DVN

Devon Energy
D

DVN

Arincen58/100B

If you had invested in Devon Energy ago, it would be worth $1,597 today, against $4,096 in SPY and $6,368 in QQQ.

ArincenArincen ScoreBeta

58/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation7.5

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth7.5

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength2

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

Devon Energy key facts

Style
Growth stock · 7.9/10Growth 7.9 · Value 5.9 · Dividend 6.1
Day range
46.000 – 46.860
52-week range
33.340 – 52.710
Market capitalization
52.83B USD
P/E
10.98
PEG ratio
2.86
EPS
4.22
Div Yield
2.76%
EPS growth forecast (FY2026)
+44.8%
Volume
96,945
Beta
0.43
ESG score
61.8/100Environment 56 · Social 59 · Governance 70
Sector
Energy
Industry
Oil & Gas Exploration & Production
CEO
Clay Gaspar
Employees
2K
IPO date
22 Jul 1985

Devon Energy earnings

Next earnings · Q4 FY2026
EPS estimate
1.51 USD
Revenue estimate
7.01B USD
Last quarter · Q3 FY2026
EPS1.42Beat +6.8%Revenue6.86BBeat +4.4%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20281.32———6.51B———
Q2 FY20281.21———6.39B———
Q1 FY20281.39———6.62B———
Q4 FY20261.51——+84.15%7.01B——+69.99%
Q3 FY20261.331.42+6.77%+36.54%6.57B6.86B+4.42%+61.37%
Q2 FY20261.401.57+12.14%+86.90%6.01B7.42B+23.40%+83.23%
Q1 FY20261.061.04-1.89%-14.05%4.34B3.81B-12.25%-14.49%
Q4 FY20250.810.82+1.61%-29.31%4.00B4.12B+2.91%-10.86%
Q3 FY20250.931.04+11.83%-5.45%4.14B4.25B+2.76%+13.78%
Q2 FY20250.860.84-2.78%-40.43%4.03B4.05B+0.33%+5.42%

Analysts' estimates for FY2026 over the last 7 days:EPS Revenue How the estimates moved

Devon Energy analyst forecast

12-month price target
63.00 USD
+35.91%

Analysts' 1-year price targets range from 54.00 to 68.00, with an average of 63.00.

Past year
1-year forecast
Strong sellStrong buy
Strong buy
17 ratings
Buy
14
Hold
3
Sell
0

12-month price target

Highest target68.00
Average target63.00
Lowest target54.00
Current price46.36

Devon Energy valuation

Price to earnings ratio (TTM)
10.98
Forward P/E (FY2026)
8.18
Price to sales (TTM)
2.38
Price to book
1.26
EV / EBITDA (TTM)
6.44

Capital structure

Market capitalization
52.83B USD
+
Total debt
11.04B USD
−
Cash and short-term investments
413.00M USD
=
Enterprise value
63.46B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)8.73————
FY2027 (est.)8.988.73———
FY2026 (est.)8.188.98———
Now (TTM)10.988.862.381.266.44
FY20258.706.471.341.484.02
FY20247.168.191.281.413.90
FY20237.7310.851.902.404.57
FY20226.7210.852.093.594.37
FY202110.495.152.393.156.22

Devon Energy against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Diamondback Energy, Occidental Petroleum, EQT, EOG Resources, Expand Energy, and Texas Pacific Land, the US Oil & Gas Exploration & Production companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median11.0
    5.632.2
  • Gross marginLowest in 5 years25.5%
    25.5%43.7%
    Against its peers: 7 of 7Peers' median 47.7%
  • Operating marginLowest in 5 years22.4%
    22.4%41.3%
    Against its peers: 5 of 7Peers' median 30.5%
  • Net marginLowest in 5 years15.4%
    15.4%31.4%
    Against its peers: 5 of 7Peers' median 18.8%
  • Return on equityLowest in 5 years17.0%
    17.0%53.9%
    Against its peers: 2 of 7Peers' median 9.2%
  • Free cash flow marginBelow its median16.3%
    -5.4%23.7%
    Against its peers: 5 of 7Peers' median 25.1%
  • Revenue growthAt its median7.8%
    -20.4%152.8%
    Against its peers: 5 of 7Peers' median 24.7%
  • EPS growthAbove its median-8.1%
    -36.0%118.2%
    Against its peers: 3 of 6Peers' median -19.0%
  • Debt to EBITDAAt its median1.16×
    0.65×1.25×
    Against its peers: 4 of 7Peers' median 1.12×
  • Current ratioLowest in 5 years0.98
    0.981.38
    Against its peers: 4 of 7Peers' median 0.97

