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Devon Energy (DVN) Financials

Devon Energy logo
$49.66 +0.17 (+0.35%)
Closing price 03:59 PM Eastern
Extended Trading
$49.73 +0.07 (+0.13%)
As of 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Devon Energy

Annual Income Statements for Devon Energy

This table shows Devon Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -12,896 -1,056 898 3,064 -355 -2,680 2,813 6,015 3,747 2,891 2,642
Consolidated Net Income / (Loss)		 -13,645 -1,458 1,078 3,224 -353 -2,671 2,833 6,037 3,782 2,942 2,681
Net Income / (Loss) Continuing Operations		 -13,645 -574 33 714 -79 -2,543 2,833 6,037 3,782 2,942 2,681
Total Pre-Tax Income 		-19,858 -433 40 944 -109 -3,090 2,898 7,775 4,623 3,712 3,466
Total Operating Income		 -19,075 385 371 1,517 145 -2,854 3,184 7,989 4,969 4,171 3,945
Total Gross Profit		 4,245 2,127 2,151 3,422 2,211 1,692 5,837 10,592 7,921 7,965 7,986
Total Revenue		 13,145 6,753 6,501 8,896 6,220 4,828 12,206 19,169 15,258 15,940 17,188
Operating Revenue		 13,145 6,753 6,501 8,439 6,674 4,673 13,750 19,827 15,140 15,919 16,786
Other Revenue		 - - - 457 -454 155 -1,544 -658 118 21 402
Total Cost of Revenue		 8,900 4,626 4,350 5,474 4,009 3,136 6,369 8,577 7,337 7,975 9,202
Operating Cost of Revenue		 8,900 4,626 4,350 5,474 4,009 3,136 6,369 8,577 7,337 7,975 9,202
Total Operating Expenses		 23,320 1,742 1,780 1,905 2,066 4,546 2,653 2,603 2,952 3,794 4,041
Selling, General & Admin Expense		 1,193 733 645 574 475 338 391 395 408 500 492
Exploration Expense		 451 215 346 128 58 167 14 29 20 28 43
Depreciation Expense		 4,022 1,592 1,008 1,228 1,497 1,300 2,158 2,223 2,554 3,255 3,595
Impairment Charge		 17,647 437 - 156 0.00 2,693 - - 0.00 0.00 254
Other Special Charges / (Income)		 7.00 -1,496 -219 -278 -48 -1.00 -168 -44 -30 11 -343
Total Other Income / (Expense), net		 -783 -818 -331 -573 -254 -236 -286 -214 -346 -459 -479
Interest & Investment Income		 -519 -717 -321 -580 -250 -270 -329 -309 -308 -363 -455
Other Income / (Expense), net		 -264 -101 -10 7.00 -4.00 34 43 95 -38 -96 -24
Income Tax Expense		 -6,213 141 7.00 230 -30 -547 65 1,738 841 770 785
Net Income / (Loss) Attributable to Noncontrolling Interest		 -749 -402 180 160 2.00 9.00 20 22 35 51 39
Basic Earnings per Share		 ($31.72) ($2.09) $1.71 $6.14 ($0.89) ($7.12) $4.20 $9.15 $5.86 $4.58 $4.18
Weighted Average Basic Shares Outstanding		 407M -238.40M 520M 494M 382.90M 673.10M 664.20M 654M 635M 649M 620M
Diluted Earnings per Share		 ($31.72) ($2.09) $1.70 $6.10 ($0.89) ($7.12) $4.19 $9.12 $5.84 $4.56 $4.17
Weighted Average Diluted Shares Outstanding		 407M -238.40M 520M 494M 382.90M 673.10M 664.20M 654M 635M 649M 620M
Weighted Average Basic & Diluted Shares Outstanding		 407M -238.40M 520M 494M 382.90M 673.10M 664.20M 654M 635M 649M 620M
Cash Dividends to Common per Share		 $0.96 $0.42 $0.24 - $0.35 $0.68 $1.97 $5.17 $2.87 $1.45 $0.96

Quarterly Income Statements for Devon Energy

This table shows Devon Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 910 1,152 596 844 812 639 494 899 687 562 120
Consolidated Net Income / (Loss)		 920 1,161 609 855 825 653 509 917 693 562 120
Net Income / (Loss) Continuing Operations		 920 1,161 609 855 825 653 509 917 693 562 120
Total Pre-Tax Income 		1,072 1,430 768 1,040 1,064 840 646 1,161 912 747 166
Total Operating Income		 1,166 1,517 866 1,121 1,197 995 778 1,288 1,019 842 292
Total Gross Profit		 1,919 2,293 1,712 2,021 2,112 2,120 2,104 2,028 1,983 1,871 1,366
Total Revenue		 3,836 4,145 3,596 3,917 4,024 4,403 4,452 4,284 4,331 4,121 3,807
Operating Revenue		 4,030 3,821 3,741 3,894 3,797 4,487 4,550 4,048 4,251 3,937 4,508
Other Revenue		 -194 324 -145 23 227 -84 -98 236 80 184 -701
Total Cost of Revenue		 1,917 1,852 1,884 1,896 1,912 2,283 2,348 2,256 2,348 2,250 2,441
Operating Cost of Revenue		 1,917 1,852 1,884 1,896 1,912 2,283 2,348 2,256 2,348 2,250 2,441
Total Operating Expenses		 753 776 846 900 915 1,125 1,326 740 964 1,029 1,074
Selling, General & Admin Expense		 99 111 114 114 117 155 130 113 114 135 125
Exploration Expense		 3.00 4.00 9.00 3.00 4.00 12 10 20 8.00 5.00 25
Depreciation Expense		 651 650 722 768 794 971 912 914 879 890 904
Impairment Charge		 - - 0.00 0.00 0.00 - 254 0.00 0.00 - 0.00
Restructuring Charge		 0.00 - - - 0.00 - 18 - 0.00 - 19
Other Special Charges / (Income)		 0.00 11 1.00 15 0.00 -5.00 2.00 -307 -37 -1.00 1.00
Total Other Income / (Expense), net		 -94 -87 -98 -81 -133 -155 -132 -127 -107 -95 -126
Interest & Investment Income		 -81 -77 -76 -76 -88 -123 -123 -116 -109 -107 -109
Other Income / (Expense), net		 -13 -10 -22 -5.00 -45 -32 -9.00 -11 2.00 12 -17
Income Tax Expense		 152 269 159 185 239 187 137 244 219 185 46
Net Income / (Loss) Attributable to Noncontrolling Interest		 10 9.00 13 11 13 14 15 18 6.00 - 0.00
Basic Earnings per Share		 $1.43 $1.82 $0.95 $1.35 $1.31 $0.97 $0.77 $1.42 $1.09 $0.90 $0.19
Weighted Average Basic Shares Outstanding		 640.70M 635M 632M 626.20M 656.90M 649M 642.10M 634.80M 627.30M 620M 621.40M
Diluted Earnings per Share		 $1.42 $1.82 $0.94 $1.34 $1.30 $0.98 $0.77 $1.41 $1.09 $0.90 $0.19
Weighted Average Diluted Shares Outstanding		 640.70M 635M 632M 626.20M 656.90M 649M 642.10M 634.80M 627.30M 620M 621.40M
Weighted Average Basic & Diluted Shares Outstanding		 640.70M 635M 632M 626.20M 656.90M 649M 642.10M 634.80M 627.30M 620M 621.40M
Cash Dividends to Common per Share		 - - $0.44 $0.35 $0.44 - $0.24 $0.24 $0.24 - $0.24

