| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.57B | $15.14B | $19.83B | $13.75B | $4.35B | $6.67B | $8.44B | $8.82B |
| Cost of Revenue | $11.30B | $9.94B | $10.85B | $8.54B | $4.60B | $5.56B | $6.83B | $7.41B |
| Gross Profit | $4.27B | $5.20B | $8.97B | $5.21B | $-252.00M | $1.11B | $1.61B | $1.41B |
| Gross Margin | 27.43% | 34.35% | 45.26% | 37.88% | -5.79% | 16.63% | 19.07% | 15.97% |
| Operating Expenses | $500.00M | $408.00M | $395.00M | $391.00M | $338.00M | $475.00M | $574.00M | $737.00M |
| Operating Income | $3.77B | $4.79B | $8.58B | $4.82B | $-590.00M | $635.00M | $1.03B | $672.00M |
| Operating Margin | 24.22% | 31.65% | 43.26% | 35.04% | -13.56% | 9.51% | 12.26% | 7.62% |
| Net Income | $2.89B | $3.75B | $6.01B | $2.78B | $-2.68B | $-357.00M | $3.06B | $898.00M |
| Net Margin | 18.57% | 24.75% | 30.34% | 20.24% | -61.69% | -5.35% | 36.31% | 10.18% |
| EPS (Basic) | $4.57 | $5.86 | $9.15 | $4.20 | $-7.12 | $-0.20 | $6.14 | $1.71 |
| EBITDA | $7.43B | $7.57B | $10.38B | $5.42B | $-1.36B | $1.66B | $2.54B | $2.90B |
| Stock Option Compensation Expense | $99.00M | $93.00M | $88.00M | $99.00M | $88.00M | $115.00M | $161.00M | $198.00M |
| Price To Earnings Ratio | 7.05 | 7.73 | 6.66 | 10.49 | -2.22 | -29.17 | 3.67 | 24.20 |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | $20.39B | $28.95B | $40.04B | $29.21B | $5.96B | $10.41B | $11.25B | $21.73B |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Short Term Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventories | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Property, Plant & Equipment | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Investments and Advances | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Note Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Intangible Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Assets | $30.49B | $24.49B | $23.72B | $21.02B | $9.91B | $13.72B | $19.57B | $30.24B |
| Short Term Debt Incl. Current Port. of LT Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Provision for Risks Charges | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $15.79B | $12.27B | $12.43B | $11.63B | $6.89B | $7.80B | $10.38B | $16.14B |
| Non-Equity Reserves | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Preferred Stock - Carrying Value | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Common Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Shareholders Equity | $14.50B | $12.06B | $11.17B | $9.26B | $2.88B | $5.80B | $9.19B | $9.25B |
| Accumulated Minority Interest | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $14.50B | $12.06B | $11.17B | $9.26B | $2.88B | $5.80B | $9.19B | $9.25B |
| Total Liabilities & Stockholders Equity | $30.49B | $24.49B | $23.72B | $21.02B | $9.91B | $13.72B | $19.57B | $30.24B |
| Book Value Per Share | $23.60 | $19.12 | $17.35 | $14.18 | $8.01 | $14.76 | $18.41 | $26.86 |
| Tangible Book Value Per Share | $22.39 | $17.94 | $16.20 | $13.04 | $6.01 | $12.89 | $16.90 | $22.41 |
| Full-Time Employees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Book Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 9.48% | 15.30% | 25.36% | 13.24% | -27.08% | -2.60% | 15.66% | 2.97% |
| Return on Equity | 19.94% | 31.07% | 53.86% | 30.05% | -93.03% | -6.15% | 33.36% | 9.70% |
| Return on Invested Capital | 10.80% | 17.80% | 31.92% | 26.26% | -5.73% | 3.90% | 4.91% | 2.49% |
| Quick Ratio | 0.95 | 0.99 | 1.19 | 1.34 | 2.26 | 2.00 | 1.99 | 1.45 |
| Current Ratio | 1.04 | 1.07 | 1.25 | 1.38 | 2.26 | 2.00 | 1.99 | 1.45 |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $2.89B | $3.75B | $6.01B | $2.78B | $-2.68B | $-357.00M | $3.06B | $898.00M |
| Depreciation | $3.29B | $2.58B | $2.26B | $2.16B | $1.45B | $1.51B | $1.32B | $1.81B |
| Other Funds (Non Cash) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Funds from Operations | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Extraordinary Item | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Changes in Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Taxes Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Operating Activities | $6.60B | $6.54B | $8.53B | $4.90B | $1.35B | $2.07B | $2.70B | $2.91B |
