CVE vs NOA
Cenovus Energy Inc. and North American Construction Group Ltd., side by side — 10 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | CVE | NOA |
|---|---|---|
| Revenue | CAD 49.7B | CAD 1.3B |
| Net income | CAD 3.9B | CAD 33.8M |
| Gross margin | · | 12.6% |
| Net margin | 7.9% | 2.6% |
| Return on equity | 12.8% | 8.0% |
| Diluted EPS | CAD 2.15 | CAD 1.14 |
| Dividend / share | CAD 0.78 | CAD 0.48 |
| Payout ratio | 36.6% | 39.6% |
| Free cash flow | · | CAD -17.0M |
| Equity | · | CAD 456.6M |
| Net debt / equity | 0.26× | 1.42× |
| Current ratio | 1.57× | 0.88× |
| Revenue CAGR 5y | 29.7% | 20.8% |
| Profit CAGR 5y | · | −7.2% |
CVE bills 38.7× the revenue of NOA, and keeps more of each dollar of revenue as profit (7.9% against 2.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | CVE | NOA |
|---|---|---|
| FY2025 | CAD 49.7B | CAD 1.3B |
| FY2024 | CAD 54.3B | CAD 1.2B |
| FY2023 | CAD 52.2B | CAD 964.7M |
| FY2022 | CAD 66.9B | CAD 769.5M |
| FY2021 | CAD 46.4B | CAD 654.1M |
| FY2020 | CAD 13.5B | CAD 498.5M |
| FY2019 | CAD 20.5B | CAD 719.1M |
| FY2018 | CAD 20.8B | CAD 410.1M |
| FY2017 | CAD 17.0B | CAD 292.6M |
| FY2016 | CAD 11.0B | CAD 213.2M |
Bottom line
| Fiscal year | CVE | NOA |
|---|---|---|
| FY2025 | CAD 3.9B | CAD 33.8M |
| FY2024 | CAD 3.1B | CAD 44.0M |
| FY2023 | CAD 4.1B | CAD 63.1M |
| FY2022 | CAD 6.5B | CAD 67.4M |
| FY2021 | CAD 587.0M | CAD 51.4M |
| FY2020 | CAD -2.4B | CAD 49.2M |
| FY2019 | CAD 2.2B | CAD 36.9M |
| FY2018 | CAD -2.7B | CAD 15.3M |
| FY2017 | CAD 3.4B | CAD 5.3M |
| FY2016 | CAD -545.0M | CAD -445,000 |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CAD 48,411,709,000 | CVE |
| FY2024 | +CAD 53,111,213,000 | CVE |
| FY2023 | +CAD 51,239,320,000 | CVE |
| FY2022 | +CAD 66,127,461,000 | CVE |
| FY2021 | +CAD 45,702,857,000 | CVE |
| FY2020 | +CAD 13,044,532,000 | CVE |
| FY2019 | +CAD 19,822,933,000 | CVE |
| FY2018 | +CAD 20,432,939,000 | CVE |
| FY2017 | +CAD 16,750,443,000 | CVE |
| FY2016 | +CAD 10,792,820,000 | CVE |
| FY2015 | +CAD 11,247,718,000 | CVE |
CVE has reported the higher revenue in every one of these 11 fiscal years. The gap has widened since the earliest year compared.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +5.3 pp | CVE |
| FY2024 | +2.0 pp | CVE |
| FY2023 | +1.3 pp | CVE |
| FY2022 | +0.9 pp | CVE |
| FY2021 | −6.6 pp | NOA |
| FY2020 | −27.4 pp | NOA |
| FY2019 | +5.5 pp | CVE |
| FY2018 | −16.5 pp | NOA |
| FY2017 | +18.0 pp | CVE |
| FY2016 | −4.7 pp | NOA |
| FY2015 | +8.0 pp | CVE |
The higher net margin has changed hands between CVE and NOA over this period.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
CVE's net margin has been more volatile than NOA's over the 11 comparable fiscal years — 10.4 percentage points of standard deviation against 3.7.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between CVE and NOA over these 11 fiscal years — CVE led in 7 and NOA in 4.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
CVE's return on equity has been more volatile than NOA's over the 11 comparable fiscal years — 12.4 percentage points of standard deviation against 9.3.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between CVE and NOA over these 11 fiscal years — CVE led in 4 and NOA in 7.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.