Frontierby eninvs

Language: EN · RU

← Region

Ovintiv Inc. (OVV) USD

At a glance: strengths & risks
✓Profit growing (+10%)✓Commodity price +9% vs 1-yr · +5% vs 3-yr✗Margins compressing (42%→37%)✗Priced above model value

Sector: United States / Canada — oil & gas exploration & production

Geography: United States, Canada

US_EP_OVV

Price chart

59.15 USDDay -1.55%

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
59.15 USD · -1.55%
Market cap
16.4 bn USD

Growth

Δ revenue y/y
23.9%
Δ EBITDA y/y
41.8%

Multiples

P/E (LTM)
17.8x
3y avg: 8.2x
P/B (FY)
1.5x
P/E (ann.)
9.0x
EV/EBITDA (LTM)
4.9x
3y avg: 4.6x
EV/EBITDA (ann.)
3.8x

Cash return

Dividend yield
2.0%
FCF yield (LTM)
3.8%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-79.7%
↓ details

Liquidity

Daily turnover (listing)
175.3 mln USD

Shares: sec_companyfacts/1792580

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)OK2.9
y/y 23.9%
1.0
y/y 94.5%
0.5
y/y -6.7%
1.5
y/y 41.8%
0.5
y/y 48.5%
1.6-0.619.3
y/y -2.3%
11.5
y/y 10.8%
15.8%≈ 6.4Link
2026-03-31Q1 2026 (3M)OK2.5
y/y 6.5%
0.8
y/y —
0.6
y/y 2.9%
1.3
y/y 187.7%
-0.6
y/y —
1.1-0.622.3
y/y 13.7%
11.6
y/y 14.7%
-22.2%6.4Link
2025-12-31Q4 2025 (3M)OK2.1
y/y -1.9%
0.4
y/y 21700.0%
0.5
y/y -2.2%
1.0
y/y 77.1%
0.9
y/y 1676.7%
1.0-0.520.4
y/y 5.9%
11.2
y/y 8.4%
11.6%6.1Link
2025-09-30Q3 2025 (3M)OK2.1
y/y -11.1%
0.3
y/y -48.2%
0.5
y/y -9.0%
0.8
y/y -27.4%
0.1
y/y -70.8%
0.8-0.519.4
y/y -2.4%
10.2
y/y -4.0%
1.9%6.4Link
2025-06-30Q2 2025 (3M)OK2.3
y/y 1.3%
0.5
y/y -8.1%
0.6
y/y -4.1%
1.1
y/y -6.1%
0.3
y/y -9.7%
1.0-0.519.7
y/y -0.4%
10.4
y/y 0.5%
12.0%6.6Link
2025-03-31Q1 2025 (3M)OK2.4
y/y 1.1%
-0.1
y/y -118.0%
0.5
y/y -3.7%
0.5
y/y -57.0%
-0.2
y/y -147.0%
0.9-0.619.6
y/y -1.1%
10.1
y/y -1.8%
-6.2%6.7Link
2024-12-31Q4 2024 (3M)OK2.2
y/y -30.9%
0.0
y/y -99.8%
0.5
y/y —
0.5
y/y -74.1%
-0.1
y/y -107.0%
1.0-0.619.3
y/y -3.7%
10.3
y/y -0.4%
10.7%6.2Link
2024-09-30Q3 2024 (3M)OK2.3
y/y -12.3%
0.5
y/y 12.8%
0.6
y/y 23.3%
1.1
y/y 18.2%
0.5
y/y 24.9%
1.0-0.519.9
y/y -0.2%
10.7
y/y 11.5%
6.4%6.8Link
2024-06-30Q2 2024 (3M)OK2.3
y/y -9.1%
0.6
y/y 4.7%
0.6
y/y 38.4%
1.1
y/y 19.6%
0.3
y/y 1.2%
1.0-0.619.8
y/y 1.5%
10.3
y/y 10.9%
13.2%7.0Link
2024-03-31Q1 2024 (3M)OK2.4
y/y -7.8%
0.5
y/y -27.1%
0.6
y/y —
1.1
y/y 56.3%
0.3
y/y -30.6%
0.7-0.619.8
y/y 31.2%
10.3
y/y 30.0%
13.1%7.1Link
2023-12-31Q4 2023 (3M)OK3.2
y/y —
1.2
y/y —
—
y/y —
2.1
y/y —
0.9
y/y —
1.4-0.720.0
y/y —
10.4
y/y —
20.9%6.7Link
2023-09-30Q3 2023 (3M)OK2.6
y/y —
0.5
y/y —
0.5
y/y —
1.0
y/y —
0.4
y/y —
0.9-0.819.9
y/y —
9.6
y/y —
5.7%7.1Link
2023-06-30Q2 2023 (3M)OK2.5
y/y —
0.5
y/y —
0.4
y/y —
0.9
y/y —
0.3
y/y —
0.8-3.919.5
y/y —
9.3
y/y —
15.6%7.0Link
2023-03-31Q1 2023 (3M)PARTIAL2.6
y/y —
0.7
y/y —
—
y/y —
0.7
y/y —
0.5
y/y —
1.1-0.615.1
y/y —
7.9
y/y —
—4.6Link

