Ovintiv (OVV) Financials

$63.08 +0.15 (+0.24%)

Closing price 03:59 PM Eastern

Extended Trading

$62.85 -0.23 (-0.37%)

As of 06:42 PM Eastern

Annual Income Statements for Ovintiv

This table shows Ovintiv's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	827	1,069	234	-6,097	1,416	3,637	2,085	1,125	1,242
Consolidated Net Income / (Loss)	827	1,069	234	-6,097	1,416	3,637	2,085	1,125	1,242
Net Income / (Loss) Continuing Operations	827	1,069	234	-6,097	1,416	3,637	2,085	1,125	1,242
Total Pre-Tax Income	1,430	1,163	315	-5,730	1,239	3,560	2,510	1,351	770
Total Operating Income	1,068	1,694	598	-5,397	1,519	3,853	2,864	1,579	1,131
Total Gross Profit	2,810	3,756	3,393	3,219	3,466	6,623	6,302	5,967	5,737
Total Revenue	4,443	5,939	6,726	6,087	8,658	12,464	10,883	9,152	8,908
Operating Revenue	4,443	5,939	6,726	6,087	8,658	12,464	10,883	9,152	8,908
Total Cost of Revenue	1,633	2,183	3,333	2,868	5,192	5,841	4,581	3,185	3,171
Operating Cost of Revenue	1,633	2,183	3,333	2,868	5,192	5,841	4,581	3,185	3,171
Total Operating Expenses	1,742	2,062	2,795	8,616	1,947	2,770	3,438	4,388	4,606
Selling, General & Admin Expense	254	157	489	395	442	422	393	365	331
Depreciation Expense	833	1,272	2,015	1,834	1,190	1,113	1,825	2,290	2,179
Other Operating Expenses / (Income)	655	633	291	807	315	1,235	1,220	1,283	1,176
Impairment Charge	-	0.00	0.00	5,580	-	0.00	0.00	450	920
Total Other Income / (Expense), net	362	-531	-283	-333	-280	-293	-354	-228	-361
Interest Expense	363	351	382	371	340	311	355	412	376
Other Income / (Expense), net	725	-180	99	38	60	18	1.00	184	15
Income Tax Expense	603	94	81	367	-177	-77	425	226	-472
Basic Earnings per Share	$4.25	$5.57	$0.90	($23.47)	$5.44	$14.34	$8.02	$4.25	$4.83
Weighted Average Basic Shares Outstanding	194.60M	192M	261.20M	259.80M	260.40M	253.60M	259.90M	264.60M	257.20M
Diluted Earnings per Share	$4.25	$5.57	$0.90	($23.47)	$5.32	$14.08	$7.90	$4.21	$4.78
Weighted Average Diluted Shares Outstanding	194.60M	192M	261.20M	259.80M	266.40M	258.40M	263.90M	267.40M	259.70M
Weighted Average Basic & Diluted Shares Outstanding	194.60M	192M	261.20M	259.86M	256.77M	243.64M	269.52M	260.32M	283.34M
Cash Dividends to Common per Share	$0.30	$0.30	$0.38	$0.38	$0.47	$0.95	$1.15	$1.20	$1.20

This table shows Ovintiv's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	336	406	856	338	340	507	-60	-159	307	148	946
Consolidated Net Income / (Loss)	336	406	856	338	340	507	-60	-159	307	148	946
Net Income / (Loss) Continuing Operations	336	406	856	338	340	507	-60	-159	307	148	946
Total Pre-Tax Income	437	393	1,067	428	466	558	-101	-193	399	192	372
Total Operating Income	531	467	1,188	494	556	527	2.00	-89	511	273	436
Total Gross Profit	1,373	1,370	1,305	1,250	1,542	1,289	1,888	1,577	1,224	1,336	1,600
Total Revenue	2,517	2,649	3,166	2,352	2,288	2,324	2,188	2,377	2,318	2,066	2,147
Operating Revenue	2,517	2,649	3,166	2,352	2,288	2,324	2,188	2,377	2,318	2,066	2,147
Total Cost of Revenue	1,144	1,279	1,861	1,102	746	1,035	300	800	1,094	730	547
Operating Cost of Revenue	1,144	1,279	1,861	1,102	746	1,035	300	800	1,094	730	547
Total Operating Expenses	842	903	117	756	986	762	1,886	1,666	713	1,063	1,164
Selling, General & Admin Expense	168	80	87	102	76	72	115	93	76	78	84
Depreciation Expense	419	486	556	566	580	599	545	545	556	545	533
Other Operating Expenses / (Income)	255	337	-526	88	330	91	776	298	81	299	498
Impairment Charge	-	-	-	0.00	0.00	0.00	-	730	0.00	141	49
Total Other Income / (Expense), net	-94	-74	-121	-66	-90	31	-103	-104	-112	-81	-64
Interest Expense	80	98	106	98	105	103	106	97	95	91	93
Other Income / (Expense), net	-14	24	-15	32	15	134	3.00	-7.00	-17	10	29
Income Tax Expense	101	-13	211	90	126	51	-41	-34	92	44	-574
Basic Earnings per Share	$1.35	$1.48	$3.20	$1.25	$1.28	$1.93	($0.21)	($0.61)	$1.19	$0.58	$3.67
Weighted Average Basic Shares Outstanding	249.40M	273.70M	259.90M	269.70M	266.20M	262.10M	264.60M	260.40M	259M	256.20M	257.20M
Diluted Earnings per Share	$1.34	$1.47	$3.12	$1.24	$1.27	$1.92	($0.22)	($0.61)	$1.18	$0.57	$3.64
Weighted Average Diluted Shares Outstanding	250.80M	276.30M	263.90M	272.30M	268.10M	264M	267.40M	260.40M	260.10M	258.10M	259.70M
Weighted Average Basic & Diluted Shares Outstanding	273.86M	272.90M	269.52M	266.98M	263.61M	260.32M	260.32M	259.82M	257.04M	253.26M	283.34M

