CVE

Cenovus Energy Inc.

Fundamental data last updated:September 24, 2026

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company profile

SECTOR

Energy

industry

Oil & Gas Integrated

Exchange

NYSE

County of HQ

CA

Next Earnings Date

Pending Announcement

Business Summary

Cenovus Energy Inc. is an integrated energy firm involved in the exploration, extraction, processing, and sale of crude oil, natural gas liquids, and natural gas. Its operations span Canada, the United States, and the Asia Pacific region. The company organizes its extensive activities across six core segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail. The Oil Sands division is responsible for developing and producing bitumen and heavy oil from significant projects in northern Alberta and Saskatchewan, including Foster Creek, Christina Lake, Sunrise, and Tucker, in addition to its Lloydminster thermal and conventional heavy oil operations. Cenovus’s Conventional segment encompasses assets primarily situated in Alberta and British Columbia, specifically in areas such as Elmworth-Wapiti, Kaybob-Edson, Clearwater, and Rainbow Lake, alongside holdings in various natural gas processing facilities. The Offshore segment is solely dedicated to exploration and development endeavors. Its Canadian Manufacturing segment includes the proprietary Lloydminster upgrading and asphalt refining complex, which converts heavy oil and bitumen into synthetic crude oil, diesel fuel, asphalt, and other related products. This segment also oversees the Bruderheim crude-by-rail terminal and operates two ethanol plants. The U.S. Manufacturing segment focuses on refining crude oil to produce diesel, gasoline, jet fuel, asphalt, and various other petroleum products. Finally, the Retail segment manages the distribution and sales of both its own and third-party refined petroleum products through a network of retail, commercial, and bulk petroleum outlets, as well as wholesale channels. Cenovus Energy Inc. was founded in 2009 and maintains its corporate headquarters in Calgary, Canada.

 


VALUATION

P/E

9.84

Market Cap ($M USD)

$45.43B

Forward P/E

5.10

PEG

0.05

PRICE TO SALES

1.32

PRICE TO BOOK

1.99

EV / EBITDA

6.61

5-Year Average P/E

Free Cash Flow Yield

6.76%

DCF Value

$36.59

Graham Number

$31.08

Price to FCF

14.80

EV to FCF

17.37

Earnings Yield

7.16%

FCF Yield

6.76%

DIVIDEND

Yield

2.37%

Annual Payout

$0.82

Payout Ratio

31.95%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$2.48

Next Year EPS Growth Estimate

$4.78

Next Year Revenue Growth Estimate

$49.36B

Return on Equity (ROE)

15.23%

FREE CASH FLOW

Operating Margin

14.03%

Debt-to-Equity

0.54

Piotroski F-Score

6

Altman Z-Score

2.63

Return on Invested Capital (ROIC)

11.89%

Current Ratio

1.57

Quick Ratio

1.00

Net Debt to EBITDA

0.98

Interest Coverage

14.87

Gross Profit margin

16.13%

FCF PER SHARE

$2.32

REVENUE PER SHARE

$26.00

Gainseekers Quantitative Analysis

Summary

Cenovus Energy Inc. presents a compelling valuation story. Recent pricing indicated it traded below its DCF value and Graham Number, suggesting potential undervaluation. With a Forward P/E of 5.71 and an Earnings Yield of 6.37%, the market may be underestimating its earnings potential. The Altman Z-score of 2.78 indicates moderate financial health, suggesting some resilience but not without risk. Overall, the stock seems to offer a mix of value and growth prospects, albeit with caution.

AI Exposure / Tech Reliance

Operating within the energy sector, Cenovus Energy is less directly impacted by AI and tech shifts compared to tech-centric industries. However, advancements in AI could enhance operational efficiencies and predictive maintenance in oil and gas operations. The company’s ability to integrate such technologies could bolster its competitive edge.

The Bull Case

For value and GARP investors, Cenovus Energy shines with a robust ROIC of 11.89% and a reasonable FCF Yield of 5.95%. These metrics highlight efficient capital use and solid cash generation. The Piotroski F-Score of 6 suggests decent financial health, while an operating margin of 14.03% underscores its pricing power. These factors collectively paint a picture of a company capable of delivering shareholder value.

The Bear Case

Despite its strengths, Cenovus Energy faces structural risks. The Price/Book ratio of 2.24 and Price/Sales of 1.50 suggest it may not be a bargain on a relative basis. Additionally, with the stock extended near its 52-week high, it could be technically overbought. Investors should be wary of potential volatility and market corrections.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Hold

Average Analyst Price Target

$29.00

Institutional Ownership %

1-Year Beta

0.50

Insider Buying % (6 Mo)

Distance to 52-Week High

31.65%

Distance to 52-Week Low

43.10%

EARNINGS SURPRISE %

8.93%

50-DAY SMA

$27.97

200-DAY SMA

$21.82

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.