CENOVUS ENERGY INC (CVE.CA) Stock Fundamental Analysis

TSX:CVE • CA15135U1093

30.39 CAD
+0.21 (+0.7%)
Last: Feb 27, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Overall CVE gets a fundamental rating of 5 out of 10. We evaluated CVE against 210 industry peers in the Oil, Gas & Consumable Fuels industry. CVE has an average financial health and profitability rating. CVE has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year CVE was profitable.
  • CVE had a positive operating cash flow in the past year.
  • Each year in the past 5 years CVE has been profitable.
  • CVE had a positive operating cash flow in each of the past 5 years.
CVE.CA Yearly Net Income VS EBIT VS OCF VS FCFCVE.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B

1.2 Ratios

  • With an excellent Return On Assets value of 6.17%, CVE belongs to the best of the industry, outperforming 87.20% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 12.38%, CVE belongs to the top of the industry, outperforming 83.41% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 6.85%, CVE belongs to the best of the industry, outperforming 84.36% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for CVE is in line with the industry average of 6.66%.
Industry RankSector Rank
ROA 6.17%
ROE 12.38%
ROIC 6.85%
ROA(3y)6.41%
ROA(5y)6.35%
ROE(3y)12.34%
ROE(5y)12.52%
ROIC(3y)8.35%
ROIC(5y)10.5%
CVE.CA Yearly ROA, ROE, ROICCVE.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

1.3 Margins

  • With a decent Profit Margin value of 7.88%, CVE is doing good in the industry, outperforming 60.19% of the companies in the same industry.
  • CVE's Profit Margin has declined in the last couple of years.
  • With a Operating Margin value of 9.54%, CVE perfoms like the industry average, outperforming 56.40% of the companies in the same industry.
  • In the last couple of years the Operating Margin of CVE has declined.
  • The Gross Margin of CVE (34.22%) is comparable to the rest of the industry.
  • CVE's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 9.54%
PM (TTM) 7.88%
GM 34.22%
OM growth 3Y-16.68%
OM growth 5YN/A
PM growth 3Y-6.34%
PM growth 5YN/A
GM growth 3Y-11.56%
GM growth 5Y-11%
CVE.CA Yearly Profit, Operating, Gross MarginsCVE.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), CVE is creating some value.
  • The number of shares outstanding for CVE has been increased compared to 1 year ago.
  • The number of shares outstanding for CVE has been increased compared to 5 years ago.
  • Compared to 1 year ago, CVE has a worse debt to assets ratio.
CVE.CA Yearly Shares OutstandingCVE.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B
CVE.CA Yearly Total Debt VS Total AssetsCVE.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.2 Solvency

  • An Altman-Z score of 2.45 indicates that CVE is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • The Altman-Z score of CVE (2.45) is better than 73.93% of its industry peers.
  • The Debt to FCF ratio of CVE is 4.28, which is a neutral value as it means it would take CVE, 4.28 years of fcf income to pay off all of its debts.
  • CVE has a Debt to FCF ratio of 4.28. This is amongst the best in the industry. CVE outperforms 83.41% of its industry peers.
  • CVE has a Debt/Equity ratio of 0.44. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of CVE (0.44) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 4.28
Altman-Z 2.45
ROIC/WACC0.93
WACC7.34%
CVE.CA Yearly LT Debt VS Equity VS FCFCVE.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B

2.3 Liquidity

  • A Current Ratio of 1.57 indicates that CVE should not have too much problems paying its short term obligations.
  • With a decent Current ratio value of 1.57, CVE is doing good in the industry, outperforming 72.51% of the companies in the same industry.
  • A Quick Ratio of 1.04 indicates that CVE should not have too much problems paying its short term obligations.
  • CVE's Quick ratio of 1.04 is fine compared to the rest of the industry. CVE outperforms 65.88% of its industry peers.
Industry RankSector Rank
Current Ratio 1.57
Quick Ratio 1.04
CVE.CA Yearly Current Assets VS Current LiabilitesCVE.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • CVE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 30.49%, which is quite impressive.
  • CVE shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -10.45% yearly.
  • The Revenue has decreased by -8.44% in the past year.
  • The Revenue has been growing by 30.31% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)30.49%
EPS 3Y-10.45%
EPS 5YN/A
EPS Q2Q%614.29%
Revenue 1Y (TTM)-8.44%
Revenue growth 3Y-9.43%
Revenue growth 5Y30.31%
Sales Q2Q%-15.06%

3.2 Future

  • Based on estimates for the next years, CVE will show a very strong growth in Earnings Per Share. The EPS will grow by 20.99% on average per year.
  • Based on estimates for the next years, CVE will show a decrease in Revenue. The Revenue will decrease by -2.68% on average per year.
EPS Next Y-19.29%
EPS Next 2Y-2.94%
EPS Next 3Y29.34%
EPS Next 5Y20.99%
Revenue Next Year-10.04%
Revenue Next 2Y-2.68%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last 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.CA Yearly Revenue VS EstimatesCVE.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20B 40B 60B
CVE.CA Yearly EPS VS EstimatesCVE.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 2 -2 4

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5

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 14.20 indicates a correct valuation of CVE.
  • 69.67% of the companies in the same industry are more expensive than CVE, based on the Price/Earnings ratio.
  • CVE's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.07.
  • The Price/Forward Earnings ratio is 17.60, which indicates a rather expensive current valuation of CVE.
  • CVE's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. CVE is cheaper than 65.88% of the companies in the same industry.
  • CVE's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.05.
Industry RankSector Rank
PE 14.2
Fwd PE 17.6
CVE.CA Price Earnings VS Forward Price EarningsCVE.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CVE indicates a rather cheap valuation: CVE is cheaper than 85.78% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, CVE is valued a bit cheaper than 71.56% of the companies in the same industry.
Industry RankSector Rank
P/FCF 17.23
EV/EBITDA 6.92
CVE.CA Per share dataCVE.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • CVE has a very decent profitability rating, which may justify a higher PE ratio.
  • CVE's earnings are expected to grow with 29.34% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-2.94%
EPS Next 3Y29.34%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • CVE has a Yearly Dividend Yield of 2.65%. Purely for dividend investing, there may be better candidates out there.
  • CVE's Dividend Yield is a higher than the industry average which is at 4.11.
  • Compared to an average S&P500 Dividend Yield of 1.82, CVE pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.65%

5.2 History

  • The dividend of CVE is nicely growing with an annual growth rate of 65.35%!
  • CVE has paid a dividend for at least 10 years, which is a reliable track record.
  • CVE has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)65.35%
Div Incr Years4
Div Non Decr Years4
CVE.CA Yearly Dividends per shareCVE.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8

5.3 Sustainability

  • CVE pays out 36.70% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of CVE is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP36.7%
EPS Next 2Y-2.94%
EPS Next 3Y29.34%
CVE.CA Yearly Income VS Free CF VS DividendCVE.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B 6B
CVE.CA Dividend Payout.CVE.CA Dividend Payout, showing the Payout Ratio.CVE.CA Dividend Payout.PayoutRetained Earnings

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CENOVUS ENERGY INC

TSX:CVE (2/27/2026, 7:00:00 PM)

