Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 21.29% is 41% below its 5-year average of 36.00%, near the low end of its 5-year range (19.99%–57.49%).
34.12% below its 12-month average of 32.32%.
Reported quarterly gross margin; no daily interpolation. Q2 FY2026 (2026-06-30): 37.25%.
GROSS MARGIN
21.29%
GROSS MARGIN AVG TTM
32.32%
GROSS MARGIN AVG 3Y
29.30%
GROSS MARGIN AVG 5Y
36.00%
GROSS MARGIN AVG 10Y
29.46%
GROSS MARGIN AVG 15Y
26.20%
GROSS MARGIN AVG 20Y
32.06%
CURRENT VS TTM AVG
-34.12%
CURRENT VS 3Y AVG
-27.33%
CURRENT VS 5Y AVG
-40.86%
CURRENT VS 10Y AVG
-27.74%
CURRENT VS 15Y AVG
-18.74%
CURRENT VS 20Y AVG
-33.59%
SECTOR MEDIAN · ENERGY
30.57%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
-30.36%
vs the sector median at left
Canadian Natural Resources Limited
Market Cap
$105.95B
Gross Margin
21.29%
TTM Avg
32.32%
3Y Avg
29.30%
5Y Avg
36.00%
Market Cap
$110.98B
Gross Margin
11.33%
TTM Avg
4.02%
3Y Avg
6.61%
5Y Avg
4.66%
Market Cap
$114.56B
Gross Margin
11.62%
TTM Avg
7.12%
3Y Avg
9.52%
5Y Avg
7.42%
Market Cap
$89.07B
Gross Margin
42.86%
TTM Avg
50.78%
3Y Avg
53.52%
5Y Avg
52.60%
Market Cap
$85.09B
Gross Margin
13.25%
TTM Avg
13.23%
3Y Avg
12.88%
5Y Avg
14.52%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Canadian Natural Resources Limited (CNQ) | $105.95B | 21.29% | 32.32% | 29.30% | 36.00% |
| Phillips 66 (PSX)vs › | $103.65B | 9.78% | 4.16% | 5.87% | 4.46% |
| Valero Energy Corporation (VLO)vs › | $110.98B | 11.33% | 4.02% | 6.61% | 4.66% |
| Marathon Petroleum Corporation (MPC)vs › | $114.56B | 11.62% | 7.12% | 9.52% | 7.42% |
| The Williams Companies, Inc. (WMB)vs › | $89.07B | 42.86% | 50.78% | 53.52% | 52.60% |
| Enterprise Products Partners L.P. (EPD)vs › | $85.09B | 13.25% | 13.23% | 12.88% | 14.52% |
| Slb N.V. (SLB)vs › | $83.13B | 16.53% | 19.38% | 19.24% | 17.32% |
| Eni S.p.A. (E)vs › | $81.74B | 9.89% | 11.21% | 14.28% | 13.96% |
| Suncor Energy Inc. (SU)vs › | $81.39B | 54.01% | 58.87% | 59.64% | 59.36% |
| EOG Resources, Inc. (EOG)vs › | $78.54B | 70.20% | 71.91% | 76.49% | 71.49% |
Gross Margin
21.3%
(Revenue - COGS) / Revenue
Gross Margin = Gross Profit / Revenue
Gross margin is the percentage of revenue remaining after the cost of goods sold, reflecting core product profitability.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | GROSS MARGIN |
|---|---|
| 2026-06-30 | 37.25% |
| 2026-03-31 | 32.09% |
| 2025-12-31 | 19.99% |
| 2025-09-30 | 48.39% |
| 2025-06-30 | 23.87% |
| 2025-03-31 | 27.98% |
| 2024-12-31 | 25.84% |
| 2024-09-30 | 28.85% |
| 2024-06-30 | 26.06% |
| 2024-03-31 | 24.09% |
| 2023-12-31 | 28.91% |
| 2023-09-30 | 34.18% |
| 2023-06-30 | 42.45% |
| 2023-03-31 | 47.88% |
| 2022-12-31 | 49.32% |
| 2022-09-30 | 37.32% |
| 2022-06-30 | 37.24% |
| 2022-03-31 | 39.36% |
| 2021-12-31 | 37.35% |
| 2021-09-30 | 57.49% |
| 2021-06-30 | 50.11% |
| 2021-03-31 | 50.23% |
| 2020-12-31 | 8.70% |
| 2020-09-30 | 10.59% |
| 2020-06-30 | -23.78% |
| 2020-03-31 | 30.76% |
| 2019-12-31 | 48.08% |
| 2019-09-30 | 29.15% |
| 2019-06-30 | 29.10% |
| 2019-03-31 | 25.55% |
| 2018-12-31 | -3.05% |
| 2018-09-30 | 31.25% |
| 2018-06-30 | 30.02% |
| 2018-03-31 | 25.02% |
| 2017-12-31 | 18.26% |
| 2017-09-30 | 16.16% |
| 2017-06-30 | 16.45% |
| 2017-03-31 | 15.47% |
| 2016-12-31 | 15.22% |
| 2016-09-30 | -12.88% |
| 2016-06-30 | -3.87% |
| 2016-03-31 | -25.32% |
| 2015-12-31 | -12.59% |
| 2015-09-30 | 0.97% |
| 2015-06-30 | 8.87% |
| 2015-03-31 | -6.48% |
| 2014-12-31 | 16.91% |
| 2014-09-30 | 27.41% |
| 2014-06-30 | 30.28% |
| 2014-03-31 | 27.03% |
| 2013-12-31 | 19.21% |
| 2013-09-30 | 29.73% |
| 2013-06-30 | 18.39% |
| 2013-03-31 | 15.19% |
| 2012-12-31 | 16.68% |
| 2012-09-30 | 20.19% |
| 2012-06-30 | 23.48% |
| 2012-03-31 | 20.07% |
| 2011-12-31 | 54.34% |
| 2011-09-30 | 50.73% |
| 2011-06-30 | 49.24% |
| 2011-03-31 | 44.97% |
| 2010-12-31 | 53.39% |
| 2010-09-30 | 54.21% |
| 2010-06-30 | 53.10% |
| 2010-03-31 | 53.60% |
| 2009-12-31 | 56.16% |
| 2009-09-30 | 54.16% |
| 2009-06-30 | 60.65% |
| 2009-03-31 | 58.87% |
| 2008-12-31 | 53.30% |
| 2008-09-30 | 62.39% |
| 2008-06-30 | 61.14% |
| 2008-03-31 | 61.64% |
| 2007-12-31 | 108.39% |
| 2007-09-30 | 59.51% |
| 2007-06-30 | 58.77% |
| 2007-03-31 | 58.32% |
| 2006-12-31 | 44.84% |
| 2006-09-30 | 61.88% |
| 2006-06-30 | 56.90% |
| 2006-03-31 | 58.34% |
| 2005-12-31 | 69.98% |
| 2005-09-30 | 68.47% |
| 2005-06-30 | 65.17% |
| 2005-03-31 | 64.14% |
| 2004-12-31 | 64.29% |
| 2004-09-30 | 81.91% |
| 2004-06-30 | 65.09% |
| 2004-03-31 | 77.18% |
| 2003-12-31 | 53.76% |
| 2003-09-30 | 77.64% |
| 2003-06-30 | 79.32% |
| 2003-03-31 | 80.03% |
| 2002-12-31 | 62.92% |
| 2002-09-30 | 62.79% |
