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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| 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 |
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.
Peer comparison
Dec 31, 2023