Usa Operations was Ovintiv’s largest segment in fiscal 2025, bringing in $5.94B of $8.91B (67%).
| Segment | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Usa Operations Excluding Intercompany Segment Transactions | $10.35B | — | — | — | |||||
| Usa Operations | — | $8.19B | $7.18B | $5.94B | |||||
| Market Optimization Excluding Intercompany Segment Transactions | $3.92B | — | — | — | |||||
| Canadian Operations Excluding Intercompany Segment Transactions | — | — | — | — | |||||
| Canadian Operations | — | $2.43B | $2.03B | $2.89B | |||||
| Market Optimization | — | — | — | — | |||||
| Corporate & Other | — | $265.00M | -$62.00M | $79.00M | |||||
| China Operations Excluding Intercompany Segment Transactions | — | — | — | — | |||||
| Total | $14.26B | $10.88B | $9.15B | $8.91B |
Ovintiv brought in $8.91B from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 2.7% from $9.15B in fiscal 2024. Usa Operations was the largest at $5.94B (66.6%), ahead of Canadian Operations at $2.89B (32.5%) and Corporate & Other at $79.00M (0.9%).
Compared with fiscal 2024, Canadian Operations grew 42.3% to $2.89B, while Usa Operations fell 17.3% to $5.94B.
Ovintiv stopped reporting Usa Operations Excluding Intercompany Segment Transactions ($10.35B in fiscal 2022) and Market Optimization Excluding Intercompany Segment Transactions ($3.92B in fiscal 2022) as separate segments.
Product & Service Revenues was Ovintiv’s largest revenue line in fiscal 2022, bringing in $10.18B of $14.26B (71%).
| Customer | FY 2019 | FY 2021 | FY 2022 |
|---|---|---|---|
| Product & Service Revenues | — | — | $10.18B |
| Product Revenues Including Sale Of Product Purchased From Third Parties | $7.01B | $10.46B | — |
| Sales Of Purchased Product | — | — | $4.08B |
| Total | $7.01B | $10.46B | $14.26B |
Ovintiv brought in $14.26B from its two revenue lines in fiscal 2022, the year ended December 31, 2022. Ovintiv regrouped these revenue lines after fiscal 2021, so the total does not compare directly with that year's $10.46B. Product & Service Revenues was the largest at $10.18B (71.4%), ahead of Sales Of Purchased Product at $4.08B (28.6%).
Ovintiv began breaking out Product & Service Revenues in fiscal 2022 and Sales Of Purchased Product in fiscal 2022. Ovintiv stopped reporting Product Revenues Including Sale Of Product Purchased From Third Parties as a separate revenue line after fiscal 2021, when it brought in $10.46B.
Oil was Ovintiv’s largest product and service line in fiscal 2021, bringing in $5.64B of $10.46B (54%).
| Product and Service | FY 2019 | FY 2021 |
|---|---|---|
| Oil | $3.64B | $5.64B |
| Natural Gas | $2.03B | $2.75B |
| Natural Gas Liquids | $1.34B | $2.07B |
| Total | $7.01B | $10.46B |
Ovintiv brought in $10.46B from its three product and service lines in fiscal 2021, the year ended December 31, 2021. That was up 49.3% from $7.01B in fiscal 2019, the previous year with figures. Oil was the largest at $5.64B (54.0%), ahead of Natural Gas at $2.75B (26.2%) and Natural Gas Liquids at $2.07B (19.8%).
Compared with fiscal 2019, the previous year with figures, Oil grew fastest, up 55.2% to $5.64B. Every line above 2% of revenue grew. From fiscal 2019 to 2021, combined revenue from these lines grew from $7.01B to $10.46B, a compound annual growth rate of 22.2%. Oil's share of the total rose from 51.9% to 54.0%.
Ovintiv (OVV) reports its revenue by segment, by customer and by product and service. In fiscal 2025, Usa Operations was its largest segment, bringing in $5.94B (66.6% of the total), followed by Canadian Operations at $2.89B (32.5%).
Usa Operations was Ovintiv's largest segment in fiscal 2025, bringing in $5.94B, or 66.6% of the $8.91B total across its three segments.
Product & Service Revenues was Ovintiv's largest revenue line in fiscal 2022, bringing in $10.18B, or 71.4% of the $14.26B total across its two revenue lines.
Oil was Ovintiv's largest product and service line in fiscal 2021, bringing in $5.64B, or 54.0% of the $10.46B total across its three product and service lines.
Canadian Operations grew faster than Usa Operations in fiscal 2025, up 42.3% from $2.03B to $2.89B. Usa Operations fell 17.3% to $5.94B.
Every figure comes from Ovintiv's annual financial filings, as reported. Each line keeps the name Ovintiv gives it, and years follow its fiscal calendar.
Ovintiv's revenue by segment goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.