Ovintiv Inc. (OVV) 10-Year Financial Performance & Capital Metrics

OVV • • Industrial / General

EnergyOil & Gas E&PUnconventional Shale E&PMulti-Basin Diversified Operators

AboutOvintiv Inc., together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta. Its other upstream assets comprise Bakken in North Dakota, and Uinta in central Utah; and Horn River in northeast British Columbia, and Wheatland in southern Alberta. The company was formerly known as Encana Corporation and changed its name to Ovintiv Inc. in January 2020. Ovintiv Inc. was incorporated in 2020 and is based in Denver, Colorado.Show more

Revenue $9.15B -15.9%
EBITDA $3.87B -17.5%
Net Income $1.13B -46.0%
EPS (Diluted) 4.21 -46.7%
Gross Margin 54.45% +0.4%
EBITDA Margin 42.27% -1.9%
Operating Margin 17.25% -34.4%
Net Margin 12.29% -35.8%
ROE 10.87% -52.9%
ROIC 7.04% -52.1%
Debt/Equity 0.61 -5.5%
Interest Coverage 3.83 -52.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 30.3%
✓Strong 5Y profit CAGR of 36.9%
✓FCF machine: 15.5% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 3.0%
✓Trading at only 1.0x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.33%

5Y6.35%

3Y1.87%

TTM-12.11%

Profit (Net Income) CAGR

10Y-10.45%

5Y36.89%

3Y-7.38%

TTM-88.44%

EPS CAGR

10Y-15.58%

5Y36.15%

3Y-7.5%

TTM-87.93%

ROCE

10Y Avg5.13%

5Y Avg7.96%

3Y Avg20.49%

Latest9.36%

Peer Comparison

Multi-Basin Diversified Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CTRACoterra Energy Inc.	19.59B	25.73	17.04	-3.92%	23.47%	11.18%	5.23%	0.29
AMPYAmplify Energy Corp.	194.28M	4.80	15.48	-4.2%	-10.1%	-7.09%		0.32
CNQCanadian Natural Resources Limited	71.03B	34.10	11.96	-12.68%	15.49%	16.45%	11.4%	0.51
BTEBaytex Energy Corp.	2.6B	3.38	11.27	24.43%	5.6%	5.12%	22.87%	0.55
OVVOvintiv Inc.	10.12B	39.95	9.49	-15.91%	2.65%	2.31%	14.02%	0.61
DVNDevon Energy Corporation	22.78B	36.32	7.95	2.82%	16.11%	17.71%		0.63
CRGYCrescent Energy Company	2.76B	8.39	-9.53	23.01%	0.66%	0.53%		0.72

