The Filing Desk

Canadian Natural Resources vs ConocoPhillips

Canadian Natural Resources CNQ · ConocoPhillips COP · Oil & Gas Exploration & Production

Canadian Natural Resources reported revenue of C$38.8 billion in fiscal 2025, and ConocoPhillips $58.9 billion in fiscal 2025, in different currencies. Canadian Natural Resources' revenue grew 8.7% in its latest year, and ConocoPhillips' grew 7.7%.

Side by side

Canadian Natural ResourcesConocoPhillips
Latest fiscal yearFY2025, Dec 31, 2025FY2025, Dec 31, 2025
RevenueC$38.8B$58.9B
Revenue growth8.7%7.7%
Revenue growth a year, last 5 years18.1%25.7%
Gross margin—62.1%
Operating margin——
Net margin27.9%13.6%
Free cash flow——
Free cash flow margin——
Return on capital19.7%10.7%
Net debt to EBITDA0.7x0.7x
Dividends and buybacksC$6.3B$9.0B
Change in diluted share count−2.0%6.2%
Last close$55.11$151.37
P/E at the last close—20.0×
Insider trades, last 12 months—bought $500,001, sold $145.9 million
Piotroski F-score7 of 85 of 9
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.

Ten years

Revenue
In each company's own currency, fiscal years
Canadian Natural ResourcesConocoPhillips
Operating margin
Percent of revenue
Canadian Natural ResourcesConocoPhillips
Free cash flow
In each company's own currency. Cash from operations minus capital expenditure.
Canadian Natural ResourcesConocoPhillips

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Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Canadian Natural Resources and ConocoPhillips pages.