A Business at a Glance
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Items 1 and 2. Business and Properties Ovintiv is a leading North American oil and natural gas exploration and production company that is focused on developing its multi-basin portfolio of high-quality assets located in the United States and Canada. Ovintiv’s operations also include the marketing of oil, NGLs and natural gas. As at December 31, 2025, all of the Company’s reserves and production were located in North America. Ovintiv’s principal office is located at 370 – 17th Street, Suite 1700, Denver, Colorado 80202, U.S.A. Ovintiv’s shares of common stock are listed and posted for trading on the NYSE and the TSX under the symbol “OVV”. Available Information Ovintiv is subject to the informational requirements of the Exchange Act and, in accordance with the Exchange Act, it also files reports with and furnishes other information to the SEC.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Product Revenue | — | $4.54B | $4.45B | $4.56B | $3.42B | 50% |
Operating Segments | $3.37B | $4.54B | $4.44B | $4.55B | $3.41B | 50% |
Natural Gas Gathering and Processing, and Other | — | — | $7M | $8M | $32M | 0% |
Natural Gas Gathering and Processing | $10M | $5M | $7M | $8M | — | — |
Product Revenues Including Sale of Product Purchased from Third Parties | $5.64B | $7.96B | $7.04B | — | — | — |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 8.9B | 8.9B | 9.2B | 10.9B | 12.5B | 8.7B |
| Net Income | 1.2B | 1.2B | 1.1B | 2.1B | 3.6B | 1.4B |
| EPS | $4.78 | $4.78 | $4.21 | $7.90 | $14.08 | $5.32 |
| Free Cash Flow | 1.5B | 1.5B | 1.4B | 1.4B | 2.0B | 1.6B |
| ROIC | 10.4% | 6.8% | 8.0% | 16.8% | 35.3% | 14.0% |
| Gross Margin | 16.4% | 16.4% | 21.2% | 29.9% | 34.3% | 22.6% |
| Debt/Equity | 0.57 | 0.57 | 0.61 | 0.64 | 0.58 | 1.13 |
| Dividends/Share | $1.19 | $1.20 | $1.20 | $1.15 | $0.95 | $0.47 |
| Operating Income | 1.1B | 1.1B | 1.6B | 2.9B | 3.9B | 1.5B |
| Operating Margin | 12.7% | 12.7% | 17.3% | 26.3% | 30.9% | 17.5% |
| ROE | 11.1% | 11.5% | 10.9% | 23.1% | 57.0% | 31.8% |
| Shares Outstanding | 260M | 260M | 267M | 264M | 258M | 266M |
Ovintiv Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Ovintiv Inc. trades at 11.8x trailing earnings, compared to its 15-year median P/E of 5.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 10.6x vs a median of 7.4x. The company's 5-year average ROIC is 16.2% with a gross margin of 24.9%. Total shareholder yield (dividends + buybacks) is 4.2%. At current prices, the estimated annualized return to fair value is +34.8%.
Ovintiv Inc. (OVV) has a current P/E ratio of 11.8, compared to its historical median P/E of 5.7. The stock is currently considered Expensive based on its historical valuation range.
Ovintiv Inc. (OVV) has a 5-year average return on invested capital (ROIC) of 16.2%. This indicates strong capital allocation and a potential competitive advantage.
Ovintiv Inc. (OVV) has a market capitalization of $14.6B. It is classified as a large-cap stock.
Yes, Ovintiv Inc. (OVV) pays a dividend with a trailing twelve-month yield of 2.10%. The company also returns capital through share buybacks, with a buyback yield of 2.10%.
Based on historical P/E analysis, Ovintiv Inc. (OVV) appears expensive. The current P/E of 11.8 is 106% above its historical median of 5.7. The estimated fair value CAGR (P/E method) is 8.1%.
Ovintiv Inc. (OVV) operates in the Crude Petroleum & Natural Gas industry, within the Energy sector.
Ovintiv Inc. (OVV) reported annual revenue of $8.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Ovintiv Inc. (OVV) has a net profit margin of 13.9%. This is a healthy margin.
Ovintiv Inc. (OVV) generated $1.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Ovintiv Inc. (OVV) has a debt-to-equity ratio of 0.57. This indicates moderate leverage.
Ovintiv Inc. (OVV) reported earnings per share (EPS) of $4.78 in its most recent fiscal year.
Ovintiv Inc. (OVV) has a return on equity (ROE) of 11.5%. This indicates moderate shareholder returns.
Ovintiv Inc. (OVV) has a 5-year average gross margin of 24.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 9 years of financial data for Ovintiv Inc. (OVV), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Ovintiv Inc. (OVV) has a book value per share of $43.09, based on its most recent annual SEC filing.