TSX:CNQ Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	38,633	38,762	35,656	35,968	42,298	30,057
Revenue Growth (YoY)	0.73%	8.71%	-0.87%	-14.96%	40.73%	77.93%
Cost of Revenue	19,831	19,977	18,077	17,782	18,685	13,756
Gross Profit	18,802	18,785	17,579	18,186	23,613	16,301
Selling, General & Admin	1,415	795	782	943	1,219	880
Depreciation & Amortization Expenses	9,391	9,384	6,681	6,413	7,353	5,724
Other Operating Expenses	387	380	389	366	281	185
Total Operating Expenses	11,193	10,559	7,852	7,722	8,853	6,789
Operating Income	7,609	8,226	9,727	10,464	14,760	9,512
Interest Expense	-894	-834	-592	-636	-549	-711
Other Non-Operating Income (Expense)	-4,819	-4,289	-1,076	337	-507	1,110
Total Non-Operating Income (Expense)	-5,713	-5,123	-1,668	-299	-1,056	399
Pretax Income	11,874	13,241	8,059	10,165	13,704	9,911
Provision for Income Taxes	2,164	2,421	1,953	1,932	2,767	2,247
Net Income	9,710	10,820	6,106	8,233	10,937	7,664
Net Income to Common	9,710	10,820	6,106	8,233	10,937	7,664
Net Income Growth	28.15%	77.20%	-25.84%	-24.72%	42.71%	-
Shares Outstanding (Basic)	2,087	2,091	2,126	2,183	2,270	2,363
Shares Outstanding (Diluted)	2,095	2,098	2,140	2,204	2,298	2,373
Shares Change (YoY)	-1.56%	-1.99%	-2.90%	-4.09%	-3.15%	0.40%
EPS (Basic)	4.66	5.17	2.87	3.77	4.82	3.25
EPS (Diluted)	4.64	5.16	2.85	3.74	4.76	3.23
EPS Growth	29.97%	81.05%	-23.80%	-21.43%	47.37%	-
Shares Outstanding	2,085	2,082	2,103	2,145	2,205	2,337
Free Cash Flow	6,633	8,430	8,095	7,488	14,288	9,986
Free Cash Flow Growth	-21.32%	4.14%	8.11%	-47.59%	43.08%	362.53%
Free Cash Flow Per Share	3.17	4.02	3.78	3.40	6.22	4.21
Dividends Per Share	2.388	2.350	2.138	1.850	1.550	0.999
Dividend Growth	1.60%	9.94%	15.54%	19.36%	55.19%	17.51%
Gross Margin	48.67%	48.46%	49.30%	50.56%	55.83%	54.23%
Operating Margin	19.70%	21.22%	27.28%	29.09%	34.90%	31.65%
Profit Margin	25.13%	27.91%	17.12%	22.89%	25.86%	25.50%
FCF Margin	17.17%	21.75%	22.70%	20.82%	33.78%	33.22%
EBITDA	17,000	17,610	16,408	16,877	22,113	15,236
EBITDA Margin	44.00%	45.43%	46.02%	46.92%	52.28%	50.69%
EBIT	7,609	8,226	9,727	10,464	14,760	9,512
EBIT Margin	19.70%	21.22%	27.28%	29.09%	34.90%	31.65%
Effective Tax Rate	18.22%	18.28%	24.23%	19.01%	20.19%	22.67%

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.