Stocks DVN Financial statements
Financial statementsDEVON ENERGY CORP/DE financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data DEVON ENERGY CORP/DE files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6,753 | 6,501 | 8,896 | 6,674 | 4,828 | 13,750 | 19,827 | 15,258 | 15,940 | 17,188 |
| Cost of revenue | 2,821 | 3,559 | 4,321 | 2,812 | ||||||
| Gross profit | 3,932 | 2,942 | 4,575 | 3,862 | ||||||
| General and administrative | 733 | 645 | 574 | 475 | 338 | 391 | 395 | 408 | 500 | 492 |
| Operating expenses | 13,132 | 11,476 | 12,998 | 14,507 | ||||||
| Operating income | -2,895 | |||||||||
| Interest expense | 488 | 337 | 287 | 260 | 259 | 388 | 370 | 369 | 401 | 497 |
| Interest income | 32 | 33 | 12 | 2 | 38 | 55 | 62 | 56 | ||
| Other non-operating income | -78 | |||||||||
| Pre-tax income | -433 | 40 | 944 | -109 | -3,090 | 2,898 | 7,775 | 4,623 | 3,712 | 3,466 |
| Income tax | 141 | 7 | 230 | -30 | -547 | 65 | 1,738 | 841 | 770 | 785 |
| Income from continuing operations | -574 | 33 | 714 | -79 | -2,543 | 2,833 | 6,037 | |||
| Net income to minority interests | -402 | 180 | 160 | 2 | 9 | 20 | 22 | 35 | 51 | 39 |
| Net income | -1,056 | 898 | 3,064 | -355 | -2,680 | 2,813 | 6,031 | 3,739 | 2,893 | 2,642 |
| EBITDA | -1,303 | |||||||||
| EPS, basic | -2.09 | 1.71 | 6.14 | -0.89 | -7.12 | 4.20 | 9.15 | 5.86 | 4.58 | 4.18 |
| EPS, diluted | -2.09 | 1.70 | 6.10 | -0.89 | -7.12 | 4.19 | 9.12 | 5.84 | 4.56 | 4.17 |
| Shares, basic (weighted) | 507 | 520 | 494 | 401 | 377 | 663 | 651 | 639 | 632 | 632 |
| Shares, diluted (weighted) | 507 | 520 | 497 | 401 | 377 | 665 | 653 | 642 | 634 | 633 |
Balance sheet
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 1,947 | 2,642 | 2,414 | 1,464 | 2,047 | 2,099 | 1,314 | 853 | 811 | 1,384 |
| Receivables | 1,356 | 989 | 812 | 832 | 601 | 1,543 | 1,767 | 1,573 | 1,972 | 1,792 |
| Inventory | 114 | 201 | 249 | 294 | 336 | |||||
| Other current assets | 264 | 400 | 880 | 232 | 248 | 321 | 469 | 460 | 315 | 444 |
| Total current assets | 3,772 | 4,791 | 4,437 | 3,851 | 3,260 | 4,249 | 3,891 | 3,157 | 3,427 | 4,006 |
| Property, plant and equipment | 14,276 | 14,584 | 8,462 | 8,593 | 5,393 | 15,008 | 18,106 | 19,328 | 25,011 | 25,419 |
| Lease right-of-use assets | 14 | 3 | 24 | 21 | 21 | 55 | 276 | |||
| Goodwill | 2,383 | 841 | 753 | 753 | 753 | 753 | 753 | 753 | 753 | 753 |
| Intangible assets | 1,624 | 1,497 | ||||||||
| Other non-current assets | 1,987 | 296 | 276 | 196 | 271 | 378 | 307 | 319 | 268 | 395 |
| Total assets | 28,675 | 30,241 | 19,566 | 13,717 | 9,912 | 21,025 | 23,271 | 24,490 | 30,489 | 31,599 |
| Accounts payable | 642 | 633 | 530 | 428 | 242 | 500 | 859 | 760 | 806 | 790 |
| Short-term debt | 0 | 115 | 162 | 0 | 0 | 0 | 251 | 483 | 485 | 998 |
| Total current liabilities | 2,616 | 3,315 | 2,226 | 1,927 | 1,440 | 3,087 | 3,105 | 2,949 | 3,309 | 4,086 |
| Long-term debt | 10,154 | 6,749 | 4,292 | 4,294 | 4,298 | 6,482 | 6,189 | 5,672 | 8,398 | 7,391 |
| Lease liabilities | 4 | 2 | 5 | 8 | 9 | 27 | 181 | |||
| Other non-current liabilities | 894 | 549 | 411 | 426 | 551 | 1,050 | 900 | 876 | 840 | 907 |
| Total liabilities | 15,953 | 16,137 | 10,380 | 7,797 | 6,893 | 11,626 | 12,425 | 12,273 | 15,785 | 16,071 |
| Total debt | 10,154 | 6,749 | 4,292 | 4,294 | 4,298 | 6,482 | 6,440 | 6,155 | 8,883 | 8,389 |
| Paid-in capital | 7,237 | 7,333 | 4,486 | 2,735 | 2,766 | 7,636 | 6,921 | 5,939 | 6,387 | 5,388 |
| Retained earnings | -69 | 702 | 3,650 | 3,148 | 208 | 1,692 | 4,297 | 6,195 | 8,166 | 10,200 |
| Treasury stock | -22 | 0 | 0 | -13 | 0 | 0 | ||||
