Cenovus Energy (Cenovus Energy) EBIT

: $4,282 Mil (TTM As of Dec. 2023)

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Cenovus Energy's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $848 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $4,282 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Cenovus Energy's annualized ROC % for the quarter that ended in Dec. 2023 was 6.44%. Cenovus Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 11.06%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Cenovus Energy's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 9.61%.

Cenovus Energy EBIT Historical Data

The historical data trend for Cenovus Energy's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cenovus Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

1,476.19

-2,103.21

1,846.09

7,024.66

4,295.62

Cenovus Energy Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT																895.11	570.78	934.07	1,928.90	848.24

Competitive Comparison

For the Oil & Gas Integrated subindustry, Cenovus Energy's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Cenovus Energy EV-to-EBIT Distribution

For the Oil & Gas industry and Energy sector, Cenovus Energy's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Cenovus Energy's EV-to-EBIT falls into.

Cenovus Energy EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $4,282 Mil.

Cenovus Energy (NYSE:CVE) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Cenovus Energy's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	2915.92 * ( 1 - 23.72% )	/	( (34427.611	+	34616.13)	/ 2 )
=	2224.263776	/	34521.8705
=	6.44 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	40223.93	-	4863.646	-	( 932.673	-	max(0, 5324.81	-	7941.024	+	932.673	))
=	34427.611

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	40187.09	-	3911.002	-	( 1659.958	-	max(0, 4628.801	-	7236.136	+	1659.958	))
=	34616.13

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Cenovus Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3392.964	/	( ( (29015.594 + max(1828.393, 0))	+	(29567.68 + max(940.669, 0)) )	/	2 )
=	3392.964	/	( ( 30843.987	+	30508.349 )	/	2 )
=	3392.964	/	30676.168
=	11.06 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3350.824	+	3559.234	+	0)	-	(4863.646	+	0	+	218.019)
=	1828.393

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2028.921	+	3003.876	+	180.382)	-	(3911.002	+	0	+	361.508)
=	940.669

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Cenovus Energy's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	4281.992	/	44564.466
	=	9.61 %

Cenovus Energy EBIT Related Terms

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Cenovus Energy (Cenovus Energy) Business Description

Industry

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Traded in Other Exchanges

CXD:Germany CXD:Germany CVE.PR.B.PFD:Canada CVE.PR.A.PFD:Canada CVE.PR.C.PFD:Canada CVE.PR.G.PFD:Canada CVE.PR.E.PFD:Canada CVE:Canada

Address

225 - 6 Avenue SW, Suite 4100, Calgary, AB, CAN, T2P 1N2

Website

https://www.cenovus.com

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 786 thousand barrels of oil equivalent per day in 2022. The company had upstream projects across Western Canada; crude oil production and natural gas and NGLs production offshore China and Indonesia. The downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada.