Ovintiv Inc. (OVV) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.94	$1.74	-10.3%	—	$3B	—
Q1 26	$1.83	$2	+9.3%	—	$2.5B	—
Q4 25	$1.01	$1.39	+37.6%	—	$2.1B	—
Q3 25	$0.96	$1.03	+7.3%	—	$2.1B	—
Q2 25	$1.02	$1.02	0.0%	—	$2.3B	—
Q1 25	$1.18	$1.42	+20.3%	—	$2.4B	—
Q4 24	$1.19	$1.35	+13.4%	—	$2.2B	—
Q3 24	$1.17	$1.85	+58.1%	—	$2.3B	—
Q2 24	$1.31	$1.23	-6.1%	—	$2.3B	—
Q1 24	$1.41	$1.43	+1.4%	—	$2.4B	—
Q4 23	$1.92	$2.35	+22.4%	—	$3.2B	—
Q3 23	$1.75	$1.74	-0.6%	—	$2.6B	—
Q2 23	$0.82	$0.93	+13.4%	—	$2.5B	—
Q1 23	$1.83	$1.82	-0.5%	—	$2.6B	—
Q4 22	$1.87	$0.91	-51.3%	—	$3.2B	—
Q3 22	$1.97	$1.44	-26.9%	—	$3.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.83	—	—	—	—
FY24	—	$4.25	—	—	$9.2B	—
FY23	—	$8.02	—	—	$10.9B	—
FY22	—	$14.3	—	—	$12.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.9B	$4.4B	$5.9B	$6.7B	$6.1B	$8.7B	$12.5B	$10.9B	$9.2B	—
YoY change	-34%	+52.3%	+33.7%	+13.3%	-9.5%	+42.2%	+44%	-12.7%	-15.9%	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.9B	4.4B	5.9B	6.7B	6.1B	8.7B	12.5B	10.9B	9.2B	—
Cost of revenue	1.5B	1.7B	2.5B	3.3B	3.4B	4.4B	5.6B	5B	4.2B	3.9B
Gross profit	1.4B	2.7B	3.4B	3.4B	2.7B	4.2B	6.9B	5.9B	5B	5B
Gross margin	47.1%	61%	57.6%	50.8%	44.6%	48.8%	55.2%	54.2%	54.4%	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	275M	254M	157M	489M	395M	442M	422M	300M	323M	318M
Operating expenses	1.8B	1.6B	1.7B	2.8B	2.5B	2.7B	3B	2.9B	2.9B	318M
Operating income	-451M	1.1B	1.7B	598M	183M	1.5B	3.9B	3B	2.1B	2.1B
Operating margin	-15.5%	24%	28.5%	8.89%	3.01%	17.5%	30.9%	27.2%	22.6%	—
Non-operating income, net	-772M	725M	-180M	99M	-5.5B	60M	17M	-92M	-308M	-918M
Pretax income	-1.6B	1.4B	1.2B	315M	-5.7B	1.2B	3.6B	2.5B	1.4B	770M
Income tax	-676M	603M	94M	81M	367M	-177M	-77M	425M	226M	-472M
Net income	-944M	827M	1.1B	234M	-6.1B	1.4B	3.6B	2.1B	1.1B	1.2B
Net margin	-32.4%	18.6%	18%	3.48%	-100.2%	16.4%	29.2%	19.2%	12.3%	—
EBITDA	466M	1.9B	2.9B	2.6B	2.1B	2.7B	5B	4.8B	4.5B	4.3B
EPS	-5.35	4.25	5.57	0.9	-23.5	5.44	14.3	8.02	4.25	4.83
Diluted EPS	-5.35	4.25	5.57	0.9	-23.5	5.32	14.1	7.9	4.21	4.78

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.6B	3.2B	2.4B	2.3B	2.3B	2.2B	2.4B	2.3B	2.1B	2.1B	2.5B	3B
Cost of revenue	1.4B	1.2B	1.1B	1B	1.1B	1B	1B	1.1B	895M	914M	984M	1.2B
Gross profit	1.2B	1.9B	1.3B	1.3B	1.2B	1.2B	1.3B	1.2B	1.2B	1.2B	1.5B	1.9B
Gross margin	46.4%	61.3%	53.7%	56.2%	53.7%	54.3%	56.5%	53.9%	56.7%	57.4%	61.1%	61.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	78M	88M	102M	77M	72M	84M	83M	75M	77M	84M	92M	81M
Operating expenses	759M	754M	769M	731M	720M	704M	692M	737M	756M	748M	797M	811M
Operating income	469M	1.2B	494M	555M	527M	483M	651M	512M	415M	485M	751M	1B
Operating margin	17.7%	37.5%	21%	24.3%	22.7%	22.1%	27.4%	22.1%	20.1%	22.6%	29.7%	34.5%
Non-operating income, net	22M	-14M	32M	16M	134M	-478M	-747M	-18M	-132M	-20M	-1.5B	-400M
Pretax income	393M	1.1B	428M	466M	558M	-101M	-193M	399M	192M	372M	-827M	539M
Income tax	-13M	211M	90M	126M	51M	-41M	-34M	92M	44M	-574M	-197M	83M
Net income	406M	856M	338M	340M	507M	-60M	-159M	307M	148M	946M	-630M	456M
Net margin	15.3%	27%	14.4%	14.9%	21.8%	-2.74%	-6.69%	13.2%	7.16%	44.1%	-24.9%	15.1%
EBITDA	964M	1.7B	1.1B	1.1B	1.3B	1B	1.2B	1.1B	963M	1.1B	1.3B	1.6B
EPS	1.48	—	1.25	1.28	1.93	—	-0.61	1.19	0.58	—	-2.35	1.63
Diluted EPS	1.47	—	1.24	1.27	1.92	—	-0.61	1.18	0.57	—	-2.35	1.62

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	10.4B	—	5.5B	—	3.7B	8.8B	12.9B	11.4B	10.7B	10.1B	16.5B
Enterprise value	15.4B	—	10.2B	—	11.7B	14.4B	17.3B	18.1B	17B	16.2B	20.9B
Shares outstanding	176.5M	194.6M	192M	261.2M	259.8M	260.4M	253.6M	259.9M	264.6M	257.2M	257.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	5.19	—	—	6.2	3.54	5.47	9.53	8.12	16.6
P/S	3.55	—	0.93	—	0.61	1.01	1.03	1.05	1.17	—	1.73
P/B	1.69	—	0.75	—	0.97	1.73	1.67	1.1	1.04	0.9	1.43
EV/EBITDA	33	—	3.46	—	5.66	5.23	3.47	3.77	3.75	3.78	4.28
EV/Sales	5.26	—	1.72	—	1.93	1.66	1.39	1.66	1.85	—	2.19
Earnings yield	—	—	19.3%	—	—	16.1%	28.3%	18.3%	10.5%	12.3%	6.01%
FCF yield	-4.89%	—	5.86%	—	4.26%	18.3%	15.8%	12.5%	13.2%	14.9%	7.47%
PEG	—	—	—	—	—	—	—	—	—	—	0.45

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	47.1%	61%	57.6%	50.8%	44.6%	48.8%	55.2%	54.2%	54.4%	—	61.4%
Operating margin	-15.5%	24%	28.5%	8.89%	3.01%	17.5%	30.9%	27.2%	22.6%	—	36.2%
Net margin	-32.4%	18.6%	18%	3.48%	-100.2%	16.4%	29.2%	19.2%	12.3%	—	9.66%
ROE	-15.4%	12.3%	14.4%	2.36%	-158.9%	27.9%	47.3%	20.1%	10.9%	11.1%	8.41%
ROA	-6.44%	5.42%	6.97%	1.09%	-42.1%	10.1%	24.2%	10.4%	5.84%	6.09%	8.64%
ROIC	-4.06%	5.18%	12.9%	2.47%	1.55%	14.3%	31.6%	14.4%	10.4%	11.9%	17%
Return on tangible assets	-10.4%	8.23%	10.4%	1.44%	-66.1%	16.1%	36.8%	14.1%	7.94%	8.15%	6.29%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.23	1.37	1.33	0.77	0.51	0.58	0.61	0.6	0.51	0.54	1.01
Quick ratio	1.23	1.37	1.33	0.77	0.51	0.58	0.61	0.6	0.51	0.54	1.01
Debt / equity	0.95	0.88	0.77	0.83	2.09	1.14	0.58	0.64	0.61	0.57	0.44
Debt / assets	0.4	0.39	0.37	0.38	0.55	0.41	0.3	0.33	0.33	0.32	0.26
Net debt / EBITDA	10.7	2.67	1.58	3.11	3.86	2.03	0.9	1.39	1.38	1.43	0.88
Interest coverage	-3.08	4.94	4.31	1.82	-14.4	4.64	12.4	8.07	4.28	3.05	1.71
Effective tax rate	0%	42.2%	8.08%	25.7%	0%	0%	0%	16.9%	16.7%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	16.5	22.8	30.9	25.8	23.4	33.2	49.1	41.9	34.6	—	36
EPS (basic)	-5.35	4.25	5.57	0.9	-23.5	5.44	14.3	8.02	4.25	4.83	4.83
EPS (diluted)	-5.35	4.25	5.57	0.9	-23.5	5.32	14.1	7.9	4.21	4.78	3.58
Book value per share	34.7	34.6	38.8	38	14.8	19.5	30.3	39.9	39	43.5	41.6
FCF per share	-2.87	-3.83	1.69	1.13	0.61	6.18	8.02	5.48	5.36	5.85	8.04
Cash per share	4.72	3.69	5.51	0.73	0.04	0.75	0.02	0.01	0.16	1.09	2.54
Capex per share	—	—	—	—	—	—	—	—	—	8.35	7.76

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	—	22.4%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	58.8%	49.1%
Payout ratio	-5.4%	6.89%	5.24%	43.6%	-1.59%	8.62%	6.57%	14.7%	28.1%	24.8%	33.5%
Dividend yield	0.49%	—	1.01%	—	2.6%	1.39%	1.86%	2.69%	2.95%	3.06%	2.02%

Yield

2.02%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.30

ex-dividend Sep 15, 2026

Payout ratio

34%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.30
Jun 15, 2026	$0.30
Mar 13, 2026	$0.30

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.6B	$3.2B	$2.4B	$2.3B	$2.3B	$2.2B	$2.4B	$2.3B	$2.1B	$2.1B	$2.5B	$3B
YoY change	-25.4%	-1.43%	-7.8%	-9.1%	-12.3%	-30.9%	+1.06%	+1.31%	-11.1%	-1.87%	+6.52%	+30%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	834M	719M	1.1B	190M	10M	195M	5M	3M	42M	280M
Receivables	663M	774M	789M	1.2B	928M	1.3B	1.6B	1.4B	1.1B	1B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	1.9B	2.3B	2.7B	1.9B	1.2B	1.6B	1.7B	1.7B	1.4B	1.5B
Property, plant & equipment	-36.6B	-35.7B	-35.9B	-38.6B	-46.4B	-47.7B	-47.9B	-50B	-51.6B	-55.1B
Goodwill & intangibles	5.6B	5.2B	5.1B	5.2B	5.3B	5.3B	5.2B	5.2B	5.1B	5.2B
Total assets	14.7B	15.3B	15.3B	21.5B	14.5B	14.1B	15.1B	20B	19.3B	20.4B
Accounts payable	240M	258M	233M	355M	306M	328M	436M	586M	435M	390M
Short-term debt	59M	79M	584M	167M	668M	68M	475M	378M	690M	927M
Total current liabilities	1.6B	1.7B	2B	2.4B	2.4B	2.7B	2.8B	2.8B	2.7B	2.8B
Long-term debt	5.8B	5.8B	5.1B	8.1B	7.3B	5.7B	4B	6.3B	5.6B	5.5B
Total liabilities	8.5B	8.5B	7.9B	11.6B	10.6B	9B	7.4B	9.6B	8.9B	9.2B
Shareholders' equity	6.1B	6.7B	7.4B	9.9B	3.8B	5.1B	7.7B	10.4B	10.3B	11.2B
Total debt	5.8B	5.9B	5.7B	8.2B	8B	5.8B	4.5B	6.7B	6.3B	6.4B
Net debt	5B	5.2B	4.7B	8B	8B	5.6B	4.5B	6.7B	6.3B	6.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	3M	3M	5M	8M	9M	42M	8M	20M	25M	280M	26M	700M
Receivables	1.5B	1.4B	1.3B	1.2B	1.3B	1.1B	1.2B	1.1B	1.1B	1B	1.5B	1.3B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	1.6B	1.7B	1.5B	1.4B	1.5B	1.4B	1.4B	1.2B	1.2B	1.5B	1.8B	2.2B
Property, plant & equipment	-50B	-50B	-51.1B	-51.5B	-52.4B	-51.6B	-53.7B	-55.1B	-55.5B	-55.1B	-58B	-47.6B
Goodwill & intangibles	5.2B	5.2B	5.2B	5.2B	5.2B	5.1B	5.1B	5.2B	5.1B	5.2B	5.7B	4.6B
Total assets	19.9B	20B	19.8B	19.8B	19.9B	19.3B	19.6B	19.7B	19.4B	20.4B	22.3B	19.3B
Accounts payable	2.4B	586M	1.9B	1.9B	1.8B	435M	1.9B	1.8B	1.7B	390M	1.9B	2.1B
