Canadian Natural Resources (TSX:CNQ) ROCE % : 18.33% (As of Dec. 2023)

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What is Canadian Natural Resources ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Canadian Natural Resources's annualized ROCE % for the quarter that ended in Dec. 2023 was 18.33%.

Canadian Natural Resources ROCE % Historical Data

The historical data trend for Canadian Natural Resources's ROCE % 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 ROCE % Chart

Canadian Natural Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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8.49

-0.06

15.28

21.02

15.96

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
ROCE %	Get a 7-Day Free Trial															8.99	14.44	11.61	19.81	18.33

Canadian Natural Resources ROCE % Calculation

Canadian Natural Resources's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	10856	/	( ( (76142 - 8651)	+	(75955 - 7435) )	/ 2 )
	=	10856	/	( (67491	+	68520)	/ 2 )
	=	10856	/	68005.5
	=	15.96 %

Canadian Natural Resources's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	12520	/	( ( (76313 - 8251)	+	(75955 - 7435) )	/ 2 )
	=	12520	/	( ( 68062	+	68520 )	/ 2 )
	=	12520	/	68291
	=	18.33 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Canadian Natural Resources (TSX:CNQ) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Canadian Natural Resources ROCE % Related Terms

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Canadian Natural Resources (TSX:CNQ) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

CNQ:USA CRC:Germany CRC:Germany

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.

Executives