This table details how cash moves in and out of Ovintiv's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-115	339	-868	-180	185	-190	-2.00	39	-7.00
Net Cash From Operating Activities	1,050	2,300	2,921	1,895	3,129	3,866	4,167	3,721	3,652
Net Cash From Continuing Operating Activities	1,050	2,300	2,921	1,895	3,129	3,866	4,167	3,721	3,652
Net Income / (Loss) Continuing Operations	827	1,069	234	-6,097	1,416	3,637	2,085	1,125	1,242
Consolidated Net Income / (Loss)	827	1,069	234	-6,097	1,416	3,637	2,085	1,125	1,242
Depreciation Expense	833	1,272	2,015	1,834	1,190	1,113	1,825	2,290	2,179
Non-Cash Adjustments To Reconcile Net Income	-983	-375	588	5,811	624	-553	-155	483	878
Changes in Operating Assets and Liabilities, net	373	334	84	347	-101	-331	412	-177	-647
Net Cash From Investing Activities	-1,037	-1,555	-2,556	-1,864	-525	-1,786	-5,519	-2,457	-2,884
Net Cash From Continuing Investing Activities	-1,037	-1,555	-2,556	-1,864	-525	-1,786	-5,519	-2,457	-2,884
Purchase of Property, Plant & Equipment	-1,796	-1,975	-2,626	-1,736	-1,519	-1,831	-2,744	-2,303	-2,147
Acquisitions	-54	-17	29	-	0.00	-286	-3,225	12	0.00
Sale of Property, Plant & Equipment	736	493	197	89	1,025	228	772	163	1,927
Divestitures	-	-	-	-	-	-	-277	-205	-2,537
Other Investing Activities, net	77	-56	-156	-217	-31	103	-45	-124	-127
Net Cash From Financing Activities	-139	-396	-1,238	-206	-2,419	-2,268	1,359	-1,231	-762
Net Cash From Continuing Financing Activities	-139	-396	-1,238	-206	-2,419	-2,268	1,359	-1,231	-762
Repayment of Debt	0.00	0.00	198	-272	-1,137	-1,241	-77	-34	-498
Repurchase of Common Equity	0.00	-250	-1,250	0.00	-111	-719	-426	-597	-307
Payment of Dividends	-57	-56	-102	-97	-122	-239	-307	-316	-308
Issuance of Debt	-	-	-	252	-950	0.00	2,169	-284	351
Other Net Changes in Cash	-	-	-	-	-	-	-9.00	6.00	-13

This table details how cash moves in and out of Ovintiv's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	26	-49	-	2.00	3.00	51	-17	-34	12	5.00	10
Net Cash From Operating Activities	831	906	1,362	659	1,020	1,022	1,020	873	1,013	812	954
Net Cash From Continuing Operating Activities	831	906	1,362	659	1,020	1,022	1,020	873	1,013	812	954
Net Income / (Loss) Continuing Operations	336	406	856	338	340	507	-60	-159	307	148	946
Consolidated Net Income / (Loss)	336	406	856	338	340	507	-60	-159	307	148	946
Depreciation Expense	419	486	556	566	580	599	545	545	556	545	533
Non-Cash Adjustments To Reconcile Net Income	-103	298	-286	73	2.00	-149	557	695	-16	172	27
Changes in Operating Assets and Liabilities, net	179	-284	236	-318	98	65	-22	-208	166	-53	-552
Net Cash From Investing Activities	-3,008	-854	-794	-761	-641	-516	-539	-895	-558	-453	-978
Net Cash From Continuing Investing Activities	-3,008	-854	-794	-761	-641	-516	-539	-895	-558	-453	-978
Purchase of Property, Plant & Equipment	-640	-834	-660	-591	-622	-538	-552	-617	-521	-544	-465
Sale of Property, Plant & Equipment	717	12	31	2.00	2.00	3.00	156	1,884	12	26	5.00
Other Investing Activities, net	155	27	-438	6.00	-16	26	-345	148	-2,359	65	2,019
Net Cash From Financing Activities	2,206	-101	-562	102	-376	-453	-504	-12	-430	-358	38
Net Cash From Continuing Financing Activities	2,206	-101	-562	102	-376	-453	-504	-12	-430	-358	38
Repayment of Debt	100	29	-316	461	-111	-210	-140	85	-685	-	102
Payment of Dividends	-82	-82	-82	-80	-80	-78	-78	-78	-77	-77	-76
Issuance of Debt	2,278	-	-109	-	-	-	-284	-	-	-121	-9.00

This table presents Ovintiv's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	15,344	21,487	14,469	14,055	15,056	19,987	19,254	20,390
Total Current Assets	2,676	1,869	1,247	1,587	1,695	1,676	1,369	1,523
Cash & Equivalents	1,058	190	10	195	5.00	3.00	42	35
Short-Term Investments	-	-	-	-	-	-	0.00	245
Accounts Receivable	789	1,235	928	1,294	1,594	1,442	1,183	1,128
Current Deferred & Refundable Income Taxes	275	296	272	97	43	17	36	29
Other Current Assets	554	148	37	1.00	53	214	108	86
Plant, Property, & Equipment, net	8,972	15,191	9,450	8,761	9,468	14,640	14,364	14,244
Plant, Property & Equipment, gross	47,093	55,828	57,756	58,322	59,108	66,477	67,638	71,431
Accumulated Depreciation	38,121	40,637	48,306	49,561	49,640	51,837	53,274	57,187
Total Noncurrent Assets	3,696	4,427	3,772	3,707	3,893	3,671	3,521	4,623
Goodwill	2,553	2,611	2,625	2,628	2,584	2,599	2,546	2,576
Noncurrent Deferred & Refundable Income Taxes	835	601	-	0.00	271	53	10	744
Other Noncurrent Operating Assets	308	1,215	1,147	1,079	1,038	1,019	965	1,303
Total Liabilities & Shareholders' Equity	15,344	21,487	14,469	14,055	15,056	19,987	19,254	20,390
Total Liabilities	7,897	11,557	10,632	8,981	7,367	9,617	8,923	9,195
Total Current Liabilities	2,016	2,432	2,423	2,748	2,780	2,812	2,681	2,795
Short-Term Debt	500	0.00	518	0.00	393	284	600	810
Accounts Payable	1,490	2,239	1,704	1,979	2,221	2,209	1,883	1,861
Current Deferred & Payable Income Tax Liabilities	1.00	1.00	3.00	4.00	4.00	232	9.00	5.00
Other Current Liabilities	25	192	198	765	162	87	189	119
Total Noncurrent Liabilities	5,881	9,125	8,209	6,233	4,587	6,805	6,242	6,400
Long-Term Debt	3,698	6,974	6,367	4,786	3,177	5,453	4,853	4,392
Asset Retirement Reserve & Litigation Obligation	365	425	401	339	281	276	315	388
Noncurrent Deferred & Payable Income Tax Liabilities	27	217	20	4.00	184	110	202	402
Other Noncurrent Operating Liabilities	1,791	1,509	1,421	1,104	945	966	872	1,218
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,447	9,930	3,837	5,074	7,689	10,370	10,331	11,195
Total Preferred & Common Equity	7,447	9,930	3,837	5,074	7,689	10,370	10,331	11,195
Total Common Equity	7,447	9,930	3,837	5,074	7,689	10,370	10,331	11,195
Common Stock	6,014	8,463	8,534	8,461	7,779	8,623	8,048	7,782
Retained Earnings	435	421	-5,773	-4,479	-1,081	697	1,506	2,440
Accumulated Other Comprehensive Income / (Loss)	998	1,046	1,076	1,092	991	1,050	777	973

