Financials Ovintiv Inc.

Equities

OVV

US69047Q1022

Oil & Gas Exploration and Production

Market Closed - Nyse Other stock markets 04:00:02 2024-05-17 pm EDT			5-day change	1st Jan Change
49.79 ^USD	+0.99%		-2.18%	+13.37%

May. 15	Ovintiv Insider Sold Shares Worth $600,000, According to a Recent SEC Filing	MT
May. 15	Ovintiv Maintained at Buy at UBS Following First-Quarter Results; Price Target Raised to US$70.00	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,093	3,732	8,799	12,589	11,933	13,195	-	-
Enterprise Value (EV) ¹	12,877	10,607	13,390	16,154	17,667	18,698	17,908	17,379
P/E ratio	26.1 x	-0.61 x	6.33 x	3.6 x	5.56 x	7.94 x	6.47 x	6.41 x
Yield	1.6%	2.61%	1.39%	1.87%	2.62%	2.41%	2.5%	2.6%
Capitalization / Revenue	0.91 x	0.61 x	1.02 x	1.01 x	1.1 x	1.28 x	1.22 x	1.28 x
EV / Revenue	1.91 x	1.74 x	1.55 x	1.3 x	1.62 x	1.82 x	1.65 x	1.69 x
EV / EBITDA	3.81 x	4.04 x	4.15 x	3.81 x	3.93 x	3.91 x	3.55 x	3.59 x
EV / FCF	42.2 x	55 x	7.92 x	7.09 x	15.3 x	10.3 x	10.5 x	11.7 x
FCF Yield	2.37%	1.82%	12.6%	14.1%	6.54%	9.74%	9.54%	8.57%
Price to Book	0.62 x	0.97 x	1.71 x	1.62 x	1.1 x	1.2 x	1.06 x	0.89 x
Nbr of stocks (in thousands)	259,822	259,861	261,084	248,262	271,698	267,653	-	-
Reference price ²	23.45	14.36	33.70	50.71	43.92	49.79	49.79	49.79
Announcement Date	2/20/20	2/17/21	2/24/22	2/27/23	2/27/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,726	6,087	8,658	12,464	10,883	10,277	10,830	10,269
EBITDA ¹	3,384	2,628	3,229	4,243	4,495	4,777	5,048	4,843
EBIT ¹	1,369	794	2,039	3,112	2,864	2,551	2,894	2,618
Operating Margin	20.35%	13.04%	23.55%	24.97%	26.32%	24.82%	26.72%	25.49%
Earnings before Tax (EBT) ¹	315	-5,730	1,239	3,560	2,510	2,191	2,450	2,443
Net income ¹	234	-6,100	1,416	3,637	2,085	1,629	1,897	1,913
Net margin	3.48%	-100.21%	16.35%	29.18%	19.16%	15.85%	17.51%	18.63%
EPS ²	0.9000	-23.47	5.320	14.08	7.900	6.274	7.690	7.768
Free Cash Flow ¹	305	193	1,690	2,279	1,155	1,820	1,708	1,490
FCF margin	4.53%	3.17%	19.52%	18.28%	10.61%	17.71%	15.77%	14.51%
FCF Conversion (EBITDA)	9.01%	7.34%	52.34%	53.71%	25.7%	38.11%	33.84%	30.76%
FCF Conversion (Net income)	130.34%	-	119.35%	62.66%	55.4%	111.75%	90.06%	77.87%
Dividend per Share ²	0.3750	0.3750	0.4675	0.9500	1.150	1.200	1.246	1.293
Announcement Date	2/20/20	2/17/21	2/24/22	2/27/23	2/27/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	3,339	1,967	3,736	3,549	3,212	2,551	2,517	2,649	3,166	2,352	2,530	2,554	2,616	2,577	2,515
EBITDA ¹	783	1,080	1,289	958	918	1,024	808	1,250	1,418	1,142	1,167	1,207	1,260	1,258	1,220
EBIT ¹	509	816	1,011	663	634	678	531	759	1,188	494	617.7	648.2	711.2	711.6	652.9
Operating Margin	15.24%	41.48%	27.06%	18.68%	19.74%	26.58%	21.1%	28.65%	37.52%	21%	24.42%	25.38%	27.18%	27.61%	25.97%
Earnings before Tax (EBT) ¹	1,382	-246	1,422	1,274	1,110	613	437	393	1,067	428	510.6	553.2	589.8	644.4	603
Net income ¹	1,384	-241	1,360	1,186	1,335	487	336	406	856	338	385.9	417.7	453.1	479.8	437.6
Net margin	41.45%	-12.25%	36.4%	33.42%	41.56%	19.09%	13.35%	15.33%	27.04%	14.37%	15.25%	16.35%	17.32%	18.62%	17.4%
EPS ²	5.210	-0.9400	5.210	4.630	5.240	1.970	1.340	1.470	3.170	1.240	1.448	1.565	1.723	1.772	1.607
Dividend per Share ²	0.1400	0.2000	0.2500	0.2500	0.2500	0.2500	0.3000	0.3000	0.3000	0.3000	0.3000	0.3000	0.3000	0.3300	0.3300
Announcement Date	2/24/22	5/9/22	8/3/22	11/8/22	2/27/23	5/9/23	7/27/23	11/7/23	2/27/24	5/7/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,784	6,875	4,591	3,565	5,734	5,502	4,713	4,184
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.005 x	2.616 x	1.422 x	0.8402 x	1.276 x	1.152 x	0.9337 x	0.8639 x
Free Cash Flow ¹	305	193	1,690	2,279	1,155	1,820	1,708	1,490
ROE (net income / shareholders' equity)	9.9%	1.32%	31.8%	27.7%	23.1%	18.1%	15.1%	14.2%
ROA (Net income/ Total Assets)	4.67%	-33.9%	9.15%	12.2%	11.9%	8.28%	7.6%	-
Assets ¹	5,011	17,978	15,475	29,926	17,521	19,680	24,961	-
Book Value Per Share ²	38.00	14.80	19.70	31.30	39.90	41.60	46.90	56.00
Cash Flow per Share ²	11.30	7.420	12.00	15.90	14.80	15.80	16.70	16.80
Capex ¹	2,626	1,736	1,519	1,831	2,744	2,316	2,409	2,501
Capex / Sales	39.04%	28.52%	17.54%	14.69%	25.21%	22.53%	22.25%	24.36%
Announcement Date	2/20/20	2/17/21	2/24/22	2/27/23	2/27/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Ovintiv Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

49.79 USD

Average target price

62.58 USD

Spread / Average Target

+25.69%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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