Devon Energy Corporation (DVN) 10-Year Financial Performance & Capital Metrics

DVN •

EnergyOil & Gas E&PU.S. shale oil focused producers

AboutDevon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.Show more

Revenue $17.19B +10.4%
EBITDA $7.42B +5.1%
Net Income $2.64B -8.6%
EPS (Diluted) 4.20 -8.1%
Gross Margin 24.62% -10.3%
EBITDA Margin 43.2% -4.8%
Operating Margin 21.96% -9.3%
Net Margin 15.37% -17.2%
ROE 17.48% -18.6%
ROIC 12.33% -11.0%
Debt/Equity 0.57 -9.6%
Interest Coverage 7.39 -21.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 23.6%
✓FCF machine: 18.1% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 31.6%
✓Healthy dividend yield of 2.3%
✓Healthy 5Y average net margin of 21.9%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y8.22%

5Y31.62%

3Y-4.65%

TTM6.7%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-23.99%

TTM-8.61%

EPS CAGR

10Y-

5Y-

3Y-22.78%

TTM-8.75%

ROCE

10Y Avg13.89%

5Y Avg26.6%

3Y Avg17.34%

Latest13.8%

Peer Comparison

U.S. shale oil focused producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CHRDChord Energy Corporation	6.15B	108.37	146.45	-7.12%	9.07%	5.48%	11.26%	0.19
FANGDiamondback Energy, Inc.	49.54B	174.08	30.38	36.31%	11.11%	3.87%	10.57%	0.34
MGYMagnolia Oil & Gas Corporation	153.01M	27.82	14.34	7.25%	24.79%	5.49%	100%	0.21
PRPermian Resources Corporation	1.54B	18.29	14.29	-100%	24%	8.11%	100%	0.01
EOGEOG Resources, Inc.	67.33B	124.08	13.62	-3.47%	22.07%	16.69%	5.84%	0.28
OVVOvintiv Inc.	12.81B	50.59	10.58	-4.55%	14.13%	11.09%	11.74%	0.67
DVNDevon Energy Corporation	27B	43.53	10.36	10.41%	15.91%	17.01%	11.55%	0.57
MTDRMatador Resources Company	6.46B	51.40	8.44	6.25%	20.55%	12.66%	37.51%	0.35

