Devon Energy Corporation (DVN) Income Statement
DVN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsDVN revenue and net income
Where DVN's revenue goes
2025Each bar shows an amount and its share of revenue. DVN kept 15.4% of revenue as net income.
DVN profit margins
DVN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.8% | −3.6% | +28.9% | +2.7% |
| Gross profit | −6.8% | −19.3% | +62.1% | +34.7% |
| Operating income | −7.8% | −21.3% | — | — |
| Net income | −8.6% | −24.0% | — | — |
| EPS (diluted) | −19.0% | −22.2% | — | +4.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DVN quarterly EPS vs estimates
Devon Energy beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 5, 2026 (estimate $1.22).
DVN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.19B | $15.94B | $15.26B | $19.17B | $12.21B | $4.83B | $6.22B | $8.90B | $6.50B | $10.30B |
| Cost of revenue | $12.80B | $11.23B | $9.89B | $10.80B | $8.53B | $4.44B | $5.51B | $6.70B | $5.36B | $9.43B |
| Gross profit | $4.39B | $4.71B | $5.37B | $8.37B | $3.68B | $392.0M | $714.0M | $2.19B | $1.14B | $872.0M |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $492.0M | $500.0M | $428.0M | $424.0M | $405.0M | $353.0M | $517.0M | $574.0M | $645.0M | $1.00B |
| Total operating expenses | $535.0M | $528.0M | $428.0M | $449.0M | $433.0M | $392.0M | $554.0M | $702.0M | $991.0M | $3.77B |
| Operating income | $3.86B | $4.18B | $4.94B | $7.92B | $3.25B | −$590.0M | $160.0M | $1.49B | $152.0M | −$2.90B |
| Interest income | $441.0M | $62.0M | $59.0M | $38.0M | $2.0M | $247.0M | $260.0M | $287.0M | $337.0M | $571.0M |
| Interest expense | $511.0M | $401.0M | $363.0M | $347.0M | $361.0M | $282.0M | $250.0M | $594.0M | $337.0M | $427.0M |
| Income before taxes | $3.47B | $3.71B | $4.62B | $7.78B | $2.90B | −$3.09B | −$109.0M | $944.0M | $40.0M | −$1.32B |
| Income taxes | $785.0M | $770.0M | $841.0M | $1.74B | $65.0M | −$547.0M | −$30.0M | $230.0M | $7.0M | $141.0M |
| Net income | $2.64B | $2.89B | $3.75B | $6.01B | $2.81B | −$2.68B | −$355.0M | $3.06B | $898.0M | −$1.06B |
| EBITDA | $7.56B | $7.37B | $7.55B | $10.37B | $5.44B | −$1.53B | $1.65B | $2.46B | $1.39B | $898.0M |
| EPS (diluted) | $3.91 | $4.83 | $5.70 | $8.31 | $3.52 | −$0.39 | $1.38 | $1.27 | $1.59 | −$0.13 |
| Gross margin | 25.5% | 29.5% | 35.2% | 43.7% | 30.1% | 8.1% | 11.5% | 24.7% | 17.6% | 8.5% |
| Operating margin | 22.4% | 26.2% | 32.4% | 41.3% | 26.6% | −12.2% | 2.6% | 16.8% | 2.3% | −28.1% |
| Net margin | 15.4% | 18.1% | 24.6% | 31.4% | 23.0% | −55.5% | −5.7% | 34.4% | 13.8% | −10.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.42B | $3.81B | $4.12B | $4.33B | $4.28B | $4.45B | $4.40B | $4.02B | $3.92B | $3.60B | $4.14B | $3.84B |
| Cost of revenue | $3.27B | $3.35B | $3.14B | $3.23B | $3.17B | $3.26B | $3.25B | $2.71B | $2.66B | $2.61B | $2.50B | $2.57B |
| Gross profit | $4.15B | $462.0M | $981.0M | $1.10B | $1.11B | $1.19B | $1.15B | $1.32B | $1.25B | $990.0M | $1.64B | $1.27B |
| Sales, general & admin | $175.0M | $126.5M | $135.0M | $115.4M | $133.0M | $130.0M | $155.0M | $114.1M | $115.1M | $115.1M | $111.0M | $99.0M |
