Income Statement Cenovus Energy Inc.

Equities

CVE

CA15135U1093

Integrated Oil & Gas

Market Closed - Toronto S.E. Other stock markets 01:48:17 12/09/2024 am IST			5-day change	1st Jan Change
21.95 ^CAD	-0.63%		-7.93%	-0.59%

05/09	TSX Closer: Weak Oil Prices and Rate-Cut Uncertainty Pushes the Market Below 23,000	MT
15/08	CENOVUS ENERGY ON IMPENDING CANADA RAIL STOPPAGE: WE ARE PUTTING…	RE

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Published financial data: CENOVUS ENERGY INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	20.18B	13.23B	46.36B	66.9B	52.2B
Total Revenues	20.18B	13.23B	46.36B	66.9B	52.2B
Cost of Goods Sold, Total	15.7B	12.05B	36.08B	50.9B	41.21B
Gross Profit	4.48B	1.18B	10.28B	16B	11B
Selling General & Admin Expenses, Total	336M	292M	849M	865M	688M
Exploration / Drilling Costs, Total	-	-	-	37M	13M
R&D Expenses	20M	-	-	-	-
Depreciation & Amortization - (IS)	2.22B	2.35B	4.32B	4.31B	4.57B
Impairment of Oil, Gas & Mineral Properties - (IS)	102M	698M	-360M	64M	29M
Other Operating Expenses	204M	365M	1.19B	1.81B	281M
Other Operating Expenses, Total	2.88B	3.71B	6B	7.09B	5.58B
Operating Income	1.6B	-2.53B	4.27B	8.91B	5.41B
Interest Expense, Total	-497M	-479M	-728M	-636M	-503M
Interest And Investment Income	12M	9M	23M	81M	133M
Net Interest Expenses	-485M	-470M	-705M	-555M	-370M
Income (Loss) On Equity Invest.	-	-	57M	15M	51M
Currency Exchange Gains (Loss)	407M	181M	174M	-343M	67M
Other Non Operating Income (Expenses)	-16M	-25M	-34M	167M	3M
EBT, Excl. Unusual Items	1.51B	-2.84B	3.76B	8.19B	5.16B
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-29M	-349M	-106M	-57M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	2M	81M	229M	269M	14M
Asset Writedown	-13M	-505M	-1.94B	183M	-104M
Insurance Settlements	-	-	-	328M	-
Other Unusual Items	-101M	65M	-387M	-133M	25M
EBT, Incl. Unusual Items	1.4B	-3.23B	1.32B	8.73B	5.04B
Income Tax Expense	-797M	-851M	728M	2.28B	931M
Earnings From Continuing Operations	2.19B	-2.38B	587M	6.45B	4.11B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	2.19B	-2.38B	587M	6.45B	4.11B
Net Income - (IS)	2.19B	-2.38B	587M	6.45B	4.11B
Preferred Dividend and Other Adjustments	-	-	34M	35M	36M
Net Income to Common Incl Extra Items	2.19B	-2.38B	553M	6.42B	4.07B
Net Income to Common Excl. Extra Items	2.19B	-2.38B	553M	6.42B	4.07B
Per Share Items
Net EPS - Basic	1.79	-1.94	0.27	3.29	2.15
Basic EPS - Continuing Operations	1.79	-1.94	0.27	3.29	2.15
Basic Weighted Average Shares Outstanding	1.23B	1.23B	2.02B	1.95B	1.9B
Net EPS - Diluted	1.78	-1.94	0.27	3.2	2.12
Diluted EPS - Continuing Operations	1.78	-1.94	0.27	3.2	2.12
Diluted Weighted Average Shares Outstanding	1.23B	1.23B	2.05B	2.01B	1.93B
Normalized Basic EPS	0.77	-1.45	1.17	2.62	1.7
Normalized Diluted EPS	0.77	-1.45	1.15	2.55	1.68
Dividend Per Share	0.21	0.06	0.09	0.46	0.52
Payout Ratio	11.85	-3.24	35.78	14.37	24.97
Supplemental Items
EBITDA	3.81B	364M	8.1B	13.1B	9.91B
EBITA	1.66B	-2.47B	4.47B	9.08B	5.63B
EBIT	1.6B	-2.53B	4.27B	8.91B	5.41B
EBITDAR	3.86B	386M	-	-	-
Total Revenues (As Reported)	20.18B	13.23B	46.36B	66.9B	52.2B
Effective Tax Rate - (Ratio)	-57.05	26.35	55.36	26.13	18.47
Current Domestic Taxes	14M	-14M	104M	1.25B	1.04B
Current Foreign Taxes	3M	1M	172M	387M	140M
Total Current Taxes	17M	-13M	276M	1.64B	1.18B
