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Cenovus Energy Inc (CVE) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · OIL & GAS INTEGRATED · DATA UPDATED 2026-07-20

Cenovus Energy Inc (CVE) operates in the OIL & GAS INTEGRATED industry and is headquartered in Calgary, Canada with about 7,211 employees. Its market capitalization is roughly $55 billion. In the fiscal year ended 2025-12-31, CVE reported $49.7B in revenue and $3.9B in net income.

Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China. It operates through Upstream and Downstream segments.

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CVE Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Revenue	$49.4B	$49.7B	$57.7B	$55.5B	$71.8B	$48.8B	$13.9B	$20.5B	$21.4B	$17.3B	$11.0B	$11.6B	$20.1B	$19.0B	$17.2B	$16.2B	$13.1B	$11.5B	$20.2B
Gross Profit	$9.7B	$5.2B	$12.8B	$12.7B	$17.1B	$9.1B	($330M)	$4.5B	$4.1B	$3.4B	$1.4B	$1.3B	$4.3B	$4.4B	$4.2B	$3.9B	$2.7B	$4.3B	$6.8B
Gross Margin %	19.6%	10.5%	22.1%	22.9%	23.9%	18.7%	-2.4%	21.8%	19.1%	19.8%	12.6%	11.7%	21.2%	22.9%	24.6%	24.4%	20.8%	36.9%	34.0%
Operating Income (EBIT)	$6.9B	$4.4B	$5.1B	$5.6B	$10.4B	$3.5B	($2.6B)	$4.2B	($1.2B)	$242M	($221M)	($363M)	$1.7B	$2.0B	$2.1B	$2.2B	$1.2B	$1.4B	$4.0B
Operating Margin %	14.0%	8.8%	8.8%	10.1%	14.4%	7.2%	-18.6%	20.2%	-5.8%	1.4%	-2.0%	-3.1%	8.4%	10.7%	12.2%	13.6%	8.8%	12.2%	20.0%
Net Income	$4.6B	$3.9B	$3.1B	$4.1B	$6.5B	$587M	($2.4B)	$2.2B	($2.7B)	$3.4B	($545M)	$618M	$744M	$662M	$995M	$1.5B	$1.1B	$818M	$2.9B
Net Margin %	9.4%	7.9%	5.4%	7.4%	9.0%	1.2%	-17.1%	10.7%	-12.5%	19.4%	-5.0%	5.3%	3.7%	3.5%	5.8%	9.1%	8.3%	7.1%	14.3%
EBITDA	$11.5B	$10.4B	$9.6B	$10.4B	$14.2B	$6.7B	$770M	$4.0B	($1.2B)	$4.9B	$1.1B	$3.4B	$3.6B	$3.4B	$3.8B	$3.9B	$3.1B	$2.9B	$5.6B
Earnings Per Share (EPS)	$2.52	$2.16	$1.69	$2.13	$3.22	$0.29	$-1.94	$1.78	$-2.17	$3.05	$-0.65	$0.75	$0.98	$0.87	$1.31	$1.95	$1.43	$1.09	$3.83
Shares Outstanding (M)	1,879M	1,820M	1,863M	1,925M	2,006M	2,045M	1,229M	1,229M	1,229M	1,102M	833M	819M	758M	758M	758M	758M	754M	751M	752M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CVE Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$12.4B	$10.9B	$13.2B	$12.9B	$14.2B	$15.2B	$14.2B	$15.4B
Gross Profit	$2.7B	$1.3B	$3.1B	$2.6B	$3.1B	$2.7B	$2.9B	$3.6B
Gross Margin %	21.9%	12.1%	23.2%	20.1%	21.9%	18.0%	20.6%	23.3%
Operating Income (EBIT)	$2.3B	$1.1B	$2.8B	$690M	$1.3B	$841M	$1.0B	$1.5B
Operating Margin %	18.6%	9.9%	21.5%	5.3%	9.0%	5.5%	7.3%	9.7%
