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Stocks · Energy · Crude Petroleum & Natural Gas

Devon Energy

DVN Clue Score52
United States Fiscal year ends December CIK 0001090012
$48.26 -1.35% Close, 9 Oct 2026
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Price $48.26 +22.33% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2.77Operating income−2.90Net income−1.06EPS, diluted−2.09Fiscal year 2017Revenue3.51 +26.7%Net income0.90EPS, diluted1.70Fiscal year 2018Revenue8.44 +140.2%Net income3.06 +241.2%EPS, diluted6.10Fiscal year 2019Revenue6.67 −20.9%Net income−0.36 −111.6%EPS, diluted−0.89Fiscal year 2020Revenue4.67 −30.0%Net income−2.68EPS, diluted−7.12Fiscal year 2021Revenue13.75 +194.2%Net income2.81EPS, diluted4.19Fiscal year 2022Revenue19.83 +44.2%Net income6.03 +114.4%EPS, diluted9.12Fiscal year 2023Revenue15.14 −23.6%Net income3.74 −38.0%EPS, diluted5.84Fiscal year 2024Revenue15.92 +5.1%Net income2.89 −22.6%EPS, diluted4.56Fiscal year 2025Revenue16.79 +5.4%Net income2.64 −8.7%EPS, diluted4.17
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.77 3.51 8.44 6.67 4.67 13.75 19.83 15.14 15.92 16.79
Growth +26.7% +140.2% −20.9% −30.0% +194.2% +44.2% −23.6% +5.1% +5.4%
Operating income −2.90 n/a n/a n/a n/a n/a n/a n/a n/a n/a
Net income −1.06 0.90 3.06 −0.36 −2.68 2.81 6.03 3.74 2.89 2.64
Growth +241.2% −111.6% +114.4% −38.0% −22.6% −8.7%
EPS, diluted −2.09 1.70 6.10 −0.89 −7.12 4.19 9.12 5.84 4.56 4.17

