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CVE

Cenovus Energy Inc.

Energy · $57.1B market cap

Verdict

Share price

$32.40

close of Oct 3, 2026

Fair value

$14.39

Sticker Price

Payback Price

$5.76

buy price

Overpriced

CVE is Overpriced: at $32.40 it trades 125% above its fair value of $14.39. Its buy price (Payback Price) is $5.76, 82% below today's price. Business quality is limited: only 1 of 5 key numbers clears the 10% bar.

How we valued it

Free Cash Flow. Sales grew -12% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

1 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth10.0% a year✗
Equity per share growth1.6% a year✗
Sales growth8.6% a year✗
Free cash flow growth14.6% a year✓
Return on invested capital8.0%✗

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Superinvestors

1 of the investors we track holds CVE. In Q1 2026, 1 opened a position. Who we track

Lee Ainslie

Maverick Capital · as of Q2 2026

$990K

39,735 shares

Moves in Q1 2026

New position: Lee Ainslie

About Cenovus Energy Inc.

Cenovus Energy Inc. is an integrated energy firm involved in the exploration, extraction, processing, and sale of crude oil, natural gas liquids, and natural gas. Its operations span Canada, the United States, and the Asia Pacific region. The company organizes its extensive activities across six core segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail. The Oil Sands…

Oil & Gas Integrated

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works