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Ovintiv vs SM Energy: OVV and SM compared

Ovintiv is the larger company: $2.6B of revenue in its latest quarter (Q3 2026) against $2.2B for SM Energy (Q3 2026). SM Energy is growing faster (+167% against +26% a year earlier). Ovintiv is more profitable, with an operating margin of 33.7% against 10.9%.

Ovintiv vs SM Energy, latest quarterOvintiv vs SM Energy, latest quarterOvintiv (OVV)SM Energy (SM)Revenue$2.6B$2.2BRevenue growth, Y/Y+26%+167%Operating margin33.7%10.9%Net margin21.1%4.3%Free cash flow$507M$411M

Where the money goes: OVV and SM

Ovintiv (OVV) · Q3 2026

Ovintiv, Q3 2026: revenue $2.6B (+26% year over year), operating margin 33.7%, net earnings $549M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.

SM Energy (SM) · Q3 2026

SM Energy, Q3 2026: revenue $2.2B (+167% year over year), operating margin 10.9%, net earnings $93.0M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.

SM Energy revenue by segment, Q3 2026SM Energy revenue by segment, Q3 2026Crude Oil$1.8BNatural Gas$209MNatural Gas Liquids (NGL)$135MOther revenues$10.0M
Ovintiv (OVV)SM Energy (SM)
Latest quarterQ3 2026Q3 2026
Revenue$2.6B$2.2B
Revenue growth, Y/Y+26%+167%
Operating margin33.7%10.9%
Net earnings$549M$93.0M
Net margin21.1%4.3%
Operating cash flow$1.1B$1.1B
Free cash flow$507M$411M
Market value$16.8B$7.2B
P/E12.4×7.3×
Analysts’ mean target$81.43$45.39

Where the revenue comes from

SM Energy

Questions

Which is bigger, Ovintiv or SM Energy?

Ovintiv is the larger company: $2.6B of revenue in its latest quarter (Q3 2026) against $2.2B for SM Energy (Q3 2026).

Is Ovintiv or SM Energy growing faster?

SM Energy is growing faster (+167% against +26% a year earlier).

Which is more profitable, Ovintiv or SM Energy?

Ovintiv is more profitable, with an operating margin of 33.7% against 10.9%.

More: Ovintiv earnings · how Ovintiv makes money · SM Energy earnings · how SM Energy makes money

From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.