Canadian Natural Resources (Canadian Natural Resources) Gross Margin % : 28.91% (As of Dec. 2023)

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What is Canadian Natural Resources Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Canadian Natural Resources's Gross Profit for the three months ended in Dec. 2023 was $2,301 Mil. Canadian Natural Resources's Revenue for the three months ended in Dec. 2023 was $7,960 Mil. Therefore, Canadian Natural Resources's Gross Margin % for the quarter that ended in Dec. 2023 was 28.91%.

The historical rank and industry rank for Canadian Natural Resources's Gross Margin % or its related term are showing as below:

CNQ' s Gross Margin % Range Over the Past 10 Years
Min: -3.64 Med: 24.58 Max: 32.83
Current: 28.83

During the past 13 years, the highest Gross Margin % of Canadian Natural Resources was 32.83%. The lowest was -3.64%. And the median was 24.58%.

CNQ's Gross Margin % is ranked better than
51.68% of 925 companies
in the Oil & Gas industry
Industry Median: 27.87 vs CNQ: 28.83

Canadian Natural Resources had a gross margin of 28.91% for the quarter that ended in Dec. 2023 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for Canadian Natural Resources was 19.20% per year.

Canadian Natural Resources Gross Margin % Historical Data

The historical data trend for Canadian Natural Resources's Gross Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Canadian Natural Resources Gross Margin % Chart

Canadian Natural Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

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26.03

0.39

32.19

32.83

28.83

Canadian Natural Resources Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Margin %	Get a 7-Day Free Trial															14.98	28.42	22.07	34.18	28.91

Competitive Comparison of Canadian Natural Resources's Gross Margin %

For the Oil & Gas E&P subindustry, Canadian Natural Resources's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Canadian Natural Resources's Gross Margin % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Canadian Natural Resources's Gross Margin % distribution charts can be found below:

* The bar in red indicates where Canadian Natural Resources's Gross Margin % falls into.

Canadian Natural Resources Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

Canadian Natural Resources's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )	=	Gross Profit (A: Dec. 2023 )	/	Revenue (A: Dec. 2023 )
	=	8775.3	/	30437.537
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(30437.537 - 21662.194)	/	30437.537
	=	28.83 %

Canadian Natural Resources's Gross Margin for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	2301	/	7959.899
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(7959.899 - 5658.915)	/	7959.899
	=	28.91 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Canadian Natural Resources (NYSE:CNQ) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Canadian Natural Resources had a gross margin of 28.91% for the quarter that ended in Dec. 2023 => Competition eroding margins

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

Canadian Natural Resources Gross Margin % Related Terms

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Canadian Natural Resources (Canadian Natural Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Canadian Natural Resources Ltd (NYSE:CNQ) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

CRC:Germany CRC:Germany CNQ:Canada

Address

855 - 2nd Street South West, Suite 2100, Calgary, AB, CAN, T2P 4J8

Website

https://www.cnrl.com

Canadian Natural Resources Ltd is an independent crude oil and natural gas exploration, development, and production company. The Company's exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea, and Cote d'Ivoire and South Africa in Offshore Africa. The Company's exploration and production activities are conducted in three geographic segments: North America, the North Sea, and Offshore Africa. These activities include the exploration, development, production, and marketing of crude oil, natural gas liquids, and natural gas. The company has two divisions; Oil Sands Mining and Upgrading Midstream and Refining. It derives a majority of its revenue from North America.