Canadian Natural Resources (CNQ) Interest Coverage Ratio: History & Chart

Canadian Natural Resources Limited(CNQ)

Oil & Gas Exploration & Production · Calgary, AB

$50.80-0.55 (-1.07%)

Delayed quote: Sep 10, 2026, 4:00 PM EDT

About Canadian Natural Resources Limited

Canadian Natural Resources Limited (CNQ) is an integrated energy enterprise engaged across the full spectrum of upstream and downstream activities related to crude oil, natural gas, and natural gas liquids (NGLs), encompassing acquisition, exploration, development, production, marketing, and sales. Its diverse portfolio of hydrocarbon products encompasses synthetic crude oil (SCO), light and medium crude, bitumen (also known as thermal oil), along with both primary heavy crude oil and specialized Pelican Lake heavy crude. Beyond exploration and production, the company holds midstream and refining assets, notably comprising two crude oil pipeline networks and a half-interest (50% working interest) in an 84-megawatt cogeneration facility situated at Primrose. As of December 31, 2020, CNQ reported substantial reserves. Its proved crude oil, bitumen, and NGLs reserves amounted to 10,528 million barrels (MMbbl), escalating to 13,271 MMbbl when probable reserves are included. Proved synthetic crude oil (SCO) reserves stood at 6,998 MMbbl, with total proved plus probable SCO reserves reaching 7,535 MMbbl. Furthermore, the company's proved natural gas reserves were recorded at 12,168 billion cubic feet (Bcf), expanding to 20,249 Bcf on a proved plus probable basis. Geographically, its operations are concentrated in key regions, including Western Canada, the United Kingdom's North Sea sector, and offshore West Africa. The entity, incorporated in 1973, was originally known as AEX Minerals Corporation before adopting the name Canadian Natural Resources Limited in December 1975. Its corporate headquarters are located in Calgary, Canada.

Calgary, AB

10,750 employees

www.cnrl.com

Energy / Oil & Gas Exploration & Production

Sector: Energy
Industry: Oil & Gas Exploration & Production
CEO: Norman Murray Edwards

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CNQ Interest Coverage Ratio Metrics

INTEREST COVERAGE RATIO

7.92x

INTEREST COVERAGE RATIO AVG TTM

19.65x

INTEREST COVERAGE RATIO AVG 3Y

14.96x

INTEREST COVERAGE RATIO AVG 5Y

18.80x

INTEREST COVERAGE RATIO AVG 10Y

11.28x

INTEREST COVERAGE RATIO AVG 15Y

10.13x

INTEREST COVERAGE RATIO AVG 20Y

10.31x

CURRENT VS TTM AVG

-59.70%

CURRENT VS 3Y AVG

-47.05%

CURRENT VS 5Y AVG

-57.87%

CURRENT VS 10Y AVG

-29.81%

CURRENT VS 15Y AVG

-21.80%

CURRENT VS 20Y AVG

-23.17%

SECTOR MEDIAN · ENERGY

6.56x

median of 48 covered companies

CURRENT VS SECTOR MEDIAN

+20.64%

vs the sector median at left

NAME	MARKET CAP	INTEREST COVERAGE RATIO	TTM	3Y	5Y
Canadian Natural Resources Limited (CNQ)	$105.95B	7.92x	19.65x	14.96x	18.80x
Phillips 66 (PSX)vs ›	$103.65B	3.39x	2.98x	7.86x	6.71x
Valero Energy Corporation (VLO)vs ›	$110.98B	7.76x	7.25x	15.62x	13.20x
Marathon Petroleum Corporation (MPC)vs ›	$114.56B	4.08x	3.99x	8.36x	7.35x
The Williams Companies, Inc. (WMB)vs ›	$89.07B	3.05x	2.75x	2.91x	2.62x
Enterprise Products Partners L.P. (EPD)vs ›	$85.09B	4.90x	5.15x	5.33x	5.00x
Slb N.V. (SLB)vs ›	$83.13B	9.80x	11.08x	10.39x	8.27x
Eni S.p.A. (E)vs ›	$81.74B	0.55x	4.25x	10.14x	9.27x
Suncor Energy Inc. (SU)vs ›	$81.39B	20.86x	22.36x	22.66x	17.91x
EOG Resources, Inc. (EOG)vs ›	$78.54B	36.05x	47.31x	53.80x	49.89x