This table presents Ovintiv's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	14,374	15,123	19,519	19,900	19,834	19,809	19,859	19,614	19,734	19,388
Total Current Assets	1,702	1,395	1,479	1,581	1,452	1,400	1,507	1,350	1,244	1,174
Cash & Equivalents	18	26	52	3.00	5.00	8.00	9.00	8.00	20	25
Accounts Receivable	1,626	1,277	1,253	1,524	1,270	1,208	1,290	1,240	1,121	1,059
Current Deferred & Refundable Income Taxes	57	3.00	7.00	4.00	31	67	64	22	5.00	13
Other Current Assets	1.00	89	167	50	146	117	144	80	98	77
Plant, Property, & Equipment, net	9,053	9,911	14,217	14,515	14,808	14,844	14,817	14,271	14,383	14,123
Plant, Property & Equipment, gross	58,233	59,928	64,992	65,450	66,831	67,291	68,080	68,833	70,376	70,453
Accumulated Depreciation	49,180	50,017	50,775	50,935	52,023	52,447	53,263	54,562	55,993	56,330
Total Noncurrent Assets	3,619	3,817	3,823	3,804	3,574	3,565	3,535	3,993	4,107	4,091
Goodwill	2,576	2,584	2,598	2,585	2,583	2,577	2,586	2,546	2,579	2,566
Noncurrent Deferred & Refundable Income Taxes	-	221	157	199	0.00	0.00	0.00	184	190	227
Other Noncurrent Operating Assets	1,043	1,012	1,068	1,020	991	988	949	1,263	1,338	1,298
Total Liabilities & Shareholders' Equity	14,374	15,123	19,519	19,900	19,834	19,809	19,859	19,614	19,734	19,388
Total Liabilities	7,824	7,229	10,203	10,348	9,572	9,481	9,204	9,534	9,357	9,154
Total Current Liabilities	3,309	2,632	3,310	3,543	2,783	3,200	2,892	3,164	2,874	2,637
Short-Term Debt	440	580	680	709	745	1,234	1,024	1,144	940	819
Accounts Payable	2,216	1,872	2,443	2,420	1,920	1,872	1,777	1,858	1,801	1,678
Current Deferred & Payable Income Tax Liabilities	7.00	47	97	151	10	2.00	4.00	14	18	28
Other Current Liabilities	646	133	90	263	108	92	87	148	115	112
Total Noncurrent Liabilities	4,515	4,597	6,893	6,805	6,789	6,281	6,312	6,370	6,483	6,517
Long-Term Debt	3,178	3,176	5,454	5,454	5,453	4,853	4,853	4,394	4,393	4,393
Asset Retirement Reserve & Litigation Obligation	229	276	283	267	269	261	263	427	438	433
Noncurrent Deferred & Payable Income Tax Liabilities	135	198	184	143	113	216	239	298	359	432
Other Noncurrent Operating Liabilities	973	947	972	941	954	951	957	1,251	1,293	1,259
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,550	7,894	9,316	9,552	10,262	10,328	10,655	10,080	10,377	10,234
Total Preferred & Common Equity	6,550	7,894	9,316	9,552	10,262	10,328	10,655	10,080	10,377	10,234
Total Common Equity	6,550	7,894	9,316	9,552	10,262	10,328	10,655	10,080	10,377	10,234
Common Stock	7,942	7,558	8,674	8,647	8,334	8,173	8,028	8,027	7,901	7,761
Retained Earnings	-2,355	-655	-401	-77	955	1,215	1,644	1,269	1,499	1,570
Accumulated Other Comprehensive Income / (Loss)	963	991	1,043	982	973	940	983	784	977	903

