Saturday 17 October 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. In the quarter to June 2026, revenue grew 73.1%, EPS grew 43.7%, free cash flow fell 130.2% and total debt rose 28.3%, each against the same quarter a year earlier. Member of the S&P 500; insiders bought in the last twelve months.

50.68 1.44 +2.92%

Follow DVN

Alert me

Market cap: $54.2B
P/E: 12.0×
Fwd P/E: 8.8×
Dividend yield: 2.21%
F-score: 5/9
Altman Z: 2.22
Beneish M: −3.14
Dividend safety: 66/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Share dilution Aug 5, 2026

All filings →

Insider Decisions trades per month

Total buys 0.20

Total sells 5.60

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	1	—
Sell	—	—	—	—	—	—	2	1	—	—	1	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 54,160.00

Revenue 19,676.00

Net Income 3,286.00

Free Cash Flow 1,607.00

Net Debt 10,379.00

Current Ratio 0.72

Debt/Equity 0.27

P/E ratio 11.98

Fwd P/E 8.79

P/S ratio 2.41

P/B ratio 1.14

Past 5Y EPS Growth —

This Y EPS Growth 35.97%

Next Y EPS Growth (4.44%)

Next Y revenue growth 48.00%

Next 5Y EPS Growth 10.62%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 80.05%

10-year low 10-year high

P/S against its own 10 years 71.95%

10-year low 10-year high

P/B against its own 10 years 8.59%

10-year low 10-year high

EV/Sales against its own 10 years 69.63%

10-year low 10-year high

EV/FCF against its own 10 years 86.53%

10-year low 10-year high

Dividends

Payout Ratio 0.27

Annual Dividend Rate 1.12

Annual Dividend Yield 2.21%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.11	0.24 0.32 0.32
2025	0.96	0.24 0.24 0.24 0.24
2024	0.66	0.44 0.22 0.22 0.22
2023	0.60	0.20 0.20 0.20 0.57
2022	0.36	0.84 1.11 0.18 0.18
2021	0.45	0.19 0.34 0.23 0.11 0.73
2020	0.42	0.09 0.11 0.26 0.11 0.11
2019	0.35	0.08 0.09 0.09 0.09
2018	0.30	0.06 0.08 0.08 0.08
2017	0.24	0.06 0.06 0.06 0.06
2016	0.42	0.24 0.06 0.06 0.06

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	875	846	1,434	1,009
Receivables	1,573	1,972	1,792	3,162
Inventory	249	294	336	356
Other	460	315	444	522
	3,157	3,427	4,006	5,049

	2023	2024	2025	Q'26
Payables	1,982	806	790	1,626
ST’ Debt	483	485	998	1,497
Other	484	586	807	1,052
	2,949	3,309	4,086	7,040

Compound Annual Growth %

	10y	5y	3y
Sales	2.72%	28.91%	(3.57%)
Cash Flow	3.20%	35.60%	(7.68%)
Earnings	0.00%	0.00%	(23.99%)
Book Value	3.52%	38.76%	11.19%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3,807	7,417	—	—	—
’25	4,452	4,284	4,331	4,121	17,188
’24	3,596	3,917	4,024	4,403	15,940
’23	3,823	3,454	3,836	4,145	15,258
’22	3,812	5,626	5,432	4,299	19,169
’21	2,050	2,417	3,466	4,273	12,206
’20	2,087	394	1,067	1,280	4,828

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,655	3,674	—	—	—
’25	1,942	1,545	1,690	1,534	6,711
’24	1,738	1,535	1,663	1,664	6,600
’23	1,677	1,405	1,725	1,737	6,544
’22	1,837	2,678	2,104	1,911	8,530
’21	592	1,093	1,598	1,616	4,899
’20	529	150	427	358	1,464

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	628	(285)	—	—	—
’25	1,133	945	661	603	3,342
’24	853	596	(2,906)	628	(829)
’23	673	309	821	820	2,623
’22	1,325	2,014	(985)	1,090	3,444
’21	108	633	1,115	1,115	2,971
’20	129	(159)	224	143	337

