Cash flow Ovintiv Inc.

Equities

OVV

US69047Q1022

Oil & Gas Exploration and Production

Market Closed - Nyse Other stock markets 04:00:02 2024-09-18 pm EDT			5-day change	1st Jan Change
39.95 ^USD	+0.05%		+3.18%	-9.04%

Sep. 18	UBS Cuts Price Target on Ovintiv to $57 From $61, Maintains Buy Rating	MT
Sep. 17	RBC Cuts Price Target on Ovintiv to $54 From $61, Keeps Sector Perform Rating	MT

58e92049232.6l7c6x_U1khlm7c7qRLY9u6NZgOS8UWNqRYGa6lLI5o.q2uYhUeMvysM7fRq2yWxk97ULFLBlXzD4Ww-Xp8-V6-_HZe-bqC1einu3A

Published financial data: OVINTIV INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	7.01B	5.51B	10.47B	14.26B	10.66B
Other Revenues, Total	-	-	-	-	-
Total Revenues	7.01B	5.51B	10.47B	14.26B	10.66B
Cost of Goods Sold, Total	3.48B	3.54B	5.4B	6.98B	5.7B
Gross Profit	3.54B	1.97B	5.07B	7.28B	4.96B
Selling General & Admin Expenses, Total	394M	342M	433M	422M	328M
Depreciation & Amortization - (IS)	2.02B	1.83B	1.19B	1.11B	1.82B
Other Operating Expenses	398M	-478M	1.9B	1.88B	-132M
Other Operating Expenses, Total	2.81B	1.7B	3.53B	3.42B	2.02B
Operating Income	729M	273M	1.54B	3.86B	2.94B
Interest Expense, Total	-382M	-371M	-340M	-311M	-355M
Interest And Investment Income	-	5M	14M	-	11M
Net Interest Expenses	-382M	-366M	-326M	-311M	-344M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	119M	-17M	23M	-15M	-19M
Other Non Operating Income (Expenses)	17M	20M	17M	28M	5M
EBT, Excl. Unusual Items	483M	-90M	1.25B	3.56B	2.59B
Restructuring Charges	-	-90M	-14M	-	-
Merger & Related Restructuring Charges	-171M	-	-	-	-76M
Gain (Loss) On Sale Of Assets	3M	-	-	-	-
Asset Writedown	-	-5.58B	-	-	-
Other Unusual Items	-	30M	-	-	-
EBT, Incl. Unusual Items	315M	-5.73B	1.24B	3.56B	2.51B
Income Tax Expense	81M	367M	-177M	-77M	425M
Earnings From Continuing Operations	234M	-6.1B	1.42B	3.64B	2.08B
Net Income to Company	234M	-6.1B	1.42B	3.64B	2.08B
Minority Interest	-	-	-	-	-
Net Income - (IS)	234M	-6.1B	1.42B	3.64B	2.08B
Net Income to Common Incl Extra Items	234M	-6.1B	1.42B	3.64B	2.08B
Net Income to Common Excl. Extra Items	234M	-6.1B	1.42B	3.64B	2.08B
Per Share Items
Net EPS - Basic	0.9	-23.47	5.44	14.34	8.02
Basic EPS - Continuing Operations	0.9	-23.47	5.44	14.34	8.02
Basic Weighted Average Shares Outstanding	261M	260M	260M	254M	260M
Net EPS - Diluted	0.9	-23.47	5.32	14.08	7.9
Diluted EPS - Continuing Operations	0.9	-23.47	5.32	14.08	7.9
Diluted Weighted Average Shares Outstanding	261M	260M	266M	258M	264M
Normalized Basic EPS	1.16	-0.22	3.01	8.77	6.22
Normalized Diluted EPS	1.16	-0.22	2.94	8.61	6.12
Dividend Per Share	0.38	0.38	0.47	0.95	1.15
Payout Ratio	43.59	-1.59	8.62	6.57	14.72
Supplemental Items
EBITDA	2.78B	2.14B	2.75B	4.99B	4.79B
EBITA	766M	302M	1.56B	3.88B	2.96B
EBIT	729M	273M	1.54B	3.86B	2.94B
EBITDAR	2.93B	2.29B	2.88B	5.1B	4.95B
Total Revenues (As Reported)	6.73B	6.09B	8.66B	12.46B	10.88B
Effective Tax Rate - (Ratio)	25.71	-6.4	-14.29	-2.16	16.93
Current Domestic Taxes	3M	-12M	-	10M	12M
Current Foreign Taxes	-16M	-2M	-156M	-	269M
Total Current Taxes	-13M	-14M	-156M	10M	281M
Deferred Domestic Taxes	147M	-187M	1M	-275M	248M
Deferred Foreign Taxes	-53M	568M	-22M	188M	-104M
Total Deferred Taxes	94M	381M	-21M	-87M	144M
Normalized Net Income	302M	-56.25M	783M	2.22B	1.62B
Interest on Long-Term Debt	382M	371M	340M	311M	355M
Non-Cash Pension Expense	1M	2M	-	-	2M
Supplemental Operating Expense Items
General and Administrative Expenses	235M	191M	308M	321M	216M
