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Side-by-side financial comparison of Ovintiv Inc. (OVV) and WATSCO INC (WSO). Click either name above to swap in a different company.
Ovintiv Inc. is the larger business by last-quarter revenue ($2.1B vs $1.6B, roughly 1.3× WATSCO INC). Ovintiv Inc. runs the higher net margin — 46.1% vs 4.5%, a 41.5% gap on every dollar of revenue. On growth, Ovintiv Inc. posted the faster year-over-year revenue change (-6.0% vs -10.0%). Ovintiv Inc. produced more free cash flow last quarter ($489.0M vs $388.5M). Over the past eight quarters, WATSCO INC'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.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
OVV vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.6B |
| Net Profit | $946.0M | $71.7M |
| Gross Margin | — | 27.1% |
| Operating Margin | 21.2% | 6.4% |
| Net Margin | 46.1% | 4.5% |
| Revenue YoY | -6.0% | -10.0% |
| Net Profit YoY | 1676.7% | -25.9% |
| EPS (diluted) | $3.64 | $1.82 |
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 | $1.6B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.4B | $1.5B | ||
| Q4 24 | $2.2B | $1.8B | ||
| Q3 24 | $2.2B | $2.2B | ||
| Q2 24 | $2.2B | $2.1B | ||
| Q1 24 | $2.4B | $1.6B |
| Q4 25 | $946.0M | $71.7M | ||
| Q3 25 | $148.0M | $161.6M | ||
| Q2 25 | $307.0M | $183.6M | ||
| Q1 25 | $-159.0M | $80.1M | ||
| Q4 24 | $-60.0M | $96.8M | ||
| Q3 24 | $507.0M | $171.0M | ||
| Q2 24 | $340.0M | $181.4M | ||
| Q1 24 | $338.0M | $87.0M |
| Q4 25 | — | 27.1% | ||
| Q3 25 | — | 27.5% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 28.1% | ||
| Q4 24 | — | 26.7% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.1% | ||
| Q1 24 | — | 27.5% |
| Q4 25 | 21.2% | 6.4% | ||
| Q3 25 | 13.5% | 11.4% | ||
| Q2 25 | 23.1% | 13.2% | ||
| Q1 25 | -3.7% | 7.3% | ||
| Q4 24 | 0.1% | 7.8% | ||
| Q3 24 | 24.2% | 11.6% | ||
| Q2 24 | 25.4% | 12.6% | ||
| Q1 24 | 20.7% | 8.1% |
| Q4 25 | 46.1% | 4.5% | ||
| Q3 25 | 7.3% | 7.8% | ||
| Q2 25 | 13.9% | 8.9% | ||
| Q1 25 | -6.7% | 5.2% | ||
| Q4 24 | -2.7% | 5.5% | ||
| Q3 24 | 23.3% | 7.9% | ||
| Q2 24 | 15.5% | 8.5% | ||
| Q1 24 | 14.2% | 5.6% |
| Q4 25 | $3.64 | $1.82 | ||
| Q3 25 | $0.57 | $3.98 | ||
| Q2 25 | $1.18 | $4.52 | ||
| Q1 25 | $-0.61 | $1.93 | ||
| Q4 24 | $-0.22 | $2.42 | ||
| Q3 24 | $1.92 | $4.22 | ||
| Q2 24 | $1.27 | $4.49 | ||
| Q1 24 | $1.24 | $2.17 |
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 | $733.3M |
| Total DebtLower is stronger | $5.2B | $361.6M |
| Stockholders' EquityBook value | $11.2B | $2.8B |
| Total Assets | $20.4B | $4.4B |
| Debt / EquityLower = less leverage | 0.46× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $280.0M | $733.3M | ||