Annual Cash Flow Statements for Devon Energy

This table details how cash moves in and out of Devon Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 830 -351 -1,129 -238 -602 393 34 -817 -579 -29 588
Net Cash From Operating Activities		 4,898 773 1,243 2,704 2,071 1,354 4,899 8,530 6,544 6,600 6,711
Net Cash From Continuing Operating Activities		 4,898 834 1,243 1,583 2,043 1,464 4,899 8,530 6,544 6,600 6,711
Net Income / (Loss) Continuing Operations		 -13,645 -574 33 714 -79 -2,543 2,833 6,037 3,782 2,942 2,681
Consolidated Net Income / (Loss)		 -13,645 -1,458 1,078 3,224 -353 -2,671 2,833 6,037 3,782 2,942 2,681
Depreciation Expense		 4,022 1,592 1,008 1,228 1,497 1,300 2,158 2,223 2,554 3,255 3,595
Amortization Expense		 - - - - 33 32 -27 -31 -16 8.00 16
Non-Cash Adjustments To Reconcile Net Income		 20,171 -316 202 -429 705 3,093 -13 -642 -3.00 291 -149
Changes in Operating Assets and Liabilities, net		 -5,650 71 0.00 70 -113 -418 -52 943 227 104 568
Net Cash From Investing Activities		 -5,803 -594 -2,199 1,055 921 -646 -1,574 -5,123 -3,942 -7,332 -3,393
Net Cash From Continuing Investing Activities		 -5,803 787 -1,233 -1,671 -1,551 -1,127 -1,574 -5,123 -3,942 -7,332 -3,393
Purchase of Property, Plant & Equipment		 -5,894 -2,233 -1,658 -2,171 -1,941 -1,161 -2,007 -5,125 -3,947 -7,453 -3,914
Purchase of Investments		 - - - - - - -25 -76 -53 -118 -62
Sale of Property, Plant & Equipment		 - 3,020 425 500 390 34 79 39 26 24 545
Divestitures		 107 - - - 0.00 0.00 379 39 32 215 38
Net Cash From Financing Activities		 1,812 -1,196 -173 -4,203 -3,639 -306 -3,292 -4,213 -3,184 706 -2,730
Net Cash From Continuing Financing Activities		 1,812 -2,170 -173 -4,377 -2,061 -306 -3,292 -4,213 -3,184 706 -2,730
Repayment of Debt		 -2,954 -3,383 - -1,233 -162 0.00 -1,302 0.00 -242 -472 -767
Repurchase of Common Equity		 - 0.00 - -2,956 -1,849 -38 -589 -718 -979 -1,057 -1,310
Payment of Dividends		 -650 -221 -127 -149 -140 -271 -1,336 -3,409 -1,903 -988 -642
Issuance of Debt		 4,772 - - - - - - 0.00 0.00 3,219 0.00
Issuance of Common Equity		 16 1,469 - 0.00 116 21 4.00 0.00 37 52 14
Other Financing Activities, net		 628 -35 -46 -39 -26 -18 -69 -86 -97 -48 -25
Effect of Exchange Rate Changes		 -77 - - - - 0.00 1.00 -11 3.00 -3.00 0.00

Quarterly Cash Flow Statements for Devon Energy

This table details how cash moves in and out of Devon Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 273 114 274 20 -493 170 388 525 -481 156 381
Net Cash From Operating Activities		 1,725 1,737 1,738 1,535 1,663 1,664 1,942 1,545 1,690 1,534 1,655
Net Cash From Continuing Operating Activities		 1,725 1,737 1,738 1,535 1,663 1,664 1,942 1,545 1,690 1,534 1,655
Net Income / (Loss) Continuing Operations		 920 1,161 609 855 825 653 509 917 693 562 120
Consolidated Net Income / (Loss)		 920 1,161 609 855 825 653 509 917 693 562 120
Depreciation Expense		 651 650 722 768 794 971 912 914 879 890 904
Amortization Expense		 -2.00 1.00 0.00 - 2.00 6.00 6.00 3.00 4.00 3.00 4.00
Non-Cash Adjustments To Reconcile Net Income		 418 -493 234 74 -141 164 379 -446 -42 -40 670
Changes in Operating Assets and Liabilities, net		 -262 418 173 -162 183 -130 136 157 156 119 -43
Net Cash From Investing Activities		 -897 -910 -921 -1,019 -4,349 -1,043 -802 -597 -1,024 -970 -1,020
Net Cash From Continuing Investing Activities		 -897 -910 -921 -1,019 -4,349 -1,043 -802 -597 -1,024 -970 -1,020
Purchase of Property, Plant & Equipment		 -905 -920 -902 -1,030 -4,479 -1,042 -942 -972 -1,067 -933 -1,029
Purchase of Investments		 - -1.00 -47 -1.00 -30 -40 -2.00 -8.00 -2.00 -50 -2.00
Sale of Property, Plant & Equipment		 1.00 3.00 17 1.00 - 6.00 133 372 38 2.00 2.00
Divestitures		 7.00 8.00 11 11 160 33 9.00 11 7.00 11 9.00
Net Cash From Financing Activities		 -553 -716 -541 -495 2,192 -450 -752 -424 -1,147 -407 -254
Net Cash From Continuing Financing Activities		 -553 -716 -541 -495 2,192 -450 -752 -424 -1,147 -407 -254
Repayment of Debt		 - - 0.00 - - - -274 - -485 -8.00 -3.00
Repurchase of Common Equity		 - -234 -205 -256 -295 -301 -301 -249 -510 -250 -69
Payment of Dividends		 -321 -500 -306 -242 -282 -158 -172 -170 -151 -149 -155
Issuance of Common Equity		 10 19 12 12 20 8.00 14 - - - 0.00
Other Financing Activities, net		 - -1.00 -42 -9.00 2.00 1.00 -19 -5.00 -1.00 - -27