30.39

+0.21 (+0.7%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-19
Earnings (Next)05-06
Inst Owners53.35%
Inst Owner ChangeN/A
Ins Owners0.64%
Ins Owner ChangeN/A
Market Cap57.23B
Revenue(TTM)49.70B
Net Income(TTM)3.92B
Analysts79.09
Price Target31.95 (5.13%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.65%
Yearly Dividend0.78
Dividend Growth(5Y)65.35%
DP36.7%
Div Incr Years4
Div Non Decr Years4
Ex-Date03-13
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)34.1%
Min EPS beat(2)28.15%
Max EPS beat(2)40.05%
EPS beat(4)4
Avg EPS beat(4)67.87%
Min EPS beat(4)25.67%
Max EPS beat(4)177.6%
EPS beat(8)5
Avg EPS beat(8)23.22%
EPS beat(12)8
Avg EPS beat(12)16.31%
EPS beat(16)10
Avg EPS beat(16)8.98%
Revenue beat(2)0
Avg Revenue beat(2)-13.68%
Min Revenue beat(2)-22.39%
Max Revenue beat(2)-4.97%
Revenue beat(4)0
Avg Revenue beat(4)-9.24%
Min Revenue beat(4)-22.39%
Max Revenue beat(4)-4.15%
Revenue beat(8)2
Avg Revenue beat(8)-4.53%
Revenue beat(12)4
Avg Revenue beat(12)-3.39%
Revenue beat(16)8
Avg Revenue beat(16)2.77%
PT rev (1m)7.39%
PT rev (3m)12.45%
EPS NQ rev (1m)-31.84%
EPS NQ rev (3m)-14.82%
EPS NY rev (1m)0%
EPS NY rev (3m)13.9%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-1.8%
Revenue NY rev (3m)-2.16%
Valuation
Industry RankSector Rank
PE 14.2
Fwd PE 17.6
P/S 1.15
P/FCF 17.23
P/OCF 6.96
P/B 1.81
P/tB 1.99
EV/EBITDA 6.92
EPS(TTM)2.14
EY7.04%
EPS(NY)1.73
Fwd EY5.68%
FCF(TTM)1.76
FCFY5.8%
OCF(TTM)4.37
OCFY14.38%
SpS26.39
BVpS16.79
TBVpS15.24
PEG (NY)N/A
PEG (5Y)N/A
Graham Number28.43
Profitability
Industry RankSector Rank
ROA 6.17%
ROE 12.38%
ROCE 8.3%
ROIC 6.85%
ROICexc 7.19%
ROICexgc 7.6%
OM 9.54%
PM (TTM) 7.88%
GM 34.22%
FCFM 6.68%
ROA(3y)6.41%
ROA(5y)6.35%
ROE(3y)12.34%
ROE(5y)12.52%
ROIC(3y)8.35%
ROIC(5y)10.5%
ROICexc(3y)8.81%
ROICexc(5y)11.28%
ROICexgc(3y)9.38%
ROICexgc(5y)12.09%
ROCE(3y)10.15%
ROCE(5y)12.76%
ROICexgc growth 3Y-30.32%
ROICexgc growth 5YN/A
ROICexc growth 3Y-29.98%
ROICexc growth 5YN/A
OM growth 3Y-16.68%
OM growth 5YN/A
PM growth 3Y-6.34%
PM growth 5YN/A
GM growth 3Y-11.56%
GM growth 5Y-11%
F-Score7
Asset Turnover0.78
Health
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 4.28
Debt/EBITDA 1.39
Cap/Depr 94.51%
Cap/Sales 9.87%
Interest Coverage 250
Cash Conversion 82.83%
Profit Quality 84.81%
Current Ratio 1.57
Quick Ratio 1.04
Altman-Z 2.45
F-Score7
WACC7.34%
ROIC/WACC0.93
Cap/Depr(3y)96.67%
Cap/Depr(5y)82.56%
Cap/Sales(3y)9.12%
Cap/Sales(5y)7.68%
Profit Quality(3y)98.85%
Profit Quality(5y)204.67%
High Growth Momentum
Growth
EPS 1Y (TTM)30.49%
EPS 3Y-10.45%
EPS 5YN/A
EPS Q2Q%614.29%
EPS Next Y-19.29%
EPS Next 2Y-2.94%
EPS Next 3Y29.34%
EPS Next 5Y20.99%
Revenue 1Y (TTM)-8.44%
Revenue growth 3Y-9.43%
Revenue growth 5Y30.31%
Sales Q2Q%-15.06%
Revenue Next Year-10.04%
Revenue Next 2Y-2.68%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-6.76%
EBIT growth 3Y-24.54%
EBIT growth 5YN/A
EBIT Next Year121.98%
EBIT Next 3Y38.95%
EBIT Next 5Y28.92%
FCF growth 1Y-21.3%
FCF growth 3Y-24.43%
FCF growth 5YN/A
OCF growth 1Y-10.9%
OCF growth 3Y-10.31%
OCF growth 5Y97.62%

CENOVUS ENERGY INC / CVE.CA FAQ

What is the fundamental rating for CVE stock?

ChartMill assigns a fundamental rating of 5 / 10 to CVE.CA.


Can you provide the valuation status for CENOVUS ENERGY INC?

ChartMill assigns a valuation rating of 5 / 10 to CENOVUS ENERGY INC (CVE.CA). This can be considered as Fairly Valued.


Can you provide the profitability details for CENOVUS ENERGY INC?

CENOVUS ENERGY INC (CVE.CA) has a profitability rating of 6 / 10.


What is the valuation of CENOVUS ENERGY INC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for CENOVUS ENERGY INC (CVE.CA) is 14.2 and the Price/Book (PB) ratio is 1.81.


Can you provide the financial health for CVE stock?

The financial health rating of CENOVUS ENERGY INC (CVE.CA) is 5 / 10.