# Devon Energy Corporation (DVN) — Stock CV

Devon Energy Corporation 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.

> 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.

## Identity

- **Ticker**: DVN
- **Sector**: Energy
- **Industry**: Crude Petroleum & Natural Gas
- **Headquarters**: HOUSTON, TX
- **Employees**: 2 200
- **Website**: https://www.devonenergy.com
- **Market cap**: $53.1B
- **Last price**: $48.26
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $19.7B
- **Net income**: $3.28B
- **Free cash flow**: $4.69B
- **Net debt**: $7.00B
- **P/E**: 16.2
- **Revenue growth (YoY)**: 14.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 70 |
| Growth | 62 |
| Profitability | 64 |
| Health | 36 |
| Quality | 65 |
| Moat | 70 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +14.6% YoY
- [x] Profitable — $3.28B TTM
- [ ] Profit growing — -23.2% YoY
- [x] Generates cash — $4.69B TTM
- [x] Debt under control — ~1.5y of cash flow to repay
- [x] Established company — $53.1B market cap
- [x] Not printing shares — -26.4% shares over ~5y
- [x] Proven track record — 7/10 profitable years
- [ ] Financially stable — health score 24/100
- [x] Pays a dividend — yield 1.55%
- [x] Valuation not extreme — P/E 16.2

## Experience (career milestones)

- **2026** — The company was ranked 259th on the Fortune 500 in 2026, while Coterra Energy, newly acquired that May, was ranked…
- **FY2022** — Best year on record: $6.01B net income
- **FY2017** — Turned profitable: $898M net income after a loss year
- **FY2016** — Revenue already above $10B: $12.2B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **1988** — The company became a public company via an initial public offering
- **1971** — Devon was founded in 1971 by John Nichols (1914-2008) and his son, J

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $12.2B | $2.81B | $2.91B |
| FY2022 | $19.2B | $6.01B | $5.99B |
| FY2023 | $15.1B | $3.75B | $2.60B |
| FY2024 | $15.9B | $2.89B | $2.96B |
| FY2025 | $17.2B | $2.64B | $3.12B |

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Source: https://stockcv.com/DVN — derived from company filings; may be delayed or incomplete. Information, not investment advice.