| Total operating expenses | $1.59B | $150.0M | $140.0M | $122.0M | $133.0M | $140.0M | $206.0M | $117.0M | $117.0M | $123.0M | $123.0M | $94.0M |
| Operating income | $2.56B | $312.0M | $841.0M | $982.0M | $981.0M | $1.05B | $943.0M | $1.20B | $1.14B | $867.0M | $1.52B | $1.17B |
| Interest income | $22.0M | $14.0M | $105.0M | $18.0M | $112.0M | $10.0M | $16.0M | $19.0M | $14.0M | $13.0M | $12.0M | $12.0M |
| Interest expense | $144.0M | $123.0M | $119.0M | $125.0M | $130.0M | $133.0M | $139.0M | $98.0M | $90.0M | $89.0M | $87.0M | $90.0M |
| Income before taxes | $2.38B | $166.0M | $747.0M | $912.0M | $1.16B | $646.0M | $840.0M | $1.06B | $1.04B | $768.0M | $1.43B | $1.07B |
| Income taxes | $473.0M | $46.0M | $185.0M | $219.0M | $244.0M | $137.0M | $187.0M | $239.0M | $185.0M | $159.0M | $269.0M | $152.0M |
| Net income | $1.91B | $120.0M | $562.0M | $687.0M | $899.0M | $494.0M | $639.0M | $812.0M | $844.0M | $596.0M | $1.15B | $910.0M |
| EBITDA | $3.97B | $1.19B | $1.76B | $1.92B | $2.20B | $1.69B | $1.94B | $1.96B | $1.90B | $1.58B | $2.17B | $1.82B |
| EPS (diluted) | $1.57 | $1.04 | $0.82 | $1.04 | $0.84 | $1.21 | $1.16 | $1.10 | $1.41 | $1.16 | $1.41 | $1.65 |
| Gross margin | 56.0% | 12.1% | 23.8% | 25.5% | 26.0% | 26.8% | 26.1% | 32.8% | 32.0% | 27.5% | 39.6% | 33.1% |
| Operating margin | 34.5% | 8.2% | 20.4% | 22.7% | 22.9% | 23.6% | 21.4% | 29.8% | 29.0% | 24.1% | 36.7% | 30.6% |
| Net margin | 25.8% | 3.2% | 13.6% | 15.9% | 21.0% | 11.1% | 14.5% | 20.2% | 21.5% | 16.6% | 27.8% | 23.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DVN's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DVN financial results
In fiscal year 2025 (ended December 31, 2025), Devon Energy reported revenue of $17.2 billion, up 7.8% from the year before. It had net income of $2.6 billion (down 8.6%), a net profit margin of 15.4%. Diluted earnings per share came to $3.91. Over five years revenue grew at an average rate of 28.9% a year.
See the DVN stock overview for the latest quote and news, or the DVN chart for price history and technical indicators.
DVN income statement FAQ
What is Devon Energy's annual revenue?
Devon Energy reported total revenue of $17.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.8% from $15.9 billion the previous year.
Is Devon Energy profitable?
Yes. Devon Energy reported net income of $2.6 billion in fiscal 2025, a net profit margin of 15.4%; its operating margin was 22.4%.
What is Devon Energy's gross margin?
Devon Energy's gross margin was 25.5% in fiscal 2025: for every $100 of revenue, Devon Energy kept $26 after the direct cost of its products and services.
How fast is Devon Energy growing?
Revenue grew 28.9% a year on average over the last five fiscal years, from $4.8 billion to $17.2 billion.
What are Devon Energy's earnings per share?
Devon Energy earned $3.91 per diluted share in fiscal 2025, compared with $4.83 a year earlier.
When will Devon Energy report its next earnings?
Devon Energy is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Devon Energy's fiscal year end?
Devon Energy's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.