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Ovintiv Inc Financials

OVV
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Ovintiv Inc (OVV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI OVV FY2025

Ovintiv’s cash generation has held up better than operating profit, showing a capital-disciplined, asset-heavy business under margin pressure.

From FY2023 to FY2025, operating margin fell from 26.3% to 12.7%, but free-cash-flow margin remained in the mid-teens. The reason is more about spending shape than earnings shape: capital expenditures eased from $2.7B to $2.1B, helping cash generation hold up even as operating profitability compressed.

Liquidity is run lean: cash was only $35M in FY2025 and the current ratio was 0.5x, so near-term obligations are managed through ongoing inflows rather than a cash stockpile. The offset is deleveraging; long-term debt fell from $5.5B in FY2023 to $4.4B in FY2025.

Unlike FY2024, FY2025 net income rose despite lower operating income because a $472M tax benefit sat below the operating line. That makes reported profitability look better than the year’s underlying operating line alone would suggest, so the bottom-line improvement does not fully describe the core earnings trend.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 43 / 100
Financial Health Score 43/100
Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Ovintiv Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
61
Growth
16
Leverage
39
Liquidity
6
Cash Flow
76
Returns
60
Altman Z-Score Distress
1.72

Ovintiv Inc scores 1.72, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($15.5B) relative to total liabilities ($9.2B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
6/8

Ovintiv Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
2.94x

For every $1 of reported earnings, Ovintiv Inc generates $2.94 in operating cash flow ($3.7B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
3.0x

Ovintiv Inc earns $3.0 in operating income for every $1 of interest expense ($1.1B vs $376.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$8.9B
YoY-2.7%
5Y CAGR+7.9%

Ovintiv Inc generated $8.9B in revenue in fiscal year 2025. This represents a decrease of 2.7% from the prior year.

EBITDA
$3.3B
YoY-14.4%

Ovintiv Inc's EBITDA was $3.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 14.4% from the prior year.

Net Income
$1.2B
YoY+10.4%

Ovintiv Inc reported $1.2B in net income in fiscal year 2025. This represents an increase of 10.4% from the prior year.

EPS (Diluted)
$4.78
YoY+13.5%

Ovintiv Inc earned $4.78 per diluted share (EPS) in fiscal year 2025. This represents an increase of 13.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$1.5B
YoY+6.1%
5Y CAGR+56.8%

Ovintiv Inc generated $1.5B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 6.1% from the prior year.

Cash & Debt
$35.0M
YoY-16.7%
5Y CAGR+28.5%

Ovintiv Inc held $35.0M in cash against $4.4B in long-term debt as of fiscal year 2025.

Dividends Per Share
$1.20
YoY+0.0%
5Y CAGR+26.2%

Ovintiv Inc paid $1.20 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding
283M
YoY+8.8%
5Y CAGR+1.7%

Ovintiv Inc had 283M shares outstanding in fiscal year 2025. This represents an increase of 8.8% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
12.7%
YoY-4.5pp
5Y CAGR+101.4pp

Ovintiv Inc's operating margin was 12.7% in fiscal year 2025, reflecting core business profitability. This is down 4.5 percentage points from the prior year.

Net Margin
13.9%
YoY+1.7pp
5Y CAGR+114.1pp

Ovintiv Inc's net profit margin was 13.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.7 percentage points from the prior year.

Return on Equity
11.1%
YoY+0.2pp
5Y CAGR+170.0pp

Ovintiv Inc's ROE was 11.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$307.0M
YoY-48.6%

Ovintiv Inc spent $307.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 48.6% from the prior year.

Capital Expenditures
$2.1B
YoY-6.8%
5Y CAGR+4.3%

Ovintiv Inc invested $2.1B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 6.8% from the prior year.

