Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the debt to assets ratio high or low?
The debt to assets ratio of 21.29% is 13% above its 5-year average of 18.88%, around the middle of its 5-year range (13.36%–26.63%).
As of the fiscal period ended Tuesday, March 31, 2026. 2.82% above its 12-month average of 20.70%.
Reported quarterly debt to assets ratio; no daily interpolation.
DEBT TO ASSETS RATIO
21.29%
DEBT TO ASSETS RATIO AVG TTM
20.70%
DEBT TO ASSETS RATIO AVG 3Y
18.01%
DEBT TO ASSETS RATIO AVG 5Y
18.88%
DEBT TO ASSETS RATIO AVG 10Y
24.04%
DEBT TO ASSETS RATIO AVG 15Y
23.05%
DEBT TO ASSETS RATIO AVG 20Y
24.02%
CURRENT VS TTM AVG
+2.82%
CURRENT VS 3Y AVG
+18.20%
CURRENT VS 5Y AVG
+12.77%
CURRENT VS 10Y AVG
-11.47%
CURRENT VS 15Y AVG
-7.66%
CURRENT VS 20Y AVG
-11.37%
SECTOR MEDIAN · ENERGY
0.26%
median of 42 covered companies
CURRENT VS SECTOR MEDIAN
+8247.93%
vs the sector median at left
Canadian Natural Resources Limited
Market Cap
$93.42B
Debt to Assets Ratio
21.29%
TTM Avg
20.70%
3Y Avg
18.01%
5Y Avg
18.88%
Market Cap
$91.19B
Debt to Assets Ratio
0.40%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$90.54B
Debt to Assets Ratio
0.20%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$86.58B
Debt to Assets Ratio
0.50%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$82.47B
Debt to Assets Ratio
0.45%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
| NAME | MARKET CAP | DEBT TO ASSETS RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Canadian Natural Resources Limited (CNQ) | $93.42B | 21.29% | 20.70% | 18.01% | 18.88% |
| Marathon Petroleum Corporation (MPC)vs › | $91.19B | 0.40% | N/A | N/A | N/A |
| Valero Energy Corporation (VLO)vs › | $90.54B | 0.20% | N/A | N/A | N/A |
| The Williams Companies, Inc. (WMB)vs › | $86.58B | 0.50% | N/A | N/A | N/A |
| Phillips 66 (PSX)vs › | $83.32B | 0.31% | N/A | N/A | N/A |
| Enterprise Products Partners L.P. (EPD)vs › | $82.47B | 0.45% | N/A | N/A | N/A |
| Slb N.V. (SLB)vs › | $77.04B | 0.22% | N/A | N/A | N/A |
| Suncor Energy Inc. (SU)vs › | $75.57B | 0.20% | N/A | N/A | N/A |
| EOG Resources, Inc. (EOG)vs › | $74.73B | 0.16% | N/A | N/A | N/A |
| Eni S.p.A. (E)vs › | $73.46B | 0.28% | N/A | N/A | N/A |
Debt/Assets
21.3%
Debt/Equity
0.44
Current Ratio
0.95
Interest Coverage
7.9x
Formula: Debt/Assets = Total Debt / Total Assets × 100
Debt/Assets vs Debt/Equity:
Industry context matters: Capital-intensive industries (utilities, real estate) typically have higher Debt/Assets ratios than tech companies.
Debt/Assets ratio shows what percentage of a company's assets are financed by debt. Compare the current value with the historical chart and peer group to understand leverage over time.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | DEBT TO ASSETS RATIO |
|---|---|
| 2026-03-31 | 21.29% |
| 2025-12-31 | 21.48% |
| 2025-09-30 | 20.18% |
| 2025-06-30 | 20.03% |
| 2025-03-31 | 20.55% |
| 2024-12-31 | 23.76% |
| 2024-09-30 | 13.36% |
| 2024-06-30 | 13.36% |
| 2024-03-31 | 14.53% |
| 2023-12-31 | 14.22% |
| 2023-09-30 | 17.20% |
| 2023-06-30 | 18.20% |
| 2023-03-31 | 15.98% |
| 2022-12-31 | 17.05% |
| 2022-09-30 | 16.71% |
| 2022-06-30 | 16.12% |
| 2022-03-31 | 17.83% |
| 2021-12-31 | 21.23% |
| 2021-09-30 | 22.28% |
| 2021-06-30 | 24.43% |
| 2021-03-31 | 26.63% |
| 2020-12-31 | 30.74% |
| 2020-09-30 | 29.67% |
| 2020-06-30 | 30.80% |
| 2020-03-31 | 29.82% |
| 2019-12-31 | 28.22% |
| 2019-09-30 | 28.64% |
| 2019-06-30 | 29.77% |
| 2019-03-31 | 28.38% |
| 2018-12-31 | 28.82% |
| 2018-09-30 | 26.90% |
| 2018-06-30 | 29.04% |
| 2018-03-31 | 30.02% |
| 2017-12-31 | 30.40% |
| 2017-09-30 | 31.40% |
| 2017-06-30 | 32.15% |
| 2017-03-31 | 28.14% |
| 2016-12-31 | 28.65% |
| 2016-09-30 | 29.83% |
| 2016-06-30 | 29.62% |
| 2016-03-31 | 28.38% |
| 2015-12-31 | 28.33% |
| 2015-09-30 | 27.23% |
| 2015-06-30 | 26.40% |
| 2015-03-31 | 25.85% |
| 2014-12-31 | 23.26% |
| 2014-09-30 | 23.19% |
| 2014-06-30 | 23.17% |
| 2014-03-31 | 19.44% |
| 2013-12-31 | 18.67% |
| 2013-09-30 | 18.27% |
| 2013-06-30 | 19.75% |
| 2013-03-31 | 18.70% |
| 2012-12-31 | 17.84% |
| 2012-09-30 | 17.58% |
| 2012-06-30 | 17.91% |
| 2012-03-31 | 17.49% |
| 2011-12-31 | 18.13% |
| 2011-09-30 | 20.51% |
| 2011-06-30 | 19.31% |
| 2011-03-31 | 19.32% |
| 2010-12-31 | 21.60% |
| 2010-09-30 | 20.75% |
| 2010-06-30 | 22.53% |
| 2010-03-31 | 22.50% |
| 2009-12-31 | 25.11% |
| 2009-09-30 | 26.73% |
| 2009-06-30 | 28.70% |
| 2009-03-31 | 30.30% |
| 2008-12-31 | 30.52% |
| 2008-09-30 | 29.21% |
| 2008-06-30 | 27.69% |
| 2008-03-31 | 34.27% |
| 2007-12-31 | 30.29% |
| 2007-09-30 | 30.29% |
| 2007-06-30 | 31.64% |
| 2007-03-31 | 32.95% |
| 2006-12-31 | 33.30% |
| 2006-09-30 | 21.83% |
| 2006-06-30 | 20.48% |
| 2006-03-31 | 18.52% |
| 2005-12-31 | 15.20% |
| 2005-09-30 | 16.37% |
| 2005-06-30 | 19.41% |
| 2005-03-31 | 20.41% |
| 2004-12-31 | 20.28% |
| 2004-09-30 | 22.50% |
| 2004-06-30 | 21.83% |
| 2004-03-31 | 20.20% |
| 2003-12-31 | 19.32% |
| 2003-09-30 | 21.27% |
| 2003-06-30 | 22.66% |
| 2003-03-31 | 25.21% |
| 2002-12-31 | 30.68% |
| 2002-09-30 | 31.75% |
| 2002-06-30 | 26.38% |
