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Cenovus Energy Inc

CVE Energy Oil & Gas Integrated

Cenovus Energy Inc’s revenue for fiscal 2025 (year ended December 2025) was $35.6 billion, down 10.2% from fiscal 2024.

Revenue
+41.3%
EPS
+226.5%
Free cash flow
+18,996.5%
Total debt
+14.0%

Quarter to June 2026, against a year earlier

32.73 0.60 +1.87%
Market cap
$58.4B
P/E
12.6×
Fwd P/E
7.9×
Dividend yield
1.85%
F-score
7/9
Altman Z
2.20
Beneish M
−2.51
Dividend safety
66/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 31.19%

Capital & Financial Ratios $m

Size
Market Cap 58,360.00
Revenue ttm 38,993.17
Net income ttm 4,783.38
Free cash flow ttm 8,867.85
Net debt Q 3,891.75
Valuation
P/E 12.58
Forward P/E 7.91
Price / sales 1.57
Forward P/S Powerpack
Price / FCF 0.00
Price / book 2.47
Financial health
Current ratio Q 1.63 (at or above 1.5: strong)
Debt / equity Q 0.25 (at or below 0.5: strong)
Interest coverage Q 22.72
Growth
Revenue growth Q +41.33% (above 0%: growing)
Operating income growth Q +253.01% (above 0%: growing)
EPS, this year +150.01% (at or above 15%: strong)
EPS, next year A −10.17% (below 0%: weak)
Revenue, next year A +28.78% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +25.57% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.7×, against a ten-year median of 1.1×; over the ten years it ranged from 0.6× in 2020 to 1.9× in 2021.
P/E against its own 10 years 56.22%
10-year low 10-year high
P/S against its own 10 years 99.01%
10-year low 10-year high
P/B against its own 10 years 99.12%
10-year low 10-year high
EV/Sales against its own 10 years 91.55%
10-year low 10-year high

Dividends raised 5 years running

Yield
1.85%
Annual rate
0.61
Payout ratio
23.4%
Growth, 2016–25
+15.6%/yr
  1. 0.15 ’16
  2. 0.15 ’17 +1%
  3. 0.15 ’18 −1%
  4. 0.16 ’19 +5%
  5. 0.05 ’20 −72%
  6. 0.07 ’21 +53%
  7. 0.27 ’22 +283%
  8. 0.39 ’23 +46%
  9. 0.49 ’24 +27%
  10. 0.56 ’25 +14%
  11. 0.62 ’26e +11%
paid forecast Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,650 2,257 1,961 2,290
Receivables 2,557 2,076 2,720 3,212
Inventory 2,985 3,281 2,397 3,149
Other — — — —
7,192 7,615 7,078 8,650
2023 2024 2025 Q'26
Payables 4,060 4,555 4,185 4,348
ST’ Debt 133 266 — —
Other 121 — — —
4,600 5,373 4,519 5,312

