Stock Analysis on Net
Stock Analysis on Net

Devon Energy Corp. (NYSE:DVN)

This company has been moved to the archive! The financial data has not been updated since November 8, 2023.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Devon Energy Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Activity Ratio
Total Asset Turnover
Reported 0.81 0.58 0.49 0.45 0.55
Adjusted 0.81 0.58 0.49 0.45 0.54
Liquidity Ratio
Current Ratio
Reported 1.25 1.38 2.26 2.00 1.99
Adjusted 1.27 1.40 2.33 2.02 2.04
Solvency Ratios
Debt to Equity
Reported 0.60 0.73 1.58 0.78 0.65
Adjusted 0.52 0.69 1.43 0.72 0.62
Debt to Capital
Reported 0.37 0.42 0.61 0.44 0.39
Adjusted 0.34 0.41 0.59 0.42 0.38
Financial Leverage
Reported 2.12 2.27 3.44 2.36 2.13
Adjusted 1.84 2.14 3.11 2.18 1.96
Profitability Ratios
Net Profit Margin
Reported 31.38% 23.05% -55.51% -5.71% 28.54%
Adjusted 37.56% 23.35% -56.44% -20.40% 8.31%
Return on Equity (ROE)
Reported 53.86% 30.37% -92.89% -6.12% 33.36%
Adjusted 55.89% 28.98% -85.53% -20.17% 8.80%
Return on Assets (ROA)
Reported 25.36% 13.38% -27.04% -2.59% 15.66%
Adjusted 30.34% 13.56% -27.51% -9.25% 4.48%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Devon Energy Corp. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Devon Energy Corp. adjusted current ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Devon Energy Corp. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Devon Energy Corp. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Devon Energy Corp. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Devon Energy Corp. adjusted net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Devon Energy Corp. adjusted ROE improved from 2020 to 2021 and from 2021 to 2022.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Devon Energy Corp. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.

Devon Energy Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Revenues 19,169 12,206 4,828 6,220 10,734
Total assets 23,721 21,025 9,912 13,717 19,566
Activity Ratio
Total asset turnover1 0.81 0.58 0.49 0.45 0.55
Adjusted
Selected Financial Data (US$ in millions)
Revenues 19,169 12,206 4,828 6,220 10,734
Adjusted total assets2 23,730 21,025 9,907 13,725 19,912
Activity Ratio
Adjusted total asset turnover3 0.81 0.58 0.49 0.45 0.54

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Total asset turnover = Revenues ÷ Total assets
= 19,169 ÷ 23,721 = 0.81

2 Adjusted total assets. See details »

3 2022 Calculation
Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 19,169 ÷ 23,730 = 0.81

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Devon Energy Corp. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Current assets 3,891 4,249 3,260 3,851 4,437
Current liabilities 3,105 3,087 1,440 1,927 2,226
Liquidity Ratio
Current ratio1 1.25 1.38 2.26 2.00 1.99
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 3,900 4,256 3,271 3,859 4,445
Adjusted current liabilities3 3,071 3,049 1,405 1,907 2,179
Liquidity Ratio
Adjusted current ratio4 1.27 1.40 2.33 2.02 2.04

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 3,891 ÷ 3,105 = 1.25

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2022 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 3,900 ÷ 3,071 = 1.27

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Devon Energy Corp. adjusted current ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt 6,697 6,737 4,550 4,541 5,947
Stockholders’ equity attributable to Devon 11,167 9,262 2,885 5,802 9,186
Solvency Ratio
Debt to equity1 0.60 0.73 1.58 0.78 0.65
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 6,718 6,760 4,553 4,555 6,285
Adjusted total equity3 12,883 9,835 3,186 6,290 10,134
Solvency Ratio
Adjusted debt to equity4 0.52 0.69 1.43 0.72 0.62

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity attributable to Devon
= 6,697 ÷ 11,167 = 0.60

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2022 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 6,718 ÷ 12,883 = 0.52

