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MER.TO vs. CVE.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility
Financials

MER.TO vs. CVE.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Meren Energy Inc (MER.TO) and Cenovus Energy Inc. (CVE.TO).

Performance

MER.TO vs. CVE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Meren Energy Inc (MER.TO) and Cenovus Energy Inc. (CVE.TO). The values are adjusted to include any dividend payments, if applicable.

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MER.TO vs. CVE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MER.TO
Meren Energy Inc		38.67%2.07%-18.12%2.23%43.09%58.41%-3.42%8.33%-23.94%-46.62%
CVE.TO
Cenovus Energy Inc.		59.99%10.53%2.13%-14.07%72.44%101.55%-40.39%39.99%-14.88%-42.52%

Fundamentals

Market Cap

MER.TO:

CA$1.65B

CVE.TO:

CA$68.82B

EPS

MER.TO:

-CA$0.05

CVE.TO:

CA$2.15

PS Ratio

MER.TO:

2.95

CVE.TO:

1.36

PB Ratio

MER.TO:

2.16

CVE.TO:

2.18

Total Revenue (TTM)

MER.TO:

CA$562.94M

CVE.TO:

CA$49.70B

Gross Profit (TTM)

MER.TO:

CA$136.13M

CVE.TO:

CA$6.58B

EBITDA (TTM)

MER.TO:

CA$362.23M

CVE.TO:

CA$10.20B

Returns By Period

In the year-to-date period, MER.TO achieves a 38.67% return, which is significantly lower than CVE.TO's 59.99% return. Over the past 10 years, MER.TO has underperformed CVE.TO with an annualized return of 3.27%, while CVE.TO has yielded a comparatively higher 10.50% annualized return.

MER.TO

1D
-0.41%
1M
14.50%
YTD
38.67%
6M
39.62%
1Y
31.99%
3Y*
-1.27%
5Y*
21.00%
10Y*
3.27%

CVE.TO

1D
-0.30%
1M
22.25%
YTD
59.99%
6M
58.50%
1Y
90.82%
3Y*
19.85%
5Y*
33.45%
10Y*
10.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Meren Energy Inc

Cenovus Energy Inc.

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Return for Risk

MER.TO vs. CVE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MER.TO
MER.TO Risk / Return Rank: 6969
Overall Rank
MER.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
MER.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
MER.TO Omega Ratio Rank: 6565
Omega Ratio Rank
MER.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
MER.TO Martin Ratio Rank: 6868
Martin Ratio Rank
CVE.TO
CVE.TO Risk / Return Rank: 9191
Overall Rank
CVE.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
CVE.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
CVE.TO Omega Ratio Rank: 8989
Omega Ratio Rank
CVE.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
CVE.TO Martin Ratio Rank: 9292
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MER.TO vs. CVE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Meren Energy Inc (MER.TO) and Cenovus Energy Inc. (CVE.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

MER.TOCVE.TODifference

Sharpe ratio

Return per unit of total volatility

0.94

2.27

-1.33

Sortino ratio

Return per unit of downside risk

1.46

2.73

-1.26

Omega ratio

Gain probability vs. loss probability

1.19

1.37

-0.19

Calmar ratio

Return relative to maximum drawdown

1.62

3.78

-2.16

Martin ratio

Return relative to average drawdown

3.11

12.55

-9.45

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MER.TO vs. CVE.TO - Sharpe Ratio Comparison

The current MER.TO Sharpe Ratio is 0.94, which is lower than the CVE.TO Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of MER.TO and CVE.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

MER.TOCVE.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.94

2.27

-1.33

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

0.88

-0.37

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.08

0.22

-0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.00

0.10

-0.10

Correlation

The correlation between MER.TO and CVE.TO is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MER.TO vs. CVE.TO - Dividend Comparison

MER.TO's dividend yield for the trailing twelve months is around 8.40%, more than CVE.TO's 2.17% yield.

TTM20252024202320222021202020192018201720162015
MER.TO
Meren Energy Inc		8.40%11.50%3.45%2.77%2.61%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
CVE.TO
Cenovus Energy Inc.		2.17%3.36%3.74%2.38%1.77%0.57%0.81%1.61%2.08%1.74%0.99%4.87%

Drawdowns

MER.TO vs. CVE.TO - Drawdown Comparison

The maximum MER.TO drawdown since its inception was -98.27%, which is greater than CVE.TO's maximum drawdown of -92.84%. Use the drawdown chart below to compare losses from any high point for MER.TO and CVE.TO.

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Drawdown Indicators

MER.TOCVE.TODifference

Max Drawdown

Largest peak-to-trough decline

-98.27%

-92.84%

-5.43%

Max Drawdown (1Y)

Largest decline over 1 year

-19.71%

-24.71%

+5.00%

Max Drawdown (5Y)

Largest decline over 5 years

-46.86%

-47.23%

+0.37%

Max Drawdown (10Y)

Largest decline over 10 years

-72.14%

-88.58%

+16.44%

Current Drawdown

Current decline from peak

-73.73%

-0.83%

-72.90%

Average Drawdown

Average peak-to-trough decline

-77.68%

-34.93%

-42.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.29%

7.44%

+2.85%

Volatility

MER.TO vs. CVE.TO - Volatility Comparison

Meren Energy Inc (MER.TO) has a higher volatility of 11.83% compared to Cenovus Energy Inc. (CVE.TO) at 9.21%. This indicates that MER.TO's price experiences larger fluctuations and is considered to be riskier than CVE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MER.TOCVE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

11.83%

9.21%

+2.62%

Volatility (6M)

Calculated over the trailing 6-month period

27.17%

23.68%

+3.49%

Volatility (1Y)

Calculated over the trailing 1-year period

34.04%

40.19%

-6.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.31%

38.23%

+3.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

43.50%

47.91%

-4.41%

Financials

MER.TO vs. CVE.TO - Financials Comparison

This section allows you to compare key financial metrics between Meren Energy Inc and Cenovus Energy Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.

Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities

0.005.00B10.00B15.00B20.00BAprilJulyOctober2022AprilJulyOctober2023AprilJulyOctober2024AprilJulyOctober2025AprilJulyOctober
200.54M
10.88B
(MER.TO) Total Revenue
(CVE.TO) Total Revenue
Values in CAD except per share items

MER.TO vs. CVE.TO - Profitability Comparison

The chart below illustrates the profitability comparison between Meren Energy Inc and Cenovus Energy Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.
Gross Margin
Operating Margin
Net Margin
Quarterly
Annual
10.0%20.0%30.0%40.0%50.0%60.0%70.0%AprilJulyOctober2022AprilJulyOctober2023AprilJulyOctober2024AprilJulyOctober2025AprilJulyOctober
10.9%
12.1%
Portfolio components
MER.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Meren Energy Inc reported a gross profit of 21.93M and revenue of 200.54M. Therefore, the gross margin over that period was 10.9%.

CVE.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Cenovus Energy Inc. reported a gross profit of 1.32B and revenue of 10.88B. Therefore, the gross margin over that period was 12.1%.

MER.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Meren Energy Inc reported an operating income of 17.26M and revenue of 200.54M, resulting in an operating margin of 8.6%.

CVE.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Cenovus Energy Inc. reported an operating income of 1.08B and revenue of 10.88B, resulting in an operating margin of 9.9%.

MER.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Meren Energy Inc reported a net income of -92.20M and revenue of 200.54M, resulting in a net margin of -46.0%.

CVE.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Cenovus Energy Inc. reported a net income of 934.00M and revenue of 10.88B, resulting in a net margin of 8.6%.