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−104.4%Net margin−38.1%Free cash flow margin23.5%Fiscal year 2017Net margin25.6%Free cash flow margin81.6%Fiscal year 2018Net margin36.3%Free cash flow margin18.1%Fiscal year 2019Net margin−5.3%Free cash flow margin30.1%Fiscal year 2020Net margin−57.4%Free cash flow margin6.7%Fiscal year 2021Net margin20.5%Free cash flow margin21.2%Fiscal year 2022Net margin30.4%Free cash flow margin30.2%Fiscal year 2023Net margin24.7%Free cash flow margin17.6%Fiscal year 2024Net margin18.2%Free cash flow margin18.6%Fiscal year 2025Net margin15.7%Free cash flow margin18.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −104.4% n/a n/a n/a n/a n/a n/a n/a n/a n/a
Net margin −38.1% 25.6% 36.3% −5.3% −57.4% 20.5% 30.4% 24.7% 18.2% 15.7%
Free cash flow margin 23.5% 81.6% 18.1% 30.1% 6.7% 21.2% 30.2% 17.6% 18.6% 18.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.50Capital expenditure−0.85Free cash flow0.65Fiscal year 2017Operating cash flow2.91Capital expenditure−0.04Free cash flow2.87 +340.1%Fiscal year 2018Operating cash flow1.58Capital expenditure−0.06Free cash flow1.53 −46.7%Buybacks−2.96Fiscal year 2019Operating cash flow2.04Capital expenditure−0.03Free cash flow2.01 +31.7%Buybacks−1.85Dividends paid−0.14Fiscal year 2020Operating cash flow1.46Capital expenditure−1.15Free cash flow0.31 −84.5%Buybacks−0.04Dividends paid−0.26Fiscal year 2021Operating cash flow4.90Capital expenditure−1.99Free cash flow2.91 +835.7%Buybacks−0.59Dividends paid−1.32Fiscal year 2022Operating cash flow8.53Capital expenditure−2.54Free cash flow5.99 +105.8%Buybacks−0.72Dividends paid−3.38Fiscal year 2023Operating cash flow6.54Capital expenditure−3.88Free cash flow2.66 −55.6%Buybacks−0.98Dividends paid−1.86Fiscal year 2024Operating cash flow6.60Capital expenditure−3.65Free cash flow2.96 +11.0%Buybacks−1.06Dividends paid−0.94Fiscal year 2025Operating cash flow6.71Capital expenditure−3.59Free cash flow3.12 +5.5%Buybacks−1.05
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.50 2.91 1.58 2.04 1.46 4.90 8.53 6.54 6.60 6.71
Capital expenditure −0.85 −0.04 −0.06 −0.03 −1.15 −1.99 −2.54 −3.88 −3.65 −3.59
Free cash flow 0.65 2.87 1.53 2.01 0.31 2.91 5.99 2.66 2.96 3.12
Growth +340.1% −46.7% +31.7% −84.5% +835.7% +105.8% −55.6% +11.0% +5.5%
Buybacks n/a n/a −2.96 −1.85 −0.04 −0.59 −0.72 −0.98 −1.06 −1.05
Dividends paid n/a n/a n/a −0.14 −0.26 −1.32 −3.38 −1.86 −0.94 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash1.95Total debt10.15Net cash (debt)−8.21Shareholders’ equity8.27Debt to equity1.23Fiscal year 2017Cash2.64Total debt6.75Net cash (debt)−4.11Shareholders’ equity9.25Debt to equity0.73Fiscal year 2018Cash2.41Total debt4.29Net cash (debt)−1.88Shareholders’ equity9.19Debt to equity0.47Fiscal year 2019Cash1.46Total debt4.29Net cash (debt)−2.83Shareholders’ equity5.80Debt to equity0.74Fiscal year 2020Cash2.05Total debt4.30Net cash (debt)−2.25Shareholders’ equity2.89Debt to equity1.49Fiscal year 2021Cash2.10Total debt6.48Net cash (debt)−4.38Shareholders’ equity9.26Debt to equity0.70Fiscal year 2022Cash1.31Total debt6.44Net cash (debt)−5.13Shareholders’ equity11.17Debt to equity0.58Fiscal year 2023Cash0.85Total debt6.16Net cash (debt)−5.30Shareholders’ equity12.06Debt to equity0.51Fiscal year 2024Cash0.81Total debt8.88Net cash (debt)−8.07Shareholders’ equity14.50Debt to equity0.61Fiscal year 2025Cash1.38Total debt8.39Net cash (debt)−7.01Shareholders’ equity15.53Debt to equity0.54
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.95 2.64 2.41 1.46 2.05 2.10 1.31 0.85 0.81 1.38
Total debt 10.15 6.75 4.29 4.29 4.30 6.48 6.44 6.16 8.88 8.39
Net cash (debt) −8.21 −4.11 −1.88 −2.83 −2.25 −4.38 −5.13 −5.30 −8.07 −7.01
Shareholders’ equity 8.27 9.25 9.19 5.80 2.89 9.26 11.17 12.06 14.50 15.53
Debt to equity 1.23 0.73 0.47 0.74 1.49 0.70 0.58 0.51 0.61 0.54

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−104.4% n/a n/a n/a n/a n/a n/a n/a n/a n/a
−15.6% 1.1% 11.2% −1.6% −66.1% 21.1% 39.2% 30.5% 23.3% 20.6%
−38.1% 25.6% 36.3% −5.3% −57.4% 20.5% 30.4% 24.7% 18.2% 15.7%
23.5% 81.6% 18.1% 30.1% 6.7% 21.2% 30.2% 17.6% 18.6% 18.6%
Spending
26.4% 18.4% 6.8% 7.1% 7.2% 2.8% 2.0% 2.7% 3.1% 2.9%
30.6% 1.3% 0.7% 0.5% 24.7% 14.5% 12.8% 25.6% 22.9% 21.4%
n/a 17.5% 24.4% n/a n/a 2.2% 22.4% 18.2% 20.7% 22.6%
Returns
−12.8% 9.7% 33.4% −6.1% −92.9% 30.4% 54.0% 31.0% 20.0% 17.0%
−3.7% 3.0% 15.7% −2.6% −27.0% 13.4% 25.9% 15.3% 9.5% 8.4%
Balance and payout
1.23 0.73 0.47 0.74 1.49 0.70 0.58 0.51 0.61 0.54
n/a n/a n/a n/a n/a 46.7% 56.0% 49.7% 32.4% n/a
n/a n/a 193.5% 98.9% 94.9% 65.4% 68.4% 106.6% 67.5% 33.7%