NAME

MARKET CAP

INTEREST COVERAGE RATIO

TTM

Canadian Natural Resources Limited (CNQ)

$105.95B

7.92x

19.65x

14.96x

18.80x

Phillips 66 (PSX)vs ›

$103.65B

3.39x

2.98x

7.86x

6.71x

Valero Energy Corporation (VLO)vs ›

$110.98B

7.76x

7.25x

15.62x

13.20x

Marathon Petroleum Corporation (MPC)vs ›

$114.56B

4.08x

3.99x

8.36x

7.35x

The Williams Companies, Inc. (WMB)vs ›

$89.07B

3.05x

2.75x

2.91x

2.62x

Enterprise Products Partners L.P. (EPD)vs ›

$85.09B

4.90x

5.15x

5.33x

5.00x

Slb N.V. (SLB)vs ›

$83.13B

9.80x

11.08x

10.39x

8.27x

Eni S.p.A. (E)vs ›

$81.74B

0.55x

4.25x

10.14x

9.27x

Suncor Energy Inc. (SU)vs ›

$81.39B

20.86x

22.36x

22.66x

17.91x

EOG Resources, Inc. (EOG)vs ›

$78.54B

36.05x

47.31x

53.80x

49.89x

Interest Coverage Ratio FAQ

What is the interest coverage ratio for Canadian Natural Resources Limited (CNQ)?

The interest coverage ratio for CNQ stock is 7.92x.

Is Canadian Natural Resources Limited's interest coverage ratio high or low?

The interest coverage ratio of 7.92x is 58% below its 5-year average of 18.80x, near the low end of its 5-year range (7.32x–57.26x).

What is the TTM average interest coverage ratio for Canadian Natural Resources Limited (CNQ)?

The TTM average interest coverage ratio for CNQ stock is 19.65x.

What is the 3Y average interest coverage ratio for Canadian Natural Resources Limited (CNQ)?

The 3Y average interest coverage ratio for CNQ stock is 14.96x.

What is the 5Y average interest coverage ratio for Canadian Natural Resources Limited (CNQ)?

The 5Y average interest coverage ratio for CNQ stock is 18.80x.

What is the 10Y average interest coverage ratio for Canadian Natural Resources Limited (CNQ)?

The 10Y average interest coverage ratio for CNQ stock is 11.28x.

What is the 15Y average interest coverage ratio for Canadian Natural Resources Limited (CNQ)?

The 15Y average interest coverage ratio for CNQ stock is 10.13x.

What is the 20Y average interest coverage ratio for Canadian Natural Resources Limited (CNQ)?

The 20Y average interest coverage ratio for CNQ stock is 10.31x.

DATE	INTEREST COVERAGE RATIO
2026-06-30	26.68x
2026-03-31	8.40x
2025-12-31	7.32x
2025-09-30	47.20x
2025-06-30	8.66x
2025-03-31	12.74x
2024-12-31	11.61x
2024-09-30	18.34x
2024-06-30	16.20x
2024-03-31	12.70x
2023-12-31	24.10x
2023-06-30	17.75x
2023-03-31	25.71x
2022-12-31	57.26x
2022-09-30	30.13x
2022-06-30	31.46x
2022-03-31	24.94x
2021-12-31	20.30x
2021-09-30	24.10x
2021-06-30	17.21x
2021-03-31	16.73x
2020-12-31	0.98x
2020-09-30	2.07x
2020-06-30	-4.33x
2020-03-31	6.16x
2019-12-31	11.89x
2019-09-30	7.65x
2019-06-30	8.14x
2019-03-31	6.49x
2018-12-31	-0.59x
2018-09-30	10.77x
2018-06-30	8.53x
2018-03-31	7.35x
2017-12-31	4.41x
2017-09-30	2.75x
2017-06-30	4.39x
2017-03-31	3.35x
2016-12-31	3.44x
2016-09-30	-5.68x
2016-06-30	-4.09x
2016-03-31	-8.83x
2015-12-31	-7.74x
2015-09-30	-0.23x
2015-06-30	3.07x
2015-03-31	-4.88x
2014-12-31	9.70x
2014-09-30	18.46x
2014-06-30	16.54x
2014-03-31	15.66x
2013-12-31	9.97x
2013-09-30	20.00x
2013-06-30	9.78x
2013-03-31	5.60x
2012-12-31	6.68x
2012-09-30	6.26x
2012-06-30	10.98x
2012-03-31	8.74x
2011-12-31	15.87x
2011-09-30	12.05x
2011-06-30	10.95x
2011-03-31	4.83x
2010-12-31	-2.77x
2010-09-30	8.63x
2010-06-30	9.42x
2010-03-31	13.07x
2009-12-31	7.12x
2009-09-30	8.44x
2009-06-30	1.96x
2009-03-31	7.82x
2008-12-31	35.68x
2008-09-30	83.67x
2008-06-30	61.33x
2008-03-31	22.75x
2007-12-31	-8.88x
2007-09-30	14.31x
2007-06-30	11.65x
2006-12-31	11.51x
2006-09-30	54.27x
2006-06-30	29.92x
2006-03-31	31.90x
2005-12-31	45.98x
2005-06-30	15.55x
2005-03-31	12.47x
2004-12-31	12.29x
2004-06-30	14.56x
2004-03-31	12.33x
2003-12-31	9.73x
2003-09-30	11.08x
2002-12-31	7.85x
2002-09-30	6.13x

