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OMV USD

At a glance: strengths & risks
✓Revenue growing (+42% y/y, Q2 2026)✓Profit growing (+115% y/y, Q2 2026)✓Low leverage (0.3x EBITDA)✗Pricier than own history (EV/EBITDA 4.1 vs avg 2.3)

Sector: Integrated oil & gas

COMM_OMV

Price chart

70.5 EURDay -1.26%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
70.75 EUR · -0.91%
Market cap
26.1 bn USD

Growth

Δ revenue y/y
41.7%
Δ EBITDA y/y
49.1%

Multiples

P/E (LTM)
16.8x
3y avg: 11.3x
P/B (FY)
1.4x
P/E (ann.)
10.4x
EV/EBITDA (LTM)
4.1x
3y avg: 2.3x
EV/EBITDA (ann.)
4.0x

Cash return

Dividend yield
6.3%
FCF yield (LTM)
-21.0%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-35.4%
↓ details

Liquidity

Daily turnover (listing)
4.2 mln EUR

Shares: connector/market_inputs

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK9.3
y/y 41.7%
1.4
y/y 76.8%
0.6
y/y 7.6%
1.9
y/y 49.1%
0.6
y/y 115.0%
1.5-0.949.0
y/y -9.2%
20.4
y/y 5.4%
12.3%4.5Yahoo Finance
2026-03-31Q1 2026 (3M)OK6.8
y/y 3.8%
1.1
y/y 9.6%
0.5
y/y -12.2%
1.6
y/y 1.1%
1.7
y/y 945.3%
0.9-3.449.5
y/y -6.8%
20.6
y/y 7.6%
35.1%3.9Yahoo Finance
2025-12-31Q4 2025 (3M)OK7.0
y/y —
0.2
y/y —
1.1
y/y —
1.3
y/y —
0.1
y/y —
2.0-0.954.4
y/y 7.4%
19.2
y/y 3.4%
6.3%2.1Yahoo Finance
2025-06-30Q2 2025 (3M)OK6.6
y/y —
0.8
y/y —
0.5
y/y —
1.3
y/y —
0.3
y/y —
1.2—53.9
y/y —
19.3
y/y —
6.1%1.3Yahoo Finance
2025-03-31Q1 2025 (3M)OK6.6
y/y —
1.0
y/y —
0.6
y/y —
1.6
y/y —
0.2
y/y —
1.4-1.153.1
y/y —
19.1
y/y —
3.5%0.9Yahoo Finance
2024-12-31FY 2024 (12M)OK28.2
y/y -33.9%
4.7
y/y -11.6%
3.3
y/y 17.1%
8.0
y/y -1.6%
1.6
y/y -6.7%
5.9-3.450.7
y/y -9.4%
18.6
y/y -7.9%
8.1%1.5Yahoo Finance
2023-12-31FY 2023 (12M)OK42.7
y/y —
5.3
y/y —
2.8
y/y —
8.1
y/y —
1.7
y/y —
6.2-3.356.0
y/y —
20.2
y/y —
—0.7Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)1 388
Long-term debt (incl. LT leases)6 509
− Cash & equivalents3 424
Net debt4 473

Net debt / LTM EBITDA: 0.6x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

010 00020 00030 00040 0002023 FY2024 FY2025 q12025 q22025 q42026 q12026 q2

Year-over-year change

-50%-25%0%25%50%2023 FY2024 FY2025 q12025 q22025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-4 000-2 00002 0002023 FY2024 FY2025 q12025 q22025 q42026 q12026 q2

Net debt / cash ($ mln)

01 0002 0003 0004 0002023 FY2024 FY2025 q12025 q22025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2022–2025 operating cash flow came to 3.72x of reported net profit.
year2022202320242025
cash flow / profit2.09x3.68x3.75x4.84x
accruals, % of assets-7.0%-8.0%-8.5%-8.6%
Last twelve months (to - Q2 2025): 3.98x of profit came back as operating cash flow.
net debt / EBITDA 0.3x
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Operating statistics

Production indicators — supplementary, not part of the financial statements

PeriodProduction
boe/d
Q2 2026-06291 000
−4.3%
H1 2026-06289 000
−5.9%
FY 2025-12305 000
−10.3%
Q2 2025-06304 000
H1 2025-06307 000
FY 2024-12340 000
−6.6%
FY 2023-12364 000
−7.1%
FY 2022-12392 000
−19.3%
FY 2021-12486 000

Company reports (PLR coverage review 2026-10-01), extracted with DeepSeek and every number checked against the document text: https://www.omv.com/downloads/2026/04/a4b668cf-7243-ffad-4a26-6f7f40b70374/OMV%20Combined%20Annual%20Report%202025.pdf; https://www.omv.com/downloads/2026/07/574eef26-54e8-3953-f2c4-187f040663bb/OMV_Q2_26_EN.pdf; https://www.omv.com/downloads/2026/07/7d6fec27-4bdb-139d-0a22-110696c203a9/OMV%20Q2%202026%20Analyst%20Conference%20Call.pdf

