DVNNYSECrude Petroleum & Natural GasFiscal year ends December 31
DEVON ENERGY CORP/DE
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$50.92+0.19 (+0.37%)
Close on Oct 19, 2026
- Market cap
- $47.86B
- P/E (TTM)
- 12.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
–
Net margin
15.4%+70.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.8% | -3.6% | +28.9% | +2.7% | |
| Net income | -8.7% | -24.1% | – | – | |
| EPS, diluted | -8.6% | -23.0% | – | – | |
| Free cash flow | +5.5% | -19.5% | +58.6% | -1.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -13.8% | -61.7% | 17.6% | |
| Return on assets | -3.6% | -22.7% | 8.5% | |
| Current ratio | 1.44 | 2.26 | 0.98 | |
| Debt to equity | 1.23 | 1.49 | 0.60 | |
| Capex to revenue | 12.6% | 23.9% | 20.9% | |
| Diluted shares | 507M | 377M | 633M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Devon Energy generated $33.28B from operations and spent $27.85B on capital expenditure, dividends and share buybacks. 56% of that went back into the business.
Generated
$33.28B
Used
$27.85B
Capital expenditure$15.65B56%Dividends$7.81B28%Share buybacks$4.39B16%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin15.4%
×Asset turnover0.55×
×Equity multiplier2.07×
=Return on equity, FY202517.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 15.4% | 0.55× | 2.07× | 17.6% |
| FY2024 | 18.1% | 0.58× | 2.07× | 21.8% |
| FY2023 | 24.5% | 0.64× | 2.06× | 32.2% |
| FY2022 | 31.5% | 0.87× | 2.17× | 59.0% |
| FY2021 | 23.0% | 0.79× | 2.55× | 46.3% |
| FY2020 | -55.5% | 0.41× | 2.72× | -61.7% |
| FY2019 | -5.7% | 0.37× | 2.22× | -4.7% |
| FY2018 | 34.4% | 0.36× | 2.70× | 33.2% |
| FY2017 | 13.8% | 0.22× | 3.36× | 10.2% |
| FY2016 | -15.6% | 0.23× | 3.81× | -13.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$2.64B
- Cash generatingOperating cash flow above zero$6.71B
- Return on assets improvedROA up on the prior year11.8% → 8.7%
- Earnings backed by cashOperating cash flow above net income$6.71B vs $2.64B
- Less leverageLong-term debt to assets fell27.5% → 23.4%
- Better liquidityCurrent ratio rose1.04 → 0.98
- No dilutionShare count did not rise634M → 633M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.65 → 0.56