18 years of historical data (2008–2025) · Energy · Oil & Gas Integrated
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Cenovus Energy Inc. trades at 14.2x earnings, roughly in line with its 5-year average of 14.6x, sitting at the 43rd percentile of its historical range. Compared to the Energy sector median P/E of 16.8x, the stock trades at a discount of 15%. On a free-cash-flow basis, the stock trades at 16.9x P/FCF, 119% above the 5-year average of 7.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $42.1B | $30.8B | $28.2B | $32.1B | $38.9B | $25.1B | $7.4B | $12.5B | $8.6B | $10.1B | $12.6B |
| Enterprise Value | $52.5B | $45.1B | $35.8B | $39.8B | $46.1B | $37.7B | $16.4B | $20.9B | $17.0B | $19.0B | $15.2B |
| P/E Ratio → | 14.20 | 7.87 | 9.07 | 7.85 | 6.07 | 42.34 | — | 5.70 | — | 2.99 | — |
| P/S Ratio | 1.16 | 0.62 | 0.49 | 0.58 | 0.54 | 0.51 | 0.53 | 0.61 | 0.40 | 0.58 | 1.14 |
| P/B Ratio | 1.76 | 0.97 | 0.95 | 1.12 | 1.41 | 1.06 | 0.44 | 0.65 | 0.49 | 0.50 | 1.09 |
| P/FCF | 16.91 | 9.04 | 6.69 | 10.37 | 5.09 | 7.48 | — | 5.94 | 11.12 | 7.25 | — |
| P/OCF | 7.01 | 3.75 | 3.06 | 4.34 | 3.41 | 4.24 | 27.19 | 3.80 | 4.01 | 3.29 | 14.64 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Cenovus Energy Inc.'s enterprise value stands at 7.3x EBITDA, 84% above its 5-year average of 4.0x. This is roughly in line with the Energy sector median of 7.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.91 | 0.62 | 0.72 | 0.64 | 0.77 | 1.18 | 1.02 | 0.80 | 1.10 | 1.38 |
| EV / EBITDA | 7.32 | 4.59 | 3.60 | 3.87 | 3.06 | 4.80 | 21.25 | 3.20 | 19.13 | 8.35 | 11.92 |
| EV / EBIT | 16.40 | 10.29 | 7.58 | 6.90 | 4.83 | 15.94 | — | 13.02 | — | 6.69 | — |
| EV / FCF | — | 13.23 | 8.48 | 12.87 | 6.02 | 11.22 | — | 9.95 | 21.91 | 13.66 | — |
Margins and return-on-capital ratios measuring operating efficiency
Cenovus Energy Inc. earns an operating margin of 8.8%, below the Energy sector average of 13.9%. Operating margins have compressed from 10.1% to 8.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 12.8% is modest. ROIC of 7.9% represents adequate returns on invested capital versus a sector median of 6.8%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.5% | 10.5% | 22.1% | 22.9% | 23.9% | 18.7% | -2.4% | 21.8% | 19.1% | 19.8% | 12.5% |
| Operating Margin | 8.8% | 8.8% | 8.8% | 10.1% | 14.4% | 7.2% | — | 20.2% | -5.8% | 1.4% | -2.0% |
| Net Profit Margin | 7.9% | 7.9% | 5.4% | 7.4% | 9.0% | 1.2% | -17.1% | 10.7% | -12.5% | 19.4% | -4.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.8% | 12.8% | 10.7% | 14.6% | 25.2% | 2.9% | -13.3% | 12.0% | -14.3% | 21.3% | -4.5% |
| ROA | 6.5% | 6.5% | 5.7% | 7.5% | 11.7% | 1.4% | -6.9% | 6.2% | -7.0% | 10.2% | -2.1% |
| ROIC | 7.9% | 7.9% | 10.3% | 11.9% | 21.9% | 8.6% | — | 11.6% | -3.4% | 0.8% | -1.1% |
| ROCE | 8.2% | 8.2% | 10.4% | 11.8% | 21.9% | 9.1% | — | 12.6% | -3.6% | 0.8% | -1.0% |
Solvency and debt-coverage ratios — lower is generally safer
Cenovus Energy Inc. carries a Debt/EBITDA ratio of 1.7x, which is manageable (30% below the sector average of 2.5x). Net debt stands at $14.3B ($17.0B total debt minus $2.7B cash). Interest coverage of 9.4x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.54 | 0.54 | 0.36 | 0.35 | 0.42 | 0.65 | 0.56 | 0.45 | 0.52 | 0.48 | 0.55 |
| Debt / EBITDA | 1.73 | 1.73 | 1.07 | 0.97 | 0.77 | 1.97 | 12.10 | 1.32 | 10.30 | 4.19 | 4.96 |