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.42B	2.92B	4.44B	5.94B	6.73B	6.09B	8.66B	12.46B	10.88B	9.15B
Revenue Growth %	-0.45%	-0.34%	0.52%	0.34%	0.13%	-0.1%	0.42%	0.44%	-0.13%	-0.16%
Cost of Goods Sold+	1.96B	1.54B	1.73B	2.52B	3.31B	3.37B	4.43B	5.58B	4.98B	4.17B
COGS % of Revenue	0.44%	0.53%	0.39%	0.42%	0.49%	0.55%	0.51%	0.45%	0.46%	0.46%
Gross Profit+	2.47B	1.37B	2.71B	3.42B	3.41B	2.71B	4.22B	6.88B	5.9B	4.98B
Gross Margin %	0.56%	0.47%	0.61%	0.58%	0.51%	0.45%	0.49%	0.55%	0.54%	0.54%
Gross Profit Growth %	-0.49%	-0.44%	0.97%	0.26%	-0%	-0.21%	0.56%	0.63%	-0.14%	-0.16%
Operating Expenses+	8.77B	3.25B	1.64B	1.73B	2.82B	8.11B	2.71B	3.03B	3.04B	3.4B
OpEx % of Revenue	1.98%	1.12%	0.37%	0.29%	0.42%	1.33%	0.31%	0.24%	0.28%	0.37%
Selling, General & Admin	211M	275M	254M	157M	489M	395M	442M	422M	300M	323M
SG&A % of Revenue	0.05%	0.09%	0.06%	0.03%	0.07%	0.06%	0.05%	0.03%	0.03%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	8.56B	2.98B	1.39B	1.57B	2.33B	7.72B	2.26B	2.61B	2.74B	3.08B
Operating Income+	172M	-1.88B	1.07B	1.69B	598M	-5.4B	1.52B	3.85B	2.86B	1.58B
Operating Margin %	0.04%	-0.64%	0.24%	0.29%	0.09%	-0.89%	0.18%	0.31%	0.26%	0.17%
Operating Income Growth %	-0.93%	-11.94%	1.57%	0.59%	-0.65%	-10.03%	1.28%	1.54%	-0.26%	-0.45%
EBITDA+	1.66B	-1.02B	1.9B	2.97B	2.61B	-3.56B	2.71B	4.97B	4.69B	3.87B
EBITDA Margin %	0.38%	-0.35%	0.43%	0.5%	0.39%	-0.59%	0.31%	0.4%	0.43%	0.42%
EBITDA Growth %	-0.59%	-1.62%	2.86%	0.56%	-0.12%	-2.36%	1.76%	0.83%	-0.06%	-0.17%
D&A (Non-Cash Add-back)	1.49B	859M	833M	1.27B	2.02B	1.83B	1.19B	1.11B	1.82B	2.29B
EBIT	-7.56B	-1.22B	1.79B	1.51B	697M	-5.36B	1.58B	3.87B	2.87B	1.76B
Net Interest Income+	-449M	-397M	-363M	-351M	-382M	-371M	-340M	-311M	-355M	-412M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	449M	397M	363M	351M	382M	371M	340M	311M	355M	412M
Other Income/Expense	-1.71B	261M	362M	-531M	-283M	-333M	-280M	-293M	-354M	-228M
Pretax Income+	-8.01B	-1.62B	1.43B	1.16B	315M	-5.73B	1.24B	3.56B	2.51B	1.35B
Pretax Margin %	-1.81%	-0.56%	0.32%	0.2%	0.05%	-0.94%	0.14%	0.29%	0.23%	0.15%
Income Tax+	-2.85B	-676M	603M	94M	81M	367M	-177M	-77M	425M	226M
Effective Tax Rate %	0.64%	0.58%	0.58%	0.92%	0.74%	1.06%	1.14%	1.02%	0.83%	0.83%
Net Income+	-5.17B	-944M	827M	1.07B	234M	-6.1B	1.42B	3.64B	2.08B	1.13B
Net Margin %	-1.17%	-0.32%	0.19%	0.18%	0.03%	-1%	0.16%	0.29%	0.19%	0.12%
Net Income Growth %	-2.52%	0.82%	1.88%	0.29%	-0.78%	-27.06%	1.23%	1.57%	-0.43%	-0.46%
Net Income (Continuing)	-5.17B	-944M	827M	1.07B	234M	-6.1B	1.42B	3.64B	2.08B	1.13B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-31.41	-5.35	4.25	5.57	0.90	-23.47	5.32	14.08	7.90	4.21
EPS Growth %	-2.37%	0.83%	1.79%	0.31%	-0.84%	-27.08%	1.23%	1.65%	-0.44%	-0.47%
EPS (Basic)	-31.41	-5.35	4.25	5.57	0.90	-23.47	5.44	14.34	8.02	4.25
Diluted Shares Outstanding	164.42M	176.52M	194.6M	192M	261.2M	259.8M	266.4M	258.4M	263.9M	267.4M
Basic Shares Outstanding	164.42M	176.45M	194.6M	191.96M	261.2M	259.8M	260.4M	253.6M	259.9M	264.6M
Dividend Payout Ratio	-	-	0.07%	0.05%	0.44%	-	0.09%	0.07%	0.15%	0.28%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.61B	1.92B	2.27B	2.68B	1.87B	1.25B	1.59B	1.7B	1.68B	1.37B
Cash & Short-Term Investments	271M	834M	719M	1.06B	190M	10M	195M	5M	3M	42M
Cash Only	271M	834M	719M	1.06B	190M	10M	195M	5M	3M	42M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	602M	634M	716M	730M	1.53B	1.2B	1.39B	1.64B	1.34B	1.12B
Days Sales Outstanding	49.69	79.3	58.82	44.86	83.08	71.96	58.64	47.94	45.11	44.71
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	18M	11M	37M	44M	100M	14M	-27M	15M	214M	108M
Total Non-Current Assets+	14.04B	12.73B	13B	12.67B	19.62B	13.22B	12.47B	13.36B	18.31B	17.89B
Property, Plant & Equipment	9.86B	8.14B	8.95B	8.97B	16.24B	10.44B	9.69B	10.34B	15.53B	15.15B
Fixed Asset Turnover	0.45x	0.36x	0.50x	0.66x	0.41x	0.58x	0.89x	1.21x	0.70x	0.60x
Goodwill	2.79B	2.78B	2.61B	2.55B	2.61B	2.63B	2.63B	2.58B	2.6B	2.55B
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	244M	115M	344M	262M	28M	30M	27M	21M	26M	33M
Other Non-Current Assets	65M	39M	46M	46M	140M	126M	123M	147M	99M	144M
Total Assets+	15.64B	14.65B	15.27B	15.34B	21.49B	14.47B	14.05B	15.06B	19.99B	19.25B
Asset Turnover	0.28x	0.20x	0.29x	0.39x	0.31x	0.42x	0.62x	0.83x	0.54x	0.48x
Asset Growth %	-0.36%	-0.06%	0.04%	0.01%	0.4%	-0.33%	-0.03%	0.07%	0.33%	-0.04%
Total Current Liabilities+	1.33B	1.56B	1.66B	2.02B	2.43B	2.42B	2.75B	2.78B	2.81B	2.68B
Accounts Payable	254M	240M	258M	233M	355M	306M	328M	436M	586M	435M
Days Payables Outstanding	47.42	56.74	54.34	33.76	39.12	33.11	27	28.5	42.93	38.08
Short-Term Debt	54M	59M	79M	584M	0	518M	0	393M	284M	600M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	1.02B	1.17B	1.16B	1.07B	343M	194M	917M	287M	72M	161M
Current Ratio	1.21x	1.23x	1.37x	1.33x	0.77x	0.51x	0.58x	0.61x	0.60x	0.51x
Quick Ratio	1.21x	1.23x	1.37x	1.33x	0.77x	0.51x	0.58x	0.61x	0.60x	0.51x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	8.14B	6.96B	6.88B	5.88B	9.13B	8.21B	6.23B	4.59B	6.8B	6.24B
Long-Term Debt	5.33B	4.2B	4.2B	3.7B	6.97B	6.37B	4.79B	3.18B	5.45B	4.85B
Capital Lease Obligations	1.59B	1.57B	1.64B	1.44B	1.1B	977M	922M	841M	852M	749M
Deferred Tax Liabilities	24M	31M	34M	27M	217M	20M	4M	184M	110M	202M
Other Non-Current Liabilities	1.17B	1.17B	1.01B	721M	836M	845M	521M	385M	390M	438M
Total Liabilities	9.48B	8.53B	8.54B	7.9B	11.56B	10.63B	8.98B	7.37B	9.62B	8.92B
