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Devon Energy (DVN): financials, SEC filings and peers

Devon Energy (DVN) is an oil & gas exploration & production company in the Energy sector of the S&P 500, headquartered in Oklahoma City, Oklahoma.

It was founded in 1971 and joined the S&P 500 on August 30, 2000.

Its fiscal year ends in December, and its shares trade on the NYSE.

In its SEC filings it is classified as “Crude Petroleum & Natural Gas”.

Devon Energy at a glance

Revenue (12 months)
$19.7B
Revenue growth
+14.6%
Operating margin
24.0%
Net income (12 months)
$3.3B
Free cash flow (12 months)
$4.7B
Cash
$950M
Debt
$12.9B
Diluted EPS (12 months)
$4.21

Twelve months to June 30, 2026, from the 10-Q filed August 5, 2026.

Latest twelve months

Over the twelve months to June 30, 2026, Devon Energy reported revenue of $19.7 billion, up 14.6% from a year earlier.

Its operating margin was 24.0%: for every $100 of sales, about $24 was left as operating profit.

Net income was $3.3 billion (16.7% of revenue), 15.2% higher than a year earlier.

Operating cash flow was $8.6 billion and capital spending $3.9 billion, leaving free cash flow of $4.7 billion (23.9% of revenue). Capital spending equal to 20% of revenue is high; the company is investing heavily.

At the end of the period it held $950 million in cash and $12.9 billion in debt, a net debt position of $11.9 billion.

The diluted share count rose 47.8% in a year, which dilutes existing shareholders.

Five-year trend

  • Revenue went from $4.8 billion in fiscal 2020 to $17.2 billion in fiscal 2025, about 28.9% a year.
  • Free cash flow was positive in each of the last 6 fiscal years.
  • Devon Energy reported a net loss in 1 of the last 6 fiscal years.
Fiscal year20212022202320242025
Revenue$12.2B$19.2B$15.3B$15.9B$17.2B
Revenue growth152.8%57.0%-20.4%4.5%7.8%
Operating margin—————
Net income$2.8B$6.0B$3.7B$2.9B$2.6B
Free cash flow$2.9B$6.0B$2.7B$3.0B$3.1B
Diluted EPS$4.19$9.12$5.84$4.56$4.17

Fiscal years as reported in Devon Energy’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

  • 8-K filed August 27, 2026 — Executive or director change
  • 8-K filed August 20, 2026 — Executive or director change
  • 10-Q filed August 5, 2026 — quarterly report
  • 8-K filed August 4, 2026 — Earnings results
  • 8-K filed June 30, 2026 — Shareholder vote results
  • 8-K filed June 25, 2026 — Material agreement; New debt obligation
  • 8-K filed June 5, 2026 — Other event
  • 8-K filed May 22, 2026 — Other event

All Devon Energy filings on SEC EDGAR

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Questions about Devon Energy

Is Devon Energy's revenue growing?

Yes. Revenue for the twelve months to June 30, 2026 was $19.7 billion, up 14.6% from a year earlier, according to its SEC filings.

Is Devon Energy profitable?

Yes. It earned $3.3 billion in net income over the twelve months to June 30, 2026, a net margin of 16.7%.

Does Devon Energy have more cash or more debt?

At June 30, 2026 it had $950 million in cash and $12.9 billion in debt, so more debt than cash.

When did Devon Energy last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on August 5, 2026.

Which companies are similar to Devon Energy?

In the S&P 500, Devon Energy is grouped in Oil & Gas Exploration & Production within the Energy sector. APA Corporation (APA), ConocoPhillips (COP), EOG Resources (EOG), EQT Corporation (EQT), Expand Energy (EXE) are in the same group.

Understand the numbers

Source: Devon Energy’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.