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Side-by-side financial comparison of Ovintiv Inc. (OVV) and Solventum (SOLV). Click either name above to swap in a different company.
Ovintiv Inc. is the larger business by last-quarter revenue ($2.1B vs $2.0B, roughly 1.0× Solventum). Ovintiv Inc. runs the higher net margin — 46.1% vs 3.2%, a 42.9% gap on every dollar of revenue. On growth, Solventum posted the faster year-over-year revenue change (-3.7% vs -6.0%). Ovintiv Inc. produced more free cash flow last quarter ($489.0M vs $32.0M). Over the past eight quarters, Solventum's revenue compounded faster (-0.4% CAGR vs -7.2%).
Ovintiv Inc. is a U.S. petroleum company based in Denver. The company was formed in 2020 through a restructuring of its Canadian predecessor, Encana.
Solventum Corporation is an American health care company that was spun off from 3M on April 1, 2024.
OVV vs SOLV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $2.0B |
| Net Profit | $946.0M | $63.0M |
| Gross Margin | — | 51.4% |
| Operating Margin | 21.2% | 6.3% |
| Net Margin | 46.1% | 3.2% |
| Revenue YoY | -6.0% | -3.7% |
| Net Profit YoY | 1676.7% | 103.2% |
| EPS (diluted) | $3.64 | $0.37 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.1B | $2.0B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.2B | $2.2B | ||
| Q1 25 | $2.4B | $2.1B | ||
| Q4 24 | $2.2B | $2.1B | ||
| Q3 24 | $2.2B | $2.1B | ||
| Q2 24 | $2.2B | $2.1B | ||
| Q1 24 | $2.4B | $2.0B |
| Q4 25 | $946.0M | $63.0M | ||
| Q3 25 | $148.0M | $1.3B | ||
| Q2 25 | $307.0M | $90.0M | ||
| Q1 25 | $-159.0M | $137.0M | ||
| Q4 24 | $-60.0M | $31.0M | ||
| Q3 24 | $507.0M | $122.0M | ||
| Q2 24 | $340.0M | $89.0M | ||
| Q1 24 | $338.0M | $237.0M |
| Q4 25 | — | 51.4% | ||
| Q3 25 | — | 54.2% | ||
| Q2 25 | — | 54.4% | ||
| Q1 25 | — | 53.8% | ||
| Q4 24 | — | 53.9% | ||
| Q3 24 | — | 56.0% | ||
| Q2 24 | — | 54.6% | ||
| Q1 24 | — | 58.1% |
| Q4 25 | 21.2% | 6.3% | ||
| Q3 25 | 13.5% | 80.6% | ||
| Q2 25 | 23.1% | 9.9% | ||
| Q1 25 | -3.7% | 7.3% | ||
| Q4 24 | 0.1% | 6.6% | ||
| Q3 24 | 24.2% | 13.2% | ||
| Q2 24 | 25.4% | 11.7% | ||
| Q1 24 | 20.7% | 18.9% |
| Q4 25 | 46.1% | 3.2% | ||
| Q3 25 | 7.3% | 60.4% | ||
| Q2 25 | 13.9% | 4.2% | ||
| Q1 25 | -6.7% | 6.6% | ||
| Q4 24 | -2.7% | 1.5% | ||
| Q3 24 | 23.3% | 5.9% | ||
| Q2 24 | 15.5% | 4.3% | ||
| Q1 24 | 14.2% | 11.8% |
| Q4 25 | $3.64 | $0.37 | ||
| Q3 25 | $0.57 | $7.22 | ||
| Q2 25 | $1.18 | $0.51 | ||
| Q1 25 | $-0.61 | $0.78 | ||
| Q4 24 | $-0.22 | $0.18 | ||
| Q3 24 | $1.92 | $0.70 | ||
| Q2 24 | $1.27 | $0.51 | ||
| Q1 24 | $1.24 | $1.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $280.0M | $878.0M |
| Total DebtLower is stronger | $5.2B | $5.0B |
| Stockholders' EquityBook value | $11.2B | $5.0B |
| Total Assets | $20.4B | $14.3B |
| Debt / EquityLower = less leverage | 0.46× | 1.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $280.0M | $878.0M | ||
| Q3 25 | $25.0M | $1.6B | ||
| Q2 25 | $20.0M | $492.0M | ||
| Q1 25 | $8.0M | $534.0M | ||
