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 how much free cash does Canadian Natural Resources Ltd generate to measure how efficiently the company converts operating cash flow to free cash.
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. Also explore CNQ year-over-year net asset growth to track the company's year-over-year net asset growth rate.
Annual Cash Flow-to-Debt Ratio for Canadian Natural Resources Ltd (1993–2024)
Year-by-year debt coverage analysis for Canadian Natural Resources Ltd. For market capitalisation and broader financial context, see market value of Canadian Natural Resources Ltd.
| 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 | — |