D 
Devon Energy DVN · USD
Energy · Oil, Gas & Consumable Fuels · US listing · 🇺🇸 United States
S&P 500
42.40
+0.45%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$17.19bn
FY2016FY2025
Net income
$2.64bn
FY2016FY2025
Free cash flow
$2.80bn
FY2016FY2025
Shareholders' equity
$15.53bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.19bn | $15.94bn | $15.26bn | $19.17bn | $12.21bn | $4.83bn | $6.22bn | $8.90bn | $6.50bn | $10.30bn |
| Gross profit | $4.39bn | $4.71bn | $5.37bn | $8.37bn | $3.68bn | $392.0m | $714.0m | $2.19bn | $1.14bn | $872.0m |
| Operating income | $3.86bn | $4.18bn | $4.94bn | $7.92bn | $3.25bn | −$590.0m | $160.0m | $1.77bn | $547.0m | −$2.90bn |
| Net income | $2.64bn | $2.89bn | $3.75bn | $6.01bn | $2.81bn | −$2.68bn | −$355.0m | $3.06bn | $898.0m | −$1.06bn |
| Diluted earnings per share | 4.25 | 4.64 | 5.87 | 9.18 | 4.18 | -7.00 | -0.92 | 6.63 | 1.70 | -2.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $31.60bn | $30.49bn | $24.49bn | $23.72bn | $21.02bn | $9.91bn | $13.72bn | $19.57bn | $30.24bn | $25.91bn |
| Cash and short-term investments | $1.43bn | $846.0m | $875.0m | $1.45bn | $2.27bn | $2.24bn | $1.46bn | $2.41bn | $2.64bn | $1.96bn |
| Total liabilities | $16.07bn | $15.79bn | $12.27bn | $12.43bn | $11.63bn | $6.89bn | $7.80bn | $10.38bn | $16.14bn | $15.54bn |
| Debt | $8.41bn | $9.20bn | $6.46bn | $6.70bn | $6.74bn | $4.55bn | $4.54bn | $4.45bn | $6.86bn | $10.15bn |
| Shareholders' equity | $15.53bn | $14.50bn | $12.06bn | $11.17bn | $9.40bn | $3.02bn | $5.92bn | $9.19bn | $9.25bn | $10.38bn |
| Shares outstanding | 622m | 623m | 638m | 655m | 673m | 383m | 385m | 462m | 528m | 527m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $6.71bn | $6.60bn | $6.54bn | $8.53bn | $4.90bn | $1.35bn | $2.07bn | $2.70bn | $2.91bn | $1.75bn |
| Capital spending | −$3.91bn | −$7.45bn | −$3.95bn | −$5.13bn | −$2.01bn | −$1.16bn | −$1.94bn | −$2.51bn | −$2.81bn | −$3.97bn |
| Free cash flow | $2.80bn | −$853.0m | $2.60bn | $3.40bn | $2.89bn | $193.0m | $130.0m | $198.0m | $104.0m | −$2.23bn |
| Dividends paid | −$619.0m | −$937.0m | −$1.86bn | −$3.38bn | −$1.31bn | −$257.0m | −$140.0m | −$149.0m | −$127.0m | −$221.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.42bn | $3.81bn | $4.12bn | $4.33bn | $4.28bn | $4.45bn | $4.40bn | $4.02bn |
| Gross profit | $4.15bn | $462.0m | $981.0m | $1.10bn | $1.11bn | $1.19bn | $1.15bn | $1.32bn |
| Operating income | $2.56bn | $312.0m | $841.0m | $982.0m | $981.0m | $773.0m | $943.0m | $1.20bn |
| Net income | $1.91bn | $120.0m | $562.0m | $687.0m | $899.0m | $494.0m | $639.0m | $812.0m |
| Diluted earnings per share | 2.03 | 0.13 | 0.90 | 1.10 | 1.45 | 0.79 | 1.03 | 1.30 |
| Cash from operations | $3.67bn | $1.66bn | $1.53bn | $1.69bn | $1.54bn | $1.94bn | $1.66bn | $1.66bn |
| Capital spending | −$4.05bn | −$1.03bn | −$933.0m | −$870.0m | −$956.0m | −$942.0m | −$1.04bn | −$4.48bn |
| Free cash flow | −$373.0m | $626.0m | $601.0m | $820.0m | $589.0m | $1.00bn | $622.0m | −$2.82bn |
| Total assets | $70.89bn | $32.54bn | $31.60bn | $31.22bn | $31.39bn | $30.93bn | $30.49bn | $30.26bn |
| Cash and short-term investments | $1.01bn | $1.81bn | $1.43bn | $1.28bn | $1.76bn | $1.23bn | $846.0m | $676.0m |
| Debt | $11.39bn | $8.39bn | $8.39bn | $8.40bn | $8.88bn | $8.89bn | $9.18bn | $9.30bn |
| Shareholders' equity | $41.75bn | $15.43bn | $15.53bn | $15.35bn | $15.06bn | $14.54bn | $14.50bn | $14.28bn |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.5% | 29.5% | 35.2% | 43.7% | 30.1% | 8.1% |
| Operating margin | 22.4% | 26.2% | 32.4% | 41.3% | 26.6% | -12.2% |
| Net margin | 15.4% | 18.1% | 24.6% | 31.4% | 23.0% | -55.5% |
| Return on equity | 17.0% | 19.9% | 31.1% | 53.9% | 29.9% | -88.8% |
| Return on assets | 8.4% | 9.5% | 15.3% | 25.4% | 13.4% | -27.0% |
| Free cash flow yield | 35.9% | 47.4% | 34.6% | 43.8% | 21.6% | 13.8% |
| Revenue growth | 7.8% | 4.5% | -20.4% | 57.0% | 152.8% | -22.4% |
| Earnings growth | -8.6% | -22.8% | -37.7% | 113.8% | -205.0% | 654.9% |
| Current ratio | 0.98x | 1.04x | 1.07x | 1.25x | 1.38x | 2.26x |
| Debt to equity | 0.54x | 0.61x | 0.51x | 0.58x | 0.72x | 1.51x |
| Equity ratio | 49.1% | 47.5% | 49.2% | 47.1% | 44.7% | 30.5% |
| Interest coverage | 7.55x | 10.43x | 13.61x | 22.82x | 8.99x | -2.09x |
| Buybacks as a share of market value | 0.2% | 2.4% | 2.6% | 2.7% | -75.7% | 0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.6% | 28.9% | 2.7% |
| Operating income | -21.3% | — | — |
| Net income | -24.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.5% | 33.8% | 31.8% | 24.7% |
| Operating margin | 24.3% | 30.9% | 27.8% | 1.9% |
| Net margin | 16.7% | 22.6% | 18.2% | 3.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.6 | 7.0 | 7.7 | 6.7 | 10.5 | -2.3 | -17.6 | 2.1 | 15.2 | -14.3 |
| Price to sales | 1.3 | 1.3 | 1.9 | 2.1 | 2.4 | 1.3 | 1.0 | 0.7 | 2.1 | 1.5 |
Market value over time
31 Oct 2016 to 21 Sept 2026, in USD
$19.74bn$44.73bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 15% | -32% | -23% | 55% | 150% | -4% | 13% | -43% | -15% | 44% |
Dividends and splits
Per share, in the currency the company pays
Paid for 33 years. Last went ex-dividend on 15 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.88 | 0.96 | 1.01 | 2.07 | 4.81 | 1.87 | 0.59 | 0.36 |
- 2-for-1 split · 16 Nov 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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