Devon Energy Corporation (DVN) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
Revenue Growth Metrics
Revenue Breakdown (FY 2025)
DVN's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
DVN Revenue Analysis (2014–2025)
As of February 28, 2026, Devon Energy Corporation (DVN) generated trailing twelve-month (TTM) revenue of $16.61 billion, reflecting moderate decline in growth of -6.3% year-over-year. The most recent quarter (Q4 2025) recorded $3.94 billion in revenue, down 7.4% sequentially.
Looking at the longer-term picture, DVN's 5-year compound annual growth rate (CAGR) stands at +31.6%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $19.83 billion in 2022.
Revenue diversification analysis shows DVN's business is primarily driven by N G L Product Sales (100%). With over half of revenue concentrated in N G L Product Sales, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including EOG (-3.5% YoY), FANG (+35.9% YoY), and OVV (-4.0% YoY), DVN has underperformed the peer group in terms of revenue growth. Compare DVN vs EOG →
Peer Comparison
Compare DVN's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| DVNCurrent | $16.6B | -6.3% | +31.6% | 22.0% | |
| EOG | $22.6B | -3.5% | +18.0% | 35.1% | |
| FANG | $15.0B | +35.9% | +39.8% | 32.7% | |
| OVV | $8.7B | -4.0% | +7.5% | 21.6% | |
| MTDR | $3.7B | +6.2% | +34.0% | 33.2% | |
| CHRD | $4.9B | -7.1% | +35.1% | 4.0% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $17.19B | +10.4% | $4.23B | 24.6% | $3.77B | 22.0% |
| 2024 | $15.57B | +2.8% | $4.27B | 27.4% | $3.77B | 24.2% |
| 2023 | $15.14B | -23.6% | $5.20B | 34.3% | $4.79B | 31.7% |
| 2022 | $19.83B | +44.2% | $8.97B | 45.3% | $8.58B | 43.3% |
| 2021 | $13.75B | +216.0% | $5.21B | 37.9% | $4.82B | 35.0% |
| 2020 | $4.35B | -34.8% | $-252,000,000 | -5.8% | $-590,000,000 | -13.6% |
| 2019 | $6.67B | -20.9% | $1.11B | 16.6% | $635.0M | 9.5% |
| 2018 | $8.44B | -4.3% | $1.61B | 19.1% | $1.03B | 12.3% |
| 2017 | $8.82B | -16.1% | $1.41B | 16.0% | $672.0M | 7.6% |
| 2016 | $10.52B | +34.8% | $873.0M | 8.3% | $8.0M | 0.1% |
See DVN's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs DVN Undervalued?
See our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare DVN vs CRC
See how DVN stacks up against sector leader California Resources Corporation.
Start ComparisonFrequently Asked Questions
Is DVN's revenue growth accelerating or slowing?
DVN revenue declined -6.3% year-over-year, contrasting with the 5-year CAGR of +31.6%. TTM revenue fell to $16.6B. This reverses the prior growth trend.
What is DVN's long-term revenue growth rate?
Devon Energy Corporation's 5-year revenue CAGR of +31.6% reflects the variable expansion pattern. Current YoY growth of -6.3% is below this long-term average.
How is DVN's revenue distributed by segment?
DVN reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.