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	10.52B	8.82B	8.44B	6.67B	4.35B	13.75B	19.83B	15.14B	15.57B	17.19B
Revenue Growth %	34.83%	-16.12%	-4.34%	-20.91%	-34.81%	216.02%	44.2%	-23.64%	2.82%	10.41%
Cost of Goods Sold+	9.64B	7.41B	6.83B	5.56B	4.6B	8.54B	10.85B	9.94B	11.3B	12.89B
COGS % of Revenue	91.7%	84.03%	80.93%	83.37%	105.79%	62.12%	54.74%	65.65%	72.57%	75.02%
Gross Profit+	873M	1.41B	1.61B	1.11B	-252M	5.21B	8.97B	5.2B	4.27B	4.23B
Gross Margin %	8.3%	15.97%	19.07%	16.63%	-5.79%	37.88%	45.26%	34.35%	27.43%	24.62%
Gross Profit Growth %	122.66%	61.4%	14.19%	-31.01%	-122.7%	2167.06%	72.26%	-42.05%	-17.88%	-0.91%
Operating Expenses+	865M	737M	574M	475M	338M	391M	395M	408M	500M	456M
OpEx % of Revenue	8.22%	8.35%	6.8%	7.12%	7.77%	2.84%	1.99%	2.69%	3.21%	2.65%
Selling, General & Admin	865M	737M	574M	475M	338M	391M	395M	408M	500M	6.05B
SG&A % of Revenue	8.22%	8.35%	6.8%	7.12%	7.77%	2.84%	1.99%	2.69%	3.21%	35.23%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	-5.6B
Operating Income+	8M	672M	1.03B	635M	-590M	4.82B	8.58B	4.79B	3.77B	3.77B
Operating Margin %	0.08%	7.62%	12.26%	9.51%	-13.56%	35.04%	43.26%	31.65%	24.22%	21.96%
Operating Income Growth %	100.15%	8300%	54.02%	-38.65%	-192.91%	916.61%	78.04%	-44.14%	-21.33%	0.13%
EBITDA+	2.29B	2.48B	2.36B	2.15B	862M	6.98B	10.84B	7.38B	7.06B	7.42B
EBITDA Margin %	21.79%	28.11%	27.94%	32.21%	19.81%	50.76%	54.66%	48.71%	45.38%	43.2%
EBITDA Growth %	212.13%	8.2%	-4.92%	-8.82%	-59.91%	709.74%	55.27%	-31.95%	-4.22%	5.11%
D&A (Non-Cash Add-back)	2.28B	1.81B	1.32B	1.51B	1.45B	2.16B	2.26B	2.58B	3.29B	3.65B
EBIT	-410M	1.09B	1.21B	141M	-2.81B	3.26B	8.12B	4.99B	4.14B	3.77B
Net Interest Income+	-427M	-337M	-268M	-250M	-270M	-359M	-309M	-308M	-363M	-455M
Interest Income	0	0	0	0	12M	2M	38M	55M	38M	56M
Interest Expense	427M	337M	594M	250M	282M	361M	347M	363M	401M	511M
Other Income/Expense	-1.32B	101M	-91M	-744M	-2.5B	-1.92B	-803M	-169M	-58M	-309M
Pretax Income+	-3.88B	896M	920M	-109M	-3.09B	2.9B	7.78B	4.62B	3.71B	3.47B
Pretax Margin %	-36.86%	10.16%	10.9%	-1.63%	-71.02%	21.08%	39.21%	30.54%	23.85%	20.17%
Income Tax+	-173M	-182M	156M	-30M	-547M	65M	1.74B	841M	770M	785M
Effective Tax Rate %	85.17%	100.22%	333.04%	327.52%	86.86%	96.03%	77.36%	81.05%	77.88%	76.23%
Net Income+	-3.3B	898M	3.06B	-357M	-2.68B	2.78B	6.01B	3.75B	2.89B	2.64B
Net Margin %	-31.39%	10.18%	36.31%	-5.35%	-61.69%	20.24%	30.34%	24.75%	18.57%	15.37%
Net Income Growth %	77.16%	127.2%	241.2%	-111.65%	-651.82%	203.69%	116.13%	-37.71%	-22.84%	-8.61%
Net Income (Continuing)	-1.46B	33M	714M	-79M	-2.54B	2.83B	6.04B	3.78B	2.94B	2.68B
Discontinued Operations	-884M	1.04B	2.51B	-276M	-128M	0	0	0	0	0
Minority Interest	4.45B	4.85B	0	118M	134M	137M	129M	156M	208M	0
EPS (Diluted)+	-6.44	1.70	6.10	-0.20	-7.12	4.18	9.12	5.84	4.57	4.20
EPS Growth %	81.64%	126.4%	258.82%	-103.28%	-3460%	158.71%	118.18%	-35.96%	-21.75%	-8.1%
EPS (Basic)	-6.51	1.71	6.14	-0.20	-7.12	4.20	9.15	5.86	4.57	4.21
Diluted Shares Outstanding	513M	528M	502M	401M	377M	665M	653M	642M	623M	629M
Basic Shares Outstanding	507M	525M	499M	401M	377M	663M	651M	639M	623M	628M
Dividend Payout Ratio	-	14.14%	4.86%	-	-	47.25%	56.18%	49.59%	32.41%	23.43%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	3.77B	4.79B	4.44B	3.85B	3.26B	4.25B	3.89B	3.16B	3.43B	4.01B
