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Ovintiv

OVV
54
Oil & Gas Exploration & Production · Energy
Also trades as: OVV.TO
Exchange
New York Stock Exchange
Winston Score
54
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Mixed
Cash Flow
Good
Stability
Good
Valuation
Strong
Dividends
Weak
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Winston Score History

The full picture

Ovintiv is an oil and natural gas company that drills for and produces energy from underground rock formations. It sells crude oil, natural gas, and natural gas liquids to refiners, utilities, and energy traders across North America. The company is one of the larger independent oil and gas producers in North America, with major operations in the Permian Basin in Texas, the Anadarko Basin in Oklahoma, and the Montney formation in Canada.

Ovintiv makes money by selling the oil and gas it pulls out of the ground, so its revenue rises and falls with commodity prices. It operates primarily in the United States and Canada, generating several billion dollars in annual revenue. The company's main competitive advantage is its large inventory of low-cost drilling locations in proven shale basins, which helps keep production costs manageable. The biggest risk Ovintiv faces is a sustained drop in oil or natural gas prices, which would quickly squeeze profits and limit its ability to invest in new wells.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+30.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+37.0% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

0.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~4 months

$700M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Ovintiv grew revenue 30% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
93.9%
Premium pricing power — 93.9% gross margin
Profit after running costs
Operating Margin
33.0%
Excellent — 33.0% operating margin
Return on the money invested
ROCE
5.6%
Weak — 5.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+4.7%
Slow sales growth (+4.7% YoY)
Profit growth
EPS YoY
+54.8%
Earnings growing fast (+54.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
304%
Turns 304% of profit into real cash
Spare cash per sale
FCF Margin
-6.4%
Burning cash (-6.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.43
Conservative — low debt load (0.43)
Covers its interest
Interest Cover
3.23x
Tight — interest eats into profit (3.2x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
18.9x
no trend
Fair value — P/E 18.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+11.5
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (18.9 → 7.4)

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Dividends

Dividend
Dividend Yield
1.85%
no trend
Small dividend — 1.85% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+0.0%
no trend
Dividend flat

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