What is Devon Energy Corporation's earnings per share (EPS)?

Devon Energy Corporation (DVN) reported diluted earnings per share of $4.17 for fiscal year 2025. This represents a -8.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Devon Energy Corporation (DVN) Financials

DVN

Trailing 12 months to June 30, 2026

Revenue $19.7B +14.6% YoY

Net Income $3.3B +15.2% YoY

EPS (Diluted) $4.17 FY2025 annual

Free Cash Flow $4.7B +50.4% YoY

Market Cap $55.8B as of Oct 19, 2026

Price / Sales 2.8x on $19.7B revenue, trailing 12 months to June 30, 2026

Price / Earnings 17.0x on $3.3B net income, trailing 12 months to June 30, 2026

Price / Book 1.3x on $41.7B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 19, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DVN SEC filings page.

Devon Energy Corporation (DVN) reported $19.7B in revenue over the twelve months to Jun 30, 2026, up 14.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI DVN FY2025 2026-10-04

Devon remains cash-generative, but heavier reinvestment and shrinking net margins are separating cash strength from accounting earnings.

FY2025 net income declined while operating cash flow increased, a divergence that makes cash conversion more informative than the income statement alone. The gap is consistent with $3.6B of depreciation and amortization, while $3.1B of free cash flow after capital spending confirms that non-cash charges, not collapsing cash generation, explain much of the earnings pressure.

Revenue rose to $17.2B in FY2025, but net profit margin compressed to 15.4% from 18.2% in FY2024. Because sales improved while profitability weakened, the latest growth is not dropping through to earnings at the earlier rate.

The balance sheet expanded: total assets reached $31.6B while long-term debt was $7.4B, down from FY2024 even as assets grew. Yet current ratio slipped below 1.0x, indicating short-term obligations slightly exceeded current assets; the combination is lower long-term leverage but tighter near-term coverage.

Financial Health Signals

Financial Health Score 40/100

Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Devon Energy Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Not available for Devon Energy Corporation, and counted as zero in the overall score.

Growth

Devon Energy Corporation's revenue grew 7.8% year-over-year to $17.2B, a solid pace of expansion. This earns a growth score of 60/100.

Leverage

Devon Energy Corporation has a moderate D/E ratio of 0.48. This balance of debt and equity financing earns a leverage score of 63/100.

Liquidity

Devon Energy Corporation's current ratio of 0.98 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Devon Energy Corporation converts 18.1% of revenue into free cash flow ($3.1B). This strong cash generation earns a score of 83/100.

Returns

Not available for Devon Energy Corporation, and counted as zero in the overall score.

Piotroski F-Score Partial

6/8

Devon Energy Corporation passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.54x

For every $1 of reported earnings, Devon Energy Corporation generates $2.54 in operating cash flow ($6.7B OCF vs $2.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$7.4B

YoY+73.1%

QoQ+94.8%

5Y CAGR+25.1%

10Y CAGR+11.5%

Devon Energy Corporation generated $7.4B in revenue in Q2 2026. This represents an increase of 73.1% from the same quarter a year earlier. Against the prior quarter it is up 94.8%.

Net Income

$1.9B

YoY+112.6%

QoQ+1492.5%

5Y CAGR+49.5%

Devon Energy Corporation reported $1.9B in net income in Q2 2026. This represents an increase of 112.6% from the same quarter a year earlier. Against the prior quarter it is up 1492.5%.

EPS (Diluted)

$2.03

YoY+44.0%

QoQ+968.4%

5Y CAGR+39.8%

Devon Energy Corporation earned $2.03 per diluted share (EPS) in Q2 2026. This represents an increase of 44.0% from the same quarter a year earlier. Against the prior quarter it is up 968.4%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$2.4B

YoY+300.0%

QoQ+188.7%

5Y CAGR+32.0%

10Y CAGR+21.6%

Devon Energy Corporation generated $2.4B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 300.0% from the same quarter a year earlier. Against the prior quarter it is up 188.7%.