Annual Balance Sheets for Devon Energy

This table presents Devon Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 29,451 28,675 30,241 19,566 13,717 9,912 21,025 23,721 24,490 30,489 31,599
Total Current Assets		 4,021 3,772 4,791 4,437 3,851 3,260 4,249 3,891 3,157 3,427 4,006
Cash & Equivalents		 2,310 1,959 2,642 2,414 - 2,237 2,271 1,454 875 846 1,434
Accounts Receivable		 1,105 1,356 989 812 832 601 1,543 1,767 1,573 1,972 1,792
Inventories, net		 - - - - - - 114 201 249 294 336
Other Current Assets		 606 264 400 880 232 248 321 469 460 315 444
Plant, Property, & Equipment, net		 19,068 20,533 14,584 8,462 7,558 5,393 15,008 18,106 19,328 25,011 25,419
Plant, Property & Equipment, gross		 91,154 20,533 14,584 - - 5,393 15,008 18,106 19,328 25,011 25,419
Total Noncurrent Assets		 6,362 4,370 10,866 6,667 2,308 1,259 1,768 1,724 2,005 2,051 2,174
Goodwill		 5,032 2,383 841 753 753 753 753 753 753 753 753
Other Noncurrent Operating Assets		 1,330 1,987 296 276 1,474 506 1,015 971 1,252 1,298 1,421
Total Liabilities & Shareholders' Equity		 29,451 28,675 30,241 19,566 13,717 9,912 21,025 23,721 24,490 30,489 31,599
Total Liabilities		 18,462 15,953 16,137 10,380 7,797 6,893 11,626 12,425 12,273 15,785 16,071
Total Current Liabilities		 3,295 2,616 3,315 2,226 1,927 1,440 3,087 3,105 2,949 3,309 4,086
Short-Term Debt		 976 0.00 115 162 - - 0.00 251 483 485 998
Accounts Payable		 1,669 642 633 530 428 242 500 859 760 806 790
Current Deferred & Payable Income Tax Liabilities		 - - - - - - - - - - 0.00
Other Current Liabilities		 650 1,974 1,576 1,042 1,040 1,198 2,587 1,995 1,706 2,018 2,298
Total Noncurrent Liabilities		 15,167 13,337 12,822 8,154 5,870 5,453 8,539 9,320 9,324 12,476 11,985
Long-Term Debt		 12,056 10,154 6,749 4,292 4,294 4,298 6,482 6,189 5,672 8,398 7,391
Capital Lease Obligations		 - - - - 244 246 252 257 295 320 197
Asset Retirement Reserve & Litigation Obligation		 1,370 1,226 1,099 468 380 358 468 511 643 770 863
Noncurrent Deferred & Payable Income Tax Liabilities		 888 1,063 489 529 341 - 287 1,463 1,838 2,148 2,627
Other Noncurrent Operating Liabilities		 853 894 549 411 426 551 1,050 900 876 840 907
Total Equity & Noncontrolling Interests		 10,989 12,722 14,104 9,186 5,920 3,019 9,399 11,296 12,217 14,704 15,528
Total Preferred & Common Equity		 7,049 8,274 9,254 9,186 5,802 2,885 9,262 11,167 12,061 14,496 15,528
Total Common Equity		 7,049 8,274 9,254 9,186 5,802 2,885 9,262 11,167 12,061 14,496 15,528
Common Stock		 5,038 7,289 7,386 4,531 2,773 2,804 7,702 6,986 6,003 6,452 5,450
Retained Earnings		 1,781 -69 702 3,650 3,148 208 1,692 4,297 6,195 8,166 10,200
Accumulated Other Comprehensive Income / (Loss)		 230 1,054 1,166 1,027 -119 -127 -132 -116 -124 -122 -122
Noncontrolling Interest		 3,940 4,448 4,850 - 118 134 137 129 156 208 0.00

Quarterly Balance Sheets for Devon Energy

This table presents Devon Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 23,355 24,241 24,490 24,978 25,162 30,263 30,489 30,928 31,390 31,221 32,543
Total Current Assets		 2,605 3,212 3,157 3,398 3,359 3,232 3,427 3,905 4,323 3,867 4,762
Cash & Equivalents		 488 761 875 1,149 1,169 676 846 1,234 1,759 1,278 1,815
Accounts Receivable		 1,519 1,853 1,573 1,670 1,589 1,779 1,972 2,036 1,853 1,835 2,250
Inventories, net		 201 233 249 234 258 293 294 332 327 361 319
Other Current Assets		 397 365 460 345 343 484 315 303 384 393 378
Plant, Property, & Equipment, net		 18,763 19,031 19,328 19,584 19,785 24,950 25,011 25,082 25,115 25,289 25,598
Plant, Property & Equipment, gross		 18,763 19,031 19,328 19,584 19,785 24,950 25,011 25,082 25,115 25,289 25,598
Total Noncurrent Assets		 1,987 1,998 2,005 1,996 2,018 2,081 2,051 1,941 1,952 2,065 2,183
Goodwill		 753 753 753 753 753 753 753 753 753 753 753
Other Noncurrent Operating Assets		 1,234 1,245 1,252 1,243 1,265 1,328 1,298 1,188 1,199 1,312 1,430
Total Liabilities & Shareholders' Equity		 23,355 24,241 24,490 24,978 25,162 30,263 30,489 30,928 31,390 31,221 32,543
Total Liabilities		 12,205 12,462 12,273 12,637 12,433 15,785 15,785 16,155 16,098 15,871 17,115
Total Current Liabilities		 2,669 3,330 2,949 3,266 3,016 2,906 3,309 3,618 3,537 4,042 4,734
Short-Term Debt		 244 487 483 479 475 0.00 485 485 485 998 999
Accounts Payable		 843 812 760 879 754 995 806 923 885 934 975
Current Deferred & Payable Income Tax Liabilities		 - - - 189 - - - 0.00 190 0.00 0.00
Other Current Liabilities		 1,582 2,031 1,706 1,719 1,787 1,911 2,018 2,210 1,977 2,110 2,760
Total Noncurrent Liabilities		 9,536 9,132 9,324 9,371 9,417 12,879 12,476 12,537 12,561 11,829 12,381
Long-Term Debt		 6,169 5,675 5,672 5,668 5,665 8,884 8,398 8,395 8,393 7,393 7,387
Capital Lease Obligations		 299 290 295 301 315 328 320 77 113 158 206
Asset Retirement Reserve & Litigation Obligation		 548 641 643 683 691 765 770 835 839 850 986
Noncurrent Deferred & Payable Income Tax Liabilities		 1,662 1,676 1,838 1,878 1,917 2,082 2,148 2,189 2,208 2,466 2,862
Other Noncurrent Operating Liabilities		 858 850 876 841 829 820 840 1,041 1,008 962 940
Total Equity & Noncontrolling Interests		 11,150 11,779 12,217 12,341 12,729 14,478 14,704 14,773 15,292 15,350 15,428
Total Preferred & Common Equity		 11,021 11,639 12,061 12,167 12,551 14,277 14,496 14,545 15,060 15,350 15,428
Total Common Equity		 11,021 11,639 12,061 12,167 12,551 14,277 14,496 14,545 15,060 15,350 15,428
Common Stock		 6,195 6,217 6,003 5,781 5,541 6,728 6,452 6,160 5,928 5,681 5,378
Retained Earnings		 4,940 5,535 6,195 6,509 7,132 7,670 8,166 8,506 9,252 9,788 10,171
Accumulated Other Comprehensive Income / (Loss)		 -114 -113 -124 -123 -122 -121 -122 -121 -120 -119 -121
Noncontrolling Interest		 129 140 156 174 178 201 208 228 232 0.00 0.00

