undamentalytics Newsletter
Sign in

Ovintiv Inc. (OVV) stock

Add to watchlist

Add holding +

NYSE: OVV NYSE Oil & Gas Exploration & Production Next results ~November 3, 2026

C+ Fundamentals grade

Ovintiv Inc. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

Under review: valuation models disagree too widely to rate.

Price vs value

Under review: valuation models disagree too widely to rate. We'll show the comparison once resolved.

Ovintiv Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 6 sales by directors and officers, last 12 monthsInsider trades
  • Funds315 adding, 275 cuttingOf 78 active managers that changed their stake, 36 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Ovintiv files

Where Ovintiv stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $9.76bn, up 6.0% on a year earlier, faster than -1.2% a quarter earlier. Free-cash-flow margin rose to 23.2% from 18.5% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 4 of our 7 financial-health checks. At that price, our model says the market is pricing in cash flow shrinking about 1.3% a year for five years, slower than the 2.4% a year revenue growth it has delivered.

Our model value for Ovintiv is under review, so past values are not shown until it is resolved.

Source: 10-Q filed July 23, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Ovintiv Inc.'s trailing-twelve-month revenue grew 6.0% year on year, with a free-cash-flow margin of 23.2%. Where it stands out: stock pay as % of revenue of 0.6% ranks 8 of 47 oil & gas exploration & production companies we cover.

Our discounted-cash-flow model values the business at ~$88 per share in the base case (~$63–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 33.3% while net income grew 54.6%: a 21pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 7.2 points higher than a quarter earlier.
  • Strong cash generation. 23.2% of revenue turned into free cash flow, against a median of 23.2% for oil & gas exploration & production companies we cover.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 16.7% over 90 days.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.

Latest results: FY2026 Q2

Filed July 23, 2026
Earnings per share
$1.74 against an average estimate of $1.94: missed by 10.5%
Revenue
$3.01bn, up 30.0% on a year earlier
Share reaction
+4.3% in the first session after the results on July 23, 2026, against -1.1% for the S&P 500
Guidance given
production volumes 630 to 645 (Full Year 2026); capital investment $2.25bn to $2.35bn (Full Year 2026)
Next report
November 3, 2026; average EPS estimate $2.00

Ovintiv's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-6.7%
  • 1 week-6.6%
  • 1 month+12.3%
  • This year+75.6%
  • 1 year+84.9%
  • 5 years+109.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$9.8B
Operating margin
9.7%
Net margin
9.4%
EPS (TTM, diluted)
$3.44

Growth

Revenue growth
+6.0%
Change in growth rate
+7.2 pts
Share count change
+1.8%

Cash

Free cash flow (TTM)
$2.3B
FCF margin
23.2%
Stock pay % of revenue
0.6%

Earnings

Last results
July 23, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Deal
  2. Announcement
  3. Announcement
  4. Announcement
  5. Results
  6. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Ovintiv Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

Our value per share comes from a discounted-cash-flow model of Ovintiv Inc.'s free cash flow after stock-based pay ( $2B, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Ovintiv Inc. as an oil and gas producer, with every model that fits that kind of business. Cost of equity 8%: the 10-year Treasury yield (4.9%) plus a beta of 0.68 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. ~$36 Primary model, counts double
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$88 ~$63–$120 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$63 ~$49–$100 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$270 ~$190–$400 Left out: far from the other models (more than 3x away from their median)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$190 ~$160–$230 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ovintiv Inc. with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 201720182019202020212022202320242025Now
Share price$53.64$23.40$19.28$12.55$29.92$45.86$40.85$38.71$38.59$67.78
Market value$10.4bn$4.5bn$5.0bn$3.3bn$8.0bn$11.9bn$10.8bn$10.4bn$10.0bn$18.1bn
+ Net debt (− = net cash)−$719m−$1.1bn$6.8bn$6.9bn$4.6bn$3.6bn$5.8bn$5.4bn$5.2bn$3.0bn
Enterprise value$9.7bn$3.4bn$11.8bn$10.1bn$12.6bn$15.4bn$16.5bn$15.8bn$15.2bn$21.1bn
Multiples
Price / sales 2.3x0.8x0.7x0.5x0.9x1.0x1.0x1.1x1.1x1.9x
Price / earnings 12.6x4.2x21.5x—5.6x3.3x5.2x9.2x8.1x19.7x
Price / free cash flow —13.8x17.1x20.5x5.0x5.8x7.6x7.3x6.7x8.0x
EV / EBITDA 5.1x1.2x4.5x—4.6x3.1x3.5x4.1x4.6x6.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