Cash & Debt

$950.0M

YoY-44.5%

QoQ-46.1%

5Y CAGR-6.8%

10Y CAGR-5.8%

Devon Energy Corporation held $950.0M in cash against $9.9B in long-term debt as of Q2 2026.

Dividends Per Share

$0.32

YoY+33.3%

QoQ+33.3%

5Y CAGR-1.2%

10Y CAGR+18.2%

Devon Energy Corporation paid $0.32 per share in dividends in Q2 2026. This represents an increase of 33.3% from the same quarter a year earlier. Against the prior quarter it is up 33.3%.

Shares Outstanding

1.10B

YoY+73.3%

QoQ+77.1%

5Y CAGR+10.2%

10Y CAGR+7.7%

Devon Energy Corporation had 1.10B shares outstanding in Q2 2026. This represents an increase of 73.3% from the same quarter a year earlier. Against the prior quarter it is up 77.1%.

Margins & Returns

Net Margin

25.8%

YoY+4.8pp

QoQ+22.6pp

5Y change+15.2pp

10Y change+88.9pp

Devon Energy Corporation's net profit margin was 25.8% in Q2 2026, showing the share of revenue converted to profit. This is up 4.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 22.6 percentage points.

Return on Equity

4.6%

YoY-1.4pp

QoQ+3.8pp

5Y change+1.5pp

10Y change+37.0pp

Devon Energy Corporation's ROE was 4.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.8 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$197.0M

YoY-20.9%

QoQ+185.5%

Devon Energy Corporation spent $197.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 20.9% from the same quarter a year earlier. Against the prior quarter it is up 185.5%.

Capital Expenditures

$1.3B

YoY+37.9%

QoQ+57.1%

5Y CAGR+21.2%

10Y CAGR+61.4%

Devon Energy Corporation invested $1.3B in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 37.9% from the same quarter a year earlier. Against the prior quarter it is up 57.1%.

R&D Spending

Not reported for Q2 2026.

