• Cenovus Energy Inc average gross margin for 2023 was 50.98%, a 3.24% decline from 2022.
• Cenovus Energy Inc average gross margin for 2022 was 49.38%, a 8.69% increase from 2021.
• Cenovus Energy Inc average gross margin for 2021 was 54.08%, a 8.42% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.