55 /100

Moderate moat

How hard Ovintiv's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 6 / 20

    Net income has been a median 4.8% of total assets over 7 years.

  • Durability 5 / 20

    Operating margin has been a median 17.9%; its worst year was -44.3%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 6 of 7 years, at a median 16.9% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 2.1% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $2.3bn and EPS of $2.00 (range $1.71 to $2.18) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $8.32 +72% $10.3bn +16%
Next $8.52 +2% $9.4bn −9%

Next year's EPS estimate has moved +16.7% in 90 days, across 22 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +15.3% on 90 days ago. In the last 30 days, 9 analysts raised Ovintiv Inc.'s forecast and 5 cut it.

Consensus EPS forecast Ovintiv Inc., last 90 days
$7.00 $7.50 $8.00 $8.50 $9.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.22 Current fiscal year, 60 days ago: $7.27 Current fiscal year, 30 days ago: $7.45 Current fiscal year, 7 days ago: $8.09 Current fiscal year, Now: $8.32 $8.32 Next fiscal year, 90 days ago: $7.30 Next fiscal year, 60 days ago: $7.34 Next fiscal year, 30 days ago: $7.41 Next fiscal year, 7 days ago: $8.11 Next fiscal year, Now: $8.52 $8.52

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.22$7.30
60 days ago $7.27$7.34
30 days ago $7.45$7.41
7 days ago $8.09$8.11
Now $8.32$8.52

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.94 $1.74 −10.5%
Mar 2026 $1.83 $2.00 +9.2%
Dec 2025 $1.01 $1.39 +37.0%
Sept 2025 $0.96 $1.03 +8.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 23, 2026
  • Production volumes Full Year 2026 630 to 645 Raised
    “Full year production volumes are expected to average 630 MBOE/d to 645 MBOE/d, driven by increases in oil and condensate and NGL volumes.” source
  • Capital investment Full Year 2026 $2.25bn to $2.35bn Maintained
    “Full year expected capital investment is unchanged at $2.25 billion to $2.35 billion.” source
  • Oil & Condensate (Mbbls/d) Full Year 2026 210 to 212 Raised
    “Oil & Condensate (Mbbls/d) 205 - 210 210 - 212” source
  • NGLs (C2 to C4) (Mbbls/d) Full Year 2026 83 to 85 Raised
    “NGLs (C2 to C4) (Mbbls/d) 75 - 80 83 - 85” source
  • Natural Gas (MMcf/d) Full Year 2026 2,025 to 2,075
    “Natural Gas (MMcf/d) 2,000 - 2,100 2,025 - 2,075” source
  • Full year capital investment · Permian Full year 2026 $1.325bn to $1.375bn
    “Full year 2026 capital investment is expected to total approximately $1.325 billion to $1.375 billion in the play to run approximately 5 rigs and bring on an expected 125 to 135 net wells.” source
Show 10 more items
  • Full year capital investment · Montney Full year 2026 $875m to $925m
    “Full year 2026 capital investment is expected to total approximately $875 million to $925 million in the play to run approximately 6 rigs and bring on an expected 130 to 140 net wells.” source
  • Total Production (MBOE/d) 3Q 2026 615 to 640 New
    “Total Production (MBOE/d) 615 - 640 630 - 645” source
  • Capital Investment ($ Millions) 3Q 2026 $550m to $600m New
    “Capital Investment ($ Millions) $550 - $600 $2,250 - $2,350” source
  • Oil & Condensate (Mbbls/d) 3Q 2026 205 to 210 New
    “Oil & Condensate (Mbbls/d) 205 - 210 210 - 212” source
  • NGLs (C2 to C4) (Mbbls/d) 3Q 2026 75 to 80 New
    “NGLs (C2 to C4) (Mbbls/d) 75 - 80 83 - 85” source
  • Natural Gas (MMcf/d) 3Q 2026 2,000 to 2,100 New
    “Natural Gas (MMcf/d) 2,000 - 2,100 2,025 - 2,075” source
  • Oil and condensate production (Mbbls/d) · Permian second half of the year about 125
    “For the second half of the year, oil and condensate production is expected to average approximately 125 Mbbls/d and natural gas production is expected to average 280 to 305 MMcf/d.” source
  • Natural gas production (MMcf/d) · Permian second half of the year 280 to 305
    “For the second half of the year, oil and condensate production is expected to average approximately 125 Mbbls/d and natural gas production is expected to average 280 to 305 MMcf/d.” source
  • Oil and condensate production (Mbbls/d) · Montney second half of the year 80 to 85
    “For the second half of the year, oil and condensate production is expected to average 80 to 85 Mbbls/d and natural gas production is expected to average 1.7 to 1.8 Bcf/d.” source
  • Natural gas production (Bcf/d) · Montney second half of the year 1.7 to 1.8
    “For the second half of the year, oil and condensate production is expected to average 80 to 85 Mbbls/d and natural gas production is expected to average 1.7 to 1.8 Bcf/d.” source

