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Devon Energy Corporation (DVN) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · Oil & Gas Exploration & Production · DATA UPDATED 2026-09-12

Devon Energy Corporation (DVN) operates in the Oil & Gas Exploration & Production industry and is headquartered in Houston, United States with about 2,200 employees. Its market capitalization is roughly $53 billion. In the fiscal year ended 2025-12-31, DVN reported $17.2B in revenue and $2.6B in net income.

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.

Interactive charts & full statements → Open the DVN valuation workbench →

DVN Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$19.7B	$17.2B	$15.9B	$15.3B	$19.2B	$12.2B	$4.8B	$6.2B	$8.9B	$6.5B	$10.3B	$13.1B	$19.6B	$10.4B	$9.5B	$11.4B	$9.9B	$7.6B	$13.9B	$11.4B	$9.8B
Gross Profit	$6.7B	$4.4B	$4.7B	$5.4B	$8.4B	$3.7B	$392M	$714M	$2.2B	$1.1B	$872M	$223M	$8.9B	$5.6B	$5.0B	$7.1B	$6.7B	$4.9B	$10.4B	$8.3B	$7.1B
Gross Margin %	34.0%	25.6%	29.5%	35.2%	43.7%	30.1%	8.1%	11.5%	24.7%	17.6%	8.5%	1.7%	45.5%	53.9%	52.9%	61.7%	66.9%	64.7%	75.0%	73.1%	72.8%
Operating Income (EBIT)	$4.7B	$3.9B	$4.2B	$4.9B	$7.9B	$3.2B	($590M)	$160M	$1.5B	$152M	($2.9B)	($20.7B)	$4.7B	$567M	$74M	$4.6B	$4.0B	$2.3B	($3.8B)	$4.5B	$4.1B
Operating Margin %	23.9%	22.4%	26.2%	32.4%	41.3%	26.6%	-12.2%	2.6%	16.8%	2.3%	-28.1%	-157.7%	24.0%	5.5%	0.8%	40.5%	40.5%	29.5%	-27.3%	39.8%	41.5%
Net Income	$3.3B	$2.6B	$2.9B	$3.7B	$6.0B	$2.8B	($2.7B)	($355M)	$3.1B	$898M	($1.1B)	($12.9B)	$1.6B	($20M)	($206M)	$4.7B	$4.5B	($2.5B)	($2.1B)	$3.6B	$2.8B
Net Margin %	16.7%	15.4%	18.1%	24.6%	31.4%	23.1%	-55.5%	-5.7%	34.4%	13.8%	-10.2%	-98.1%	8.2%	-0.2%	-2.2%	41.1%	45.8%	-32.5%	-15.5%	31.7%	29.1%
EBITDA	$8.8B	$7.6B	$7.4B	$7.5B	$10.4B	$5.4B	($1.5B)	$1.6B	$2.5B	$1.4B	$898M	($15.3B)	$7.9B	$3.3B	$2.9B	$6.9B	$5.8B	($2.2B)	($628M)	$7.5B	$6.4B
Earnings Per Share (EPS)	$4.21	$4.20	$4.64	$5.84	$9.21	$4.23	$-7.11	$-0.89	$6.10	$1.70	$-2.06	$-31.30	$3.91	$-0.05	$-0.51	$11.25	$10.32	$-5.56	$-4.89	$8.01	$6.35
Shares Outstanding (M)	940M	629M	623M	642M	653M	665M	377M	401M	502M	528M	513M	412M	411M	406M	404M	418M	441M	446M	439M	450M	448M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DVN Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$7.4B	$3.8B	$4.1B	$4.3B	$4.3B	$4.5B	$4.4B	$4.0B
Gross Profit	$4.2B	$462M	$981M	$1.1B	$1.1B	$1.2B	$1.1B	$1.3B
Gross Margin %	56.0%	12.1%	23.8%	25.5%	26.0%	26.8%	26.1%	32.8%
Operating Income (EBIT)	$2.6B	$312M	$841M	$982M	$981M	$1.1B	$943M	$1.2B
Operating Margin %	34.5%	8.2%	20.4%	22.7%	22.9%	23.6%	21.4%	29.8%
