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

Devon Energy brought in $17.2B of revenue in fiscal 2025, Ovintiv $8.9B in fiscal 2025. Revenue changed by +7.8% at Devon Energy and -2.7% at Ovintiv on the year before, so Devon Energy grew faster. Devon Energy kept 15.4% of its revenue as net profit, Ovintiv 13.9%. Free cash flow was $3.1B at Devon Energy and $1.5B at Ovintiv.

Side by side, latest fiscal year

DVNOVV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17.2B$8.9B
Revenue growth+7.8%-2.7%
Net income$2.6B$1.2B
Net margin15.4%13.9%
Free cash flow$3.1B$1.5B
Free cash flow margin18.1%16.9%
Earnings per share (diluted)$4.17$4.78
Cash$1.4B$35M
Debt$8.4B$5.2B
Price to earnings11.312.6
Market value$51.8B$17B
Dividend yieldn/a2.00%
Rank by revenue in sector#20 of 129 · Energy#25 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: $17.2BOVV FY2019: $5.9BOVV FY2019: $7BOVV FY2020: $6.1BOVV FY2021: $10.5BOVV FY2022: $14.3BOVV FY2023: $10.9BOVV FY2024: $9.2BOVV FY2025: $8.9BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $17.2BOVV $8.9B
Net income
DVN FY2018: $3.1BDVN FY2019: -$355MDVN FY2020: -$2.7BDVN FY2021: $2.8BDVN FY2022: $6BDVN FY2023: $3.7BDVN FY2024: $2.9BDVN FY2025: $2.6BOVV FY2019: $1.1BOVV FY2019: $234MOVV FY2020: -$6.1BOVV FY2021: $1.4BOVV FY2022: $3.6BOVV FY2023: $2.1BOVV FY2024: $1.1BOVV FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $2.6BOVV $1.2B
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%OVV FY2019: 18.0%OVV FY2019: 3.3%OVV FY2020: -100.2%OVV FY2021: 13.5%OVV FY2022: 25.5%OVV FY2023: 19.2%OVV FY2024: 12.3%OVV FY2025: 13.9%FY18FY19FY20FY21FY22FY23FY24FY25
DVN 15.4%OVV 13.9%
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%OVV FY2019: +18.1%OVV FY2020: -13.2%OVV FY2021: +72.0%OVV FY2022: +36.3%OVV FY2023: -23.7%OVV FY2024: -15.9%OVV FY2025: -2.7%FY19FY20FY21FY22FY23FY24FY25
DVN +7.8%OVV -2.7%
Free cash flow
DVN FY2018: $1.5BDVN FY2019: $2BDVN FY2020: $311MDVN FY2021: $2.9BDVN FY2022: $6BDVN FY2023: $2.7BDVN FY2024: $3BDVN FY2025: $3.1BOVV FY2019: $325MOVV FY2019: $295MOVV FY2020: $159MOVV FY2021: $1.6BOVV FY2022: $2BOVV FY2023: $1.4BOVV FY2024: $1.4BOVV FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $3.1BOVV $1.5B

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

Questions about Devon Energy and Ovintiv

Which is bigger by revenue, Devon Energy or Ovintiv?

Devon Energy is bigger by revenue: $17.2B in fiscal 2025, against $8.9B for Ovintiv in fiscal 2025.

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

Devon Energy had a net margin of 15.4% in fiscal 2025; Ovintiv had 13.9% in fiscal 2025.

Which grew revenue faster, Devon Energy or Ovintiv?

In their latest fiscal years revenue changed by +7.8% at Devon Energy and -2.7% at Ovintiv.

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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