Ovintiv Inc (OVV)

Gross profit margin

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Gross profit US$ in thousands 4,983,000 4,965,000 7,296,000 4,224,000 2,714,000
Revenue US$ in thousands 9,152,000 10,661,000 12,464,000 8,658,000 6,087,000
Gross profit margin 54.45% 46.57% 58.54% 48.79% 44.59%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $4,983,000K ÷ $9,152,000K
= 54.45%

Based on the provided data, Ovintiv Inc's gross profit margin has shown fluctuations over the years. In 2020, the gross profit margin stood at 44.59%, which increased to 48.79% by the end of 2021, indicating an improvement in the company's profitability.

The trend continued positively into 2022, with the gross profit margin significantly rising to 58.54%, reflecting a considerable increase in profitability. However, in 2023, the gross profit margin slightly decreased to 46.57%, suggesting a possible decrease in the company's efficiency in generating profits from its core operations.

By the end of 2024, Ovintiv Inc's gross profit margin recovered and increased to 54.45%, indicating an improvement compared to the previous year. Overall, the company has shown varying levels of gross profit margins over the years, highlighting the importance of monitoring and analyzing this metric to assess Ovintiv Inc's financial performance and efficiency in managing its production costs.