Cenovus Energy Inc.

Cenovus Energy Inc.

45.15
CAD
-1.39
(-2.99%)
3.61EPS
9.71P/E
65.08BMarket Cap
Nov 04Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
25.13
26.56
14.12
13.22
15.7
17.41
17.67
11.32
24.21
36.78
29.27
31.2
29.15
32.44
Basic EPS, GAAP
0.88
0.98
0.75
-0.65
3.05
-2.17
1.79
-1.94
0.27
3.29
2.15
1.68
2.16
3.62
Free Cash Flow per Basic Share
4.68
4.66
1.8
1.03
2.77
1.75
2.67
0.22
2.94
5.82
3.9
4.99
4.55
6.73
Dividend per Share
0.97
1.06
0.64
0.2
0.2
0.2
0.21
0.06
0.1
0.48
0.54
0.84
0.79
0.83
Book Value per Share
13.16
13.45
14.87
13.91
16.26
14.22
15.63
13.6
11.53
14.17
15.05
16.13
16.73
18.49
Tangible Book Value per Share
12.18
13.13
14.58
13.62
14.41
12.36
13.69
11.67
9.76
12.63
13.49
14.52
15.17
16.92
Basic Weighted Avg Shares
756
757
819
833
1,103
1,229
1,229
1,229
2,016
1,951
1,895
1,850
1,810
1,836
Sales/Revenue/Turnover
18,993
20,107
11,559
11,015
17,314
21,389
21,715
13,914
48,811
71,765
55,474
57,726
52,751
59,560
Operating Margin (%)
10.69
8.42
-3.14
-2.01
1.4
-5.8
8.38
-19.17
7.22
14.42
10.13
8.77
8.77
15.6
Depreciation Expense
1,833
1,946
2,114
1,498
2,030
2,131
2,249
3,464
4,322
4,679
4,644
4,871
5,192
5,650
Net Income, GAAP
662
744
618
-545
3,366
-2,669
2,194
-2,379
587
6,450
4,109
3,142
3,930
6,660
Effective Tax Rate (%)
39.49
37.74
- -
- -
- -
- -
- -
- -
55.36
26.13
18.47
22.82
12.22
20.31
Profit Margin (%)
3.49
3.7
5.35
-4.95
19.44
-12.48
10.1
-17.1
1.2
8.99
7.41
5.44
7.45
11.18
Working Capital
1,831
1,238
4,615
4,151
572
595
763
617
4,683
4,409
3,498
3,072
3,576
4,622
LT Debt
4,997
5,458
6,525
6,332
9,513
8,482
8,419
9,014
15,070
11,219
9,467
9,910
13,838
11,248
Total Equity
9,946
10,186
12,391
11,590
19,981
17,468
19,201
16,707
23,608
27,589
28,712
29,769
31,638
34,214
Return on Invested Capital (%)
8.22
5.39
- -
- -
- -
- -
- -
- -
3.87
20.22
11.24
9.67
9.07
16.97
Return on Capital (%)
6.56
6.6
- -
- -
- -
- -
- -
- -
3.24
18.02
12.06
9.22
10.46
16.93
Return on Common Equity (%)
6.71
7.39
5.47
-4.55
21.32
-14.25
11.97
-13.25
2.78
25.59
14.75
10.79
12.86
20.96

Capital Structure

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
369
374
383
LT Borrowings
11,032
10,633
8,558
LT Finance Leases
2,806
2,745
2,690
Preferred Equity and Hybrid Capital
113
- -
- -
Shares Outstanding
1,883
1,872
1,850
Market Capitalization
43,733
69,096
65,084

Working Capital

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
9,890
11,477
11,976
Cash, Cash Equivalents & STI
2,740
2,575
3,170
Accounts Receivable, Net
3,046
4,734
4,411
Inventories
3,349
4,127
4,359
Total Current Liabilities
6,314
7,330
7,354
Payables & Accruals
5,756
6,956
6,971
ST Debt
369
374
383
Deferred Revenue
- -
- -
- -

Growth Rates

CAD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.25%
14.44%
6.28%
Free Cash Flow
228.4%
427.82%
-10.9%
Net Income, GAAP
-63.63%
167.88%
25.08%
Sales/Revenue/Turnover
31.22%
54.11%
-8.62%
Total Cash Common Dividend
50.49%
118.67%
-6.07%

Quarterly Revenue

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
13,810
15,441
13,819
15,195
57,726
2025
14,205
12,940
13,195
13,938
52,751
2026
13,339
19,088
- -
- -
- -

Quarterly Earnings Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.62
0.53
0.44
0.08
1.68
2025
0.47
0.47
0.72
0.51
2.16
2026
0.84
1.54
- -
- -
- -

Quarterly Dividends Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.15
0.32
0.18
0.19
0.84
2025
0.18
0.2
0.2
0.21
0.79
2026
0.2
0.22
- -
- -
- -

Company Description

CEO
Jonathan M. McKenzie
Full Time Employees
7,211
Sector
Energy minerals
Industry
Integrated oil
Address
4100, 225 – 6 Avenue SW Calgary AB Canada T2P 0M5
IPO Date
Sep 12, 2009
Business
Cenovus Energy Inc. is a Canadian-based integrated energy company that develops, produces, refines, transports and markets crude oil, bitumen, natural gas, natural gas liquids and refined petroleum products primarily in Canada and the Asia Pacific region, with upgrading, refining and marketing operations in Canada and the United States. Headquartered in Calgary, Alberta, and founded in 2009 through the split of Encana Corporation, the company operates across Oil Sands, Conventional, Offshore, Canadian Refining and U.S. Refining segments; its core products and services include transportation fuels such as gasoline, diesel and jet fuel distributed to wholesale, commercial and retail customers across North America; high-quality asphalt including performance grade and polymer-modified variants produced at refineries in Canada and the U.S.; ethanol from wheat and corn at Western Canadian plants; drilling and completion fluids as one of the largest producers in Western Canada; natural gas for heating, power and manufacturing; petcoke as a solid fuel for power plants; sulphur for fertilizers, mining and chemicals; and commercial cardlock services through a network of over 160 Esso sites offering fleet fuel programs. Cenovus targets industrial, utility, petrochemical, consumer and commercial markets with refining capacity around 711,000 barrels per day and focuses on SAGD oil sands production emphasizing low steam-to-oil ratios in high-quality resources like Christina Lake. In 2025, the company completed its C$7.9 billion acquisition of MEG Energy Corp., consolidating adjacent Christina Lake assets to create one of Canada's largest oil sands producers with combined output exceeding 720,000 barrels per day, over C$400 million in anticipated annual synergies by 2028, and plans to boost production above 850,000 barrels per day; it also substantially completed the Foster Creek optimization project with four new steam generators online, acquired an 8.5% stake in MEG ahead of the deal, amended the agreement with increased pricing, redeemed Series 5 and Series 3 Preferred Shares, and announced its 2025 capital budget and 2026 guidance incorporating the acquisition.

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