A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 40-F for FY2025, filed Feb 19, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CVE SEC filings page.
Cenovus Energy Inc. (CVE) reported $36.2B in revenue for fiscal year 2025, down 3.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Cenovus Energy Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cenovus Energy Inc.'s revenue declined 3.8% year-over-year, from $37.7B to $36.2B. This contraction results in a growth score of 32/100.
Cenovus Energy Inc. carries a low D/E ratio of 0.35, meaning only $0.35 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.
Cenovus Energy Inc.'s current ratio of 1.57 indicates adequate short-term liquidity, earning a score of 60/100. The company can meet its near-term obligations, though with limited headroom.
Not available for Cenovus Energy Inc., so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
Cenovus Energy Inc.'s ROE of 12.4% shows moderate profitability relative to equity, earning a score of 58/100. This is up from 10.6% the prior year.
Cenovus Energy Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.
For every $1 of reported earnings, Cenovus Energy Inc. generates $2.09 in operating cash flow ($6.0B OCF vs $2.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Cenovus Energy Inc. earned $0.36 per diluted share (EPS) in Q4 2025. This represents an increase of 555.8% from the same quarter a year earlier. Against the prior quarter it is down 29.5%.
Not reported for Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Cash & Balance Sheet
Cenovus Energy Inc. held $2.0B in cash against $8.0B in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
CVE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q3'256-K | Q4'2440-F | Q3'246-K | Q4'2340-F | Q3'236-K | Q4'2240-F | Q3'226-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $9.5B-7.4% | N/A | $10.2B-5.0% | N/A | $10.8B-15.2% | N/A | $12.7B+26.8% |
| Interest Expense | N/A | $53.9M-4.3% | N/A | $56.3M-19.0% | N/A | $69.4M-21.1% | N/A | $88.0M-23.6% |
| Income Tax | N/A | $7.9M-94.8% | N/A | $151.0M-63.6% | N/A | $414.5M-11.5% | N/A | $468.3M+109.7% |
| Net Income | N/A | $923.4M+52.1% | N/A | $606.9M-55.9% | N/A | $1.4B+17.7% | N/A | $1.2B+169.1% |
| EPS (Basic) | $0.37+568.9% | $0.52+58.7% | $0.06-81.2% | $0.33-55.0% | $0.30-4.8% | $0.72+20.0% | $0.31n/m | $0.60+183.2% |
| EPS (Diluted) | $0.36+555.8% | $0.52+66.3% | $0.06-81.7% | $0.31-56.6% | $0.300.0% | $0.72+21.7% | $0.30n/m | $0.59+176.4% |
| Diluted Shares (Avg) | N/A | 1.79B-3.8% | N/A | 1.86B-2.2% | N/A | 1.91B-3.7% | N/A | 1.98B-3.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
CVE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q3'256-K | Q4'2440-F | Q3'246-K | Q4'2340-F | Q3'236-K | Q4'2240-F | Q3'226-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $46.3B+17.8% | $38.5B-5.0% | $39.3B-3.9% | $40.5B+0.6% | $40.8B-1.1% | $40.2B | $41.3B-2.5% | N/A |
| Current Assets | $7.2B-0.5% | $7.0B-6.9% | $7.2B-1.5% | $7.5B-5.1% | $7.4B-19.9% | $7.9B | $9.2B-2.1% | N/A |
| Cash & Equivalents | $2.0B-7.0% | $1.4B-40.6% | $2.1B+27.3% | $2.3B+146.4% | $1.7B-49.5% | $932.4M-63.3% | $3.3B+48.7% | $2.5B+60.2% |
| Inventory | $2.4B-21.8% | $2.2B-26.0% | $3.1B+2.3% | $3.0B-14.8% | $3.1B-4.2% | $3.6B | $3.2B+3.9% | N/A |
| Accounts Receivable | $2.5B+38.0% | $3.4B+65.3% | $1.8B-21.0% | $2.0B-39.2% | $2.3B-10.4% | $3.3B | $2.6B-15.3% | N/A |
| Goodwill | $2.1B+4.6% | $2.1B-3.0% | $2.0B-8.3% | $2.2B+0.2% | $2.2B+2.5% | $2.2B | $2.2B-20.5% | N/A |
| Total Liabilities | $23.2B+24.7% | $18.1B-2.6% | $18.6B-2.6% | $18.6B-1.9% | $19.1B-8.7% | $18.9B | $20.9B-12.4% | N/A |
| Current Liabilities | $4.6B-9.9% | $4.1B-14.1% | $5.1B+8.7% | $4.7B-11.3% | $4.7B-20.6% | $5.3B | $5.9B+3.7% | N/A |
| Non-Current Liabilities | $18.6B+37.8% | $14.0B+1.4% | $13.5B-6.3% | $13.8B+1.8% | $14.4B-3.9% | $13.6B | $15.0B-17.5% | N/A |
| Long-Term Debt | $8.0B+57.8% | $5.1B-1.1% | $5.1B-5.3% | $5.2B-2.7% | $5.4B-16.2% | $5.3B | $6.4B-33.7% | N/A |
| Total Equity | $23.1B+11.6% | $20.4B-7.0% | $20.7B-4.9% | $21.9B+2.9% | $21.7B+6.7% | $21.3B+5.5% | $20.4B+10.3% | $20.2B+5.0% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Retained Earnings.