How earlier guidance turned out

  • Capital Investment ($ Millions), 2Q 2026 guided $550m to $600m Within range: $574m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Ovintiv Inc.'s revenue by +0.4% next year and -3.5% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+0.7%, weight 70%) and the company's own record (-0.1%, weight 30%) . How the weights are set.

Analyst recommendations

27 analysts, Oct 2026
Buy2178%
Hold622%
Sell00%

Monthly trend

  1. Oct 2026516627
  2. Sep 2026616527
  3. Aug 2026515424
  4. Jul 2026515424

Counts of recommendations published by analysts covering Ovintiv Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.1%
of tradable shares
Days to cover
4.02
at average volume
Short interest, 1 month
+12%
to October 15, 2026
Held by institutions
98%
of shares
Held by insiders
0.5%
of shares
Employees
1,465
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +84.9%

$36.67 on October 31, 2025 to $67.78

ThenNowEffect
Revenue (last 12 months) $9.2bn $9.8bn +6.0%
Net margin 6.5% 9.4% +45.9%
P/E multiple 16.2x 19.7x +21.7%
Share count 262m 267m −1.8%

Biggest factor: net margin.

Last 3 years +50.4%

$45.07 on November 3, 2023 to $67.78

ThenNowEffect
Revenue (last 12 months) $11.8bn $9.8bn −17.5%
Net margin 28.3% 9.4% −66.6%
P/E multiple 3.4x 19.7x +475.9%
Share count 254m 267m −5.1%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
OVV+138%+53%−11%−5%−0%+76%
Industry peers (median)+86%+55%−8%+2%−15%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
OVV75%67%42%42%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
OVV−31%−37%−37%−33%−32%−17%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 97% from August 2, 2018 to March 9, 2020. Getting back needed a 3040% gain, reached on March 24, 2026, 2206 days after the low.

Price behaviour

52-week range
$35.81 – $72.62
From 52-week high
−6.7%
vs 50-day average
+4.4%
vs 200-day average
+18.1%
Volatility (1 year)
36%
Beta vs S&P 500
-0.56