Annual Metrics And Ratios for Devon Energy

This table displays calculated financial ratios and metrics derived from Devon Energy's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -32.82% -48.63% -3.73% 36.84% -30.08% -22.38% 152.82% 57.05% -20.40% 4.47% 7.83%
EBITDA Growth		 -293.79% 112.25% -27.03% 101.02% -39.28% -189.05% 460.08% 91.79% -27.32% -1.75% 2.64%
EBIT Growth		 -521.79% 101.47% 27.11% 322.16% -90.75% -2,100.00% 214.43% 150.51% -39.00% -17.36% -3.78%
NOPAT Growth		 -782.22% 102.02% 13.57% 274.87% -91.15% -2,068.28% 255.80% 99.29% -34.47% -18.68% -7.69%
Net Income Growth		 -906.92% 89.31% 173.94% 199.07% -110.95% -656.66% 206.07% 113.10% -37.35% -22.21% -8.87%
EPS Growth		 -911.25% 93.41% 181.34% 258.82% -114.59% -700.00% 158.85% 117.66% -35.96% -21.92% -8.55%
Operating Cash Flow Growth		 -18.65% -84.22% 60.80% 117.54% -23.41% -34.62% 261.82% 74.12% -23.28% 0.86% 1.68%
Free Cash Flow Firm Growth		 113.74% 18.59% 557.87% -30.94% -99.59% 3,973.19% -666.59% 165.02% -20.25% -169.81% 274.84%
Invested Capital Growth		 -39.90% -4.55% -38.41% -35.73% 0.95% -35.68% 160.27% 19.31% 7.58% 29.61% -1.65%
Revenue Q/Q Growth		 -19.13% -34.95% -5.86% 73.48% -14.22% -6.02% 32.49% 0.14% -1.00% 1.65% -1.61%
EBITDA Q/Q Growth		 -33.28% 139.75% -77.71% 2,992.13% -47.78% -9.73% 61.97% -0.73% -1.13% -2.89% -2.50%
EBIT Q/Q Growth		 -29.88% 103.70% -92.53% 298.18% -92.36% -3.03% 124.25% -1.49% -2.36% -11.78% -2.70%
NOPAT Q/Q Growth		 -28.52% 105.27% -93.08% 313.15% -92.45% -3.56% 100.74% -4.99% -0.59% -12.16% -4.21%
Net Income Q/Q Growth		 -27.88% 80.24% -67.72% 35.52% -124.58% 16.87% 131.64% -4.85% -1.12% -14.72% -3.28%
EPS Q/Q Growth		 -24.64% 85.93% -75.22% 42.86% -130.80% 15.84% 150.90% -4.40% -0.17% -15.56% -1.88%
Operating Cash Flow Q/Q Growth		 -10.31% -57.83% 4.28% 144.48% -22.90% -19.21% 38.74% 2.83% -2.59% -1.09% -1.90%
Free Cash Flow Firm Q/Q Growth		 205.38% -47.79% 144.48% -20.43% -99.33% -54.93% 14.37% -2.33% -7.08% -10.27% -4.08%
Invested Capital Q/Q Growth		 -16.61% 11.93% -34.73% -30.74% -14.25% -4.96% 2.77% 0.80% 1.84% 0.20% 0.26%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 32.29% 31.50% 33.09% 38.47% 35.55% 35.05% 47.82% 55.26% 51.91% 49.97% 46.46%
EBITDA Margin		 -116.52% 27.78% 21.06% 30.94% 26.87% -30.82% 43.90% 53.61% 48.95% 46.04% 43.82%
Operating Margin		 -145.11% 5.70% 5.71% 17.05% 2.33% -59.11% 26.09% 41.68% 32.57% 26.17% 22.95%
EBIT Margin		 -147.12% 4.21% 5.55% 17.13% 2.27% -58.41% 26.44% 42.17% 32.32% 25.56% 22.81%
Profit (Net Income) Margin		 -103.80% -21.59% 16.58% 36.24% -5.68% -55.32% 23.21% 31.49% 24.79% 18.46% 15.60%
Tax Burden Percent		 68.71% 336.72% 2,695.00% 341.53% 323.85% 86.44% 97.76% 77.65% 81.81% 79.26% 77.35%
Interest Burden Percent		 102.68% -152.46% 11.08% 61.94% -77.31% 109.57% 89.80% 96.18% 93.75% 91.09% 88.40%
Effective Tax Rate		 0.00% 0.00% 17.50% 24.36% 0.00% 0.00% 2.24% 22.35% 18.19% 20.74% 22.65%
Return on Invested Capital (ROIC)		 -46.18% 1.27% 1.83% 10.94% 1.23% -29.36% 32.44% 40.81% 23.68% 16.18% 13.34%
ROIC Less NNEP Spread (ROIC-NNEP)		 -49.03% -17.18% 25.00% -167.84% -64.73% -58.21% 24.18% 37.39% 18.45% 10.96% 8.56%
Return on Net Nonoperating Assets (RNNOA)		 -26.93% -13.57% 6.21% 16.74% -5.91% -30.40% 13.18% 17.53% 8.49% 5.67% 4.39%
Return on Equity (ROE)		 -73.10% -12.30% 8.04% 27.69% -4.67% -59.76% 45.63% 58.34% 32.17% 21.86% 17.74%
Cash Return on Invested Capital (CROIC)		 3.66% 5.92% 49.37% 54.45% 0.29% 14.07% -56.53% 23.20% 16.38% -9.61% 15.01%
Operating Return on Assets (OROA)		 -48.29% 0.98% 1.23% 6.12% 0.85% -23.87% 20.86% 36.13% 20.46% 14.82% 12.63%
Return on Assets (ROA)		 -34.08% -5.02% 3.66% 12.95% -2.12% -22.61% 18.31% 26.98% 15.69% 10.70% 8.64%
Return on Common Equity (ROCE)		 -55.99% -7.95% 5.25% 21.92% -4.64% -58.08% 44.63% 57.59% 31.78% 21.56% 17.61%
Return on Equity Simple (ROE_SIMPLE)		 -193.57% -17.62% 11.65% 35.10% -6.08% -92.58% 30.59% 54.06% 31.36% 20.30% 0.00%
Net Operating Profit after Tax (NOPAT)		 -13,353 270 306 1,147 102 -1,998 3,113 6,203 4,065 3,306 3,052
NOPAT Margin		 -101.58% 3.99% 4.71% 12.90% 1.63% -41.38% 25.50% 32.36% 26.64% 20.74% 17.75%
Net Nonoperating Expense Percent (NNEP)		 2.85% 18.45% -23.17% 178.79% 65.97% 28.84% 8.26% 3.42% 5.23% 5.22% 4.78%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 34.48% 21.78% 13.83% 12.65%
Cost of Revenue to Revenue		 67.71% 68.50% 66.91% 61.53% 64.45% 64.95% 52.18% 44.74% 48.09% 50.03% 53.54%
SG&A Expenses to Revenue		 9.08% 10.85% 9.92% 6.45% 7.64% 7.00% 3.20% 2.06% 2.67% 3.14% 2.86%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 177.41% 25.80% 27.38% 21.41% 33.22% 94.16% 21.74% 13.58% 19.35% 23.80% 23.51%
Earnings before Interest and Taxes (EBIT)		 -19,339 284 361 1,524 141 -2,820 3,227 8,084 4,931 4,075 3,921
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -15,317 1,876 1,369 2,752 1,671 -1,488 5,358 10,276 7,469 7,338 7,532
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.38 2.17 1.78 0.88 1.33 1.72 2.81 3.28 2.32 1.48 1.48
Price to Tangible Book Value (P/TBV)		 4.83 3.05 1.96 0.95 1.53 2.33 3.06 3.51 2.48 1.56 1.56
Price to Revenue (P/Rev)		 0.74 2.66 2.53 0.91 1.24 1.03 2.13 1.91 1.84 1.35 1.34
Price to Earnings (P/E)		 0.00 0.00 18.32 2.63 0.00 0.00 9.25 6.09 7.48 7.44 8.70
Dividend Yield		 4.05% 1.22% 0.77% 1.74% 1.74% 5.24% 1.15% 1.21% 1.83% 3.76% 2.62%
Earnings Yield		 0.00% 0.00% 5.46% 38.06% 0.00% 0.00% 10.81% 16.43% 13.36% 13.45% 11.50%
Enterprise Value to Invested Capital (EV/IC)		 1.12 1.48 2.00 1.23 1.27 1.39 2.21 2.54 1.90 1.30 1.33
Enterprise Value to Revenue (EV/Rev)		 1.86 4.53 3.93 1.13 1.69 1.53 2.51 2.19 2.21 1.89 1.75
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 16.32 18.65 3.67 6.30 0.00 5.71 4.08 4.52 4.10 4.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 107.78 70.71 6.62 74.66 0.00 9.49 5.19 6.85 7.38 7.68
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 113.58 83.40 8.79 103.71 0.00 9.84 6.77 8.31 9.09 9.87
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.98 39.60 20.54 3.73 5.08 5.47 6.25 4.92 5.16 4.56 4.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 23.03 24.36 3.09 1.77 447.95 7.74 0.00 11.90 12.01 0.00 8.78
