Canadian Natural Resources Limited (CNQ) Debt to Equity Ratio: 0.44
Is Canadian Natural Resources Limited’s debt to equity ratio high or low?
Canadian Natural Resources Limited's debt to equity ratio of 0.44 is in line with its 5-year average of 0.45, around the middle of its 5-year range (0.27–0.71).
As of Saturday, June 13, 2026. 7.37% below its 12-month average of 0.47.
CNQ Debt to Equity Ratio Chart
CNQ Average Debt to Equity Ratio Chart
CNQ Current vs Average Debt to Equity Ratio Chart
CNQ Debt to Equity Ratio Metrics
DEBT TO EQUITY RATIO
0.44
DEBT TO EQUITY RATIO AVG TTM
0.47
DEBT TO EQUITY RATIO AVG 3Y
0.39
DEBT TO EQUITY RATIO AVG 5Y
0.45
DEBT TO EQUITY RATIO AVG 10Y
0.54
DEBT TO EQUITY RATIO AVG 15Y
0.50
DEBT TO EQUITY RATIO AVG 20Y
0.55
CURRENT VS TTM AVG
-7.37%
CURRENT VS 3Y AVG
+12.82%
CURRENT VS 5Y AVG
-2.58%
CURRENT VS 10Y AVG
-18.79%
CURRENT VS 15Y AVG
-11.89%
CURRENT VS 20Y AVG
-19.51%
CNQ Competitors' Debt to Equity Ratio
| NAME | MARKET CAP | DEBT TO EQUITY RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Canadian Natural Resources Limited (CNQ) | $94.49B | 0.44 | 0.47 | 0.39 | 0.45 |
| SLB N.V. (SLB) | $83.99B | 0.47 | 0.52 | 0.58 | 0.78 |
| Marathon Petroleum Corporation (MPC) | $76.95B | 1.98 | 1.80 | 1.44 | 1.38 |
| Valero Energy Corporation (VLO) | $76.81B | 0.49 | 0.48 | 0.49 | 0.61 |
| EOG Resources, Inc. (EOG) | $72.78B | 0.28 | 0.23 | 0.21 | 0.24 |
| Phillips 66 (PSX) | $71.95B | 0.79 | 0.76 | 0.68 | 0.72 |
| ONEOK, Inc. (OKE) | $57.07B | 1.46 | 1.68 | 1.70 | 1.91 |
| Occidental Petroleum Corporation (OXY) | $56.24B | 0.66 | 0.73 | 0.71 | 1.05 |
| ConocoPhillips (COP) | $142.52B | 0.36 | 0.38 | 0.38 | 0.41 |
| Venture Global, Inc. (VG) | $31.94B | 5.18 | 7.73 | 9.83 | 7.37 |
Financial Health
Debt/Equity
0.44
Current Ratio
0.95
Canadian Natural Resources Limited Debt to Equity Ratio Formula & Definition
Debt to Equity measures financial leverage by comparing total debt to shareholders' equity.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Canadian Natural Resources Limited Debt to Equity Ratio FAQ
- What is the debt to equity ratio for Canadian Natural Resources Limited (CNQ)?
- The debt to equity ratio for CNQ stock is 0.44.
- Is Canadian Natural Resources Limited's debt to equity ratio high or low?
- Canadian Natural Resources Limited's debt to equity ratio of 0.44 is in line with its 5-year average of 0.45, around the middle of its 5-year range (0.27–0.71).
- What is the TTM average debt to equity ratio for Canadian Natural Resources Limited (CNQ)?
- The TTM average debt to equity ratio for CNQ stock is 0.47.
- What is the 3Y average debt to equity ratio for Canadian Natural Resources Limited (CNQ)?
- The 3Y average debt to equity ratio for CNQ stock is 0.39.
- What is the 5Y average debt to equity ratio for Canadian Natural Resources Limited (CNQ)?
- The 5Y average debt to equity ratio for CNQ stock is 0.45.
- What is the 10Y average debt to equity ratio for Canadian Natural Resources Limited (CNQ)?
- The 10Y average debt to equity ratio for CNQ stock is 0.54.
- What is the 15Y average debt to equity ratio for Canadian Natural Resources Limited (CNQ)?
- The 15Y average debt to equity ratio for CNQ stock is 0.50.
- What is the 20Y average debt to equity ratio for Canadian Natural Resources Limited (CNQ)?
- The 20Y average debt to equity ratio for CNQ stock is 0.55.
Canadian Natural Resources Limited Debt to Equity Ratio History
| DATE | DEBT TO EQUITY RATIO |
|---|---|
| 2025-12-31 | 0.44 |
| 2024-12-31 | 0.51 |
| 2023-12-31 | 0.27 |
| 2022-12-31 | 0.34 |
| 2021-12-31 | 0.44 |
| 2020-12-31 | 0.71 |
| 2019-12-31 | 0.65 |
| 2018-12-31 | 0.64 |
| 2017-12-31 | 0.71 |
| 2016-12-31 | 0.64 |
| 2015-12-31 | 0.61 |
| 2014-12-31 | 0.48 |
| 2013-12-31 | 0.37 |
| 2012-12-31 | 0.36 |
| 2011-12-31 | 0.37 |
| 2010-12-31 | 0.45 |
| 2009-12-31 | 0.53 |
| 2008-12-31 | 0.71 |
| 2007-12-31 | 0.82 |
| 2006-12-31 | 1.03 |
| 2005-12-31 | 0.40 |
| 2004-12-31 | 0.51 |
| 2003-12-31 | 0.46 |
| 2002-12-31 | 0.84 |
| 2001-12-31 | 0.69 |
| 2000-12-31 | 0.77 |
| 1999-12-31 | 1.14 |
| 1998-12-31 | 1.12 |
| 1997-12-31 | 0.94 |
| 1996-12-31 | 0.55 |
Related Metrics
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.
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- CEO
- Norman Murray Edwards