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Fundamentals snapshot

Cenovus Energy Inc.

CVE · NYQ · Energy · Oil & Gas Integrated

Current price

$31.39

52-week range

$15.63 - $34.16

Market cap

$57.89B

One-glance verdict

Within fair range

$40.31 our estimate vs market $31.39

Wall Street consensus: $36.48 (-9.5% lower than our fair-value estimate)

Balance sheet

Watch

7.00x Adequate

Net debt $5.95B. Interest coverage shows how many times profit covers the interest bill.

What this company does

Cenovus Energy Inc.

Cenovus Energy Inc. is a company that digs up and processes oil and natural gas to make products like gasoline and jet fuel. Their money primarily comes from selling these fuels and oil, which is important because it means their profits are directly tied to how much energy people need and the price of that energy. They operate in different parts of the process, from getting the raw materials to refining them into usable products.

Price history

How the share price has moved

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Is it cheap or expensive?

Fair value $40.31 vs current price $31.39

Wall Street consensus is the average analyst price target: $36.48 (-9.5% lower than our fair-value estimate).

Our most-likely fair value is $40.31 a share — about 28.4% away from today's price of $31.39, so the stock currently looks fairly priced.

fair

We estimate the cash this business should generate over the next 10 years and beyond, then convert it to today's money for a fair value per share, in its trading currency. Cautious, middle and optimistic growth cases give a range. Not for banks/insurers.

Base

Growth 8.0% · Discount 7.2% · Terminal 2.5%

$40.31

Bear

Growth 4.0% · Discount 7.2% · Terminal 2.5%

$31.19

Bull

Growth 15.0% · Discount 7.2% · Terminal 2.5%

$61.80

Is it drowning in debt?

Watch

Net debt $5.9B. Interest coverage 7.0x.

Net debt $5.95B
Interest coverage 7.00x

Cenovus Energy Inc.'s profit covers its interest bill about 7.0 times over.

Watch
Worse cushion Baseline Better cushion
CVE BASELINE Cenovus Energy Inc.

Total debt $8.18B Interest coverage 7.00x This is the baseline the peer rows are being compared against.

7.00x
SU Suncor Energy Inc.

Total debt $10.32B Interest coverage 10.76x +54% vs CVE Carries about 1.5x more debt cushion than CVE.

10.76x +54% vs CVE
IMO Imperial Oil Limited

Total debt $2.94B Interest coverage 158.23x +2,160% vs CVE Carries about 22.6x more debt cushion than CVE.

158.23x +2,160% vs CVE
CNQ Canadian Natural Resources Limited

Total debt $14.19B Interest coverage 7.92x +13% vs CVE Has roughly the same debt cushion as CVE.

7.92x +13% vs CVE
BTE Baytex Energy Corp.

Total debt $104.74M Interest coverage 1.40x -80% vs CVE Carries about 5.0x less debt cushion than CVE.

1.40x -80% vs CVE

What you should know

The case for and against CVE

3 Rewards 2 Risks

Rewards

  • Returns 20.9% on equity, ahead of 60% of its peers.
  • Free cash flow was positive in 4/10 years.
  • Trades at 12.1x P/E vs peer median 13.3x (9.4% cheaper).

Risks

  • Net debt grew 61.1% over 3 years.
  • Stock trades 56.5% above its 5-year average P/E.

The numbers

All the key metrics, grouped by purpose

Tap any ? icon to learn what it means.

Valuation

How expensive the stock looks

P/E (TTM)
12.07x
Forward P/E
11.63x
P/B
2.41x
P/S
1.07x
EV/EBITDA
4.63x
PEG ratio
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Profitability

How much profit each dollar creates

Gross margin
29.9%
Operating margin
23.8%
Net margin
12.4%
ROE
20.9%
ROA
9.2%

Health

Liquidity and balance-sheet strength

Debt / equity
0.34x
Current ratio
1.63x
Quick ratio
1.04x
Total debt
$8.18B
Total cash
$2.23B

Growth

How the business has been compounding

Revenue TTM
$37.87B
Revenue 5Y CAGR
-9.8%
EPS TTM
2.60
EPS 5Y CAGR
-12.4%

Cash flow

How much cash the business throws off

Operating CF TTM
$5.78B
Free CF TTM
$2.33B
FCF margin
6.2%

Dividend

Shareholder payout

Yield
2.0%
Payout ratio
22.8%
Last ex-div date
2026-09-15