| Other comprehensive income | 1,054 | 1,166 | 1,027 | -119 | -127 | -132 | -116 | -124 | -122 | -122 |
| Shareholders' equity | 8,274 | 9,254 | 9,186 | 5,802 | 2,885 | 9,262 | 11,167 | 12,061 | 14,496 | 15,528 |
| Minority interests | 4,448 | 4,850 | 118 | 134 | 137 | 129 | 156 | 208 | 0 | |
| Total equity | 12,722 | 14,104 | 9,186 | 5,920 | 3,019 | 9,399 | 11,296 | 12,217 | 14,704 | 15,528 |
| Total liabilities and equity | 28,675 | 30,241 | 19,566 | 13,717 | 9,912 | 21,025 | 23,721 | 24,490 | 30,489 | 31,599 |
Cash flow statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -1,458 | 1,078 | 3,224 | -353 | -2,671 | 2,833 | 6,037 | 3,782 | 2,942 | 2,681 |
| Depreciation and amortization | 1,592 | 1,008 | 1,228 | 1,497 | 1,300 | 2,158 | 2,223 | 2,554 | 3,255 | 3,595 |
| Stock-based compensation | 203 | 126 | 137 | 115 | 88 | 99 | 88 | 93 | 99 | 99 |
| Deferred income tax | 43 | -2 | 247 | -25 | -328 | 49 | 1,179 | 376 | 311 | 484 |
| Change in receivables | -58 | -139 | -69 | -3 | 231 | -526 | -142 | 191 | -170 | 183 |
| Cash from operations | 1,500 | 2,909 | 1,583 | 2,043 | 1,464 | 4,899 | 8,530 | 6,544 | 6,600 | 6,711 |
| Capital expenditures | -849 | -44 | -55 | -31 | -1,153 | -1,989 | -2,542 | -3,883 | -3,645 | -3,592 |
| Purchases of investments | -25 | -76 | -53 | -118 | -62 | |||||
| Cash from investing | -594 | -2,210 | -1,671 | -1,551 | -1,127 | -1,574 | -5,123 | -3,942 | -7,332 | -3,393 |
| Debt issued | 0 | 0 | 3,219 | 0 | ||||||
| Debt repaid | -2,492 | -2,118 | -922 | -162 | 0 | -1,243 | 0 | -242 | -472 | -485 |
| Stock issued | 1,469 | |||||||||
| Share buybacks | -2,956 | -1,849 | -38 | -589 | -718 | -979 | -1,057 | -1,050 | ||
| Dividends paid | -221 | -127 | -149 | -140 | -257 | -1,315 | -3,379 | -1,858 | -937 | -619 |
| Cash from financing | -1,196 | 9 | -4,377 | -2,061 | -306 | -3,292 | -4,213 | -3,184 | 706 | -2,730 |
| Exchange rate effect | -61 | 6 | 206 | 0 | 1 | -11 | 3 | -3 | 0 | |
| Net change in cash | -351 | 725 | -238 | -602 | 393 | 34 | -817 | -579 | -29 | 588 |
| Free cash flow | 651 | 2,865 | 1,528 | 2,012 | 311 | 2,910 | 5,988 | 2,661 | 2,955 | 3,119 |
| Interest paid | 569 | 481 | 385 | 308 | 259 | 404 | 370 | 378 | 366 | 509 |
| Income taxes paid | -159 | 78 | 40 | 6 | 171 | -116 | 438 | 400 | 480 | 186 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 20.8% | Pre-tax income / revenue. |
| Net margin | 16.2% | Net income / revenue. |
| FCF margin | 23.1% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 42.2% | Cash from operations / revenue. |
| Effective tax rate | 21.9% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 7.9% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 4.6% | Net income / average total assets. |
| Stock-based pay / revenue | 0.7% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 19.0% | Capital expenditures / revenue. |
| D&A / revenue | 20.2% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 7.8% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | -4.6% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 28.9% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | -8.7% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -24.1% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS growth, 1y | -8.6% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -23.0% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 1.7% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -7.7% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 35.6% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | 5.5% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -19.5% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 