Friday 6 November 2026 Export DVN’s income statement to Excel — free account

Devon Energy Corporation

Devon Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $17.2 billion, up 7.83% from fiscal 2024.

Revenue: +73.1%
EPS: +43.7%
Free cash flow: −130.2%
Total debt: +28.3%

Quarter to June 2026, against a year earlier

43.05 1.07 −2.43%

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Market cap: $47.2B
P/E: 10.2×
Fwd P/E: 9.6×
Dividend yield: 2.60%
F-score: 5/9
Altman Z: 2.22
Beneish M: −3.14
Dividend safety: 66/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Devon Energy Corporation (DVN) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2024: revenue by products and services, and margins
Oil, Gas and NGL Sales	11,176	70.11%
Marketing and Midstream Revenues	4,743	29.76%
Gross margin		80.03%
Operating margin		23.29%
Pre-tax margin		23.29%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021
Oil, Gas and NGL Sales	11,223 66.86%	11,176 70.21%	10,791 71.27%	14,082 71.02%	9,531 69.32%
Marketing and Midstream Revenues	5,563 33.14%	4,743 29.79%	4,349 28.73%	5,745 28.98%	4,219 30.68%
Revenue	16,786	15,919	15,140	19,827	13,750

Gross profit by product or service $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021
Marketing and Midstream Expenses	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡
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	‡	‡	‡	‡	‡
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Revenue by segment $m

Line	FY2015	FY2014	FY2013	FY2012
United States Business	8,360 63.60%	14,854 71.97%	6,807 65.47%	6,098 64.18%
General Partner And En Link	3,773 28.70%	2,649 12.84%	934 8.98%	803 8.45%
Canada Business	1,012 7.70%	2,063 10.00%	2,656 25.55%	2,600 27.37%
Other, not broken out	—	1,072 5.19%	—	—
Revenue	13,145	20,638	10,397	9,501

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Average lateral length	Q3 FY2026	11.4K	10.3K	+10.68%
Completion crews	Q3 FY2026	8.00	5.00	+60.00%
Lease operating expense and gathering, processing and transportation costs	Q4 FY2025	$8.60	—	—
Net operated wells placed online	Q3 FY2026	124.00	102.00	+21.57%
Oil production	Q3 FY2026	553.0K	390.0K	+41.79%
Oil share of total volumes	Q1 FY2026	46.0%	—	—
Operated drilling rigs	Q3 FY2026	32.00	17.00	+88.24%
Production	Q3 FY2026	1.7M	853.0K	+95.55%
Production costs	Q2 FY2026	$11.27	$11.75	−4.09%
Remaining performance obligations	Q2 FY2026	$5.3B	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Average lateral length	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Completion crews	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Lease operating expense and gathering, processing and transportation costs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net operated wells placed online	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Oil production	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Oil share of total volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operated drilling rigs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Production	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Production costs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.