Devon Energy (DVN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Devon Energy

NYSE•Energy•Oil & Gas E&P

$48.53-0.19(<0.01%)Market open

Market Cap

$45.65B

P/E

13.9x

P/S

2.3x

P/B

1.1x

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. The company operates in Delaware Basin located in southeast New Mexico and west Texas, Eagle Ford located in North America, Anadarko Basin located in western Oklahoma, Williston Basin located in North Dakota, and Powder River Basin located in Wyoming. Devon Energy Corporation was founded in 1971 and is headquartered in Houston, Texas.

How this company scores

ExcellentMetricSide Score: 85/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (18/25).

Profitability21/25

Growth21/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsRising earningsLow leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 13.9x5y range 8.0x – 29.9x

Currently near its 20-quarter median.

P/S · 2.3x5y range 1.8x – 4.2x

Currently near its 20-quarter median.

P/B · 1.1x5y range 1.1x – 6.4x

Currently below its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 13.1% — watch for continued compression, which may signal competitive or cost pressure.

Price & Volume

Market Cap $45.65B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $19.68B
Q. Revenue: $7.42B
TTM EBITDA: $8.30B
TTM Op. Income: $4.21B
Q. Op. Income: $2.38B
TTM Net Income: $3.28B
Q. Net Income: $1.91B
EPS: $2.04
Shares Out.: $937.00M

$19.68B in TTM revenue grew 14.6% YoY, reaching $7.42B last quarter. TTM EBITDA of $8.30B and TTM operating income of $4.21B show growth is flowing through to the bottom line. TTM net income of $3.28B means revenue is converting into profit. Over the past year, TTM revenue is up 15% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 51.2%
Op. Margin: 32.1%
Net Margin: 25.8%

Op. margin of 32.1% is up 5.0% YoY — cost efficiency is improving. Net margin at 25.8% Over the past year, operating margin is up 19% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 13.9x
P/S Ratio: 2.3x
P/B Ratio: 1.1x

At 13.9x P/E, the stock trades below typical market levels. P/S of 2.3x and P/B of 1.1x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is up 31% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $70.89B
Cash: $950.00M
Long-Term Debt: $9.89B
Book Value: $41.75B
D/E Ratio: 0.2
Debt/EBITDA: 2.6

With $70.89B in assets and $9.89B in long-term debt, D/E is 0.2and book value is $41.75B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 57% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $3.67B
TTM Free Cash Flow: $4.69B
FCF Margin: 23.9%
FCF / Net Income: 1.4

TTM FCF of $4.69B on $3.67B in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 50% — an improving trend.