Net Income	$1.9B	$120M	$562M	$687M	$899M	$494M	$639M	$812M
Net Margin %	25.8%	3.1%	13.6%	15.9%	21.0%	11.1%	14.5%	20.2%
EBITDA	$4.0B	$1.2B	$1.8B	$1.9B	$2.2B	$1.7B	$1.9B	$2.0B
Earnings Per Share (EPS)	$2.03	$0.19	$0.90	$1.08	$1.41	$0.77	$1.03	$1.30
Shares Outstanding (M)	940M	622M	622M	636M	636M	645M	623M	623M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DVN Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$8.6B	$6.7B	$6.6B	$6.5B	$8.5B	$4.9B	$1.4B	$2.1B	$2.7B	$2.9B	$1.7B	$5.4B	$6.0B	$5.4B	$5.0B	$6.2B	$5.5B	$4.7B	$9.4B	$6.7B	$6.0B
Capital Expenditures (CapEx)	$6.9B	$3.9B	$7.5B	$3.9B	$5.1B	$2.0B	$1.2B	$1.9B	$2.5B	$2.8B	$4.0B	$6.4B	$13.4B	$6.8B	$8.2B	$7.5B	$6.5B	$4.9B	$9.4B	$6.2B	$7.6B
Free Cash Flow (FCF)	$1.7B	$2.8B	($853M)	$2.6B	$3.4B	$2.9B	$193M	$130M	$198M	$104M	($2.2B)	($1.0B)	($7.5B)	($1.3B)	($3.3B)	($1.3B)	($998M)	($142M)	$33M	$493M	($1.6B)
FCF Margin %	8.5%	16.3%	-5.3%	17.0%	17.8%	23.7%	4.0%	2.1%	2.2%	1.6%	-21.6%	-7.8%	-38.2%	-12.7%	-34.4%	-11.5%	-10.0%	-1.9%	0.2%	4.3%	-16.0%
Dividends Paid	$821M	$619M	$937M	$1.9B	$3.4B	$1.3B	$257M	$140M	$149M	$127M	$221M	$396M	$386M	$348M	$324M	$278M	$281M	$284M	$289M	$259M	$209M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DVN Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$3.7B	$1.7B	$1.5B	$1.7B	$1.5B	$1.9B	$1.7B	$1.7B
Capital Expenditures (CapEx)	$4.0B	$1.0B	$933M	$870M	$956M	$942M	$1.0B	$4.5B
Free Cash Flow (FCF)	($373M)	$626M	$601M	$820M	$589M	$1.0B	$622M	($2.8B)
FCF Margin %	-5.0%	16.4%	14.6%	18.9%	13.8%	22.5%	14.1%	-70.0%
Dividends Paid	$366M	$155M	$149M	$151M	$156M	$163M	$143M	$272M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DVN Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$70.9B	$31.6B	$30.5B	$24.5B	$23.7B	$21.0B	$9.9B	$13.7B	$19.6B	$30.2B	$25.9B	$29.5B	$50.6B	$42.9B	$43.3B	$41.1B	$32.9B	$29.7B	$31.9B	$41.5B	$35.1B
Cash & Cash Equivalents	$1.0B	$1.4B	$846M	$875M	$1.5B	$2.3B	$2.2B	$1.5B	$2.4B	$2.6B	$2.0B	$2.3B	$1.5B	$6.1B	$4.6B	$5.6B	$2.9B	$646M	$195M	$1.4B	$692M
Total Liabilities	$29.1B	$16.1B	$15.8B	$12.3B	$12.4B	$11.6B	$6.9B	$7.8B	$10.4B	$16.1B	$15.5B	$18.5B	$24.3B	$22.4B	$22.0B	$19.7B	$13.7B	$14.1B	$14.8B	$19.4B	$17.6B
Total Debt (Short + Long-Term)	$11.4B	$8.4B	$8.9B	$6.2B	$6.4B	$6.8B	$4.6B	$4.6B	$5.9B	$10.4B	$20.3B	$13.1B	$11.3B	$12.0B	$11.6B	$9.8B	$5.6B	$7.4B	$6.0B	$7.9B	$7.8B
Total Shareholders' Equity	$41.7B	$15.5B	$14.5B	$12.1B	$11.2B	$9.4B	$3.0B	$5.9B	$9.2B	$9.3B	$10.4B	$7.0B	$21.5B	$20.5B	$21.3B	$21.4B	$19.3B	$15.6B	$17.1B	$22.0B	$17.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive DVN viewer.

DVN Metric Deep Dives

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