Canadian Natural Resources Ltd (CNQ) — Financial Flexibility Index
Canadian Natural Resources Ltd (CNQ) has a Financial Flexibility Index of 0.13x as of September 2025. Free cash flow of CA$6.06 Billion (operating CF CA$3.94 Billion minus capex CA$2.12 Billion) represents 0% of total liabilities (CA$45.13 Billion). Check Canadian Natural Resources Ltd (CNQ) strategic investment index to assess the company's strategic physical and investment asset allocation.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Canadian Natural Resources Ltd Financial Flexibility Index (1993–2024)
Historical Financial Flexibility Index trend for Canadian Natural Resources Ltd across 32 annual periods. See Canadian Natural Resources Ltd (CNQ) liquidity to equity ratio to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for Canadian Natural Resources Ltd (1993–2024)
Year-by-year free cash flow to debt coverage for Canadian Natural Resources Ltd. For the full company profile including market capitalisation, see Canadian Natural Resources Ltd stock valuation.
| Year | Flexibility Index | Free Cash Flow (CAD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2024 | 0.41x | CA$18.77 Billion | CA$13.39 Billion | CA$45.89 Billion | ▼ -14.4% |
| 2023 | 0.48x | CA$17.26 Billion | CA$12.35 Billion | CA$36.12 Billion | ▼ -25.9% |
| 2022 | 0.65x | CA$24.49 Billion | CA$19.39 Billion | CA$37.97 Billion | ▲ +35.1% |
| 2021 | 0.48x | CA$18.97 Billion | CA$14.48 Billion | CA$39.72 Billion | ▲ +181.8% |
| 2020 | 0.17x | CA$7.27 Billion | CA$4.71 Billion | CA$42.90 Billion | ▼ -40.9% |
| 2019 | 0.29x | CA$12.36 Billion | CA$8.83 Billion | CA$43.13 Billion | ▼ -20.6% |
| 2018 | 0.36x | CA$14.30 Billion | CA$10.12 Billion | CA$39.59 Billion | ▲ +28.8% |
| 2017 | 0.28x | CA$11.84 Billion | CA$7.26 Billion | CA$42.21 Billion | ▲ +25.1% |
| 2016 | 0.22x | CA$7.25 Billion | CA$3.45 Billion | CA$32.38 Billion | ▼ -30.9% |
| 2015 | 0.32x | CA$10.34 Billion | CA$5.63 Billion | CA$31.89 Billion | ▼ -45.6% |
| 2014 | 0.60x | CA$18.67 Billion | CA$8.46 Billion | CA$31.31 Billion | ▲ +7.4% |
| 2013 | 0.56x | CA$14.43 Billion | CA$7.22 Billion | CA$25.98 Billion | ▲ +11.4% |
| 2012 | 0.50x | CA$12.31 Billion | CA$6.21 Billion | CA$24.70 Billion | ▼ -2.3% |
| 2011 | 0.51x | CA$12.44 Billion | CA$6.24 Billion | CA$24.38 Billion | ▼ -4.7% |
| 2010 | 0.54x | CA$11.62 Billion | CA$6.28 Billion | CA$21.68 Billion | ▲ +31.6% |
| 2009 | 0.41x | CA$8.80 Billion | CA$5.81 Billion | CA$21.60 Billion | ▼ -30.4% |
| 2008 | 0.58x | CA$14.20 Billion | CA$6.77 Billion | CA$24.28 Billion | ▲ +8.5% |
| 2007 | 0.54x | CA$12.28 Billion | CA$5.82 Billion | CA$22.79 Billion | ▲ +5.8% |
| 2006 | 0.51x | CA$11.44 Billion | CA$4.18 Billion | CA$22.47 Billion | ▼ -31.6% |
| 2005 | 0.74x | CA$10.14 Billion | CA$4.80 Billion | CA$13.62 Billion | ▼ -0.2% |
| 2004 | 0.75x | CA$8.27 Billion | CA$3.69 Billion | CA$11.09 Billion | ▲ +6.6% |
| 2003 | 0.70x | CA$5.66 Billion | CA$3.13 Billion | CA$8.08 Billion | ▲ +57.5% |
| 2002 | 0.44x | CA$3.77 Billion | CA$2.02 Billion | CA$8.49 Billion | ▼ -40.1% |
| 2001 | 0.74x | CA$3.84 Billion | CA$1.89 Billion | CA$5.17 Billion | ▲ +8.1% |
| 2000 | 0.69x | CA$3.13 Billion | CA$1.83 Billion | CA$4.56 Billion | ▼ -21.5% |
| 1999 | 0.87x | CA$2.59 Billion | CA$668.40 Million | CA$2.96 Billion | ▲ +55.1% |
| 1998 | 0.56x | CA$1.11 Billion | CA$368.42 Million | CA$1.97 Billion | ▼ -41.9% |
| 1997 | 0.97x | CA$1.67 Billion | CA$520.37 Million | CA$1.73 Billion | ▼ -39.6% |
| 1996 | 1.60x | CA$1.59 Billion | CA$370.60 Million | CA$988.40 Million | ▲ +63.6% |
| 1995 | 0.98x | CA$396.20 Million | CA$147.90 Million | CA$404.10 Million | ▼ -27.0% |
| 1994 | 1.34x | CA$512.30 Million | CA$150.90 Million | CA$381.60 Million | ▼ -4.0% |
| 1993 | 1.40x | CA$371.40 Million | CA$90.00 Million | CA$265.70 Million | — |