DATE

INTEREST COVERAGE RATIO

2026-06-30

26.68x

2026-03-31

8.40x

2025-12-31

7.32x

2025-09-30

47.20x

2025-06-30

8.66x

2025-03-31

12.74x

2024-12-31

11.61x

2024-09-30

18.34x

2024-06-30

16.20x

2024-03-31

12.70x

2023-12-31

24.10x

2023-06-30

17.75x

2023-03-31

25.71x

2022-12-31

57.26x

2022-09-30

30.13x

2022-06-30

31.46x

2022-03-31

24.94x

2021-12-31

20.30x

2021-09-30

24.10x

2021-06-30

17.21x

2021-03-31

16.73x

2020-12-31

0.98x

2020-09-30

2.07x

2020-06-30

-4.33x

2020-03-31

6.16x

2019-12-31

11.89x

2019-09-30

7.65x

2019-06-30

8.14x

2019-03-31

6.49x

2018-12-31

-0.59x

2018-09-30

10.77x

2018-06-30

8.53x

2018-03-31

7.35x

2017-12-31

4.41x

2017-09-30

2.75x

2017-06-30

4.39x

2017-03-31

3.35x

2016-12-31

3.44x

2016-09-30

-5.68x

2016-06-30

-4.09x

2016-03-31

-8.83x

2015-12-31

-7.74x

2015-09-30

-0.23x

2015-06-30

3.07x

2015-03-31

-4.88x

2014-12-31

9.70x

2014-09-30

18.46x

2014-06-30

16.54x

2014-03-31

15.66x

2013-12-31

9.97x

2013-09-30

20.00x

2013-06-30

9.78x

2013-03-31

5.60x

2012-12-31

6.68x

2012-09-30

6.26x

2012-06-30

10.98x

2012-03-31

8.74x

2011-12-31

15.87x

2011-09-30

12.05x

2011-06-30

10.95x

2011-03-31

4.83x

2010-12-31

-2.77x

2010-09-30

8.63x

2010-06-30

9.42x

2010-03-31

13.07x

2009-12-31

7.12x

2009-09-30

8.44x

2009-06-30

1.96x

2009-03-31

7.82x

2008-12-31

35.68x

2008-09-30

83.67x

2008-06-30

61.33x

2008-03-31

22.75x

2007-12-31

-8.88x

2007-09-30

14.31x

2007-06-30

11.65x

2006-12-31

11.51x

2006-09-30

54.27x

2006-06-30

29.92x

2006-03-31

31.90x

2005-12-31

45.98x

2005-06-30

15.55x

2005-03-31

12.47x

2004-12-31

12.29x

2004-06-30

14.56x

2004-03-31

12.33x

2003-12-31

9.73x

2003-09-30

11.08x

2002-12-31

7.85x

2002-09-30

6.13x

Interest Coverage Ratio: 7.92x

CNQ Interest Coverage Ratio

CNQ Average Interest Coverage Ratio Chart

CNQ Current vs Average Interest Coverage Ratio Chart

CNQ Interest Coverage Ratio Metrics

CNQ Competitors' Interest Coverage Ratio

Financial Health Indicators

Interest Coverage Ratio Formula & Definition

Interest Coverage Ratio FAQ

CNQ Interest Coverage Ratio History

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