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NYSE · Energy

Devon Energy Corp. (DVN)

As-reported financials and SEC filings for Devon Energy Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Devon Energy Corp.

Devon Energy is an oil and natural gas company that explores for, produces, and markets oil, natural gas, and natural gas liquids. It operates in various regions including the Barnett Shale, Eagle Ford, Delaware Basin, and Williston Basin. The company serves customers in the energy sector by providing upstream production and midstream marketing services.

Snapshot

Revenue
$16.79B
Revenue growth (YoY)
5.4%
Net income
$2.64B
Diluted EPS
$4.17
Gross margin
—
Operating margin
—
Net margin
15.7%
FCF margin
18.6%
ROE
17.0%
net income / fiscal-year-end equity
P/E
10.7×
trailing when available, otherwise FY EPS
Market cap
$56.53B
Long-term debt / equity
0.48×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Devon Energy

  • Revenue grew 5.4% to $16.8B in FY2025, in line with the 5.1% the year before.
  • Most recent quarter Q2 FY2026: revenue $7.0B, up 73.0% from Q2 FY2025.
  • Free cash flow was $3.1B in FY2025, 18.6% of revenue.
  • Net income fell 8.7% to $2.6B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Devon Energy’s fundamentals sit among the 61 oil and gas companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin15.7%
67th percentile of 58
FCF margin18.6%
68th percentile of 20
Revenue growth (YoY)+5.4%
51st percentile of 60
ROE17.0%
88th percentile of 49
P/E10.7×
49th percentile of 36
Long-term debt / equity0.48×
58th percentile of 37
Short interest1.93d
19th percentile of 60

Devon Energy’s return on equity of 17.0% ranks in the 88th percentile of the 49 oil and gas companies reporting it.

1 reported insider purchase (code P) totaling $199,876 in the last 90 days, against 1 sale totaling $344,218. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+6 quant / multi-strat
Initiated / added
7
2 new, 5 added
Reduced / exited
2
2 trimmed, 0 exited
Combined position
$1.74B
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ2 2026$497.7M12.0MAdded
Citadel AdvisorsquantQ2 2026$366.5M8.9MAdded
Millennium ManagementquantQ2 2026$350.3M8.5MAdded
AQR Capital ManagementquantQ2 2026$296.2M7.2MAdded
Point72 Asset ManagementquantQ2 2026$136.0M3.3MNew
Gotham Asset ManagementQ2 2026$36.0M870.5KReduced
Bridgewater AssociatesQ2 2026$30.4M735.2KNew
Yacktman Asset ManagementQ2 2026$21.1M510.9KAdded
Two Sigma InvestmentsquantQ2 2026$7.2M173.6KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
1
1 insider
Bought (90d)
$200K
code P value
Sells (90d)
1
$344K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-09-14
Robert Ferrall Lowe IIIEVP EXPLORATION & PRODUCTIONSell6.8K$50.95$344K
2026-09-14
Clay M. GasparPRESIDENT AND CEOBuy3.9K$51.08$200K
2026-06-10
filed 2026-06-12
Andrea AlexanderSVP & CHIEF ADMIN OFFICERSell18.0K$46.74$841K
2026-05-14
filed 2026-05-15
Adam M. VelaSVP & GENERAL COUNSELSell24.3K$47.21$1.1M
2026-05-11
filed 2026-05-12
Jeffrey L. RitenourEVP & CHIEF CORP DEV OFFICERSell70.0K$46.66$3.3M

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
28.4M
settled 2026-09-30
Change vs prior
-10.1%
vs previous settlement
Days to cover
1.93
at avg daily volume
Avg daily volume
14.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3028.4M-10.1%1.93
2026-09-1531.6M+15.1%2.82
2026-08-3127.5M+12.5%2.60
2026-08-1424.4M-19.1%2.37
2026-07-3130.2M-4.2%3.01
2026-07-1531.5M+7.4%2.56
2026-06-3029.3M-0.6%1.78
2026-06-1529.5M+8.3%2.00

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$16.79B$15.92B$15.14B$19.17B$12.21B
Gross profit—————
Operating income—————
Pre-tax income$3.47B$3.71B$4.62B$7.78B$2.90B
Net income$2.64B$2.89B$3.74B$6.03B$2.81B
Diluted EPS$4.17$4.56$5.84$9.12$4.19

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$1.38B$811.0M$853.0M$1.31B$2.10B
Current assets$4.01B$3.43B$3.16B$3.89B$4.25B
Total assets$31.60B$30.49B$24.49B$23.27B$21.02B
Current liabilities$4.09B$3.31B$2.95B$3.10B$3.09B
Long-term debt$7.39B$8.40B$5.67B$6.19B$6.48B
Total liabilities
Total equity$15.53B$14.70B$12.22B$11.30B$9.40B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$6.71B$6.60B$6.54B$8.53B$4.90B
Capital expenditure$3.59B$3.65B$3.88B$2.54B$1.99B
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$7.00B73.0%$1.91B$2.03
Q1 FY2026$4.51B-0.9%$120.0M$0.19
Q4 FY2025-12.3%
Q3 FY2025$4.25B12.0%$687.0M$1.09
Q2 FY2025$4.05B4.0%$899.0M$1.41
Q1 FY2025$4.55B21.6%$494.0M$0.77
Q4 FY202417.4%
Q3 FY2024$3.80B-5.8%$812.0M$1.30

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorEnergy
SIC industryCrude Petroleum & Natural Gas
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2014
SEC CIK1090012

Selected SEC filings

10-K/A2026-04-21
View on EDGAR →
10-K2026-02-18
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
10-Q2025-11-06
View on EDGAR →
10-Q2025-08-06
View on EDGAR →
8-K2026-10-08
View on EDGAR →
8-K2026-08-27
View on EDGAR →

Largest oil and gas peers

All oil and gas stocks →All Energy companies →

DVN head to head

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.