Devon Energy Corporation
As of Fiscal Year 2025 (ended December 31, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total revenue (FY2025) | $17,188 million, up 7.8% year-over-year (FY2024: $15,940 million) |
| Net earnings attributable to Devon (FY2025) | $2,642 million, down 8.6% year-over-year (FY2024: $2,891 million) |
| Core earnings (non-GAAP, FY2025) | $2,520 million, or $3.92 per diluted share |
| Diluted EPS (GAAP, FY2025) | $4.17 per share |
| Total production (FY2025 average) | 840,000 Boe/d (46% oil), up ~14% year-over-year from 737,000 Boe/d in FY2024 |
| Operating cash flow (FY2025) | $6,711 million |
| Free cash flow (FY2025) | $3,119 million |
| Capital expenditures (FY2025) | $3,638 million |
| Net margin (FY2025, calculated) | ~15.4% (net earnings attributable to Devon / total revenue) |
| Dividend (FY2025) | Fixed dividend of $0.24/share per quarter ($0.96/share annualized); no variable dividend was declared in 2025. Total dividends paid on common stock: $619 million. (Devon announced a 31% dividend increase to $0.315/share and an $8 billion buyback for 2026 following the Coterra merger -- a forward-looking item, not an FY2025 actual.) |
| Proved reserves (year-end 2025) | 2,428 MMBoe (961 MMBbls oil, 720 MMBbls NGL, 4,482 Bcf natural gas) |
| Employees | Approximately 2,200, all U.S.-based, as of December 31, 2025 |
Sources: Primary sources: Devon Energy's Fourth-Quarter and Full-Year 2025 earnings release and supplemental financial tables (furnished to the SEC as exhibits to Form 8-K, released ~February 2026) and the FY2025 Form 10-K. Prior-year (2021-2024) revenue figures were cross-checked directly against Devon's own prior-year supplemental tables. The revenue-by-commodity pie is NOT a company-reported line item -- Devon discloses only a combined 'oil, gas and NGL sales' figure -- so it was estimated by multiplying disclosed average daily production by disclosed full-year realized prices (excluding hedges); see that widget's subtitle for the reconciliation. 'Operating margin' in the KPI table is similarly a calculated estimate, since Devon's income statement does not present a GAAP operating-income subtotal. Devon Energy agreed to combine with Coterra Energy in a deal announced February 2026 and completed May 2026; that merger is a subsequent event and is NOT reflected in any FY2025 standalone figures below, aside from a forward-looking dividend/buyback plan noted in the KPI table.