Expand Energy
EXE · Oil & Gas Exploration & Production
$93.23
0.3%Ovintiv
OVV · Oil & Gas Exploration & Production
$72.27
4.3%The short version
- Expand Energy is the larger business, with $12.1B of revenue in fiscal 2025 against $8.9B for Ovintiv.
- Expand Energy grew revenue faster (186.3%, against −2.7%).
- Expand Energy kept more of each dollar of sales as operating profit (20.4% operating margin, against 12.7% operating margin).
- Ovintiv turned more of its sales into free cash flow (16.9% FCF margin, against 15.2% FCF margin).
- Expand Energy earned a higher return on the capital invested in it (8.6%, against 7.1%).
- Investors pay more for each dollar of Ovintiv’s earnings: a P/E of 20.7x against 8.1x for Expand Energy.
| Latest fiscal year | EXE · FY25 | OVV · FY25 |
|---|---|---|
| Size | ||
| Market cap | $22.2B | $20.4B |
| Revenue | $12.1B | $8.9B |
| Free cash flow | $1.8B | $1.5B |
| Net income | $1.8B | $1.2B |
| Growth | ||
| Revenue growth | 186.3% | −2.7% |
| 5-year growth | 7.3% | 7.9% |
| Share count change | 53.1% | −2.9% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 20.4% | 12.7% |
| Net margin | 15.0% | 13.9% |
| FCF margin | 15.2% | 16.9% |
| Return on capital | 8.6% | 7.1% |
| Return on equity | 10.1% | 11.5% |
| Balance sheet | ||
| Net debt | $4.4B | $4.9B |
| Net debt / EBITDA | 0.8x | 1.5x |
| Dividends and buybacks | $865M | $615M |
| Valuation & quality | ||
| P/E | 8.1x | 20.7x |
| Piotroski F-score | 7 | 8 |
FY16
EXE $7.9B
OVV $2.9B
FY17
EXE $10.0B
OVV $4.4B
FY18
EXE $10.0B
OVV $5.9B
FY19
EXE $8.5B
OVV $6.7B
FY20
EXE $5.2B
OVV $6.1B
FY21
EXE —
OVV $8.7B
FY22
EXE $11.7B
OVV $12.5B
FY23
EXE $8.7B
OVV $10.9B
FY24
EXE $4.2B
OVV $9.2B
FY25
EXE $12.1B
OVV $8.9B
EXE
OVV
FY16
EXE −56.0%
OVV −64.5%
FY17
EXE −1.4%
OVV 24.0%
FY18
EXE 3.8%
OVV 28.5%
FY19
EXE −0.4%
OVV 8.9%
FY20
EXE −166.1%
OVV −88.7%
FY21
EXE —
OVV 17.5%
FY22
EXE 32.2%
OVV 30.9%
FY23
EXE 36.0%
OVV 26.3%
FY24
EXE −19.0%
OVV 17.3%
FY25
EXE 20.4%
OVV 12.7%
EXE
OVV
FY16
EXE −$1.7B
OVV −$507M
FY17
EXE −$1.6B
OVV −$746M
FY18
EXE −$118M
OVV $325M
FY19
EXE −$640M
OVV $295M
FY20
EXE $22.0M
OVV $159M
FY21
EXE —
OVV $1.6B
FY22
EXE $2.3B
OVV $2.0B
FY23
EXE $551M
OVV $1.4B
FY24
EXE $8.0M
OVV $1.4B
FY25
EXE $1.8B
OVV $1.5B
EXE
OVV
FY16
EXE −33.8%
OVV −14.3%
FY17
EXE −1.1%
OVV 6.3%
FY18
EXE 3.5%
OVV 14.8%
FY19
EXE −0.2%
OVV 3.2%
FY20
EXE −135.0%
OVV −30.7%
FY21
EXE —
OVV 14.8%
FY22
EXE —
OVV 36.7%
FY23
EXE 20.6%
OVV 17.4%
FY24
EXE −3.7%
OVV 8.3%
FY25
EXE 8.6%
OVV 7.1%
EXE
OVV
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.