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	617	615	503	452	415	366
Other Operating Expenses	782	446	396	364	246	214
Operating Expenses	11,588	10,625	7,859	7,720	8,818	6,818
Operating Income	7,214	8,160	9,720	10,466	14,795	9,483
Interest Expense	-1,093	-1,039	-673	-691	-670	-743
Interest & Investment Income	199	205	81	55	121	32
Earnings From Equity Investments	-	-	-	-	-	400
Currency Exchange Gain (Loss)	485	846	-1,125	279	-738	120
EBT Excluding Unusual Items	6,805	8,172	8,003	10,109	13,508	9,292
Gain (Loss) on Sale of Investments	4,972	4,972	56	56	196	141
Other Unusual Items	97	97	-	-	-	478
Pretax Income	11,874	13,241	8,059	10,165	13,704	9,911
Income Tax Expense	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)	4.65	5.17	2.87	3.77	4.82	3.24
EPS (Diluted)	4.63	5.16	2.85	3.74	4.76	3.23
EPS Growth	30.08%	81.05%	-23.80%	-21.43%	47.37%	-
Free Cash Flow	6,438	8,315	8,003	7,444	14,255	9,985
Free Cash Flow Per Share	3.07	3.96	3.74	3.38	6.20	4.21
Dividend Per Share	2.388	2.350	2.138	1.850	1.550	0.999
Dividend Growth	8.52%	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	18.67%	21.05%	27.26%	29.10%	34.98%	31.55%
Profit Margin	25.13%	27.91%	17.13%	22.89%	25.86%	25.50%
Free Cash Flow Margin	16.66%	21.45%	22.45%	20.70%	33.70%	33.22%
EBITDA	14,796	15,831	16,328	16,809	20,809	15,392
EBITDA Margin	38.30%	40.84%	45.79%	46.73%	49.20%	51.21%
D&A For EBITDA	7,582	7,671	6,608	6,343	6,014	5,909
EBIT	7,214	8,160	9,720	10,466	14,795	9,483
EBIT Margin	18.67%	21.05%	27.26%	29.10%	34.98%	31.55%
Effective Tax Rate	18.22%	18.28%	24.23%	19.01%	20.19%	22.67%
Revenue as Reported	38,633	38,762	35,656	35,968	42,298	30,057