Cenovus Energy (Cenovus Energy) Gross Profit : $9,318 Mil (TTM As of Dec. 2023)

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What is Cenovus Energy Gross Profit?

Cenovus Energy's gross profit for the three months ended in Dec. 2023 was $1,971 Mil. Cenovus Energy's gross profit for the trailing twelve months (TTM) ended in Dec. 2023 was $9,318 Mil.

Gross Margin % is calculated as gross profit divided by its revenue. Cenovus Energy's gross profit for the three months ended in Dec. 2023 was $1,971 Mil. Cenovus Energy's Revenue for the three months ended in Dec. 2023 was $10,462 Mil. Therefore, Cenovus Energy's Gross Margin % for the quarter that ended in Dec. 2023 was 18.84%.

Cenovus Energy had a gross margin of 18.84% for the quarter that ended in Dec. 2023 => No sustainable competitive advantage

During the past 13 years, the highest Gross Margin % of Cenovus Energy was 23.88%. The lowest was -2.37%. And the median was 19.44%.

Cenovus Energy Gross Profit Historical Data

The historical data trend for Cenovus Energy's Gross Profit 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.

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Cenovus Energy Gross Profit Chart

Cenovus Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Profit

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3,280.43

-257.63

7,114.84

12,612.44

9,469.29

Cenovus Energy Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Profit	Get a 7-Day Free Trial															2,173.72	1,835.86	2,114.26	3,396.65	1,970.78

Competitive Comparison of Cenovus Energy's Gross Profit

For the Oil & Gas Integrated subindustry, Cenovus Energy's Gross Profit, along with its competitors' market caps and Gross Profit 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's Gross Profit Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Cenovus Energy's Gross Profit distribution charts can be found below:

* The bar in red indicates where Cenovus Energy's Gross Profit falls into.

Cenovus Energy Gross Profit Calculation

Gross Profit is the different between the sale prices and the cost of buying or producing the goods.

Cenovus Energy's Gross Profit for the fiscal year that ended in Dec. 2023 is calculated as

Gross Profit (A: Dec. 2023 )	=	Revenue	-	Cost of Goods Sold
	=	41349.135	-	31879.845
	=	9,469

Cenovus Energy's Gross Profit for the quarter that ended in Dec. 2023 is calculated as

Gross Profit (Q: Dec. 2023 )	=	Revenue	-	Cost of Goods Sold
	=	10462.135	-	8491.354
	=	1,971

Gross Profit 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 $9,318 Mil.

Gross Profit is the numerator in the calculation of Gross Margin.

Cenovus Energy's Gross Margin % for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	1,971	/	10462.135
	=	18.84 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Cenovus Energy (NYSE:CVE) Gross Profit Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Cenovus Energy had a gross margin of 18.84% for the quarter that ended in Dec. 2023 => No sustainable competitive advantage

Cenovus Energy Gross Profit Related Terms

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Cenovus Energy (Cenovus Energy) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Cenovus Energy Inc (NYSE:CVE) » Definitions » Gross Profit

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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.