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Cenovus Energy Inc. (CVE) perpetual futures

Cenovus Energy Inc. is an integrated energy company that explores for, extracts, processes and sells crude oil, natural gas liquids and natural gas, with operations in Canada, the United States and Asia Pacific.

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Settlement mix
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Perp/spot vol.
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OI / float
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Spot performance
1D-3.22%
5D-2.05%
1M-4.13%
6M+25.98%
YTD+86.58%
1Y+84.73%

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Company data

Company fundamentals

Updated 1h ago
Market cap
$58.2B
Updated 1h ago
Revenue
$38.4B
Trailing 12 months
Revenue growth
+21%
Next fiscal year
Profit margin
+12.4%
P/E
12.3
Peer P/E 24.4
Free cash flow
$5.4B
Trailing 12 months
More metrics
Net income
$4.8B
Trailing 12 months
P/S
1.5
Peer P/E
24.4
Similar listed perps
Revenue estimate
$42.7B
Next fiscal year
Earnings
2026-10-30
Revenue est. $11B · Updated 1h ago
Dividend
$0.158
2026-09-15

Fundamental detail

Annual + quarterly
Latest revenue$35.4B
Net margin+7.9%
Free cash flow$2.4B
Net debt$10.2B
2020$9.9B
2021$34.8B
2022$51.2B
2023$39.6B
2024$41.2B
2025$35.4B
PeriodRevenueGrowthNet incomeFCF
2020$9.9B-32%-$1.7B-$417.9M
2021$34.8B+251%$418.6M$2.4B
2022$51.2B+47%$4.6B$5.5B
2023$39.6B-23%$2.9B$2.2B
2024$41.2B+4%$2.2B$3B
2025$35.4B-14%$2.8B$2.4B
PeriodGross marginOperating marginNet marginROEROA
2020-2.4%0.0%-17.1%-14.2%-7.3%
2021+18.7%+7.2%+1.2%+2.5%+1.1%
2022+23.9%+14.4%+9.0%+23.4%+11.5%
2023+22.9%+10.1%+7.4%+14.3%+7.6%
2024+22.1%+8.8%+5.4%+10.6%+5.6%
2025+10.5%+8.8%+7.9%+12.4%+6.2%
PeriodCashDebtNet debtCurrent ratio
2020$269.6M$6.6B$6.4B1.26
2021$2B$11B$8.9B1.64
2022$3.2B$8.3B$5.1B1.55
2023$1.6B$7.1B$5.5B1.56
2024$2.2B$7.6B$5.4B1.42
2025$2B$12.1B$10.2B1.57
PeriodMarket capEnterprise valueP/SP/E
2020$6.8B$13.1B0.7-4.0
2021$22.3B$31.3B0.653.5
2022$36.6B$41.7B0.78.0
2023$29.8B$35.3B0.810.4
2024$28.7B$34.1B0.713.0
2025$30B$40.1B0.810.7
Q3 2024$10.2B
Q4 2024$10.8B
Q1 2025$10.1B
Q2 2025$9.2B
Q3 2025$9.4B
Q4 2025$7.8B
Q1 2026$8.8B
Q2 2026$12.4B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$10.2B-2%$584.8M$804.4M
Q4 2024$10.8B+8%$104.1M$392.9M
Q1 2025$10.1B+3%$612.6M$61.3M
Q2 2025$9.2B-16%$606.9M$862.9M
Q3 2025$9.4B-7%$917.1M$696.7M
Q4 2025$7.8B-28%$665.5M$808.7M
Q1 2026$8.8B-13%$1.1B$739.3M
Q2 2026$12.4B+35%$2B$3.1B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+20.6%+7.3%+5.8%+2.8%+1.5%
Q4 2024+18.0%+5.5%+1.0%+0.5%+0.3%
Q1 2025+21.9%+9.0%+6.0%+2.9%+1.5%
Q2 2025+20.0%+5.3%+6.6%+2.9%+1.5%
Q3 2025+23.2%+21.5%+9.7%+4.5%+2.4%
Q4 2025+12.1%+9.9%+8.6%+3.0%+1.5%
Q1 2026+21.9%+18.6%+12.7%+4.8%+2.4%
Q2 2026+25.4%+24.2%+16.5%+8.4%+4.4%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$2.2B$7.1B$4.9B1.59
Q4 2024$2.2B$7.6B$5.4B1.42
Q1 2025$2B$7.7B$5.7B1.46
Q2 2025$1.8B$7.5B$5.7B1.32
Q3 2025$1.4B$7.2B$5.8B1.73
Q4 2025$2B$12.1B$10.2B1.57
Q1 2026$1.8B$9.8B$8B1.57
Q2 2026$2.3B$8.3B$6B1.63
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$29.8B$34.7B2.913.5
Q4 2024$28.4B$33.7B2.676.8
Q1 2025$26B$31.7B2.610.6
Q2 2025$24B$29.7B2.69.8
Q3 2025$30.2B$36B3.28.2
Q4 2025$30.3B$40.4B3.911.4
Q1 2026$49.4B$57.3B5.611.0
Q2 2026$46.7B$52.8B3.85.7

