OVVNYSECrude Petroleum & Natural GasFiscal year ends December 31
Ovintiv Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026
$70.04+0.71 (+1.02%)
Close on Oct 19, 2026
- Market cap
- $19.74B
- P/E (TTM)
- 19.8
- Dividend yield
- 1.71%
Margins
Share of revenue, fiscal years 2016 to 2025
Operating margin
12.7%+101.4 pts over 5 years
Net margin
13.9%+114.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.7% | -10.6% | +7.9% | – | |
| Operating income | -28.4% | -33.5% | – | – | |
| Net income | +10.4% | -30.1% | – | – | |
| EPS, diluted | +13.5% | -30.2% | – | – | |
| Free cash flow | +6.1% | -9.6% | +56.8% | – | |
| Dividend per share | 0.0% | +8.1% | +26.2% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -88.6% | 11.5% | |
| Return on assets | – | -33.9% | 6.3% | |
| Current ratio | – | 0.51 | 0.54 | |
| Debt to equity | – | 1.79 | 0.46 | |
| Net debt to EBITDA | – | -1.93× | 1.56× | |
| Interest coverage | – | -14.5× | 3.0× | |
| Capex to revenue | – | 28.5% | 24.1% | |
| Diluted shares | – | 260M | 260M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ovintiv generated $18.54B from operations and spent $14.00B on capital expenditure, dividends and share buybacks. 75% of that went back into the business.
Generated
$18.54B
Used
$14.00B
Capital expenditure$10.54B75%Dividends$1.29B9%Share buybacks$2.16B15%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin13.9%
×Asset turnover0.45×
×Equity multiplier1.84×
=Return on equity, FY202511.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.9% | 0.45× | 1.84× | 11.5% |
| FY2024 | 12.3% | 0.47× | 1.90× | 10.9% |
| FY2023 | 19.2% | 0.62× | 1.94× | 23.1% |
| FY2022 | 29.2% | 0.86× | 2.28× | 57.0% |
| FY2021 | 16.4% | 0.61× | 3.20× | 31.8% |
| FY2020 | -100.2% | 0.34× | 2.61× | -88.6% |
| FY2019 | 3.5% | 0.37× | 2.12× | 2.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.24B
- Cash generatingOperating cash flow above zero$3.65B
- Return on assets improvedROA up on the prior year5.6% → 6.5%
- Earnings backed by cashOperating cash flow above net income$3.65B vs $1.24B
- Less leverageLong-term debt to assets fell25.2% → 21.5%
- Better liquidityCurrent ratio rose0.51 → 0.54
- No dilutionShare count did not rise267M → 260M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.46 → 0.46