ConocoPhillips (COP) vs Devon Energy Corporation (DVN)

ConocoPhillips and Devon Energy Corporation are both Oil & Gas E&P companies. ConocoPhillips is the larger, with a market value of $162.7B against $47.2B — 3.4× the size. Devon Energy Corporation trades at the lower P/E: 10.2× against 18.1×. Devon Energy Corporation grew revenue faster over the last twelve months: 14.6% against 7.16%. Devon Energy Corporation has the higher net margin (16.7% vs 14.4%) and the lower return on invested capital (5.05% vs 12.2%). Both pay a dividend; Devon Energy Corporation yields more (2.60% vs 2.46%). Across the 22 metrics below, Devon Energy Corporation leads on 13 and ConocoPhillips on 9.

Valuation

Metric COP DVN Oil & Gas E&P median
P/E 18.07 10.18 9.67
P/S 2.57 2.05 1.76
P/B 2.54 0.97 1.19
Price to free cash flow 13.63 25.10 8.37
EV/EBITDA 6.49 6.11 4.59
EV/Sales 2.81 2.58 2.27
Earnings yield 5.53% 9.83% 7.55%
Free cash flow yield 7.34% 3.98% 3.98%

Profitability

Metric COP DVN Oil & Gas E&P median
Gross margin 63.33% 79.45% 79.54%
Operating margin 24.44% 21.39% 24.01%
Net margin 14.35% 16.67% 14.11%
Free cash flow margin 18.86% 8.17% 7.72%
Return on equity 14.13% 11.50% 8.99%
Return on assets 7.50% 6.41% 4.63%
Return on invested capital 12.17% 5.05% 6.33%

Growth

Metric COP DVN Oil & Gas E&P median
Revenue growth (TTM) 7.16% 14.64% 13.60%
EPS growth (last fiscal year) (18.69%) (8.55%) (10.17%)
Revenue growth, 5-year CAGR 26.16% 28.91% 18.67%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric COP DVN Oil & Gas E&P median
Debt to equity 0.36 0.27 0.29
Current ratio 1.54 0.72 0.92
Net debt to EBITDA 0.64 0.99 0.93

Dividend

Metric COP DVN Oil & Gas E&P median
Dividend yield 2.46% 2.60% 3.76%
Payout ratio 0.44 0.27 0.33

Size

Metric COP DVN Oil & Gas E&P median
Market cap 162.73b 47.17b 953.29m

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