OMV Aktiengesellschaft (OMVJF)
Fair ValueFundamental
86
Price
$71.40
Market Cap
$23.90B
Part 1 · What the company is worth
Overview
OMV is an Austrian energy and chemicals group that pumps oil and gas out of the ground, refines crude into fuels at plants in Austria, Germany and Romania, and turns some of that output into plastics and other chemicals. It is present across the whole chain from exploration to the pump and the plastics factory, with its oil-and-gas production centered in Central and Eastern Europe alongside interests in the Middle East, Africa and the North Sea.
How it makes money
Revenue comes from selling crude oil and gas production, refined fuels and petrochemical products at prices set on global commodity markets, so profit depends on the margin between input costs — crude, natural gas, CO2 emission certificates — and what the finished products fetch, a margin the company calls volatile rather than one it controls. OMV reports operating results by its Energy, Fuels & Feedstock and Chemicals businesses, but does not publish a clean external-sales split between them.
Competitive moat
Scale · NarrowOwning refineries in three countries alongside its own oil-and-gas production and downstream chemicals gives OMV a vertically integrated footprint that a pure refiner or pure producer lacks, letting it capture margin at more than one stage of the chain. That integration is a scale advantage within Central Europe, but it does not protect the company from the commodity price swings that set the price of everything it produces.
What drives demand
CyclicalOMV states that it has significant exposure to oil, natural gas and chemicals prices, and that refining and chemicals margins in particular are volatile — results move with global energy and industrial-chemicals cycles rather than with a steady consumption pattern.
Key risks
- Commodity price volatility — The company has significant exposure to oil, natural gas and chemicals prices, plus volatile refining and chemicals margins and CO2 emission certificate costs, all of which move independently of anything OMV does.
- Geopolitical exposure tied to Russia — OMV regularly assesses risks from Russia's war against Ukraine, including further sanctions, changes in Russian commodity flows, and disruption to supply chains — a legacy of long-standing gas supply contracts with Russia.
- Political and regulatory risk — The company names political and regulatory changes among the main uncertainties that can influence its performance, alongside the commodity and currency risks inherent to its business.
- Cyberattacks on infrastructure — OMV warns that a growing threat of physical and cyber-based hybrid attacks poses a risk to its IT and operational technology infrastructure and to operational security.
The case for
Buyers argue that integration across exploration, refining and chemicals lets OMV capture margin wherever it appears in the value chain instead of depending on a single stage, and that a diversified geographic base across Central and Eastern Europe, the Middle East, Africa and the North Sea spreads out political and operational risk.
The case against
Sellers fear that results ultimately hinge on volatile global oil, gas and chemicals prices the company does not control, that long-standing gas ties to Russia leave OMV exposed to sanctions and supply disruption from a war it has no influence over, and that growing cyber and hybrid-warfare threats add a newer layer of operational risk.
Written by the editors, published on August 18, 2026
Direct competitors
Who this company fights with for the same customers
Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users
Competes with OMV across the whole chain in Europe: gas and LNG supply to industrial and wholesale buyers, refining and service-station fuel sales, and petrochemical volumes sold to the same converters.
The closest regional peer to OMV: an integrated Central European group with upstream production, Danube-basin refining and about 2,400 service stations competing for the same fuel and petrochemical customers in Austria, Hungary, Slovakia, Romania and the Balkans.
The largest refiner in Central and Eastern Europe, competing with OMV in refining and in fuel retail in the same countries — including Austria itself, where it runs the Turmöl network, plus the Czech Republic, Slovakia and Germany.
A southern European integrated oil and gas company of comparable shape — upstream, refining, fuel retail and gas supply — competing with OMV for European gas and fuel customers and for the same exploration acreage in North Africa and the Middle East.
A mid-sized European integrated group with the same three-legged model of production, refining and chemicals, competing with OMV in European polyolefins and low-carbon fuels such as sustainable aviation fuel.
A direct rival of OMV's chemicals arm rather than of its fuel business: it sells polyethylene and polypropylene to the same European packaging, automotive and pipe customers that OMV supplies through its Borealis-derived polyolefin capacity.
Balance Sheet & Liquidity
Revenue
$26.18B
Trailing 12 months to the last reported quarter — estimated from per-share metrics
Net Income
$2.65B
Trailing 12 months to the last reported quarter — estimated from per-share metrics
Free Cash Flow
$7.46B
Total Equity
$15.13B
Total Liabilities
$8.00B
Current Ratio
1.22
Interest Coverage
-
Debt/EBITDA
1.37
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$61.02
Current Price
$71.40
Margin of Safety
-17.0%
Fair Value Range
$52.59 - $69.46
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
8.80
ROE
8.8%
P/B Ratio
1.30
P/FCF
3.20
Gross Margin
33.8%
ROIC
13.0%
Profitability Radar
Value Creation (Economic Moat)
ROIC
13.0%
WACC
8.9%
ROIC − WACC
+4.1 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (17)
- Price CAGR 8.21%
- ROIC 13.0%
- Gross Margin 33.8%
- P/FCF 3.20
- P/B Ratio 1.30
- Debt/Equity ratio
- Operating Margin 12.2%
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Price below Graham Number
- DCF valuation (Undervalued)
- ROE 15.8%
- Revenue Growth 5Y 8.0%
- Earnings Surprise avg 6.4%
- Earnings Quality (OCF/NI) 4.78
- Net Margin Trend 4.0% vs 4.0%
Failed (3)
- CapEx intensity
- Analyst Consensus 23% Buy
- Piotroski F-Score 2/9
Unavailable (7)
- EPS data insufficient
- Dividend Payout NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- PEG Ratio (need PE > 0 and growth > 0)
- Share Dilution (missing shares data)
Piotroski F-Score
Serious financial concerns
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
No institutional filings reported for this company.
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Reinhard Florey | CFO & Deputy Chairman of Executive Board | 60 |
| Mr. Martijn Arjen van Koten | Executive VP of New Fuels & Chemicals and Member of the Executive Board | 55 |
| Dr. Berislav Gaso Ph.D. | Executive VP of Energy & Member of Executive Board | 51 |
| Mr. Daniel Turnheim | Senior Vice President of Corporate Finance | 50 |
| Mr. Florian Greger | Senior VP and Head of Investor Relations & Sustainability | - |
| Ms. Magdalena Moll | Senior Vice President of Corporate Affairs | 63 |
Audit Risk
1
Board Risk
2
Compensation Risk
2
Shareholder Rights Risk
6
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Latest News
Recent headlines for OMVJF, sourced from Markets Gazette.