Canadian Historical Income Statement
| CNQ Stock | CAD 47.02 0.32 0.69% |
Historical analysis of Canadian Natural income statement accounts such as Interest Expense of 725.5 M, Selling General Administrative of 487.3 M or Total Revenue of 37.8 B can show how well Canadian Natural Resources performed in making a profits. Evaluating Canadian Natural income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Canadian Natural's future profits or losses.
Financial Statement Analysis is much more than just reviewing and examining Canadian Natural Res latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Canadian Natural Res is a good buy for the upcoming year.
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About Canadian Income Statement Analysis
Canadian Natural Res Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Canadian Natural shareholders. The income statement also shows Canadian investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).
Canadian Natural Income Statement Chart
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Total Revenue
Total revenue comprises all receipts Canadian Natural Res generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.Other Operating Expenses
Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Canadian Natural Res. It is also known as Canadian Natural overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.Total Operating Expenses
The total costs associated with the day-to-day operations of a business, excluding the cost of goods sold but including selling, general, and administrative expenses.Most accounts from Canadian Natural's income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Canadian Natural Res current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Natural Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. At this time, Canadian Natural's EBITDA is very stable compared to the past year. As of the 27th of November 2024, Cost Of Revenue is likely to grow to about 25.8 B, while Depreciation And Amortization is likely to drop about 3.4 B.
| 2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 711M | 549M | 691M | 725.6M | Depreciation And Amortization | 5.9B | 7.6B | 6.4B | 3.4B |
Canadian Natural income statement Correlations
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Canadian Natural Account Relationship Matchups
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High Negative Relationship
Canadian Natural income statement Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Depreciation And Amortization | 5.7B | 6.3B | 5.9B | 7.6B | 6.4B | 3.4B | |
| Interest Expense | 836M | 756M | 711M | 549M | 691M | 725.6M | |
| Selling General Administrative | 567M | 309M | 880M | 1.2B | 452M | 487.3M | |
| Total Revenue | 24.4B | 17.5B | 32.9B | 49.5B | 36.0B | 37.8B | |
| Gross Profit | 6.3B | 69M | 10.6B | 16.3B | 11.4B | 12.0B | |
| Other Operating Expenses | 18.8B | 17.9B | 23.3B | 34.8B | 18.7B | 10.7B | |
| Operating Income | 5.6B | (445M) | 9.5B | 14.8B | 17.2B | 18.1B | |
| Ebit | 5.5B | (117M) | 10.3B | 14.4B | 10.9B | 11.4B | |
| Ebitda | 11.3B | 6.1B | 16.2B | 22.0B | 17.3B | 18.1B | |
| Cost Of Revenue | 18.0B | 17.4B | 22.3B | 33.3B | 24.6B | 25.8B | |
| Total Operating Expenses | 757M | 514M | 1.1B | 1.5B | 943M | 1.6B | |
| Income Before Tax | 5.0B | (873M) | 9.9B | 13.7B | 10.2B | 10.7B | |
| Total Other Income Expense Net | (636M) | (428M) | 399M | (1.1B) | (7.1B) | (6.7B) | |
| Net Income | 5.4B | (435M) | 7.7B | 10.9B | 8.2B | 8.6B | |
| Income Tax Expense | (460M) | (438M) | 2.2B | 2.8B | 1.9B | 2.0B | |
| Net Income From Continuing Ops | 5.4B | (435M) | 7.7B | 10.9B | 8.2B | 4.2B | |
| Net Income Applicable To Common Shares | 5.4B | (435M) | 7.7B | 10.9B | 12.6B | 13.2B | |
| Tax Provision | (460M) | (438M) | 2.2B | 2.8B | 1.9B | 2.0B | |
| Interest Income | 636M | 645M | 479M | 1.1B | 55M | 52.3M | |
| Net Interest Income | (836M) | (756M) | (711M) | (549M) | (636M) | (667.8M) | |
| Reconciled Depreciation | 5.5B | 6.0B | 5.7B | 7.4B | 6.4B | 6.5B |
Pair Trading with Canadian Natural
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canadian Natural position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Canadian Natural will appreciate offsetting losses from the drop in the long position's value.Moving against Canadian Stock
The ability to find closely correlated positions to Canadian Natural could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Natural when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Canadian Natural - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Canadian Natural Resources to buy it.
The correlation of Canadian Natural is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian Natural moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Natural Res moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canadian Natural can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Natural Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.