This table displays calculated financial ratios and metrics derived from Ovintiv's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	33.67%	13.25%	-9.50%	42.24%	43.96%	-12.68%	-15.91%	-2.67%
EBITDA Growth	0.00%	6.09%	-2.66%	-229.98%	178.55%	79.99%	-5.90%	-13.58%	-17.96%
EBIT Growth	0.00%	-15.56%	-53.96%	-868.87%	129.46%	145.16%	-25.99%	-38.46%	-35.00%
NOPAT Growth	0.00%	152.10%	-71.47%	-950.44%	145.95%	126.75%	-39.56%	-44.73%	38.74%
Net Income Growth	0.00%	29.26%	-78.11%	-2,705.56%	123.22%	156.85%	-42.67%	-46.04%	10.40%
EPS Growth	0.00%	29.26%	-78.11%	-2,707.78%	122.67%	164.66%	-43.89%	-46.71%	13.54%
Operating Cash Flow Growth	0.00%	119.05%	27.00%	-35.13%	65.12%	23.55%	7.79%	-10.70%	-1.85%
Free Cash Flow Firm Growth	0.00%	0.00%	37.07%	139.14%	25.13%	-15.65%	-205.27%	167.86%	-13.57%
Invested Capital Growth	0.00%	0.00%	57.87%	-35.91%	-9.77%	16.44%	43.10%	-2.25%	2.38%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-0.60%	26.45%	-1.01%	-0.42%	-9.65%	-0.46%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-26.53%	212.18%	-5.32%	6.25%	-22.53%	15.57%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-12.11%	467.21%	-6.88%	0.00%	-39.85%	67.06%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-11.65%	579.69%	-1.01%	-16.59%	-41.31%	229.39%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-11.08%	343.30%	-1.33%	-18.68%	-44.88%	426.27%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-11.07%	338.57%	-3.56%	-20.68%	-44.24%	419.57%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	-0.58%	0.68%	3.62%	13.23%	-8.42%	-1.78%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	10.43%	-2.46%	8.81%	17.32%	-12.47%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-6.54%	12.65%	10.88%	2.49%	-4.73%	4.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	63.25%	63.24%	50.45%	52.88%	40.03%	53.14%	50.01%	65.20%	64.40%
EBITDA Margin	59.10%	46.91%	40.32%	-57.91%	31.98%	39.99%	43.09%	44.29%	37.33%
Operating Margin	24.04%	28.52%	8.89%	-88.66%	17.54%	30.91%	26.32%	17.25%	12.70%
EBIT Margin	40.36%	25.49%	10.36%	-88.04%	18.24%	31.06%	26.33%	19.26%	12.86%
Profit (Net Income) Margin	18.61%	18.00%	3.48%	-100.16%	16.35%	29.18%	19.16%	12.29%	13.94%
Tax Burden Percent	57.83%	91.92%	74.29%	106.40%	114.29%	102.16%	83.07%	83.27%	161.30%
Interest Burden Percent	79.75%	76.82%	45.19%	106.92%	78.47%	91.97%	87.61%	76.63%	67.19%
Effective Tax Rate	42.17%	8.08%	25.71%	0.00%	-14.29%	-2.16%	16.93%	16.73%	-61.30%
Return on Invested Capital (ROIC)	0.00%	29.42%	3.25%	-27.55%	17.04%	37.63%	17.39%	8.26%	11.45%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-1.67%	-0.98%	-61.51%	11.46%	30.29%	11.07%	4.85%	0.18%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-0.71%	-0.56%	-61.02%	14.74%	19.36%	5.70%	2.61%	0.09%
Return on Equity (ROE)	0.00%	28.71%	2.69%	-88.57%	31.78%	56.99%	23.09%	10.87%	11.54%
Cash Return on Invested Capital (CROIC)	0.00%	-170.59%	-41.63%	16.22%	27.32%	22.44%	-18.06%	10.53%	9.10%
Operating Return on Assets (OROA)	0.00%	9.87%	3.78%	-29.81%	11.07%	26.59%	16.35%	8.99%	5.78%
Return on Assets (ROA)	0.00%	6.97%	1.27%	-33.91%	9.93%	24.99%	11.90%	5.73%	6.27%
Return on Common Equity (ROCE)	0.00%	28.71%	2.69%	-88.57%	31.78%	56.99%	23.09%	10.87%	11.54%
Return on Equity Simple (ROE_SIMPLE)	0.00%	14.35%	2.36%	-158.90%	27.91%	47.30%	20.11%	10.89%	0.00%
Net Operating Profit after Tax (NOPAT)	618	1,557	444	-3,778	1,736	3,936	2,379	1,315	1,824
NOPAT Margin	13.90%	26.22%	6.60%	-62.07%	20.05%	31.58%	21.86%	14.37%	20.48%
Net Nonoperating Expense Percent (NNEP)	0.00%	31.09%	4.24%	33.96%	5.58%	7.34%	6.32%	3.41%	11.27%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	34.96%	14.77%	8.33%	11.13%
Cost of Revenue to Revenue	36.75%	36.76%	49.55%	47.12%	59.97%	46.86%	49.99%	34.80%	35.60%
SG&A Expenses to Revenue	5.72%	2.64%	7.27%	6.49%	5.11%	3.39%	3.61%	3.99%	3.72%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	39.21%	34.72%	41.56%	141.55%	22.49%	22.22%	23.70%	47.95%	51.71%
Earnings before Interest and Taxes (EBIT)	1,793	1,514	697	-5,359	1,579	3,871	2,865	1,763	1,146
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,626	2,786	2,712	-3,525	2,769	4,984	4,690	4,053	3,325
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.90	1.64	1.55	1.12	1.02	0.89
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	2.86	3.39	2.33	1.50	1.35	1.15
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.57	0.96	0.96	1.07	1.15	1.11
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	5.86	3.28	5.59	9.37	7.99
Dividend Yield	0.53%	1.21%	1.83%	2.81%	1.47%	1.98%	2.69%	2.96%	3.06%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	17.07%	30.53%	17.88%	10.67%	12.51%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.97	1.33	1.38	1.08	1.01	0.92
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	1.70	1.49	1.24	1.60	1.74	1.67
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	4.65	3.11	3.71	3.94	4.47
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	8.16	4.00	6.07	9.05	12.96
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	7.42	3.93	7.31	12.13	8.14
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	5.46	4.12	4.00	4.18	4.29	4.07
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	4.65	4.63	6.59	0.00	9.51	10.24
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.56	0.70	1.79	0.94	0.46	0.55	0.53	0.46
Long-Term Debt to Equity	0.00	0.50	0.70	1.66	0.94	0.41	0.53	0.47	0.39
Financial Leverage	0.00	0.42	0.57	0.99	1.29	0.64	0.51	0.54	0.48
