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Devon Energy vs EXPAND ENERGY: revenue, profit, margins and growth compared

Devon Energy brought in $17.2B of revenue in fiscal 2025, EXPAND ENERGY $12.1B in fiscal 2025. Revenue changed by +7.8% at Devon Energy and +186.3% at EXPAND ENERGY on the year before, so EXPAND ENERGY grew faster. Devon Energy kept 15.4% of its revenue as net profit, EXPAND ENERGY 15.0%. Free cash flow was $3.1B at Devon Energy and $1.8B at EXPAND ENERGY.

Side by side, latest fiscal year

DVNEXE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17.2B$12.1B
Revenue growth+7.8%+186.3%
Net income$2.6B$1.8B
Net margin15.4%15.0%
Free cash flow$3.1B$1.8B
Free cash flow margin18.1%15.2%
Earnings per share (diluted)$4.17$7.57
Cash$1.4B$616M
Debt$8.4B$5B
Price to earnings11.311.5
Market value$51.8B$20.1B
Dividend yieldn/an/a
Rank by revenue in sector#20 of 129 · Energy#22 of 129 · Energy

Over the years

Revenue
DVN FY2018: $8.9BDVN FY2019: $6.7BDVN FY2020: $4.8BDVN FY2021: $13.8BDVN FY2022: $19.8BDVN FY2023: $15.3BDVN FY2024: $15.9BDVN FY2025: $17.2BEXE FY2017: $10BEXE FY2018: $10BEXE FY2019: $8.5BEXE FY2020: $5.2BEXE FY2022: $11.7BEXE FY2023: $8.7BEXE FY2024: $4.2BEXE FY2025: $12.1BFY17FY18FY19FY20FY21FY22FY23FY24FY25
DVN $17.2BEXE $12.1B
Net income
DVN FY2018: $3.1BDVN FY2019: -$355MDVN FY2020: -$2.7BDVN FY2021: $2.8BDVN FY2022: $6BDVN FY2023: $3.7BDVN FY2024: $2.9BDVN FY2025: $2.6BEXE FY2017: -$505MEXE FY2018: $226MEXE FY2019: -$308MEXE FY2020: -$9.7BEXE FY2022: $4.9BEXE FY2023: $2.4BEXE FY2024: -$714MEXE FY2025: $1.8BFY17FY18FY19FY20FY21FY22FY23FY24FY25
DVN $2.6BEXE $1.8B
Net margin
DVN FY2018: 34.4%DVN FY2019: -5.3%DVN FY2020: -55.5%DVN FY2021: 20.5%DVN FY2022: 30.4%DVN FY2023: 24.5%DVN FY2024: 18.1%DVN FY2025: 15.4%EXE FY2017: -5.0%EXE FY2018: 2.3%EXE FY2019: -3.6%EXE FY2020: -185.8%EXE FY2022: 42.0%EXE FY2023: 27.7%EXE FY2024: -16.9%EXE FY2025: 15.0%FY17FY18FY19FY20FY21FY22FY23FY24FY25
DVN 15.4%EXE 15.0%
Revenue growth
DVN FY2019: -25.0%DVN FY2020: -27.7%DVN FY2021: +184.8%DVN FY2022: +44.2%DVN FY2023: -23.0%DVN FY2024: +4.5%DVN FY2025: +7.8%EXE FY2018: -0.1%EXE FY2019: -14.9%EXE FY2020: -38.6%EXE FY2023: -25.7%EXE FY2024: -51.4%EXE FY2025: +186.3%FY18FY19FY20FY21FY22FY23FY24FY25
DVN +7.8%EXE +186.3%
Free cash flow
DVN FY2018: $1.5BDVN FY2019: $2BDVN FY2020: $311MDVN FY2021: $2.9BDVN FY2022: $6BDVN FY2023: $2.7BDVN FY2024: $3BDVN FY2025: $3.1BEXE FY2020: $22MEXE FY2022: $2.3BEXE FY2023: $551MEXE FY2024: $8MEXE FY2025: $1.8BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $3.1BEXE $1.8B

Fiscal years as each company reports them; the two may end in different months.

Questions about Devon Energy and EXPAND ENERGY

Which is bigger by revenue, Devon Energy or EXPAND ENERGY?

Devon Energy is bigger by revenue: $17.2B in fiscal 2025, against $12.1B for EXPAND ENERGY in fiscal 2025.

Which keeps more of its revenue as profit, Devon Energy or EXPAND ENERGY?

Devon Energy had a net margin of 15.4% in fiscal 2025; EXPAND ENERGY had 15.0% in fiscal 2025.

Which grew revenue faster, Devon Energy or EXPAND ENERGY?

In their latest fiscal years revenue changed by +7.8% at Devon Energy and +186.3% at EXPAND ENERGY.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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