Ovintiv (OVV) Operating Margin (2018 - 2026)
Ovintiv (OVV) posted Operating Margin of 32.99% for Q2 2026, up 212.75% on a QoQ basis from 29.26% in Q1 2026, and up 1095.0% year-over-year from 2.76% in Q2 2025.
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Ovintiv (OVV) Operating Margin (2018 - 2026) Analysis & Trends
Ovintiv has reported Operating Margin for 9 years, with the latest figure at 32.99% in Q2 2026.
- On a quarterly basis, Operating Margin rose 1095.0% year-over-year to 32.99% in Q2 2026; TTM through Jun 2026 was 9.68%, a 65.0% decrease from a year earlier, with the FY2025 full-year figure at 12.7%, down 456.0% from the prior year.
- Operating Margin was 32.99% for Q2 2026 at Ovintiv, up from 29.26% in the prior quarter.
- The five-year high for Operating Margin was 108.0% in Q4 2023, with the low at 29.26% in Q1 2026.
- Average Operating Margin over 5 years is 22.25%, with a median of 21.57% recorded in 2023.
- The sharpest annual moves came in 2023 and 2024: Operating Margin soared 7161 bps in 2023, then sank 10791 bps in 2024.
- Over 5 years, Operating Margin stood at 36.39% in 2022, then surged by 197 bps to 108.0% in 2023, then tumbled by 100 bps to 0.09% in 2024, then soared by 22116 bps to 20.31% in 2025, then soared by 62 bps to 32.99% in 2026.
- The last three Operating Margin figures came in at 32.99% (Q2 2026), 29.26% (Q1 2026), and 20.31% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 165.59 Bn | 157.90 Bn | 12.81 Bn | 53.17% |
| 2 | Canadian Natural Resources | 107.09 Bn | 105.19 Bn | 8.84 Bn | 81.91% |
| 3 | Eog Resources | 77.05 Bn | 72.15 Bn | - | 40.93% |
| 4 | Diamondback Energy | 57.32 Bn | 56.86 Bn | 5.55 Bn | 45.16% |
| 5 | Devon Energy | 46.11 Bn | 45.10 Bn | 6.02 Bn | 32.14% |
| 6 | Expand Energy | 22.90 Bn | 21.64 Bn | 2.33 Bn | 22.33% |
| 7 | Permian Resources | 19.91 Bn | 19.65 Bn | - | 49.95% |
| 8 | Ovintiv | 17.99 Bn | 17.10 Bn | 2.83 Bn | 32.99% |
| 9 | Apa | 15.79 Bn | 15.34 Bn | 2.28 Bn | 48.15% |
| 10 | Antero Resources | 12.06 Bn | 11.49 Bn | 1.56 Bn | 24.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.99% |
| Mar 31, 2026 | -29.26% |
| Dec 31, 2025 | 20.31% |
| Sep 30, 2025 | 13.21% |
| Jun 30, 2025 | 22.04% |
| Mar 31, 2025 | -3.74% |
| Dec 31, 2024 | 0.09% |
| Sep 30, 2024 | 22.68% |
| Jun 30, 2024 | 24.30% |
| Mar 31, 2024 | 20.70% |
| Dec 31, 2023 | 108.00% |
| Sep 30, 2023 | 16.03% |
| Jun 30, 2023 | 21.10% |
| Mar 31, 2023 | 26.16% |
| Dec 31, 2022 | 36.39% |
| Sep 30, 2022 | 37.69% |
| Jun 30, 2022 | 37.77% |
| Mar 31, 2022 | -5.87% |
| Dec 31, 2021 | 47.72% |
| Jun 30, 2021 | -4.89% |