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.19 0.80 0.49 0.48 0.77 1.51 0.72 0.59 0.53 0.63 0.55
Long-Term Debt to Equity		 1.10 0.80 0.48 0.47 0.77 1.51 0.72 0.57 0.49 0.59 0.49
Financial Leverage		 0.55 0.79 0.25 -0.10 0.09 0.52 0.55 0.47 0.46 0.52 0.51
Leverage Ratio		 2.15 2.45 2.20 2.14 2.20 2.64 2.49 2.16 2.05 2.04 2.05
Compound Leverage Factor		 2.20 -3.74 0.24 1.32 -1.70 2.90 2.24 2.08 1.92 1.86 1.82
Debt to Total Capital		 54.25% 44.39% 32.74% 32.65% 43.39% 60.08% 41.74% 37.22% 34.55% 38.50% 35.61%
Short-Term Debt to Total Capital		 4.06% 0.00% 0.55% 1.19% 0.00% 0.00% 0.00% 1.40% 2.59% 2.03% 4.14%
Long-Term Debt to Total Capital		 50.19% 44.39% 32.19% 31.47% 43.39% 60.08% 41.74% 35.83% 31.97% 36.47% 31.47%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 16.40% 19.44% 23.13% 0.00% 1.13% 1.77% 0.85% 0.72% 0.84% 0.87% 0.00%
Common Equity to Total Capital		 29.35% 36.17% 44.13% 67.35% 55.48% 38.15% 57.41% 62.06% 64.61% 60.64% 64.39%
Debt to EBITDA		 -0.85 5.41 5.01 1.62 2.72 -3.05 1.26 0.65 0.86 1.25 1.14
Net Debt to EBITDA		 -0.70 4.37 3.08 0.74 1.61 -1.55 0.83 0.51 0.75 1.14 0.95
Long-Term Debt to EBITDA		 -0.79 5.41 4.93 1.56 2.72 -3.05 1.26 0.63 0.80 1.19 1.01
Debt to NOPAT		 -0.98 37.68 22.43 3.88 44.71 -2.27 2.16 1.08 1.59 2.78 2.81
Net Debt to NOPAT		 -0.80 30.41 13.79 1.78 26.54 -1.15 1.43 0.85 1.37 2.53 2.34
Long-Term Debt to NOPAT		 -0.90 37.68 22.05 3.74 44.71 -2.27 2.16 1.04 1.47 2.64 2.49
Altman Z-Score		 -1.29 0.99 0.96 1.57 1.57 0.23 2.61 3.99 3.02 2.16 2.26
Noncontrolling Interest Sharing Ratio		 23.42% 35.38% 34.66% 20.82% 0.78% 2.82% 2.18% 1.29% 1.21% 1.35% 0.69%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.22 1.44 1.45 1.99 2.00 2.26 1.38 1.25 1.07 1.04 0.98
Quick Ratio		 1.04 1.27 1.10 1.45 0.43 1.97 1.24 1.04 0.83 0.85 0.79
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1,060 1,257 8,266 5,708 24 957 -5,423 3,526 2,812 -1,963 3,433
Operating Cash Flow to CapEx		 83.10% 0.00% 100.81% 161.82% 133.53% 120.14% 254.10% 167.72% 166.90% 88.84% 199.20%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.33 0.23 0.22 0.36 0.37 0.41 0.79 0.86 0.63 0.58 0.55
Accounts Receivable Turnover		 8.58 5.49 5.54 9.88 7.57 6.74 11.39 11.58 9.14 8.99 9.13
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 54.46 32.61 29.37 29.21
Fixed Asset Turnover		 0.47 0.34 0.37 0.77 0.78 0.75 1.20 1.16 0.82 0.72 0.68
Accounts Payable Turnover		 4.18 4.00 6.82 9.41 8.37 9.36 17.17 12.62 9.06 10.19 11.53
Days Sales Outstanding (DSO)		 42.54 66.51 65.83 36.95 48.24 54.17 32.06 31.51 39.95 40.59 39.97
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.70 11.19 12.43 12.49
Days Payable Outstanding (DPO)		 87.39 91.17 53.49 38.77 43.61 38.99 21.26 28.92 40.27 35.84 31.65
Cash Conversion Cycle (CCC)		 -44.86 -24.66 12.34 -1.83 4.63 15.18 10.79 9.30 10.87 17.18 20.81
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 21,711 20,724 12,764 8,203 8,281 5,326 13,862 16,539 17,792 23,061 22,680
Invested Capital Turnover		 0.45 0.32 0.39 0.85 0.75 0.71 1.27 1.26 0.89 0.78 0.75
Increase / (Decrease) in Invested Capital		 -14,412 -987 -7,960 -4,561 78 -2,955 8,536 2,677 1,253 5,269 -381
Enterprise Value (EV)		 24,396 30,609 25,527 10,091 10,527 7,409 30,613 41,976 33,772 30,065 30,130
Market Capitalization		 9,734 17,966 16,455 8,051 7,715 4,968 26,013 36,604 28,041 21,500 22,978
Book Value per Share		 $17.15 $15.80 $17.61 $19.62 $15.11 $7.54 $13.68 $17.08 $18.82 $22.07 $24.75
Tangible Book Value per Share		 $4.91 $11.25 $16.01 $18.01 $13.15 $5.57 $12.57 $15.93 $17.65 $20.92 $23.55
Total Capital		 24,021 22,876 20,968 13,640 10,458 7,563 16,133 17,993 18,667 23,907 24,114
Total Debt		 13,032 10,154 6,864 4,454 4,538 4,544 6,734 6,697 6,450 9,203 8,586
Total Long-Term Debt		 12,056 10,154 6,749 4,292 4,538 4,544 6,734 6,446 5,967 8,718 7,588
Net Debt		 10,722 8,195 4,222 2,040 2,694 2,307 4,463 5,243 5,575 8,357 7,152
Capital Expenditures (CapEx)		 5,894 -787 1,233 1,671 1,551 1,127 1,928 5,086 3,921 7,429 3,369
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -608 -803 -1,051 -41 80 -417 -1,109 -417 -184 -243 -516
Debt-free Net Working Capital (DFNWC)		 1,702 1,156 1,591 2,373 1,924 1,820 1,162 1,037 691 603 918
Net Working Capital (NWC)		 726 1,156 1,476 2,211 1,924 1,820 1,162 786 208 118 -80
Net Nonoperating Expense (NNE)		 293 1,728 -772 -2,077 455 673 280 166 283 364 371
Net Nonoperating Obligations (NNO)		 10,722 8,002 -1,340 -983 2,361 2,307 4,463 5,243 5,575 8,357 7,152
Total Depreciation and Amortization (D&A)		 4,022 1,592 1,008 1,228 1,530 1,332 2,131 2,192 2,538 3,263 3,611
Debt-free, Cash-free Net Working Capital to Revenue		 -4.63% -11.89% -16.17% -0.46% 1.29% -8.64% -9.09% -2.18% -1.21% -1.52% -3.00%
Debt-free Net Working Capital to Revenue		 12.95% 17.12% 24.47% 26.67% 30.93% 37.70% 9.52% 5.41% 4.53% 3.78% 5.34%
Net Working Capital to Revenue		 5.52% 17.12% 22.70% 24.85% 30.93% 37.70% 9.52% 4.10% 1.36% 0.74% -0.47%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($35.55) ($6.52) $1.71 $6.14 ($0.89) ($7.12) $4.20 $9.15 $5.86 $4.58 $4.18
Adjusted Weighted Average Basic Shares Outstanding		 441.30M 524.60M 526.10M 438.30M 382.90M 673.10M 664.20M 654M 635M 649M 620M
Adjusted Diluted Earnings per Share		 ($35.55) ($6.52) $1.70 $6.10 ($0.89) ($7.12) $4.19 $9.12 $5.84 $4.56 $4.17
Adjusted Weighted Average Diluted Shares Outstanding		 441.30M 524.60M 526.10M 438.30M 382.90M 673.10M 664.20M 654M 635M 649M 620M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 441.30M 524.60M 526.10M 438.30M 382.90M 673.10M 664.20M 654M 635M 649M 620M
Normalized Net Operating Profit after Tax (NOPAT)		 -995 -289 125 1,128 127 -79 3,201 6,169 4,041 3,315 2,983
Normalized NOPAT Margin		 -7.57% -4.28% 1.93% 12.69% 2.04% -1.64% 26.22% 32.18% 26.48% 20.79% 17.35%
Pre Tax Income Margin		 -151.07% -6.41% 0.62% 10.61% -1.75% -64.00% 23.74% 40.56% 30.30% 23.29% 20.17%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -4.76% -15.16% 11.78% 4.62% -39.66% -10.15% 47.16% 56.47% 50.32% 33.58% 23.95%
Augmented Payout Ratio		 -4.76% -15.16% 11.78% 96.31% -563.46% -11.57% 67.95% 68.36% 76.20% 69.51% 72.81%

