Cenovus Energy Inc.

CVE.TOTSXEnergy● Active

$40.08

+$0.67(+1.70%)

Market Cap$74.7B

P/E Ratio—

52W High$44.13

52W Low$17.78

Avg Volume8.1M

Open$39.88

Beta0.51

Free Cash Flow Financials Revenue

Cenovus Energy Inc. (CVE.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CVE.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

CVE.TO · FCF · TTM · margin & CAGR

Free cash flow was $3.41B for FY2025 (fiscal year ending 2025-12-31), down 19.2% year-over-year The FCF margin was 6.9%.

FY2025 Free Cash Flow$3.41B▼ -19.2% YoY

Trailing 12M (TTM)$4.36Btrailing 4 quarters sum

FCF Margin6.9%$3.41B ÷ revenue

3-Year CAGR-23.6%FY2022 → FY2025

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CVE.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$8.23B(4.82B)$3.41B▼ 19.2%6.9%

FY2024$9.23B(5.01B)$4.22B▲ +36.6%7.8%

FY2023$7.39B(4.30B)$3.09B▼ 59.6%5.9%

FY2022$11.40B(3.76B)$7.64B▲ +127.8%11.4%

FY2021$5.92B(2.56B)$3.36B▲ +672.7%7.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CVE.TO · P/FCF · FCF yield · FCF per share

Cenovus Energy Inc. (CVE.TO) trades at a FCF yield of 5.80% and a price-to-free-cash-flow ratio of 16.6x. FCF per share stands at $2.41, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

5.80%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.41

TTM FCF ÷ Shares Outstanding

Price / FCF

x16.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x19.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CVE.TO · cash flow statement · operating / investing / financing

For FY2025, Cenovus Energy Inc. generated $8.23B in operating cash flow and spent 4.82B in capital expenditures, yielding $3.41B in free cash flow.

Operating Activities

+$8.23B

Cash from core business operations

2025-12-31

Investing Activities

−$7.68B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$749.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($8.23B) − |CapEx| (4.82B) = FCF ($3.41B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Energy)

CVE.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Cenovus Energy Inc.YOU

CVE.TO

$3.41B-19.2%6.9%

14%

Exxon Mobil Corporation

Energy · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Cenovus Energy Inc. (CVE.TO) reported free cash flow of $3.41B for FY2025 (fiscal year ending 2025-12-31), down 19.2% year-over-year. The FCF margin was 6.9%.

Based on available data, Cenovus Energy Inc. has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $7.64B in FY2022.

Cenovus Energy Inc.'s FCF yield is 5.80% and price-to-FCF ratio is 16.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CVE.TO free cash flow · 8 questions

Cenovus Energy Inc. free cash flow was $3.41B for FY2025, down 19.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $4.36B.

CVE.TO free cash flowCVE.TO FCFCVE.TO FCF 2025CVE.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Cenovus Energy Inc. · Cenovus Energy Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026