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±2.9%
After a week
8 up, 4 down
typical move ±6.2%
After a month
8 up, 4 down
typical move ±7.9%
Results releasedNext dayS&P 500 next day5 days21 days
July 23, 2026 +4.3% −1.1% +1.8% +10.4%
May 11, 2026 +0.4% +0.1% +3.8% +0.2%
February 23, 2026 −1.0% −0.3% +3.1% +17.2%
November 4, 2025 −2.4% −0.8% +5.0% +12.6%
July 24, 2025 +5.0% +0.5% +4.3% +3.7%
May 6, 2025 −1.6% −0.4% +14.3% +7.7%
February 26, 2025 +2.1% −1.5% −9.6% +3.2%
November 7, 2024 +2.9% +1.2% +6.6% −1.5%
July 30, 2024 +2.3% +1.1% −10.2% −4.9%
May 7, 2024 −2.9% +0.1% −5.0% −7.7%
February 27, 2024 +4.1% +0.1% +6.0% +12.4%
November 7, 2023 −5.2% +0.4% −5.3% −13.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Ovintiv Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ovintiv Inc.
$8B $9B $10B $11B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $10.9B Revenue (TTM), FY23 Q4: $10.9B Revenue (TTM), FY24 Q1: $10.7B Revenue (TTM), FY24 Q2: $10.5B Revenue (TTM), FY24 Q3: $10.1B Revenue (TTM), FY24 Q4: $9.2B Revenue (TTM), FY25 Q1: $9.2B Revenue (TTM), FY25 Q2: $9.2B Revenue (TTM), FY25 Q3: $8.9B Revenue (TTM), FY25 Q4: $8.9B Revenue (TTM), FY26 Q1: $9.1B Revenue (TTM), FY26 Q2: $9.8B $9.8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $10.9B
FY23 Q4 $10.9B
FY24 Q1 $10.7B
FY24 Q2 $10.5B
FY24 Q3 $10.1B
FY24 Q4 $9.2B
FY25 Q1 $9.2B
FY25 Q2 $9.2B
FY25 Q3 $8.9B
FY25 Q4 $8.9B
FY26 Q1 $9.1B
FY26 Q2 $9.8B
Revenue growth, TTM YoY Ovintiv Inc.
-20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -13.2% Revenue growth, TTM YoY, FY23 Q4: -12.7% Revenue growth, TTM YoY, FY24 Q1: -18.1% Revenue growth, TTM YoY, FY24 Q2: -11.6% Revenue growth, TTM YoY, FY24 Q3: -7.3% Revenue growth, TTM YoY, FY24 Q4: -15.9% Revenue growth, TTM YoY, FY25 Q1: -14.1% Revenue growth, TTM YoY, FY25 Q2: -11.9% Revenue growth, TTM YoY, FY25 Q3: -11.7% Revenue growth, TTM YoY, FY25 Q4: -2.7% Revenue growth, TTM YoY, FY26 Q1: -1.2% Revenue growth, TTM YoY, FY26 Q2: 6.0% 6.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -13.2%
FY23 Q4 -12.7%
FY24 Q1 -18.1%
FY24 Q2 -11.6%
FY24 Q3 -7.3%
FY24 Q4 -15.9%
FY25 Q1 -14.1%
FY25 Q2 -11.9%
FY25 Q3 -11.7%
FY25 Q4 -2.7%
FY26 Q1 -1.2%
FY26 Q2 6.0%
Operating margin (TTM) Ovintiv Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 26.0% Operating margin (TTM), FY23 Q4: 26.3% Operating margin (TTM), FY24 Q1: 25.1% Operating margin (TTM), FY24 Q2: 25.9% Operating margin (TTM), FY24 Q3: 27.3% Operating margin (TTM), FY24 Q4: 17.3% Operating margin (TTM), FY25 Q1: 10.9% Operating margin (TTM), FY25 Q2: 10.3% Operating margin (TTM), FY25 Q3: 7.8% Operating margin (TTM), FY25 Q4: 12.7% Operating margin (TTM), FY26 Q1: 5.1% Operating margin (TTM), FY26 Q2: 9.7% 9.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 26.0%
FY23 Q4 26.3%
FY24 Q1 25.1%
FY24 Q2 25.9%
FY24 Q3 27.3%
FY24 Q4 17.3%
FY25 Q1 10.9%
FY25 Q2 10.3%
FY25 Q3 7.8%
FY25 Q4 12.7%
FY26 Q1 5.1%
FY26 Q2 9.7%
FCF margin (TTM) Ovintiv Inc.
5% 10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 11.3% FCF margin (TTM), FY23 Q4: 13.1% FCF margin (TTM), FY24 Q1: 9.7% FCF margin (TTM), FY24 Q2: 11.9% FCF margin (TTM), FY24 Q3: 16.3% FCF margin (TTM), FY24 Q4: 15.5% FCF margin (TTM), FY25 Q1: 17.5% FCF margin (TTM), FY25 Q2: 18.5% FCF margin (TTM), FY25 Q3: 16.6% FCF margin (TTM), FY25 Q4: 16.9% FCF margin (TTM), FY26 Q1: 18.8% FCF margin (TTM), FY26 Q2: 23.2% 23.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 11.3%
FY23 Q4 13.1%
FY24 Q1 9.7%
FY24 Q2 11.9%
FY24 Q3 16.3%
FY24 Q4 15.5%
FY25 Q1 17.5%
FY25 Q2 18.5%
FY25 Q3 16.6%
FY25 Q4 16.9%
FY26 Q1 18.8%
FY26 Q2 23.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Ovintiv took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $8.9B
  2. Other income $111M · 1.2%
  3. Selling, general and admin $331M · 3.7%
  4. Other operating costs $7.4B · 83.6%
  5. Operating income $1.1B · 12.7%
  6. Net income $1.2B · 13.9%

