Frontierby eninvs

Language: EN · RU

← Region

Devon Energy Corporation USD

Update

Delaware Basin–weighted independent E&P with multi-basin US oil and gas portfolio.

Sector: United States — oil & gas exploration & production

Geography: United States

US_EP_DVN

Price chart

42.12 USDDay -1.80%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
42.12 USD · -1.80%
Market cap
25.9 bn USD

Growth

Δ revenue y/y
-14.5%
Δ EBITDA y/y
-31.3%

Multiples

P/E (LTM)
11.4x
3y avg: 7.7x
P/B (FY)
1.7x
P/E (ann.)
54.1x
EV/EBITDA (LTM)
5.1x
3y avg: 4.4x
EV/EBITDA (ann.)
7.9x

Cash return

Dividend yield
2.5%
FCF yield (LTM)
8.3%

Liquidity

Daily turnover (US listing)
692.8 mln USD

Shares: sec_companyfacts/1090012

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 11 / Err: 0 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-09-30 Q3⚠Warn 1
2023-12-31 FY⚠Warn 1
2024-03-31 Q1⚠Warn 1
2024-06-30 Q2⚠Warn 1
2024-09-30 Q3⚠Warn 2
2024-12-31 FY⚠Warn 1
2025-03-31 Q1⚠Warn 1
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3⚠Warn 1
2025-12-31 FY⚠Warn 1
2026-03-31 Q1⚠Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK3.8
y/y -14.5%
0.2
y/y -74.3%
0.9
y/y -0.9%
1.1
y/y -31.3%
0.1
y/y -75.7%
1.7-1.032.5
y/y 5.2%
15.4
y/y 6.1%
3.1%7.7Link
2025-12-31Q4 2025 (3M)OK4.1
y/y -6.4%
0.7
y/y -11.1%
0.9
y/y -8.3%
1.6
y/y -9.6%
0.6
y/y -12.1%
1.5-1.031.6
y/y 3.6%
15.5
y/y 7.1%
17.1%8.1Link
2025-09-30Q3 2025 (3M)OK4.3
y/y 7.6%
0.9
y/y -14.3%
0.9
y/y 10.7%
1.8
y/y -3.6%
0.7
y/y -15.4%
1.7-1.031.2
y/y 3.2%
15.3
y/y 7.5%
6.0%8.2Link
2025-06-30Q2 2025 (3M)OK4.3
y/y 9.4%
1.2
y/y 11.6%
0.9
y/y 19.0%
2.1
y/y 14.8%
0.9
y/y 6.5%
1.5-0.631.4
y/y 24.8%
15.1
y/y 20.0%
24.3%7.7Link
2025-03-31Q1 2025 (3M)OK4.5
y/y 23.8%
0.6
y/y -15.9%
0.9
y/y 26.3%
1.6
y/y 4.6%
0.5
y/y -17.1%
1.9-0.830.9
y/y 23.8%
14.5
y/y 19.5%
13.6%8.2Link
2024-12-31Q4 2024 (3M)OK4.4
y/y —
0.8
y/y —
1.0
y/y —
1.8
y/y —
0.6
y/y —
1.7-1.030.5
y/y 24.5%
14.5
y/y 20.2%
20.1%8.6Link
2024-09-30Q3 2024 (3M)OK4.0
y/y 4.9%
1.1
y/y -0.7%
0.8
y/y 22.0%
1.9
y/y 7.8%
0.8
y/y -10.8%
1.7-4.330.3
y/y 24.8%
14.3
y/y 22.7%
8.1%8.3Link
2024-06-30Q2 2024 (3M)OK3.9
y/y —
1.0
y/y —
0.8
y/y —
1.8
y/y —
0.8
y/y —
1.5-1.025.2
y/y —
12.6
y/y —
27.3%5.5Link
2024-03-31Q1 2024 (3M)OK3.6
y/y —
0.8
y/y —
0.7
y/y —
1.5
y/y —
0.6
y/y —
1.7-0.925.0
y/y —
12.2
y/y —
19.7%5.5Link
2023-12-31FY 2023 (12M)OK15.3
y/y —
4.6
y/y —
2.6
y/y —
7.2
y/y —
3.7
y/y —
1.7-3.924.5
y/y —
12.1
y/y —
31.6%5.8Link
2023-09-30Q3 2023 (3M)OK3.8
y/y —
1.1
y/y —
0.7
y/y —
1.7
y/y —
0.9
y/y —
1.7-0.924.2
y/y —
11.6
y/y —
—6.0Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Proved reserves
2 428 mln boe
2025
Reserve life (R/P)
7.9 yrs
reserves ÷ annual output
Annual production
306.60 mln boe
2025