Cash & Short-Term Investments	1.96B	2.64B	2.41B	1.46B	2.05B	2.1B	1.45B	875M	846M	1.43B
Cash Only	1.96B	2.64B	2.41B	1.46B	2.05B	2.1B	1.45B	875M	846M	1.43B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.36B	960M	802M	879M	775M	1.54B	1.77B	1.57B	1.97B	1.79B
Days Sales Outstanding	47.06	39.72	34.69	48.07	65.01	40.96	32.53	37.92	46.24	38.05
Inventory	0	0	0	0	0	114M	201M	249M	294M	336M
Days Inventory Outstanding	-	-	-	-	-	4.87	6.76	9.14	9.5	9.51
Other Current Assets	457M	1.16B	1.21B	1.51B	438M	493M	469M	460M	315M	444M
Total Non-Current Assets+	22.14B	25.45B	15.13B	9.87B	6.65B	16.78B	19.83B	21.33B	27.06B	27.59B
Property, Plant & Equipment	20.53B	14.58B	8.46B	8.84B	5.62B	15.24B	18.33B	19.59B	25.31B	24.03B
Fixed Asset Turnover	0.51x	0.60x	1.00x	0.76x	0.77x	0.90x	1.08x	0.77x	0.61x	0.72x
Goodwill	2.38B	841M	753M	753M	753M	753M	753M	753M	753M	753M
Intangible Assets	1.62B	1.5B	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	12M	402M	440M	666M	727M	727M
Other Non-Current Assets	363M	10.03B	5.91B	277M	271M	378M	307M	319M	268M	2.08B
Total Assets+	25.91B	30.24B	19.57B	13.72B	9.91B	21.02B	23.72B	24.49B	30.49B	31.6B
Asset Turnover	0.41x	0.29x	0.43x	0.49x	0.44x	0.65x	0.84x	0.62x	0.51x	0.54x
Asset Growth %	-12.25%	16.7%	-35.3%	-29.89%	-27.74%	112.12%	12.82%	3.24%	24.5%	3.64%
Total Current Liabilities+	2.62B	3.31B	2.23B	1.93B	1.44B	3.09B	3.1B	2.95B	3.31B	4.09B
Accounts Payable	642M	1.38B	530M	428M	242M	500M	859M	760M	806M	2.28B
Days Payables Outstanding	24.3	68	28.32	28.08	19.19	21.37	28.89	27.91	26.04	64.56
Short-Term Debt	0	115M	162M	0	0	0	251M	483M	485M	998M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	655M	1.58B	732M	769M	536M	1.13B	489M	484M	586M	807M
Current Ratio	1.44x	1.45x	1.99x	2.00x	2.26x	1.38x	1.25x	1.07x	1.04x	0.98x
Quick Ratio	1.44x	1.45x	1.99x	2.00x	2.26x	1.34x	1.19x	0.99x	0.95x	0.90x
Cash Conversion Cycle	-	-	-	-	-	24.46	10.4	19.16	29.7	-17
Total Non-Current Liabilities+	12.92B	12.82B	8.15B	5.87B	5.45B	8.54B	9.32B	9.32B	12.48B	11.98B
Long-Term Debt	10.15B	6.75B	4.29B	4.29B	4.3B	6.48B	6.19B	5.67B	8.4B	7.59B
Capital Lease Obligations	0	0	0	244M	246M	252M	257M	295M	320M	197M
Deferred Tax Liabilities	648M	835M	877M	341M	0	287M	1.46B	1.84B	2.15B	2.63B
Other Non-Current Liabilities	2.12B	6.07B	3.86B	991M	909M	1.52B	1.41B	1.52B	1.61B	1.57B
Total Liabilities	15.54B	16.14B	10.38B	7.8B	6.89B	11.63B	12.43B	12.27B	15.79B	16.07B
Total Debt+	10.15B	6.86B	4.45B	4.54B	4.54B	6.73B	6.7B	6.45B	9.2B	8.78B
Net Debt	8.2B	4.22B	2.04B	3.07B	2.5B	4.63B	5.24B	5.58B	8.36B	7.35B
Debt / Equity	0.98x	0.49x	0.48x	0.77x	1.51x	0.72x	0.59x	0.53x	0.63x	0.57x
Debt / EBITDA	4.43x	2.77x	1.89x	2.11x	5.27x	0.96x	0.62x	0.87x	1.30x	1.18x
Net Debt / EBITDA	3.58x	1.70x	0.87x	1.43x	2.90x	0.66x	0.48x	0.76x	1.18x	0.99x
Interest Coverage	0.02x	1.99x	1.74x	2.54x	-2.09x	13.35x	24.72x	13.20x	9.40x	7.39x
Total Equity+	10.38B	14.1B	9.19B	5.92B	3.02B	9.4B	11.3B	12.22B	14.7B	15.53B
Equity Growth %	-5.59%	35.94%	-34.87%	-35.55%	-49%	211.33%	20.18%	8.15%	20.36%	5.6%
Book Value per Share	20.22	26.71	18.30	14.76	8.01	14.13	17.30	19.03	23.60	24.69
Total Shareholders' Equity	5.93B	9.25B	9.19B	5.8B	2.88B	9.26B	11.17B	12.06B	14.5B	15.53B
Common Stock	52M	53M	45M	38M	38M	66M	65M	64M	65M	62M
Retained Earnings	-1.65B	702M	3.65B	3.15B	208M	1.69B	4.3B	6.2B	8.17B	10.2B