Shares of revenue. Source: Ovintiv's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 4.4 5.9 6.7 6.1 8.7 12.5 10.9 9.2 8.9 9.8
EBITDA 1.9 3.0 2.6 −3.6 2.7 5.0 4.7 3.9 3.3 3.1
Operating income 1.1 1.7 0.6 −5.4 1.5 3.9 2.9 1.6 1.1 0.9
Net income 0.8 1.1 0.2 −6.1 1.4 3.6 2.1 1.1 1.2 0.9
Diluted EPS $4.25 $5.57 $0.90 −$23.47 $5.32 $14.08 $7.90 $4.21 $4.78 $3.44
Growth (year on year)
Revenue — +33.7% +13.3% −9.5% +42.2% +44.0% −12.7% −15.9% −2.7% +6.0%
EBITDA — +56.0% −11.9% −236.4% — +83.3% −5.6% −17.5% −14.4% −2.8%
Operating income — +58.6% −64.7% <−999% — +153.7% −25.7% −44.9% −28.4% −0.2%
Net income — +29.3% −78.1% <−999% — +156.9% −42.7% −46.0% +10.4% +54.6%
Diluted EPS — +31.1% −83.8% <−999% — +164.7% −43.9% −46.7% +13.5% +51.9%
Margins
EBITDA margin 42.8% 49.9% 38.8% −58.5% 31.3% 39.8% 43.1% 42.3% 37.2% 31.8%
Operating margin 24.0% 28.5% 8.9% −88.7% 17.5% 30.9% 26.3% 17.3% 12.7% 9.7%
Net margin 18.6% 18.0% 3.5% −100.2% 16.4% 29.2% 19.2% 12.3% 13.9% 9.4%
Free-cash-flow margin −16.8% 5.5% 4.4% 2.6% 18.6% 16.3% 13.1% 15.5% 16.9% 23.2%
Cash flow
Cash from operations 1.1 2.3 2.9 1.9 3.1 3.9 4.2 3.7 3.7 4.5
Capital spending 1.8 2.0 2.6 1.7 1.5 1.8 2.7 2.3 2.1 2.2
Free cash flow −0.7 0.3 0.3 0.2 1.6 2.0 1.4 1.4 1.5 2.3
Stock-based pay 0.1 −0.0 0.0 0.0 0.1 0.2 0.0 0.1 0.1 0.1
Free cash flow after stock pay −0.9 0.4 0.3 0.1 1.5 1.8 1.4 1.4 1.4 2.2
Balance sheet
Cash 0.7 1.1 0.2 0.0 0.2 0.0 0.0 0.0 0.0 0.7
Total debt 0.0 — 7.0 6.9 4.8 3.6 5.8 5.5 5.2 3.7
Net debt (negative = net cash) −0.7 −1.1 6.8 6.9 4.6 3.6 5.8 5.4 5.2 3.0
Diluted shares 195m 192m 261m 260m 266m 258m 264m 267m 260m 267m
Returned to shareholders
Dividends 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 0.3
Buybacks 0.0 0.3 1.3 0.0 0.1 0.7 0.4 0.6 0.3 0.6
Total returned 0.1 0.3 1.4 0.1 0.2 1.0 0.7 0.9 0.6 0.9

