Cenovus looks cheaper on two of the three valuation measures provided, while Cameco has the lower PEG. That’s a useful starting point, but it doesn’t settle which stock is the better value.
Cenovus Energy Inc. and Cameco Corp. are both listed in the Energy sector and industry group, but their valuation figures differ. At the November 5, 2026 adjusted close, Cenovus traded at C$38.76 per share, with a C$70.1B market cap. Cameco traded at C$95.85 per share, with a C$41.7B market cap. Cenovus has the lower P/E and P/B, while Cameco has the lower PEG. No stock leads on all three measures.
Investor takeaway: Cenovus looks cheaper by P/E and P/B, while Cameco looks cheaper by PEG. These figures don’t prove that Cenovus is undervalued or Cameco is expensive. Valuation ratios can reflect different expectations and business conditions, and this snapshot doesn’t explain the differences. The supplied table also gives both companies a Strong Sell analyst consensus and a C$0.00 target. Treat those as snapshot data, not recommendations.
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Cenovus Energy Inc
CVE.TO
Energy
$39.66
$73.14B
1D
-7.83%
1W
-12.26%
Cameco Corp
CCO.TO
Energy
$100.07
$43.58B
1D
-1.63%
1W
-14.65%
Cenovus is lower on two of three supplied multiples
Cenovus’s P/E is 10.8, compared with 105.3 for Cameco. Its P/B is 1.99, versus 5.77 for Cameco. Cameco’s PEG of 1.92 is lower than Cenovus’s 15.91. The comparison is mixed, and these ratios alone don’t show which stock offers better value.
Bull case
Cenovus looks cheaper on the supplied P/E and P/B measures. Its 2.12% dividend yield and 27.4% TTM ROE add context, but neither figure guarantees future returns.
Bear case
Cenovus’s PEG of 15.91 is much higher than Cameco’s 1.92, so it doesn’t look cheaper on every measure. The figures don’t explain the gap or show whether either multiple is justified.
How the valuation measures compare
The multiples point in different directions. Cenovus’s P/E is 10.8, compared with 105.3 for Cameco. Its P/B is 1.99, versus 5.77 for Cameco. Cenovus screens cheaper on both measures. But Cameco’s PEG of 1.92 is below Cenovus’s 15.91. Since the results are mixed, these figures alone aren’t enough to name a winner. For company details, see Cenovus Energy and Cameco Corp.
Business and shareholder figures add context
The snapshot lists both companies in the Energy sector and industry group. Cenovus has a C$70.1B market cap, a 2.12% dividend yield and 27.4% TTM ROE. Cameco has a C$41.7B market cap, a 0.24% dividend yield and 5.7% TTM ROE. These figures describe different aspects of each company, but they don’t explain the valuation gap or predict future performance. The analyst table labels both stocks Strong Sell and lists C$0.00 targets. Those are snapshot figures, not a substitute for understanding each business.
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