Ovintiv (FRA:47Q) ROCE % : 27.69% (As of Dec. 2023)

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What is Ovintiv ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Ovintiv's annualized ROCE % for the quarter that ended in Dec. 2023 was 27.69%.

Ovintiv ROCE % Historical Data

The historical data trend for Ovintiv's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Ovintiv ROCE % Chart

Ovintiv Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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4.35

-32.57

14.04

33.84

19.22

Ovintiv Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															38.91	21.98	14.34	12.33	27.69

Ovintiv ROCE % Calculation

Ovintiv's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	2627.205	/	( ( (14212.864 - 2624.32)	+	(18328.079 - 2578.604) )	/ 2 )
	=	2627.205	/	( (11588.544	+	15749.475)	/ 2 )
	=	2627.205	/	13669.0095
	=	19.22 %

Ovintiv's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	4302.564	/	( ( (18646.3 - 3319.791)	+	(18328.079 - 2578.604) )	/ 2 )
	=	4302.564	/	( ( 15326.509	+	15749.475 )	/ 2 )
	=	4302.564	/	15537.992
	=	27.69 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Ovintiv (FRA:47Q) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Ovintiv ROCE % Related Terms

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Ovintiv (FRA:47Q) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Ovintiv Inc (FRA:47Q) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

OVV:USA 47Q:Germany OVV:Canada

Address

370 - 17th Street, Suite 1700, Denver, CO, USA, 80202

Website

https://www.ovintiv.com

Ovintiv is an independent oil and gas producer with key assets in the Permian, Eagle Ford, Montney, and Duvernay areas. At the end of 2019, the company reported net proven reserves of 1,348 million barrels of oil equivalent. Net production averaged 543 thousand barrels of oil equivalent per day in 2020 at a ratio of 53% oil and natural gas liquids and 47% natural gas.

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