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · June 30, 2026
What it owns · $19.3bn
Short-term assets $2.2bnLonger-term assets $17.0bn
What it owes, and who funded it · $19.3bn
Short-term liabilities $2.2bnLonger-term liabilities $5.5bnShareholders' equity $11.5bn
  • Short-term assets cover short-term liabilities $2.2bn of assets due within a year against $2.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.2bn short-term assets against $5.5bn of longer-dated liabilities.
  • More cash than debt $700m of cash against $3.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 32% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 94% to 32% over five years.
  • A year's operating cash flow covers at least 20% of debt $4.5bn of operating cash flow against $3.7bn of debt.
  • Operating profit covers interest at least five times over Operating income of $949m against $388m of interest.

From Ovintiv Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$589M
Dividends (TTM)
$322M
Returned to shareholders
40%
of free cash flow
Buybacks, last 3 fiscal years
$1.3B
Diluted share count
+1.8%
year over year
Total shareholder yield
4.9%
dividends 1.7% + buybacks 3.1% of market value
Dividend payout ratio
35%
of net income paid out

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated OVV EQT EXE AR CHRD PR Median
Revenue, last 12 months $9.8bn $9.3bn $13.9bn $6.5bn $6.3bn $5.7bn $1.4bn
Revenue growth, last 12 months 6.0% 18.6% 28.2% 28.7% 19.2% 12.8% 10.6%
Revenue growth, 3-year average −6.2% 49.1% 8.5% 5.2% 16.3% 31.0% 1.4%
Revenue growth, latest quarter 30.0% −9.6% 10.8% 28.7% 84.0% 55.1% 31.5%
Gross margin — 83.5% 25.1% — 71.3% — 75.2%
Operating margin 9.7% 41.8% 25.7% 27.6% 19.0% 35.8% 21.1%
Operating margin, 3-year average 15.3% 30.3% 15.1% 13.8% 18.8% 34.7% 16.5%
Net margin 9.4% 28.4% 19.8% 21.2% 13.4% 21.5% 10.1%
Cash from operations / revenue 45.6% 67.5% 40.5% 34.6% 40.9% 69.6% 42.4%
Free-cash-flow margin 23.2% 40.7% 18.6% 29.5% 16.6% 52.9% 19.3%
Free-cash-flow margin, 3-year average 17.8% 27.0% 12.7% 24.4% 19.2% 52.2% 19.1%
Stock pay / revenue 0.6% 0.9% 0.4% 0.8% 0.5% 1.2% 1.5%
Change in share count 1.8% 3.0% −8.5% −1.4% −3.6% 4.4% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth 6.0% 10.6% 34 of 57
Change in growth rate Growth +7.2pp +4.9pp 23 of 57
Operating margin Profitability 9.7% 19.9% 26 of 42
Net margin Profitability 9.4% 10.1% 31 of 57
Free-cash-flow margin Cash generation 23.2% 23.2% 26 of 51
Stock pay as % of revenue Cash generation 0.6% 1.2% 8 of 47
Long-term debt as % of assets Balance sheet 19.2% 17.6% 27 of 43
Change in share count Balance sheet 1.8% 0.4% 29 of 48

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Usa Operations $5.9B ▼ 17.3%
Usa Operations Excluding Intercompany Segment Transactions $5.9B ▼ 16.7%
Canadian Operations $2.9B ▲ 42.3%
Canadian Operations Excluding Intercompany Segment Transactions $2.8B ▲ 47.7%

These categories overlap or exclude eliminations, so shares aren't shown.

