• Cenovus Energy Inc average return on tangible equity for 2023 was 17.43, a 11.84% decline from 2022.
• Cenovus Energy Inc average return on tangible equity for 2022 was 19.77, a 1312.14% decline from 2021.
• Cenovus Energy Inc average return on tangible equity for 2021 was 1.4, a 114.61% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.