Treasury Stock	0	0	-22M	0	0	0	0	-13M	0	0
Accumulated OCI	284M	1.17B	1.03B	-119M	-127M	-132M	-116M	-124M	-122M	-122M
Minority Interest	4.45B	4.85B	0	118M	134M	137M	129M	156M	208M	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	1.75B	2.91B	2.7B	2.07B	1.35B	4.9B	8.53B	6.54B	6.6B	6.71B
Operating CF Margin %	16.6%	32.97%	32.04%	31.03%	31.12%	35.63%	43.02%	43.22%	42.4%	39.04%
Operating CF Growth %	-67.56%	66.61%	-7.05%	-23.41%	-34.62%	261.82%	74.12%	-23.28%	0.86%	1.68%
Net Income	-3.7B	1.08B	3.22B	-353M	-2.67B	2.83B	6.04B	3.75B	2.94B	2.68B
Depreciation & Amortization	1.79B	2.07B	1.66M	1.95B	3.88B	3.56B	2.22B	2.58B	3.25B	3.6B
Stock-Based Compensation	194M	198M	161M	115M	88M	99M	88M	93M	99M	99M
Deferred Taxes	-273M	-294M	226M	-25M	-328M	49M	1.18B	376M	311M	484M
Other Non-Cash Items	3.71B	-128M	-750.66M	467M	481M	-1.52B	-771M	-111M	210M	-299M
Working Capital Changes	27M	-19M	-158M	-82M	-95M	-116M	-226M	-144M	-217M	151M
Change in Receivables	-176M	-284M	-69M	-3M	231M	-526M	-142M	191M	-170M	183M
Change in Inventory	343M	179M	0	57M	-236M	-539M	-152M	0	0	0
Change in Payables	-167M	105M	103M	-54M	-38M	539M	152M	0	0	25M
Cash from Investing+	-872M	-2.21B	1.05B	921M	-646M	-1.57B	-5.12B	-3.94B	-7.33B	-3.39B
Capital Expenditures	-3.69B	-2.81B	-2.45M	-1.94B	-1.16B	-2.01B	-5.13B	-3.95B	-3.81B	-3.59B
CapEx % of Revenue	35.06%	31.8%	0.03%	29.08%	26.68%	14.6%	25.85%	26.07%	24.46%	20.9%
Acquisitions	3.28B	426M	500M	506M	41M	319M	39M	0	147M	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-465M	-21M	557.45M	2.36B	474M	-1.85B	0	58M	-3.55B	261M
Cash from Financing+	-1.16B	9M	-4.2B	-3.64B	-306M	-3.29B	-4.21B	-3.18B	706M	-2.73B
Debt Issued (Net)	-2.89B	0	-922M	-162M	0	-1.24B	0	-242M	2.75B	-767M
Equity Issued (Net)	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-221M	-127M	-149M	-140M	-257M	-1.31B	-3.38B	-1.86B	-937M	-619M
Share Repurchases	0	-46M	-2.96B	-1.85B	-38M	-589M	-718M	-979M	-1.06B	-1.05B
Other Financing	-414M	182M	-176M	-1.46B	-11M	-145M	-116M	-105M	-47M	-294M
Net Change in Cash	-351M	714M	-238M	-602M	393M	34M	-817M	-579M	-29M	588M
Free Cash Flow+	-2.23B	104M	198M	130M	193M	2.89B	3.4B	2.6B	-853M	3.12B
FCF Margin %	-21.15%	1.18%	2.35%	1.95%	4.44%	21.03%	17.17%	17.15%	-5.48%	18.15%
FCF Growth %	-115.6%	104.67%	90.38%	-34.34%	48.46%	1398.45%	17.74%	-23.73%	-132.85%	465.65%
FCF per Share	-4.34	0.20	0.39	0.32	0.51	4.35	5.21	4.05	-1.37	4.96
FCF Conversion (FCF/Net Income)	-0.53x	3.24x	0.88x	-5.80x	-0.50x	1.76x	1.42x	1.75x	2.28x	2.54x
Interest Paid	0	481M	385M	308M	259M	0	370M	378M	366M	0
Taxes Paid	0	78M	40M	6M	171M	0	438M	400M	480M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-30.91%	7.34%	26.31%	-4.73%	-60.05%	44.82%	58.13%	31.87%	21.48%	17.48%
Return on Invested Capital (ROIC)	0.03%	2.73%	5.25%	4.71%	-6.1%	36.97%	42.09%	20.94%	13.84%	12.33%
Gross Margin	8.3%	15.97%	19.07%	16.63%	-5.79%	37.88%	45.26%	34.35%	27.43%	24.62%
Net Margin	-31.39%	10.18%	36.31%	-5.35%	-61.69%	20.24%	30.34%	24.75%	18.57%	15.37%
Debt / Equity	0.98x	0.49x	0.48x	0.77x	1.51x	0.72x	0.59x	0.53x	0.63x	0.57x
Interest Coverage	0.02x	1.99x	1.74x	2.54x	-2.09x	13.35x	24.72x	13.20x	9.40x	7.39x
FCF Conversion	-0.53x	3.24x	0.88x	-5.80x	-0.50x	1.76x	1.42x	1.75x	2.28x	2.54x
Revenue Growth	34.83%	-16.12%	-4.34%	-20.91%	-34.81%	216.02%	44.2%	-23.64%	2.82%	10.41%