Leverage Ratio	0.00	2.06	2.12	2.61	3.20	2.28	1.94	1.90	1.84
Compound Leverage Factor	0.00	1.58	0.96	2.79	2.51	2.10	1.70	1.45	1.24
Debt to Total Capital	0.00%	36.05%	41.26%	64.21%	48.54%	31.71%	35.62%	34.55%	31.73%
Short-Term Debt to Total Capital	0.00%	4.29%	0.00%	4.83%	0.00%	3.49%	1.76%	3.80%	4.94%
Long-Term Debt to Total Capital	0.00%	31.76%	41.26%	59.38%	48.54%	28.22%	33.85%	30.75%	26.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	63.95%	58.74%	35.79%	51.46%	68.29%	64.38%	65.45%	68.27%
Debt to EBITDA	0.00	1.51	2.57	-1.95	1.73	0.72	1.22	1.35	1.56
Net Debt to EBITDA	0.00	1.13	2.50	-1.95	1.66	0.72	1.22	1.34	1.48
Long-Term Debt to EBITDA	0.00	1.33	2.57	-1.81	1.73	0.64	1.16	1.20	1.32
Debt to NOPAT	0.00	2.70	15.70	-1.82	2.76	0.91	2.41	4.15	2.85
Net Debt to NOPAT	0.00	2.02	15.27	-1.82	2.64	0.91	2.41	4.12	2.70
Long-Term Debt to NOPAT	0.00	2.38	15.70	-1.69	2.76	0.81	2.29	3.69	2.41
Altman Z-Score	0.00	0.00	0.00	-1.26	1.00	2.46	1.73	1.51	1.36
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.33	0.77	0.51	0.58	0.61	0.60	0.51	0.54
Quick Ratio	0.00	0.92	0.59	0.39	0.54	0.58	0.51	0.46	0.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-9,030	-5,683	2,224	2,783	2,347	-2,471	1,677	1,449
Operating Cash Flow to CapEx	99.06%	155.20%	120.26%	115.06%	633.40%	241.17%	211.31%	173.88%	1,660.00%
Free Cash Flow to Firm to Interest Expense	0.00	-25.73	-14.88	5.99	8.19	7.55	-6.96	4.07	3.85
Operating Cash Flow to Interest Expense	2.89	6.55	7.65	5.11	9.20	12.43	11.74	9.03	9.71
Operating Cash Flow Less CapEx to Interest Expense	-0.03	2.33	1.29	0.67	7.75	7.28	6.18	3.84	9.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.39	0.37	0.34	0.61	0.86	0.62	0.47	0.45
Accounts Receivable Turnover	0.00	7.53	6.65	5.63	7.79	8.63	7.17	6.97	7.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.66	0.56	0.49	0.95	1.37	0.90	0.63	0.62
Accounts Payable Turnover	0.00	1.47	1.79	1.45	2.82	2.78	2.46	1.56	1.69
Days Sales Outstanding (DSO)	0.00	48.49	54.92	64.85	46.84	42.29	50.91	52.35	47.35
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	249.13	204.18	250.91	129.46	131.23	148.62	234.47	215.48
Cash Conversion Cycle (CCC)	0.00	-200.64	-149.26	-186.05	-82.62	-88.94	-97.71	-182.13	-168.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	10,587	16,714	10,712	9,665	11,254	16,104	15,742	16,117
Invested Capital Turnover	0.00	1.12	0.49	0.44	0.85	1.19	0.80	0.57	0.56
Increase / (Decrease) in Invested Capital	0.00	10,587	6,127	-6,002	-1,047	1,589	4,850	-362	375
Enterprise Value (EV)	0.00	0.00	0.00	10,340	12,887	15,477	17,397	15,954	14,847
Market Capitalization	0.00	0.00	0.00	3,465	8,296	11,912	11,663	10,543	9,925
Book Value per Share	$0.00	$38.79	$38.02	$14.77	$19.43	$30.97	$38.00	$39.69	$44.20
Tangible Book Value per Share	$0.00	$25.49	$28.02	$4.66	$9.37	$20.56	$28.48	$29.91	$34.03
Total Capital	0.00	11,645	16,904	10,722	9,860	11,259	16,107	15,784	16,397
Total Debt	0.00	4,198	6,974	6,885	4,786	3,570	5,737	5,453	5,202
Total Long-Term Debt	0.00	3,698	6,974	6,367	4,786	3,177	5,453	4,853	4,392
Net Debt	0.00	3,140	6,784	6,875	4,591	3,565	5,734	5,411	4,922
Capital Expenditures (CapEx)	1,060	1,482	2,429	1,647	494	1,603	1,972	2,140	220
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	102	-753	-668	-1,356	-697	-855	-754	-742
Debt-free Net Working Capital (DFNWC)	0.00	1,160	-563	-658	-1,161	-692	-852	-712	-462
Net Working Capital (NWC)	0.00	660	-563	-1,176	-1,161	-1,085	-1,136	-1,312	-1,272
Net Nonoperating Expense (NNE)	-209	488	210	2,319	320	299	294	190	582
Net Nonoperating Obligations (NNO)	0.00	3,140	6,784	6,875	4,591	3,565	5,734	5,411	4,922
Total Depreciation and Amortization (D&A)	833	1,272	2,015	1,834	1,190	1,113	1,825	2,290	2,179
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	1.72%	-11.20%	-10.97%	-15.66%	-5.59%	-7.86%	-8.24%	-8.33%
Debt-free Net Working Capital to Revenue	0.00%	19.53%	-8.37%	-10.81%	-13.41%	-5.55%	-7.83%	-7.78%	-5.19%
Net Working Capital to Revenue	0.00%	11.11%	-8.37%	-19.32%	-13.41%	-8.71%	-10.44%	-14.34%	-14.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.90	($23.47)	$5.44	$14.34	$8.02	$4.25	$4.83
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	259.82M	259.80M	260.40M	253.60M	259.90M	264.60M	257.20M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.90	($23.47)	$5.32	$14.08	$7.90	$4.21	$4.78
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	259.82M	259.80M	266.40M	258.40M	263.90M	267.40M	259.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.90	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	261.20M	259.86M	256.77M	243.64M	269.52M	260.32M	283.34M
Normalized Net Operating Profit after Tax (NOPAT)	618	1,557	444	128	1,063	2,697	2,379	1,690	1,436
Normalized NOPAT Margin	13.90%	26.22%	6.60%	2.10%	12.28%	21.64%	21.86%	18.46%	16.12%
Pre Tax Income Margin	32.19%	19.58%	4.68%	-94.14%	14.31%	28.56%	23.06%	14.76%	8.64%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.94	4.31	1.82	-14.44	4.64	12.45	8.07	4.28	3.05
NOPAT to Interest Expense	1.70	4.44	1.16	-10.18	5.11	12.66	6.70	3.19	4.85
EBIT Less CapEx to Interest Expense	2.02	0.09	-4.53	-18.88	3.19	7.29	2.52	-0.92	2.46
NOPAT Less CapEx to Interest Expense	-1.22	0.21	-5.20	-14.62	3.65	7.50	1.15	-2.00	4.27
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	6.89%	5.24%	43.59%	-1.59%	8.62%	6.57%	14.72%	28.09%	24.80%
Augmented Payout Ratio	6.89%	28.62%	577.78%	-1.59%	16.45%	26.34%	35.16%	81.16%	49.52%