Total Deferred Taxes	-814M	-838M	452M	642M	-250M
Normalized Net Income	943M	-1.78B	2.35B	5.12B	3.23B
Interest Capitalized	-	-	-	5M	20M
Interest on Long-Term Debt	82M	87M	171M	163M	161M
Non-Cash Pension Expense	3M	3M	2M	3M	1M
Supplemental Operating Expense Items
General and Administrative Expenses	294M	292M	849M	865M	688M
Research And Development Expense From Footnotes	20M	-	-	-	-
Exploration/Drilling Costs	-	-	-	37M	13M
Net Rental Expense, Total	42M	22M	-	-	-
Imputed Operating Lease Interest Expense	18.79M	9.4M	-	-	-
Imputed Operating Lease Depreciation	23.21M	12.6M	-	-	-
Stock-Based Comp., G&A Exp. (Total)	67M	49M	159M	373M	97M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	67M	49M	159M	373M	97M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	186M	378M	2.87B	4.52B	2.23B
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	186M	378M	2.87B	4.52B	2.23B
Accounts Receivable, Total	1.44B	1.16B	2.79B	3.02B	2.74B
Other Receivables	46M	56M	247M	172M	465M
Notes Receivable	-	-	-	-	-
Total Receivables	1.49B	1.21B	3.04B	3.19B	3.21B
Inventory	1.53B	1.09B	3.92B	4.31B	4.03B
Prepaid Expenses	54M	121M	486M	402M	242M
Other Current Assets, Total	21M	175M	1.68B	-	-
Total Current Assets	3.28B	2.98B	11.99B	12.43B	9.71B
Gross Property Plant And Equipment	38.64B	39.17B	54.28B	61.11B	65.9B
Accumulated Depreciation	-8.69B	-12B	-17.32B	-22.08B	-26.23B
Net Property Plant And Equipment	29.95B	27.17B	36.96B	39.03B	39.67B
Long-term Investments	52M	149M	441M	420M	497M
Goodwill	2.27B	2.27B	3.47B	2.92B	2.92B
Other Intangibles, Total	101M	89M	78M	19M	-
Accounts Receivable Long-Term	30M	52M	60M	62M	61M
Deferred Tax Assets Long-Term	-	36M	694M	546M	696M
Other Long-Term Assets, Total	28M	23M	415M	440M	362M
Total Assets	35.71B	32.77B	54.1B	55.87B	53.92B
Liabilities
Accounts Payable, Total	939M	608M	2.55B	2.33B	1.08B
Accrued Expenses, Total	1.21B	1.12B	3.17B	3.65B	4.28B
Short-term Borrowings	-	121M	79M	115M	179M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	196M	184M	272M	308M	299M
Current Income Taxes Payable	17M	-	179M	1.21B	88M
Other Current Liabilities	160M	327M	1.05B	402M	285M
Total Current Liabilities	2.52B	2.36B	7.3B	8.02B	6.21B
Long-Term Debt	6.7B	7.44B	12.38B	8.69B	7.11B
Long-Term Leases	1.72B	1.57B	2.68B	2.53B	2.36B
Unearned Revenue Non Current	-	-	41M	45M	-
Pension & Other Post Retirement Benefits	73M	91M	288M	201M	276M
Deferred Tax Liability Non Current	4.03B	3.23B	3.29B	4.28B	4.19B
Other Non Current Liabilities	1.47B	1.36B	4.51B	4.51B	5.06B
Total Liabilities	16.51B	16.06B	30.5B	28.28B	25.2B
Preferred Stock Redeemable	-	-	519M	519M	519M
Total Preferred Equity	-	-	519M	519M	519M
Common Stock, Total	11.04B	11.04B	17.02B	16.32B	16.03B
Additional Paid In Capital	4.38B	4.39B	4.28B	2.69B	2B
Retained Earnings	2.96B	501M	878M	6.39B	8.91B
Comprehensive Income and Other	827M	775M	899M	1.65B	1.23B
Total Common Equity	19.2B	16.71B	23.08B	27.06B	28.18B
Minority Interest	-	-	12M	13M	14M
Total Equity	19.2B	16.71B	23.61B	27.59B	28.71B
Total Liabilities And Equity	35.71B	32.77B	54.1B	55.87B	53.92B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.23B	2.02B	2B	1.91B	1.87B
ECS Total Common Shares Outstanding	1.23B	1.23B	2B	1.91B	1.87B
Book Value / Share	15.63	13.6	11.53	14.17	15.05