US Stock Screener

...

Devon Energy Corporation (DVN) 10-Year Financial Performance & Capital Metrics

DVN •

EnergyOil & Gas E&PU.S. shale oil focused producers

Revenue $17.19B +10.4%
EBITDA $7.42B +5.1%
Net Income $2.64B -8.6%
EPS (Diluted) 4.20 -8.1%
Gross Margin 24.62% -10.3%
EBITDA Margin 43.2% -4.8%
Operating Margin 21.96% -9.3%
Net Margin 15.37% -17.2%
ROE 17.48% -18.6%
ROIC 12.33% -11.0%
Debt/Equity 0.57 -9.6%
Interest Coverage 7.39 -21.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 23.6%
✓FCF machine: 18.1% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 31.6%
✓Healthy dividend yield of 2.3%
✓Healthy 5Y average net margin of 21.9%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y8.22%

5Y31.62%

3Y-4.65%

TTM6.7%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-23.99%

TTM-8.61%

EPS CAGR

10Y-

5Y-

3Y-22.78%

TTM-8.75%

ROCE

10Y Avg13.89%

5Y Avg26.6%

3Y Avg17.34%

Latest13.8%

Peer Comparison

U.S. shale oil focused producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CHRDChord Energy Corporation	6.15B	108.37	146.45	-7.12%	9.07%	5.48%	11.26%	0.19
FANGDiamondback Energy, Inc.	49.54B	174.08	30.38	36.31%	11.11%	3.87%	10.57%	0.34
MGYMagnolia Oil & Gas Corporation	153.01M	27.82	14.34	7.25%	24.79%	5.49%	100%	0.21
PRPermian Resources Corporation	1.54B	18.29	14.29	-100%	24%	8.11%	100%	0.01
EOGEOG Resources, Inc.	67.33B	124.08	13.62	-3.47%	22.07%	16.69%	5.84%	0.28
OVVOvintiv Inc.	12.81B	50.59	10.58	-4.55%	14.13%	11.09%	11.74%	0.67
DVNDevon Energy Corporation	27B	43.53	10.36	10.41%	15.91%	17.01%	11.55%	0.57
MTDRMatador Resources Company	6.46B	51.40	8.44	6.25%	20.55%	12.66%	37.51%	0.35