Quarterly Metrics And Ratios for Devon Energy

This table displays calculated financial ratios and metrics derived from Devon Energy's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 620,000,000.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 620,000,000.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.19
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -29.38% -3.58% -5.94% 13.40% 4.90% 6.22% 23.80% 9.37% 7.63% -6.40% -14.49%
EBITDA Growth		 -41.96% -3.79% -17.75% 17.38% 8.10% -10.10% 7.73% 16.45% -2.26% -9.95% -29.88%
EBIT Growth		 -54.46% -7.32% -34.88% 14.46% -0.09% -36.10% -8.89% 14.43% -11.37% -11.32% -64.24%
NOPAT Growth		 -47.90% -2.06% -35.59% 20.24% -7.87% -37.20% -8.67% 10.39% -16.57% -17.44% -65.57%
Net Income Growth		 -51.58% -3.57% -39.28% 22.49% -10.33% -43.76% -16.42% 7.25% -16.00% -13.94% -76.42%
EPS Growth		 -50.69% -0.55% -38.56% 25.23% -8.45% -46.15% -18.09% 5.22% -16.15% -8.16% -75.32%
Operating Cash Flow Growth		 -18.01% -9.11% 3.64% 9.25% -3.59% -4.20% 11.74% 0.65% 1.62% -7.81% -14.78%
Free Cash Flow Firm Growth		 93.76% 98.49% 97.42% 109.00% -7,315.69% -20,940.73% -7,032.53% -1,344.40% 125.29% 122.54% 111.83%
Invested Capital Growth		 6.48% 7.58% 4.42% 3.69% 31.73% 29.61% 27.53% 25.03% -1.71% -1.65% -1.29%
Revenue Q/Q Growth		 11.06% 8.06% -13.24% 8.93% 2.73% 9.42% 1.11% -3.77% 1.10% -4.85% -7.62%
EBITDA Q/Q Growth		 12.27% 19.76% -27.43% 20.31% 3.40% -0.41% -13.04% 30.05% -13.22% -8.25% -32.28%
EBIT Q/Q Growth		 18.26% 30.70% -43.99% 32.23% 3.23% -16.41% -20.15% 66.06% -20.05% -16.36% -67.80%
NOPAT Q/Q Growth		 30.55% 23.08% -44.24% 34.20% 0.04% -16.10% -18.91% 62.20% -23.89% -18.19% -66.68%
Net Income Q/Q Growth		 31.81% 26.20% -47.55% 40.39% -3.51% -20.85% -22.05% 80.16% -24.43% -18.90% -78.65%
EPS Q/Q Growth		 32.71% 28.17% -48.35% 42.55% -2.99% -24.62% -21.43% 83.12% -22.70% -17.43% -78.89%
Operating Cash Flow Q/Q Growth		 22.78% 0.70% 0.06% -11.68% 8.34% 0.06% 16.71% -20.44% 9.39% -9.23% 7.89%
Free Cash Flow Firm Q/Q Growth		 98.00% 65.72% -177.50% 573.26% -1,747.26% 2.74% 5.93% 17.43% 133.43% -13.09% -50.51%
Invested Capital Q/Q Growth		 0.55% 1.84% -0.85% 2.13% 27.75% 0.20% -2.45% 0.12% 0.43% 0.26% -2.09%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 50.03% 55.32% 47.61% 51.60% 52.49% 48.15% 47.26% 47.34% 45.79% 45.40% 35.88%
EBITDA Margin		 46.98% 52.06% 43.55% 48.10% 48.41% 44.06% 37.89% 51.21% 43.96% 42.39% 31.07%
Operating Margin		 30.40% 36.60% 24.08% 28.62% 29.55% 22.60% 17.88% 30.07% 23.53% 20.43% 7.67%
EBIT Margin		 30.06% 36.36% 23.47% 28.49% 28.63% 21.87% 17.27% 29.81% 23.57% 20.72% 7.22%
Profit (Net Income) Margin		 23.98% 28.01% 16.94% 21.83% 20.50% 14.83% 11.43% 21.41% 16.00% 13.64% 3.15%
Tax Burden Percent		 85.82% 81.19% 79.30% 82.21% 77.54% 77.74% 78.79% 78.98% 75.99% 75.23% 72.29%
Interest Burden Percent		 92.97% 94.89% 91.00% 93.19% 92.36% 87.23% 84.01% 90.92% 89.32% 87.47% 60.36%
Effective Tax Rate		 14.18% 18.81% 20.70% 17.79% 22.46% 22.26% 21.21% 21.02% 24.01% 24.77% 27.71%
Return on Invested Capital (ROIC)		 23.74% 26.41% 16.62% 20.60% 17.75% 13.71% 11.79% 20.11% 13.69% 11.55% 4.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 22.28% 25.11% 15.22% 19.44% 16.39% 11.98% 9.98% 18.50% 12.66% 10.63% 2.85%
Return on Net Nonoperating Assets (RNNOA)		 10.85% 11.55% 7.20% 9.37% 8.88% 6.20% 4.79% 8.27% 6.71% 5.45% 1.37%
Return on Equity (ROE)		 34.58% 37.96% 23.82% 29.97% 26.63% 19.91% 16.58% 28.37% 20.40% 17.01% 5.47%
Cash Return on Invested Capital (CROIC)		 17.87% 16.38% 17.03% 18.09% -8.80% -9.61% -8.02% -5.77% 15.68% 15.01% 13.18%
Operating Return on Assets (OROA)		 19.38% 23.01% 14.58% 18.20% 16.47% 12.68% 10.38% 18.09% 13.40% 11.47% 3.77%
Return on Assets (ROA)		 15.47% 17.73% 10.52% 13.94% 11.80% 8.60% 6.87% 12.99% 9.09% 7.55% 1.64%
Return on Common Equity (ROCE)		 34.16% 37.50% 23.52% 29.59% 26.28% 19.64% 16.34% 27.96% 20.26% 16.89% 5.43%
Return on Equity Simple (ROE_SIMPLE)		 32.86% 0.00% 27.85% 28.24% 24.16% 0.00% 19.54% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,001 1,232 687 922 922 773 627 1,017 774 633 211
NOPAT Margin		 26.09% 29.71% 19.10% 23.53% 22.91% 17.57% 14.09% 23.75% 17.88% 15.37% 5.54%
Net Nonoperating Expense Percent (NNEP)		 1.45% 1.31% 1.40% 1.16% 1.36% 1.73% 1.82% 1.60% 1.03% 0.92% 1.26%
Return On Investment Capital (ROIC_SIMPLE)		 - 6.60% - - - 3.24% 2.64% 4.19% 3.24% 2.63% 0.88%
Cost of Revenue to Revenue		 49.97% 44.68% 52.39% 48.40% 47.51% 51.85% 52.74% 52.66% 54.21% 54.60% 64.12%
SG&A Expenses to Revenue		 2.58% 2.68% 3.17% 2.91% 2.91% 3.52% 2.92% 2.64% 2.63% 3.28% 3.28%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 19.63% 18.72% 23.53% 22.98% 22.94% 25.55% 29.38% 17.27% 22.26% 24.97% 28.21%
Earnings before Interest and Taxes (EBIT)		 1,153 1,507 844 1,116 1,152 963 769 1,277 1,021 854 275
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,802 2,158 1,566 1,884 1,948 1,940 1,687 2,194 1,904 1,747 1,183
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.51 2.32 2.64 2.39 1.72 1.48 1.67 1.36 1.45 1.48 2.02
Price to Tangible Book Value (P/TBV)		 2.68 2.48 2.82 2.54 1.81 1.56 1.76 1.43 1.52 1.56 2.13
Price to Revenue (P/Rev)		 1.89 1.84 2.14 1.93 1.56 1.35 1.45 1.19 1.27 1.34 1.89
Price to Earnings (P/E)		 7.69 7.48 9.60 8.55 7.20 7.44 8.70 7.18 8.19 8.70 13.76
Dividend Yield		 1.71% 1.83% 1.63% 2.05% 3.09% 3.76% 3.34% 3.58% 2.68% 2.62% 1.91%
Earnings Yield		 13.00% 13.36% 10.41% 11.69% 13.90% 13.45% 11.49% 13.92% 12.22% 11.50% 7.27%
Enterprise Value to Invested Capital (EV/IC)		 2.01 1.90 2.13 1.97 1.44 1.30 1.43 1.24 1.31 1.33 1.71
Enterprise Value to Revenue (EV/Rev)		 2.27 2.21 2.50 2.29 2.12 1.89 1.92 1.63 1.69 1.75 2.30
Enterprise Value to EBITDA (EV/EBITDA)		 4.64 4.52 5.28 4.78 4.40 4.10 4.32 3.59 3.82 4.00 5.40
Enterprise Value to EBIT (EV/EBIT)		 6.94 6.85 8.40 7.67 7.20 7.38 8.06 6.70 7.33 7.68 11.08
Enterprise Value to NOPAT (EV/NOPAT)		 8.57 8.31 10.21 9.22 8.83 9.09 9.93 8.35 9.27 9.87 14.30
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.21 5.16 5.70 5.26 4.98 4.56 4.74 4.09 4.32 4.49 5.91
