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Cenovus Energy (CVE)
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Cenovus Energy Income Statement 2025-2011 | CVE
Brief overview of income trends at Cenovus Energy
This overview is based on financial performance over the past five years. Revenue at Cenovus Energy moved from 13.5 billion Canadian dollars in 2020 to 49.7 billion Canadian dollars in 2025. The five-year change reached +266.9%, while CAGR stood at 29.7%. This pace points to rapid expansion of the business.
EBITDA changed from 3.5 billion Canadian dollars to 5.2 billion Canadian dollars (+49.9%). EBITDA lagged revenue, showing weaker operating momentum. The EBITDA share of revenue changed from 25.6% to 10.4%. A lower EBITDA share weakens the quality of the result.
Across the five years, the net result shifted from −2.4 billion Canadian dollars to 3.9 billion Canadian dollars. The company restored profitability by the end of the period.
The market value of the business moved from 7.2 billion Canadian dollars to 40.3 billion Canadian dollars, or +459.6%. A large part of future progress may already be reflected in the valuation.
Conclusion
The figures do not all move in the same direction. The financial profile benefits from net-income growth and sales growth. The most visible risks are pressure on operating profitability. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Cenovus Energy
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
40.3 B | 27.1 B | 33.4 B | 37.7 B | 29.2 B | 7.2 B | 10.4 B | 9.11 B | 9.85 B | 11.3 B | 10.1 B | 14.3 B | 19.8 B | 25.4 B | 27.5 B |
Shares |
1.81 B | 1.85 B | 1.9 B | 1.95 B | 2.02 B | 1.23 B | 1.23 B | 1.23 B | 1.1 B | 833 M | 819 M | 757 M | 756 M | 756 M | 754 M |
Historical Prices |
22.3 | 14.7 | 17.6 | 19.3 | 14.5 | 5.86 | 8.46 | 7.41 | 8.93 | 12.6 | 11.1 | 16.3 | 21.9 | 27 | 28.9 |
Net Income |
3.93 B | 3.14 B | 4.11 B | 6.45 B | 587 M | -2.38 B | 2.19 B | -2.67 B | 3.37 B | -545 M | 618 M | 744 M | 662 M | 993 M | 1.48 B |
Revenue |
49.7 B | 54.3 B | 52.2 B | 66.9 B | 46.4 B | 13.5 B | 20.5 B | 20.8 B | 17 B | 12.3 B | 13.2 B | 20.1 B | 19 B | 17.2 B | 15.7 B |
Gross Profit |
- | - | - | - | - | 200 M | 9.5 B | 9.97 B | 7.17 B | 3.66 B | 3.58 B | 6.74 B | 6.42 B | 6.03 B | 3.8 B |
EBITDA |
5.19 B | 4.87 B | 4.64 B | 4.68 B | 5.89 B | 3.46 B | 2.25 B | 2.13 B | 2.03 B | 1.06 B | 1.16 B | 3.54 B | 3.8 B | 3.69 B | 3.87 B |
Operating Expenses |
6.34 B | 6.84 B | 6.35 B | 5.82 B | 4.72 B | 1.96 B | 2.09 B | 2.18 B | 1.95 B | 4.09 B | 4.53 B | 5.17 B | 4.49 B | 4.02 B | 1.34 B |
General and Administrative Expenses |
812 M | 794 M | 688 M | 865 M | 849 M | 274 M | 336 M | 391 M | 308 M | 326 M | 335 M | 358 M | 349 M | 352 M | - |
Annual performance
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All numbers in CAD currency
Quarterly Income Statement Cenovus Energy
| 2025-Q4 | 2025-Q3 | 2024-Q4 | 2024-Q3 | 2023-Q4 | 2023-Q3 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
1.81 B | 1.79 B | 1.85 B | 1.85 B | 1.9 B | 1.89 B | - | - | - | - | - | 2.04 B | - | - | - | 1.23 B | - | - | - | 1.23 B | 1.23 K | - | - | - | 1.23 K | - | - | - | 1.11 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
3.93 B | 1.29 B | 3.14 B | 820 M | 4.11 B | 1.86 B | - | - | - | - | - | 551 M | - | - | - | -194 M | - | - | - | 187 M | 1.78 B | - | - | - | -418 M | - | - | - | 2.62 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Revenue |
49.7 B | 13.2 B | 54.3 B | 14.2 B | 52.2 B | 14.6 B | - | - | - | - | - | 12.7 B | - | - | - | 3.66 B | - | - | - | 4.74 B | 5.6 B | - | - | - | 5.83 B | - | - | - | 4.04 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
5.19 B | 1.32 B | 4.87 B | 1.22 B | 4.64 B | 1.2 B | - | - | - | - | - | 1.15 B | - | - | - | 1.09 B | - | - | - | 558 M | 544 M | - | - | - | 559 M | - | - | - | 477 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Expenses |
6.34 B | 1.59 B | 6.84 B | 1.74 B | 6.35 B | 1.55 B | - | - | - | - | - | 1.15 B | - | - | - | 481 M | - | - | - | 529 M | 530 M | - | - | - | 535 M | - | - | - | 509 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
812 M | 220 M | 794 M | 172 M | 688 M | 292 M | - | - | - | - | - | 158 M | - | - | - | 51 M | - | - | - | 72 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in CAD currency
The income statement is one of the three key financial reports of a company Cenovus Energy (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.