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MARKETS / NYSE / CVE
NYSE · CRUDE PETROLEUM & NATURAL GAS

Cenovus Energy Inc. CVE

11 fiscal years on record · CAD · FY2025 reported · SEC filings only
CAD 49.7B
▼ 8.4% YoY
CAD 3.9B
▲ 25.1% YoY
In brief

What this company does

Cenovus runs integrated upstream and downstream operations that reach from crude oil, natural gas and NGLs production through to the sale of finished products such as transportation fuels. It counted 7,211 full-time equivalent employees as at December 31, 2025. Its reportable segments are Oil Sands, Conventional and Offshore upstream, and Canadian Refining and U.S. Refining downstream. Oil Sands develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan, at assets that include Foster Creek, Sunrise, Christina Lake and the Lloydminster thermal and conventional heavy oil properties. Conventional holds assets rich in NGLs and natural gas in Alberta and British Columbia together with interests in natural gas processing facilities, while Offshore covers operations, exploration and development off the east coast of Canada and in the Asia Pacific region. Canadian Refining operates the Lloydminster upgrading and asphalt refining complex, the Bruderheim crude-by-rail terminal and two ethanol plants, and U.S. Refining refines crude oil into gasoline, diesel, jet fuel, asphalt and other products at three wholly-owned refineries.

Written from the business description in CENOVUS ENERGY INC.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth
CAD 49.7B
Revenue, FY2025 · full 11-year series below
Revenue CAD B Net income CAD B
FY2025 · Revenue 49.7 · Net income 3.9
25.0B50.0B201520172019202120232025
Compound annual growth
−9.4%
+29.7%
+15.7%
−15.2%
+20.3%
−12.4%
+10.7%
+113.7%
+20.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +29.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Net 7.9%
5%10%15%-5%-10%-15%201520172019202120232025
ROE

Not available in our data for this period.

Cash & shareholders
CAD 3.4B
returned in FY2025 · dividends + net buybacks
Free cash flow CAD B
FY2020 · FCF -0.5
0.8B1.6B-0.2B-0.4B201520172019202120232025
Net buybacks CAD B Dividends CAD B
FY2025 · Dividends 1.4 · Net buybacks 2.0
2BDividendsNet buybacks201520172019202120232025

CAD 1.4B in dividends and CAD 2.0B in buybacks — 87% of the year's profit went back to shareholders.

Total assetsCAD 63.4B
CashCAD 2.7B
Gross debtCAD 11.0B
Net debtCAD 8.3B
Current ratio1.57×

Not available: we don't have the shareholders' equity figure for this period.

The 11-year record
11 fiscal years
Every figure from documents filed with the SEC · CAD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015
Revenue CAD B49.754.352.266.946.413.520.520.817.011.011.5
Operating income CAD B···········
EBITDA CAD B···········
Income tax CAD B0.50.90.92.30.7−0.9−0.8−1.0−0.1−0.3−0.0
Net income CAD B3.93.14.16.50.6−2.42.2−2.73.4−0.50.6
Free cash flow CAD B·····−0.52.20.81.5−0.1−0.1
EPS, diluted CAD 2.151.672.093.200.27−1.941.78····
Dividend / sh CAD 0.780.680.53···0.210.200.200.200.85
Payout %374925··−312−97−3085
ROE %···········
Shares out B·····1.231.231.231.230.830.83

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 38 reconciliationsAUDITED

Reconciled in 11 of 19 fiscal years. 38 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityCrude Petroleum & Natural Gas
Listed onNYSE
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2015

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