DEVON ENERGY CORP (DVN) Fundamental Analysis & Valuation

NYSE:DVN • US25179M1036

44.48 USD
-0.04 (-0.09%)
At close: Mar 6, 2026
44.611 USD
+0.13 (+0.29%)
After Hours: 3/6/2026, 8:12:58 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This DVN fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

Taking everything into account, DVN scores 5 out of 10 in our fundamental rating. DVN was compared to 207 industry peers in the Oil, Gas & Consumable Fuels industry. Both the profitability and the financial health of DVN get a neutral evaluation. Nothing too spectacular is happening here. DVN has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

6

1. DVN Profitability Analysis

1.1 Basic Checks

  • DVN had positive earnings in the past year.
  • DVN had a positive operating cash flow in the past year.
  • In the past 5 years DVN has always been profitable.
  • In the past 5 years DVN always reported a positive cash flow from operatings.
DVN Yearly Net Income VS EBIT VS OCF VS FCFDVN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B 6B 8B

1.2 Ratios

  • DVN has a Return On Assets of 8.36%. This is amongst the best in the industry. DVN outperforms 84.54% of its industry peers.
  • Looking at the Return On Equity, with a value of 17.01%, DVN belongs to the top of the industry, outperforming 85.51% of the companies in the same industry.
  • DVN's Return On Invested Capital of 10.97% is amongst the best of the industry. DVN outperforms 87.44% of its industry peers.
  • DVN had an Average Return On Invested Capital over the past 3 years of 13.66%. This is significantly below the industry average of 22.17%.
Industry RankSector Rank
ROA 8.36%
ROE 17.01%
ROIC 10.97%
ROA(3y)11.05%
ROA(5y)14.3%
ROE(3y)22.68%
ROE(5y)30.29%
ROIC(3y)13.66%
ROIC(5y)17.09%
DVN Yearly ROA, ROE, ROICDVN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 -50

1.3 Margins

  • DVN has a better Profit Margin (15.37%) than 67.15% of its industry peers.
  • In the last couple of years the Profit Margin of DVN has declined.
  • The Operating Margin of DVN (22.43%) is better than 60.39% of its industry peers.
  • DVN's Operating Margin has declined in the last couple of years.
  • DVN has a Gross Margin of 46.46%. This is comparable to the rest of the industry: DVN outperforms 56.04% of its industry peers.
  • In the last couple of years the Gross Margin of DVN has declined.
Industry RankSector Rank
OM 22.43%
PM (TTM) 15.37%
GM 46.46%
OM growth 3Y-18.5%
OM growth 5YN/A
PM growth 3Y-20.92%
PM growth 5YN/A
GM growth 3Y-5.62%
GM growth 5Y-9.55%
DVN Yearly Profit, Operating, Gross MarginsDVN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 -50

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. DVN Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so DVN is still creating some value.
  • DVN has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, DVN has more shares outstanding
  • DVN has a better debt/assets ratio than last year.
DVN Yearly Shares OutstandingDVN Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
DVN Yearly Total Debt VS Total AssetsDVN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • DVN has an Altman-Z score of 2.43. This is not the best score and indicates that DVN is in the grey zone with still only limited risk for bankruptcy at the moment.
  • The Altman-Z score of DVN (2.43) is better than 70.53% of its industry peers.
  • DVN has a debt to FCF ratio of 3.01. This is a good value and a sign of high solvency as DVN would need 3.01 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 3.01, DVN is in the better half of the industry, outperforming 76.81% of the companies in the same industry.
  • A Debt/Equity ratio of 0.48 indicates that DVN is not too dependend on debt financing.
  • With a Debt to Equity ratio value of 0.48, DVN perfoms like the industry average, outperforming 51.21% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.48
Debt/FCF 3.01
Altman-Z 2.43
ROIC/WACC1.41
WACC7.76%
DVN Yearly LT Debt VS Equity VS FCFDVN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B

2.3 Liquidity

  • A Current Ratio of 0.98 indicates that DVN may have some problems paying its short term obligations.
  • DVN has a Current ratio (0.98) which is in line with its industry peers.
  • A Quick Ratio of 0.90 indicates that DVN may have some problems paying its short term obligations.
  • DVN has a Quick ratio (0.90) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.98
Quick Ratio 0.9
DVN Yearly Current Assets VS Current LiabilitesDVN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. DVN Growth Analysis