DVN Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DVN quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$19.7B	$17.2B+7.8%	$15.9B+4.5%	$15.3B-20.4%	$19.2B+57.0%	$12.2B+152.8%	$4.8B-22.4%	$6.2B-30.1%	$8.9B+36.8%	$6.5B-3.7%	$6.8B-48.6%	$13.1B-36.3%	$20.6B+98.5%	$10.4B+9.4%	$9.5B-17.0%	$11.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$2.8B-34.9%	$4.3B+21.4%	$3.6B+26.2%	$2.8B	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$549.0M	$492.0M-1.6%	$500.0M+22.5%	$408.0M+3.3%	$395.0M+1.0%	$391.0M+15.7%	$338.0M-28.8%	$475.0M-17.2%	$574.0M-11.0%	$645.0M-12.0%	$733.0M-38.6%	$1.2B+40.9%	$847.0M+37.3%	$617.0M-10.8%	$692.0M+18.3%	$585.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$2.9B+86.0%	-$20.7B-541.2%	$4.7B+728.6%	$567.0M+666.2%	$74.0M-98.4%	$4.6B
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$1.3B+92.2%	-$16.7B-308.4%	$8.0B+139.5%	$3.3B+16.0%	$2.9B-58.1%	$6.9B
Interest Expense	$506.0M	$497.0M+23.9%	$401.0M+8.7%	$369.0M-0.3%	$370.0M-4.6%	$388.0M+49.8%	$259.0M-0.4%	$260.0M-9.4%	$287.0M-14.8%	$337.0M-30.9%	$488.0M-13.6%	$565.0M+5.4%	$536.0M+22.7%	$437.0M+7.6%	$406.0M+15.3%	$352.0M
Income Tax	$923.0M	$785.0M+1.9%	$770.0M-8.4%	$841.0M-51.6%	$1.7B+2573.8%	$65.0M+111.9%	-$547.0M-1723.3%	-$30.0M-113.0%	$230.0M+3185.7%	$7.0M-95.0%	$141.0M+102.3%	-$6.2B-362.4%	$2.4B+1301.2%	$169.0M+228.0%	-$132.0M-106.1%	$2.2B
Net Income	$3.3B	$2.6B-8.7%	$2.9B-22.6%	$3.7B-38.0%	$6.0B+114.8%	$2.8B+204.8%	-$2.7B-654.9%	-$355.0M-111.6%	$3.1B+241.2%	$898.0M+185.0%	-$1.1B+91.8%	-$12.9B-902.5%	$1.6B+8135.0%	-$20.0M+90.3%	-$206.0M-104.4%	$4.7B
EPS (Basic)	N/A	$4.18-8.7%	$4.58-21.8%	$5.86-36.0%	$9.15+117.9%	$4.20+159.0%	-$7.12-700.0%	-$0.89-114.5%	$6.14+259.1%	$1.71+181.8%	-$2.09+93.4%	-$31.72-907.1%	$3.93+6650.0%	-$0.06+88.5%	-$0.52-104.6%	$11.29
EPS (Diluted)	—	$4.17-8.6%	$4.56-21.9%	$5.84-36.0%	$9.12+117.7%	$4.19	-$7.12-700.0%	-$0.89-114.6%	$6.10+258.8%	$1.70+181.3%	-$2.09+93.4%	-$31.72-911.3%	$3.91+6616.7%	-$0.06+88.5%	-$0.52-104.6%	$11.25
Diluted Shares (Avg)	N/A	633M-0.2%	634M-1.2%	642M-1.7%	653M-1.8%	665M	377M-6.0%	401M-19.3%	497M-4.4%	520M+2.6%	507M+24.6%	407M0.0%	407M+1.2%	402M+0.5%	400M-3.4%	414M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$7.4B+73.1%	$3.8B-14.5%	$4.1B-6.4%	$4.3B+7.6%	$4.3B+9.4%	$4.5B+23.8%	$4.4B+6.2%	$4.0B+4.9%
SG&A Expenses	$175.0M+54.9%	$125.0M-3.8%	$135.0M-12.9%	$114.0M-2.6%	$113.0M-0.9%	$130.0M+14.0%	$155.0M+39.6%	$117.0M+18.2%
Interest Expense	$144.0M+14.3%	$118.0M-7.1%	$119.0M-7.0%	$125.0M+27.6%	$126.0M+43.2%	$127.0M+46.0%	$128.0M+47.1%	$98.0M+5.4%
Income Tax	$473.0M+93.9%	$46.0M-66.4%	$185.0M-1.1%	$219.0M-8.4%	$244.0M+31.9%	$137.0M-13.8%	$187.0M-30.5%	$239.0M+57.2%
Net Income	$1.9B+112.6%	$120.0M-75.7%	$562.0M-12.3%	$687.0M-15.4%	$899.0M+6.5%	$494.0M-17.1%	$641.0M-44.0%	$812.0M-10.8%
EPS (Basic)	$2.04+43.7%	$0.19-75.3%	$0.91-7.1%	$1.09-16.8%	$1.42+5.2%	$0.77-18.9%	$0.98-45.9%	$1.31-8.4%
EPS (Diluted)	$2.03+44.0%	$0.19-75.3%	$0.90-7.2%	$1.09-16.2%	$1.41+5.2%	$0.77-18.1%	$0.97-46.4%	$1.30-8.5%
Diluted Shares (Avg)	940M+47.8%	618M-4.2%	N/A	629M+1.0%	636M+1.3%	645M+2.1%	N/A	623M-2.5%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