Net Income	$1.6B	$933M	$1.3B	$851M	$859M	$146M	$820M	$1.0B
Net Margin %	12.7%	8.6%	9.8%	6.6%	6.0%	1.0%	5.8%	6.5%
EBITDA	$3.8B	$2.6B	$2.7B	$2.4B	$2.6B	$1.6B	$2.4B	$2.7B
Earnings Per Share (EPS)	$0.84	$0.50	$0.72	$0.46	$0.47	$0.08	$0.44	$0.53
Shares Outstanding (M)	1,879M	1,864M	1,793M	1,831M	1,831M	1,863M	1,863M	1,870M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CVE Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Cash from Operations (CFO)	$9.1B	$8.2B	$9.2B	$7.4B	$11.4B	$5.9B	$273M	$3.3B	$2.2B	$3.1B	$861M	$1.5B	$3.5B	$3.5B	$3.4B	$3.3B	$2.6B	$3.7B	$3.3B
Capital Expenditures (CapEx)	$4.7B	$4.8B	$5.0B	$4.3B	$3.8B	$2.6B	$859M	$1.2B	$1.4B	$1.7B	$1.0B	$1.7B	$3.1B	$3.3B	$3.4B	$2.8B	$2.2B	$2.2B	$2.5B
Free Cash Flow (FCF)	$4.4B	$3.4B	$4.2B	$3.1B	$7.6B	$3.4B	($586M)	$2.1B	$777M	$1.4B	($173M)	($240M)	$468M	$270M	($29M)	$481M	$383M	$1.5B	$780M
FCF Margin %	8.8%	6.9%	7.3%	5.6%	10.7%	6.9%	-4.2%	10.2%	3.6%	8.0%	-1.6%	-2.1%	2.3%	1.4%	-0.2%	3.0%	2.9%	13.0%	3.9%
Dividends Paid	$1.5B	$1.4B	$1.6B	$1.0B	$927M	$210M	$77M	$260M	$245M	$225M	$166M	$528M	$805M	$732M	$665M	$603M	$601M	$159M	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CVE Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$2.2B	$2.4B	$2.1B	$2.4B	$1.3B	$2.0B	$2.5B	$2.8B
Capital Expenditures (CapEx)	$1.1B	$1.3B	$1.2B	$1.2B	$1.2B	$1.5B	$1.3B	$1.2B
Free Cash Flow (FCF)	$1.0B	$1.1B	$977M	$1.2B	$86M	$551M	$1.1B	$1.7B
FCF Margin %	8.4%	10.4%	7.4%	9.3%	0.6%	3.6%	7.9%	10.7%
Dividends Paid	$380M	$380M	$356M	$368M	$333M	$348M	$338M	$594M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CVE Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Assets	$65.0B	$63.4B	$56.5B	$53.9B	$55.9B	$54.1B	$32.8B	$35.7B	$35.2B	$40.9B	$25.3B	$25.8B	$24.7B	$25.2B	$24.2B	$22.2B	$22.1B	$21.5B	$22.5B
Cash & Cash Equivalents	$2.6B	$2.7B	$3.1B	$2.2B	$4.5B	$2.9B	$378M	$186M	$781M	$610M	$3.7B	$4.1B	$883M	$2.5B	$1.2B	$495M	$300M	$155M	$186M
Total Liabilities	$32.4B	$31.8B	$26.8B	$25.2B	$28.3B	$30.5B	$16.1B	$16.5B	$17.7B	$21.0B	$13.7B	$13.4B	$14.5B	$15.3B	$14.4B	$12.8B	$12.1B	$11.9B	$13.0B
Total Debt (Short + Long-Term)	$11.0B	$11.4B	$8.1B	$7.6B	$9.1B	$12.7B	$7.7B	$6.9B	$9.2B	$9.5B	$6.3B	$6.5B	$9.4B	$11.9B	$6.2B	$5.3B	$5.6B	$6.0B	$5.9B
Total Shareholders' Equity	$32.6B	$31.6B	$29.8B	$28.7B	$27.6B	$23.6B	$16.7B	$19.2B	$17.5B	$20.0B	$11.6B	$12.4B	$10.2B	$9.9B	$9.8B	$9.4B	$10.0B	$9.6B	$9.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive CVE viewer.

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