Tangible Book Value	16.83B	14.35B	19.53B	24.12B	25.26B
Tangible Book Value Per Share	13.69	11.67	9.76	12.63	13.49
Total Debt	8.62B	9.32B	15.42B	11.64B	9.94B
Net Debt	8.43B	8.94B	12.55B	7.12B	7.72B
Debt Equivalent of Unfunded Proj. Benefit Obligation	51M	71M	61M	25M	24M
Debt Equivalent Oper. Leases	336M	176M	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	-	12M	13M	14M
Equity Method Investments, Total	-	97M	311M	365M	366M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	87M	93M	2.36B	303M	426M
Inventories - Finished Goods, Total	1.44B	996M	1.56B	4.01B	3.6B
Machinery, Total	5.4B	5.44B	-	-	-
Full Time Employees	2.36K	2.41K	5.94K	6K	6.92K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.19B	-2.38B	587M	6.45B	4.11B
Depreciation & Amortization - CF	2.22B	2.35B	4.32B	4.31B	4.57B
Amortization of Goodwill and Intangible Assets - (CF)	58M	57M	199M	176M	220M
Impairment of Oil, Gas & Mineral Properties - (CF)	102M	698M	-369M	-	-
Depreciation & Amortization, Total	2.38B	3.11B	4.15B	4.49B	4.79B
(Gain) Loss From Sale Of Asset	-2M	-81M	-229M	-269M	-14M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	13M	505M	1.94B	-183M	104M
(Income) Loss On Equity Investments - (CF)	-	-	80M	50M	98M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-857M	-1B	614M	291M	-510M
Change in Other Net Operating Assets	-439M	126M	-1.23B	575M	-1.19B
Cash from Operations	3.28B	273M	5.92B	11.4B	7.39B
Capital Expenditure	-1.18B	-859M	-2.56B	-3.71B	-4.3B
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-	735M	-397M	-515M
Divestitures	1M	38M	435M	1.51B	12M
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-133M	-4M	17M	-211M	-125M
Other Investing Activities, Total	-117M	-38M	434M	488M	-369M
Cash from Investing	-1.43B	-863M	-942M	-2.31B	-5.3B
Short Term Debt Issued, Total	-	117M	-	34M	58M
Long-Term Debt Issued, Total	276M	1.33B	1.56B	-	-
Total Debt Issued	276M	1.44B	1.56B	34M	58M
Short Term Debt Repaid, Total	-	-	-77M	-	-
Long-Term Debt Repaid, Total	-2.43B	-529M	-3.52B	-4.45B	-1.63B
Total Debt Repaid	-2.43B	-529M	-3.6B	-4.45B	-1.63B
Issuance of Common Stock	-	-	-	200M	64M
Repurchase of Common Stock	-	-	-265M	-2.53B	-1.06B
Common Dividends Paid	-260M	-77M	-176M	-901M	-990M
Preferred Dividends Paid	-	-	-34M	-26M	-36M
Common & Preferred Stock Dividends Paid	-260M	-77M	-210M	-927M	-1.03B
Other Financing Activities, Total	-	-	8M	-2M	-714M
Cash from Financing	-2.41B	837M	-2.51B	-7.68B	-4.31B
Foreign Exchange Rate Adjustments	-35M	-55M	25M	238M	-77M
Net Change in Cash	-595M	192M	2.5B	1.65B	-2.3B
Supplemental Items
Cash Interest Paid	511M	381M	811M	647M	402M
Cash Income Tax Paid (Refund)	17M	18M	209M	723M	2.6B
Levered Free Cash Flow	1.67B	647M	2.35B	8.18B	2.22B
Unlevered Free Cash Flow	1.98B	946M	2.8B	8.57B	2.53B
Change In Net Working Capital	284M	-229M	1.62B	-1.85B	1.44B
Net Debt Issued / Repaid	-2.15B	914M	-2.04B	-4.42B	-1.58B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.83	-4.61	6.15	10.12	6.16
Return on Total Capital	3.68	-5.87	8.21	14.22	8.68
Return On Equity %	11.97	-13.25	2.91	25.2	14.6
Return on Common Equity	11.97	-13.25	2.78	25.59	14.75
Margin Analysis
Gross Profit Margin %	22.2	8.91	22.17	23.91	21.06
SG&A Margin	1.66	2.21	1.83	1.29	1.32
EBITDA Margin %	18.9	2.75	17.48	19.58	18.99
EBITA Margin %	8.23	-18.68	9.64	13.58	10.79