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Devon Energy growth and profitability

Revenue (TTM)
22.21B USD
Net income (TTM)
3.60B USD
Gross margin
25.19%
Operating margin
16.72%
Net margin
16.22%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202517.19B+7.83%2.64B-8.61%25.55%22.43%15.37%7.56B+2.58%
FY202415.94B+4.47%2.89B-22.84%29.55%26.24%18.14%7.37B-2.36%
FY202315.26B-20.40%3.75B-37.71%35.17%32.37%24.56%7.55B-27.22%
FY202219.17B+57.05%6.02B+113.83%43.66%41.32%31.38%10.37B+90.45%
FY202112.21B+152.82%2.81B—30.14%26.59%23.05%5.44B—

Devon Energy revenue breakdown

By product

FY2025
100.0%N G L Product Sales
SegmentRevenueShare of revenueChange on the year
N G L Product Sales11.22B100.0%+0.4%

By region

FY2018
U [S]: 85.7%C [A]: 14.3%85.7%U [S]14.3%C [A]
RegionRevenueShare of revenueChange on the year
U [S]4.86B85.7%+29.8%
C [A]814.00M14.3%-42.0%

How Devon Energy makes its money

Revenue17.19B 100.0%
Cost of revenue12.80B 74.5%
Gross profit4.39B 25.5%
Selling and administration492.00M 2.9%
Other operating expenses43.00M 0.3%
Operating income3.86B 22.4%
Tax785.00M 4.6%
Other expense429.00M 2.5%
Net income2.64B 15.4%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Devon Energy dividends

Annual dividend
1.28 USD
Dividend yield (indicated)
2.76%
Payout ratio
34.12%
Years of dividend growth
2
Frequency
Quarterly
Next payment
0.32 USD
Next ex-dividend date
15 Dec 2026
Next payment date
30 Dec 2026

Dividends per share

Year2025202420202019201820172016201520142013
Dividends per share0.960.220.420.350.300.240.420.960.940.86

Devon Energy financial health

Cash and short-term investments
413.00M USD
Total debt
11.04B USD
Net cash
-10.63B USD
Free cash flow (TTM)
2.20B USD
Current ratio
0.70
Debt to equity
0.26
Piotroski score
4 / 9
Altman Z-score
1.72

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20251.43B8.78B2.80B
FY2024846.00M9.20B-853.00M
FY2023875.00M6.45B2.60B
FY20221.45B6.70B3.41B
FY20212.10B6.76B2.89B

Devon Energy ownership

Institutions
112.50%
Institutional holders
1,547 (+227)
Free float
98.32%

Who owns the shares

Institutions 100.0% Others 0.0%
As of 30 Jun 2026

Shares free to trade

Free float 1.12B shares ·98.3% Closely held 19.14M shares ·1.7%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q3 20261165.58K14.44K
Q2 2026034.20M633.22K
Q1 202600281.94K93.39K
Q4 2025004.50K11.41K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025628.00M629.00M-0.79%
FY2024623.00M634.00M-1.25%
FY2023639.00M642.00M-1.68%
FY2022651.00M653.00M-1.80%
FY2021663.00M665.00M+76.39%

Source: Financial Modeling Prep

Related Instruments

Title: Devon Energy Corp

Sector: Energy
Industry: Oil & Gas Exploration & Production
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 and Bakken basins. After the merger with Coterra, it will have a foothold in the gas-driven Appalachian Basin as well. At the end of 2025, Devon reported net proved reserves of 2.4 billion barrels of oil equivalent, up from 2.2 billion in 2024. Net production averaged roughly 840,000 barrels of oil equivalent per day in 2025 at a ratio of 73% oil and natural gas liquids and 27% natural gas.

Common questions about Devon Energy stock