CVE P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
CVE's p/e ratio is higher than 65% of the last 10 years.
P/E ratio History
CVE P/E ratio by year
Yearly range of CVE’s p/e ratio from 2016 to 2026. Over the full period it ranged from -642.5 to 62.9, averaging -7.6.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 9.7 | 13.6 | 17.4 | 12.5 |
| 2025 | 10.1 | 13.5 | 17.5 | 10.9 |
| 2024 | 8.7 | 11.0 | 13.3 | 13.3 |
| 2023 | 6.7 | 10.4 | 14.8 | 10.5 |
| 2022 | 8.4 | 25.4 | 62.9 | 10.4 |
| 2021 | -642.5 | -136.9 | 45.7 | 45.7 |
| 2020 | -4.9 | 4.9 | 33.4 | -4.0 |
| 2019 | -9.0 | 14.5 | 58.1 | 7.4 |
| 2018 | -33.7 | -9.6 | 6.6 | -4.4 |
| 2017 | -57.4 | -16.2 | 5.7 | 4.6 |
| 2016 | -13.8 | -6.5 | 21.7 | -13.1 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is CVE P/E ratio High or Low Right Now?
Cenovus Energy Inc.'s P/E ratio is currently 12.5, which is above average relative to its 10-year historical range. The 10-year median P/E ratio for CVE is approximately 9.4. See all CVE valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.