Financials Ovintiv Inc.

Equities

OVV

US69047Q1022

Oil & Gas Exploration and Production

Market Closed - Nyse Other stock markets 04:00:02 2026-01-13 pm EST			5-day change	1st Jan Change
39.52 ^USD	+1.44%		+4.74%	+0.84%

Jan. 12	NuVista Brief: Independent Proxy Advisory Firms Recommend NuVista Shareholders Vote "For" Proposed Ovintiv Transaction	MT
Jan. 12	Independent proxy advisory firms recommend Nuvista shareholders vote "for" proposed Ovintiv transaction	RE

Projected Income Statement: Ovintiv Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	6,087	8,658	12,464	10,883	9,152	8,555	8,452	9,262
Change	-	42.24%	43.96%	-12.68%	-15.91%	-6.52%	-1.21%	9.58%
EBITDA ¹	2,628	3,229	4,243	4,495	4,474	4,143	4,285	4,786
Change	-	22.87%	31.4%	5.94%	-0.47%	-7.4%	3.43%	11.69%
EBIT ¹	794	2,039	3,112	2,864	1,579	1,155	1,980	2,464
Change	-	156.8%	52.62%	-7.97%	-44.87%	-26.83%	71.4%	24.44%
Interest Paid ¹	-371	-340	-311	-355	-412	-372.6	-357.9	-291.8
Earnings before Tax (EBT) ¹	-5,730	1,239	3,560	2,510	1,351	729.5	1,678	2,282
Change	-	121.62%	187.33%	-29.49%	-46.18%	-46%	129.94%	36.03%
Net income ¹	-6,100	1,416	3,637	2,085	1,125	559.2	1,239	1,681
Change	-	123.21%	156.85%	-42.67%	-46.04%	-50.29%	121.64%	35.6%
Announcement Date	2/17/21	2/24/22	2/27/23	2/27/24	2/26/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	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	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	1,528	1,838	1,692	1,789	3,339	1,967	3,736	3,549	3,212	2,551	2,517	2,649	3,166	2,352	2,288	2,324	2,188	2,377	2,318	2,066	1,897	1,998	1,996	2,075	2,208	-	-	-
Change	-	20.29%	-7.94%	5.73%	86.64%	-41.09%	89.93%	-5.01%	-9.5%	-20.58%	-1.33%	5.24%	19.52%	-25.71%	-2.72%	1.57%	-5.85%	8.64%	-2.48%	-10.87%	-8.16%	5.3%	-0.12%	3.97%	6.4%	-	-	-
EBITDA ¹	643.3	780	771	895	783	1,080	1,289	958	918	1,024	808	1,250	1,418	1,142	1,155	1,100	1,077	1,151	1,021	986	980.1	1,048	1,001	1,041	1,124	1,189	1,187	1,200
Change	-	21.24%	-1.15%	16.08%	-12.51%	37.93%	19.35%	-25.68%	-4.18%	11.55%	-21.09%	54.7%	13.44%	-19.46%	1.14%	-4.76%	-2.09%	6.87%	-11.29%	-3.43%	-0.6%	6.94%	-4.48%	4.03%	7.96%	5.77%	-0.21%	1.09%
EBIT ¹	242.3	472	460	598	509	816	1,011	663	634	678	531	759	1,188	494	556	527	2	-89	511	273	406.6	527.7	461.3	506	630	637.3	628	634.9
Change	-	94.76%	-2.54%	30%	-14.88%	60.31%	23.9%	-34.42%	-4.37%	6.94%	-21.68%	42.94%	56.52%	-58.42%	12.55%	-5.22%	-99.62%	-4,550%	674.16%	-46.58%	48.94%	29.79%	-12.58%	9.69%	24.49%	1.16%	-1.45%	1.09%
Charge d'intérêts ¹	-92	-87	-99	-77	-77	-74	-91	-83	-63	-71	-80	-98	-106	-98	-105	-103	-106	-97	-95	-91	-88.7	-83.7	-88.08	-86.38	-84.42	-	-	-
Earnings before Tax (EBT) ¹	-642	133	-205	-71	1,382	-246	1,422	1,274	1,110	613	437	393	1,067	428	466	558	-101	-193	399	192	330.2	480	402	430.1	543.4	572.1	562.8	569.6
Change	-	120.72%	-254.14%	65.37%	2,046.48%	-117.8%	678.05%	-10.41%	-12.87%	-44.77%	-28.71%	-10.07%	171.5%	-59.89%	8.88%	19.74%	-118.1%	-91.09%	306.74%	-51.88%	72%	45.34%	-16.25%	7%	26.34%	5.27%	-1.62%	1.22%
Net income ¹	-614	309	-205	-72	1,384	-241	1,360	1,186	1,335	487	336	406	856	338	340	507	-60	-159	307	148	262.1	321.2	258	288.8	388.4	443.3	436.2	441.5
Change	-	150.33%	-166.34%	64.88%	2,022.22%	-117.41%	664.32%	-12.79%	12.56%	-63.52%	-31.01%	20.83%	110.84%	-60.51%	0.59%	49.12%	-111.83%	-165%	293.08%	-51.79%	77.11%	22.56%	-19.7%	11.96%	34.47%	14.16%	-1.62%	1.22%
Announcement Date	2/17/21	4/27/21	7/27/21	11/2/21	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	7/30/24	11/7/24	2/26/25	5/6/25	7/24/25	11/4/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Ovintiv Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	6,875	4,591	3,565	5,734	5,411	5,523	4,676	4,142
Change	-	-33.22%	-22.35%	60.84%	-5.63%	2.07%	-15.34%	-11.42%
Announcement Date	2/17/21	2/24/22	2/27/23	2/27/24	2/26/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Ovintiv Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,736	1,519	1,831	2,744	2,303	2,145	2,360	2,398
Change	-	-12.5%	20.54%	49.86%	-16.07%	-6.85%	10.02%	1.62%
Free Cash Flow (FCF) ¹	193	1,690	2,279	1,155	1,739	1,594	1,733	1,848
Change	-	775.65%	34.85%	-49.32%	50.56%	-8.36%	8.72%	6.68%
Announcement Date	2/17/21	2/24/22	2/27/23	2/27/24	2/26/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Ovintiv Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	43.17%	37.29%	34.04%	41.3%	48.89%	48.43%	50.7%	51.68%
EBIT Margin (%)	13.04%	23.55%	24.97%	26.32%	17.25%	13.5%	23.43%	26.61%
EBT Margin (%)	-94.14%	14.31%	28.56%	23.06%	14.76%	8.53%	19.85%	24.64%
Net margin (%)	-100.21%	16.35%	29.18%	19.16%	12.29%	6.54%	14.66%	18.15%
FCF margin (%)	3.17%	19.52%	18.28%	10.61%	19%	18.63%	20.5%	19.96%
FCF / Net Income (%)	-3.16%	119.35%	62.66%	55.4%	154.58%	285%	139.8%	109.98%
Profitability
ROA	-33.93%	9.15%	12.15%	11.9%	5.73%	5.72%	5.61%	6.27%
ROE	1.32%	31.78%	27.72%	23.09%	10.87%	11.67%	11.16%	13.67%
Financial Health
Leverage (Debt/EBITDA)	2.62x	1.42x	0.84x	1.28x	1.21x	1.33x	1.09x	0.87x
Debt / Free cash flow	35.62x	2.72x	1.56x	4.96x	3.11x	3.47x	2.7x	2.24x
Capital Intensity
CAPEX / Current Assets (%)	28.52%	17.54%	14.69%	25.21%	25.16%	25.08%	27.92%	25.89%
CAPEX / EBITDA (%)	66.06%	47.04%	43.15%	61.05%	51.48%	51.78%	55.08%	50.11%
CAPEX / FCF (%)	899.48%	89.88%	80.34%	237.58%	132.43%	134.6%	136.21%	129.75%
Items per share
Cash flow per share ¹	7.422	12.05	15.91	14.77	15.12	14.15	14.39	16.51
Change	-	62.3%	32.04%	-7.11%	2.34%	-6.38%	1.66%	14.74%
Dividend per Share ¹	0.375	0.4675	0.95	1.15	1.2	1.199	1.21	1.232
Change	-	24.67%	103.21%	21.05%	4.35%	-0.06%	0.91%	1.85%
Book Value Per Share ¹	14.77	19.67	31.29	39.9	39.67	40.41	42.77	46.19
Change	-	33.16%	59.12%	27.5%	-0.57%	1.85%	5.84%	8.01%
EPS ¹	-23.47	5.32	14.08	7.9	4.21	2.226	4.603	6.434
Change	-	122.67%	164.66%	-43.89%	-46.71%	-47.12%	106.77%	39.77%
Nbr of stocks (in thousands)	259,861	261,084	248,262	271,698	260,324	253,259	253,259	253,259
Announcement Date	2/17/21	2/24/22	2/27/23	2/27/24	2/26/25	-	-	-