CVE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q3'256-K | Q4'2440-F | Q3'246-K | Q4'2340-F | Q3'236-K | Q4'2240-F | Q3'226-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.8B+24.6% | $1.5B-16.4% | $1.4B-36.9% | $1.8B-9.5% | $2.2B+1.7% | $2.0B-32.0% | $2.2B+28.4% | $3.0B+76.2% |
| Depreciation & Amortization | $1.0B+17.6% | $949.2M+5.3% | $850.7M-11.6% | $901.5M+1.9% | $962.0M-11.4% | $884.4M+16.2% | $1.1B-47.7% | $761.3M-16.3% |
| Investing Cash Flow | -$2.7Bn/m | -$944.9Mn/m | -$1.1Bn/m | -$968.1Mn/m | -$969.6Mn/m | -$813.4Mn/m | -$864.6Mn/m | -$501.7Mn/m |
| Financing Cash Flow | $1.6Bn/m | -$1.1Bn/m | -$514.6Mn/m | -$869.7Mn/m | -$484.0Mn/m | -$1.9Bn/m | -$554.2Mn/m | -$2.8Bn/m |
| Dividends Paid | $277.1M+14.7% | $255.6M+2.2% | $241.7M | $250.2M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
CVE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q3'256-K | Q4'2440-F | Q3'246-K | Q4'2340-F | Q3'236-K | Q4'2240-F | Q3'226-K |
|---|---|---|---|---|---|---|---|---|
| Net Margin | N/A | 9.8%+3.8pp | N/A | 5.9%-6.9pp | N/A | 12.8%+3.6pp | N/A | 9.2%+4.9pp |
| Return on Equity | N/A | 4.5%+1.8pp | N/A | 2.8%-3.7pp | N/A | 6.5%+0.7pp | N/A | 5.8%+3.5pp |
| Return on Assets | N/A | 2.4%+0.9pp | N/A | 1.5%-1.9pp | N/A | 3.4% | N/A | N/A |
| Current Ratio | 1.57+0.1x | 1.73+0.1x | 1.42-0.1x | 1.59+0.1x | 1.560.0x | 1.49 | 1.55-0.1x | N/A |
| Debt-to-Equity | 0.35+0.1x | 0.250.0x | 0.250.0x | 0.240.0x | 0.25-0.1x | 0.25 | 0.32-0.2x | N/A |
| Liabilities-to-Equity | 1.01+0.1x | 0.890.0x | 0.900.0x | 0.850.0x | 0.88-0.1x | 0.89 | 1.03-0.3x | N/A |
| Asset Turnover | N/A | 0.250.0x | N/A | 0.250.0x | N/A | 0.27 | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Cenovus Energy Inc. CVE | FY2025 | $36.2B | $2.9B | 7.9% | $61.1B | 54/100 |
| Imperial Oil Limited IMO | FY2025 | $34.3B | $2.4B | 6.9% | $65.6B | 59/100 |
| Suncor Energy, Inc. SU | FY2025 | $38.2B | $4.3B | 11.3% | $92.4B | 64/100 |
| Equinor ASA EQNR | FY2025 | $106.5B | $5.0B | 4.7% | $109.2B | 65/100 |
Where Cenovus Energy Inc. Ranks
Frequently Asked Questions
What is Cenovus Energy Inc.'s annual revenue?
Cenovus Energy Inc. (CVE) reported $36.2B in total revenue for fiscal year 2025. This represents a -3.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cenovus Energy Inc.'s revenue growing?
Cenovus Energy Inc. (CVE) revenue declined by 3.8% year-over-year, from $37.7B to $36.2B in fiscal year 2025.
Is Cenovus Energy Inc. profitable?
Yes, Cenovus Energy Inc. (CVE) reported a net income of $2.9B in fiscal year 2025, with a net profit margin of 7.9%.
How much debt does Cenovus Energy Inc. have?
As of fiscal year 2025, Cenovus Energy Inc. (CVE) had $2.0B in cash and equivalents against $8.0B in long-term debt.
What is Cenovus Energy Inc.'s net profit margin?
Cenovus Energy Inc. (CVE) had a net profit margin of 7.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cenovus Energy Inc.'s return on equity (ROE)?
Cenovus Energy Inc. (CVE) has a return on equity of 12.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cenovus Energy Inc.'s operating cash flow?
Cenovus Energy Inc. (CVE) generated $6.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cenovus Energy Inc.'s total assets?
Cenovus Energy Inc. (CVE) had $46.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Cenovus Energy Inc.'s current ratio?
Cenovus Energy Inc. (CVE) had a current ratio of 1.57 as of fiscal year 2025, which is generally considered healthy.
What is Cenovus Energy Inc.'s debt-to-equity ratio?
Cenovus Energy Inc. (CVE) had a debt-to-equity ratio of 0.35 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Cenovus Energy Inc.'s liabilities-to-equity ratio?
Cenovus Energy Inc. (CVE) had a liabilities-to-equity ratio of 1.01 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Cenovus Energy Inc.'s return on assets (ROA)?
Cenovus Energy Inc. (CVE) had a return on assets of 6.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cenovus Energy Inc.'s P/E ratio?
Cenovus Energy Inc. (CVE) trades at 21.3x earnings, its market capitalization divided by $2.9B net income, FY2025. The market capitalization is $61.1B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cenovus Energy Inc.'s price-to-sales ratio?
Cenovus Energy Inc. (CVE) trades at 1.7x sales, its market capitalization divided by $36.2B revenue, FY2025. The market capitalization is $61.1B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cenovus Energy Inc.'s Piotroski F-Score?
Cenovus Energy Inc. (CVE) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cenovus Energy Inc.'s earnings high quality?
Cenovus Energy Inc. (CVE) has an earnings quality ratio of 2.09x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Cenovus Energy Inc.?
Cenovus Energy Inc. (CVE) scores 54 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Cenovus Energy Inc. it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.