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Cenovus EnergyTSX:CVE -1.36%59 Earnings Yield (Joel Greenblatt) % is 7.65% as of Mar. 2026, which is 5% above its 10-year median of 7.26. GuruFocus rates TSX:CVE with a GF Score™ of 59/100 and a GF Value™ of C$22.13 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,036 Oil & Gas companies, Cenovus Energy ranks better than 61% on this metric.
Cenovus Energy's Enterprise Value for the quarter that ended in Mar. 2026 was C$80,289 Mil.
Cenovus Energy's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was C$6,137 Mil. Cenovus Energy's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 7.65%.
The historical rank and industry rank for Cenovus Energy's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
TSX:CVE'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -16.18 Med: 7.26 Max: 19.24
Current: 6.96
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Cenovus Energy was 19.24%. The lowest was -16.18%. And the median was 7.26%.
TSX:CVE's Earnings Yield (Joel Greenblatt) % is ranked better than 61% of 1036
companies
in the Oil & Gas industry
Industry Median: 4.835
vs TSX:CVE: 6.96
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Cenovus Energy's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 18.54%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Cenovus Energy (TSX:CVE) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Cenovus Energy Earnings Yield (Joel Greenblatt) % Related Terms
Cenovus Energy Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Cenovus Energy's Earnings Yield (Joel Greenblatt) % 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.
Cenovus Energy Earnings Yield (Joel Greenblatt) % Chart
TSX:CVE vs XOM, CVX: Earnings Yield (Joel Greenblatt) % Comparison
For the Oil & Gas Integrated subindustry, Cenovus Energy's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Cenovus Energy's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Cenovus Energy's Earnings Yield (Joel Greenblatt) % falls into.
Cenovus Energy Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Cenovus Energys Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Cenovus Energy's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$6,137 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 7.65% mean?
Cenovus Energy (TSX:CVE) has a Earnings Yield (Joel Greenblatt) % of 7.65% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Cenovus Energy and its competitors. This is near median its historical median of 7.26. According to the industry distribution chart, Cenovus Energy ranks #404 out of 1036 companies in the Oil & Gas industry, placing it in the top 39%.
Is Cenovus Energy's Earnings Yield (Joel Greenblatt) % too high?
Cenovus Energy's current Earnings Yield (Joel Greenblatt) % of 7.65% is near median its 10-year median of 7.26. The Oil & Gas industry median Earnings Yield (Joel Greenblatt) % is 4.84. Cenovus Energy's value of 7.65% is 58.2% above this industry median. Based on the distribution chart, Cenovus Energy ranks #404 out of 1036 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Cenovus Energy has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cenovus Energy's Earnings Yield (Joel Greenblatt) % compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Cenovus Energy ranks #404 out of 1036 companies for Earnings Yield (Joel Greenblatt) %. This puts Cenovus Energy in the upper half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 4.84. Cenovus Energy's value of 7.65% is 58.2% above this benchmark. While the company's 10-year median is 7.26 vs. the industry median of 4.84, Cenovus Energy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for an Oil & Gas company?
The median Earnings Yield (Joel Greenblatt) % among Oil & Gas companies is 4.84, based on 1,036 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cenovus Energy's current Earnings Yield (Joel Greenblatt) % of 7.65% is 58.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Cenovus Energy and its competitors. For the Oil & Gas industry, the median Earnings Yield (Joel Greenblatt) % is 4.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cenovus Energy's current Earnings Yield (Joel Greenblatt) % is 7.65%, which is near median its own 10-year median of 7.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cenovus Energy stock overvalued right now?
Based on GuruFocus' analysis, Cenovus Energy (TSX:CVE) is currently considered Significantly Overvalued. The stock's GF Value™ is C$22.13, compared to a current price of C$41.30 — trading 86.6% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 7.65%, which is near median its 10-year median of 7.26 and 58.2% above the Oil & Gas industry median of 4.84. Cenovus Energy's overall GF Score™ is 59/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Cenovus Energy (TSX:CVE), the current Earnings Yield (Joel Greenblatt) % is 7.65% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cenovus Energy (TSX:CVE) Overvalued in 2026?
Based on GuruFocus' analysis, Cenovus Energy stock appears to be overvalued.
The current stock price of C$41.30 is trading 86.6% above its estimated GF Value™ of C$22.13.
GuruFocus considers Cenovus Energy to be Significantly Overvalued.
Key valuation signals for TSX:CVE:
Earnings Yield (Joel Greenblatt) %: 7.65% (near median its 10-year median of 7.26)
GF Value™: C$22.13 vs. price of C$41.30 (86.6% above fair value)
Industry Position: 58.2% above the Oil & Gas median (#404 of 1036)
No single metric tells the full story. See the TSX:CVE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cenovus Energy Inc is a Canadian integrated energy group. The group's upstream operations include oil sands projects in northern Alberta; thermal and conventional crude oil, natural gas, and natural gas liquids (NGLs) projects across Western Canada; crude oil production offshore Newfoundland and Labrador; and natural gas and NGLs production offshore China and Indonesia. Its downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada. The group's reportable segments are: Oil Sands, Conventional, Offshore, Canadian Refining, U.S Refining, and Corporate and Eliminations. Maximum revenue is generated from its Oil Sands segment. Geographically, the group derives maximum revenue from the U.S., followed by Canada and China.
59GF Score
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