Compound Annual Growth %

10y 5y 3y
Sales 13.27% 29.21% (11.58%)
Cash Flow 17.70% 95.96% (12.44%)
Earnings 19.20% 0.00% (17.18%)
Book Value 8.84% 12.67% 2.19%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 1.11 Actual 1.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.40 0.52 Beat by 0.12
Dec 2025 0.28 0.36 Beat by 0.08
Mar 2026 0.56 0.61 Beat by 0.05
Jun 2026 1.11 1.11 Met by 0.00
Sep 2026 1.21 — Reports 4 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.61 1.11 — — —
’25 0.32 0.33 0.52 0.36 1.54
’24 0.46 0.39 0.31 0.05 1.22
’23 0.24 0.33 0.72 0.29 1.57
’22 0.62 0.93 0.62 0.29 2.46
’21 0.08 0.09 0.21 (0.16) 0.22
’20 (1.09) (0.14) (0.12) (0.10) (1.45)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 9,006 12,588 — — —
’25 9,261 8,907 9,578 7,821 35,567
’24 9,931 10,876 10,445 8,359 39,611
’23 9,064 9,097 10,864 9,647 38,673
’22 12,790 15,008 13,386 10,273 51,457
’21 7,227 8,612 10,087 11,063 36,988
’20 2,959 1,569 2,747 2,600 9,874
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,590 4,056 — — —
’25 916 1,751 1,558 1,664 5,889
’24 1,427 2,031 1,824 1,458 6,740
’23 (211) 1,479 2,043 2,162 5,473
’22 1,078 2,324 3,060 2,310 8,771
’21 180 1,120 1,667 1,756 4,723
’20 93 (605) 529 187 204
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,590 4,056 — — —
’25 916 21 1,558 (1,848) 2,377
’24 1,427 2,031 1,824 (2,202) 3,080
’23 (1,025) 728 1,276 2,162 5,473
’22 489 1,684 2,423 1,323 5,919
’21 (252) 672 1,174 1,083 2,678
’20 (138) (703) 401 2 (437)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 9,164 13,147 16,081 15,208 9,874 36,988 51,457 38,673 39,611 35,567 38,993 +16.3% 45,804 41,947 39,042 +3.2%
Gross margin, % 42.39 52.86 58.05 58.24 61.30 49.35 49.47 52.66 32.49 34.22 40.68 (8.2) pt
EBT (700) 1,709 (3,029) 1,053 (2,411) 1,049 6,716 3,734 2,971 3,204 6,049 n/m
EBT margin, % (7.64) 13.00 (18.84) 6.92 (24.42) 2.84 13.05 9.65 7.50 9.01 15.51 +16.7 pt
Net income (412) 2,597 (2,059) 1,653 (1,776) 468 4,961 3,044 2,293 2,813 4,783 n/m
Per share, $
Per share, $ Revenue 11.00 11.92 13.09 12.38 8.03 18.35 26.37 20.40 21.41 19.65 20.96 +6.7%
Earnings (0.49) 2.35 (1.68) 1.34 (1.45) 0.22 2.53 1.59 1.23 1.55 2.61 n/m
Cash flow 0.78 2.14 1.35 2.01 0.17 2.34 4.50 2.89 3.64 3.25 4.77 +17.2%
Capex (0.94) (1.17) (0.86) (0.73) (0.52) (1.01) (1.46) 0.00 (1.98) (1.94) 0.00 +8.4%
Free cash flow (0.16) 0.97 0.49 1.29 (0.36) 1.33 3.03 2.89 1.66 1.31 4.77 n/m
Book value 10.50 13.98 10.97 11.78 10.15 9.34 10.88 11.22 11.74 12.51 13.29 +2.0%
Shares, m 833 1,103 1,229 1,229 1,229 2,016 1,951 1,895 1,850 1,810 1,833 +9.0%
Valuation, ×
Valuation, × P/E 0.00 4.25 0.00 7.57 0.00 55.82 7.21 10.36 12.22 10.85 12.58 10.8
P/S 1.39 0.82 0.54 0.82 0.75 0.67 0.69 0.81 0.71 0.86 1.57 0.8
P/B 1.45 0.70 0.64 0.86 0.60 1.34 1.71 1.50 1.31 1.36 2.47 1.1
EV/Sales 1.60 1.39 0.94 1.15 1.29 0.88 0.76 0.91 0.79 1.04 1.67 1.1
EV/FCF (112.24) 17.05 25.20 11.07 (29.23) 12.10 6.57 16.33 41.95 (9.75) (81.47) (2.1)
Cash, $m
Cash, $m Operating cash flow 650 2,360 1,662 2,476 204 4,723 8,771 5,473 6,740 5,889 8,868 +27.7%
Capex (781) (1,288) (1,062) (892) (641) (2,045) (2,852) — (3,660) (3,512) (9,669) +18.2%
Free cash flow (131) 1,071 599 1,584 (437) 2,678 5,919 5,473 3,080 2,377 8,868 n/m
Balance, $m
Balance, $m Working capital 3,135 441 459 575 461 3,737 3,391 2,591 2,242 2,559 3,338 (2.2%)