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	10.52B	8.82B	8.44B	6.67B	4.35B	13.75B	19.83B	15.14B	15.57B	17.19B
Revenue Growth %	34.83%	-16.12%	-4.34%	-20.91%	-34.81%	216.02%	44.2%	-23.64%	2.82%	10.41%
Cost of Goods Sold+	9.64B	7.41B	6.83B	5.56B	4.6B	8.54B	10.85B	9.94B	11.3B	12.89B
COGS % of Revenue	91.7%	84.03%	80.93%	83.37%	105.79%	62.12%	54.74%	65.65%	72.57%	75.02%
Gross Profit+	873M	1.41B	1.61B	1.11B	-252M	5.21B	8.97B	5.2B	4.27B	4.23B
Gross Margin %	8.3%	15.97%	19.07%	16.63%	-5.79%	37.88%	45.26%	34.35%	27.43%	24.62%
Gross Profit Growth %	122.66%	61.4%	14.19%	-31.01%	-122.7%	2167.06%	72.26%	-42.05%	-17.88%	-0.91%
Operating Expenses+	865M	737M	574M	475M	338M	391M	395M	408M	500M	456M
OpEx % of Revenue	8.22%	8.35%	6.8%	7.12%	7.77%	2.84%	1.99%	2.69%	3.21%	2.65%
Selling, General & Admin	865M	737M	574M	475M	338M	391M	395M	408M	500M	6.05B
SG&A % of Revenue	8.22%	8.35%	6.8%	7.12%	7.77%	2.84%	1.99%	2.69%	3.21%	35.23%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	-5.6B
Operating Income+	8M	672M	1.03B	635M	-590M	4.82B	8.58B	4.79B	3.77B	3.77B
Operating Margin %	0.08%	7.62%	12.26%	9.51%	-13.56%	35.04%	43.26%	31.65%	24.22%	21.96%
Operating Income Growth %	100.15%	8300%	54.02%	-38.65%	-192.91%	916.61%	78.04%	-44.14%	-21.33%	0.13%
EBITDA+	2.29B	2.48B	2.36B	2.15B	862M	6.98B	10.84B	7.38B	7.06B	7.42B
EBITDA Margin %	21.79%	28.11%	27.94%	32.21%	19.81%	50.76%	54.66%	48.71%	45.38%	43.2%
EBITDA Growth %	212.13%	8.2%	-4.92%	-8.82%	-59.91%	709.74%	55.27%	-31.95%	-4.22%	5.11%
D&A (Non-Cash Add-back)	2.28B	1.81B	1.32B	1.51B	1.45B	2.16B	2.26B	2.58B	3.29B	3.65B
EBIT	-410M	1.09B	1.21B	141M	-2.81B	3.26B	8.12B	4.99B	4.14B	3.77B
Net Interest Income+	-427M	-337M	-268M	-250M	-270M	-359M	-309M	-308M	-363M	-455M
Interest Income	0	0	0	0	12M	2M	38M	55M	38M	56M
Interest Expense	427M	337M	594M	250M	282M	361M	347M	363M	401M	511M
Other Income/Expense	-1.32B	101M	-91M	-744M	-2.5B	-1.92B	-803M	-169M	-58M	-309M
Pretax Income+	-3.88B	896M	920M	-109M	-3.09B	2.9B	7.78B	4.62B	3.71B	3.47B
Pretax Margin %	-36.86%	10.16%	10.9%	-1.63%	-71.02%	21.08%	39.21%	30.54%	23.85%	20.17%
Income Tax+	-173M	-182M	156M	-30M	-547M	65M	1.74B	841M	770M	785M
Effective Tax Rate %	85.17%	100.22%	333.04%	327.52%	86.86%	96.03%	77.36%	81.05%	77.88%	76.23%
Net Income+	-3.3B	898M	3.06B	-357M	-2.68B	2.78B	6.01B	3.75B	2.89B	2.64B
Net Margin %	-31.39%	10.18%	36.31%	-5.35%	-61.69%	20.24%	30.34%	24.75%	18.57%	15.37%
Net Income Growth %	77.16%	127.2%	241.2%	-111.65%	-651.82%	203.69%	116.13%	-37.71%	-22.84%	-8.61%
Net Income (Continuing)	-1.46B	33M	714M	-79M	-2.54B	2.83B	6.04B	3.78B	2.94B	2.68B
Discontinued Operations	-884M	1.04B	2.51B	-276M	-128M	0	0	0	0	0
Minority Interest	4.45B	4.85B	0	118M	134M	137M	129M	156M	208M	0
EPS (Diluted)+	-6.44	1.70	6.10	-0.20	-7.12	4.18	9.12	5.84	4.57	4.20
EPS Growth %	81.64%	126.4%	258.82%	-103.28%	-3460%	158.71%	118.18%	-35.96%	-21.75%	-8.1%
EPS (Basic)	-6.51	1.71	6.14	-0.20	-7.12	4.20	9.15	5.86	4.57	4.21
Diluted Shares Outstanding	513M	528M	502M	401M	377M	665M	653M	642M	623M	629M
Basic Shares Outstanding	507M	525M	499M	401M	377M	663M	651M	639M	623M	628M
Dividend Payout Ratio	-	14.14%	4.86%	-	-	47.25%	56.18%	49.59%	32.41%	23.43%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	3.77B	4.79B	4.44B	3.85B	3.26B	4.25B	3.89B	3.16B	3.43B	4.01B
Cash & Short-Term Investments	1.96B	2.64B	2.41B	1.46B	2.05B	2.1B	1.45B	875M	846M	1.43B
