Cenovus Energy (TSX:CVE) ROCE % : 14.27% (As of Mar. 2024)

View and export this data going back to 2009. Start your Free Trial

What is Cenovus Energy ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Cenovus Energy's annualized ROCE % for the quarter that ended in Mar. 2024 was 14.27%.

Cenovus Energy ROCE % Historical Data

The historical data trend for Cenovus Energy's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cenovus Energy ROCE % Chart

Cenovus Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

Get a 7-Day Free Trial

5.91

-8.47

6.12

20.17

12.06

Cenovus Energy Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															6.53	10.45	22.13	9.59	14.27

Cenovus Energy ROCE % Calculation

Cenovus Energy's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	5763	/	( ( (55869 - 8021)	+	(53915 - 6210) )	/ 2 )
	=	5763	/	( (47848	+	47705)	/ 2 )
	=	5763	/	47776.5
	=	12.06 %

Cenovus Energy's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	6872	/	( ( (53915 - 6210)	+	(54994 - 6365) )	/ 2 )
	=	6872	/	( ( 47705	+	48629 )	/ 2 )
	=	6872	/	48167
	=	14.27 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

Cenovus Energy (TSX:CVE) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Cenovus Energy ROCE % Related Terms

Thank you for viewing the detailed overview of Cenovus Energy's ROCE % provided by GuruFocus.com. Please click on the following links to see related term pages.

Cenovus Energy (TSX:CVE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Cenovus Energy Inc (TSX:CVE) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CVE:USA CXD:Germany CVE.PR.B.PFD:Canada CVE.PR.A.PFD:Canada CVE.PR.C.PFD:Canada CVE.PR.G.PFD:Canada CVE.PR.E.PFD:Canada

Address

225 - 6 Avenue SW, Suite 4100, Calgary, AB, CAN, T2P 1N2

Website

https://www.cenovus.com

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 786 thousand barrels of oil equivalent per day in 2022. The company had upstream projects across Western Canada; crude oil production and natural gas and NGLs production offshore China and Indonesia. The downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada.

Executives

Susan Mary Anderson-olney

Senior Officer