OVV vs TPL: Ovintiv and Texas Pacific Land compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Texas Pacific Land is the larger company, worth $24.9B, about 1.3 times Ovintiv.
- Texas Pacific Land grew revenue faster over the last year (+31.2% vs +29.7%).
- Texas Pacific Land keeps more of each dollar of revenue as operating profit (74.9% vs 10.0%).
- On earnings, Ovintiv is the cheaper stock (22.1x vs 49.4x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | OVV | TPL |
|---|---|---|
| Market cap | $18.9B | $24.9B |
| Share price | $63.88 | $360.98 |
| Revenue (last fiscal year) | $8.7B | $798M |
| Free cash flow (last fiscal year) | $1.5B | — |
| Revenue growth, last year | +29.7% | +31.2% |
| Revenue growth per year, last 5 fiscal years | -4.6% | +15.3% |
| Operating margin | 10.0% | 74.9% |
| Net margin | 9.7% | 60.3% |
| Return on equity | 8.0% | 32.4% |
| P/E (trailing) | 22.1x | 49.4x |
| Price / free cash flow | 12.6x | 51.2x |
| EV / EBITDA | 9.38x | 32.6x |
| FCF growth the price implies | -1.1% | — |
| Dividend yield | 1.8% | 0.61% |
| Debt / equity | 0.68x | 0.11x |
| Fundamental grade | B | B |
| Superinvestors holding it | 2 | 5 |
| Insider purchases, last 12 months | 0 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Ovintiv
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $10.5B | $1.6B | 14.5% |
| 2022 | $14.3B | $2.0B | 27.0% |
| 2023 | $10.7B | $1.4B | 26.9% |
| 2024 | $8.9B | $1.4B | 17.7% |
| 2025 | $8.7B | $1.5B | 13.1% |
Texas Pacific Land
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $451M | $249M | 80.4% |
| 2022 | $667M | $428M | 84.3% |
| 2023 | $632M | — | 77.0% |
| 2024 | $706M | — | 76.4% |
| 2025 | $798M | — | 74.2% |
Where the revenue comes from
Ovintiv · by segments, 2025
USA Operations$5.9B67%
Canadian Operations$2.9B33%
Texas Pacific Land · by segments, 2025
LRM$491M61%
WSO$307M39%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open OVV in InvestinglyQuestions
Which is bigger, Ovintiv or Texas Pacific Land?
Texas Pacific Land (TPL), at $24.9B against $18.9B.
Is OVV or TPL cheaper?
By trailing P/E, Ovintiv (22.1x) is cheaper than Texas Pacific Land (49.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, OVV or TPL?
Texas Pacific Land: revenue grew +31.2% over the last year, against +29.7%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.