EQT vs Ovintiv
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KIRA’s take AI analyst
I put EQT and Ovintiv side by side, using each one’s latest annual report. Here is what stands out:
- Ovintiv is the larger business, with $8.9B of revenue in fiscal 2025 against $8.6B for EQT.
- EQT grew revenue faster (63.9%, against −2.7%).
- EQT kept more of each dollar of sales as operating profit (37.6% operating margin, against 12.7%).
- EQT turned more of its sales into free cash flow (32.8% FCF margin, against 16.9%).
- Investors pay more for each dollar of Ovintiv’s earnings: a P/E of 20.8x against 12.7x for EQT.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
EQT
EQT
7/10
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalNet debt / EBITDA
Ovintiv
OVV
2/10
Return on equityShare count change
Side by side
Best in the row
| Latest fiscal year | EQT FY25 | OVV FY25 |
|---|---|---|
| Size | ||
| Market cap | $34.5B | $20.5B |
| Revenue | $8.6B | $8.9B |
| Free cash flow | $2.8B | $1.5B |
| Net income | $2.0B | $1.2B |
| Growth | ||
| Revenue growth | 63.9% | −2.7% |
| 5-year growth | 23.1% | 7.9% |
| Share count change | 19.7% | −2.9% |
| Profitability | ||
| Gross margin | 82.3% | — |
| Operating margin | 37.6% | 12.7% |
| Net margin | 23.6% | 13.9% |
| FCF margin | 32.8% | 16.9% |
| Return on capital | 7.4% | 7.1% |
| Return on equity | 9.2% | 11.5% |
| Balance sheet | ||
| Net debt | $7.7B | $4.9B |
| Net debt / EBITDA | 1.3x | 1.5x |
| Dividends and buybacks | $390M | $615M |
| Valuation & quality | ||
| P/E | 12.7x | 20.8x |
| Piotroski F-score | 8 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.