Canadian Natural Resources (Canadian Natural Resources) Days Inventory

: 25.18 (As of Dec. 2023)

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Days Inventory is also known as Days Sales of Inventory (DSI). Canadian Natural Resources's Average Total Inventories for the three months ended in Dec. 2023 was $1,561 Mil. Canadian Natural Resources's Cost of Goods Sold for the three months ended in Dec. 2023 was $5,659 Mil. Hence, Canadian Natural Resources's Days Inventory for the three months ended in Dec. 2023 was 25.18.

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

CNQ' s Days Inventory Range Over the Past 10 Years
Min: 14.97 Med: 19.26 Max: 24.89
Current: 24.89

During the past 13 years, Canadian Natural Resources's highest Days Inventory was 24.89. The lowest was 14.97. And the median was 19.26.

CNQ's Days Inventory is ranked better than
56.93% of 729 companies
in the Oil & Gas industry
Industry Median: 31.63 vs CNQ: 24.89

Canadian Natural Resources's Days Inventory increased from Dec. 2022 (17.96) to Dec. 2023 (25.18). It might indicate that Canadian Natural Resources's sales slowed down.

Inventory Turnover measures how fast the company turns over its inventory within a year. Canadian Natural Resources's Inventory Turnover for the three months ended in Dec. 2023 was 3.62.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Canadian Natural Resources's Inventory-to-Revenue for the three months ended in Dec. 2023 was 0.20.

Canadian Natural Resources Days Inventory Historical Data

The historical data trend for Canadian Natural Resources's Days Inventory 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 Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Days Inventory

21.12

22.84

21.36

18.97

24.03

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
Days Inventory																17.96	25.02	25.35	24.61	25.18

Competitive Comparison

For the Oil & Gas E&P subindustry, Canadian Natural Resources's Days Inventory, along with its competitors' market caps and Days Inventory 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 Days Inventory Distribution

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

* The bar in red indicates where Canadian Natural Resources's Days Inventory falls into.

Canadian Natural Resources Days Inventory Calculation

Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

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

	Days Inventory (A: Dec. 2023 )
=	Average Total Inventories					/	Cost of Goods Sold	*	Days in Period
=	( (Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2023 )	*	Days in Period
=	( (1336.032	+	1516.1)	/	2 )	/	21662.194	*	365
=	1426.066					/	21662.194	*	365
=	24.03

Canadian Natural Resources's Days Inventory for the quarter that ended in Dec. 2023 is calculated as:

	Days Inventory (Q: Dec. 2023 )
=	Average Total Inventories					/	Cost of Goods Sold	*	Days in Period
=	( (Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
=	( (1606.681	+	1516.1)	/	2 )	/	5658.915	*	365 / 4
=	1561.3905					/	5658.915	*	365 / 4
=	25.18

Canadian Natural Resources (NYSE:CNQ) Days Inventory Explanation

Days Inventory indicates the liquidity of the inventory. Generally, a lower Days Inventory is preferred as it indicates a shorter duration to clear off the inventory. An increase of the ratio may indicate the company's sales slowed. Similar ratios related to Days Inventory are:

1. Inventory Turnover measures how fast the company turns over its inventory within a year.

Canadian Natural Resources's Inventory Turnover for the three months ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold	/	Average Total Inventories
	=	5658.915	/	1561.3905
	=	3.62

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Canadian Natural Resources's Inventory to Revenue for the three months ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories	/	Revenue
	=	1561.3905	/	7959.899
	=	0.20

Be Aware

A lot of business are seasonable. It makes more sense to compare Days Inventory from the same period in the previous year instead of from the previous quarter.

Canadian Natural Resources Days Inventory Related Terms

Thank you for viewing the detailed overview of Canadian Natural Resources's Days Inventory provided by GuruFocus.com. Please click on the following links to see related term pages.

Canadian Natural Resources (Canadian Natural Resources) Business Description

Industry

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

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.