DVN Balance Sheet

DVN quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$31.6B+3.6%	$30.5B+24.5%	$24.5B+5.2%	$23.3B+10.7%	$21.0B+112.1%	$9.9B-27.7%	$13.7B-29.9%	$19.6B-35.3%	$30.2B+5.5%	$28.7B-3.4%	$29.7B-41.3%	$50.6B+17.9%	$42.9B-1.0%	$43.3B+5.8%	$41.0B
Current Assets	$4.0B+16.9%	$3.4B+8.6%	$3.2B-18.9%	$3.9B-8.4%	$4.2B+30.3%	$3.3B-15.3%	$3.9B-13.2%	$4.4B-7.4%	$4.8B+27.0%	$3.8B-6.2%	$4.0B-38.1%	$6.5B-18.8%	$8.0B-10.8%	$9.0B-3.6%	$9.3B
Cash & Equivalents	$1.4B+70.7%	$811.0M-4.9%	$853.0M-35.1%	$1.3B-37.4%	$2.1B+2.5%	$2.0B+39.8%	$1.5B-39.4%	$2.4B-8.6%	$2.6B+35.7%	$1.9B-15.7%	$2.3B+56.1%	$1.5B-75.6%	$6.1B+30.8%	$4.6B-16.5%	$5.6B
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$2.3B+55.9%	$1.5B
Inventory	$336.0M+14.3%	$294.0M+18.1%	$249.0M+23.9%	$201.0M+76.3%	$114.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$110.0M+7.8%	$102.0M
Accounts Receivable	$1.8B-9.1%	$2.0B+25.4%	$1.6B-11.0%	$1.8B+14.5%	$1.5B+156.7%	$601.0M-27.8%	$832.0M+2.5%	$812.0M-17.9%	$989.0M-27.1%	$1.4B+22.7%	$1.1B-43.6%	$2.0B+28.9%	$1.5B+22.1%	$1.2B-9.7%	$1.4B
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M-10.5%	$841.0M-64.7%	$2.4B-28.6%	$3.3B-47.1%	$6.3B+7.6%	$5.9B-3.6%	$6.1B+1.1%	$6.0B
Total Liabilities	$16.1B+0.5%	$16.0B+28.7%	$12.4B+2.7%	$12.1B+2.9%	$11.8B+67.4%	$7.0B-11.2%	$7.9B-23.7%	$10.4B-50.5%	$21.0B+2.9%	$20.4B-9.8%	$22.6B-22.1%	$29.0B+29.7%	$22.4B+1.5%	$22.0B+12.9%	$19.5B
Current Liabilities	$4.1B+23.5%	$3.3B+12.2%	$2.9B-5.0%	$3.1B+0.6%	$3.1B+114.4%	$1.4B-25.3%	$1.9B-13.4%	$2.2B-32.9%	$3.3B+26.7%	$2.6B-20.6%	$3.3B-44.5%	$5.9B-10.8%	$6.7B+10.9%	$6.0B-10.9%	$6.7B
Non-Current Liabilities	$12.0B-5.5%	$12.7B+33.8%	$9.5B+5.3%	$9.0B+3.7%	$8.7B+55.3%	$5.6B-6.7%	$6.0B-26.6%	$8.2B-53.9%	$17.7B-0.6%	$17.8B-8.0%	$19.3B-16.3%	$23.1B+46.9%	$15.7B-2.0%	$16.0B+25.4%	$12.8B
Long-Term Debt	$7.4B-12.0%	$8.4B+48.1%	$5.7B-8.4%	$6.2B-4.5%	$6.5B+50.8%	$4.3B+0.1%	$4.3B0.0%	$4.3B-36.4%	$6.7B-33.5%	$10.2B-15.8%	$12.1B+22.6%	$9.8B+23.6%	$8.0B-5.9%	$8.5B+41.6%	$6.0B
