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Devon Energy vs Occidental Petroleum: revenue, profit, margins and growth compared

Devon Energy brought in $17.2B of revenue in fiscal 2025, Occidental Petroleum $21.6B in fiscal 2025. Revenue changed by +7.8% at Devon Energy and -4.9% at Occidental Petroleum on the year before, so Devon Energy grew faster. Devon Energy kept 15.4% of its revenue as net profit, Occidental Petroleum 7.5%. Free cash flow was $3.1B at Devon Energy and $4.1B at Occidental Petroleum.

Side by side, latest fiscal year

DVNOXY
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17.2B$21.6B
Revenue growth+7.8%-4.9%
Net income$2.6B$1.6B
Net margin15.4%7.5%
Free cash flow$3.1B$4.1B
Free cash flow margin18.1%19.0%
Earnings per share (diluted)$4.17$1.61
Cash$1.4B$2B
Debt$8.4B$21.4B
Price to earnings11.335.3
Market value$51.8B$56.8B
Dividend yieldn/a1.69%
Rank by revenue in sector#20 of 129 · Energy#17 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: $17.2BOXY FY2018: $17.8BOXY FY2019: $20.9BOXY FY2020: $17.8BOXY FY2021: $26BOXY FY2022: $36.6BOXY FY2023: $23.2BOXY FY2024: $22.7BOXY FY2025: $21.6BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $17.2BOXY $21.6B
Net income
DVN FY2018: $3.1BDVN FY2019: -$355MDVN FY2020: -$2.7BDVN FY2021: $2.8BDVN FY2022: $6BDVN FY2023: $3.7BDVN FY2024: $2.9BDVN FY2025: $2.6BOXY FY2018: $4.1BOXY FY2019: -$985MOXY FY2020: -$14.8BOXY FY2021: $2.3BOXY FY2022: $13.3BOXY FY2023: $4.7BOXY FY2024: $2.4BOXY FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $2.6BOXY $1.6B
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%OXY FY2018: 23.2%OXY FY2019: -4.7%OXY FY2020: -83.3%OXY FY2021: 8.9%OXY FY2022: 36.3%OXY FY2023: 20.2%OXY FY2024: 10.4%OXY FY2025: 7.5%FY18FY19FY20FY21FY22FY23FY24FY25
DVN 15.4%OXY 7.5%
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%OXY FY2019: +17.3%OXY FY2020: -14.8%OXY FY2021: +45.8%OXY FY2022: +41.1%OXY FY2023: -36.6%OXY FY2024: -2.2%OXY FY2025: -4.9%FY19FY20FY21FY22FY23FY24FY25
DVN +7.8%OXY -4.9%
Free cash flow
DVN FY2018: $1.5BDVN FY2019: $2BDVN FY2020: $311MDVN FY2021: $2.9BDVN FY2022: $6BDVN FY2023: $2.7BDVN FY2024: $3BDVN FY2025: $3.1BOXY FY2018: $2.7BOXY FY2019: $1BOXY FY2020: $1.4BOXY FY2021: $7.6BOXY FY2022: $12.3BOXY FY2023: $6.6BOXY FY2024: $5.2BOXY FY2025: $4.1BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $3.1BOXY $4.1B

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

Questions about Devon Energy and Occidental Petroleum

Which is bigger by revenue, Devon Energy or Occidental Petroleum?

Occidental Petroleum is bigger by revenue: $21.6B in fiscal 2025, against $17.2B for Devon Energy in fiscal 2025.

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

Devon Energy had a net margin of 15.4% in fiscal 2025; Occidental Petroleum had 7.5% in fiscal 2025.

Which grew revenue faster, Devon Energy or Occidental Petroleum?

In their latest fiscal years revenue changed by +7.8% at Devon Energy and -4.9% at Occidental Petroleum.

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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