TSX:CNQ Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	38,621	35,656	35,968	42,298	30,057	16,893
Revenue Growth (YoY)	8.06%	-0.87%	-14.96%	40.73%	77.93%	-26.14%
Cost of Revenue	19,755	18,077	17,782	18,685	13,756	10,778
Gross Profit	18,866	17,579	18,186	23,613	16,301	6,115
Selling, General & Admin	582	503	452	415	366	391
Other Operating Expenses	525	396	390	246	214	198
Operating Expenses	9,995	7,859	7,746	8,818	6,818	6,553
Operating Income	8,871	9,720	10,440	14,795	9,483	-438
Interest Expense	-965	-673	-691	-670	-743	-828
Interest & Investment Income	234	81	55	121	32	72
Earnings From Equity Investments	-	-	-	-	400	-
Currency Exchange Gain (Loss)	-241	-1,125	305	-738	120	275
EBT Excluding Unusual Items	7,899	8,003	10,109	13,508	9,292	-919
Gain (Loss) on Sale of Investments	-	56	56	196	141	-171
Other Unusual Items	80	-	-	-	478	217
Pretax Income	7,979	8,059	10,165	13,704	9,911	-873
Income Tax Expense	1,324	1,953	1,932	2,767	2,247	-438
Net Income	6,655	6,106	8,233	10,937	7,664	-435
Net Income to Common	6,655	6,106	8,233	10,937	7,664	-435
Net Income Growth	-12.38%	-25.84%	-24.72%	42.71%	-	-
Shares Outstanding (Basic)	2,097	2,126	2,183	2,270	2,363	2,364
Shares Outstanding (Diluted)	2,106	2,140	2,204	2,298	2,373	2,364
Shares Change (YoY)	-2.31%	-2.90%	-4.09%	-3.15%	0.40%	-0.95%
EPS (Basic)	3.17	2.87	3.77	4.82	3.24	-0.18
EPS (Diluted)	3.17	2.85	3.74	4.76	3.23	-0.18
EPS Growth	-10.30%	-23.80%	-21.43%	47.37%	-	-
Free Cash Flow	8,128	8,003	7,444	14,255	9,985	2,154
Free Cash Flow Per Share	3.86	3.74	3.38	6.20	4.21	0.91
Dividend Per Share	2.325	2.138	1.850	1.550	0.999	0.850
Dividend Growth	12.05%	15.54%	19.36%	55.19%	17.51%	13.33%
Gross Margin	48.85%	49.30%	50.56%	55.83%	54.23%	36.20%
Operating Margin	22.97%	27.26%	29.03%	34.98%	31.55%	-2.59%
Profit Margin	17.23%	17.13%	22.89%	25.86%	25.50%	-2.57%
Free Cash Flow Margin	21.05%	22.45%	20.70%	33.70%	33.22%	12.75%
EBITDA	16,028	16,328	16,510	20,809	15,392	5,813
EBITDA Margin	41.50%	45.79%	45.90%	49.20%	51.21%	34.41%
D&A For EBITDA	7,157	6,608	6,070	6,014	5,909	6,251
EBIT	8,871	9,720	10,440	14,795	9,483	-438
EBIT Margin	22.97%	27.26%	29.03%	34.98%	31.55%	-2.59%
Effective Tax Rate	16.59%	24.23%	19.01%	20.19%	22.67%	-
Revenue as Reported	38,621	35,656	35,968	42,298	30,057	16,893

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.