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CENOVUS ENERGY INC - CVECN 4.37 PERP (CVE-PR-B.CA) Stock Fundamental Analysis

TSX:CVE-PR-B - Toronto Stock Exchange - CA15135U4063 - Currency: CAD

23.75  +0.15 (+0.64%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to CVE-PR-B. CVE-PR-B was compared to 209 industry peers in the Oil, Gas & Consumable Fuels industry. Both the profitability and the financial health of CVE-PR-B get a neutral evaluation. Nothing too spectacular is happening here. CVE-PR-B has a decent growth rate and is not valued too expensively. CVE-PR-B also has an excellent dividend rating. These ratings would make CVE-PR-B suitable for dividend investing!


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

CVE-PR-B had positive earnings in the past year.
In the past year CVE-PR-B had a positive cash flow from operations.
Of the past 5 years CVE-PR-B 4 years were profitable.
In the past 5 years CVE-PR-B always reported a positive cash flow from operatings.
CVE-PR-B.CA Yearly Net Income VS EBIT VS OCF VS FCFCVE-PR-B.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B

1.2 Ratios

The Return On Assets of CVE-PR-B (4.95%) is better than 77.99% of its industry peers.
Looking at the Return On Equity, with a value of 9.30%, CVE-PR-B is in the better half of the industry, outperforming 73.68% of the companies in the same industry.
With a decent Return On Invested Capital value of 7.38%, CVE-PR-B is doing good in the industry, outperforming 77.03% of the companies in the same industry.
CVE-PR-B had an Average Return On Invested Capital over the past 3 years of 11.92%. This is above the industry average of 7.54%.
The last Return On Invested Capital (7.38%) for CVE-PR-B is well below the 3 year average (11.92%), which needs to be investigated, but indicates that CVE-PR-B had better years and this may not be a problem.
Industry RankSector Rank
ROA 4.95%
ROE 9.3%
ROIC 7.38%
ROA(3y)8.18%
ROA(5y)3.66%
ROE(3y)15.96%
ROE(5y)7.2%
ROIC(3y)11.92%
ROIC(5y)N/A
CVE-PR-B.CA Yearly ROA, ROE, ROICCVE-PR-B.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

The Profit Margin of CVE-PR-B (5.15%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of CVE-PR-B has declined.
CVE-PR-B has a Operating Margin (8.54%) which is in line with its industry peers.
In the last couple of years the Operating Margin of CVE-PR-B has grown nicely.
CVE-PR-B has a Gross Margin (32.07%) which is comparable to the rest of the industry.
CVE-PR-B's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 8.54%
PM (TTM) 5.15%
GM 32.07%
OM growth 3Y-3.42%
OM growth 5Y2.33%
PM growth 3Y68.65%
PM growth 5Y-12.05%
GM growth 3Y-13%
GM growth 5Y-11.02%
CVE-PR-B.CA Yearly Profit, Operating, Gross MarginsCVE-PR-B.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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5

2. Health

2.1 Basic Checks

CVE-PR-B has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for CVE-PR-B has been reduced compared to 1 year ago.
The number of shares outstanding for CVE-PR-B has been increased compared to 5 years ago.
Compared to 1 year ago, CVE-PR-B has a worse debt to assets ratio.
CVE-PR-B.CA Yearly Shares OutstandingCVE-PR-B.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
CVE-PR-B.CA Yearly Total Debt VS Total AssetsCVE-PR-B.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

CVE-PR-B has an Altman-Z score of 2.56. This is not the best score and indicates that CVE-PR-B is in the grey zone with still only limited risk for bankruptcy at the moment.
CVE-PR-B has a better Altman-Z score (2.56) than 75.12% of its industry peers.
CVE-PR-B has a debt to FCF ratio of 3.53. This is a good value and a sign of high solvency as CVE-PR-B would need 3.53 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 3.53, CVE-PR-B is in the better half of the industry, outperforming 79.90% of the companies in the same industry.
A Debt/Equity ratio of 0.34 indicates that CVE-PR-B is not too dependend on debt financing.
The Debt to Equity ratio of CVE-PR-B (0.34) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 3.53
Altman-Z 2.56
ROIC/WACC0.94
WACC7.84%
CVE-PR-B.CA Yearly LT Debt VS Equity VS FCFCVE-PR-B.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B

2.3 Liquidity

A Current Ratio of 1.46 indicates that CVE-PR-B should not have too much problems paying its short term obligations.
With a decent Current ratio value of 1.46, CVE-PR-B is doing good in the industry, outperforming 70.81% of the companies in the same industry.
CVE-PR-B has a Quick Ratio of 1.46. This is a bad value and indicates that CVE-PR-B is not financially healthy enough and could expect problems in meeting its short term obligations.
CVE-PR-B has a better Quick ratio (0.84) than 61.72% of its industry peers.
Industry RankSector Rank
Current Ratio 1.46
Quick Ratio 0.84
CVE-PR-B.CA Yearly Current Assets VS Current LiabilitesCVE-PR-B.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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5

3. Growth

3.1 Past

CVE-PR-B shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.43%.
CVE-PR-B shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 33.97% yearly.
The Revenue has been growing slightly by 1.57% in the past year.
CVE-PR-B shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 21.88% yearly.
EPS 1Y (TTM)-38.43%
EPS 3Y87.2%
EPS 5Y33.97%
EPS Q2Q%-24.19%
Revenue 1Y (TTM)1.57%
Revenue growth 3Y5.4%
Revenue growth 5Y21.88%
Sales Q2Q%-0.73%

3.2 Future

Based on estimates for the next years, CVE-PR-B will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.52% on average per year.
The Revenue is expected to decrease by -5.74% on average over the next years.
EPS Next Y6.62%
EPS Next 2Y18.58%
EPS Next 3Y19.52%
EPS Next 5YN/A
Revenue Next Year-8.98%
Revenue Next 2Y-4.96%
Revenue Next 3Y-5.74%
Revenue Next 5YN/A

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
CVE-PR-B.CA Yearly Revenue VS EstimatesCVE-PR-B.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20B 40B 60B
CVE-PR-B.CA Yearly EPS VS EstimatesCVE-PR-B.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 2 -2 3

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6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 15.94, the valuation of CVE-PR-B can be described as correct.
CVE-PR-B's Price/Earnings ratio is a bit cheaper when compared to the industry. CVE-PR-B is cheaper than 63.16% of the companies in the same industry.
CVE-PR-B is valuated rather cheaply when we compare the Price/Earnings ratio to 26.30, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 10.30, which indicates a very decent valuation of CVE-PR-B.
CVE-PR-B's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. CVE-PR-B is cheaper than 60.29% of the companies in the same industry.
CVE-PR-B's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.06.
Industry RankSector Rank
PE 15.94
Fwd PE 10.3
CVE-PR-B.CA Price Earnings VS Forward Price EarningsCVE-PR-B.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CVE-PR-B is valued cheaply inside the industry as 80.38% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CVE-PR-B indicates a somewhat cheap valuation: CVE-PR-B is cheaper than 66.51% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 14.18
EV/EBITDA 5.3
CVE-PR-B.CA Per share dataCVE-PR-B.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CVE-PR-B does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of CVE-PR-B may justify a higher PE ratio.
A more expensive valuation may be justified as CVE-PR-B's earnings are expected to grow with 19.52% in the coming years.
PEG (NY)2.41
PEG (5Y)0.47
EPS Next 2Y18.58%
EPS Next 3Y19.52%

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7

5. Dividend

5.1 Amount

CVE-PR-B has a Yearly Dividend Yield of 4.27%, which is a nice return.
Compared to an average industry Dividend Yield of 6.76, CVE-PR-B pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.38, CVE-PR-B pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.27%

5.2 History

The dividend of CVE-PR-B is nicely growing with an annual growth rate of 31.72%!
CVE-PR-B has been paying a dividend for at least 10 years, so it has a reliable track record.
CVE-PR-B has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)31.72%
Div Incr Years3
Div Non Decr Years3
CVE-PR-B.CA Yearly Dividends per shareCVE-PR-B.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

57.77% of the earnings are spent on dividend by CVE-PR-B. This is a bit on the high side, but may be sustainable.
The dividend of CVE-PR-B is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP57.77%
EPS Next 2Y18.58%
EPS Next 3Y19.52%
CVE-PR-B.CA Yearly Income VS Free CF VS DividendCVE-PR-B.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B
CVE-PR-B.CA Dividend Payout.CVE-PR-B.CA Dividend Payout, showing the Payout Ratio.CVE-PR-B.CA Dividend Payout.PayoutRetained Earnings

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CENOVUS ENERGY INC - CVECN 4.37 PERP

TSX:CVE-PR-B (5/30/2025, 7:00:00 PM)

23.75

+0.15 (+0.64%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)05-08 2025-05-08/bmo
Earnings (Next)07-30 2025-07-30/bmo
Inst Owners50.86%
Inst Owner ChangeN/A
Ins Owners0.81%
Ins Owner ChangeN/A
Market Cap43.29B
Analysts81.82
Price Target36.58 (54.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.27%
Yearly Dividend0.84
Dividend Growth(5Y)31.72%
DP57.77%
Div Incr Years3
Div Non Decr Years3
Ex-Date06-13 2025-06-13 (0.28472)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-23.65%
Min EPS beat(2)-72.97%
Max EPS beat(2)25.67%
EPS beat(4)1
Avg EPS beat(4)-18.6%
Min EPS beat(4)-72.97%
Max EPS beat(4)25.67%
EPS beat(8)4
Avg EPS beat(8)-6.58%
EPS beat(12)6
Avg EPS beat(12)-10.49%
EPS beat(16)7
Avg EPS beat(16)-21.6%
Revenue beat(2)0
Avg Revenue beat(2)-7.93%
Min Revenue beat(2)-10.43%
Max Revenue beat(2)-5.43%
Revenue beat(4)2
Avg Revenue beat(4)-0.71%
Min Revenue beat(4)-10.43%
Max Revenue beat(4)9.24%
Revenue beat(8)4
Avg Revenue beat(8)-0.09%
Revenue beat(12)7
Avg Revenue beat(12)5.76%
Revenue beat(16)11
Avg Revenue beat(16)6.01%
PT rev (1m)0%
PT rev (3m)11.51%
EPS NQ rev (1m)-33.97%
EPS NQ rev (3m)-39.39%
EPS NY rev (1m)0%
EPS NY rev (3m)-19.07%
Revenue NQ rev (1m)0.43%
Revenue NQ rev (3m)0.03%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.27%
Valuation
Industry RankSector Rank
PE 15.94
Fwd PE 10.3
P/S 0.8
P/FCF 14.18
P/OCF 5.24
P/B 1.44
P/tB 1.6
EV/EBITDA 5.3
EPS(TTM)1.49
EY6.27%
EPS(NY)2.31
Fwd EY9.71%
FCF(TTM)1.68
FCFY7.05%
OCF(TTM)4.53
OCFY19.08%
SpS29.73
BVpS16.48
TBVpS14.87
PEG (NY)2.41
PEG (5Y)0.47
Profitability
Industry RankSector Rank
ROA 4.95%
ROE 9.3%
ROCE 9.36%
ROIC 7.38%
ROICexc 7.81%
ROICexgc 8.33%
OM 8.54%
PM (TTM) 5.15%
GM 32.07%
FCFM 5.64%
ROA(3y)8.18%
ROA(5y)3.66%
ROE(3y)15.96%
ROE(5y)7.2%
ROIC(3y)11.92%
ROIC(5y)N/A
ROICexc(3y)12.89%
ROICexc(5y)N/A
ROICexgc(3y)13.8%
ROICexgc(5y)N/A
ROCE(3y)15.07%
ROCE(5y)N/A
ROICexcg growth 3Y-0.51%
ROICexcg growth 5Y16.37%
ROICexc growth 3Y0.11%
ROICexc growth 5Y16.58%
OM growth 3Y-3.42%
OM growth 5Y2.33%
PM growth 3Y68.65%
PM growth 5Y-12.05%
GM growth 3Y-13%
GM growth 5Y-11.02%
F-Score4
Asset Turnover0.96
Health
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 3.53
Debt/EBITDA 1.06
Cap/Depr 104.37%
Cap/Sales 9.61%
Interest Coverage 250
Cash Conversion 85.89%
Profit Quality 109.35%
Current Ratio 1.46
Quick Ratio 0.84
Altman-Z 2.56
F-Score4
WACC7.84%
ROIC/WACC0.94
Cap/Depr(3y)91.58%
Cap/Depr(5y)68.62%
Cap/Sales(3y)7.67%
Cap/Sales(5y)7.01%
Profit Quality(3y)110.56%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-38.43%
EPS 3Y87.2%
EPS 5Y33.97%
EPS Q2Q%-24.19%
EPS Next Y6.62%
EPS Next 2Y18.58%
EPS Next 3Y19.52%
EPS Next 5YN/A
Revenue 1Y (TTM)1.57%
Revenue growth 3Y5.4%
Revenue growth 5Y21.88%
Sales Q2Q%-0.73%
Revenue Next Year-8.98%
Revenue Next 2Y-4.96%
Revenue Next 3Y-5.74%
Revenue Next 5YN/A
EBIT growth 1Y-29.74%
EBIT growth 3Y1.79%
EBIT growth 5Y24.73%
EBIT Next Year96.04%
EBIT Next 3Y23.1%
EBIT Next 5Y17.31%
FCF growth 1Y-46.33%
FCF growth 3Y7.94%
FCF growth 5Y14.96%
OCF growth 1Y-15.29%
OCF growth 3Y15.98%
OCF growth 5Y22.96%