Refreshed 1h ago

Charts: revenue, profit, cash flow & valuation
Revenue$12.4BQ2 2026
$3.1B$6.2B$9.3B$12.4BQ3 2023: $10.4BQ4 2023: $10BQ1 2024: $9.8BQ2 2024: $11BQ3 2024: $10.2BQ4 2024: $10.8BQ1 2025: $10.1BQ2 2025: $9.2BQ3 2025: $9.4BQ4 2025: $7.8BQ1 2026: $8.8BQ2 2026: $12.4BQ3 2023Q2 2026
Net income$2BQ2 2026
$511.9M$1B$1.5B$2BQ3 2023: $1.3BQ4 2023: $529.8MQ1 2024: $838.6MQ2 2024: $713.1MQ3 2024: $584.8MQ4 2024: $104.1MQ1 2025: $612.6MQ2 2025: $606.9MQ3 2025: $917.1MQ4 2025: $665.5MQ1 2026: $1.1BQ2 2026: $2BQ3 2023Q2 2026
EBITDA$4.1BQ2 2026
$1B$2.1B$3.1B$4.1BQ3 2023: $2.8BQ4 2023: $1.7BQ1 2024: $2.1BQ2 2024: $1.9BQ3 2024: $1.7BQ4 2024: $1.1BQ1 2025: $1.9BQ2 2025: $1.7BQ3 2025: $2BQ4 2025: $1.9BQ1 2026: $2.7BQ2 2026: $4.1BQ3 2023Q2 2026
Free cash flow$3.1BQ2 2026
$787.1M$1.6B$2.4B$3.1BQ3 2023: $1.2BQ4 2023: $1.3BQ1 2024: $634MQ2 2024: $1.2BQ3 2024: $804.4MQ4 2024: $392.9MQ1 2025: $61.3MQ2 2025: $862.9MQ3 2025: $696.7MQ4 2025: $808.7MQ1 2026: $739.3MQ2 2026: $3.1BQ3 2023Q2 2026
EPS$1.09Q2 2026
$0.27$0.55$0.82$1.09Q3 2023: $0.69Q4 2023: $0.28Q1 2024: $0.44Q2 2024: $0.38Q3 2024: $0.3Q4 2024: $0.05Q1 2025: $0.34Q2 2025: $0.33Q3 2025: $0.51Q4 2025: $0.35Q1 2026: $0.6Q2 2026: $1.09Q3 2023Q2 2026
Cash / Debt$2.3BQ2 2026
$3B$6.1B$9.1B$12.1BQ3 2023 · Cash: $900MQ3 2023 · Debt: $7.1BQ4 2023 · Cash: $1.6BQ4 2023 · Debt: $7.1BQ1 2024 · Cash: $1.7BQ1 2024 · Debt: $7BQ2 2024 · Cash: $2.2BQ2 2024 · Debt: $7.1BQ3 2024 · Cash: $2.2BQ3 2024 · Debt: $7.1BQ4 2024 · Cash: $2.2BQ4 2024 · Debt: $7.6BQ1 2025 · Cash: $2BQ1 2025 · Debt: $7.7BQ2 2025 · Cash: $1.8BQ2 2025 · Debt: $7.5BQ3 2025 · Cash: $1.4BQ3 2025 · Debt: $7.2BQ4 2025 · Cash: $2BQ4 2025 · Debt: $12.1BQ1 2026 · Cash: $1.8BQ1 2026 · Debt: $9.8BQ2 2026 · Cash: $2.3BQ2 2026 · Debt: $8.3BQ3 2023Q2 2026
CashDebt
Profitability+25.4%Q2 2026
+7.3%+14.5%+21.8%+29.1%Q3 2023 · Gross margin: +29.1%Q4 2023 · Gross margin: +18.8%Q1 2024 · Gross margin: +25.2%Q2 2024 · Gross margin: +23.3%Q3 2024 · Gross margin: +20.6%Q4 2024 · Gross margin: +18.0%Q1 2025 · Gross margin: +21.9%Q2 2025 · Gross margin: +20.0%Q3 2025 · Gross margin: +23.2%Q4 2025 · Gross margin: +12.1%Q1 2026 · Gross margin: +21.9%Q2 2026 · Gross margin: +25.4%Q3 2023 · Operating margin: +27.1%Q4 2023 · Operating margin: +7.0%Q1 2024 · Operating margin: +12.2%Q2 2024 · Operating margin: +9.7%Q3 2024 · Operating margin: +7.3%Q4 2024 · Operating margin: +5.5%Q1 2025 · Operating margin: +9.0%Q2 2025 · Operating margin: +5.3%Q3 2025 · Operating margin: +21.5%Q4 2025 · Operating margin: +9.9%Q1 2026 · Operating margin: +18.6%Q2 2026 · Operating margin: +24.2%Q3 2023 · Net margin: +12.8%Q4 2023 · Net margin: +5.3%Q1 2024 · Net margin: +8.5%Q2 2024 · Net margin: +6.5%Q3 2024 · Net margin: +5.8%Q4 2024 · Net margin: +1.0%Q1 2025 · Net margin: +6.0%Q2 2025 · Net margin: +6.6%Q3 2025 · Net margin: +9.7%Q4 2025 · Net margin: +8.6%Q1 2026 · Net margin: +12.7%Q2 2026 · Net margin: +16.5%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+34.7%Q2 2026
-12.6%+3.1%+18.9%+34.7%Q3 2024: -2.3%Q4 2024: +8.3%Q1 2025: +2.9%Q2 2025: -16.2%Q3 2025: -7.4%Q4 2025: -28.4%Q1 2026: -12.8%Q2 2026: +34.7%Q3 2023Q2 2026
Shares outstanding1.9BQ2 2026