Enterprise Value to Free Cash Flow (EV/FCFF)		 11.58 12.01 12.80 11.07 0.00 0.00 0.00 0.00 8.25 8.78 12.89
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.55 0.53 0.52 0.51 0.64 0.63 0.61 0.59 0.56 0.55 0.56
Long-Term Debt to Equity		 0.51 0.49 0.48 0.47 0.64 0.59 0.57 0.56 0.49 0.49 0.49
Financial Leverage		 0.49 0.46 0.47 0.48 0.54 0.52 0.48 0.45 0.53 0.51 0.48
Leverage Ratio		 2.10 2.05 2.06 2.03 2.08 2.04 2.06 2.02 2.06 2.05 2.10
Compound Leverage Factor		 1.95 1.95 1.88 1.89 1.92 1.78 1.73 1.83 1.84 1.80 1.27
Debt to Total Capital		 35.39% 34.55% 34.32% 33.65% 38.89% 38.50% 37.75% 37.03% 35.77% 35.61% 35.77%
Short-Term Debt to Total Capital		 2.67% 2.59% 2.55% 2.48% 0.00% 2.03% 2.04% 2.00% 4.18% 4.14% 4.16%
Long-Term Debt to Total Capital		 32.72% 31.97% 31.77% 31.17% 38.89% 36.47% 35.70% 35.03% 31.60% 31.47% 31.61%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.77% 0.84% 0.93% 0.93% 0.85% 0.87% 0.96% 0.96% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 63.84% 64.61% 64.76% 65.42% 60.27% 60.64% 61.29% 62.02% 64.23% 64.39% 64.23%
Debt to EBITDA		 0.85 0.86 0.90 0.87 1.22 1.25 1.20 1.16 1.11 1.14 1.22
Net Debt to EBITDA		 0.75 0.75 0.74 0.71 1.13 1.14 1.04 0.93 0.94 0.95 0.96
Long-Term Debt to EBITDA		 0.79 0.80 0.84 0.81 1.22 1.19 1.14 1.09 0.98 1.01 1.08
Debt to NOPAT		 1.58 1.59 1.75 1.68 2.45 2.78 2.76 2.69 2.68 2.81 3.24
Net Debt to NOPAT		 1.39 1.37 1.44 1.38 2.27 2.53 2.38 2.17 2.28 2.34 2.55
Long-Term Debt to NOPAT		 1.46 1.47 1.62 1.56 2.45 2.64 2.61 2.55 2.37 2.49 2.86
Altman Z-Score		 2.51 2.56 2.61 2.62 1.94 1.82 1.92 1.89 1.94 1.94 2.07
Noncontrolling Interest Sharing Ratio		 1.20% 1.21% 1.28% 1.29% 1.30% 1.35% 1.48% 1.46% 0.67% 0.69% 0.75%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.96 1.07 1.04 1.11 1.11 1.04 1.08 1.22 0.96 0.98 1.01
Quick Ratio		 0.79 0.83 0.86 0.91 0.84 0.85 0.90 1.02 0.77 0.79 0.86
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -62 -21 -59 281 -4,622 -4,496 -4,229 -3,492 1,167 1,014 502
Operating Cash Flow to CapEx		 190.82% 189.42% 196.38% 149.17% 37.13% 160.62% 240.05% 257.50% 164.24% 164.77% 161.15%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.64 0.63 0.62 0.64 0.58 0.58 0.60 0.61 0.57 0.55 0.52
Accounts Receivable Turnover		 7.88 9.14 9.15 9.97 8.64 8.99 9.06 9.97 9.67 9.13 7.72
Inventory Turnover		 0.00 32.61 33.29 32.89 28.68 29.37 29.82 30.08 28.24 29.21 28.56
Fixed Asset Turnover		 0.84 0.82 0.79 0.80 0.71 0.72 0.75 0.76 0.70 0.68 0.65
Accounts Payable Turnover		 9.45 9.06 8.18 9.45 8.35 10.19 9.37 10.74 9.57 11.53 9.79
Days Sales Outstanding (DSO)		 46.35 39.95 39.89 36.61 42.27 40.59 40.27 36.60 37.75 39.97 47.28
Days Inventory Outstanding (DIO)		 0.00 11.19 10.97 11.10 12.72 12.43 12.24 12.13 12.92 12.49 12.78
Days Payable Outstanding (DPO)		 38.63 40.27 44.60 38.61 43.71 35.84 38.97 33.99 38.12 31.65 37.27
Cash Conversion Cycle (CCC)		 7.72 10.87 6.25 9.10 11.28 17.18 13.54 14.74 12.56 20.81 22.80
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 17,470 17,792 17,640 18,015 23,014 23,061 22,496 22,524 22,621 22,680 22,205
Invested Capital Turnover		 0.91 0.89 0.87 0.88 0.77 0.78 0.84 0.85 0.77 0.75 0.74
Increase / (Decrease) in Invested Capital		 1,063 1,253 746 641 5,544 5,269 4,856 4,509 -393 -381 -291
Enterprise Value (EV)		 35,033 33,772 37,623 35,421 33,234 30,065 32,224 27,889 29,527 30,130 37,975
Market Capitalization		 29,202 28,041 32,150 29,957 24,497 21,500 24,273 20,425 22,256 22,978 31,198
Book Value per Share		 $18.17 $18.82 $19.25 $19.86 $22.80 $22.07 $22.41 $23.45 $24.18 $24.75 $24.88
Tangible Book Value per Share		 $16.99 $17.65 $18.06 $18.67 $21.60 $20.92 $21.25 $22.28 $22.99 $23.55 $23.67
Total Capital		 18,231 18,667 18,789 19,184 23,690 23,907 23,730 24,283 23,899 24,114 24,020
Total Debt		 6,452 6,450 6,448 6,455 9,212 9,203 8,957 8,991 8,549 8,586 8,592
Total Long-Term Debt		 5,965 5,967 5,969 5,980 9,212 8,718 8,472 8,506 7,551 7,588 7,593
Net Debt		 5,691 5,575 5,299 5,286 8,536 8,357 7,723 7,232 7,271 7,152 6,777
Capital Expenditures (CapEx)		 904 917 885 1,029 4,479 1,036 809 600 1,029 931 1,027
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -392 -184 -538 -351 -350 -243 -462 -488 -455 -516 -788
Debt-free Net Working Capital (DFNWC)		 369 691 611 818 326 603 772 1,271 823 918 1,027
Net Working Capital (NWC)		 -118 208 132 343 326 118 287 786 -175 -80 28
Net Nonoperating Expense (NNE)		 81 71 78 67 97 120 118 100 81 71 91
Net Nonoperating Obligations (NNO)		 5,691 5,575 5,299 5,286 8,536 8,357 7,723 7,232 7,271 7,152 6,777
Total Depreciation and Amortization (D&A)		 649 651 722 768 796 977 918 917 883 893 908
Debt-free, Cash-free Net Working Capital to Revenue		 -2.54% -1.21% -3.58% -2.27% -2.23% -1.52% -2.75% -2.84% -2.60% -3.00% -4.76%
Debt-free Net Working Capital to Revenue		 2.39% 4.53% 4.06% 5.28% 2.08% 3.78% 4.60% 7.41% 4.71% 5.34% 6.21%
Net Working Capital to Revenue		 -0.77% 1.36% 0.88% 2.21% 2.08% 0.74% 1.71% 4.58% -1.00% -0.47% 0.17%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.43 $1.82 $0.95 $1.35 $1.31 $0.97 $0.77 $1.42 $1.09 $0.90 $0.19
Adjusted Weighted Average Basic Shares Outstanding		 640.70M 635M 632M 626.20M 656.90M 649M 642.10M 634.80M 627.30M 620M 621.40M
Adjusted Diluted Earnings per Share		 $1.42 $1.82 $0.94 $1.34 $1.30 $0.98 $0.77 $1.41 $1.09 $0.90 $0.19
Adjusted Weighted Average Diluted Shares Outstanding		 640.70M 635M 632M 626.20M 656.90M 649M 642.10M 634.80M 627.30M 620M 621.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 640.70M 635M 632M 626.20M 656.90M 649M 642.10M 634.80M 627.30M 620M 621.40M
Normalized Net Operating Profit after Tax (NOPAT)		 1,001 1,241 688 934 928 770 829 775 746 633 226
Normalized NOPAT Margin		 26.09% 29.93% 19.12% 23.84% 23.06% 17.48% 18.62% 18.09% 17.23% 15.35% 5.92%
Pre Tax Income Margin		 27.95% 34.50% 21.36% 26.55% 26.44% 19.08% 14.51% 27.10% 21.06% 18.13% 4.36%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 59.76% 50.32% 47.28% 38.62% 38.55% 33.58% 30.05% 26.93% 23.48% 23.95% 27.27%
Augmented Payout Ratio		 80.73% 76.20% 66.97% 58.22% 67.25% 69.51% 70.62% 66.39% 72.58% 72.81% 74.30%