Total Equity	$15.5B+7.1%	$14.5B+20.2%	$12.1B+8.0%	$11.2B+20.6%	$9.3B+221.0%	$2.9B-50.3%	$5.8B-36.8%	$9.2B-0.7%	$9.3B+11.8%	$8.3B+17.4%	$7.0B-67.3%	$21.5B+5.1%	$20.5B-3.7%	$21.3B-0.7%	$21.4B
Retained Earnings	$10.2B+24.9%	$8.2B+31.8%	$6.2B+44.2%	$4.3B+154.0%	$1.7B+713.5%	$208.0M-93.4%	$3.1B-13.8%	$3.6B+419.9%	$702.0M+1117.4%	-$69.0M-103.9%	$1.8B-89.3%	$16.6B+7.9%	$15.4B-2.3%	$15.8B-3.2%	$16.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$70.9B+125.8%	$32.5B+5.2%	$31.6B+3.6%	$31.2B+3.2%	$31.4B+24.8%	$30.9B+23.8%	$30.5B+24.5%	$30.3B+24.8%
Current Assets	$5.0B+16.8%	$4.8B+21.9%	$4.0B+16.9%	$3.9B+19.6%	$4.3B+28.7%	$3.9B+14.9%	$3.4B+8.6%	$3.2B+0.6%
Cash & Equivalents	$950.0M-44.5%	$1.8B+47.2%	$1.4B+70.7%	$1.2B+90.5%	$1.7B+50.3%	$1.2B+6.4%	$811.0M-4.9%	$645.0M-1.4%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$356.0M+8.9%	$319.0M-3.9%	$336.0M+14.3%	$361.0M+23.2%	$327.0M+26.7%	$332.0M+41.9%	$294.0M+18.1%	$293.0M+25.8%
Accounts Receivable	$3.2B+70.6%	$2.3B+10.5%	$1.8B-9.1%	$1.8B+3.1%	$1.9B+16.6%	$2.0B+21.9%	$2.0B+25.4%	$1.8B-4.0%
Long-Term Investments	$0	$0-100.0%	$0	$0	$0	$100.0M	$0	$0
Goodwill	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%	$753.0M0.0%
Total Liabilities	$29.1B+78.5%	$17.1B+4.5%	$16.1B+0.5%	$15.9B-0.7%	$16.3B+29.5%	$16.4B+27.9%	$16.0B+28.7%	$16.0B+26.9%
Current Liabilities	$7.0B+99.0%	$4.7B+30.8%	$4.1B+23.5%	$4.0B+39.1%	$3.5B+17.3%	$3.6B+10.8%	$3.3B+12.2%	$2.9B-12.7%
Non-Current Liabilities	$22.1B+72.8%	$12.4B-3.0%	$12.0B-5.5%	$11.8B-9.6%	$12.8B+33.3%	$12.8B+33.7%	$12.7B+33.8%	$13.1B+41.1%
Long-Term Debt	$9.9B+17.8%	$7.4B-12.0%	$7.4B-12.0%	$7.4B-16.8%	$8.4B+48.2%	$8.4B+48.1%	$8.4B+48.1%	$8.9B+56.5%
Total Equity	$41.7B+177.2%	$15.4B+6.1%	$15.5B+7.1%	$15.3B+7.5%	$15.1B+20.0%	$14.5B+19.5%	$14.5B+20.2%	$14.3B+22.7%
Retained Earnings	$11.7B+26.6%	$10.2B+19.6%	$10.2B+24.9%	$9.8B+27.6%	$9.3B+29.7%	$8.5B+30.7%	$8.2B+31.8%	$7.7B+38.6%

