Canadian Natural Resources Ltd Financial Flexibility Index

Latest as of September 2025: 0.13x

Canadian Natural Resources Ltd 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). Explore Canadian Natural Resources Ltd capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.

Financial Flexibility Index

0.13x
Free Cash Flow / Total Liabilities

Free Cash Flow

CA$6.06 Billion
Operating CF − Capex

Total Liabilities

CA$45.13 Billion
CAD

Capital Expenditures

CA$2.12 Billion
CAD

Financial Flexibility Index of Canadian Natural Resources Ltd (1993–2024)

Financial flexibility index of Canadian Natural Resources Ltd from 1993 to 2024. Historical Financial Flexibility Index trend for Canadian Natural Resources Ltd across 32 annual periods. Check CNQ capex plus investments ratio to assess the company's total reinvestment commitment from operating cash flow.

Canadian Natural Resources Ltd Financial Flexibility Index by Year (1993–2024)

Canadian Natural Resources Ltd financial flexibility index by year from 1993 to 2024. Year-by-year free cash flow to debt coverage for Canadian Natural Resources Ltd. For the full cash flow conversion analysis, see CNQ operating cash flow.

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 —
Financial Flexibility Index = (Operating CF − Capex) / Total Liabilities = Free Cash Flow / Total Liabilities