476.3M952.5M1.4B1.9BQ3 2023: 1.9BQ4 2023: 1.9BQ1 2024: 1.9BQ2 2024: 1.9BQ3 2024: 1.9BQ4 2024: 1.9BQ1 2025: 1.8BQ2 2025: 1.8BQ3 2025: 1.8BQ4 2025: 1.9BQ1 2026: 1.9BQ2 2026: 1.9BQ3 2023Q2 2026
Valuation5.7Q2 2026
19.238.457.676.8Q3 2023 · P/E: 7.3Q4 2023 · P/E: 14.1Q1 2024 · P/E: 11.0Q2 2024 · P/E: 12.8Q3 2024 · P/E: 13.5Q4 2024 · P/E: 76.8Q1 2025 · P/E: 10.6Q2 2025 · P/E: 9.8Q3 2025 · P/E: 8.2Q4 2025 · P/E: 11.4Q1 2026 · P/E: 11.0Q2 2026 · P/E: 5.7Q3 2023 · P/S: 3.7Q4 2023 · P/S: 3.0Q1 2024 · P/S: 3.7Q2 2024 · P/S: 3.3Q3 2024 · P/S: 2.9Q4 2024 · P/S: 2.6Q1 2025 · P/S: 2.6Q2 2025 · P/S: 2.6Q3 2025 · P/S: 3.2Q4 2025 · P/S: 3.9Q1 2026 · P/S: 5.6Q2 2026 · P/S: 3.8Q3 2023Q2 2026
P/EP/S
Revenue$35.4B2025
$12.8B$25.6B$38.4B$51.2B2018: $15.3B2019: $14.6B2020: $9.9B2021: $34.8B2022: $51.2B2023: $39.6B2024: $41.2B2025: $35.4B20182025
Net income$2.8B2025
-$277.6M$1.3B$3B$4.6B2018: -$1.9B2019: $1.6B2020: -$1.7B2021: $418.6M2022: $4.6B2023: $2.9B2024: $2.2B2025: $2.8B20182025
EBITDA$7.4B2025
$1.9B$4.6B$7.4B$10.1B2018: -$855.7M2019: $2.8B2020: $549.1M2021: $4.8B2022: $10.1B2023: $7.4B2024: $6.8B2025: $7.4B20182025
Free cash flow$2.4B2025
$1B$2.5B$4B$5.5B2018: $554.1M2019: $1.5B2020: -$417.9M2021: $2.4B2022: $5.5B2023: $2.2B2024: $3B2025: $2.4B20182025
EPS$1.532025
-$0.59$0.37$1.32$2.282018: -$1.552019: $1.272020: -$1.382021: $0.212022: $2.282023: $1.512024: $1.192025: $1.5320182025
Cash / Debt$2B2025
$3B$6.1B$9.1B$12.1B2018 · Cash: $556.9M2018 · Debt: $6.5B2019 · Cash: $132.6M2019 · Debt: $6.1B2020 · Cash: $269.6M2020 · Debt: $6.6B2021 · Cash: $2B2021 · Debt: $11B2022 · Cash: $3.2B2022 · Debt: $8.3B2023 · Cash: $1.6B2023 · Debt: $7.1B2024 · Cash: $2.2B2024 · Debt: $7.6B2025 · Cash: $2B2025 · Debt: $12.1B20182025
CashDebt
Profitability+10.5%2025
-6.9%+3.4%+13.6%+23.9%2018 · Gross margin: +19.1%2019 · Gross margin: +21.8%2020 · Gross margin: -2.4%2021 · Gross margin: +18.7%2022 · Gross margin: +23.9%2023 · Gross margin: +22.9%2024 · Gross margin: +22.1%2025 · Gross margin: +10.5%2018 · Operating margin: -5.8%2019 · Operating margin: +20.2%2020 · Operating margin: 0.0%2021 · Operating margin: +7.2%2022 · Operating margin: +14.4%2023 · Operating margin: +10.1%2024 · Operating margin: +8.8%2025 · Operating margin: +8.8%2018 · Net margin: -12.5%2019 · Net margin: +10.7%2020 · Net margin: -17.1%2021 · Net margin: +1.2%2022 · Net margin: +9.0%2023 · Net margin: +7.4%2024 · Net margin: +5.4%2025 · Net margin: +7.9%20182025
Gross marginOperating marginNet margin
Revenue growth-14.0%2025
+38.5%+109.3%+180.0%+250.8%2019: -4.0%2020: -32.3%2021: +250.8%2022: +47.0%2023: -22.7%2024: +4.1%2025: -14.0%20182025
Shares outstanding1.8B2025
511.3M1B1.5B2B2018: 1.2B2019: 1.2B2020: 1.2B2021: 2B2022: 2B2023: 1.9B2024: 1.9B2025: 1.8B20182025
Valuation10.72025
10.124.639.053.52018 · P/E: -4.42019 · P/E: 7.42020 · P/E: -4.02021 · P/E: 53.52022 · P/E: 8.02023 · P/E: 10.42024 · P/E: 13.02025 · P/E: 10.72018 · P/S: 0.62019 · P/S: 0.82020 · P/S: 0.72021 · P/S: 0.62022 · P/S: 0.72023 · P/S: 0.82024 · P/S: 0.72025 · P/S: 0.820182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-10-30
Revenue est. $11B · Updated 1h ago
Dividend
$0.158
2026-09-15

