Ovintiv Inc (OVV)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	5,453,000	5,454,000	5,454,000	3,176,000	3,177,000	3,178,000	3,687,000	4,775,000	4,786,000	4,791,000	4,796,000	5,300,000	6,367,000	7,142,000	7,366,000	7,006,000	6,974,000
Total assets	US$ in thousands	19,987,000	19,900,000	19,519,000	15,123,000	15,056,000	14,374,000	14,923,000	14,900,000	14,055,000	13,636,000	13,767,000	14,534,000	14,469,000	15,157,000	16,795,000	21,505,000	21,487,000
Debt-to-assets ratio		0.27	0.27	0.28	0.21	0.21	0.22	0.25	0.32	0.34	0.35	0.35	0.36	0.44	0.47	0.44	0.33	0.32

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $5,453,000K ÷ $19,987,000K
= 0.27

The debt-to-assets ratio for Ovintiv Inc has fluctuated over the past eight quarters. The ratio ranged from 0.25 to 0.32, with Q2 and Q3 of 2023 showing the highest ratios at 0.32 and 0.31, respectively. This indicates that the company has been using a significant portion of debt to finance its assets during those quarters.

On the other hand, Q1 of 2023 and Q4 of 2022 had the lowest debt-to-assets ratios at 0.25, suggesting lower reliance on debt for asset financing during those periods. Overall, the trend shows some variability in Ovintiv Inc's debt management over the quarters analyzed. A lower ratio generally indicates lower financial risk and greater financial stability, while a higher ratio may suggest higher leverage and potential financial risk.

It is important for investors and stakeholders to monitor these ratios in conjunction with other financial metrics to assess Ovintiv Inc's overall financial health and risk profile.