Production, mln boe

248.202015223.012016198.192017195.282018125.672019121.552020208.782021222.652022240.172023269.002024306.60202575.802026

Proved reserves

YearReserves, mln boe
20252 428
20242 155
20231 817
20221 815
20211 625
2020752
2019757
20184 759
20175 974

Production

YearProduction, mln boeper day
202675.80 *207 679
2025306.60
+14.0%		840 000
2024269.00
+12.0%		737 000
2023240.17
+7.9%		658 000
2022222.65
+6.6%		610 000
2021208.78572 000
2020121.55 *333 000
2019125.67
−35.6%		344 304
2018195.28
−1.5%		535 000

* historical figures with reconstructed scale · * partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

01 0002 0003 0004 0002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-40%-20%0%20%2023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-3 000-2 000-1 00001 0002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

02 0004 0006 0008 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +8% vs +4% the year before — a +3.4 pp move. 3-year CAGR —.
revenue growth by year: 2024 +4% · 2025 +8%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 5.4x · 3-year average 4.8x

EV/EBITDA3-year 75th pct

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

Prod. CAGR (2 yr): +13.1%

841.1795.1749.0703.0657.0202320242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves CAGR (2 yr): +15.6% · Reserves life (R/P): 7.9 yr

24282275212219701817202320242025Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2025-12-31841.12,4281,844584
2024-12-317372,1551,715440
2023-12-316571,817——

Spot EBITDA forecast (next 12 months)

Model: apply spot-vs-LTM commodity price moves to LTM revenue mix (oil/gas/NGL). Purchased products scale with revenue; remaining cash expenses inflate (PPI proxy). Fair value: EBITDA at trailing ~3y average commodity prices, conservative used EBITDA (average of spot and 3y-avg when spot is higher), × 3y average EV/EBITDA − net debt.

Notes: Revenue mix derived from FY2025 10-K production volumes × realized sales prices (see Production & realized prices table below).
Spot 12M revenue
19 109 USDm
+13.2% vs LTM
Spot 12M EBITDA
7 753 USDm
+19.4% vs LTM
EV / Spot EBITDA
4.3x
current EV 33 671m ÷ spot EBITDA 7 753m
Upside to fair mcap
-17.3%
fair mcap 21 134 USDm
Show calculation
Line itemValue
1 · Reported baseline
LTM or latest FY revenue/EBITDA and revenue mix.
LTM revenue (last 4 quarters)16 874 USDm
LTM EBITDA (last 4 quarters)6 494 USDm
Baseline cash costs (revenue − EBITDA)10 380 USDm
Revenue mix: oil / gas / NGL / other79.3% / 7.5% / 13.2% / 0.0%
· Crude oil8 913 USDm (79.3% of implied)
· Natural gas843 USDm (7.5% of implied)
· NGLs1 481 USDm (13.2% of implied)
2 · Commodity prices
Spot move = last ÷ LTM average. 3y-avg-price EBITDA uses trailing ~3y mean ÷ LTM average.
Oil — spot & 3y avg vs LTMspot 84.65 · LTM avg 73.23 · 3y avg — → spot move +15.6%
Gas — spot & 3y avg vs LTMspot 3.22 · LTM avg 3.40 · 3y avg — → spot move -5.2%
NGL — spot & 3y avg vs LTMspot 5 480.00 · LTM avg 4 998.37 · 3y avg — → spot move +9.6%
3 · Cash cost model
Purchased products scale with revenue; other costs inflate.
Purchased products / revenue0.0%
PPI inflation multiplier (12m)1.094
→ Projected purchased cost (at spot revenue)0 USDm
→ Projected other cash cost (inflated)11 356 USDm
4 · Spot forward P&L
Headline spot cards use §4.
= Projected spot revenue19 109 USDm
= Spot EBITDA7 753 USDm
= EBITDA at 3y avg commodity prices5 566 USDm
5 · Valuation vs spot
Current EV vs spot EBITDA.
Enterprise value (current)33 671 USDm
EV ÷ Spot EBITDA4.3x
6 · Fair value & upside
Conservative used EBITDA × 3y average EV/EBITDA → fair market cap.
EBITDA at 3y avg commodity prices5 566 USDm
= Conservative used EBITDA6 659 USDm
3y average EV/EBITDA (fair multiple)4.4x
= Fair enterprise value29 239 USDm
Net debt (balance sheet)8 105 USDm
= Fair market cap21 134 USDm
Current market cap (implied)25 566 USDm
= Upside to fair mcap-17.3%

Flow: baseline → commodity prices → expense model → spot P&L → fair value (used EBITDA × 3y avg EV/EBITDA − net debt). Hover for formulas.