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20264.66$42.7B+21%6
FY 20273.70$38.6B+9%6
FY 20284.02$40.3B+14%6
FY 20294.31$35.1B-1%3
FY 20304.52$35.3B0%2
Q1 20270.87$9.7B+9%1

Company events

6
2026-10-30EarningsActual - / Estimate 0.89-
2026-09-15Dividend$0.158-
2026-07-29EarningsActual 1.11 / Estimate 1.11In line
2026-06-15Dividend$0.157-
2026-05-06EarningsActual 0.61 / Estimate 0.56Beat
2026-03-13Dividend$0.146-

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
ALAB$58.4B48.6157.0+30.7%17NXPI$58.6B4.419.7+22.6%2MEITUAN$57.7B1.0-10.0-10.1%13LNG$57.6B2.620.4+13.1%1OXY$56.9B2.38.6+28.8%2TER$59.7B13.452.1+25.8%15VALE$60.3B1.528.4+5.2%3NBIS$55.9B41.2895.4+4.5%26

Analyst track record

How the analysts covering CVE have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings53196
Analysts1821
Buy / hold / sell49 / 3 / 1186 / 8 / 2
Upgrades / downgrades / initiations1 / 2 / 14 / 4 / 3
Price targets hit / missed46 / 6 (88%)186 / 6 (97%)
Avg. return after a rating (TipRanks)+29.0%+42.0%
Best / worst call+76.0% / -24.8%+131.5% / -24.8%

After buy calls on this stock: not enough measured cases yet

Latest ratings

DateAnalystCallTarget
May 20, 2026Kevin FiskScotiabankBuyMaintained$34.18article ↗
May 19, 2026Gregory PardyRBC CapitalBuyMaintained$34.18article ↗
May 12, 2026Neil MehtaGoldman SachsBuyReiterated$36.00article ↗
May 6, 2026Patrick O'rourkeATB Cormark Capital MarketsBuyReiterated$30.91article ↗
May 6, 2026Menno HulshofTD CowenBuyMaintained$32.73article ↗

TipRanks data via FMP · computed Sep 22, 2026 · 53 ratings

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