| Q3 25 | $25.0M | $524.3M | ||
| Q2 25 | $20.0M | $293.0M | ||
| Q1 25 | $8.0M | $431.8M | ||
| Q4 24 | $42.0M | $781.9M | ||
| Q3 24 | $9.0M | $550.0M | ||
| Q2 24 | $8.0M | $424.9M | ||
| Q1 24 | $5.0M | $478.9M |
| Q4 25 | $5.2B | $361.6M | ||
| Q3 25 | $5.2B | $340.8M | ||
| Q2 25 | $5.3B | $338.7M | ||
| Q1 25 | $5.5B | $346.4M | ||
| Q4 24 | $5.5B | $337.2M | ||
| Q3 24 | $5.9B | $321.0M | ||
| Q2 24 | $6.1B | $307.1M | ||
| Q1 24 | $6.2B | $306.3M |
| Q4 25 | $11.2B | $2.8B | ||
| Q3 25 | $10.2B | $2.8B | ||
| Q2 25 | $10.4B | $2.8B | ||
| Q1 25 | $10.1B | $2.7B | ||
| Q4 24 | $10.3B | $2.7B | ||
| Q3 24 | $10.7B | $2.7B | ||
| Q2 24 | $10.3B | $2.6B | ||
| Q1 24 | $10.3B | $2.5B |
| Q4 25 | $20.4B | $4.4B | ||
| Q3 25 | $19.4B | $4.6B | ||
| Q2 25 | $19.7B | $4.7B | ||
| Q1 25 | $19.6B | $4.5B | ||
| Q4 24 | $19.3B | $4.5B | ||
| Q3 24 | $19.9B | $4.5B | ||
| Q2 24 | $19.8B | $4.4B | ||
| Q1 24 | $19.8B | $4.4B |
| Q4 25 | 0.46× | 0.13× | ||
| Q3 25 | 0.51× | 0.12× | ||
| Q2 25 | 0.51× | 0.12× | ||
| Q1 25 | 0.55× | 0.13× | ||
| Q4 24 | 0.53× | 0.13× | ||
| Q3 24 | 0.55× | 0.12× | ||
| Q2 24 | 0.59× | 0.12× | ||
| Q1 24 | 0.60× | 0.12× |
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 | $399.8M |
| Free Cash FlowOCF − Capex | $489.0M | $388.5M |
| FCF MarginFCF / Revenue | 23.8% | 24.6% |
| Capex IntensityCapex / Revenue | 22.6% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.01× | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $954.0M | $399.8M | ||
| Q3 25 | $812.0M | $354.9M | ||
| Q2 25 | $1.0B | $-7.4M | ||
| Q1 25 | $873.0M | $-177.6M | ||
| Q4 24 | $1.0B | $378.9M | ||
| Q3 24 | $1.0B | $232.8M | ||
| Q2 24 | $1.0B | $57.7M | ||
| Q1 24 | $659.0M | $103.7M |
| Q4 25 | $489.0M | $388.5M | ||
| Q3 25 | $268.0M | $346.1M | ||
| Q2 25 | $492.0M | $-14.3M | ||
| Q1 25 | $256.0M | $-185.2M | ||
| Q4 24 | $468.0M | $370.9M | ||
| Q3 24 | $484.0M | $223.0M | ||
| Q2 24 | $398.0M | $51.3M | ||
| Q1 24 | $68.0M | $97.9M |
| Q4 25 | 23.8% | 24.6% | ||
| Q3 25 | 13.3% | 16.7% | ||
| Q2 25 | 22.2% | -0.7% | ||
| Q1 25 | 10.8% | -12.1% | ||
| Q4 24 | 21.4% | 21.1% | ||
| Q3 24 | 22.2% | 10.3% | ||
| Q2 24 | 18.1% | 2.4% | ||
| Q1 24 | 2.8% | 6.3% |
| Q4 25 | 22.6% | 0.7% | ||
| Q3 25 | 26.9% | 0.4% | ||
| Q2 25 | 23.5% | 0.3% | ||
| Q1 25 | 26.0% | 0.5% | ||
| Q4 24 | 25.3% | 0.5% | ||
| Q3 24 | 24.7% | 0.5% | ||
| Q2 24 | 28.4% | 0.3% | ||
| Q1 24 | 24.8% | 0.4% |
| Q4 25 | 1.01× | 5.57× | ||
| Q3 25 | 5.49× | 2.20× | ||
| Q2 25 | 3.30× | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | 2.02× | 1.36× | ||
| Q2 24 | 3.00× | 0.32× | ||
| Q1 24 | 1.95× | 1.19× |
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% |
WSO
Segment breakdown not available.
