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Side-by-side financial comparison of Ovintiv Inc. (OVV) and Ulta Beauty (ULTA). Click either name above to swap in a different company.
Ulta Beauty is the larger business by last-quarter revenue ($2.9B vs $2.1B, roughly 1.4× Ovintiv Inc.). Ovintiv Inc. runs the higher net margin — 46.1% vs 8.1%, a 38.0% gap on every dollar of revenue. On growth, Ulta Beauty posted the faster year-over-year revenue change (12.9% vs -6.0%). Ovintiv Inc. produced more free cash flow last quarter ($489.0M vs $-81.6M). Over the past eight quarters, Ulta Beauty's revenue compounded faster (7.2% 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.
Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc. and before 2000 as Ulta3, is an American chain of cosmetic stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries both high- and low-end cosmetics, fragrances, nail products, bath and body products, beauty tools and haircare products. Each location has a beauty salon available to the public.
OVV vs ULTA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $2.9B |
| Net Profit | $946.0M | $230.9M |
| Gross Margin | — | 40.4% |
| Operating Margin | 21.2% | 10.8% |
| Net Margin | 46.1% | 8.1% |
| Revenue YoY | -6.0% | 12.9% |
| Net Profit YoY | 1676.7% | -4.7% |
| EPS (diluted) | $3.64 | $5.14 |
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 | $2.9B | ||
| Q3 25 | $2.0B | $2.8B | ||
| Q2 25 | $2.2B | $2.8B | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.2B | $2.5B | ||
| Q3 24 | $2.2B | $2.6B | ||
| Q2 24 | $2.2B | $2.7B | ||
| Q1 24 | $2.4B | $3.6B |
| Q4 25 | $946.0M | $230.9M | ||
| Q3 25 | $148.0M | $260.9M | ||
| Q2 25 | $307.0M | $305.1M | ||
| Q1 25 | $-159.0M | — | ||
| Q4 24 | $-60.0M | $242.2M | ||
| Q3 24 | $507.0M | $252.6M | ||
| Q2 24 | $340.0M | $313.1M | ||
| Q1 24 | $338.0M | $394.4M |
| Q4 25 | — | 40.4% | ||
| Q3 25 | — | 39.2% | ||
| Q2 25 | — | 39.1% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 39.7% | ||
| Q3 24 | — | 38.3% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 37.7% |
| Q4 25 | 21.2% | 10.8% | ||
| Q3 25 | 13.5% | 12.4% | ||
| Q2 25 | 23.1% | 14.1% | ||
| Q1 25 | -3.7% | — | ||
| Q4 24 | 0.1% | 12.6% | ||
| Q3 24 | 24.2% | 12.9% | ||
| Q2 24 | 25.4% | 14.7% | ||
| Q1 24 | 20.7% | 14.5% |
| Q4 25 | 46.1% | 8.1% | ||
| Q3 25 | 7.3% | 9.4% | ||
| Q2 25 | 13.9% | 10.7% | ||
| Q1 25 | -6.7% | — | ||
| Q4 24 | -2.7% | 9.6% | ||
| Q3 24 | 23.3% | 9.9% | ||
| Q2 24 | 15.5% | 11.5% | ||
| Q1 24 | 14.2% | 11.1% |
| Q4 25 | $3.64 | $5.14 | ||
| Q3 25 | $0.57 | $5.78 | ||
| Q2 25 | $1.18 | $6.70 | ||
| Q1 25 | $-0.61 | — | ||
| Q4 24 | $-0.22 | $5.14 | ||
| Q3 24 | $1.92 | $5.30 | ||
| Q2 24 | $1.27 | $6.47 | ||
| Q1 24 | $1.24 | $8.06 |
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 | $204.9M |
| Total DebtLower is stronger | $5.2B | — |