3.1 Past

  • DVN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -19.05%.
  • DVN shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -22.22% yearly.
  • DVN shows a small growth in Revenue. In the last year, the Revenue has grown by 7.83%.
  • Measured over the past years, DVN shows a very strong growth in Revenue. The Revenue has been growing by 28.91% on average per year.
EPS 1Y (TTM)-19.05%
EPS 3Y-22.22%
EPS 5YN/A
EPS Q2Q%-29.31%
Revenue 1Y (TTM)7.83%
Revenue growth 3Y-3.57%
Revenue growth 5Y28.91%
Sales Q2Q%-6.4%

3.2 Future

  • DVN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.11% yearly.
  • The Revenue is expected to decrease by -2.48% on average over the next years.
EPS Next Y-10.37%
EPS Next 2Y7.74%
EPS Next 3Y10.17%
EPS Next 5Y11.11%
Revenue Next Year2.74%
Revenue Next 2Y7.37%
Revenue Next 3Y4.46%
Revenue Next 5Y-2.48%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
DVN Yearly Revenue VS EstimatesDVN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 5B 10B 15B
DVN Yearly EPS VS EstimatesDVN Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 0 2 4 6 8

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Find the best growth stocksShow best growing peers

6

4. DVN Valuation Analysis

4.1 Price/Earnings Ratio

  • DVN is valuated reasonably with a Price/Earnings ratio of 11.38.
  • Compared to the rest of the industry, the Price/Earnings ratio of DVN indicates a rather cheap valuation: DVN is cheaper than 81.16% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of DVN to the average of the S&P500 Index (26.29), we can say DVN is valued rather cheaply.
  • Based on the Price/Forward Earnings ratio of 12.69, the valuation of DVN can be described as correct.
  • DVN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. DVN is cheaper than 73.43% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 24.57. DVN is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 11.38
Fwd PE 12.69
DVN Price Earnings VS Forward Price EarningsDVN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of DVN indicates a rather cheap valuation: DVN is cheaper than 85.99% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, DVN is valued cheaply inside the industry as 86.47% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 9.86
EV/EBITDA 4.64
DVN Per share dataDVN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The decent profitability rating of DVN may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y7.74%
EPS Next 3Y10.17%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. DVN Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.16%, DVN has a reasonable but not impressive dividend return.
  • DVN's Dividend Yield is comparable with the industry average which is at 3.39.
  • DVN's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.16%

5.2 History

  • On average, the dividend of DVN grows each year by 7.65%, which is quite nice.
  • DVN has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)7.65%
Div Incr Years0
Div Non Decr Years0
DVN Yearly Dividends per shareDVN Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • 23.43% of the earnings are spent on dividend by DVN. This is a low number and sustainable payout ratio.
  • DVN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP23.43%
EPS Next 2Y7.74%
EPS Next 3Y10.17%
DVN Yearly Income VS Free CF VS DividendDVN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B
DVN Dividend Payout.DVN Dividend Payout, showing the Payout Ratio.DVN Dividend Payout.PayoutRetained Earnings

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DVN Fundamentals: All Metrics, Ratios and Statistics

DEVON ENERGY CORP

NYSE:DVN (3/6/2026, 8:12:58 PM)

After market: 44.611 +0.13 (+0.29%)

