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. In the quarter to June 2026, revenue grew 41.3%, EPS grew 226.5%, free cash flow grew 18,996.5% and total debt rose 14.0%, each against the same quarter a year earlier.
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Cenovus Energy Inc (CVE) Piotroski F-score
Cenovus Energy Inc's Piotroski F-score for fiscal 2025 is 7 out of 9: 7 of nine tests of profitability, leverage and efficiency passed, up from 5 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 7 | 2.00 |
| FY2024 | 5 | (2.00) |
| FY2023 | 7 | (1.00) |
| FY2022 | 8 | 2.00 |
| FY2021 | 6 | 3.00 |
| FY2020 | 3 | (6.00) |
| FY2019 | 9 | 3.00 |
| FY2018 | 6 | 1.00 |
| FY2017 | 5 | 3.00 |
| FY2016 | 2 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 6.47% | 5.58% | Pass | 1 |
| Positive operating cash flow | 5.89b | 6.74b | Pass | 1 |
| Rising return on assets | 6.47% | 5.58% | Pass | 1 |
| Cash flow above net income | 3.09b | 4.47b | Pass | 1 |
| Falling long-term leverage | 0.18 | 0.13 | Fail | 0 |
| Rising current ratio | 1.57 | 1.42 | Pass | 1 |
| No new shares issued | 1,809,902,000 | 1,850,193,000 | Pass | 1 |
| Rising gross margin | 34.22% | 32.49% | Pass | 1 |
| Rising asset turnover | 0.82 | 0.98 | Fail | 0 |
| Piotroski F-score | Strong — most fundamentals improved | 7 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| CVE Cenovus Energy Inc | 7 |
| BP BP p.l.c. compare | 7 |
| E Eni SpA compare | 7 |
| PBR Petroleo Brasileiro S.A.- Petrobras compare | 6 |
| EC Ecopetrol S.A. compare | 6 |
| PBR.A Petroleo Brasileiro S.A.- Petrobras compare | 6 |
| EQNR Equinor ASA compare | 5 |
| TTE TotalEnergies SE Sponsored ADR compare | 5 |
| YPF YPF Sociedad Anonima compare | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover