CENOVUS ENERGY INC (CVE.CA) Stock Fundamental Analysis

TSX:CVE • CA15135U1093

29.9 CAD
+0.87 (+3%)
Last: Feb 13, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

Overall CVE gets a fundamental rating of 6 out of 10. We evaluated CVE against 205 industry peers in the Oil, Gas & Consumable Fuels industry. While CVE belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. CVE has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year CVE was profitable.
  • CVE had a positive operating cash flow in the past year.
  • Of the past 5 years CVE 4 years were profitable.
  • Each year in the past 5 years CVE had a positive operating cash flow.
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 0 5B 10B

1.2 Ratios

  • With an excellent Return On Assets value of 5.83%, CVE belongs to the best of the industry, outperforming 87.32% of the companies in the same industry.
  • CVE's Return On Equity of 11.00% is amongst the best of the industry. CVE outperforms 82.44% of its industry peers.
  • CVE's Return On Invested Capital of 7.09% is amongst the best of the industry. CVE outperforms 84.39% of its industry peers.
  • CVE had an Average Return On Invested Capital over the past 3 years of 11.92%. This is significantly above the industry average of 6.52%.
  • The last Return On Invested Capital (7.09%) for CVE is well below the 3 year average (11.92%), which needs to be investigated, but indicates that CVE had better years and this may not be a problem.
Industry RankSector Rank
ROA 5.83%
ROE 11%
ROIC 7.09%
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.CA Yearly ROA, ROE, ROICCVE.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

  • The Profit Margin of CVE (6.17%) is comparable to the rest of the industry.
  • CVE's Profit Margin has declined in the last couple of years.
  • CVE has a Operating Margin of 8.46%. This is comparable to the rest of the industry: CVE outperforms 54.63% of its industry peers.
  • In the last couple of years the Operating Margin of CVE has grown nicely.
  • CVE has a Gross Margin of 33.16%. This is comparable to the rest of the industry: CVE outperforms 52.68% of its industry peers.
  • In the last couple of years the Gross Margin of CVE has declined.
Industry RankSector Rank
OM 8.46%
PM (TTM) 6.17%
GM 33.16%
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.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 0 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • CVE has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • Compared to 1 year ago, CVE has less shares outstanding
  • The number of shares outstanding for CVE has been increased compared to 5 years ago.
  • CVE has a worse debt/assets ratio than last year.
CVE.CA Yearly Shares OutstandingCVE.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 10B 20B 30B 40B 50B

2.2 Solvency

  • CVE has an Altman-Z score of 2.96. This is not the best score and indicates that CVE is in the grey zone with still only limited risk for bankruptcy at the moment.
  • The Altman-Z score of CVE (2.96) is better than 79.02% of its industry peers.
  • The Debt to FCF ratio of CVE is 3.55, which is a good value as it means it would take CVE, 3.55 years of fcf income to pay off all of its debts.
  • CVE's Debt to FCF ratio of 3.55 is amongst the best of the industry. CVE outperforms 83.41% of its industry peers.
  • A Debt/Equity ratio of 0.34 indicates that CVE is not too dependend on debt financing.
  • CVE's Debt to Equity ratio of 0.34 is in line compared to the rest of the industry. CVE outperforms 57.56% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 3.55
Altman-Z 2.96
ROIC/WACC0.96
WACC7.4%
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 0 10B 20B

2.3 Liquidity

  • CVE has a Current Ratio of 1.73. This is a normal value and indicates that CVE is financially healthy and should not expect problems in meeting its short term obligations.
  • With a decent Current ratio value of 1.73, CVE is doing good in the industry, outperforming 76.10% of the companies in the same industry.
  • A Quick Ratio of 1.18 indicates that CVE should not have too much problems paying its short term obligations.
  • CVE's Quick ratio of 1.18 is fine compared to the rest of the industry. CVE outperforms 69.27% of its industry peers.
Industry RankSector Rank
Current Ratio 1.73
Quick Ratio 1.18
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 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

  • The earnings per share for CVE have decreased strongly by -12.76% in the last year.
  • Measured over the past years, CVE shows a very strong growth in Earnings Per Share. The EPS has been growing by 33.97% on average per year.
  • The Revenue has decreased by -9.17% in the past year.
  • CVE shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 21.88% yearly.
EPS 1Y (TTM)-12.76%
EPS 3Y87.2%
EPS 5Y33.97%
EPS Q2Q%71.43%
Revenue 1Y (TTM)-9.17%
Revenue growth 3Y5.4%
Revenue growth 5Y21.88%
Sales Q2Q%-7.4%

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 22.84% on average per year.
  • The Revenue is expected to decrease by -8.73% on average over the next years.
EPS Next Y12.86%
EPS Next 2Y-13.49%
EPS Next 3Y3.47%
EPS Next 5Y22.84%
Revenue Next Year-7.1%
Revenue Next 2Y-15.61%
Revenue Next 3Y-8.73%
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.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

  • Based on the Price/Earnings ratio of 17.49, the valuation of CVE can be described as rather expensive.
  • Based on the Price/Earnings ratio, CVE is valued a bit cheaper than 66.34% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.68, CVE is valued a bit cheaper.
  • The Price/Forward Earnings ratio is 24.36, which indicates a rather expensive current valuation of CVE.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of CVE is on the same level as its industry peers.
  • The average S&P500 Price/Forward Earnings ratio is at 28.06. CVE is around the same levels.
Industry RankSector Rank
PE 17.49
Fwd PE 24.36
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

