Cenovus EnergyCVE +0.53%65 EV-to-FCF is 17.51 as of Jun. 27, 2026, which is 44% above its 10-year median of 12.17. GuruFocus rates CVE with a GF Score™ of 65/100 and a GF Value™ of $15.81 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 576 Oil & Gas companies, Cenovus Energy ranks worse than 57.99% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Cenovus Energy's Enterprise Value is $54,062 Mil.
Cenovus Energy's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $3,088 Mil. Therefore, Cenovus Energy's EV-to-FCF for today is 17.51.
The historical rank and industry rank for Cenovus Energy's EV-to-FCF or its related term are showing as below:
CVE'
s EV-to-FCF Range Over the Past 10 Years
Min: -898.25 Med: 12.17 Max: 2703.52
Current: 18.08
During the past 13 years, the highest EV-to-FCF of Cenovus Energy was 2703.52. The lowest was -898.25. And the median was 12.17.
CVE's EV-to-FCF is ranked worse than 57.99% of 576
companies
in the Oil & Gas industry
Industry Median: 15.705
vs CVE: 18.08
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 $24.81.
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 $1.816.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Cenovus Energy EV-to-FCF Related Terms
Cenovus Energy EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Cenovus Energy's EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Cenovus Energy's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Cenovus Energy's EV-to-FCF falls into.
Cenovus Energy's current Enterprise Value is $54,062 Mil.
Cenovus Energy's Free Cash Flow 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 $3,088 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 (CVE) has a EV-to-FCF of 17.51 as of Jun. 27, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Cenovus Energy and its competitors. This is 44% above median its historical median of 12.17. According to the industry distribution chart, Cenovus Energy ranks #334 out of 576 companies in the Oil & Gas industry, placing it in the top 58%.
Is Cenovus Energy's EV-to-FCF too high?
Cenovus Energy's current EV-to-FCF of 17.51 is 44% above median its 10-year median of 12.17. The Oil & Gas industry median EV-to-FCF is 15.71. Cenovus Energy's value of 17.51 is 11.5% above this industry median. Based on the distribution chart, Cenovus Energy ranks #334 out of 576 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Cenovus Energy has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cenovus Energy's EV-to-FCF compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Cenovus Energy ranks #334 out of 576 companies for EV-to-FCF. This places Cenovus Energy in the lower half of its industry. The industry median EV-to-FCF is 15.71. Cenovus Energy's value of 17.51 is 11.5% above this benchmark. While the company's 10-year median is 12.17 vs. the industry median of 15.71, 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 EV-to-FCF for an Oil & Gas company?
The median EV-to-FCF among Oil & Gas companies is 15.71, based on 576 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cenovus Energy's current EV-to-FCF of 17.51 is 11.5% 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 EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Cenovus Energy and its competitors. For the Oil & Gas industry, the median EV-to-FCF is 15.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cenovus Energy's current EV-to-FCF is 17.51, which is 44% above median its own 10-year median of 12.17. 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 (CVE) is currently considered Significantly Overvalued. The stock's GF Value™ is $15.81, compared to a current price of $24.81 — trading 56.9% above its estimated fair value. The current EV-to-FCF is 17.51, which is 44% above median its 10-year median of 12.17 and 11.5% above the Oil & Gas industry median of 15.71. Cenovus Energy's overall GF Score™ is 65/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Cenovus Energy (CVE), the current EV-to-FCF is 17.51 as of Jun. 27, 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 (CVE) Overvalued in 2026?
Based on GuruFocus' analysis, Cenovus Energy stock appears to be overvalued.
The current stock price of $24.81 is trading 56.9% above its estimated GF Value™ of $15.81.
GuruFocus considers Cenovus Energy to be Significantly Overvalued.
Key valuation signals for CVE:
EV-to-FCF: 17.51 (44% above median its 10-year median of 12.17)
GF Value™: $15.81 vs. price of $24.81 (56.9% above fair value)
Industry Position: 11.5% above the Oil & Gas median (#334 of 576)
No single metric tells the full story. See the 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.
65GF Score
Get the complete analysis for CVE
EV-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CVE has been successfully added to your 