This table displays calculated financial ratios and metrics derived from Ovintiv's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-32.63%	-25.36%	-1.43%	-7.80%	-9.10%	-12.27%	-30.89%	1.06%	1.31%	-11.10%	-1.87%
EBITDA Growth	-47.74%	-40.72%	19.00%	4.20%	22.97%	28.97%	-68.19%	-58.88%	-8.78%	-34.29%	81.45%
EBIT Growth	-65.83%	-63.82%	0.00%	-23.10%	10.44%	34.62%	-99.57%	-118.25%	-13.49%	-57.19%	9,200.00%
NOPAT Growth	-71.78%	-62.25%	-31.92%	-27.57%	-0.64%	-0.75%	-99.85%	-115.97%	-3.08%	-56.05%	79,096.62%
Net Income Growth	-75.24%	-65.77%	-35.88%	-30.60%	1.19%	24.88%	-107.01%	-147.04%	-9.71%	-70.81%	1,676.67%
EPS Growth	-74.28%	-68.25%	-39.77%	-37.06%	-5.22%	30.61%	-107.05%	-149.19%	-7.09%	-70.31%	1,754.55%
Operating Cash Flow Growth	-38.17%	-5.82%	55.66%	-38.30%	22.74%	12.80%	-25.11%	32.47%	-0.69%	-20.55%	-6.47%
Free Cash Flow Firm Growth	-714.98%	-1,640.54%	-1,961.28%	-134.06%	88.56%	93.46%	109.33%	117.62%	284.01%	495.11%	101.91%
Invested Capital Growth	58.50%	54.80%	43.10%	41.56%	6.55%	5.16%	-2.25%	-5.14%	-4.37%	-6.67%	2.38%
Revenue Q/Q Growth	-1.33%	5.24%	19.52%	-25.71%	-2.72%	1.57%	-5.85%	8.64%	-2.48%	-10.87%	3.92%
EBITDA Q/Q Growth	-10.69%	4.38%	76.97%	-36.84%	5.40%	9.47%	-56.35%	-18.36%	133.85%	-21.14%	20.53%
EBIT Q/Q Growth	-24.42%	-5.03%	138.90%	-55.16%	8.56%	15.76%	-99.24%	-2,020.00%	614.58%	-42.71%	64.31%
NOPAT Q/Q Growth	-24.20%	18.17%	97.55%	-59.07%	3.98%	18.04%	-99.71%	-4,550.00%	731.10%	-46.48%	426.88%
Net Income Q/Q Growth	-31.01%	20.83%	110.84%	-60.51%	0.59%	49.12%	-111.83%	-165.00%	293.08%	-51.79%	539.19%
EPS Q/Q Growth	-31.98%	9.70%	112.24%	-60.26%	2.42%	51.18%	-111.46%	-177.27%	293.44%	-51.69%	538.60%
Operating Cash Flow Q/Q Growth	-22.19%	9.03%	50.33%	-51.62%	54.78%	0.20%	-0.20%	-14.41%	16.04%	-19.84%	17.49%
Free Cash Flow Firm Q/Q Growth	-178.00%	3.70%	23.28%	-13.96%	86.41%	44.94%	209.40%	115.38%	41.84%	18.22%	-44.09%
Invested Capital Q/Q Growth	32.47%	2.04%	2.49%	2.18%	-0.29%	0.71%	-4.73%	-0.84%	0.51%	-1.71%	4.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	54.55%	51.72%	41.22%	53.15%	57.04%	65.58%	86.29%	66.34%	52.80%	64.67%	74.52%
EBITDA Margin	37.19%	36.88%	54.61%	46.43%	50.31%	54.22%	25.14%	18.89%	45.30%	40.08%	46.48%
Operating Margin	21.10%	17.63%	37.52%	21.00%	24.30%	22.68%	0.09%	-3.74%	22.04%	13.21%	20.31%
EBIT Margin	20.54%	18.54%	37.05%	22.36%	24.96%	28.44%	0.23%	-4.04%	21.31%	13.70%	21.66%
Profit (Net Income) Margin	13.35%	15.33%	27.04%	14.37%	14.86%	21.82%	-2.74%	-6.69%	13.24%	7.16%	44.06%
Tax Burden Percent	76.89%	103.31%	80.22%	78.97%	72.96%	90.86%	59.41%	82.38%	76.94%	77.08%	254.30%
Interest Burden Percent	84.53%	80.04%	90.96%	81.37%	81.61%	84.42%	-2,020.00%	201.04%	80.77%	67.84%	80.00%
Effective Tax Rate	23.11%	-3.31%	19.78%	21.03%	27.04%	9.14%	0.00%	0.00%	23.06%	22.92%	-154.30%
Return on Invested Capital (ROIC)	15.28%	15.39%	23.95%	12.62%	11.66%	12.95%	0.04%	-1.50%	9.73%	5.71%	28.88%
ROIC Less NNEP Spread (ROIC-NNEP)	13.83%	13.83%	21.86%	11.57%	10.58%	13.42%	-1.07%	-3.15%	8.22%	4.58%	25.73%
Return on Net Nonoperating Assets (RNNOA)	9.12%	8.38%	11.26%	6.32%	6.55%	7.99%	-0.57%	-1.82%	4.52%	2.42%	12.35%
Return on Equity (ROE)	24.40%	23.77%	35.21%	18.95%	18.20%	20.94%	-0.54%	-3.32%	14.25%	8.13%	41.23%
Cash Return on Invested Capital (CROIC)	-16.21%	-20.96%	-18.06%	-18.51%	7.67%	8.87%	10.53%	10.61%	9.79%	10.37%	9.10%
Operating Return on Assets (OROA)	14.11%	11.82%	23.01%	13.67%	13.27%	14.49%	0.11%	-1.88%	9.92%	6.25%	9.73%
Return on Assets (ROA)	9.17%	9.77%	16.79%	8.78%	7.90%	11.12%	-1.28%	-3.11%	6.17%	3.27%	19.80%
Return on Common Equity (ROCE)	24.40%	23.77%	35.21%	18.95%	18.20%	20.94%	-0.54%	-3.32%	14.25%	8.13%	41.23%
Return on Equity Simple (ROE_SIMPLE)	35.90%	26.84%	0.00%	18.87%	18.78%	19.16%	0.00%	6.23%	5.73%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	408	482	953	390	406	479	1.40	-62	393	210	1,109
NOPAT Margin	16.22%	18.21%	30.10%	16.59%	17.73%	20.60%	0.06%	-2.62%	16.96%	10.19%	51.64%
Net Nonoperating Expense Percent (NNEP)	1.45%	1.57%	2.09%	1.05%	1.08%	-0.47%	1.10%	1.65%	1.51%	1.13%	3.15%
Return On Investment Capital (ROIC_SIMPLE)	-	-	5.92%	-	-	-	0.01%	-0.40%	2.50%	1.36%	6.76%
Cost of Revenue to Revenue	45.45%	48.28%	58.78%	46.85%	42.96%	34.42%	13.71%	33.66%	47.20%	35.33%	25.48%
SG&A Expenses to Revenue	6.67%	3.02%	2.75%	4.34%	3.32%	3.10%	5.26%	3.91%	3.28%	3.78%	3.91%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.45%	34.09%	3.70%	32.14%	32.74%	42.90%	86.20%	70.09%	30.76%	51.45%	54.22%
Earnings before Interest and Taxes (EBIT)	517	491	1,173	526	571	661	5.00	-96	494	283	465
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	936	977	1,729	1,092	1,151	1,260	550	449	1,050	828	998
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.97	1.33	1.12	1.37	1.21	0.95	1.02	1.11	0.95	1.01	0.89
Price to Tangible Book Value (P/TBV)	1.35	1.82	1.50	1.83	1.61	1.25	1.35	1.48	1.27	1.35	1.15
Price to Revenue (P/Rev)	0.77	1.16	1.07	1.32	1.20	1.00	1.15	1.21	1.07	1.16	1.11
Price to Earnings (P/E)	2.71	4.94	5.59	7.27	6.45	4.95	9.37	17.74	16.62	43.98	7.99
Dividend Yield	2.83%	2.38%	2.69%	2.33%	2.56%	3.13%	2.96%	2.80%	3.15%	2.97%	3.06%
Earnings Yield	36.86%	20.22%	17.88%	13.76%	15.50%	20.21%	10.67%	5.64%	6.02%	2.27%	12.51%
Enterprise Value to Invested Capital (EV/IC)	0.98	1.20	1.08	1.23	1.13	0.97	1.01	1.07	0.97	1.01	0.92
Enterprise Value to Revenue (EV/Rev)	1.28	1.72	1.60	1.90	1.78	1.58	1.74	1.82	1.65	1.74	1.67
Enterprise Value to EBITDA (EV/EBITDA)	2.98	4.27	3.71	4.28	3.76	3.05	3.94	4.89	4.59	5.41	4.47
Enterprise Value to EBIT (EV/EBIT)	4.06	6.58	6.07	7.49	6.73	5.45	9.05	14.61	14.28	22.69	12.96
Enterprise Value to NOPAT (EV/NOPAT)	4.15	6.60	7.31	9.08	8.34	7.13	12.13	19.46	17.81	28.11	8.14
Enterprise Value to Operating Cash Flow (EV/OCF)	4.06	5.12	4.18	5.39	4.71	3.93	4.29	4.24	3.87	4.19	4.07
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	15.24	11.17	9.51	9.80	9.68	9.40	10.24
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.66	0.65	0.55	0.60	0.59	0.55	0.53	0.55	0.51	0.51	0.46
Long-Term Debt to Equity	0.59	0.57	0.53	0.53	0.47	0.46	0.47	0.44	0.42	0.43	0.39
Financial Leverage	0.66	0.61	0.51	0.55	0.62	0.60	0.54	0.58	0.55	0.53	0.48
