Stock CVE CENOVUS ENERGY INC.
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Financials Cenovus Energy Inc.

Equities

CVE

CA15135U1093

Integrated Oil & Gas

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
29.32 CAD +0.79% Intraday chart for Cenovus Energy Inc. +2.20% +32.79%
Apr. 26 Cenovus subsidiary fined $1.83 mln for 2018 Canada oil spill RE
Apr. 24 North American Morning Briefing : Tesla Surges, More Big-Tech Earnings in Spotlight DJ

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 16,221 9,524 31,294 50,409 41,415 54,685 - -
Enterprise Value (EV) 1 24,650 18,465 40,885 54,691 46,475 58,716 58,353 59,275
P/E ratio 7.42 x -3.99 x 57.4 x 8.21 x 10.4 x 10.8 x 10.1 x 9.81 x
Yield 1.61% 0.81% 0.56% 1.33% 2.38% 1.96% 2.19% 2.32%
Capitalization / Revenue 0.76 x 0.7 x 0.68 x 0.75 x 0.79 x 0.97 x 0.97 x 0.98 x
EV / Revenue 1.15 x 1.36 x 0.88 x 0.82 x 0.89 x 1.04 x 1.03 x 1.06 x
EV / EBITDA 6.07 x 13.7 x 4.34 x 3.64 x 4.53 x 5.05 x 4.71 x 5.18 x
EV / FCF 11.7 x -25.9 x 12.2 x 7.11 x 15 x 11.7 x 11 x 9.86 x
FCF Yield 8.53% -3.86% 8.21% 14.1% 6.65% 8.55% 9.12% 10.1%
Price to Book 0.84 x 0.57 x 1.32 x 1.82 x 1.44 x 1.77 x 1.66 x 1.6 x
Nbr of stocks (in thousands) 1,228,828 1,228,870 2,017,677 1,918,887 1,875,669 1,865,106 - -
Reference price 2 13.20 7.750 15.51 26.27 22.08 29.32 29.32 29.32
Announcement Date 2/12/20 2/9/21 2/8/22 2/16/23 2/15/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 21,353 13,591 46,357 66,897 52,204 56,214 56,536 55,849
EBITDA 1 4,064 1,351 9,410 15,031 10,266 11,638 12,383 11,445
EBIT 1 1,815 -2,113 3,524 10,352 5,622 6,085 6,557 6,082
Operating Margin 8.5% -15.55% 7.6% 15.47% 10.77% 10.83% 11.6% 10.89%
Earnings before Tax (EBT) 1 1,397 -3,230 1,315 8,731 5,040 6,125 6,503 5,896
Net income 1 2,194 -2,379 587 6,450 4,109 4,686 4,803 4,422
Net margin 10.27% -17.5% 1.27% 9.64% 7.87% 8.34% 8.49% 7.92%
EPS 2 1.780 -1.940 0.2700 3.200 2.120 2.713 2.907 2.989
Free Cash Flow 1 2,102 -712 3,356 7,695 3,090 5,021 5,325 6,012
FCF margin 9.84% -5.24% 7.24% 11.5% 5.92% 8.93% 9.42% 10.77%
FCF Conversion (EBITDA) 51.72% - 35.66% 51.19% 30.1% 43.14% 43% 52.53%
FCF Conversion (Net income) 95.81% - 571.72% 119.3% 75.2% 107.15% 110.87% 135.98%
Dividend per Share 2 0.2125 0.0625 0.0875 0.3500 0.5250 0.5734 0.6416 0.6797
Announcement Date 2/12/20 2/9/21 2/8/22 2/16/23 2/15/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 13,431 12,293 17,383 20,747 18,697 14,063 12,858 12,868 15,712 13,134 14,743 15,460 14,232 14,897 -
EBITDA 1 2,731 2,501 5,424 6,594 4,361 2,645 1,903 2,806 5,081 2,248 2,563 3,303 2,999 3,224 2,622
EBIT 1 1,578 -151 4,394 5,462 3,314 1,175 798 1,734 3,884 978 1,391 1,784 1,588 1,625 1,428
Operating Margin 11.75% -1.23% 25.28% 26.33% 17.72% 8.36% 6.21% 13.48% 24.72% 7.45% 9.44% 11.54% 11.16% 10.91% -
Earnings before Tax (EBT) 1 834 -149 2,168 3,273 2,253 1,037 593 1,048 2,425 974 1,251 1,648 1,455 1,493 1,320
Net income 1 551 -408 1,625 2,432 1,609 784 636 866 1,864 743 926.5 1,221 1,078 1,107 957.3
Net margin 4.1% -3.32% 9.35% 11.72% 8.61% 5.57% 4.95% 6.73% 11.86% 5.66% 6.28% 7.9% 7.57% 7.43% -
EPS 2 0.2700 -0.2100 0.7900 1.190 0.8100 0.3900 0.3200 0.4400 0.9700 0.3900 0.4570 0.7438 0.6863 0.6917 0.6042
Dividend per Share 2 0.0175 0.0350 0.0350 0.1050 0.1050 0.1050 0.1050 0.1400 0.1400 0.1400 0.1400 0.1435 0.1435 0.1435 0.1470
Announcement Date 11/3/21 2/8/22 4/27/22 7/28/22 11/2/22 2/16/23 4/26/23 7/27/23 11/2/23 2/15/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 8,429 8,941 9,591 4,282 5,060 4,031 3,668 4,590
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.074 x 6.618 x 1.019 x 0.2849 x 0.4929 x 0.3464 x 0.2962 x 0.4011 x
Free Cash Flow 1 2,102 -712 3,356 7,695 3,090 5,021 5,325 6,012
ROE (net income / shareholders' equity) 12% -13.3% 4.07% 24.6% 14.6% 15.6% 17% 14.4%
ROA (Net income/ Total Assets) 6.19% -6.95% 1.35% 11.7% 7.49% 8.83% 10.4% -
Assets 1 35,444 34,241 43,449 54,987 54,892 53,098 46,367 -
Book Value Per Share 2 15.60 13.60 11.80 14.40 15.30 16.60 17.70 18.30
Cash Flow per Share 2 3.030 0.1200 3.490 5.400 4.570 5.610 5.920 5.880
Capex 1 1,183 859 2,563 3,708 4,298 4,787 4,810 4,144
Capex / Sales 5.54% 6.32% 5.53% 5.54% 8.23% 8.52% 8.51% 7.42%
Announcement Date 2/12/20 2/9/21 2/8/22 2/16/23 2/15/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Cenovus Energy Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
29.32 CAD
Average target price
32.92 CAD
Spread / Average Target
+12.29%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Integrated Oil & Gas

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Integrated Oil & Gas
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