Net Rental Expense, Total	152M	151M	131M	106M	161M
Imputed Operating Lease Interest Expense	72.97M	55.15M	51.69M	51.36M	81.82M
Imputed Operating Lease Depreciation	79.03M	95.85M	79.31M	54.64M	79.18M
Stock-Based Comp., COGS (Total)	16M	10M	31M	38M	25M
Stock-Based Comp., G&A Exp. (Total)	23M	23M	107M	164M	22M
Total Stock-Based Compensation	39M	33M	138M	202M	47M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	190M	10M	195M	5M	3M
Short Term Investments	41M	38M	67M	70M	59M
Total Cash And Short Term Investments	231M	48M	262M	75M	62M
Accounts Receivable, Total	1.15B	867M	1.2B	1.49B	1.33B
Other Receivables	296M	272M	97M	43M	17M
Total Receivables	1.44B	1.14B	1.3B	1.53B	1.34B
Prepaid Expenses	48M	23M	28M	38M	55M
Other Current Assets, Total	148M	37M	1M	53M	214M
Total Current Assets	1.87B	1.25B	1.59B	1.7B	1.68B
Gross Property Plant And Equipment	56.88B	58.75B	59.25B	59.98B	67.37B
Accumulated Depreciation	-40.64B	-48.31B	-49.56B	-49.64B	-51.84B
Net Property Plant And Equipment	16.24B	10.44B	9.69B	10.34B	15.53B
Long-term Investments	28M	30M	27M	21M	26M
Goodwill	2.61B	2.62B	2.63B	2.58B	2.6B
Deferred Tax Assets Long-Term	601M	-	-	271M	53M
Deferred Charges Long-Term	6M	8M	42M	44M	44M
Other Long-Term Assets, Total	134M	118M	81M	103M	55M
Total Assets	21.49B	14.47B	14.06B	15.06B	19.99B
Liabilities
Accounts Payable, Total	355M	306M	328M	436M	586M
Accrued Expenses, Total	1.26B	1.02B	1.41B	1.45B	1.27B
Current Portion of Long-Term Debt	-	518M	-	393M	284M
Current Portion of Leases	167M	150M	68M	82M	94M
Current Income Taxes Payable	1M	3M	4M	4M	232M
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	654M	422M	942M	418M	342M
Total Current Liabilities	2.43B	2.42B	2.75B	2.78B	2.81B
Long-Term Debt	6.97B	6.37B	4.79B	3.18B	5.45B
Long-Term Leases	1.1B	977M	922M	841M	852M
Pension & Other Post Retirement Benefits	119M	129M	104M	73M	74M
Deferred Tax Liability Non Current	217M	20M	4M	184M	110M
Other Non Current Liabilities	717M	716M	417M	312M	316M
Total Liabilities	11.56B	10.63B	8.98B	7.37B	9.62B
Common Stock, Total	7.06B	3M	3M	3M	3M
Additional Paid In Capital	1.4B	8.53B	8.46B	7.78B	8.62B
Retained Earnings	421M	-5.77B	-4.48B	-1.08B	697M
Comprehensive Income and Other	1.05B	1.08B	1.09B	991M	1.05B
Total Common Equity	9.93B	3.84B	5.07B	7.69B	10.37B
Total Equity	9.93B	3.84B	5.07B	7.69B	10.37B
Total Liabilities And Equity	21.49B	14.47B	14.06B	15.06B	19.99B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	260M	260M	257M	244M	270M
ECS Total Common Shares Outstanding	260M	260M	258M	246M	272M
Book Value / Share	38.22	14.77	19.67	31.29	38.17
Tangible Book Value	7.32B	1.21B	2.45B	5.1B	7.77B
Tangible Book Value Per Share	28.17	4.66	9.48	20.78	28.6
Total Debt	8.24B	8.01B	5.78B	4.49B	6.68B
Net Debt	8.01B	7.96B	5.51B	4.42B	6.62B
Debt Equivalent of Unfunded Proj. Benefit Obligation	9M	18M	15M	16M	15M
Debt Equivalent Oper. Leases	1.22B	1.21B	1.05B	848M	1.29B
Account Code - Inventory Valuation	3	3	3	-	-
Full Time Employees	2.57K	1.92K	1.71K	-	1.74K
Accumulated Allowance for Doubtful Accounts (Supple)	3M	4M	5M	4M	5M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	234M	-6.1B	1.42B	3.64B	2.08B
Depreciation & Amortization - CF	2.02B	1.83B	1.19B	1.11B	1.82B
Amortization of Goodwill and Intangible Assets - (CF)	37M	29M	22M	18M	19M
Depreciation & Amortization, Total	2.05B	1.86B	1.21B	1.13B	1.84B
(Gain) Loss From Sale Of Asset	-3M	-	-	-	-
Asset Writedown & Restructuring Costs	-	5.58B	-	-	-
Other Operating Activities, Total	648M	583M	581M	-658M	-30M
Change In Accounts Receivable	109M	146M	-333M	-304M	352M
Change In Accounts Payable	-44M	-26M	275M	50M	-304M
Change In Income Taxes	-27M	30M	24M	53M	271M
Change in Other Net Operating Assets	-48M	-184M	-46M	-43M	-51M
Cash from Operations	2.92B	1.9B	3.13B	3.87B	4.17B
Capital Expenditure	-2.69B	-1.76B	-1.53B	-1.83B	-2.74B
Sale of Property, Plant, and Equipment	197M	89M	1.02B	-	-
Cash Acquisitions	94M	-	-	-286M	-3.5B
Divestitures	-	-	-	228M	772M
Investment in Marketable and Equity Securities, Total	-156M	-198M	-20M	103M	-45M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-2.56B	-1.86B	-525M	-1.79B	-5.52B
Long-Term Debt Issued, Total	698M	252M	-	393M	2.28B
Total Debt Issued	698M	252M	-	393M	2.28B
Long-Term Debt Repaid, Total	-584M	-361M	-2.19B	-1.7B	-186M
Total Debt Repaid	-584M	-361M	-2.19B	-1.7B	-186M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-1.25B	-	-111M	-719M	-426M
Common Dividends Paid	-102M	-97M	-122M	-239M	-307M
Common & Preferred Stock Dividends Paid	-102M	-97M	-122M	-239M	-307M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-1.24B	-206M	-2.42B	-2.27B	1.36B
Foreign Exchange Rate Adjustments	5M	-5M	-	-2M	-9M
Net Change in Cash	-868M	-180M	185M	-190M	-2M
Supplemental Items
Cash Interest Paid	415M	385M	370M	376M	-
Cash Income Tax Paid (Refund)	-22M	-52M	-176M	-38M	-
Levered Free Cash Flow	386M	8.75M	1.37B	1.05B	900M
Unlevered Free Cash Flow	625M	241M	1.58B	1.24B	1.12B
Change In Net Working Capital	-769M	71M	-799M	670M	-135M
Net Debt Issued / Repaid	114M	-109M	-2.19B	-1.31B	2.09B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.47	0.95	6.74	16.57	10.5
Return on Total Capital	3.03	1.14	8.48	20.94	12.59
Return On Equity %	2.69	-88.57	31.78	56.99	23.09
Return on Common Equity	2.69	-88.57	31.78	56.99	23.09
Margin Analysis
Gross Profit Margin %	50.42	35.78	48.4	51.03	46.57
SG&A Margin	5.62	6.21	4.14	2.96	3.08
EBITDA Margin %	39.65	38.77	26.28	34.98	44.91
EBITA Margin %	10.92	5.48	14.91	27.18	27.79
EBIT Margin %	10.39	4.96	14.7	27.05	27.61
Income From Continuing Operations Margin %	3.34	-110.67	13.53	25.5	19.56
Net Income Margin %	3.34	-110.67	13.53	25.5	19.56
Net Avail. For Common Margin %	3.34	-110.67	13.53	25.5	19.56
Normalized Net Income Margin	4.3	-1.02	7.48	15.6	15.16
Levered Free Cash Flow Margin	5.5	0.16	13.07	7.35	8.44
Unlevered Free Cash Flow Margin	8.91	4.37	15.1	8.72	10.52
Asset Turnover
Asset Turnover	0.38	0.31	0.73	0.98	0.61
Fixed Assets Turnover	0.56	0.41	1.04	1.42	0.82
Receivables Turnover (Average Receivables)	7.48	5.47	10.13	10.62	7.58
Short Term Liquidity
Current Ratio	0.77	0.51	0.58	0.61	0.6
Quick Ratio	0.69	0.49	0.57	0.58	0.5
Operating Cash Flow to Current Liabilities	1.2	0.78	1.14	1.39	1.48
Days Sales Outstanding (Average Receivables)	48.82	66.87	36.02	34.36	48.17
Average Days Payable Outstanding	30.86	34.19	21.42	19.96	32.74
Long Term Solvency
Total Debt/Equity	82.97	208.81	113.84	58.43	64.45
Total Debt / Total Capital	45.35	67.62	53.24	36.88	39.19
LT Debt/Equity	81.29	191.4	112.5	52.26	60.8
Long-Term Debt / Total Capital	44.43	61.98	52.61	32.98	36.97
Total Liabilities / Total Assets	53.79	73.48	63.9	48.93	48.12
EBIT / Interest Expense	1.91	0.74	4.53	12.41	8.29
EBITDA / Interest Expense	7.68	6.16	8.48	16.38	13.94
(EBITDA - Capex) / Interest Expense	0.63	1.43	3.98