Short-term debt	790M	378M	823M	1.3B	1.1B	690M	1.2B	1B	931M	927M	1B	105M
Total current liabilities	3.5B	2.8B	2.8B	3.2B	2.9B	2.7B	3.2B	2.9B	2.6B	2.8B	3.2B	2.2B
Long-term debt	6.3B	6.3B	6.3B	5.7B	5.7B	5.6B	5.5B	5.5B	5.5B	5.5B	6.8B	4.9B
Total liabilities	10.3B	9.6B	9.6B	9.5B	9.2B	8.9B	9.5B	9.4B	9.2B	9.2B	10.7B	7.8B
Shareholders' equity	9.6B	10.4B	10.3B	10.3B	10.7B	10.3B	10.1B	10.4B	10.2B	11.2B	11.6B	11.5B
Total debt	7.1B	6.7B	7.1B	7B	6.8B	6.3B	6.8B	6.6B	6.4B	6.4B	7.8B	5B
Net debt	7.1B	6.7B	7.1B	7B	6.8B	6.3B	6.7B	6.6B	6.4B	6.4B	7.8B	4.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-944M	827M	1.1B	234M	-6.1B	1.4B	3.6B	2.1B	1.1B	1.2B
Depreciation & amortization	859M	833M	1.3B	2B	1.8B	1.2B	1.1B	1.8B	2.3B	2.2B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	46M	-27M	104M	131M	165M	-316M	-237M	634M	0	84M
Operating cash flow	-554M	2.4B	2.5B	2.4B	-3.9B	2.4B	4.5B	4.7B	3.4B	3.7B
Capital expenditure	—	—	—	—	—	—	—	—	—	-2.1B
Investing cash flow	1.1B	682M	476M	70M	-128M	994M	-58M	-2.7B	-30M	-2.8B
Dividends paid	-51M	-57M	-56M	-102M	-97M	-122M	-239M	-307M	-316M	-308M
Share repurchases	0	0	-250M	-1.3B	0	-111M	-719M	-426M	-597M	-307M
Financing cash flow	-104M	-139M	-396M	-1.2B	-206M	-2.4B	-2.3B	1.4B	-1.2B	-762M
Net change in cash	445M	2.9B	2.6B	1.2B	-4.2B	931M	2.2B	3.3B	2.1B	133M
Free cash flow	-507M	-746M	325M	295M	159M	1.6B	2B	1.4B	1.4B	1.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	406M	856M	338M	340M	507M	-60M	-159M	307M	148M	946M	-630M	456M
Depreciation & amortization	486M	556M	566M	580M	599M	545M	545M	556M	545M	533M	561M	519M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-194M	172M	-72M	46M	89M	-63M	-19M	135M	68M	-100M	-162M	173M
Operating cash flow	629M	1.7B	876M	1B	1.1B	363M	285M	1.1B	812M	954M	1.1B	1.6B
Capital expenditure	—	—	—	—	—	—	—	—	-544M	-465M	-605M	-574M
Investing cash flow	-47M	27M	-176M	-3M	-4M	153M	-426M	9M	-487M	-715M	-1.8B	2.2B
Dividends paid	-82M	-82M	-80M	-80M	-78M	-78M	-78M	-77M	-77M	-76M	-85M	-84M
Share repurchases	-45M	-53M	-250M	-184M	-163M	0	0	-147M	-160M	0	-84M	-345M
Financing cash flow	-101M	-562M	-359M	-376M	-453M	-504M	-97M	-430M	-358M	-64M	672M	-3.2B
Net change in cash	481M	1.2B	341M	668M	646M	12M	-238M	667M	-33M	175M	-69M	690M
Free cash flow	72M	702M	68M	398M	484M	468M	256M	492M	268M	489M	451M	1.1B

Date	Ratio
Jan 27, 2020	1:5
May 23, 2005	2:1

Ovintiv Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history