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 2024-05-23 pm EDT 		5-day change 1st Jan Change
27.4 CAD +0.15% Intraday chart for Cenovus Energy Inc. +0.70% +24.09%
May. 02 Cenovus Energy's Price Target Lifted to C$33 from C$32 by RBC Capital Markets MT
May. 02 RBC Raises Price Target on Cenovus Energy to CA$33 From CA$32, Keeps Outperform Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 16,221 9,524 31,294 50,409 41,415 50,817 - -
Enterprise Value (EV) 1 24,650 18,465 40,885 54,691 46,475 54,459 54,491 55,389
P/E ratio 7.42 x -3.99 x 57.4 x 8.21 x 10.4 x 9.59 x 8.61 x 7.93 x
Yield 1.61% 0.81% 0.56% 1.33% 2.38% 2.71% 2.71% 2.92%
Capitalization / Revenue 0.76 x 0.7 x 0.68 x 0.75 x 0.79 x 0.86 x 0.84 x 0.92 x
EV / Revenue 1.15 x 1.36 x 0.88 x 0.82 x 0.89 x 0.92 x 0.9 x 1 x
EV / EBITDA 6.07 x 13.7 x 4.34 x 3.64 x 4.53 x 4.62 x 4.53 x 4.84 x
EV / FCF 11.7 x -25.9 x 12.2 x 7.11 x 15 x 10.7 x 9.55 x 9 x
FCF Yield 8.53% -3.86% 8.21% 14.1% 6.65% 9.35% 10.5% 11.1%
Price to Book 0.84 x 0.57 x 1.32 x 1.82 x 1.44 x 1.62 x 1.53 x 1.48 x
Nbr of stocks (in thousands) 1,228,828 1,228,870 2,017,677 1,918,887 1,875,669 1,857,330 - -
Reference price 2 13.20 7.750 15.51 26.27 22.08 27.36 27.36 27.36
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 58,920 60,403 55,354
EBITDA 1 4,064 1,351 9,410 15,031 10,266 11,799 12,020 11,444
EBIT 1 1,815 -2,113 3,524 10,352 5,622 6,594 6,800 6,081
Operating Margin 8.5% -15.55% 7.6% 15.47% 10.77% 11.19% 11.26% 10.99%
Earnings before Tax (EBT) 1 1,397 -3,230 1,315 8,731 5,040 6,878 6,816 5,892
Net income 1 2,194 -2,379 587 6,450 4,109 5,259 5,313 4,419
Net margin 10.27% -17.5% 1.27% 9.64% 7.87% 8.93% 8.8% 7.98%
EPS 2 1.780 -1.940 0.2700 3.200 2.120 2.853 3.179 3.449
Free Cash Flow 1 2,102 -712 3,356 7,695 3,090 5,091 5,709 6,155
FCF margin 9.84% -5.24% 7.24% 11.5% 5.92% 8.64% 9.45% 11.12%
FCF Conversion (EBITDA) 51.72% - 35.66% 51.19% 30.1% 43.15% 47.49% 53.78%
FCF Conversion (Net income) 95.81% - 571.72% 119.3% 75.2% 96.8% 107.45% 139.3%
Dividend per Share 2 0.2125 0.0625 0.0875 0.3500 0.5250 0.7405 0.7419 0.8000
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 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 2025 Q2
Net sales 1 12,293 17,383 20,747 18,697 14,063 12,858 12,868 15,712 13,134 16,431 15,460 14,232 14,897 - -
EBITDA 1 2,501 5,424 6,594 4,361 2,645 1,903 2,806 5,081 2,248 2,881 3,227 2,817 2,892 2,665 2,697
EBIT 1 -151 4,394 5,462 3,314 1,175 798 1,734 3,884 978 1,686 1,951 1,711 1,657 1,471 1,501
Operating Margin -1.23% 25.28% 26.33% 17.72% 8.36% 6.21% 13.48% 24.72% 7.45% 10.26% 12.62% 12.02% 11.13% - -
Earnings before Tax (EBT) 1 -149 2,168 3,273 2,253 1,037 593 1,048 2,425 974 1,554 1,903 1,485 1,561 1,360 1,392
Net income 1 -408 1,625 2,432 1,609 784 636 866 1,864 743 1,176 1,410 1,097 1,156 986 1,009
Net margin -3.32% 9.35% 11.72% 8.61% 5.57% 4.95% 6.73% 11.86% 5.66% 7.16% 9.12% 7.71% 7.76% - -
EPS 2 -0.2100 0.7900 1.190 0.8100 0.3900 0.3200 0.4400 0.9700 0.3900 0.6200 0.7649 0.6311 0.6196 0.6125 0.6720
Dividend per Share 2 0.0350 0.0350 0.1050 0.1050 0.1050 0.1050 0.1400 0.1400 0.1400 0.1400 0.1800 0.1800 0.1800 0.1600 0.2285
Announcement Date 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 5/1/24 - - - - -
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 3,642 3,674 4,572
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.074 x 6.618 x 1.019 x 0.2849 x 0.4929 x 0.3087 x 0.3057 x 0.3995 x
Free Cash Flow 1 2,102 -712 3,356 7,695 3,090 5,091 5,709 6,155
ROE (net income / shareholders' equity) 12% -13.3% 4.07% 24.6% 14.6% 16.1% 16.8% 14.2%
ROA (Net income/ Total Assets) 6.19% -6.95% 1.35% 11.7% 7.49% 8.99% 9.98% -
Assets 1 35,444 34,241 43,449 54,987 54,892 58,494 53,262 -
Book Value Per Share 2 15.60 13.60 11.80 14.40 15.30 16.90 17.90 18.50
Cash Flow per Share 2 3.030 0.1200 3.490 5.400 4.570 5.580 5.950 7.020
Capex 1 1,183 859 2,563 3,708 4,298 4,760 4,809 4,180
Capex / Sales 5.54% 6.32% 5.53% 5.54% 8.23% 8.08% 7.96% 7.55%
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
27.36 CAD
Average target price
33.54 CAD
Spread / Average Target
+22.57%
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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