| Stockholders' EquityBook value | $11.2B | $2.6B |
| Total Assets | $20.4B | $7.0B |
| Debt / EquityLower = less leverage | 0.46× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $280.0M | $204.9M | ||
| Q3 25 | $25.0M | $242.7M | ||
| Q2 25 | $20.0M | $454.6M | ||
| Q1 25 | $8.0M | — | ||
| Q4 24 | $42.0M | $177.8M | ||
| Q3 24 | $9.0M | $414.0M | ||
| Q2 24 | $8.0M | $524.6M | ||
| Q1 24 | $5.0M | $766.6M |
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.2B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.5B | — | ||
| Q4 24 | $5.5B | — | ||
| Q3 24 | $5.9B | — | ||
| Q2 24 | $6.1B | — | ||
| Q1 24 | $6.2B | — |
| Q4 25 | $11.2B | $2.6B | ||
| Q3 25 | $10.2B | $2.6B | ||
| Q2 25 | $10.4B | $2.4B | ||
| Q1 25 | $10.1B | — | ||
| Q4 24 | $10.3B | $2.3B | ||
| Q3 24 | $10.7B | $2.3B | ||
| Q2 24 | $10.3B | $2.3B | ||
| Q1 24 | $10.3B | $2.3B |
| Q4 25 | $20.4B | $7.0B | ||
| Q3 25 | $19.4B | $6.6B | ||
| Q2 25 | $19.7B | $6.0B | ||
| Q1 25 | $19.6B | — | ||
| Q4 24 | $19.3B | $6.0B | ||
| Q3 24 | $19.9B | $5.7B | ||
| Q2 24 | $19.8B | $5.6B | ||
| Q1 24 | $19.8B | $5.7B |
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.51× | — | ||
| Q1 25 | 0.55× | — | ||
| Q4 24 | 0.53× | — | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.60× | — |
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 | $5.6M |
| Free Cash FlowOCF − Capex | $489.0M | $-81.6M |
| FCF MarginFCF / Revenue | 23.8% | -2.9% |
| Capex IntensityCapex / Revenue | 22.6% | 3.1% |
| Cash ConversionOCF / Net Profit | 1.01× | 0.02× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $-92.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $954.0M | $5.6M | ||
| Q3 25 | $812.0M | $96.5M | ||
| Q2 25 | $1.0B | $220.0M | ||
| Q1 25 | $873.0M | — | ||
| Q4 24 | $1.0B | $-56.8M | ||
| Q3 24 | $1.0B | $199.5M | ||
| Q2 24 | $1.0B | $159.3M | ||
| Q1 24 | $659.0M | $1.1B |
| Q4 25 | $489.0M | $-81.6M | ||
| Q3 25 | $268.0M | $19.6M | ||
| Q2 25 | $492.0M | $141.0M | ||
| Q1 25 | $256.0M | — | ||
| Q4 24 | $468.0M | $-171.1M | ||
| Q3 24 | $484.0M | $104.3M | ||
| Q2 24 | $398.0M | $68.3M | ||
| Q1 24 | $68.0M | $994.0M |
| Q4 25 | 23.8% | -2.9% | ||
| Q3 25 | 13.3% | 0.7% | ||
| Q2 25 | 22.2% | 4.9% | ||
| Q1 25 | 10.8% | — | ||
| Q4 24 | 21.4% | -6.8% | ||
| Q3 24 | 22.2% | 4.1% | ||
| Q2 24 | 18.1% | 2.5% | ||
| Q1 24 | 2.8% | 28.0% |
| Q4 25 | 22.6% | 3.1% | ||
| Q3 25 | 26.9% | 2.8% | ||
| Q2 25 | 23.5% | 2.8% | ||
| Q1 25 | 26.0% | — | ||
| Q4 24 | 25.3% | 4.5% | ||
| Q3 24 | 24.7% | 3.7% | ||
| Q2 24 | 28.4% | 3.3% | ||
| Q1 24 | 24.8% | 3.5% |
| Q4 25 | 1.01× | 0.02× | ||
| Q3 25 | 5.49× | 0.37× | ||
| Q2 25 | 3.30× | 0.72× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.23× | ||
| Q3 24 | 2.02× | 0.79× | ||
| Q2 24 | 3.00× | 0.51× | ||
| Q1 24 | 1.95× | 2.84× |
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% |
ULTA
Segment breakdown not available.
