Usa Operations Excluding Intercompany Segment Transactions was the largest of Ovintiv Inc.’s 4 reported lines in fiscal 2025, at $4.74B — 62% of $7.65B.
| Segment | FY 2018 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Usa Operations Excluding Intercompany Segment Transactions | $4.76B | $3.27B | $1.77B | $4.74B | |
| Market Optimization | — | — | — | — | |
| Usa Operations | $3.65B | $2.59B | $1.45B | $1.31B | |
| Market Optimization Excluding Intercompany Segment Transactions | $2.12B | $2.49B | $1.88B | $1.42B | |
| Canadian Operations | $430.00M | $2.23B | $1.75B | $176.00M | |
| Total | $10.96B | $10.58B | $6.85B | $7.65B |
In fiscal 2025, which ended December 31, 2025, the 4 segments Ovintiv Inc. reported in this breakdown added up to $7.65B. That is less than the $8.35B in its breakdown by revenue line, so these segments do not account for all of its revenue that year. Usa Operations Excluding Intercompany Segment Transactions was the largest segment, at $4.74B or 62.0% of the total, followed by Market Optimization Excluding Intercompany Segment Transactions ($1.42B, 18.6%) and Usa Operations ($1.31B, 17.1%). Together, the two largest segments made up 80.6% of this total.
Compared with fiscal 2024, Usa Operations Excluding Intercompany Segment Transactions grew the fastest, rising 167.7% to $4.74B. Canadian Operations fell the most, down 89.9% to $176.00M.
The table also keeps 1 segment that Ovintiv Inc. no longer reports, so earlier years can still be read on their original basis; use "Show 1 discontinued" beneath the table to see them. This breakdown covers 5 fiscal years between 2018 and 2025, as reported in Ovintiv Inc.'s annual filings.
Oil was the largest of Ovintiv Inc.’s 4 reported lines in fiscal 2025, at $3.42B — 41% of $8.35B.
| Product and Service | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Oil | $4.54B | $4.45B | $4.56B | $3.42B |
| Natural Gas Liquids | $3.78B | $2.74B | $2.72B | $2.12B |
| Natural Gas | $3.23B | $2.84B | $1.06B | $2.77B |
| Natural Gas Gathering & Processing, And Other | — | $9.00M | $11.00M | $44.00M |
| Natural Gas Gathering & Processing | $8.00M | — | — | — |
| Total | $11.55B | $10.04B | $8.35B | $8.35B |
In fiscal 2025, which ended December 31, 2025, the 4 revenue lines Ovintiv Inc. reported in this breakdown added up to $8.35B. That was down 0.1% from $8.35B in fiscal 2024. Oil was the largest revenue line, at $3.42B or 41.0% of the total, followed by Natural Gas ($2.77B, 33.1%) and Natural Gas Liquids ($2.12B, 25.3%). Together, the two largest revenue lines made up 74.1% of this total.
Compared with fiscal 2024, Natural Gas grew the fastest, rising 161.1% to $2.77B. Oil fell the most, down 24.9% to $3.42B.
Natural Gas Gathering & Processing, And Other was first reported as a separate revenue line in fiscal 2023. The table also keeps 1 revenue line that Ovintiv Inc. no longer reports, so earlier years can still be read on their original basis; use "Show 1 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2022 to 2025, as reported in Ovintiv Inc.'s annual filings.
Product Revenue was the largest of Ovintiv Inc.’s 2 reported lines in fiscal 2025, at $3.54B — 56% of $6.34B.
| Major Customers | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Product Revenue | $4.53B | $2.90B | $2.72B | $3.54B | |||||
| Product Revenues Including Sale Of Product Purchased From Third Parties | — | — | — | — | |||||
| Sales Of Purchased Product | $4.08B | $2.59B | $1.45B | $2.80B | |||||
| Product & Service Revenues | — | $2.23B | $1.75B | — | |||||
| Total | $8.61B | $7.72B | $5.92B | $6.34B |
In fiscal 2025, which ended December 31, 2025, the 2 revenue lines Ovintiv Inc. reported in this breakdown added up to $6.34B. That is less than the $8.35B in its breakdown by revenue line, so these revenue lines do not account for all of its revenue that year. Product Revenue was the largest revenue line, at $3.54B or 55.8% of the total, followed by Sales Of Purchased Product ($2.80B, 44.2%).
Compared with fiscal 2024, Sales Of Purchased Product grew the fastest, rising 93.1% to $2.80B. Because revenue lines were added or dropped between the two years, part of this reflects how Ovintiv Inc. regrouped its reporting.
The table also keeps 2 revenue lines that Ovintiv Inc. no longer reports, so earlier years can still be read on their original basis; use "Show 2 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2017 to 2025, as reported in Ovintiv Inc.'s annual filings.
Ovintiv Inc. (OVV) breaks its revenue down by segment and revenue line. In fiscal 2025, its largest segment was Usa Operations Excluding Intercompany Segment Transactions, with $4.74B or 62.0% of the total, followed by Market Optimization Excluding Intercompany Segment Transactions at $1.42B (18.6%).
Usa Operations Excluding Intercompany Segment Transactions was Ovintiv Inc.'s largest segment in fiscal 2025, with $4.74B in revenue, 62.0% of the $7.65B reported across its 4 segments.
Oil was Ovintiv Inc.'s largest revenue line in fiscal 2025, with $3.42B in revenue, 41.0% of the $8.35B reported across its 4 revenue lines.
Of the Ovintiv Inc. segments reported in both fiscal 2024 and fiscal 2025, and making up at least 2% of the total, Usa Operations Excluding Intercompany Segment Transactions grew the fastest, rising 167.7% from $1.77B to $4.74B.
Every figure is taken from Ovintiv Inc.'s annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by segment covers fiscal 2018 to 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.