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NEW YORK STOCK EXCHANGE, INC. · Energy · CIK 0001792580
$69.30
-0.80% · live
Updated
$17.55B market value
From Ovintiv Inc.'s FY2025 10-K, filed Feb 23, 2026 · read the filing
Ovintiv drills for oil and natural gas. It took in $8.66B last year, which makes it a mid-sized company. Of every dollar it sells, about 14 cents is left as profit.
The financial picture is led by profitability and debt, while growth remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Generally healthy, with a few things to watch.
From Ovintiv Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Operating income
$1.58B → $1.13B
Operating margin
17.7% → 13.1%
Cash
$42.0M → $35.0M
Profit
$1.13B → $1.24B
Measured against FY2024, from the 10-K filed Feb 23, 2026
Deteriorated: -28.4%
$1.58B to $1.13BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
How the latest move compares (quote live), and what was published around it
OVV fell 0.80% on the latest quote. The average Energy company tracked here moved −1.01%, and the S&P 500 −1.04%. That is in line with its sector and in line with the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 2% a year for the next 10 years. Over the last 7 years it grew by about 24% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 14 cents of every dollar of sales as profit, earning $1.24B last year.
No. Sales shrank 3.1% last year.
No. At its current cash flow it could clear its debt in about 1.4 years. For every $1 it owes, it owns $2.22 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 25 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 8% of the cash its operations generated. It has paid in each of the last 9 years.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $1.24B and generated $3.65B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 23, 2026Filing for FY2025 | FY202410-K · Feb 26, 2025Filing for FY2024 | FY202310-K · Feb 27, 2024Filing for FY2023 | FY202210-K · Feb 27, 2023Filing for FY2022 | FY202110-K · Feb 25, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $8.66B | $8.94B | $10.66B | $14.26B | $10.47B | −3.1% |
| Selling, general and administrative | $331.0M | $365.0M | $393.0M | $422.0M | $442.0M | −9.3% |
| Operating income | $1.13B | $1.58B | $2.86B | $3.85B | $1.52B | −28.4% |
| Operating marginOperating income ÷ revenueWhat is this? | 13.1% | 17.7% | 26.9% | 27.0% | 14.5% | −4.6 pts |
| Interest expense | $376.0M | $412.0M | $355.0M | $311.0M | $340.0M | −8.7% |
| Income before tax | $770.0M | $1.35B | $2.51B | $3.56B | $1.24B | −43.0% |
| Net income | $1.24B | $1.13B | $2.08B | $3.64B | $1.42B | +10.4% |
| Net marginNet income ÷ revenueWhat is this? | 14.3% | 12.6% | 19.6% | 25.5% | 13.5% | +1.8 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $4.90 | $4.32 | $7.67 | $14.80 | $5.49 | +13.5% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 7,753 shares ($490.9K) on or after .
Shares originally obtained via LTI Grant Vesting in March 2026.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Made a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingWrite down why you are following Ovintiv Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from OVV's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 23, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 7.3 | 7/8 | 10-K, filed Feb 23, 2026 |
| FY2024 | 7.3 | 5/8 | 10-K, filed Feb 26, 2025 |
| FY2023 | 7.3 | 3/8 | 10-K, filed Feb 27, 2024 |
| FY2022 | 10.0 | 8/8 | 10-K, filed Feb 27, 2023 |
| FY2021 | 7.3 | 8/8 | 10-K, filed Feb 25, 2022 |
| FY2020 | 2.0 | 4/8 | 10-K, filed Feb 18, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
7 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
1.63
In the grey zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: −4.6 pts
17.7% to 13.1%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: -16.7%
$42.0M to $35.0MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +10.4%
$1.13B to $1.24BNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +1.8 pts
12.6% to 14.3%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +6.1%
$1.42B to $1.50BNotable
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: +13.5%
$4.32 to $4.90Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -9.5%
$4.85B to $4.39BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: -2.7%
260.4M to 253.3MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Changed: -6.8%
$2.30B to $2.15BNotable
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Jul 23, 2026 — read it.
Improved: +94.5%
$511.0M to $994.0MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +48.5%
$307.0M to $456.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +11.5 pts
23.1% to 34.6%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +115.0%
$492.0M to $1.06BCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: +3400.0%
$20.0M to $700.0MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +29.7%
$2.21B to $2.87BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +38.0%
$1.19 to $1.65Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -15.9%
$4.39B to $3.69BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Deteriorated: +7.6%
257.0M to 276.6MSignificant
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Improved: +2.0 pts
13.9% to 15.9%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Changed: +9.1%
$77.0M to $84.0MNotable
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Changed: +10.2%
$521.0M to $574.0MNotable
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Jul 23, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: turned positive
-$754.0M to $994.0MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: turned positive
-$630.0M to $456.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +63.9 pts
-29.3% to 34.6%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +40.3 pts
-24.4% to 15.9%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +134.6%
$451.0M to $1.06BCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: turned positive
-$2.23 to $1.65Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +2592.3%
$26.0M to $700.0MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -33.1%
$5.52B to $3.69BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +11.4%
$2.58B to $2.87BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: -2.2%
282.7M to 276.6MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Changed: -5.1%
$605.0M to $574.0MNotable
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
2 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between -0% and 4%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 4.2% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 62.5x — a high multiple relative to the current trailing profit.
This company has not reported enough of the required figures to calculate this score.
Quarterly report for Q2 FY2026
Revenue +29.7% · Operating margin +11.5 pts · Operating income +94.5% — against Q2 FY2025
Published results · Reported another event
Read the filingQuarterly report for Q1 FY2026
Revenue +8.5% · Operating margin −25.5 pts · Operating income $665.0M wider — against Q1 FY2025
Read the filingPublished results · Reported another event
Read the filingHeld a shareholder vote
Read the filingTerminated a material agreement · Completed an acquisition or disposal · Made a Regulation FD disclosure · Reported another event
Read the filingAttached financial statements or exhibits
Read the filingProxy statement for a shareholder meeting
Read the filingAnnual report for FY2025
Operating margin −4.6 pts · Operating income -28.4% · Cash -16.7% — against FY2024
Read the filingPublished results · Reported another event
Read the filingSigned a material agreement
Read the filingHad a director or senior officer leave or join
Read the filingMade a Regulation FD disclosure
Read the filingCompleted an acquisition or disposal · Sold shares outside a public offering · Made a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join
Read the filingMade a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingOvintiv Stock Rallies 13% in the Past 3 Months: Is It a Buy or Hold?
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Primary sources and further research