Cash Only	1.96B	2.64B	2.41B	1.46B	2.05B	2.1B	1.45B	875M	846M	1.43B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.36B	960M	802M	879M	775M	1.54B	1.77B	1.57B	1.97B	1.79B
Days Sales Outstanding	47.06	39.72	34.69	48.07	65.01	40.96	32.53	37.92	46.24	38.05
Inventory	0	0	0	0	0	114M	201M	249M	294M	336M
Days Inventory Outstanding	-	-	-	-	-	4.87	6.76	9.14	9.5	9.51
Other Current Assets	457M	1.16B	1.21B	1.51B	438M	493M	469M	460M	315M	444M
Total Non-Current Assets+	22.14B	25.45B	15.13B	9.87B	6.65B	16.78B	19.83B	21.33B	27.06B	27.59B
Property, Plant & Equipment	20.53B	14.58B	8.46B	8.84B	5.62B	15.24B	18.33B	19.59B	25.31B	24.03B
Fixed Asset Turnover	0.51x	0.60x	1.00x	0.76x	0.77x	0.90x	1.08x	0.77x	0.61x	0.72x
Goodwill	2.38B	841M	753M	753M	753M	753M	753M	753M	753M	753M
Intangible Assets	1.62B	1.5B	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	12M	402M	440M	666M	727M	727M
Other Non-Current Assets	363M	10.03B	5.91B	277M	271M	378M	307M	319M	268M	2.08B
Total Assets+	25.91B	30.24B	19.57B	13.72B	9.91B	21.02B	23.72B	24.49B	30.49B	31.6B
Asset Turnover	0.41x	0.29x	0.43x	0.49x	0.44x	0.65x	0.84x	0.62x	0.51x	0.54x
Asset Growth %	-12.25%	16.7%	-35.3%	-29.89%	-27.74%	112.12%	12.82%	3.24%	24.5%	3.64%
Total Current Liabilities+	2.62B	3.31B	2.23B	1.93B	1.44B	3.09B	3.1B	2.95B	3.31B	4.09B
Accounts Payable	642M	1.38B	530M	428M	242M	500M	859M	760M	806M	2.28B
Days Payables Outstanding	24.3	68	28.32	28.08	19.19	21.37	28.89	27.91	26.04	64.56
Short-Term Debt	0	115M	162M	0	0	0	251M	483M	485M	998M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	655M	1.58B	732M	769M	536M	1.13B	489M	484M	586M	807M
Current Ratio	1.44x	1.45x	1.99x	2.00x	2.26x	1.38x	1.25x	1.07x	1.04x	0.98x
Quick Ratio	1.44x	1.45x	1.99x	2.00x	2.26x	1.34x	1.19x	0.99x	0.95x	0.90x
Cash Conversion Cycle	-	-	-	-	-	24.46	10.4	19.16	29.7	-17
Total Non-Current Liabilities+	12.92B	12.82B	8.15B	5.87B	5.45B	8.54B	9.32B	9.32B	12.48B	11.98B
Long-Term Debt	10.15B	6.75B	4.29B	4.29B	4.3B	6.48B	6.19B	5.67B	8.4B	7.59B
Capital Lease Obligations	0	0	0	244M	246M	252M	257M	295M	320M	197M
Deferred Tax Liabilities	648M	835M	877M	341M	0	287M	1.46B	1.84B	2.15B	2.63B
Other Non-Current Liabilities	2.12B	6.07B	3.86B	991M	909M	1.52B	1.41B	1.52B	1.61B	1.57B
Total Liabilities	15.54B	16.14B	10.38B	7.8B	6.89B	11.63B	12.43B	12.27B	15.79B	16.07B
Total Debt+	10.15B	6.86B	4.45B	4.54B	4.54B	6.73B	6.7B	6.45B	9.2B	8.78B
Net Debt	8.2B	4.22B	2.04B	3.07B	2.5B	4.63B	5.24B	5.58B	8.36B	7.35B
Debt / Equity	0.98x	0.49x	0.48x	0.77x	1.51x	0.72x	0.59x	0.53x	0.63x	0.57x
Debt / EBITDA	4.43x	2.77x	1.89x	2.11x	5.27x	0.96x	0.62x	0.87x	1.30x	1.18x
Net Debt / EBITDA	3.58x	1.70x	0.87x	1.43x	2.90x	0.66x	0.48x	0.76x	1.18x	0.99x
Interest Coverage	0.02x	1.99x	1.74x	2.54x	-2.09x	13.35x	24.72x	13.20x	9.40x	7.39x
Total Equity+	10.38B	14.1B	9.19B	5.92B	3.02B	9.4B	11.3B	12.22B	14.7B	15.53B
Equity Growth %	-5.59%	35.94%	-34.87%	-35.55%	-49%	211.33%	20.18%	8.15%	20.36%	5.6%
Book Value per Share	20.22	26.71	18.30	14.76	8.01	14.13	17.30	19.03	23.60	24.69
Total Shareholders' Equity	5.93B	9.25B	9.19B	5.8B	2.88B	9.26B	11.17B	12.06B	14.5B	15.53B
Common Stock	52M	53M	45M	38M	38M	66M	65M	64M	65M	62M
Retained Earnings	-1.65B	702M	3.65B	3.15B	208M	1.69B	4.3B	6.2B	8.17B	10.2B
Treasury Stock	0	0	-22M	0	0	0	0	-13M	0	0
Accumulated OCI	284M	1.17B	1.03B	-119M	-127M	-132M	-116M	-124M	-122M	-122M
Minority Interest	4.45B	4.85B	0	118M	134M	137M	129M	156M	208M	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	1.75B	2.91B	2.7B	2.07B	1.35B	4.9B	8.53B	6.54B	6.6B	6.71B