OVV Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $2.5B+17.9% $2.1B+3.9% $2.1B-10.9% $2.3B-2.5% $2.4B+8.6% $2.2B-5.9% $2.3B+1.6% $2.3B
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $112.0M+33.3% $84.0M+7.7% $78.0M+2.6% $76.0M-18.3% $93.0M-19.1% $115.0M+59.7% $72.0M-5.3% $76.0M
Operating Income -$754.0M-272.9% $436.0M+59.7% $273.0M-46.6% $511.0M+674.2% -$89.0M-4550.0% $2.0M-99.6% $527.0M-5.2% $556.0M
Interest Expense $104.0M+11.8% $93.0M+2.2% $91.0M-4.2% $95.0M-2.1% $97.0M-8.5% $106.0M+2.9% $103.0M-1.9% $105.0M
Income Tax -$197.0M+65.7% -$574.0M-1404.5% $44.0M-52.2% $92.0M+370.6% -$34.0M+17.1% -$41.0M-180.4% $51.0M-59.5% $126.0M
Net Income -$630.0M-166.6% $946.0M+539.2% $148.0M-51.8% $307.0M+293.1% -$159.0M-165.0% -$60.0M-111.8% $507.0M+49.1% $340.0M
EPS (Diluted) $-2.35 N/A $0.57-51.7% $1.18+293.4% $-0.61 N/A $1.92+51.2% $1.27

OVV Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $22.3B+9.3% $20.4B+5.2% $19.4B-1.8% $19.7B+0.6% $19.6B+1.9% $19.3B-3.0% $19.9B+0.3% $19.8B
Current Assets $1.8B+19.1% $1.5B+29.7% $1.2B-5.6% $1.2B-7.9% $1.4B-1.4% $1.4B-9.2% $1.5B+7.6% $1.4B
Cash & Equivalents $26.0M-25.7% $35.0M+40.0% $25.0M+25.0% $20.0M+150.0% $8.0M-81.0% $42.0M+366.7% $9.0M+12.5% $8.0M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $2.8B+10.4% $2.6B+0.4% $2.6B-0.5% $2.6B+1.3% $2.5B0.0% $2.5B-1.5% $2.6B+0.3% $2.6B
Total Liabilities $10.7B+16.8% $9.2B+0.4% $9.2B-2.2% $9.4B-1.9% $9.5B+6.8% $8.9B-3.1% $9.2B-2.9% $9.5B
Current Liabilities $3.2B+15.0% $2.8B+6.0% $2.6B-8.2% $2.9B-9.2% $3.2B+18.0% $2.7B-7.3% $2.9B-9.6% $3.2B
Long-Term Debt $5.5B+25.7% $4.4B0.0% $4.4B0.0% $4.4B0.0% $4.4B-9.5% $4.9B0.0% $4.9B0.0% $4.9B
Total Equity $11.6B+3.2% $11.2B+9.4% $10.2B-1.4% $10.4B+2.9% $10.1B-2.4% $10.3B-3.0% $10.7B+3.2% $10.3B
Retained Earnings $1.7B-29.3% $2.4B+55.4% $1.6B+4.7% $1.5B+18.1% $1.3B-15.7% $1.5B-8.4% $1.6B+35.3% $1.2B

OVV Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $1.1B+10.7% $954.0M+17.5% $812.0M-19.8% $1.0B+16.0% $873.0M-14.4% $1.0B-0.2% $1.0B+0.2% $1.0B
Capital Expenditures $605.0M+30.1% $465.0M-14.5% $544.0M+4.4% $521.0M-15.6% $617.0M+11.8% $552.0M+2.6% $538.0M-13.5% $622.0M
Free Cash Flow $451.0M-7.8% $489.0M+82.5% $268.0M-45.5% $492.0M+92.2% $256.0M-45.3% $468.0M-3.3% $484.0M+21.6% $398.0M
Investing Cash Flow -$1.7B-77.7% -$978.0M-115.9% -$453.0M+18.8% -$558.0M+37.7% -$895.0M-66.0% -$539.0M-4.5% -$516.0M+19.5% -$641.0M
Financing Cash Flow $672.0M+1668.4% $38.0M+110.6% -$358.0M+16.7% -$430.0M-3483.3% -$12.0M+97.6% -$504.0M-11.3% -$453.0M-20.5% -$376.0M
Dividends Paid $85.0M+11.8% $76.0M-1.3% $77.0M0.0% $77.0M-1.3% $78.0M0.0% $78.0M0.0% $78.0M-2.5% $80.0M
Share Buybacks $84.0M $0-100.0% $160.0M+8.8% $147.0M $0 $0-100.0% $163.0M-11.4% $184.0M