Net debt structure (leases included, IFRS 16) 2026-03-31

Short-term debt (incl. ST leases)877
Long-term debt (incl. LT leases)5 521
− Cash & equivalents26
Net debt6 372

Net debt / LTM EBITDA: 1.4x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

01 0002 0003 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-100%0%100%200%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-1 00001 0002 0003 0004 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

02 0004 0006 0008 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Production & Reserves

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

Oil and Gas E and P

Proved reserves
2 325 mln boe
2025
Reserve life (R/P)
19.8 yrs
reserves ÷ annual output
Annual production
117.71 mln boe
2026

Production, mln boe

198.492020194.872021186.152022206.442023213.532024224.292025117.712026

Proved reserves

YearReserves, mln boe
20252 325
20242 057
20232 186
20222 274
20212 258
20201 992
20192 189

Production

YearProduction, mln boeper day
2026117.71
−47.5%		322 489
2025224.29
+5.0%		614 500
2024213.53
+3.4%		585 000
2023206.44
+10.9%		565 600
2022186.15
−4.5%		510 000
2021194.87
−1.8%		533 900
2020198.49543 800

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — WTI Crude Oil

Current 79spot vs LTM +9%

Commodity-player potential

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

Upside: -79.7% ▼ -6.3 pp 1d

Main driver: WTI Crude Oil +9% vs LTM; revenue ×0.99 vs costs ×1.03; EBITDA 2 752→2 457; at 4.7× EV/EBITDA → -80%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
WTI Crude Oil (rev)+55%78.7872.3176.29+9%+5%
Henry Hub Gas (rev)+30%2.673.373.11-21%-8%
Propane (Texas, USD/gallon) (rev)+15%0.730.690.77+5%+11%
Henry Hub Gas (cost)-5%2.673.373.11-21%-8%
US Diesel Index (EIA) (cost)-3%5.314.224.11+26%-3%

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

1 · Reported baseline (LTM)
LTM revenue9 617
LTM EBITDA2 752
LTM cash costs (revenue − EBITDA)6 865
2 · Revenue projection
Revenue multiplier — spot×0.994 (-1%)
= Spot revenue9 556
Revenue multiplier — 3y price×1.023 (+2%)
= 3-year-price revenue9 840
3 · Costs projection
Cost multiplier — spot×1.034 (+3%)
= Spot cash costs7 100
Cost multiplier — 3y price×1.032 (+3%)
= 3-year-price cash costs7 086
4 · EBITDA projection (revenue − costs)
= Spot EBITDA2 457
= 3-year-price EBITDA2 754
Conservative EBITDA = min(spot, avg)2 457
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)4.7x
Target EV = EV/EBITDA × conservative EBITDA11 620
Net debt7 041
Target market cap = EV − net debt4 579
Current market cap15 315

Upside = target market cap ÷ current − 1 = -79.7%

Life of mine: 10 yrs — before haircut -70.1%

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 Q32 6492 472+7.2%953793+20.2%
2023 Q43 1662 554+23.9%1 744897+94.4%
2024 Q12 3522 591-9.2%1 0601 026+3.3%
2024 Q22 2882 669-14.3%1 1361 149-1.1%
2024 Q32 3242 454-5.3%1 1261 042+8.1%
2024 Q42 1882 603-16.0%5471 296-57.8%
2025 Q12 3772 678-11.3%4561 290-64.6%
2025 Q22 3182 298+0.9%1 067769+38.7%
2025 Q32 0662 142-3.6%818604+35.3%
2025 Q42 1472 156-0.4%969589+64.6%
2026 Q12 5322 277+11.2%-193846-122.8%
2026 Q22 8722 731+5.2%1 1581 086+6.6%

