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TORONTO STOCK EXCHANGE · Energy · CIK 0001475260
$33.13
-0.12% · delayed ~15 min
Last price from Oct 21, 2026
$62.40B market value
From CENOVUS ENERGY INC.'s FY2025 40-F, filed Feb 19, 2026 · read the filing
CENOVUS ENERGY drills for oil and natural gas. It took in $35.41B last year, which makes it a large company. Of every dollar it sells, about 8 cents is left as profit.
The financial picture is led by debt, with profitability worth watching, while growth remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From CENOVUS ENERGY INC.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Long-term debt
$5.23B → $7.86B
Profit
$2.24B → $2.80B
Earnings per share
$1.23 → $1.49
Revenue
$38.68B → $35.41B
Measured against FY2024, from the 40-F filed Feb 19, 2026
Deteriorated: +50.3%
$5.23B to $7.86BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +25.1%
$2.24B to $2.80BSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote delayed ~15 min), and what was published around it
CVE fell 0.12% on the latest quote. The average Energy company tracked here moved −0.92%, and the S&P 500 −1.04%. That is 0.8 points above its sector and 0.9 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 22 analysts covering this company, as of . Their views, not this site's.
Of 22 analysts publishing on this company, 4 say strong buy, 16 say buy and 2 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 8 cents of every dollar of sales as profit, earning $2.80B last year.
No. Sales shrank 8.4% last year.
No. At its current cash flow it could clear its debt in about 1.0 years. For every $1 it owes, it owns $2.00 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 37 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 17% of the cash its operations generated. It has paid in each of the last 3 years.
GoodFigures from the FY2025 annual filing
Last year it earned $2.80B and generated $5.86B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202540-F · Feb 19, 2026Filing for FY2025 | FY202440-F · Feb 20, 2025Filing for FY2024 | FY202340-F · Feb 20, 2025Filing for FY2023 | FY202240-F · Feb 16, 2023Filing for FY2022 | FY202140-F · Feb 8, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $35.41B | $38.68B | $37.20B | $47.67B | $33.03B | −8.4% |
| Selling, general and administrative | $578.6M | $565.8M | $490.2M | $616.4M | $605.0M | +2.3% |
| Interest expense | $405.4M | $366.3M | $383.4M | $584.3M | $771.0M | +10.7% |
| Income before tax | $3.19B | $2.90B | $3.59B | $6.22B | $937.0M | +10.0% |
| Net income | $2.80B | $2.24B | $2.93B | $4.60B | $418.3M | +25.1% |
| Net marginNet income ÷ revenueWhat is this? | 7.9% | 5.8% | 7.9% | 9.6% | 1.3% | +2.1 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $1.49 | $1.23 | $1.56 | $2.41 | $0.209 | +21.2% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Nothing recent
No insider trades, pending-sale notices or 5% stake filings from CVE in the last few months. That is the ordinary case, not a gap.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Report filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingWrite down why you are following CENOVUS ENERGY INC., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from CVE's 40-F for fiscal year 2025 (period ending 2025-12-31, filed Feb 19, 2026), reported under the IFRS taxonomy. Reported in CAD and shown here in USD, the currency CVE trades in, converted at today's rate of 0.7126. The filing itself is in CAD. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 6.0 | 5/8 | 40-F, filed Feb 19, 2026 |
| FY2024 | 7.3 | 5/8 | 40-F, filed Feb 20, 2025 |
| FY2023 | 6.0 | 6/8 | 40-F, filed Feb 15, 2024 |
| FY2022 | 8.7 | 7/8 | 40-F, filed Feb 16, 2023 |
| FY2021 | 8.7 | 6/8 | 40-F, filed Feb 8, 2022 |
| FY2020 | 2.0 | 3/8 | 40-F, filed Feb 9, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
5 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +21.2%
$1.23 to $1.49Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -8.4%
$38.68B to $35.41BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +2.1 pts
5.8% to 7.9%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -11.4%
$2.20B to $1.95BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +3.2%
1.82B to 1.88BNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Changed: -7.4%
$1.11B to $1.02BNotable
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 2.0% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 22.3x — investors pay $22.3 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
Report filed on Form 6-K
Report filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingAnnual report for FY2025
Revenue -8.4% · Profit margin +2.1 pts · Long-term debt +50.3% — against FY2024
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingPrimary sources and further research