58.6% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 7.1% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 11.6% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 40.0% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 3.6% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 10.7% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 26.1% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -0.2% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | -1.0% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 10.9% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 0.72x | Current assets / current liabilities. |
| Quick ratio | 0.58x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.13x | (Cash + short-term investments) / current liabilities. |
| Debt / equity | 0.27x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 16.1% | Total debt / total assets. |
| Liabilities / assets | 41.1% | Total liabilities / total assets. |
| Net debt | $10.44B | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Working capital | -$1.99B | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 1.1% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $40.99B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.29x | Revenue / average total assets. |
| Fixed asset turnover | 0.32x | Revenue / average property, plant and equipment. |
| Receivables turnover | 6.41x | Revenue / average receivables. |
| Days sales outstanding | 57 days | 365 x average receivables / revenue. |
| FCF conversion | 143.1% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 45.1% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $3.49 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $21.57 | Revenue / diluted weighted shares. |
| FCF per share | $4.99 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $9.10 | Cash from operations / diluted weighted shares. |
| Book value per share | $44.41 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $43.61 | Tangible book value / shares outstanding. |
| Cash per share | $1.01 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 25.0% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 17.5% | Dividends paid / free cash flow, when free cash flow is positive. |
| Buybacks / FCF | 16.3% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $51.76B | Share price x shares outstanding. |
| Enterprise value | $62.19B | Market cap + total debt - cash - short-term investments. |
| P/E | 15.8x | Market cap / net income. Only when net income is positive. |
| P/S | 2.55x | Market cap / revenue. |
| P/B | 1.24x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 1.26x | Market cap / tangible book value, when positive. |
| P/FCF | 11.0x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 6.05x | Market cap / cash from operations, when positive. |
| EV/Sales | 3.07x | Enterprise value / revenue. |
| EV/FCF | 13.2x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 9.1% | Free cash flow / market cap. |
| Earnings yield | 6.3% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 1.6% | Dividends paid over the period / market cap. |
| Shareholder yield | 3.1% | (Dividends paid + share buybacks) / market cap. |
What was DEVON ENERGY CORP/DE's revenue in fiscal 2025?
DEVON ENERGY CORP/DE reported revenue of $17.19B for fiscal 2025, 7.8% higher than the year before.
Was DEVON ENERGY CORP/DE profitable in fiscal 2025?
Yes. Net income was $2.64B, a net margin of 15.4%.
How much free cash flow did DEVON ENERGY CORP/DE generate in fiscal 2025?
Cash from operations of $6.71B minus capital expenditures of $3.59B left free cash flow of $3.12B.