Total Debt+	7.01B	5.83B	5.92B	5.72B	8.24B	8.01B	5.78B	4.49B	6.68B	6.29B
Net Debt	6.74B	4.99B	5.2B	4.66B	8.05B	8B	5.58B	4.49B	6.68B	6.25B
Debt / Equity	1.14x	0.95x	0.88x	0.77x	0.83x	2.09x	1.14x	0.58x	0.64x	0.61x
Debt / EBITDA	4.22x	-	3.11x	1.93x	3.15x	-	2.13x	0.90x	1.43x	1.63x
Net Debt / EBITDA	4.06x	-	2.73x	1.57x	3.08x	-	2.06x	0.90x	1.42x	1.62x
Interest Coverage	0.38x	-4.74x	2.94x	4.83x	1.57x	-14.55x	4.47x	12.39x	8.07x	3.83x
Total Equity+	6.17B	6.13B	6.73B	7.45B	9.93B	3.84B	5.07B	7.69B	10.37B	10.33B
Equity Growth %	-0.36%	-0.01%	0.1%	0.11%	0.33%	-0.61%	0.32%	0.52%	0.35%	-0%
Book Value per Share	37.51	34.70	34.57	38.79	38.02	14.77	19.05	29.76	39.30	38.64
Total Shareholders' Equity	6.17B	6.13B	6.73B	7.45B	9.93B	3.84B	5.07B	7.69B	10.37B	10.33B
Common Stock	3.62B	4.76B	4.76B	4.66B	7.06B	3M	3M	3M	3M	3M
Retained Earnings	-202M	-1.2B	-429M	435M	421M	-5.77B	-4.48B	-1.08B	697M	1.51B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1.39B	1.21B	1.04B	998M	1.05B	1.08B	1.09B	991M	1.05B	777M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.68B	625M	1.05B	2.3B	2.92B	1.9B	3.13B	3.87B	4.17B	3.72B
Operating CF Margin %	0.38%	0.21%	0.24%	0.39%	0.43%	0.31%	0.36%	0.31%	0.38%	0.41%
Operating CF Growth %	-0.37%	-0.63%	0.68%	1.19%	0.27%	-0.35%	0.65%	0.24%	0.08%	-0.11%
Net Income	-5.17B	-944M	827M	1.07B	234M	-6.1B	1.42B	3.64B	2.08B	1.13B
Depreciation & Amortization	1.49B	859M	833M	1.27B	2.02B	1.83B	1.19B	1.11B	1.82B	2.29B
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-2.81B	-598M	666M	149M	94M	381M	-21M	-87M	144M	144M
Other Non-Cash Items	7.91B	1.5B	-1.02B	-435M	491M	5.64B	585M	-610M	-217M	409M
Working Capital Changes	262M	-187M	-253M	245M	87M	139M	-41M	-187M	330M	-247M
Change in Receivables	314M	86M	-21M	-150M	109M	146M	-333M	-304M	352M	256M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-665M	-29M	-1.04B	-1.55B	-2.56B	-1.86B	-525M	-1.79B	-5.52B	-2.46B
Capital Expenditures	-2.23B	-1.13B	-1.8B	-1.98B	-2.63B	-1.74B	-1.52B	-1.83B	-2.74B	-2.3B
CapEx % of Revenue	0.5%	0.39%	0.4%	0.33%	0.39%	0.29%	0.18%	0.15%	0.25%	0.25%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	71M	0	77M	-56M	0	0	0	103M	-45M	-124M
Cash from Financing+	-1.05B	-38M	-139M	-396M	-1.24B	-206M	-2.42B	-2.27B	1.36B	-1.23B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-152M	-51M	-57M	-56M	-102M	-97M	-122M	-239M	-307M	-316M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	0	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-551M	-507M	-746M	325M	295M	159M	1.61B	2.04B	1.42B	1.42B
FCF Margin %	-0.12%	-0.17%	-0.17%	0.05%	0.04%	0.03%	0.19%	0.16%	0.13%	0.15%
FCF Growth %	-4.91%	0.08%	-0.47%	1.44%	-0.09%	-0.46%	9.13%	0.26%	-0.3%	-0%
FCF per Share	-3.35	-2.87	-3.83	1.69	1.13	0.61	6.04	7.88	5.39	5.30
