Zacks Investment Research·11h ago
BP Streamlines Portfolio Through Bay du Nord Stake Sale to EQNRBP optimizes its upstream portfolio by selling the Bay du Nord stake, sharpening capital allocation while focusing on higher-value investments.
Cenovus Energy Inc.(CVE)Earnings, Financials & Key Ratios
CVE•NYSE
$25.21
16.7× P/E·Price updated Jul 7, 2026
AboutCenovus Energy Inc., together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan. This segments Foster Creek, Christina Lake, Sunrise, and Tucker oil sands projects, as well as Lloydminster thermal and conventional heavy oil assets The Conventional segment holds assets primarily located in Elmworth-Wapiti, Kaybob-Edson, Clearwater, and Rainbow Lake operating in Alberta and British Columbia, as well as interests in various natural gas processing facilities. The offshore segment engages in the exploration and development activities. The Canadian Manufacturing segment includes the owned and operated Lloydminster upgrading and asphalt refining complex, which upgrades heavy oil and bitumen into synthetic crude oil, diesel fuel, asphalt, and other ancillary products, as well as owns and operates the Bruderheim crude-by-rail terminal and two ethanol plants. The U.S. Manufacturing segment comprises the refining of crude oil to produce diesel, gasoline, jet fuel, asphalt, and other products. The Retail segment consists of marketing of its own and third-party refined petroleum products through retail, commercial, and bulk petroleum outlets, as well as wholesale channels. Cenovus Energy Inc. was founded in 2009 and is headquartered in Calgary, Canada.Show more
- Revenue$49.66B-14.0%
- EBITDA$9.81B-1.2%
- Net Income$3.93B+25.0%
- EPS (Diluted)2.15+28.7%
- Gross Margin10.46%-52.7%
- EBITDA Margin19.76%+14.8%
- Operating Margin8.82%+0.6%
- Net Margin7.91%+45.3%
- ROE12.79%+19.1%
CVE Price & Volume
Cenovus Energy Inc. (CVE) stock price & volume — 10-year historical chart
Loading chart...
Integrated Operational Volatility Masks Cash Flow Potential
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Decelerating
Profitability:Moderate
Financial:Healthy
Cash Flow:Stable
Primary Risk:Commodity price and spread volatility
Key Thesis Takeaways
- Cenovus Energy maintains a complex integrated model that remains highly sensitive to North American crude oil price differentials, as evidenced by the 12.8% year-over-year revenue decline in 2026Q1.
- While the company has demonstrated improved operating leverage with $2.3 billion in operating income, the reliance on capital-intensive thermal assets requires consistent reinvestment, often limiting free cash flow margins which fluctuated between 0.6% and 12.7% over the last ten quarters.
- Investors should monitor the sustainability of shareholder returns, as aggressive capital allocation through dividends and buybacks frequently exceeds $1 billion per quarter despite the inherent volatility in earnings quality.
Verdict Logic
while the forward P/E of 5.51 suggests potential value, the high sensitivity of free cash flow margins—which dropped to 0.6% in 2025Q1—warrants caution regarding the company's ability to sustain aggressive capital returns during commodity downturns.
CVE Growth Metrics
Cenovus Energy Inc. (CVE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years15.69%
5 Years28.97%
3 Years-11.55%
TTM-16.4%
Profit CAGR
10 Years20.31%
5 Years-
3 Years-15.25%
TTM64.4%
EPS CAGR
10 Years11.11%
5 Years-
3 Years-12.42%
TTM68.42%
Return on Capital
10 Years7.82%
5 Years12.29%
3 Years10.15%
Last Year8.25%
CVE Recent Earnings
Cenovus Energy Inc. (CVE) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$0.61+8.9%
$0.56
Rev
$8.5B-10.6%
$9.5B
Q1 2026
Feb 19, 2026Metric
Actual
Est
EPS
$0.36+28.6%
$0.28
Rev
$9.4B+9.0%
$8.6B
Q4 2025
Oct 31, 2025Metric
Actual
Est
EPS
$0.52+30.0%
$0.40
Rev
$9.5B-14.3%
$11.0B
Q3 2025
Jul 31, 2025Metric
Actual
Est
EPS
$0.33+135.7%
$0.14
Rev
$9.0B-20.6%
$11.4B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.61vs $0.56+8.9% | $8.5Bvs $9.5B-10.6% |
| Q1 2026 | Feb 19, 2026 | $0.36vs $0.28+28.6% | $9.4Bvs $8.6B+9.0% |
| Q4 2025 | Oct 31, 2025 | $0.52vs $0.40+30.0% | $9.5Bvs $11.0B-14.3% |
| Q3 2025 | Jul 31, 2025 | $0.33vs $0.14+135.7% | $9.0Bvs $11.4B-20.6% |
Based on last 12 quarters of dataView full earnings history →
Latest CVE News
Recent stock market news and headlines for Cenovus Energy Inc. (CVE)
Zacks Investment Research·1 day ago
Cenovus' Integrated Structure Offers an Edge Amid Lower Oil PricesCVE's refining and pipeline network gives it an edge in a lower oil price environment, helping cushion upstream pressure and support margins.
Zacks Investment Research·1 day ago
Why Cenovus Energy (CVE) is a Top Growth Stock for the Long-TermWondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.
Zacks Investment Research·5 days ago
Pick These 5 Bargain Stocks With Alluring EV-to-EBITDA RatiosCVE, FIVN, PAGS, ERO and PARR stand out with attractive EV-to-EBITDA ratios and strong earnings outlooks.
Zacks Investment Research·6 days ago
Is Cenovus Energy (CVE) Stock Undervalued Right Now?Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Peers Comparison
Key metrics vs top competitors for Cenovus Energy Inc. (CVE)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $25.21 | $47.48B | 16.66 | -13.98% | 7.91% | 12.79% | 2.18% | |
| $53.57 | $63.58B | 15.70 | -3.51% | 12.17% | 14.02% | — | |
| $40.69 | $84.88B | 11.21 | 23.87% | 23.84% | 24.56% | — | |
| $116.57 | $57.96B | 25.57 | -8.61% | 6.13% | 13.38% | — | |
| $15.64 | $565.7M | -111.71 | 19.26% | 0.71% | 1.26% | — | |
| $266.33 | $77.75B | 20.07 | -4.44% | 3.41% | 19.57% | — |
Compare CVE vs Peers
Cenovus Energy Inc. (CVE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Get notified when CVE posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
CVE Frequently Asked Questions
Cenovus Energy Inc. (CVE) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Cenovus Energy Inc.'s revenue?
Cenovus Energy Inc. (CVE) reported $49.40B in revenue for fiscal year 2025. This represents a 145% increase from $20.15B in 2008.
How fast is Cenovus Energy Inc. growing?
Cenovus Energy Inc. (CVE) saw revenue decline by 14.0% over the past year.
Is CVE profitable?
Yes, Cenovus Energy Inc. (CVE) is profitable, generating $4.64B in net income for fiscal year 2025 (7.9% net margin).
Dividend & Returns
Does CVE pay dividends?
Yes, Cenovus Energy Inc. (CVE) pays a dividend with a yield of 2.18%. This makes it attractive for income-focused investors.
What is CVE's return on equity?
Cenovus Energy Inc. (CVE) has a return on equity (ROE) of 12.8%. This is reasonable for most industries.
What is Cenovus Energy Inc.'s free cash flow?
Cenovus Energy Inc. (CVE) generated $4.36B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.