DVN Cash Flow Statement

DVN quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$8.6B	$6.7B+1.7%	$6.6B+0.9%	$6.5B-23.3%	$8.5B+74.1%	$4.9B+234.6%	$1.5B-28.3%	$2.0B+29.1%	$1.6B-45.6%	$2.9B+93.9%	$1.5B-69.4%	$4.9B-18.1%	$6.0B+10.0%	$5.4B+9.7%	$5.0B-20.4%	$6.2B
Depreciation & Amortization	N/A	$3.6B+10.4%	$3.3B+27.4%	$2.6B+14.9%	$2.2B+3.0%	$2.2B+66.0%	$1.3B-13.2%	$1.5B+21.9%	$1.2B+21.8%	$1.0B-36.7%	$1.6B-60.4%	$4.0B+21.2%	$3.3B+19.4%	$2.8B-1.1%	$2.8B+25.0%	$2.2B
Stock-Based Compensation	N/A	$99.0M0.0%	$99.0M+6.5%	$93.0M+5.7%	$88.0M-11.1%	$99.0M+12.5%	$88.0M-23.5%	$115.0M-16.1%	$137.0M+8.7%	$126.0M-37.9%	$203.0M-16.8%	$244.0M+49.7%	$163.0M+3.8%	$157.0M-12.3%	$179.0M-1.1%	$181.0M
Capital Expenditures	$3.9B	$3.6B-1.5%	$3.6B-6.1%	$3.9B+52.8%	$2.5B+27.8%	$2.0B+72.5%	$1.2B+3619.4%	$31.0M-43.6%	$55.0M+25.0%	$44.0M-94.8%	$849.0M-23.3%	$1.1B-82.9%	$6.5B+2424.2%	$256.0M-96.9%	$8.2B+9.2%	$7.5B
Free Cash Flow	$4.7B	$3.1B+5.5%	$3.0B+11.0%	$2.7B-55.6%	$6.0B+105.8%	$2.9B+835.7%	$311.0M-84.5%	$2.0B+31.7%	$1.5B-46.7%	$2.9B+340.1%	$651.0M-82.8%	$3.8B+888.1%	-$481.0M-109.3%	$5.2B+258.5%	-$3.3B-149.5%	-$1.3B
Investing Cash Flow	-$6.4B	-$3.4B+53.7%	-$7.3B-86.0%	-$3.9B+23.1%	-$5.1B-225.5%	-$1.6B	N/A	N/A	N/A	-$2.2B-272.1%	-$594.0M+89.8%	-$5.8B+29.1%	-$8.2B-104.7%	-$4.0B+46.9%	-$7.5B-33.3%	-$5.6B
Financing Cash Flow	-$2.9B	-$2.7B-486.7%	$706.0M+122.2%	-$3.2B+24.4%	-$4.2B-28.0%	-$3.3B	N/A	N/A	N/A	$9.0M+100.8%	-$1.2B-166.0%	$1.8B	N/A	$20.0M-98.8%	$1.6B-3.7%	$1.7B
Dividends Paid	N/A	$319.0M-66.0%	$937.0M-49.6%	$1.9B-45.0%	$3.4B+157.0%	$1.3B+411.7%	$257.0M+83.6%	$140.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$766.0M	$1.1B-0.7%	$1.1B+8.0%	$979.0M+36.4%	$718.0M+21.9%	$589.0M+1450.0%	$38.0M-97.9%	$1.8B-37.4%	$3.0B	N/A	N/A	N/A	N/A	N/A	N/A	$2.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$3.7B+137.8%	$1.7B-14.8%	$1.5B-7.8%	$1.7B+1.6%	$1.5B+0.7%	$1.9B+11.7%	$1.7B-4.2%	$1.7B-3.6%
Depreciation & Amortization	$1.4B+54.9%	$904.0M-0.9%	$890.0M-8.3%	$879.0M+10.7%	$914.0M+19.0%	$912.0M+26.3%	$971.0M+49.4%	$794.0M+22.0%
Stock-Based Compensation	$71.0M+208.7%	$22.0M-26.7%	N/A	$24.0M0.0%	$23.0M-14.8%	$30.0M+25.0%	N/A	$24.0M+9.1%
Capital Expenditures	$1.3B+37.9%	$839.0M-10.2%	$832.0M-10.2%	$870.0M-0.8%	$956.0M+0.8%	$934.0M+4.5%	$926.0M+1.8%	$877.0M-0.6%
Free Cash Flow	$2.4B+300.0%	$816.0M-19.0%	$702.0M-4.9%	$820.0M+4.3%	$589.0M+0.3%	$1.0B+19.4%	$738.0M-10.8%	$786.0M-6.8%
Investing Cash Flow	-$3.4B-465.3%	-$1.0B-27.2%	-$970.0M+7.0%	-$1.0B+76.5%	-$597.0M+41.4%	-$802.0M+12.9%	-$1.0B-14.6%	-$4.3B-384.8%
Financing Cash Flow	-$1.1B-161.6%	-$254.0M+66.2%	-$407.0M+9.6%	-$1.1B-152.3%	-$424.0M+14.3%	-$752.0M-39.0%	-$450.0M+37.2%	$2.2B+496.4%
Dividends Paid	N/A	N/A	-$151.0M-205.6%	$151.0M-44.5%	N/A	N/A	$143.0M-70.7%	$272.0M-12.8%
Share Buybacks	$197.0M-20.9%	$69.0M-77.1%	$250.0M-16.9%	$250.0M-15.3%	$249.0M-2.7%	$301.0M+46.8%	$301.0M+28.6%	$295.0M

