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Devon Energy vs Diamondback Energy: revenue, profit, margins and growth compared

Devon Energy brought in $17.2B of revenue in fiscal 2025, Diamondback Energy $15B in fiscal 2025. Revenue changed by +7.8% at Devon Energy and +35.8% at Diamondback Energy on the year before, so Diamondback Energy grew faster. Devon Energy kept 15.4% of its revenue as net profit, Diamondback Energy 11.1%.

Side by side, latest fiscal year

DVNFANG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17.2B$15B
Revenue growth+7.8%+35.8%
Net income$2.6B$1.7B
Net margin15.4%11.1%
Free cash flow$3.1Bn/a
Free cash flow margin18.1%n/a
Earnings per share (diluted)$4.17$5.73
Cash$1.4B$104M
Debt$8.4B$13.7B
Price to earnings11.332.6
Market value$51.8B$52.3B
Dividend yieldn/a2.14%
Rank by revenue in sector#20 of 129 · Energy#21 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: $17.2BFANG FY2018: $2.2BFANG FY2019: $4BFANG FY2020: $2.8BFANG FY2021: $6.8BFANG FY2022: $9.6BFANG FY2023: $8.4BFANG FY2024: $11.1BFANG FY2025: $15BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $17.2BFANG $15B
Net income
DVN FY2018: $3.1BDVN FY2019: -$355MDVN FY2020: -$2.7BDVN FY2021: $2.8BDVN FY2022: $6BDVN FY2023: $3.7BDVN FY2024: $2.9BDVN FY2025: $2.6BFANG FY2018: $846MFANG FY2019: $240MFANG FY2020: -$4.5BFANG FY2021: $2.2BFANG FY2022: $4.4BFANG FY2023: $3.1BFANG FY2024: $3.3BFANG FY2025: $1.7BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $2.6BFANG $1.7B
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%FANG FY2018: 38.9%FANG FY2019: 6.1%FANG FY2020: -160.6%FANG FY2021: 32.1%FANG FY2022: 45.5%FANG FY2023: 37.4%FANG FY2024: 30.2%FANG FY2025: 11.1%FY18FY19FY20FY21FY22FY23FY24FY25
DVN 15.4%FANG 11.1%
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%FANG FY2019: +82.1%FANG FY2020: -29.0%FANG FY2021: +141.6%FANG FY2022: +41.9%FANG FY2023: -12.8%FANG FY2024: +31.6%FANG FY2025: +35.8%FY19FY20FY21FY22FY23FY24FY25
DVN +7.8%FANG +35.8%
Free cash flow
DVN FY2018: $1.5BDVN FY2019: $2BDVN FY2020: $311MDVN FY2021: $2.9BDVN FY2022: $6BDVN FY2023: $2.7BDVN FY2024: $3BDVN FY2025: $3.1BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $3.1BFANG

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

Questions about Devon Energy and Diamondback Energy

Which is bigger by revenue, Devon Energy or Diamondback Energy?

Devon Energy is bigger by revenue: $17.2B in fiscal 2025, against $15B for Diamondback Energy in fiscal 2025.

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

Devon Energy had a net margin of 15.4% in fiscal 2025; Diamondback Energy had 11.1% in fiscal 2025.

Which grew revenue faster, Devon Energy or Diamondback Energy?

In their latest fiscal years revenue changed by +7.8% at Devon Energy and +35.8% at Diamondback 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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