Comprehensive Stock Comparison
Compare Devon Energy Corporation (DVN) vs ConocoPhillips (COP) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | DVN | 10.4% revenue growth vs COP's 9.3% |
| Value | DVN | Lower P/E (13.5x vs 23.0x) |
| Quality / Margins | DVN | 15.9% net margin vs COP's 13.3% |
| Stability / Safety | COP | Beta 0.99 vs DVN's 1.24, lower leverage |
| Dividends | COP | 2.9% yield, 1-year raise streak, vs DVN's 2.3% |
| Momentum (1Y) | DVN | +22.8% vs COP's +17.7% |
| Efficiency (ROA) | DVN | 8.4% ROA vs COP's 6.5%, ROIC 12.3% vs 10.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Devon Energy is an independent oil and gas exploration and production company focused on U.S. onshore basins. It generates revenue primarily from crude oil sales (roughly 60% of total), with natural gas and natural gas liquids making up the remainder. The company's competitive advantage lies in its high-quality, low-cost asset portfolio concentrated in premier U.S. shale plays like the Delaware Basin.
ConocoPhillips is a global independent exploration and production company that finds, produces, and sells crude oil, natural gas, and natural gas liquids. It generates revenue primarily from selling hydrocarbons produced from its diverse portfolio — including unconventional shale plays in North America, conventional assets worldwide, and oil sands in Canada — with no refining or marketing operations. The company's competitive advantage lies in its low-cost position, large-scale resource base, and operational expertise across multiple geographies and resource types.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
COP leads in 4 of 6 categories (Financial Metrics, Total Returns). DVN leads in 2 (Valuation Metrics, Profitability & Efficiency).
Financial Metrics (TTM)
COP is the larger business by revenue, generating $59.7B annually — 3.6x DVN's $16.6B. Profitability is closely matched — net margins range from 15.9% (DVN) to 13.3% (COP). On growth, COP holds the edge at -0.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DVNDevon Energy Corp… | COPConocoPhillips |
|---|---|---|
| RevenueTrailing 12 months | $16.6B | $59.7B |
| EBITDAEarnings before interest/tax | $6.9B | $23.2B |
| Net IncomeAfter-tax profit | $2.6B | $7.9B |
| Free Cash FlowCash after capex | $3.0B | $16.8B |
| Gross MarginGross profit ÷ Revenue | +22.7% | +35.2% |
| Operating MarginEBIT ÷ Revenue | +19.8% | +19.8% |
| Net MarginNet income ÷ Revenue | +15.9% | +13.3% |
| FCF MarginFCF ÷ Revenue | +18.4% | +28.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -6.3% | -0.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -9.1% | -38.4% |
Valuation Metrics
At 10.4x trailing earnings, DVN trades at a 42% valuation discount to COP's 17.9x P/E. On an enterprise value basis, DVN's 4.6x EV/EBITDA is more attractive than COP's 6.7x.
| Metric | DVNDevon Energy Corp… | COPConocoPhillips |
|---|---|---|
| Market CapShares × price | $27.0B | $139.0B |
| Enterprise ValueMkt cap + debt − cash | $34.3B | $156.0B |
| Trailing P/EPrice ÷ TTM EPS | 10.36x | 17.90x |
| Forward P/EPrice ÷ next-FY EPS est. | 13.50x | 23.03x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 4.63x | 6.71x |
| Price / SalesMarket cap ÷ Revenue | 1.57x | 2.33x |
| Price / BookPrice ÷ Book value/share | 1.76x | 2.11x |
| Price / FCFMarket cap ÷ FCF | 8.66x | 8.29x |
Profitability & Efficiency
DVN delivers a 17.0% return on equity — every $100 of shareholder capital generates $17 in annual profit, vs $12 for COP. COP carries lower financial leverage with a 0.36x debt-to-equity ratio, signaling a more conservative balance sheet compared to DVN's 0.57x. On the Piotroski fundamental quality scale (0–9), COP scores 7/9 vs DVN's 5/9, reflecting strong financial health.
| Metric | DVNDevon Energy Corp… | COPConocoPhillips |
|---|---|---|
| ROE (TTM)Return on equity | +17.0% | +12.3% |
| ROA (TTM)Return on assets | +8.4% | +6.5% |
| ROICReturn on invested capital | +12.3% | +10.7% |
| ROCEReturn on capital employed | +13.8% | +10.7% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 |
| Debt / EquityFinancial leverage | 0.57x | 0.36x |
| Net DebtTotal debt minus cash | $7.3B | $16.9B |
| Cash & Equiv.Liquid assets | $1.4B | $6.5B |
| Total DebtShort + long-term debt | $8.8B | $23.4B |
| Interest CoverageEBIT ÷ Interest expense | 7.42x | 11.99x |
Total Returns (with DRIP)
A $10,000 investment in DVN five years ago would be worth $24,978 today (with dividends reinvested), compared to $24,904 for COP. Over the past 12 months, DVN leads with a +22.8% total return vs COP's +17.7%. The 3-year compound annual growth rate (CAGR) favors COP at 6.3% vs DVN's -3.3% — a key indicator of consistent wealth creation.