DVN Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DVN quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-42.9%	-157.7%	22.8%+17.3pp	5.5%+4.7pp	0.8%-39.7pp	40.5%
Net Margin	15.4%-2.8pp	18.1%-6.4pp	24.5%-6.9pp	31.5%+8.4pp	23.0%+78.5pp	-55.5%-49.8pp	-5.7%-40.1pp	34.4%+20.6pp	13.8%+29.4pp	-15.6%+82.5pp	-98.1%-105.9pp	7.8%+8.0pp	-0.2%+2.0pp	-2.2%-43.3pp	41.1%
Return on Equity	17.0%-2.9pp	20.0%-11.0pp	31.0%-23.0pp	54.0%+23.7pp	30.3%+123.2pp	-92.9%-86.8pp	-6.1%-39.5pp	33.4%+23.7pp	9.7%+22.5pp	-12.8%+170.2pp	-182.9%-190.4pp	7.5%+7.6pp	-0.1%+0.9pp	-1.0%-22.9pp	21.9%
Return on Assets	8.4%-1.1pp	9.5%-5.8pp	15.3%-10.6pp	25.9%+12.6pp	13.4%+40.4pp	-27.0%-24.4pp	-2.6%-18.3pp	15.7%+12.7pp	3.0%+6.7pp	-3.7%+39.8pp	-43.5%-46.6pp	3.2%+3.2pp	-0.1%+0.4pp	-0.5%-12.0pp	11.5%
Current Ratio	0.98-0.1x	1.040.0x	1.07-0.2x	1.25-0.1x	1.38-0.9x	2.26+0.3x	2.000.0x	1.99+0.5x	1.450.0x	1.44+0.2x	1.22+0.1x	1.09-0.1x	1.20-0.3x	1.49+0.1x	1.38
Debt-to-Equity	0.48-0.1x	0.58+0.1x	0.47-0.1x	0.55-0.1x	0.70-0.8x	1.49+0.7x	0.74+0.3x	0.47-0.3x	0.73-0.5x	1.23-0.5x	1.71+1.3x	0.46+0.1x	0.390.0x	0.40+0.1x	0.28
Asset Turnover	0.540.0x	0.52-0.1x	0.62-0.2x	0.82+0.2x	0.58+0.1x	0.490.0x	0.450.0x	0.45+0.2x	0.210.0x	0.24-0.2x	0.440.0x	0.41+0.2x	0.240.0x	0.22-0.1x	0.28
FCF Margin	18.1%-0.4pp	18.5%+1.1pp	17.4%-13.8pp	31.2%+7.4pp	23.8%+17.4pp	6.4%-25.9pp	32.4%+15.2pp	17.2%-26.9pp	44.1%+34.4pp	9.6%-19.2pp	28.8%+31.2pp	-2.3%-52.1pp	49.8%+84.2pp	-34.4%-23.0pp	-11.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	25.8%+4.8pp	3.1%-8.0pp	13.6%-0.9pp	15.9%-4.3pp	21.0%-0.6pp	11.1%-5.5pp	14.6%-13.0pp	20.2%-3.5pp
Return on Equity	4.6%-1.4pp	0.8%-2.6pp	3.6%-0.8pp	4.5%-1.2pp	6.0%-0.7pp	3.4%-1.5pp	4.4%-5.1pp	5.7%-2.1pp
Return on Assets	2.7%-0.2pp	0.4%-1.2pp	1.8%-0.3pp	2.2%-0.5pp	2.9%-0.5pp	1.6%-0.8pp	2.1%-2.6pp	2.7%-1.1pp
Current Ratio	0.72-0.5x	1.01-0.1x	0.98-0.1x	0.96-0.2x	1.22+0.1x	1.080.0x	1.040.0x	1.11+0.1x
Debt-to-Equity	0.24-0.3x	0.48-0.1x	0.48-0.1x	0.48-0.1x	0.56+0.1x	0.58+0.1x	0.58+0.1x	0.62+0.1x
Asset Turnover	0.100.0x	0.120.0x	0.130.0x	0.140.0x	0.140.0x	0.140.0x	0.140.0x	0.130.0x
FCF Margin	31.8%+18.0pp	21.4%-1.2pp	17.0%+0.3pp	18.9%-0.6pp	13.8%-1.2pp	22.6%-0.8pp	16.8%-3.2pp	19.5%-2.4pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin.