| Capital Expenditures | $7.45B | $3.95B | $5.13B | $2.01B | $1.16B | $1.94B | $2.51B | $2.81B |
| Net Assets From Acquisitions | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale of Fixed Assets and Businesses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase or Sale of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale Or Maturity of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Sources | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Investing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Dividends Paid | $937.00M | $1.86B | $3.38B | $1.31B | $257.00M | $140.00M | $149.00M | $127.00M |
| Change in Capital Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Repurchase of Common Pref Stock | $1.06B | $979.00M | $718.00M | $589.00M | $38.00M | $1.85B | $2.96B | $46.00M |
| Sale of Common Pref Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Proceeds from Stock Options | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance or Reduction of Debt, Net | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Reduction of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Financing Active Other Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Financing Activities Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Financing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Exchange Rate Effect | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Change in Cash | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $-853.00M | $2.60B | $3.40B | $2.89B | $193.00M | $130.00M | $198.00M | $104.00M |
| Preferred Dividends (Cash Flow) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Company coverage
As an independent energy producer, Devon Energy Corporation primarily focuses on the exploration, development, and extraction of oil, natural gas, and natural gas liquids within the United States. The company manages roughly 5,134 gross wells. Established in 1971, its corporate headquarters are located in Oklahoma City, Oklahoma.
Why it moved over time
Devon Energy (DVN) reported stronger-than-expected Q2 results after its Coterra merger, boosting cash flow, raising its dividend and accelerating buybacks—signaling faster debt reduction and enhanced shareholder returns.
Key fact: Devon returned $1,063 million during the quarter through an increased dividend, share repurchases and retirement of maturing debt.
SEC: Devon Energy Reports Second-Quarter 2026 ResultsDevon's Q2 earnings beat and $1.7B free cash flow—driven by higher oil prices and the Coterra merger—alongside an $8B buyback program likely underpin investor reaction.
Key fact: Q2 EPS $1.57 vs $1.30 est; $1.7B free cash flow; Coterra merger raised production ~66%; $8B share buyback plan.
seekingalpha.com: Devon Energy Corporation (DVN) Q2 2026 Earnings Call TranscriptDevon reported Q2 EPS of $1.57 versus a $1.30 estimate, its highest quarterly profit since 2022, driven by higher oil prices and post‑merger production—an earnings beat that likely explains recent activity.
Key fact: Q2 EPS $1.57 vs Zacks consensus $1.30; company reported highest quarterly profit since 2022 and provided a Q3 outlook.
zacks.com: Devon Energy (DVN) Q2 Earnings and Revenues Beat EstimatesUpcoming Q2 earnings, where analysts expect sharp earnings and revenue growth driven by Coterra-driven production gains and cost controls, is the likely catalyst as it will update investors on profitability and guidance.
Key fact: Analysts anticipate sharp Q2 earnings and revenue growth for Devon due to Coterra-driven production gains and cost controls.
zacks.com: Devon Energy Set to Report Q2 Earnings: What's in Store for the Stock?Investors are focused on Devon's upcoming Q2 results, with forecasts for sharp earnings and revenue growth—driven by Coterra-related production gains and cost controls—that could reshape near-term outlook.
Key fact: Analysts expect sharp Q2 earnings and revenue growth backed by Coterra-driven production gains and cost controls.
zacks.com: Devon Energy Set to Report Q2 Earnings: What's in Store for the Stock?