Net debt 1,973 6,868 6,467 5,059 5,363 7,653 3,294 3,748 3,367 5,935 3,892 +13.0%
Shareholders’ equity 8,753 15,413 13,477 14,470 12,472 18,837 21,221 21,270 21,725 22,643 24,713 +11.1%
Returns, %
Returns, % ROA (2.10) 10.25 (7.01) 6.12 (6.91) 1.30 11.46 7.28 5.58 6.47 11.01 +8.6 pt
ROIC (2.14) 0.35 (6.38) 4.96 (7.20) 6.10 17.99 10.56 8.57 8.18 14.54 +10.3 pt
ROE (4.46) 21.49 (14.26) 11.83 (13.18) 2.86 25.15 14.47 10.70 12.73 20.96 +17.2 pt
People
People Employees 2,775 2,882 2,264 2,361 2,413 2,413 5,998 6,925 7,150 7,211 — +11.2%
Revenue/emp, $m 3.30 4.56 7.10 6.44 4.09 15.33 8.58 5.58 5.54 4.93 — +4.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Cenovus Energy Inc vs peers in Oil & Gas Integrated (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TTE TotalEnergies SE Sponsored ADR $209.1B 11.8× 8.0× +27.80% (above 0%: growing) +106.78% (above 0%: growing) +464.21% (above 0%: growing) 32.91% 13.37% Compare
BP BP p.l.c. $129.7B 24.0× 7.7× +47.06% (above 0%: growing) +140.32% (above 0%: growing) +144.15% (above 0%: growing) 27.64% 12.75% Compare
EQNR Equinor ASA $113.8B 13.3× 8.3× +39.90% (above 0%: growing) +298.00% (above 0%: growing) +1,548.80% (above 0%: growing) 54.71% 36.94% Compare
E Eni SpA $87.7B 14.9× 8.8× +21.42% (above 0%: growing) +616.67% (above 0%: growing) +43.60% (above 0%: growing) 21.45% 5.19% Compare
PBR Petroleo Brasileiro S.A.- Petrobras $81.5B 5.6× — +59.75% (above 0%: growing) +118.92% (above 0%: growing) +149.36% (above 0%: growing) 58.00% 42.41% Compare
CVE Cenovus Energy Inc $58.4B 12.6× 7.9× +41.33% (above 0%: growing) +226.47% (above 0%: growing) +18,996.54% (above 0%: growing) 42.35% 23.60%
PBR.A Petroleo Brasileiro S.A.- Petrobras $52.9B 4.9× — +59.75% (above 0%: growing) +118.92% (above 0%: growing) +149.36% (above 0%: growing) 58.00% 42.41% Compare
EC Ecopetrol S.A. $35.5B 13.6× 5.7× +103.23% (above 0%: growing) +22.58% (above 0%: growing) +62.31% (above 0%: growing) 40.10% 31.80% Compare
YPF YPF Sociedad Anonima $18.8B 24.7× — +41.65% (above 0%: growing) +2,546.55% (above 0%: growing) +922.15% (above 0%: growing) 45.10% 27.58% Compare
Median of peers $84.6B 13.5× 8.0× +44.36% +129.62% +149.36% 42.60% 29.69%

All 19 Oil & Gas Integrated stocks →

Cenovus Energy Inc (CVE) Latest News

28 Oct

Impact 3 · · GlobeNewswire

23 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

22 Oct

Impact 3 · · Zacks

20 Oct

Impact 3 · · financialpost.com

15 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

14 Oct

Impact 4 · · Zacks

8 Oct

Impact 4 · · Simply Wall St.

7 Oct

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Impact 4 · · Zacks
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6 Oct

Impact 4 · · Zacks
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5 Oct

Impact 4 · · financialpost.com
Impact 4 · · MarketBeat
Impact 4 · · Investing.com
Impact 4 · · Proactive Investors
Impact 4 · · Investing.com
Impact 4 · · MT Newswires
Impact 4 · · Bloomberg
Impact 4 · · GlobeNewswire
Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

3 Oct

Impact 4 · · Simply Wall St.

1 Oct

Impact 3 · · Zacks

29 Sep

Impact 3 ·
Impact 3 · · Zacks
Impact 3 ·

23 Sep

Impact 4 · · Simply Wall St.
stockrow.com/CVE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com