# Cenovus Energy Inc (CVE.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Energy / Oil, Gas & Consumable Fuels. Price C$44.83, market value C$82.7 billion.

## Valuation
- **P/E (trailing): 12.5×** (5-yr avg 17.5×, 3-yr avg 10.9×). Cenovus Energy Inc trades at 12.5× trailing earnings, well below its own five-year average of 17.5×: cheap by its own standards. The Energy median in the September 2026 study was 16.8×. Forward P/E is 12.2×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.43**. A PEG of 0.43 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 1.5×**. Each dollar of revenue is priced at 1.5×.
- **Price / book: 2.4×**. The shares trade at 2.4× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 6.4×**. Enterprise value is 6.4× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 9.2%** (5-yr avg 11.0%). Free cash flow equals 9.2% of the market value, in line with its five-year average of 11.0%. Above 5% is generally attractive.
- **Earnings yield: 8.0%**. The inverse of the P/E: 8.0% of the price is earned each year.

## Profitability
- **Gross margin: 23.4%**. Cenovus Energy Inc keeps 23.4% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 18.9%**. 18.9% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 7.9%**. 7.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.4%**. 12.4% on shareholders' equity is solid.
- **Return on invested capital: 19.4%**. Return on all capital, debt included, is 19.4%: comfortably above what that capital costs.
- **Return on assets: 10.5%**. Each dollar of assets produces 10.5% of profit.

## Growth
- **Revenue growth (1 yr): -8.4%** (3-yr -9.4%/yr, 5-yr 29.7%/yr). Revenue fell 8.4% over the last year, against 29.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 28.7%** (3-yr -12.4%/yr). Earnings per share rose 28.7%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -23.6%/yr**. Free cash flow has compounded at -23.6% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.45**. Debt is 0.45 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.8×**. It would take 0.8 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 19.0×**. Operating profit covers interest 19.0× over, a safe margin.
- **Current ratio: 1.57** (quick 1.04). Current assets cover the next year's liabilities 1.57 times.
- **Altman Z-score: 3.34**. A Z-score of 3.34 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 1.96%** (C$0.82 per share, trailing). Cenovus Energy Inc yields 1.96%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 37%** (20% of free cash flow). 37% of earnings goes out as dividends, leaving room to keep raising it.
- **Dividend growth (5 yr): 65.4%/yr** (1-yr -4.3%). The dividend has compounded at 65.4% a year over five years, doubling roughly every 1 years at that pace.
- **Shareholder yield: 6.1%**. Dividends plus net buybacks return 6.1% of the market value a year.

## Analyst view
- **Analyst consensus: strong_buy** (17 analysts). 17 analysts cover Cenovus Energy Inc; the consensus is strong_buy, with an average price target of C$50.03 (+12% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 102.3%** (YTD 95.4%, 3-mo 14.4%). The shares are up 102.3% over twelve months including dividends.
- **From 52-week high: -2.8%** (107.4% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 59**. An RSI of 59 is neutral.
- **Beta (1 yr): 0.01** (volatility 36%). Beta of 0.01 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CVE.TO · Page: https://foliofundamentals.com/stocks/cve.to

Not investment advice.