OVV Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin -29.8%-50.1pp 20.3%+7.1pp 13.2%-8.8pp 22.0%+25.8pp -3.7%-3.8pp 0.1%-22.6pp 22.7%-1.6pp 24.3%
Net Margin -24.9%-68.9pp 44.1%+36.9pp 7.2%-6.1pp 13.2%+19.9pp -6.7%-4.0pp -2.7%-24.6pp 21.8%+7.0pp 14.9%
Return on Equity -5.5%-13.9pp 8.5%+7.0pp 1.5%-1.5pp 3.0%+4.5pp -1.6%-1.0pp -0.6%-5.3pp 4.8%+1.5pp 3.3%
Return on Assets -2.8%-7.5pp 4.6%+3.9pp 0.8%-0.8pp 1.6%+2.4pp -0.8%-0.5pp -0.3%-2.9pp 2.5%+0.8pp 1.7%
Current Ratio 0.56+0.0 0.54+0.1 0.45+0.0 0.430.0 0.43-0.1 0.51-0.0 0.52+0.1 0.44
Debt-to-Equity 0.48+0.1 0.39-0.0 0.430.0 0.42-0.0 0.44-0.0 0.47+0.0 0.46-0.0 0.47
FCF Margin 17.8%-5.0pp 22.8%+9.8pp 13.0%-8.3pp 21.2%+10.5pp 10.8%-10.6pp 21.4%+0.6pp 20.8%+3.4pp 17.4%

Note: The current ratio is below 1.0 (0.54), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Ovintiv Inc (OVV) reported $8.9B in total revenue for fiscal year 2025. This represents a -2.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Ovintiv Inc (OVV) revenue declined by 2.7% year-over-year, from $9.2B to $8.9B in fiscal year 2025.

Yes, Ovintiv Inc (OVV) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 13.9%.

Ovintiv Inc (OVV) reported diluted earnings per share of $4.78 for fiscal year 2025. This represents a 13.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ovintiv Inc (OVV) had EBITDA of $3.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Ovintiv Inc (OVV) had $35.0M in cash and equivalents against $4.4B in long-term debt.

Ovintiv Inc (OVV) had an operating margin of 12.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Ovintiv Inc (OVV) had a net profit margin of 13.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Ovintiv Inc (OVV) paid $1.20 per share in dividends during fiscal year 2025.

Ovintiv Inc (OVV) has a return on equity of 11.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Ovintiv Inc (OVV) generated $1.5B in free cash flow during fiscal year 2025. This represents a 6.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Ovintiv Inc (OVV) generated $3.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Ovintiv Inc (OVV) had $20.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Ovintiv Inc (OVV) invested $2.1B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Ovintiv Inc (OVV) spent $307.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Ovintiv Inc (OVV) had 283M shares outstanding as of fiscal year 2025.

Ovintiv Inc (OVV) had a current ratio of 0.54 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Ovintiv Inc (OVV) had a debt-to-equity ratio of 0.39 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Ovintiv Inc (OVV) had a return on assets of 6.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Ovintiv Inc (OVV) has an Altman Z-Score of 1.72, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Ovintiv Inc (OVV) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Ovintiv Inc (OVV) has an earnings quality ratio of 2.94x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Ovintiv Inc (OVV) has an interest coverage ratio of 3.0x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Ovintiv Inc (OVV) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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