Note: The current ratio is below 1.0 (0.98), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Devon Energy Corporation DVN	FY2025	$17.2B	$2.6B	15.4%	$55.8B	40/100
Expand Energy Corporation EXE	FY2025	$12.1B	$1.8B	15.0%	$21.6B	55/100
Texas Pacific Land Corporation TPL	FY2025	$798.2M	$481.4M	60.3%	$24.2B	73/100
Coterra Energy Inc. CTRA	FY2025	$7.6B	$1.7B	22.5%	$25.0B	53/100
Diamondback Energy, Inc. FANG	FY2025	$15.0B	$1.5B	10.3%	$57.1B	41/100
EQT CORP EQT	FY2025	$8.6B	$2.0B	23.6%	$34.0B	52/100

Where Devon Energy Corporation Ranks

Frequently Asked Questions

What is Devon Energy Corporation's annual revenue?

Devon Energy Corporation (DVN) reported $17.2B in total revenue for fiscal year 2025. This represents a 7.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Devon Energy Corporation's revenue growing?

Devon Energy Corporation (DVN) revenue grew by 7.8% year-over-year, from $15.9B to $17.2B in fiscal year 2025.

Is Devon Energy Corporation profitable?

Yes, Devon Energy Corporation (DVN) reported a net income of $2.6B in fiscal year 2025, with a net profit margin of 15.4%.

How much debt does Devon Energy Corporation have?

As of fiscal year 2025, Devon Energy Corporation (DVN) had $1.4B in cash and equivalents against $7.4B in long-term debt.

What is Devon Energy Corporation's net profit margin?

Devon Energy Corporation (DVN) had a net profit margin of 15.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Devon Energy Corporation's return on equity (ROE)?

Devon Energy Corporation (DVN) has a return on equity of 17.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Devon Energy Corporation's free cash flow?

Devon Energy Corporation (DVN) generated $3.1B in free cash flow during fiscal year 2025. This represents a 5.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Devon Energy Corporation's operating cash flow?

Devon Energy Corporation (DVN) generated $6.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Devon Energy Corporation's total assets?

Devon Energy Corporation (DVN) had $31.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Devon Energy Corporation's capital expenditures?

Devon Energy Corporation (DVN) invested $3.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Devon Energy Corporation buy back shares?

Yes, Devon Energy Corporation (DVN) spent $1.1B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Devon Energy Corporation have outstanding?

Devon Energy Corporation (DVN) had 620M shares outstanding as of fiscal year 2025.

What is Devon Energy Corporation's current ratio?

Devon Energy Corporation (DVN) had a current ratio of 0.98 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Devon Energy Corporation's debt-to-equity ratio?

Devon Energy Corporation (DVN) had a debt-to-equity ratio of 0.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Devon Energy Corporation's return on assets (ROA)?

Devon Energy Corporation (DVN) had a return on assets of 8.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Devon Energy Corporation's P/E ratio?

Devon Energy Corporation (DVN) trades at 17.0x earnings, its market capitalization divided by net income of $3.3B net income, trailing 12 months to June 30, 2026. The market capitalization is $55.8B as of Oct 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Devon Energy Corporation's price-to-sales ratio?

Devon Energy Corporation (DVN) trades at 2.8x sales, its market capitalization divided by revenue of $19.7B revenue, trailing 12 months to June 30, 2026. The market capitalization is $55.8B as of Oct 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Devon Energy Corporation's Piotroski F-Score?

Devon Energy Corporation (DVN) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Devon Energy Corporation's earnings high quality?

Devon Energy Corporation (DVN) has an earnings quality ratio of 2.54x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Devon Energy Corporation?

Devon Energy Corporation (DVN) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.