| Net Debt / Equity | — | 0.45 | 0.25 | 0.27 | 0.26 | 0.53 | 0.54 | 0.44 | 0.48 | 0.45 | 0.23 |
| Net Debt / EBITDA | 1.45 | 1.45 | 0.76 | 0.75 | 0.47 | 1.60 | 11.61 | 1.29 | 9.42 | 3.92 | 2.05 |
| Debt / FCF | — | 4.19 | 1.79 | 2.50 | 0.93 | 3.74 | — | 4.01 | 10.79 | 6.41 | — |
| Interest Coverage | 9.39 | 9.39 | 7.80 | 7.78 | 12.75 | 3.36 | — | 11.88 | -2.09 | 0.39 | -0.60 |
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.57x means Cenovus Energy Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.04x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.57 | 1.57 | 1.42 | 1.56 | 1.55 | 1.64 | 1.26 | 1.30 | 1.23 | 1.13 | 2.55 |
| Quick Ratio | 1.04 | 1.04 | 0.81 | 0.91 | 1.01 | 1.10 | 0.80 | 0.69 | 0.84 | 0.82 | 2.09 |
| Cash Ratio | 0.43 | 0.43 | 0.42 | 0.36 | 0.56 | 0.39 | 0.16 | 0.07 | 0.30 | 0.14 | 1.39 |
| Asset Turnover | — | 0.78 | 1.02 | 1.03 | 1.28 | 0.90 | 0.42 | 0.58 | 0.61 | 0.42 | 0.44 |
| Inventory Turnover | 13.29 | 13.29 | 10.00 | 10.61 | 12.67 | 10.13 | 13.08 | 10.48 | 17.08 | 10.00 | 7.79 |
| Days Sales Outstanding | — | 25.32 | 16.81 | 21.11 | 15.36 | 25.47 | 30.35 | 25.76 | 20.36 | 34.17 | 54.68 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Cenovus Energy Inc. returns 6.9% to shareholders annually — split between a 2.6% dividend yield and 4.3% buyback yield. The payout ratio of 36.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 7.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.6% | 4.6% | 5.3% | 3.1% | 2.3% | 0.7% | 1.0% | 2.1% | 2.8% | 2.2% | 1.3% |
| Payout Ratio | 36.2% | 36.2% | 47.9% | 24.1% | 14.0% | 30.0% | — | 11.9% | — | 6.7% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.0% | 12.7% | 11.0% | 12.7% | 16.5% | 2.4% | — | 17.5% | — | 33.4% | — |
| FCF Yield | 5.9% | 11.1% | 14.9% | 9.6% | 19.6% | 13.4% | — | 16.8% | 9.0% | 13.8% | — |
| Buyback Yield | 4.3% | 8.1% | 5.1% | 3.3% | 6.5% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.9% | 12.7% | 10.5% | 6.4% | 8.8% | 1.8% | 1.0% | 2.1% | 2.8% | 2.2% | 1.3% |
| Shares Outstanding | — | $1.8B | $1.9B | $1.9B | $2.0B | $2.0B | $1.2B | $1.2B | $1.2B | $1.1B | $833M |
Compare CVE with 2 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| CVEYou | $42B | 14.2 | 7.3 | 16.9 | 10.5% | 8.8% | 12.8% | 7.9% | 1.7 |
| SU | $67B | 15.9 | 6.9 | 13.3 | 43.4% | 16.3% | 13.2% | 10.4% | 1.2 |
| IMO | $58B | 17.8 | 10.1 | 19.4 | 14.4% | 12.5% | 21.0% | 17.5% | 0.5 |
| Energy Median | — | 16.8 | 7.3 | 11.5 | 35.3% | 13.9% | 8.2% | 6.8% | 2.5 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 18 years · Updated daily
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Start ComparisonCenovus Energy Inc.'s current P/E ratio is 14.2x. The historical average is 17.3x. This places it at the 43th percentile of its historical range.
Cenovus Energy Inc.'s current EV/EBITDA is 7.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.2x.
Cenovus Energy Inc.'s return on equity (ROE) is 12.8%. The historical average is 9.0%.
Based on historical data, Cenovus Energy Inc. is trading at a P/E of 14.2x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Cenovus Energy Inc.'s current dividend yield is 2.56% with a payout ratio of 36.2%.
Cenovus Energy Inc. has 10.5% gross margin and 8.8% operating margin.
Cenovus Energy Inc.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.