Devon Energy
DVN stock analysis · Energy · Oil & Gas Exploration & Production
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗May 7, 2026 Coterra merger changed the issuer from roughly 622m to 1,150m issued shares. June 30 balance sheet supports a rounded 1,150m issued minus 0.1m treasury, but FY2025 selected cash flows and earnings exclude the acquired Coterra operations. Do not carry a pre-merger count or enable ordinary current-issuer valuation without a corporate-action/model-period review.
· Share-class review ↗DCF value
The May 7, 2026 Coterra merger changed Devon's business and share count. Selected FY2025 cash flows, earnings and annual diluted shares describe Devon before that merger. Current-price valuation needs a reviewed comparable operating basis and post-merger capital; the old annual-share DCF is withheld.
How this is calculated ↗Reverse DCF
The May 7, 2026 Coterra merger changed Devon's business and share count. Selected FY2025 cash flows, earnings and annual diluted shares describe Devon before that merger. Current-price valuation needs a reviewed comparable operating basis and post-merger capital; the old annual-share DCF is withheld.
How this is calculated ↗Relative valuation
The May 7, 2026 Coterra merger changed Devon's business and share count. Selected FY2025 cash flows, earnings and annual diluted shares describe Devon before that merger. Current-price valuation needs a reviewed comparable operating basis and post-merger capital; the old annual-share DCF is withheld.
How this is calculated ↗Historical multiples
4 annual observations
How this is calculated ↗Free cash flow yield
The May 7, 2026 Coterra merger changed Devon's business and share count. Selected FY2025 cash flows, earnings and annual diluted shares describe Devon before that merger. Current-price valuation needs a reviewed comparable operating basis and post-merger capital; the old annual-share DCF is withheld.
How this is calculated ↗ROIC / quality
Requires two adjacent years of positive average capital, equity, cash, debt and operating income.
How this is calculated ↗Value composite
The May 7, 2026 Coterra merger changed Devon's business and share count. Selected FY2025 cash flows, earnings and annual diluted shares describe Devon before that merger. Current-price valuation needs a reviewed comparable operating basis and post-merger capital; the old annual-share DCF is withheld.
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
The May 7, 2026 Coterra merger changed Devon's business and share count. Selected FY2025 cash flows, earnings and annual diluted shares describe Devon before that merger. Current-price valuation needs a reviewed comparable operating basis and post-merger capital; the old annual-share DCF is withheld.
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Requires two adjacent years of revenue, operating income and cash flow.
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | — | — | — |
| 10.0% | — | — | — |
| 12.0% | — | — | — |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 16.8B | 2.7B | 6.7B | 3.6B | 31.6B |
| 2024-12-31 | 15.9B | 2.9B | 6.6B | 3.6B | 30.5B |
| 2023-12-31 | 15.1B | 3.8B | 6.5B | 3.9B | 24.5B |
| 2022-12-31 | 19.8B | 6B | 8.5B | 2.5B | 23.3B |
| 2021-12-31 | 13.8B | 2.8B | 4.9B | 2B | 21B |
| 2020-12-31 | 4.7B | -2.7B | 1.5B | 1.2B | 9.9B |
| 2019-12-31 | 6.7B | -353M | 2B | 31M | 13.7B |
| 2018-12-31 | 8.4B | 3.2B | 1.6B | 55M | 19.6B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 16.8B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-18 |
| netIncome | 2.7B | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-18 |
| Parent/common earnings proxy | 2.6B | NetIncomeLoss | 2026-02-18 |
| cfo | 6.7B | NetCashProvidedByUsedInOperatingActivities | 2026-02-18 |
| capex | 3.6B | PaymentsToAcquireProductiveAssets | 2026-02-18 |
| operatingIncome | — | Not reported under a supported tag | — |
| assets | 31.6B | Assets | 2026-02-18 |
| equity | 15.5B | StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-18 |
| Parent book equity proxy | 15.5B | StockholdersEquity | 2026-02-18 |
| debt | 8.4B | LongTermDebt | 2026-02-18 |
| shortDebt | 998M | ShortTermBorrowings | 2026-02-18 |
| cash | 1.4B | CashAndCashEquivalentsAtCarryingValue | 2026-02-18 |
| shares | 633M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-18 |
| dividends | 619M | Reviewed manual correction Bounded FY2025-12-31 consolidated financing-statement extraction. Dividends paid on common stock: -619000000 USD [us-gaap:PaymentsOfOrdinaryDividends]. All 9 financing lines reconcile exactly to reported financing cash flow -2730000000 USD. Explicit cash ordinary/common dividends only. This review applies only to this issuer and fiscal period. | 2026-02-18 |
| buybacks | 1.1B | PaymentsForRepurchaseOfCommonStock | 2026-02-18 |
| issuance | — | Not reported under a supported tag | — |