Ovintiv (OVV) FY2023 results: revenue $10.9 billion, down 12.7% on the year
Ovintiv Inc. (OVV) reported revenue of $10.9 billion for fiscal 2023, the year ended 31 December 2023, down 12.7% on the year before. Net income was $2.1 billion, down 42.7%, and diluted earnings per share $7.90. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$10.9 billion
-12.7% on the year
FY2017FY2023
Operating margin
26.3%
30.9% a year earlier
FY2017FY2023
Net income
$2.1 billion
-42.7% on the year
FY2017FY2023
Diluted EPS
$7.90
-43.9% on the year
FY2017FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,167
3,866
3,129
+7.8%
Capital expenditure
2,744
1,831
1,519
+49.9%
Free cash flow
1,423
2,035
1,610
-30.1%
Free cash flow margin
13.1%
16.3%
18.6%
Cash from investing
-5,519
-1,786
-525
Cash from financing
1,359
-2,268
-2,419
Depreciation and amortisation
1,825
1,113
1,190
+64.0%
Share-based compensation
47.0
202
138
-76.7%
Buybacks
426
719
111
-40.8%
Dividends paid
307
239
122
+28.5%
Dividend per share
$1.15
$0.95
$0.47
+21.1%
Diluted shares, weighted
264m
258m
266m
+2.1%
Shares outstanding at period end
272m
246m
258m
+10.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
10,370
7,689
5,074
+34.9%
Debt
5,737
3,570
4,786
+60.7%
Operating lease liabilities
832
814
889
+2.2%
Finance lease liabilities
20.0
27.0
33.0
-25.9%
Other liabilities
3,028
2,956
3,273
+2.4%
Total liabilities and equity
19,987
15,056
14,055
+32.8%
Fixed assets
14,640
9,468
8,761
+54.6%
Goodwill
2,599
2,584
2,628
+0.6%
Investments
26.0
21.0
27.0
+23.8%
Cash and equivalents
3.0
5.0
195
-40.0%
Other assets
2,719
2,978
2,444
-8.7%
Total assets
19,987
15,056
14,055
+32.8%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.