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Cenovus EnergyTSX:CVE +2.43%60 EV-to-EBITDA is 7.34 as of Jul. 20, 2026, which is 30% above its 10-year median of 5.64. GuruFocus rates TSX:CVE with a GF Score™ of 60/100 and a GF Value™ of C$22.15 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 761 Oil & Gas companies, Cenovus Energy ranks better than 51.12% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Cenovus Energy's enterprise value is C$84,294 Mil.
Cenovus Energy's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was C$11,486 Mil. Therefore, Cenovus Energy's EV-to-EBITDA for today is 7.34.
The historical rank and industry rank for Cenovus Energy's EV-to-EBITDA or its related term are showing as below:
TSX:CVE'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -374.27 Med: 5.64 Max: 86.93
Current: 7.34
During the past 13 years, the highest EV-to-EBITDA of Cenovus Energy was 86.93. The lowest was -374.27. And the median was 5.64.
TSX:CVE's EV-to-EBITDA is ranked better than 51.12% of 761
companies
in the Oil & Gas industry
Industry Median: 7.58
vs TSX:CVE: 7.34
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
Cenovus Energy (TSX:CVE) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Cenovus Energy's PE Ratio (TTM) for today is calculated as:
Cenovus Energy's share price for today is C$39.20.
Cenovus Energy's Earnings per Share (Diluted) 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$2.500.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Cenovus Energy's EV-to-EBITDA 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.
For the Oil & Gas Integrated subindustry, Cenovus Energy's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Cenovus Energy's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Cenovus Energy's EV-to-EBITDA falls into.
Cenovus Energy's current Enterprise Value is C$84,294 Mil.
Cenovus Energy's EBITDA 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$11,486 Mil.
* 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 (TSX:CVE) has a EV-to-EBITDA of 7.34 as of Jul. 20, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Cenovus Energy. This is 30% above median its historical median of 5.64. According to the industry distribution chart, Cenovus Energy ranks #372 out of 761 companies in the Oil & Gas industry, placing it in the top 48.9%.
Is Cenovus Energy's EV-to-EBITDA too high?
Cenovus Energy's current EV-to-EBITDA of 7.34 is 30% above median its 10-year median of 5.64. The Oil & Gas industry median EV-to-EBITDA is 7.58. Cenovus Energy's value of 7.34 is 3.2% below this industry median. Based on the distribution chart, Cenovus Energy ranks #372 out of 761 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Cenovus Energy has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cenovus Energy's EV-to-EBITDA compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Cenovus Energy ranks #372 out of 761 companies for EV-to-EBITDA. This puts Cenovus Energy in the upper half of its industry. The industry median EV-to-EBITDA is 7.58. Cenovus Energy's value of 7.34 is 3.2% below this benchmark. While the company's 10-year median is 5.64 vs. the industry median of 7.58, Cenovus Energy has consistently been below 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 EV-to-EBITDA for an Oil & Gas company?
The median EV-to-EBITDA among Oil & Gas companies is 7.58, based on 761 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cenovus Energy's current EV-to-EBITDA of 7.34 is 3.2% below 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Cenovus Energy. For the Oil & Gas industry, the median EV-to-EBITDA is 7.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cenovus Energy's current EV-to-EBITDA is 7.34, which is 30% above median its own 10-year median of 5.64. 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$22.15, compared to a current price of C$39.20 — trading 77% above its estimated fair value. The current EV-to-EBITDA is 7.34, which is 30% above median its 10-year median of 5.64 and 3.2% below the Oil & Gas industry median of 7.58. Cenovus Energy's overall GF Score™ is 60/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Cenovus Energy (TSX:CVE), the current EV-to-EBITDA is 7.34 as of Jul. 20, 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$39.20 is trading 77% above its estimated GF Value™ of C$22.15.
GuruFocus considers Cenovus Energy to be Significantly Overvalued.
Key valuation signals for TSX:CVE:
EV-to-EBITDA: 7.34 (30% above median its 10-year median of 5.64)
GF Value™: C$22.15 vs. price of C$39.20 (77% above fair value)
Industry Position: 3.2% below the Oil & Gas median (#372 of 761)
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.
60GF Score
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