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Annual production
111.33 mln boe
2025

Production, mln boe

177.392021143.082022132.862023124.102024111.332025

Production

YearProduction, mln boeper day, mln boe
2025111.33
−10.3%		0.30
2024124.10
−6.6%		0.34
2023132.86
−7.1%		0.36
2022143.08
−19.3%		0.39
2021177.390.49

Company reports: https://www.omv.com/downloads/2026/04/a4b668cf-7243-ffad-4a26-6f7f40b70374/OMV%20Combined%20Annual%20Report%202025.pdf; https://www.omv.com/downloads/2026/07/574eef26-54e8-3953-f2c4-187f040663bb/OMV_Q2_26_EN.pdf; https://www.omv.com/downloads/2026/07/7d6fec27-4bdb-139d-0a22-110696c203a9/OMV%20Q2%202026%20Analyst%20Conference%20Call.pdf

Key-commodity price — Brent

Current 100spot vs LTM +30%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -35.4% ▲ +2.4 pp 1d

Main driver: Brent +30% vs LTM; revenue ×1.15 vs costs ×1.04; EBITDA 6 254→7 706; at 2.8× EV/EBITDA → -35%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Brent (rev)+12%99.6976.5180.81+30%+6%
Nat. gas in Europe (Dutch TTF) (rev)+8%871.69443.18476.91+97%+8%
US Crack Spread (oil refining) (rev)+3%65.1630.5930.87+113%+1%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue29 774
LTM EBITDA6 254
LTM cash costs (revenue − EBITDA)23 520
2 · Revenue projection
Revenue multiplier — spot×1.148 (+15%)
= Spot revenue34 169
Revenue multiplier — 3y price×1.013 (+1%)
= 3-year-price revenue30 165
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs24 461
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs24 461
4 · EBITDA projection (revenue − costs)
= Spot EBITDA9 708
= 3-year-price EBITDA5 704
Conservative EBITDA = min(spot, avg)7 706
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct, realized earnings)2.8x
Target EV = EV/EBITDA × conservative EBITDA21 269
Net debt4 473
Target market cap = EV − net debt17 157
Current market cap26 550

Upside = target market cap ÷ current − 1 = -35.4%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 FY42 69660 526-29.5%8 2657 175+15.2%
2024 FY28 23641 704-32.3%8 1555 892+38.4%
2025 FY27 43727 929-1.8%7 5487 045+7.1%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth -3% vs -34% the year before — a +31.0 pp move. 3-year CAGR -25%.
revenue growth by year: 2023 -35% · 2024 -34% · 2025 -3%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 4.0x · target 75th pct (3y) 2.8x · LTM avg 2.8x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: Integrated oil & gas. Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
YPFglobal19.64.1x
Shellglobal282.75.1x
Ecopetrolglobal33.95.3x
TotalEnergiesglobal192.25.5x
Eniglobal82.117.5x
Group median5.3x
Group average7.5x
This companyglobal26.24.1x

Group median 5.3x; this company 4.1x — a 24% discount.

Group average 7.5x; against the average this company is at a 46% discount. The average sits 41% above the median: Eni (17.5x) skews the group.

At the adjusted group median the market cap would be +33% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 22.4x, Russia 3.8x, South Africa 5.1x, Kazakhstan 6.6x, India 18.5x, Indonesia 4.8x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-01; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-084.4 EUREx-dividend: 4.4 EUR per sharePaidYahoo Finance (ex-div)
2025-06-044.75 EUREx-dividend: 4.75 EUR per sharePaidYahoo Finance (ex-div)
2024-06-055.05 EUREx-dividend: 5.05 EUR per sharePaidYahoo Finance (ex-div)
2023-06-065.05 EUREx-dividend: 5.05 EUR per sharePaidYahoo Finance (ex-div)
2022-06-102.3 EUREx-dividend: 2.3 EUR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of OMV — from primary filings.

Frequently asked questions

What is OMV's P/E ratio?
OMV trades at a P/E of 16.8x (price to trailing 12-month earnings).
What is OMV's EV/EBITDA?
OMV trades at 4.1x EV/EBITDA.
What is OMV's P/B ratio?
OMV trades at a P/B of 1.4x.
What is OMV's dividend yield?
OMV's trailing 12-month dividend yield is 6.3%.
What is OMV's return on equity (ROE)?
OMV's ROE is 12.3%.
What is OMV's market capitalization?
OMV's market cap is 26.1 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map