| Metric | DVNDevon Energy Corp… | COPConocoPhillips |
|---|---|---|
| YTD ReturnYear-to-date | +14.9% | +18.2% |
| 1-Year ReturnPast 12 months | +22.8% | +17.7% |
| 3-Year ReturnCumulative with dividends | -9.5% | +20.0% |
| 5-Year ReturnCumulative with dividends | +149.8% | +149.0% |
| 10-Year ReturnCumulative with dividends | +194.4% | +306.3% |
| CAGR (3Y)Annualised 3-year return | -3.3% | +6.3% |
Risk & Volatility
COP is the less volatile stock with a 0.99 beta — it tends to amplify market swings less than DVN's 1.24 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. COP currently trades 99.7% from its 52-week high vs DVN's 94.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | DVNDevon Energy Corp… | COPConocoPhillips |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.24x | 0.99x |
| 52-Week HighHighest price in past year | $46.15 | $113.80 |
| 52-Week LowLowest price in past year | $25.89 | $79.88 |
| % of 52W HighCurrent price vs 52-week peak | +94.3% | +99.7% |
| RSI (14)Momentum oscillator 0–100 | 54.7 | 62.7 |
| Avg Volume (50D)Average daily shares traded | 8.6M | 7.0M |
Analyst Outlook
Wall Street rates DVN as "Buy" and COP as "Buy". Consensus price targets imply 9.8% upside for DVN (target: $48) vs 2.9% for COP (target: $117). For income investors, COP offers the higher dividend yield at 2.94% vs DVN's 2.26%.
| Metric | DVNDevon Energy Corp… | COPConocoPhillips |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $47.78 | $116.79 |
| # AnalystsCovering analysts | 63 | 52 |
| Dividend YieldAnnual dividend ÷ price | +2.3% | +2.9% |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | $0.98 | $3.34 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.9% | +3.6% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Devon Energy Corpor… (DVN) | 100 | 254.21 | +154.2% |
| ConocoPhillips (COP) | 100 | 211.53 | +111.5% |
Devon Energy Corpor… (DVN) returned +150% over 5 years vs ConocoPhillips (COP)'s +149%. A $10,000 investment in DVN 5 years ago would be worth $24,978 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Devon Energy Corpor… (DVN) | $10.5B | $17.2B | +63.4% |
| ConocoPhillips (COP) | $23.9B | $59.7B | +149.8% |
Devon Energy Corporation's revenue grew from $10.5B (2016) to $17.2B (2025) — a 5.6% CAGR. ConocoPhillips's revenue grew from $23.9B (2016) to $59.7B (2025) — a 10.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Devon Energy Corpor… (DVN) | -31.4% | 15.4% | +149.0% |
| ConocoPhillips (COP) | -15.1% | 13.3% | +187.8% |
Devon Energy Corporation's net margin went from -31% (2016) to 15% (2025). ConocoPhillips's net margin went from -15% (2016) to 13% (2025).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Devon Energy Corpor… (DVN) | 24.4 | 8.7 | -64.3% |
| ConocoPhillips (COP) | 11.7 | 14.8 | +26.5% |
Devon Energy Corporation has traded in a 4x–24x P/E range over 7 years; current trailing P/E is ~10x. ConocoPhillips has traded in a 8x–15x P/E range over 7 years; current trailing P/E is ~18x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Devon Energy Corpor… (DVN) | -6.44 | 4.2 | +165.2% |
| ConocoPhillips (COP) | -2.9 | 6.34 | +318.6% |
Devon Energy Corporation's EPS grew from $-6.44 (2016) to $4.20 (2025). ConocoPhillips's EPS grew from $-2.90 (2016) to $6.34 (2025).
Chart 6Free Cash Flow — 5 Years
Devon Energy Corporation generated $3B FCF in 2025 (+8% vs 2021). ConocoPhillips generated $17B FCF in 2025 (+44% vs 2021).
DVN vs COP: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is DVN or COP a better buy right now?
Devon Energy Corporation (DVN) offers the better valuation at 10.4x trailing P/E (13.5x forward), making it the more compelling value choice. Analysts rate Devon Energy Corporation (DVN) a "Buy" — based on 63 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — DVN or COP?
On trailing P/E, Devon Energy Corporation (DVN) is the cheapest at 10.4x versus ConocoPhillips at 17.9x. On forward P/E, Devon Energy Corporation is actually cheaper at 13.5x.
03Which is the better long-term investment — DVN or COP?
Over the past 5 years, Devon Energy Corporation (DVN) delivered a total return of +149.8%, compared to +149.0% for ConocoPhillips (COP). A $10,000 investment in DVN five years ago would be worth approximately $25K today (assuming dividends reinvested). Over 10 years, the gap is even starker: COP returned +306.3% versus DVN's +194.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — DVN or COP?
By beta (market sensitivity over 5 years), ConocoPhillips (COP) is the lower-risk stock at 0.99β versus Devon Energy Corporation's 1.24β — meaning DVN is approximately 26% more volatile than COP relative to the S&P 500. On balance sheet safety, ConocoPhillips (COP) carries a lower debt/equity ratio of 36% versus 57% for Devon Energy Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — DVN or COP?
Devon Energy Corporation (DVN) is the more profitable company, earning 15.4% net margin versus 13.3% for ConocoPhillips — meaning it keeps 15.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: DVN leads at 22.0% versus 19.8% for COP. At the gross margin level — before operating expenses — COP leads at 35.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is DVN or COP more undervalued right now?
On forward earnings alone, Devon Energy Corporation (DVN) trades at 13.5x forward P/E versus 23.0x for ConocoPhillips — 9.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DVN: 9.8% to $47.78.
07Which pays a better dividend — DVN or COP?
All stocks in this comparison pay dividends. ConocoPhillips (COP) offers the highest yield at 2.9%, versus 2.3% for Devon Energy Corporation (DVN).
08Is DVN or COP better for a retirement portfolio?
For long-horizon retirement investors, ConocoPhillips (COP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.99), 2.9% yield, +306.3% 10Y return). Both have compounded well over 10 years (COP: +306.3%, DVN: +194.4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between DVN and COP?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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