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CENOVUS ENERGY INC - CVECN 3.935 PERP (CVE-PR-G.CA) Stock Fundamental Analysis

TSX:CVE-PR-G - Toronto Stock Exchange - CA15135U8858 - Currency: CAD

24.97  -0.24 (-0.95%)

Fundamental Rating

5

Overall CVE-PR-G gets a fundamental rating of 5 out of 10. We evaluated CVE-PR-G against 209 industry peers in the Oil, Gas & Consumable Fuels industry. CVE-PR-G has an average financial health and profitability rating. CVE-PR-G is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

CVE-PR-G had positive earnings in the past year.
CVE-PR-G had a positive operating cash flow in the past year.
Of the past 5 years CVE-PR-G 4 years were profitable.
CVE-PR-G had a positive operating cash flow in each of the past 5 years.
CVE-PR-G.CA Yearly Net Income VS EBIT VS OCF VS FCFCVE-PR-G.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-G (4.95%) is better than 77.03% of its industry peers.
CVE-PR-G has a better Return On Equity (9.30%) than 72.73% of its industry peers.
Looking at the Return On Invested Capital, with a value of 7.38%, CVE-PR-G is in the better half of the industry, outperforming 76.08% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for CVE-PR-G is above the industry average of 7.47%.
The 3 year average ROIC (11.92%) for CVE-PR-G is well above the current ROIC(7.38%). The reason for the recent decline needs to be investigated.
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-G.CA Yearly ROA, ROE, ROICCVE-PR-G.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-G has a Profit Margin (5.15%) which is in line with its industry peers.
CVE-PR-G's Profit Margin has declined in the last couple of years.
The Operating Margin of CVE-PR-G (8.54%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of CVE-PR-G has grown nicely.
CVE-PR-G's Gross Margin of 32.07% is in line compared to the rest of the industry. CVE-PR-G outperforms 49.76% of its industry peers.
CVE-PR-G'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-G.CA Yearly Profit, Operating, Gross MarginsCVE-PR-G.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

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so CVE-PR-G is still creating some value.
CVE-PR-G has less shares outstanding than it did 1 year ago.
CVE-PR-G has more shares outstanding than it did 5 years ago.
The debt/assets ratio for CVE-PR-G is higher compared to a year ago.
CVE-PR-G.CA Yearly Shares OutstandingCVE-PR-G.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
CVE-PR-G.CA Yearly Total Debt VS Total AssetsCVE-PR-G.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-G has an Altman-Z score of 2.62. This is not the best score and indicates that CVE-PR-G is in the grey zone with still only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.62, CVE-PR-G is doing good in the industry, outperforming 75.60% of the companies in the same industry.
CVE-PR-G has a debt to FCF ratio of 3.53. This is a good value and a sign of high solvency as CVE-PR-G would need 3.53 years to pay back of all of its debts.
CVE-PR-G has a better Debt to FCF ratio (3.53) than 78.47% of its industry peers.
CVE-PR-G has a Debt/Equity ratio of 0.34. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.34, CVE-PR-G is in line with its industry, outperforming 53.59% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 3.53
Altman-Z 2.62
ROIC/WACC1.05
WACC7.05%
CVE-PR-G.CA Yearly LT Debt VS Equity VS FCFCVE-PR-G.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-G should not have too much problems paying its short term obligations.
CVE-PR-G has a Current ratio of 1.46. This is in the better half of the industry: CVE-PR-G outperforms 69.86% of its industry peers.
A Quick Ratio of 0.84 indicates that CVE-PR-G may have some problems paying its short term obligations.
CVE-PR-G has a Quick ratio of 0.84. This is in the better half of the industry: CVE-PR-G outperforms 61.24% of its industry peers.
Industry RankSector Rank
Current Ratio 1.46
Quick Ratio 0.84
CVE-PR-G.CA Yearly Current Assets VS Current LiabilitesCVE-PR-G.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

The earnings per share for CVE-PR-G have decreased strongly by -38.43% in the last year.
Measured over the past years, CVE-PR-G shows a very strong growth in Earnings Per Share. The EPS has been growing by 33.97% on average per year.
CVE-PR-G shows a small growth in Revenue. In the last year, the Revenue has grown by 1.57%.
Measured over the past years, CVE-PR-G shows a very strong growth in Revenue. The Revenue has been growing by 21.88% on average per year.
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

CVE-PR-G is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.52% yearly.
Based on estimates for the next years, CVE-PR-G will show a decrease in Revenue. The Revenue will decrease by -5.74% on average per year.
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

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-G.CA Yearly Revenue VS EstimatesCVE-PR-G.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-G.CA Yearly EPS VS EstimatesCVE-PR-G.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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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 16.76, CVE-PR-G is valued correctly.
60.77% of the companies in the same industry are more expensive than CVE-PR-G, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.31, CVE-PR-G is valued a bit cheaper.
The Price/Forward Earnings ratio is 10.83, which indicates a very decent valuation of CVE-PR-G.
CVE-PR-G's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.13, CVE-PR-G is valued rather cheaply.
Industry RankSector Rank
PE 16.76
Fwd PE 10.83
CVE-PR-G.CA Price Earnings VS Forward Price EarningsCVE-PR-G.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CVE-PR-G indicates a somewhat cheap valuation: CVE-PR-G is cheaper than 79.90% of the companies listed in the same industry.
65.55% of the companies in the same industry are more expensive than CVE-PR-G, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 14.91
EV/EBITDA 5.58
CVE-PR-G.CA Per share dataCVE-PR-G.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-G does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of CVE-PR-G may justify a higher PE ratio.
CVE-PR-G's earnings are expected to grow with 19.52% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.53
PEG (5Y)0.49
EPS Next 2Y18.58%
EPS Next 3Y19.52%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.94%, CVE-PR-G has a reasonable but not impressive dividend return.
CVE-PR-G's Dividend Yield is a higher than the industry average which is at 6.43.
Compared to an average S&P500 Dividend Yield of 2.40, CVE-PR-G pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.94%

5.2 History

On average, the dividend of CVE-PR-G grows each year by 31.72%, which is quite nice.
CVE-PR-G has paid a dividend for at least 10 years, which is a reliable track record.
CVE-PR-G has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)31.72%
Div Incr Years0
Div Non Decr Years3
CVE-PR-G.CA Yearly Dividends per shareCVE-PR-G.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

57.77% of the earnings are spent on dividend by CVE-PR-G. This is a bit on the high side, but may be sustainable.
CVE-PR-G'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-G.CA Yearly Income VS Free CF VS DividendCVE-PR-G.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-G.CA Dividend Payout.CVE-PR-G.CA Dividend Payout, showing the Payout Ratio.CVE-PR-G.CA Dividend Payout.PayoutRetained Earnings

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CENOVUS ENERGY INC - CVECN 3.935 PERP

TSX:CVE-PR-G (6/13/2025, 7:00:00 PM)

24.97

-0.24 (-0.95%)

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 Owners52.31%
Inst Owner ChangeN/A
Ins Owners0.66%
Ins Owner ChangeN/A
Market Cap45.51B
Analysts79.09
Price Target36.54 (46.34%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.94%
Yearly Dividend0.84
Dividend Growth(5Y)31.72%
DP57.77%
Div Incr Years0
Div Non Decr Years3
Ex-Date06-13 2025-06-13 (0.24594)
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)-8.16%
PT rev (3m)-1.57%
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)-0.01%
Valuation
Industry RankSector Rank
PE 16.76
Fwd PE 10.83
P/S 0.84
P/FCF 14.91
P/OCF 5.51
P/B 1.52
P/tB 1.68
EV/EBITDA 5.58
EPS(TTM)1.49
EY5.97%
EPS(NY)2.31
Fwd EY9.23%
FCF(TTM)1.68
FCFY6.71%
OCF(TTM)4.53
OCFY18.15%
SpS29.73
BVpS16.48
TBVpS14.87
PEG (NY)2.53
PEG (5Y)0.49
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 2.62
F-Score4
WACC7.05%
ROIC/WACC1.05
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 5Y16.97%
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%