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Devon Energy Corp. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt 6,697 6,737 4,550 4,541 5,947
Total capital 17,864 15,999 7,435 10,343 15,133
Solvency Ratio
Debt to capital1 0.37 0.42 0.61 0.44 0.39
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 6,718 6,760 4,553 4,555 6,285
Adjusted total capital3 19,601 16,595 7,739 10,845 16,419
Solvency Ratio
Adjusted debt to capital4 0.34 0.41 0.59 0.42 0.38

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 6,697 ÷ 17,864 = 0.37

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2022 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 6,718 ÷ 19,601 = 0.34

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Devon Energy Corp. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total assets 23,721 21,025 9,912 13,717 19,566
Stockholders’ equity attributable to Devon 11,167 9,262 2,885 5,802 9,186
Solvency Ratio
Financial leverage1 2.12 2.27 3.44 2.36 2.13
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 23,730 21,025 9,907 13,725 19,912
Adjusted total equity3 12,883 9,835 3,186 6,290 10,134
Solvency Ratio
Adjusted financial leverage4 1.84 2.14 3.11 2.18 1.96

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity attributable to Devon
= 23,721 ÷ 11,167 = 2.12

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2022 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 23,730 ÷ 12,883 = 1.84

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Devon Energy Corp. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to Devon 6,015 2,813 (2,680) (355) 3,064
Revenues 19,169 12,206 4,828 6,220 10,734
Profitability Ratio
Net profit margin1 31.38% 23.05% -55.51% -5.71% 28.54%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss)2 7,200 2,850 (2,725) (1,269) 892
Revenues 19,169 12,206 4,828 6,220 10,734
Profitability Ratio
Adjusted net profit margin3 37.56% 23.35% -56.44% -20.40% 8.31%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Net profit margin = 100 × Net earnings (loss) attributable to Devon ÷ Revenues
= 100 × 6,015 ÷ 19,169 = 31.38%

2 Adjusted net earnings (loss). See details »

3 2022 Calculation
Adjusted net profit margin = 100 × Adjusted net earnings (loss) ÷ Revenues
= 100 × 7,200 ÷ 19,169 = 37.56%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Devon Energy Corp. adjusted net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to Devon 6,015 2,813 (2,680) (355) 3,064
Stockholders’ equity attributable to Devon 11,167 9,262 2,885 5,802 9,186
Profitability Ratio
ROE1 53.86% 30.37% -92.89% -6.12% 33.36%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss)2 7,200 2,850 (2,725) (1,269) 892
Adjusted total equity3 12,883 9,835 3,186 6,290 10,134
Profitability Ratio
Adjusted ROE4 55.89% 28.98% -85.53% -20.17% 8.80%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
ROE = 100 × Net earnings (loss) attributable to Devon ÷ Stockholders’ equity attributable to Devon
= 100 × 6,015 ÷ 11,167 = 53.86%

2 Adjusted net earnings (loss). See details »

3 Adjusted total equity. See details »

4 2022 Calculation
Adjusted ROE = 100 × Adjusted net earnings (loss) ÷ Adjusted total equity
= 100 × 7,200 ÷ 12,883 = 55.89%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Devon Energy Corp. adjusted ROE improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to Devon 6,015 2,813 (2,680) (355) 3,064
Total assets 23,721 21,025 9,912 13,717 19,566
Profitability Ratio
ROA1 25.36% 13.38% -27.04% -2.59% 15.66%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss)2 7,200 2,850 (2,725) (1,269) 892
Adjusted total assets3 23,730 21,025 9,907 13,725 19,912
Profitability Ratio
Adjusted ROA4 30.34% 13.56% -27.51% -9.25% 4.48%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
ROA = 100 × Net earnings (loss) attributable to Devon ÷ Total assets
= 100 × 6,015 ÷ 23,721 = 25.36%

2 Adjusted net earnings (loss). See details »

3 Adjusted total assets. See details »

4 2022 Calculation
Adjusted ROA = 100 × Adjusted net earnings (loss) ÷ Adjusted total assets
= 100 × 7,200 ÷ 23,730 = 30.34%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Devon Energy Corp. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.