2025-12-31 · FY

Production & proved reserves

FY2025 production and year-end 2025 proved reserves derived from SEC inline XBRL (SRT) ProvedDeveloped* tags; matches Note 21 / supplemental tables in Form 10-K.

Line itemAmount
Crude oil equivalent (net, Mboe/d)841.1
Proved reserves (net, MMboe)2,428
Proved developed (net, MMboe)1,844
Proved undeveloped (net, MMboe)584

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Items 1 and 2 Production / Average Sales Price 'Total' rows (dvn-20251231.htm).

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil142 MMBbls62.77 USD/bbl8,913.379.3%
Natural gas505,000 MMcf1.67 USD/Mcf843.47.5%
NGLs81 MMBbls18.28 USD/bbl1,480.713.2%
Total (implied product revenue)11,237.4100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)11,223USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)5,965USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)367USD mln
Depreciation, depletion & amortization3,595USD mln
General & administrative492USD mln
Exploration expense43USD mln
Income tax expense (benefit)785USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

FY2024 production volumes (total column) and year-end 2024 proved reserves from Note 21 / supplemental tables in Form 10-K.

Line itemAmount
Oil (net, Mbbl/d)398
Crude oil equivalent (net, Mboe/d)737
Proved reserves (net, MMboe)2,155
Proved developed (net, MMboe)1,715
Proved undeveloped (net, MMboe)440

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Items 1 and 2 same tables, 2024 column (dvn-20251231.htm).

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil127 MMBbls73.78 USD/bbl9,370.183.8%
Natural gas438,000 MMcf0.91 USD/Mcf398.63.6%
NGLs70 MMBbls20.20 USD/bbl1,41412.6%
Total (implied product revenue)11,182.6100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)11,176USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)4,764USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)282USD mln
Depreciation, depletion & amortization3,255USD mln
General & administrative500USD mln
Exploration expense28USD mln
Income tax expense (benefit)770USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

FY2023 production and proved reserves — Form 10-K 2023.

Line itemAmount
Crude oil equivalent (net, Mboe/d)657
Proved reserves (net, MMboe)1,817

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Items 1 and 2 same tables, 2023 column (dvn-20251231.htm).

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil117 MMBbls75.98 USD/bbl8,889.782.3%
Natural gas385,000 MMcf1.83 USD/Mcf704.56.5%
NGLs59 MMBbls20.48 USD/bbl1,208.311.2%
Total (implied product revenue)10,802.5100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)10,791USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)4,467USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)225USD mln
Depreciation, depletion & amortization2,554USD mln
General & administrative408USD mln
Exploration expense20USD mln
Income tax expense (benefit)841USD mln

Primary SEC filing for this FY (HTML)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-150.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2026-03-130.24 USDEx-dividend: 0.24 USD per sharePaidYahoo Finance (ex-div)
2025-12-150.24 USDEx-dividend: 0.24 USD per sharePaidYahoo Finance (ex-div)
2025-09-150.24 USDEx-dividend: 0.24 USD per sharePaidYahoo Finance (ex-div)
2025-06-130.24 USDEx-dividend: 0.24 USD per sharePaidYahoo Finance (ex-div)
2025-03-140.24 USDEx-dividend: 0.24 USD per sharePaidYahoo Finance (ex-div)
2024-12-130.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2024-09-130.44 USDEx-dividend: 0.44 USD per sharePaidYahoo Finance (ex-div)
2024-06-140.35 USDEx-dividend: 0.35 USD per sharePaidYahoo Finance (ex-div)
2024-03-140.44 USDEx-dividend: 0.44 USD per sharePaidYahoo Finance (ex-div)
2023-12-140.77 USDEx-dividend: 0.77 USD per sharePaidYahoo Finance (ex-div)
2023-09-140.49 USDEx-dividend: 0.49 USD per sharePaidYahoo Finance (ex-div)
2023-06-140.72 USDEx-dividend: 0.72 USD per sharePaidYahoo Finance (ex-div)
2023-03-140.89 USDEx-dividend: 0.89 USD per sharePaidYahoo Finance (ex-div)
2022-12-091.35 USDEx-dividend: 1.35 USD per sharePaidYahoo Finance (ex-div)
2022-09-091.55 USDEx-dividend: 1.55 USD per sharePaidYahoo Finance (ex-div)
2022-06-101.27 USDEx-dividend: 1.27 USD per sharePaidYahoo Finance (ex-div)
2022-03-111 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)
2021-12-090.84 USDEx-dividend: 0.84 USD per sharePaidYahoo Finance (ex-div)
2021-09-100.49 USDEx-dividend: 0.49 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.devonenergy.com/investors

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)