023 | 0.34x | CA$12.35 Billion | CA$36.12 Billion | ▼ -33.0% |
| 2022 | 0.51x | CA$19.39 Billion | CA$37.97 Billion | ▲ +40.1% |
| 2021 | 0.36x | CA$14.48 Billion | CA$39.72 Billion | ▲ +231.7% |
| 2020 | 0.11x | CA$4.71 Billion | CA$42.90 Billion | ▼ -46.3% |
| 2019 | 0.20x | CA$8.83 Billion | CA$43.13 Billion | ▼ -19.9% |
| 2018 | 0.26x | CA$10.12 Billion | CA$39.59 Billion | ▲ +48.6% |
| 2017 | 0.17x | CA$7.26 Billion | CA$42.21 Billion | ▲ +61.4% |
| 2016 | 0.11x | CA$3.45 Billion | CA$32.38 Billion | ▼ -39.6% |
| 2015 | 0.18x | CA$5.63 Billion | CA$31.89 Billion | ▼ -34.6% |
| 2014 | 0.27x | CA$8.46 Billion | CA$31.31 Billion | ▼ -2.7% |
| 2013 | 0.28x | CA$7.22 Billion | CA$25.98 Billion | ▲ +10.5% |
| 2012 | 0.25x | CA$6.21 Billion | CA$24.70 Billion | ▼ -1.8% |
| 2011 | 0.26x | CA$6.24 Billion | CA$24.38 Billion | ▼ -11.6% |
| 2010 | 0.29x | CA$6.28 Billion | CA$21.68 Billion | ▲ +7.7% |
| 2009 | 0.27x | CA$5.81 Billion | CA$21.60 Billion | ▼ -3.5% |
| 2008 | 0.28x | CA$6.77 Billion | CA$24.28 Billion | ▲ +9.2% |
| 2007 | 0.26x | CA$5.82 Billion | CA$22.79 Billion | ▲ +37.4% |
| 2006 | 0.19x | CA$4.18 Billion | CA$22.47 Billion | ▼ -47.2% |
| 2005 | 0.35x | CA$4.80 Billion | CA$13.62 Billion | ▲ +5.9% |
| 2004 | 0.33x | CA$3.69 Billion | CA$11.09 Billion | ▼ -14.1% |
| 2003 | 0.39x | CA$3.13 Billion | CA$8.08 Billion | ▲ +62.7% |
| 2002 | 0.24x | CA$2.02 Billion | CA$8.49 Billion | ▼ -34.7% |
| 2001 | 0.36x | CA$1.89 Billion | CA$5.17 Billion | ▼ -9.2% |
| 2000 | 0.40x | CA$1.83 Billion | CA$4.56 Billion | ▲ +77.9% |
| 1999 | 0.23x | CA$668.40 Million | CA$2.96 Billion | ▲ +20.8% |
| 1998 | 0.19x | CA$368.42 Million | CA$1.97 Billion | ▼ -38.0% |
| 1997 | 0.30x | CA$520.37 Million | CA$1.73 Billion | ▼ -19.6% |
| 1996 | 0.37x | CA$370.60 Million | CA$988.40 Million | ▲ +2.4% |
| 1995 | 0.37x | CA$147.90 Million | CA$404.10 Million | ▼ -7.4% |
| 1994 | 0.40x | CA$150.90 Million | CA$381.60 Million | ▲ +16.7% |
| 1993 | 0.34x | CA$90.00 Million | CA$265.70 Million | — |