FCF Conversion (FCF/Net Income)	-0.33x	-0.66x	1.27x	2.15x	12.48x	-0.31x	2.21x	1.06x	2.00x	3.31x
Interest Paid	602M	397M	370M	367M	415M	385M	370M	376M	308M	426M
Taxes Paid	0	-19M	0	0	22M	0	0	0	0	295M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-65.17%	-15.36%	12.87%	15.08%	2.69%	-88.57%	31.78%	56.99%	23.09%	10.87%
Return on Invested Capital (ROIC)	0.82%	-11.74%	6.95%	10.57%	2.98%	-27.15%	10.13%	25.31%	14.7%	7.04%
Gross Margin	55.79%	47.09%	60.99%	57.59%	50.76%	44.59%	48.79%	55.21%	54.22%	54.45%
Net Margin	-116.8%	-32.35%	18.61%	18%	3.48%	-100.16%	16.35%	29.18%	19.16%	12.29%
Debt / Equity	1.14x	0.95x	0.88x	0.77x	0.83x	2.09x	1.14x	0.58x	0.64x	0.61x
Interest Coverage	0.38x	-4.74x	2.94x	4.83x	1.57x	-14.55x	4.47x	12.39x	8.07x	3.83x
FCF Conversion	-0.33x	-0.66x	1.27x	2.15x	12.48x	-0.31x	2.21x	1.06x	2.00x	3.31x
Revenue Growth	-44.86%	-34.01%	52.26%	33.67%	13.25%	-9.5%	42.24%	43.96%	-12.68%	-15.91%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Natural Gas	-	-	-	-	1.88B	1.06B
Natural Gas Growth	-	-	-	-	-	-43.70%
Natural Gas Gathering And Processing	-	6M	10M	5M	7M	8M
Natural Gas Gathering And Processing Growth	-	-	66.67%	-50.00%	40.00%	14.29%
Natural Gas Liquids	-	-	-	-	1.73B	-
Natural Gas Liquids Growth	-	-	-	-	-	-
Oil	3.64B	2.67B	5.64B	7.96B	-	-
Oil Growth	-	-26.64%	111.54%	40.95%	-	-
Natural Gas Reserves	2.03B	1.86B	2.75B	3.87B	-	-
Natural Gas Reserves Growth	-	-8.13%	47.18%	41.06%	-	-
Natural Gas Liquids Reserves	1.34B	970M	2.07B	2.43B	-	-
Natural Gas Liquids Reserves Growth	-	-27.56%	113.30%	17.50%	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024
UNITED STATES	4.99B	4.4B	6.49B	9.56B	8.32B	5.61B
UNITED STATES Growth	-	-11.74%	47.59%	47.21%	-12.99%	-32.53%
CANADA	1.7B	1.69B	2.54B	3.48B	2.56B	1.75B
CANADA Growth	-	-1.00%	50.68%	36.74%	-26.21%	-31.93%
CHINA	37M	-	-	-	-	-
CHINA Growth	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Ovintiv Inc. (OVV) has a price-to-earnings (P/E) ratio of 9.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Ovintiv Inc. (OVV) reported $8.90B in revenue for fiscal year 2024. This represents a 5% increase from $8.47B in 2011.

Ovintiv Inc. (OVV) saw revenue decline by 15.9% over the past year.

Yes, Ovintiv Inc. (OVV) is profitable, generating $236.0M in net income for fiscal year 2024 (12.3% net margin).

Dividend & Returns

Yes, Ovintiv Inc. (OVV) pays a dividend with a yield of 2.96%. This makes it attractive for income-focused investors.

Ovintiv Inc. (OVV) has a return on equity (ROE) of 10.9%. This is reasonable for most industries.

Ovintiv Inc. (OVV) generated $1.49B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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