Leverage Ratio	2.28	2.13	1.94	1.93	2.00	1.97	1.90	1.94	1.91	1.88	1.84
Compound Leverage Factor	1.92	1.70	1.77	1.57	1.63	1.66	-38.29	3.90	1.54	1.27	1.47
Debt to Total Capital	39.70%	39.22%	35.62%	37.65%	37.08%	35.55%	34.55%	35.46%	33.95%	33.74%	31.73%
Short-Term Debt to Total Capital	4.40%	4.51%	1.76%	4.53%	7.52%	6.19%	3.80%	7.32%	5.98%	5.30%	4.94%
Long-Term Debt to Total Capital	35.30%	34.71%	33.85%	33.13%	29.56%	29.36%	30.75%	28.13%	27.96%	28.44%	26.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	60.30%	60.78%	64.38%	62.35%	62.92%	64.45%	65.45%	64.54%	66.05%	66.26%	68.27%
Debt to EBITDA	1.21	1.40	1.22	1.31	1.23	1.12	1.35	1.62	1.61	1.81	1.56
Net Debt to EBITDA	1.20	1.40	1.22	1.31	1.23	1.12	1.34	1.62	1.61	1.80	1.48
Long-Term Debt to EBITDA	1.07	1.24	1.16	1.15	0.98	0.93	1.20	1.29	1.33	1.53	1.32
Debt to NOPAT	1.68	2.16	2.41	2.78	2.73	2.62	4.15	6.46	6.25	9.41	2.85
Net Debt to NOPAT	1.67	2.16	2.41	2.78	2.73	2.62	4.12	6.45	6.23	9.37	2.70
Long-Term Debt to NOPAT	1.50	1.91	2.29	2.44	2.18	2.17	3.69	5.13	5.15	7.93	2.41
Altman Z-Score	1.09	1.24	1.45	1.50	1.39	1.31	1.21	1.13	1.19	1.21	1.25
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.45	0.45	0.60	0.52	0.44	0.52	0.51	0.43	0.43	0.45	0.54
Quick Ratio	0.39	0.43	0.51	0.46	0.38	0.45	0.46	0.39	0.40	0.41	0.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5,275	-5,080	-3,897	-4,441	-603	-332	363	783	1,110	1,312	734
Operating Cash Flow to CapEx	0.00%	110.22%	216.53%	111.88%	164.52%	191.03%	257.58%	0.00%	199.02%	156.76%	207.39%
Free Cash Flow to Firm to Interest Expense	-65.93	-51.83	-36.76	-45.32	-5.75	-3.22	3.43	8.07	11.69	14.42	7.89
Operating Cash Flow to Interest Expense	10.39	9.24	12.85	6.72	9.71	9.92	9.62	9.00	10.66	8.92	10.26
Operating Cash Flow Less CapEx to Interest Expense	11.35	0.86	6.92	0.71	3.81	4.73	5.89	22.06	5.31	3.23	5.31
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.64	0.62	0.61	0.53	0.51	0.47	0.47	0.47	0.46	0.45
Accounts Receivable Turnover	7.38	6.94	7.17	8.39	8.50	7.20	6.97	7.31	7.91	7.62	7.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.01	0.93	0.90	0.86	0.72	0.69	0.63	0.63	0.63	0.62	0.62
Accounts Payable Turnover	2.33	2.30	2.46	2.84	2.42	2.26	1.56	1.53	1.76	1.69	1.69
Days Sales Outstanding (DSO)	49.45	52.60	50.91	43.51	42.96	50.70	52.35	49.92	46.17	47.90	47.35
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	156.67	158.89	148.62	128.49	150.72	161.39	234.47	239.16	207.47	215.49	215.48
Cash Conversion Cycle (CCC)	-107.22	-106.29	-97.71	-84.98	-107.76	-110.69	-182.13	-189.24	-161.30	-167.59	-168.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	15,398	15,712	16,104	16,455	16,407	16,523	15,742	15,610	15,690	15,421	16,117
Invested Capital Turnover	0.94	0.85	0.80	0.76	0.66	0.63	0.57	0.57	0.57	0.56	0.56
Increase / (Decrease) in Invested Capital	5,683	5,562	4,850	4,831	1,009	811	-362	-845	-717	-1,102	375
Enterprise Value (EV)	15,155	18,838	17,397	20,266	18,592	15,967	15,954	16,672	15,199	15,566	14,847
Market Capitalization	9,073	12,678	11,663	14,073	12,513	10,099	10,543	11,142	9,886	10,379	9,925
Book Value per Share	$38.10	$34.88	$38.00	$38.05	$38.68	$40.42	$39.69	$38.72	$39.94	$39.82	$44.20
Tangible Book Value per Share	$27.47	$25.44	$28.48	$28.47	$29.03	$30.61	$29.91	$28.94	$30.01	$29.83	$34.03
Total Capital	15,450	15,715	16,107	16,460	16,415	16,532	15,784	15,618	15,710	15,446	16,397
Total Debt	6,134	6,163	5,737	6,198	6,087	5,877	5,453	5,538	5,333	5,212	5,202
Total Long-Term Debt	5,454	5,454	5,453	5,453	4,853	4,853	4,853	4,394	4,393	4,393	4,392
Net Debt	6,082	6,160	5,734	6,193	6,079	5,868	5,411	5,530	5,313	5,187	4,922
Capital Expenditures (CapEx)	-77	822	629	589	620	535	396	-1,267	509	518	460
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,203	-1,256	-855	-591	-574	-370	-754	-678	-710	-669	-742
Debt-free Net Working Capital (DFNWC)	-1,151	-1,253	-852	-586	-566	-361	-712	-670	-690	-644	-462
Net Working Capital (NWC)	-1,831	-1,962	-1,136	-1,331	-1,800	-1,385	-1,312	-1,814	-1,630	-1,463	-1,272
Net Nonoperating Expense (NNE)	72	76	97	52	66	-28	61	97	86	62	163
Net Nonoperating Obligations (NNO)	6,082	6,160	5,734	6,193	6,079	5,868	5,411	5,530	5,313	5,187	4,922
Total Depreciation and Amortization (D&A)	419	486	556	566	580	599	545	545	556	545	533
Debt-free, Cash-free Net Working Capital to Revenue	-10.17%	-11.49%	-7.86%	-5.53%	-5.49%	-3.65%	-8.24%	-7.39%	-7.71%	-7.48%	-8.33%
Debt-free Net Working Capital to Revenue	-9.73%	-11.46%	-7.83%	-5.48%	-5.41%	-3.56%	-7.78%	-7.30%	-7.49%	-7.20%	-5.19%
Net Working Capital to Revenue	-15.48%	-17.95%	-10.44%	-12.46%	-17.22%	-13.67%	-14.34%	-19.77%	-17.70%	-16.35%	-14.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.35	$1.48	$3.20	$1.25	$1.28	$1.93	($0.21)	($0.61)	$1.19	$0.58	$3.67
Adjusted Weighted Average Basic Shares Outstanding	249.40M	273.70M	259.90M	269.70M	266.20M	262.10M	264.60M	260.40M	259M	256.20M	257.20M
Adjusted Diluted Earnings per Share	$1.34	$1.47	$3.12	$1.24	$1.27	$1.92	($0.22)	($0.61)	$1.18	$0.57	$3.64
Adjusted Weighted Average Diluted Shares Outstanding	250.80M	276.30M	263.90M	272.30M	268.10M	264M	267.40M	260.40M	260.10M	258.10M	259.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	273.86M	272.90M	269.52M	266.98M	263.61M	260.32M	260.32M	259.82M	257.04M	253.26M	283.34M
Normalized Net Operating Profit after Tax (NOPAT)	408	327	953	390	406	479	1.40	449	393	319	340
Normalized NOPAT Margin	16.22%	12.34%	30.10%	16.59%	17.73%	20.60%	0.06%	18.88%	16.96%	15.45%	15.81%
Pre Tax Income Margin	17.36%	14.84%	33.70%	18.20%	20.37%	24.01%	-4.62%	-8.12%	17.21%	9.29%	17.33%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.46	5.01	11.07	5.37	5.44	6.42	0.05	-0.99	5.20	3.11	5.00
NOPAT to Interest Expense	5.10	4.92	8.99	3.98	3.86	4.65	0.01	-0.64	4.14	2.31	11.92
EBIT Less CapEx to Interest Expense	7.43	-3.38	5.13	-0.64	-0.47	1.22	-3.69	12.07	-0.16	-2.58	0.05
NOPAT Less CapEx to Interest Expense	6.07	-3.46	3.06	-2.03	-2.04	-0.55	-3.72	12.42	-1.22	-3.38	6.98
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	7.95%	11.15%	14.72%	16.84%	16.70%	15.68%	28.09%	50.00%	52.27%	131.36%	24.80%
Augmented Payout Ratio	33.10%	33.03%	35.16%	39.41%	44.12%	47.53%	81.16%	105.25%	104.37%	261.44%	49.52%