Operating CF Margin %	16.6%	32.97%	32.04%	31.03%	31.12%	35.63%	43.02%	43.22%	42.4%	39.04%
Operating CF Growth %	-67.56%	66.61%	-7.05%	-23.41%	-34.62%	261.82%	74.12%	-23.28%	0.86%	1.68%
Net Income	-3.7B	1.08B	3.22B	-353M	-2.67B	2.83B	6.04B	3.75B	2.94B	2.68B
Depreciation & Amortization	1.79B	2.07B	1.66M	1.95B	3.88B	3.56B	2.22B	2.58B	3.25B	3.6B
Stock-Based Compensation	194M	198M	161M	115M	88M	99M	88M	93M	99M	99M
Deferred Taxes	-273M	-294M	226M	-25M	-328M	49M	1.18B	376M	311M	484M
Other Non-Cash Items	3.71B	-128M	-750.66M	467M	481M	-1.52B	-771M	-111M	210M	-299M
Working Capital Changes	27M	-19M	-158M	-82M	-95M	-116M	-226M	-144M	-217M	151M
Change in Receivables	-176M	-284M	-69M	-3M	231M	-526M	-142M	191M	-170M	183M
Change in Inventory	343M	179M	0	57M	-236M	-539M	-152M	0	0	0
Change in Payables	-167M	105M	103M	-54M	-38M	539M	152M	0	0	25M
Cash from Investing+	-872M	-2.21B	1.05B	921M	-646M	-1.57B	-5.12B	-3.94B	-7.33B	-3.39B
Capital Expenditures	-3.69B	-2.81B	-2.45M	-1.94B	-1.16B	-2.01B	-5.13B	-3.95B	-3.81B	-3.59B
CapEx % of Revenue	35.06%	31.8%	0.03%	29.08%	26.68%	14.6%	25.85%	26.07%	24.46%	20.9%
Acquisitions	3.28B	426M	500M	506M	41M	319M	39M	0	147M	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-465M	-21M	557.45M	2.36B	474M	-1.85B	0	58M	-3.55B	261M
Cash from Financing+	-1.16B	9M	-4.2B	-3.64B	-306M	-3.29B	-4.21B	-3.18B	706M	-2.73B
Debt Issued (Net)	-2.89B	0	-922M	-162M	0	-1.24B	0	-242M	2.75B	-767M
Equity Issued (Net)	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-221M	-127M	-149M	-140M	-257M	-1.31B	-3.38B	-1.86B	-937M	-619M
Share Repurchases	0	-46M	-2.96B	-1.85B	-38M	-589M	-718M	-979M	-1.06B	-1.05B
Other Financing	-414M	182M	-176M	-1.46B	-11M	-145M	-116M	-105M	-47M	-294M
Net Change in Cash	-351M	714M	-238M	-602M	393M	34M	-817M	-579M	-29M	588M
Free Cash Flow+	-2.23B	104M	198M	130M	193M	2.89B	3.4B	2.6B	-853M	3.12B
FCF Margin %	-21.15%	1.18%	2.35%	1.95%	4.44%	21.03%	17.17%	17.15%	-5.48%	18.15%
FCF Growth %	-115.6%	104.67%	90.38%	-34.34%	48.46%	1398.45%	17.74%	-23.73%	-132.85%	465.65%
FCF per Share	-4.34	0.20	0.39	0.32	0.51	4.35	5.21	4.05	-1.37	4.96
FCF Conversion (FCF/Net Income)	-0.53x	3.24x	0.88x	-5.80x	-0.50x	1.76x	1.42x	1.75x	2.28x	2.54x
Interest Paid	0	481M	385M	308M	259M	0	370M	378M	366M	0
Taxes Paid	0	78M	40M	6M	171M	0	438M	400M	480M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-30.91%	7.34%	26.31%	-4.73%	-60.05%	44.82%	58.13%	31.87%	21.48%	17.48%
Return on Invested Capital (ROIC)	0.03%	2.73%	5.25%	4.71%	-6.1%	36.97%	42.09%	20.94%	13.84%	12.33%
Gross Margin	8.3%	15.97%	19.07%	16.63%	-5.79%	37.88%	45.26%	34.35%	27.43%	24.62%
Net Margin	-31.39%	10.18%	36.31%	-5.35%	-61.69%	20.24%	30.34%	24.75%	18.57%	15.37%
Debt / Equity	0.98x	0.49x	0.48x	0.77x	1.51x	0.72x	0.59x	0.53x	0.63x	0.57x
Interest Coverage	0.02x	1.99x	1.74x	2.54x	-2.09x	13.35x	24.72x	13.20x	9.40x	7.39x
FCF Conversion	-0.53x	3.24x	0.88x	-5.80x	-0.50x	1.76x	1.42x	1.75x	2.28x	2.54x
Revenue Growth	34.83%	-16.12%	-4.34%	-20.91%	-34.81%	216.02%	44.2%	-23.64%	2.82%	10.41%

Devon Energy Corporation (DVN) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare DVN vs Peers

vs EOG

vs FANG

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Devon Energy Corporation (DVN) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare DVN vs Peers

vs EOG

vs FANG

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios