Ovintiv (OVV) Operating Margin (2018 - 2026)
Ovintiv (OVV) reported Operating Margin of 33.70% for Q3 2026, up 20.49 percentage points from 13.21% a year earlier and up 0.71 percentage points from the prior quarter.
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Analysis
Ovintiv (OVV) Operating Margin (2018 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Ovintiv's Operating Margin came in at 15.02%, up 7.23 percentage points year-over-year; for FY2025, it was 12.70%, down 4.56 percentage points from FY2024.
- Operating Margin has declined for three consecutive years, though with a five-year change of +101.36 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 17.25% in FY2024 (-9.06 pp), 26.32% in FY2023 (-0.70 pp), 27.01% in FY2022 (+12.50 pp) and 14.51% in FY2021 (+103.18 pp).
- The Q3 2026 figure ranks as the highest quarterly Operating Margin since Q4 2023.
- Year over year, Operating Margin gained in three of the last eight quarters, with an average year-over-year change of -6.15 percentage points.
- The high point for year-over-year Operating Margin in five years was Q4 2021 (a gain of 86.40 percentage points); the low point was Q4 2024 (a drop of 39.17 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 32.99% (Q2 2026), -29.26% (Q1 2026) and 20.31% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 682.73 Bn | 640.87 Bn | - | - |
| 2 | Chevron | 412.78 Bn | 379.83 Bn | 31.26 Bn | 20.54% |
| 3 | Shell | 290.86 Bn | 151.13 Bn | - | - |
| 4 | TotalEnergies SE | 192.45 Bn | 63.53 Bn | 31,614.00 | -7,653,464.41% |
| 5 | Eni Spa | 168.57 Bn | 108.20 Bn | - | 7.15% |
| 6 | Conocophillips | 163.59 Bn | 136.29 Bn | 12.81 Bn | 53.17% |
| 7 | Equinor Asa | 106.61 Bn | 19.46 Bn | 4.49 Bn | 36.02% |
| 8 | Canadian Natural Resources | 100.53 Bn | 94.43 Bn | 9.35 Bn | 78.41% |
| 9 | Phillips 66 | 100.43 Bn | 84.22 Bn | 10.69 Bn | 14.27% |
| 10 | Ovintiv | 16.51 Bn | 15.33 Bn | 2.40 Bn | 33.70% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 33.70% |
| 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 | 39.26% |
| 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% |
API Access
Ovintiv Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=OVV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "OVV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=OVV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();