| Q4 24 | $42.0M | $762.0M | ||
| Q3 24 | $9.0M | $772.0M | ||
| Q2 24 | $8.0M | $897.0M | ||
| Q1 24 | $5.0M | $996.0M |
| Q4 25 | $5.2B | $5.0B | ||
| Q3 25 | $5.2B | $5.1B | ||
| Q2 25 | $5.3B | $7.8B | ||
| Q1 25 | $5.5B | $7.9B | ||
| Q4 24 | $5.5B | $8.0B | ||
| Q3 24 | $5.9B | $8.1B | ||
| Q2 24 | $6.1B | $8.3B | ||
| Q1 24 | $6.2B | $8.3B |
| Q4 25 | $11.2B | $5.0B | ||
| Q3 25 | $10.2B | $5.0B | ||
| Q2 25 | $10.4B | $3.6B | ||
| Q1 25 | $10.1B | $3.3B | ||
| Q4 24 | $10.3B | $3.0B | ||
| Q3 24 | $10.7B | $3.2B | ||
| Q2 24 | $10.3B | $2.9B | ||
| Q1 24 | $10.3B | $3.9B |
| Q4 25 | $20.4B | $14.3B | ||
| Q3 25 | $19.4B | $14.0B | ||
| Q2 25 | $19.7B | $15.1B | ||
| Q1 25 | $19.6B | $14.5B | ||
| Q4 24 | $19.3B | $14.5B | ||
| Q3 24 | $19.9B | $14.7B | ||
| Q2 24 | $19.8B | $14.6B | ||
| Q1 24 | $19.8B | $14.7B |
| Q4 25 | 0.46× | 1.00× | ||
| Q3 25 | 0.51× | 1.03× | ||
| Q2 25 | 0.51× | 2.14× | ||
| Q1 25 | 0.55× | 2.43× | ||
| Q4 24 | 0.53× | 2.71× | ||
| Q3 24 | 0.55× | 2.54× | ||
| Q2 24 | 0.59× | 2.90× | ||
| Q1 24 | 0.60× | 2.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $954.0M | $95.0M |
| Free Cash FlowOCF − Capex | $489.0M | $32.0M |
| FCF MarginFCF / Revenue | 23.8% | 1.6% |
| Capex IntensityCapex / Revenue | 22.6% | 3.2% |
| Cash ConversionOCF / Net Profit | 1.01× | 1.51× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $-10.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $954.0M | $95.0M | ||
| Q3 25 | $812.0M | $76.0M | ||
| Q2 25 | $1.0B | $169.0M | ||
| Q1 25 | $873.0M | $29.0M | ||
| Q4 24 | $1.0B | $219.0M | ||
| Q3 24 | $1.0B | $169.0M | ||
| Q2 24 | $1.0B | $355.0M | ||
| Q1 24 | $659.0M | $442.0M |
| Q4 25 | $489.0M | $32.0M | ||
| Q3 25 | $268.0M | $-21.0M | ||
| Q2 25 | $492.0M | $59.0M | ||
| Q1 25 | $256.0M | $-80.0M | ||
| Q4 24 | $468.0M | $92.0M | ||
| Q3 24 | $484.0M | $76.0M | ||
| Q2 24 | $398.0M | $297.0M | ||
| Q1 24 | $68.0M | $340.0M |
| Q4 25 | 23.8% | 1.6% | ||
| Q3 25 | 13.3% | -1.0% | ||
| Q2 25 | 22.2% | 2.7% | ||
| Q1 25 | 10.8% | -3.9% | ||
| Q4 24 | 21.4% | 4.4% | ||
| Q3 24 | 22.2% | 3.7% | ||
| Q2 24 | 18.1% | 14.3% | ||
| Q1 24 | 2.8% | 16.9% |
| Q4 25 | 22.6% | 3.2% | ||
| Q3 25 | 26.9% | 4.6% | ||
| Q2 25 | 23.5% | 5.1% | ||
| Q1 25 | 26.0% | 5.3% | ||
| Q4 24 | 25.3% | 6.1% | ||
| Q3 24 | 24.7% | 4.5% | ||
| Q2 24 | 28.4% | 2.8% | ||
| Q1 24 | 24.8% | 5.1% |
| Q4 25 | 1.01× | 1.51× | ||
| Q3 25 | 5.49× | 0.06× | ||
| Q2 25 | 3.30× | 1.88× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | — | 7.06× | ||
| Q3 24 | 2.02× | 1.39× | ||
| Q2 24 | 3.00× | 3.99× | ||
| Q1 24 | 1.95× | 1.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OVV
| Product And Service Revenue | $1.7B | 84% |
| Sales Of Purchased Product | $338.0M | 16% |
SOLV
| Infection Prevention And Surgical Solutions | $752.0M | 38% |
| Cost Of Software And Rentals | $508.0M | 25% |
| Health Information Systems Segment | $347.0M | 17% |
| Dental Solutions Segment | $343.0M | 17% |
| Related Party | $14.0M | 1% |