  • CVE's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CVE is cheaper than 83.41% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, CVE is valued a bit cheaper than the industry average as 66.83% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 19.94
EV/EBITDA 6.91
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's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of CVE may justify a higher PE ratio.
PEG (NY)1.36
PEG (5Y)0.51
EPS Next 2Y-13.49%
EPS Next 3Y3.47%

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

5

5. Dividend

5.1 Amount

  • CVE has a Yearly Dividend Yield of 2.76%.
  • CVE's Dividend Yield is a higher than the industry average which is at 3.21.
  • Compared to an average S&P500 Dividend Yield of 1.84, CVE pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.76%

5.2 History

  • The dividend of CVE is nicely growing with an annual growth rate of 31.72%!
  • CVE has been paying a dividend for at least 10 years, so it has a reliable track record.
  • CVE has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)31.72%
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 0.2 0.4 0.6 0.8

5.3 Sustainability

  • 45.02% of the earnings are spent on dividend by CVE. This is a bit on the high side, but may be sustainable.
  • CVE's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP45.02%
EPS Next 2Y-13.49%
EPS Next 3Y3.47%
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 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 (2/13/2026, 7:00:00 PM)

29.9

+0.87 (+3%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)10-31
Earnings (Next)02-19
Inst Owners53.35%
Inst Owner ChangeN/A
Ins Owners0.64%
Ins Owner ChangeN/A
Market Cap56.31B
Revenue(TTM)50.56B
Net Income(TTM)3.12B
Analysts79.09
Price Target29.46 (-1.47%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.76%
Yearly Dividend0.84
Dividend Growth(5Y)31.72%
DP45.02%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)108.83%
Min EPS beat(2)40.05%
Max EPS beat(2)177.6%
EPS beat(4)3
Avg EPS beat(4)42.59%
Min EPS beat(4)-72.97%
Max EPS beat(4)177.6%
EPS beat(8)4
Avg EPS beat(8)19.19%
EPS beat(12)7
Avg EPS beat(12)10.58%
EPS beat(16)9
Avg EPS beat(16)-1.72%
Revenue beat(2)0
Avg Revenue beat(2)-4.56%
Min Revenue beat(2)-4.97%
Max Revenue beat(2)-4.15%
Revenue beat(4)0
Avg Revenue beat(4)-6.25%
Min Revenue beat(4)-10.43%
Max Revenue beat(4)-4.15%
Revenue beat(8)3
Avg Revenue beat(8)-1.58%
Revenue beat(12)5
Avg Revenue beat(12)-0.2%
Revenue beat(16)9
Avg Revenue beat(16)4.49%
PT rev (1m)-0.96%
PT rev (3m)5%
EPS NQ rev (1m)0.71%
EPS NQ rev (3m)21.08%
EPS NY rev (1m)0.48%
EPS NY rev (3m)5.39%
Revenue NQ rev (1m)0.19%
Revenue NQ rev (3m)-3.3%
Revenue NY rev (1m)0.18%
Revenue NY rev (3m)1.89%
Valuation
Industry RankSector Rank
PE 17.49
Fwd PE 24.36
P/S 1.11
P/FCF 19.94
P/OCF 7.17
P/B 1.98
P/tB 2.21
EV/EBITDA 6.91
EPS(TTM)1.71
EY5.72%
EPS(NY)1.23
Fwd EY4.1%
FCF(TTM)1.5
FCFY5.02%
OCF(TTM)4.17
OCFY13.94%
SpS26.85
BVpS15.07
TBVpS13.51
PEG (NY)1.36
PEG (5Y)0.51
Graham Number24.08
Profitability
Industry RankSector Rank
ROA 5.83%
ROE 11%
ROCE 8.93%
ROIC 7.09%
ROICexc 7.38%
ROICexgc 7.88%
OM 8.46%
PM (TTM) 6.17%
GM 33.16%
FCFM 5.59%
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
ROICexgc growth 3Y-0.51%
ROICexgc 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-Score5
Asset Turnover0.94
Health
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 3.55
Debt/EBITDA 1.04
Cap/Depr 99.6%
Cap/Sales 9.94%
Interest Coverage 250
Cash Conversion 84.18%
Profit Quality 90.48%
Current Ratio 1.73
Quick Ratio 1.18
Altman-Z 2.96
F-Score5
WACC7.4%
ROIC/WACC0.96
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)-12.76%
EPS 3Y87.2%
EPS 5Y33.97%
EPS Q2Q%71.43%
EPS Next Y12.86%
EPS Next 2Y-13.49%
EPS Next 3Y3.47%
EPS Next 5Y22.84%
Revenue 1Y (TTM)-9.17%
Revenue growth 3Y5.4%
Revenue growth 5Y21.88%
Sales Q2Q%-7.4%
Revenue Next Year-7.1%
Revenue Next 2Y-15.61%
Revenue Next 3Y-8.73%
Revenue Next 5YN/A
EBIT growth 1Y-20.33%
EBIT growth 3Y1.79%
EBIT growth 5Y24.73%
EBIT Next Year104.85%
EBIT Next 3Y30.94%
EBIT Next 5Y20.74%
FCF growth 1Y-6.18%
FCF growth 3Y7.94%
FCF growth 5Y14.96%
OCF growth 1Y5.9%
OCF growth 3Y15.98%
OCF growth 5Y22.96%

CENOVUS ENERGY INC / CVE.CA FAQ

What is the fundamental rating for CVE stock?

ChartMill assigns a fundamental rating of 6 / 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 7 / 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 17.49 and the Price/Book (PB) ratio is 1.98.


Can you provide the financial health for CVE stock?

The financial health rating of CENOVUS ENERGY INC (CVE.CA) is 6 / 10.