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

Prod. CAGR (2 yr): +9.2%

614.5589.6564.8539.9515.0202320242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves CAGR (2 yr): -12.0% · Reserves life (R/P): 10.4 yr

31002906271325192325202320242025Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2025-12-31614.52,325.1——
2024-12-315383,100——
2023-12-315153,000——

2025-12-31 · FY

Production & proved reserves

FY2025 production from SEC SRT ProvedDevelopedAndUndevelopedReservesProduction (MMBbls annual crude-equivalent × 1000 / 365). Reserves: SRT ProvedDevelopedAndUndevelopedReservesNet (MMBbls).

Line itemAmount
Crude oil equivalent (net, Mboe/d)614.5
Proved reserves (net, MMboe)2,325.1

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 Form 10-K filing package: volumes from Exhibit 99.1 daily rates × 365 (Oil & Plant Condensate = 209.4 Mbbl/d; Other NGLs = 94.8 Mbbl/d; Gas = 1,862 MMcf/d). Realized prices include hedges per ovv-ex99_1.htm.

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil76.4 MMBbls64.48 USD/bbl4,928.367.4%
Natural gas679,630 MMcf2.54 USD/Mcf1,726.323.6%
NGLs34.6 MMBbls18.94 USD/bbl655.49.0%
Total (implied product revenue)7,309.9100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)7,176USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)1,732USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization2,179USD mln
General & administrative331USD mln
Interest expense376USD mln
Income tax expense (benefit)-472USD mln
Total costs and expenses (consolidated)7,777USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

FY2024 net production and proved reserves — Ovintiv Form 10-K (rounded).

Line itemAmount
Crude oil equivalent (net, Mboe/d)538
Proved reserves (net, MMboe)3,100

Sources

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)7,358USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)1,794USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization2,290USD mln
General & administrative365USD mln
Interest expense412USD mln
Income tax expense (benefit)226USD mln
Total costs and expenses (consolidated)7,573USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

FY2023 — Form 10-K 2023 (rounded).

Line itemAmount
Crude oil equivalent (net, Mboe/d)515
Proved reserves (net, MMboe)3,000

Sources

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)7,812USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)3,071USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization1,825USD mln
General & administrative393USD mln
Interest expense355USD mln
Income tax expense (benefit)425USD mln
Total costs and expenses (consolidated)8,019USD mln

Primary SEC filing for this FY (HTML)

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth -3% vs -16% the year before — a +13.2 pp move. 3-year CAGR —.
revenue growth by year: 2024 -16% · 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 5.2x · target 75th pct (3y) 4.7x · LTM avg 5.5x

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

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-150.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2026-03-130.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2025-12-150.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2025-09-150.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2025-06-130.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2025-03-140.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2024-12-130.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2024-09-130.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2024-06-140.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2024-03-140.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-12-140.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-09-140.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-06-140.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-03-140.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2022-12-140.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2022-09-140.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2022-06-140.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2022-03-140.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2021-12-140.14 USDEx-dividend: 0.14 USD per sharePaidYahoo Finance (ex-div)
2021-09-140.14 USDEx-dividend: 0.14 USD 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).

Investor reporting (IR): https://www.ovintiv.com/investors

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 Ovintiv Inc. (OVV) — from primary filings.

Large North American independent E&P—Montney, Uinta, Permian, and Anadarko assets.

Frequently asked questions

What is Ovintiv Inc. (OVV)'s P/E ratio?
Ovintiv Inc. (OVV) trades at a P/E of 17.8x (price to trailing 12-month earnings).
What is Ovintiv Inc. (OVV)'s EV/EBITDA?
Ovintiv Inc. (OVV) trades at 4.9x EV/EBITDA.
What is Ovintiv Inc. (OVV)'s P/B ratio?
Ovintiv Inc. (OVV) trades at a P/B of 1.5x.
What is Ovintiv Inc. (OVV)'s dividend yield?
Ovintiv Inc. (OVV)'s trailing 12-month dividend yield is 2.0%.
What is Ovintiv Inc. (OVV)'s return on equity (ROE)?
Ovintiv Inc. (OVV)'s ROE is 15.8%.
What is Ovintiv Inc. (OVV)'s market capitalization?
Ovintiv Inc. (OVV)'s market cap is 16.4 bn USD.