44.48

-0.04 (-0.09%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-17
Earnings (Next)05-04
Inst Owners79.76%
Inst Owner Change3.57%
Ins Owners0.43%
Ins Owner Change0.35%
Market Cap27.58B
Revenue(TTM)17.19B
Net Income(TTM)2.64B
Analysts80
Price Target49.47 (11.22%)
Short Float %3.2%
Short Ratio1.85
Dividend
Industry RankSector Rank
Dividend Yield 2.16%
Yearly Dividend0.97
Dividend Growth(5Y)7.65%
DP23.43%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-13
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.6%
Min EPS beat(2)0.01%
Max EPS beat(2)11.19%
EPS beat(4)2
Avg EPS beat(4)1.22%
Min EPS beat(4)-4.28%
Max EPS beat(4)11.19%
EPS beat(8)5
Avg EPS beat(8)4.17%
EPS beat(12)7
Avg EPS beat(12)3.43%
EPS beat(16)10
Avg EPS beat(16)3.18%
Revenue beat(2)2
Avg Revenue beat(2)2.72%
Min Revenue beat(2)1.43%
Max Revenue beat(2)4.01%
Revenue beat(4)4
Avg Revenue beat(4)2.77%
Min Revenue beat(4)0.2%
Max Revenue beat(4)5.44%
Revenue beat(8)7
Avg Revenue beat(8)2.92%
Revenue beat(12)10
Avg Revenue beat(12)2.09%
Revenue beat(16)12
Avg Revenue beat(16)2.41%
PT rev (1m)7.28%
PT rev (3m)7.1%
EPS NQ rev (1m)-23.75%
EPS NQ rev (3m)-32.19%
EPS NY rev (1m)-5.73%
EPS NY rev (3m)-14.27%
Revenue NQ rev (1m)-0.95%
Revenue NQ rev (3m)-4%
Revenue NY rev (1m)8.05%
Revenue NY rev (3m)4.6%
Valuation
Industry RankSector Rank
PE 11.38
Fwd PE 12.69
P/S 1.61
P/FCF 9.86
P/OCF 4.11
P/B 1.78
P/tB 1.87
EV/EBITDA 4.64
EPS(TTM)3.91
EY8.79%
EPS(NY)3.5
Fwd EY7.88%
FCF(TTM)4.51
FCFY10.14%
OCF(TTM)10.82
OCFY24.32%
SpS27.71
BVpS25.03
TBVpS23.82
PEG (NY)N/A
PEG (5Y)N/A
Graham Number46.93
Profitability
Industry RankSector Rank
ROA 8.36%
ROE 17.01%
ROCE 14.02%
ROIC 10.97%
ROICexc 11.58%
ROICexgc 11.92%
OM 22.43%
PM (TTM) 15.37%
GM 46.46%
FCFM 16.27%
ROA(3y)11.05%
ROA(5y)14.3%
ROE(3y)22.68%
ROE(5y)30.29%
ROIC(3y)13.66%
ROIC(5y)17.09%
ROICexc(3y)14.23%
ROICexc(5y)18.3%
ROICexgc(3y)14.7%
ROICexgc(5y)19.02%
ROCE(3y)17.44%
ROCE(5y)21.82%
ROICexgc growth 3Y-29.34%
ROICexgc growth 5YN/A
ROICexc growth 3Y-29.09%
ROICexc growth 5YN/A
OM growth 3Y-18.5%
OM growth 5YN/A
PM growth 3Y-20.92%
PM growth 5YN/A
GM growth 3Y-5.62%
GM growth 5Y-9.55%
F-Score6
Asset Turnover0.54
Health
Industry RankSector Rank
Debt/Equity 0.48
Debt/FCF 3.01
Debt/EBITDA 0.99
Cap/Depr 108.87%
Cap/Sales 22.77%
Interest Coverage 7.58
Cash Conversion 90.07%
Profit Quality 105.87%
Current Ratio 0.98
Quick Ratio 0.9
Altman-Z 2.43
F-Score6
WACC7.76%
ROIC/WACC1.41
Cap/Depr(3y)164.13%
Cap/Depr(5y)163.19%
Cap/Sales(3y)31.8%
Cap/Sales(5y)27.72%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-19.05%
EPS 3Y-22.22%
EPS 5YN/A
EPS Q2Q%-29.31%
EPS Next Y-10.37%
EPS Next 2Y7.74%
EPS Next 3Y10.17%
EPS Next 5Y11.11%
Revenue 1Y (TTM)7.83%
Revenue growth 3Y-3.57%
Revenue growth 5Y28.91%
Sales Q2Q%-6.4%
Revenue Next Year2.74%
Revenue Next 2Y7.37%
Revenue Next 3Y4.46%
Revenue Next 5Y-2.48%
EBIT growth 1Y-7.8%
EBIT growth 3Y-21.41%
EBIT growth 5YN/A
EBIT Next Year99.02%
EBIT Next 3Y38.22%
EBIT Next 5Y17.41%
FCF growth 1Y427.9%
FCF growth 3Y-6.35%
FCF growth 5Y70.7%
OCF growth 1Y1.68%
OCF growth 3Y-7.68%
OCF growth 5Y37.73%

DEVON ENERGY CORP / DVN FAQ

What is the fundamental rating for DVN stock?

ChartMill assigns a fundamental rating of 5 / 10 to DVN.


What is the valuation status of DEVON ENERGY CORP (DVN) stock?

ChartMill assigns a valuation rating of 6 / 10 to DEVON ENERGY CORP (DVN). This can be considered as Fairly Valued.


Can you provide the profitability details for DEVON ENERGY CORP?

DEVON ENERGY CORP (DVN) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for DVN stock?

The Price/Earnings (PE) ratio for DEVON ENERGY CORP (DVN) is 11.38 and the Price/Book (PB) ratio is 1.78.


What is the expected EPS growth for DEVON ENERGY CORP (DVN) stock?

The Earnings per Share (EPS) of DEVON ENERGY CORP (DVN) is expected to decline by -10.37% in the next year.