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.19	2.03	—	—	—
’25	0.77	1.41	1.09	0.90	4.17
’24	0.94	1.34	1.30	0.98	4.56
’23	1.53	1.07	1.42	1.81	5.84
’22	1.48	2.93	2.88	1.83	9.12
’21	0.32	0.38	1.24	2.23	4.19
’20	(4.82)	(1.78)	(0.25)	(0.27)	(7.12)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	18.07	28.79	20.37	19.72	4.70	15.71	42.87	42.59	30.39	25.89	Analyst estimates 2026–2028 Powerpack
	High	50.69	49.45	46.54	35.39	26.98	45.56	79.40	66.96	55.09	38.88
People
People	Employees	5,000	4,900	2,900	1,800	1,400	1,600	1,800	1,900	2,300	2,200
	Revenue/emp, $m	1.35	1.33	3.07	3.46	3.45	7.63	10.65	8.03	6.93	7.81
Income, $m
Income, $m	Revenue	6,753	6,501	8,896	6,220	4,828	12,206	19,169	15,258	15,940	17,188
	Gross margin, %	73.27	87.83	87.04	80.76	76.74	82.54	85.41	80.81	80.03	79.25
	EBT	(433)	40	944	(109)	(3,090)	2,898	7,775	4,623	3,712	3,466
	EBT margin, %	(6.41)	0.62	10.61	(1.75)	(64.00)	23.74	40.56	30.30	23.29	20.17
	Net income	(1,458)	1,078	3,224	(353)	(2,671)	2,833	6,037	3,782	2,942	2,681
	Depreciation	1,667	1,035	1,255	1,530	1,332	2,131	2,192	2,554	3,255	3,595
Per share, $
Per share, $	Revenue	13.32	12.50	18.01	15.51	12.81	18.41	29.45	23.88	25.22	27.20
	Earnings	(6.52)	1.71	6.14	(0.89)	(7.12)	4.19	9.12	5.86	4.58	4.18
	Cash flow	1.65	2.39	3.20	5.09	3.88	7.39	13.10	10.24	10.44	10.62
	Capex	1.55	(2.29)	(3.27)	(3.87)	(2.99)	(2.91)	(7.81)	(6.14)	(11.75)	(5.33)
	Free cash flow	3.20	0.10	(0.07)	1.23	0.89	4.48	5.29	4.10	(1.31)	5.29
	Book value	25.09	27.12	18.60	14.76	8.01	14.18	17.35	19.12	23.27	24.57
	Shares, m	507	520	494	401	377	663	651	639	632	632
Valuation, ×
Valuation, ×	P/E	0.00	19.19	3.49	0.00	0.00	10.51	6.35	7.84	7.13	8.74
	P/S	3.53	3.38	1.25	1.67	1.23	2.39	1.97	1.92	1.30	1.35
	P/B	1.88	1.56	1.21	1.76	1.97	3.11	3.35	2.40	1.41	1.49
	EV/Sales	4.80	4.03	1.48	2.07	1.66	2.74	2.23	2.27	1.80	1.75
	EV/FCF	20.00	484.84	(399.24)	26.18	23.83	11.26	12.43	13.18	(34.65)	9.01
Cash, $m
Cash, $m	Operating cash flow	834	1,243	1,583	2,043	1,464	4,899	8,530	6,544	6,600	6,711
	Capex	787	(1,189)	(1,616)	(1,551)	(1,127)	(1,928)	(5,086)	(3,921)	(7,429)	(3,369)
	Free cash flow	1,621	54	(33)	492	337	2,971	3,444	2,623	(829)	3,342
Balance, $m
Balance, $m	Working capital	1,156	1,476	2,211	1,924	1,820	1,162	786	208	118	(80)
	Total debt	10,154	6,864	4,454	4,311	4,307	6,508	6,440	6,155	8,883	8,389
	Net debt	8,195	4,222	2,040	2,467	2,070	4,237	4,986	5,280	8,037	6,955
	Shareholders’ equity	12,722	14,104	9,186	5,920	3,019	9,399	11,296	12,217	14,704	15,528
Returns, %
Returns, %	ROA	(3.63)	3.05	12.30	(2.13)	(22.68)	18.19	26.89	15.54	10.52	8.51
	ROIC	0.85	1.23	5.26	1.05	(35.05)	14.59	30.67	16.51	10.20	9.64
	ROE	(8.91)	6.69	26.31	(4.70)	(59.96)	45.31	58.13	31.87	21.48	17.48

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EOG EOG Resources, Inc.	$80.1B	12.2×	7.8×	+57.36% (above 0%: growing)	+108.87% (above 0%: growing)	+1,090.95% (above 0%: growing)	100.00%	40.93%	Compare
OXY Occidental Petroleum Corporation	$60.7B	9.5×	7.6×	+53.39% (above 0%: growing)	+937.04% (above 0%: growing)	+92.71% (above 0%: growing)	80.41%	50.90%	Compare
FANG Diamondback Energy, Inc.	$54.8B	39.7×	11.5×	+51.22% (above 0%: growing)	+179.41% (above 0%: growing)	+219.18% (above 0%: growing)	88.04%	45.16%	Compare
DVN Devon Energy Corporation	$54.2B	12.0×	8.8×	+73.13% (above 0%: growing)	+43.66% (above 0%: growing)	−130.16% (below 0%: shrinking)	81.22%	32.14%
WDS Woodside Energy Group Ltd	$44.1B	3.6×	11.1×	+196.99% (above 0%: growing)	+178.60% (above 0%: growing)	−173.74% (below 0%: shrinking)	42.87%	0.00%	Compare
EQT EQT Corporation	$32.8B	12.5×	10.8×	−29.24% (below 0%: shrinking)	−74.05% (below 0%: shrinking)	−42.53% (below 0%: shrinking)	73.19%	21.77%	Compare
TPL Texas Pacific Land Corporation	$23.9B	44.7×	42.5×	+31.20% (above 0%: growing)	+32.48% (above 0%: growing)	−63.88% (below 0%: shrinking)	100.00%	77.96%	Compare
EXE Expand Energy Corporation	$21.0B	8.0×	9.0×	−19.78% (below 0%: shrinking)	−46.19% (below 0%: shrinking)	−49.71% (below 0%: shrinking)	72.91%	22.33%	Compare
PR Permian Resources Corporation	$19.8B	15.9×	11.5×	+55.15% (above 0%: growing)	+216.67% (above 0%: growing)	+872.22% (above 0%: growing)	80.07%	49.95%	Compare
Median of peers	$38.5B	12.4×	11.0×	+52.31%	+143.74%	+25.09%	80.24%	43.05%

All 73 Oil & Gas E&P stocks →

Devon Energy Corporation (DVN) key facts

Strength: Devon Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $17.2 billion, up 7.83% from fiscal 2024.
Devon Energy Corporation (DVN) is an Oil & Gas E&P company in the Energy sector, listed on the New York Stock Exchange.
As of October 16, 2026, DVN traded at $50.68, a market capitalization of $54.2 billion.
Devon Energy Corporation pays an annual dividend of $1.12 per share, a yield of 2.21%, with a payout ratio of 26.6%.
Return on equity was 17.5% and debt-to-equity 0.27.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.22 (grey zone) for fiscal 2025.