Financials Breakdown Chart

Key Financial Trends

Devon Energy (DVN) has reported quarterly results across 2022–2025. The core story from the latest four years is solid cash generation and a stable balance sheet, tempered by some earnings softness in 2025 and a consistently high debt load.

  • Strong operating cash flow in recent quarters: Net cash from continuing operating activities was about $1.69B in Q3 2025 and about $1.53B in Q4 2025, indicating robust cash generation.
  • Positive free cash flow in recent quarters: roughly $0.60B per quarter in the latest periods (example: Q4 2025 ≈ $1.53B operating cash flow minus ≈ $0.93B capex).
  • Ongoing shareholder returns: cash dividends per share were $0.24 in 2025 Q4 (consistent with prior quarters), supporting a steady return of capital to investors.
  • sizable asset base supports operations: Total assets around $31B in 2025 (latest balance sheet readings show about $31.2B), reflecting a large, diversified asset footprint.
  • Gross profit remained robust: Total Gross Profit near $1.87B in 2025 Q4, underscoring ongoing profitability despite commodity-price volatility.
  • Revenue has been roughly flat across the window: Total revenue typically sits in the low-to-mid $4B range (e.g., around $4.12B–$4.40B across 2022–2025), with a mild dip in 2025 versus 2024.
  • Debt and leverage are persistent: Long-term debt generally sits in the $7–8B range, with total liabilities around $15–16B in 2025, indicating a sizable but traditional E&P balance sheet load.
  • Earnings per share fluctuate: 2025 quarters show lower diluted/ basic EPS (for example, Q4 2025 diluted EPS around $0.90) versus higher levels in some prior periods, reflecting commodity and cost dynamics.
  • Net income to common shareholders declined in 2025: Q4 2025 net income attributable to common shareholders was about $562M, down from higher levels in 2024 and earlier years.
  • Earnings per share softness persists: 2025 Q4 diluted EPS (~$0.90) marks a step-down from late-2024/early-2023 readings, suggesting earnings pressure in the current cycle.

Overall, Devon Energy shows strong, consistent cash generation and a solid balance sheet, with moderate top-line stability. The main headwinds are earnings volatility tied to commodity prices and a relatively high debt load that could constrain flexibility if commodity markets weaken. For retail investors, the story combines meaningful cash returns and prudent balance-sheet management, but with a caveat on near-term earnings durability during commodity swings.

05/18/26 08:57 PM ETAI Generated. May Contain Errors.

Devon Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Devon Energy's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Devon Energy's net income appears to be on an upward trend, with a most recent value of $2.68 billion in 2025, falling from -$13.65 billion in 2015. The previous period was $2.94 billion in 2024. Check out Devon Energy's forecast to explore projected trends and price targets.

Devon Energy's total operating income in 2025 was $3.95 billion, based on the following breakdown:
  • Total Gross Profit: $7.99 billion
  • Total Operating Expenses: $4.04 billion

Over the last 10 years, Devon Energy's total revenue changed from $13.15 billion in 2015 to $17.19 billion in 2025, a change of 30.8%.

Devon Energy's total liabilities were at $16.07 billion at the end of 2025, a 1.8% increase from 2024, and a 13.0% decrease since 2015.

In the past 10 years, Devon Energy's cash and equivalents has ranged from $0.00 in 2019 to $2.64 billion in 2017, and is currently $1.43 billion as of their latest financial filing in 2025.

Over the last 10 years, Devon Energy's book value per share changed from 17.15 in 2015 to 24.75 in 2025, a change of 44.3%.


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Financial statements for NYSE:DVN last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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