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CENOVUS ENERGY INC - CVECN 4.39 PERP (CVE-PR-B.CA) Stock Fundamental Analysis

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

23.35  -0.49 (-2.06%)

Fundamental Rating

6

Overall CVE-PR-B gets a fundamental rating of 6 out of 10. We evaluated CVE-PR-B against 214 industry peers in the Oil, Gas & Consumable Fuels industry. CVE-PR-B has only an average score on both its financial health and profitability. CVE-PR-B is not valued too expensively and it also shows a decent growth rate. CVE-PR-B also has an excellent dividend rating. These ratings could make CVE-PR-B a good candidate 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.
CVE-PR-B had a positive operating cash flow in each of the past 5 years.
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 77.57% 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 73.83% of the companies in the same industry.
CVE-PR-B has a Return On Invested Capital of 7.38%. This is in the better half of the industry: CVE-PR-B outperforms 78.04% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CVE-PR-B is above the industry average of 7.26%.
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

CVE-PR-B's Profit Margin of 5.15% is in line compared to the rest of the industry. CVE-PR-B outperforms 57.48% of its industry peers.
In the last couple of years the Profit Margin of CVE-PR-B has declined.
The Operating Margin of CVE-PR-B (8.54%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of CVE-PR-B has grown nicely.
With a Gross Margin value of 32.07%, CVE-PR-B perfoms like the industry average, outperforming 51.40% of the companies in the same 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.
Compared to 5 years ago, CVE-PR-B has more shares outstanding
The debt/assets ratio for CVE-PR-B is higher compared to a year ago.
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

An Altman-Z score of 2.53 indicates that CVE-PR-B is not a great score, but indicates only limited risk for bankruptcy at the moment.
CVE-PR-B's Altman-Z score of 2.53 is fine compared to the rest of the industry. CVE-PR-B outperforms 74.77% of its industry peers.
The Debt to FCF ratio of CVE-PR-B is 3.53, which is a good value as it means it would take CVE-PR-B, 3.53 years of fcf income to pay off 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 79.44% 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.
CVE-PR-B has a Debt to Equity ratio of 0.34. This is comparable to the rest of the industry: CVE-PR-B outperforms 56.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 3.53
Altman-Z 2.53
ROIC/WACC0.93
WACC7.97%
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.
CVE-PR-B has a better Current ratio (1.46) than 71.96% of its industry peers.
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 Quick ratio of 0.84. This is in the better half of the industry: CVE-PR-B outperforms 62.15% 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 -43.54%.
The Earnings Per Share has been growing by 33.97% on average over the past years. This is a very strong growth
Looking at the last year, CVE-PR-B shows a small growth in Revenue. The Revenue has grown by 3.97% in the last year.
Measured over the past years, CVE-PR-B shows a very strong growth in Revenue. The Revenue has been growing by 21.88% on average per year.
EPS 1Y (TTM)-43.54%
EPS 3Y87.2%
EPS 5Y33.97%
EPS Q2Q%-13.76%
Revenue 1Y (TTM)3.97%
Revenue growth 3Y5.4%
Revenue growth 5Y21.88%
Sales Q2Q%-17.16%

3.2 Future

The Earnings Per Share is expected to grow by 19.52% on average over the next years. This is quite good.
Based on estimates for the next years, CVE-PR-B will show a decrease in Revenue. The Revenue will decrease by -7.58% on average per year.
EPS Next Y6.62%
EPS Next 2Y18.58%
EPS Next 3Y19.52%
EPS Next 5YN/A
Revenue Next Year-11.68%
Revenue Next 2Y-7.91%
Revenue Next 3Y-7.58%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 16.44, the valuation of CVE-PR-B can be described as correct.
61.22% of the companies in the same industry are more expensive than CVE-PR-B, based on the Price/Earnings ratio.
CVE-PR-B's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.99.
Based on the Price/Forward Earnings ratio of 10.13, the valuation of CVE-PR-B can be described as reasonable.
CVE-PR-B's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. CVE-PR-B is cheaper than 62.62% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 36.36. CVE-PR-B is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 16.44
Fwd PE 10.13
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 10 20 30

4.2 Price Multiples

81.31% of the companies in the same industry are more expensive than CVE-PR-B, based on the Enterprise Value to EBITDA ratio.
CVE-PR-B's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. CVE-PR-B is cheaper than 69.16% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.81
EV/EBITDA 5.18
CVE-PR-B.CA Per share dataCVE-PR-B.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of CVE-PR-B may justify a higher PE ratio.
CVE-PR-B's earnings are expected to grow with 19.52% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.49
PEG (5Y)0.48
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 5.85%, which is a nice return.
CVE-PR-B's Dividend Yield is rather good when compared to the industry average which is at 5.75. CVE-PR-B pays more dividend than 86.92% of the companies in the same industry.
CVE-PR-B's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
Industry RankSector Rank
Dividend Yield 5.85%

5.2 History

The dividend of CVE-PR-B is nicely growing with an annual growth rate of 31.72%!
CVE-PR-B has paid a dividend for at least 10 years, which is 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.
CVE-PR-B's earnings are growing slower than its dividend. 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 4.39 PERP

TSX:CVE-PR-B (8/6/2025, 7:00:00 PM)

23.35

-0.49 (-2.06%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)07-31 2025-07-31/bmo
Earnings (Next)10-29 2025-10-29/bmo
Inst Owners52.31%
Inst Owner ChangeN/A
Ins Owners0.66%
Ins Owner ChangeN/A
Market Cap42.17B
Analysts79.09
Price Target30.47 (30.49%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.85%
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)-1.41%
PT rev (3m)-16.7%
EPS NQ rev (1m)-33.36%
EPS NQ rev (3m)-60.93%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-0.69%
Revenue NQ rev (3m)-2.19%
Revenue NY rev (1m)-2.97%
Revenue NY rev (3m)-2.97%
Valuation
Industry RankSector Rank
PE 16.44
Fwd PE 10.13
P/S 0.78
P/FCF 13.81
P/OCF 5.1
P/B 1.4
P/tB 1.56
EV/EBITDA 5.18
EPS(TTM)1.42
EY6.08%
EPS(NY)2.31
Fwd EY9.88%
FCF(TTM)1.69
FCFY7.24%
OCF(TTM)4.57
OCFY19.59%
SpS30
BVpS16.63
TBVpS15.01
PEG (NY)2.49
PEG (5Y)0.48
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 2.53
F-Score4
WACC7.97%
ROIC/WACC0.93
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)-43.54%
EPS 3Y87.2%
EPS 5Y33.97%
EPS Q2Q%-13.76%
EPS Next Y6.62%
EPS Next 2Y18.58%
EPS Next 3Y19.52%
EPS Next 5YN/A
Revenue 1Y (TTM)3.97%
Revenue growth 3Y5.4%
Revenue growth 5Y21.88%
Sales Q2Q%-17.16%
Revenue Next Year-11.68%
Revenue Next 2Y-7.91%
Revenue Next 3Y-7.58%
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 5Y16.96%
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%