Cenovus Energy Inc. (CVE) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
CVE Revenue Growth
Revenue Breakdown (FY 2020)
CVE's revenue distribution by segment and geography for fiscal year 2020
By Product/Segment
By Geography
CVE Revenue Analysis (2014–2025)
As of May 6, 2026, Cenovus Energy Inc. (CVE) generated trailing twelve-month (TTM) revenue of $55.53 billion, reflecting moderate decline in growth of -7.4% year-over-year. The most recent quarter (Q3 2025) recorded $13.20 billion in revenue, up 2.0% sequentially.
Looking at the longer-term picture, CVE's 5-year compound annual growth rate (CAGR) stands at +29.0%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $71.77 billion in 2022.
Revenue diversification analysis shows CVE's business is primarily driven by Upstream (100%). With over half of revenue concentrated in Upstream, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including SU (-3.5% YoY), CNQ (-0.0% YoY), and IMO (-3.7% YoY), CVE has underperformed the peer group in terms of revenue growth. Compare CVE vs SU →
CVE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CVECurrent | $55.5B | -7.4% | +29.0% | 8.8% | |
 SU | $48.9B | -3.5% | +14.7% | 31.7% | |
 CNQ | $38.7B | -0.0% | +17.2% | 21.2% | |
 IMO | $47.0B | -3.7% | +18.0% | 9.0% | |
 MEG | $831M | +19.3% | +20.4% | 1.5% | |
 MPC | $132.7B | -1.4% | +13.7% | 4.3% |
CVE Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $49.66B | -14.0% | $5.19B | 10.5% | $4.38B | 8.8% |
| 2024 | $57.73B | +4.1% | $12.77B | 22.1% | $5.06B | 8.8% |
| 2023 | $55.47B | -22.7% | $12.70B | 22.9% | $5.62B | 10.1% |
| 2022 | $71.77B | +47.0% | $17.13B | 23.9% | $10.35B | 14.4% |
| 2021 | $48.81B | +250.8% | $9.11B | 18.7% | $3.52B | 7.2% |
| 2020 | $13.91B | -32.3% | $-330,000,000 | -2.4% | $0 | - |
| 2019 | $20.54B | -4.0% | $4.48B | 21.8% | $4.15B | 20.2% |
| 2018 | $21.39B | +23.5% | $4.09B | 19.1% | $-1,241,000,000 | -5.8% |
| 2017 | $17.31B | +57.2% | $3.42B | 19.8% | $242.0M | 1.4% |
| 2016 | $11.02B | -4.7% | $1.38B | 12.5% | $-221,000,000 | -2.0% |
Full CVE Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See CVE's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs CVE Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare CVE vs XOM
Side-by-side business, growth, and profitability comparison vs Exxon Mobil Corporation.
Start ComparisonCVE — Frequently Asked Questions
Quick answers to the most common questions about buying CVE stock.
Is CVE's revenue growth accelerating or slowing?
CVE revenue declined -7.4% year-over-year, contrasting with the 5-year CAGR of +29.0%. TTM revenue fell to $55.5B. This reverses the prior growth trend.
What is CVE's long-term revenue growth rate?
Cenovus Energy Inc.'s 5-year revenue CAGR of +29.0% reflects the variable expansion pattern. Current YoY growth of -7.4% is below this long-term average.
How is CVE's revenue distributed by segment?
CVE reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.