• Ovintiv average operating margin for 2023 was 30.06%, a 17.84% decline from 2022.
• Ovintiv average operating margin for 2022 was 25.51%, a 175.45% increase from 2021.
• Ovintiv average operating margin for 2021 was -33.81%, a 29.71% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.