CVECenovus Energy Inc.
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (AA) and typical volatility.
Rock-solid balance sheet, low leverage. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -89% · now 8% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can CVE take a bad year?
Cenovus Energy Inc. carries $19.3B of net debt at 0.75× EBITDA: a load its earnings can carry.
Net debt · as at Q4 2025 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 0.75×
Net debt / EBITDA · 0.43× a year ago · the load is going up
- Interest cover
- 37.3×
Interest cover · operating profit covers the interest bill several times over
- Annualised volatility
- 38%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtQ4 2025
- $22.1B
- Cash and short-term investments
- $2.74B
- Net debt
- $19.3B
- EBITDA, trailing twelve months
- $25.9B
- Operating profit, trailing twelve months
- $20.8B
- Debt / equity
- 0.70×
- Total debt / EBITDA
- 0.85×
- Annualised volatilitytwo years of daily moves
- 38%
- Worst drawdown on file
- −89%
- Below its 52-week high
- 7.5%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Oil & Gas Integrated
Ranks #1 of 12 by RyuScore