Financials Breakdown Chart

Key Financial Trends

Ovintiv Inc. (OVV) has shown solid cash flow generation in 2025 with improving profitability, while revenue remains cyclical and tied to energy prices. Below are the key takeaways from the last four years of quarterly statements, focused for retail investors.

Strong quarterly cash flow and free cash flow in 2025: Net cash from continuing operating activities runs around $0.86B–$0.95B per quarter, and free cash flow in Q4 2025 was about $489M (CFO of $954M minus capex of $465M).
Healthy gross margins in 2025, with Q4 2025 gross margin near 74–75% (Gross Profit $1.6B on Revenue $2.15B).
Solid quarterly earnings in Q4 2025: Net income attributable to common shareholders ≈ $946M, with diluted earnings per share ≈ $3.64.
Stable dividend policy: cash dividends per share of $0.30, providing ongoing shareholder income.
Balance sheet remains solid: total assets around $19.6B, total equity roughly $10.3–$10.6B, and a moderate debt load (long‑term debt typically in the $4.3B–$5.4B range).
Revenue is cyclical and energy-price driven: 2024 revenue trended lower than peak 2023 levels, with 2025 showing cash-flow strength but not a full reset of revenue to prior highs.
Occasional impairment charges: impairment expenses occur in select quarters (e.g., $141M in 2024 Q3) and are non‑cash, affecting quarterly earnings but not cash flow.
Debt financing activity fluctuates: quarterly financing cash flows vary, though 2025 results show manageable overall debt servicing alongside operating cash flow strength.
Earnings per share can be volatile: some quarters show negative EPS (for example, 2025 Q1), while other quarters post solid positive EPS, reflecting quarterly timing and cost structure shifts.
Profitability can swing with commodity cycles: despite 2025 gains, certain quarters (notably 2025 Q1 and 2024 Q4) display lower profitability or modest losses due to costs, taxes, and price input volatility.

05/05/26 06:50 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Ovintiv's Financials

When does Ovintiv's financial year end?

According to the most recent income statement we have on file, Ovintiv's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Ovintiv's net income changed over the last 8 years?

Ovintiv's net income appears to be on an upward trend, with a most recent value of $1.24 billion in 2025, rising from $827 million in 2017. The previous period was $1.13 billion in 2024. See where experts think Ovintiv is headed by visiting Ovintiv's forecast page.

What is Ovintiv's operating income?

Ovintiv's total operating income in 2025 was $1.13 billion, based on the following breakdown:

Total Gross Profit: $5.74 billion
Total Operating Expenses: $4.61 billion

How has Ovintiv's revenue changed over the last 8 years?

Over the last 8 years, Ovintiv's total revenue changed from $4.44 billion in 2017 to $8.91 billion in 2025, a change of 100.5%.

How much debt does Ovintiv have?

Ovintiv's total liabilities were at $9.20 billion at the end of 2025, a 3.0% increase from 2024, and a 16.4% increase since 2018.

How much cash does Ovintiv have?

In the past 7 years, Ovintiv's cash and equivalents has ranged from $3 million in 2023 to $1.06 billion in 2018, and is currently $35 million as of their latest financial filing in 2025.

How has Ovintiv's book value per share changed over the last 8 years?

Over the last 8 years, Ovintiv's book value per share changed from 0.00 in 2017 to 44.20 in 2025, a change of 4,420.4%.

Related Companies

Financial statements for NYSE:OVV last updated on 2/26/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Ovintiv (OVV) Financials

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Ovintiv (OVV) Financials

Annual Income Statements for Ovintiv

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Quarterly Metrics And Ratios for Ovintiv

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