From Ovintiv Inc.'s 10-K filed February 23, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$13.5B
Institutions reporting
586
Shares held vs prior quarter
▲ 4.1%
Positions opened / closed
74 / 98

Top buyers and sellers, Q2 2026: 315 institutions bought and 275 sold ; the biggest buyer was Capital Research Global Investors (+14.1M shares) and the biggest seller Citadel Advisors LLC (−4.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.4B 27.0M 10.5% ▲ 1.1%
FMR LLC $1.4B 25.8M 10.0% ▲ 8.3%
Capital Research Global Investors $1B 19.4M 7.6% ▲ 262.7%
Vanguard Portfolio Management LLC $761M 14.5M 5.6% ▼ 4.3%
Vanguard Capital Management LLC $665M 12.6M 4.9% 0.0%
Dimensional Fund Advisors LP $548M 10.4M 4.1% ▼ 1.3%
State Street Corp $528M 10.0M 3.9% ▲ 0.6%
Price T Rowe Associates Inc $479M 9.1M 3.6% ▲ 26.3%
Hotchkis & Wiley Capital Management LLC $458M 8.7M 3.4% ▲ 2.3%
Invesco Ltd. $367M 7.0M 2.7% ▲ 0.4%
Geode Capital Management, LLC $285M 5.4M 2.1% ▲ 1.0%
Arrowstreet Capital, Limited Partnership $267M 5.1M 2.0% ▼ 35.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ovintiv Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $5.7M 6 trades by 5 insiders · 0% under pre-set plans
Net ▼ $5.7M net selling
Insider Date Trade Shares Price Value
Moore Rachel Maureen EVP, Corporate Services August 12, 2026 Sell 7,753 $63.32 $490,920
Eilers Meghan Nicole EVP, M&M & GC March 13, 2026 Sell 11,582 $54.78 $634,462
Mayson Howard John Director March 3, 2026 Sell 5,000 $52.39 $261,950
Givens Gregory Dean EVP & COO December 12, 2025 Sell 50,000 $40.33 $2M
Nance Steven W Director December 8, 2025 Sell 5,000 $41.99 $209,950
Givens Gregory Dean EVP & COO December 4, 2025 Sell 50,000 $42.50 $2.1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Ovintiv Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded June 24, 2025, filed August 13, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • July 23, 2026
  • May 11, 2026
  • February 23, 2026
  • November 4, 2025
  • July 24, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Ovintiv Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ovintiv Inc. in brief

What does Ovintiv Inc. do?
Ovintiv Inc. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Ovintiv Inc.'s stock ticker?
Ovintiv Inc. trades under the ticker OVV on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ovintiv Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ovintiv Inc. reported revenue of $9.8B, 6.0% higher than a year earlier, according to its SEC filings.
What is Ovintiv Inc.'s free cash flow?
Ovintiv Inc.'s free-cash-flow margin is 23.2% of revenue over the trailing twelve months, ranking 26 of the 51 oil & gas exploration & production companies we cover.
Who are Ovintiv Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Capital Research Global Investors. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Ovintiv Inc. buying back stock, and does it pay a dividend?
Ovintiv Inc. spent $589M on share repurchases over the trailing twelve months, and its diluted share count still rose 1.8% over the year.
What is Ovintiv Inc.'s market cap?
On November 2, 2026, Ovintiv Inc.'s market capitalisation was about $18.1B, with a price-to-earnings ratio of 19.7 and net debt of $3B. Market figures come from third-party market data and may be delayed.
Does Ovintiv Inc. pay a dividend?
Yes: Ovintiv Inc. paid $322M in dividends over the trailing twelve months, a dividend yield of 1.72% and a payout ratio of 35.0%.
How much debt does Ovintiv Inc. have?
Ovintiv Inc.'s debt-to-equity ratio is 32.1%, from its latest balance sheet (94.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Ovintiv Inc.'s competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Ovintiv Inc. are EQT Corporation, Expand Energy, Antero Resources Corp, Chord Energy Corp and Permian Resources Corp. The side-by-side comparison below sets their revenue, margins and growth against Ovintiv Inc.'s.
Are insiders buying or selling Ovintiv Inc. stock?
Over the last 12 months, Ovintiv Inc.'s directors and officers reported 0 open-market purchases and 6 sales on Form 4. The insider trading page charts every trade.
When is Ovintiv Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ovintiv Inc. announces its own schedule.