Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two-thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins.
It is a $53.1B energy company. Revenue grew 14.6% over the last year, it keeps 17¢ of every dollar of sales as profit, and its net debt equals ~1.5 years of free cash flow. It trades at 16.2× earnings — in the most expensive third of its own history.
- Website
- devonenergy.com
- Location
- Houston, TX
- Employees
- 2 200
- Sector
- Energy
- Founded
- 1971
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Health lags behind.
Valuation70
- P/E vs own history84th pct · 0/25
- FCF yield8.8% · 25/25
- P/S2.7x · 20/25
- EV/EBITDA7.4x · 25/25
Growth62
- Revenue CAGR8.9% · 12/25
- Net income CAGR-1.6% · 0/25
- EPS CAGR ~5Y32.0% · 25/25
- Fwd implied growth81.6% · 25/25
Profitability64
- ROIC11.7% · 12/25
- ROE14.9% · 12/25
- Net margin16.7% · 20/25
- Operating margin22.7% · 20/25
Health36
- Altman Zn/a · 0/25
- Current ratio0.72 · 6/25
- Interest coverage8.9x · 18/25
- Net cash / debtD/A 22% · 12/25
Quality65
- Piotroski F6/9 · 15/25
- Beneish M-2.88 · 25/25
- FCF conversion143% · 25/25
- Margin stabilityσ 39.4% · 0/25
Moat70
- ROIC >12% years7/8 yrs · 20/25
- Median gross margin62.3% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst -55.5% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026AcquisitionThe company was ranked 259th on the Fortune 500 in 2026, while Coterra Energy, newly acquired that May, was ranked…
- FY2022FinancialBest year on record$6.01B net income
- FY2017FinancialTurned profitable$898M net income after a loss year
- FY2016FinancialRevenue already above $10B$12.2B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 1988IPOThe company became a public company via an initial public offering
- 1971FoundedDevon was founded in 1971 by John Nichols (1914-2008) and his son, J
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (47.6%)
- Revenue growing 14.6% year over year
- Strong cash conversion — FCF is 23.9% of revenue
- Interest covered 8.9× by operating earnings
Watch-outs
- Loss-making in 3 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+14.6% YoY
- Profitable — makes more than it spends$3.28B TTM
- Profit growing — earnings are higher than last year-23.2% YoY
- Generates cash — cash left after running and investing$4.69B TTM
- Debt under control — could handle its obligations~1.5y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$53.1B market cap
- Not printing shares — share count not ballooning — you keep your slice-26.4% shares over ~5y
- Proven track record — years of profitability behind it7/10 profitable years
- Financially stable — balance sheet not near distresshealth score 24/100
- Pays a dividend — returns cash to shareholdersyield 1.55%
- Valuation not extreme — price not wildly above earningsP/E 16.2
Peer comparisonDevon Energy Corporation vs 6 largest energy peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| DVN this company | $53.1B | 16.2 | +14.6% | 16.7% | Strained |
| XOM ExxonMobil Holdings Corporation | $694.0B | 21.1 | +9.1% | 8.9% | Mixed |
| CVX Chevron Corporation | $416.8B | 20.3 | +10.2% | 9.6% | Mixed |
| SHEL Shell plc | $284.6B | 11.0 | -6.1% | 6.7% | Solid |
| TTE TotalEnergies SE | $191.1B | 10.9 | -6.8% | 7.2% | Solid |
| COP ConocoPhillips | $161.5B | 17.4 | +9.6% | 14.7% | Strained |
| MPC Marathon Petroleum Corporation | $127.8B | 14.9 | +15.0% | 5.6% | Strained |
Head-to-head: DVN vs XOM · DVN vs CVX · DVN vs SHEL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/DVN
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Deeper analysis of DVN on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $48.26 · market cap $53.1B.