Devon Energy (DVN) Stock Analysis

November 11, 2026

This is a peer-relative look at Devon Energy (DVN): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Energy peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Devon Energy (DVN)
Profile Item	DVN
Name	Devon Energy Corporation
Country/Region	United States
GICS Sector	Energy
GICS Industry Group	Energy
GICS Industry	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Oil & Gas Exploration & Production
Market Capitalization	48.11 billion USD
Currency	USD
Exchange	NYSE
Listing Date	July 22, 1985
Security Type	Common Stock

Price Performance

Cumulative Growth

DVN

GSPC

Devon Energy (DVN) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Devon Energy (DVN) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Devon Energy (DVN) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Devon Energy (DVN) metric values compared with Energy industry-group medians
Metric	Current stock: DVN	Industry group median
Total Return (1Y)	28.98%	32.08%
Total Return (3Y, Annualized)	1.94%	14.39%
Total Return (5Y, Annualized)	4.07%	15.43%

Risk Profile

Drawdown History

DVN

GSPC

Devon Energy (DVN) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Devon Energy (DVN) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Devon Energy (DVN) metric values compared with Energy industry-group medians
Metric	Current stock: DVN	Industry group median
Volatility (1Y, Annualized)	35.86%	41.29%
Beta (5Y)	0.51	0.66
Max Drawdown (5Y)	-60.83%	-52.09%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. DVN is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Devon Energy (DVN) metric values compared with Energy industry-group medians
Metric	Current stock: DVN	Industry group median
Sharpe Ratio (1Y)	0.69	0.67
Sortino Ratio (1Y)	0.99	1.01

Profitability

ROE (TTM)

Devon Energy (DVN) posts ROE of 12.56%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

DVN

Energy industry group

12.56%

Group distribution

Max: 53.85%
Q3: 24.79%
Median: 12.85%
DVN: 12.56%
Q1: 2.03%
Min: -29.09%

Largest peers

PBR: 30.27%
TTE: 17.83%
COP: 17.66%
SHEL: 17.43%
XOM: 15.53%
CVX: 13.85%
DVN: 12.56%

Where Devon Energy (DVN) stands on ROE within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Devon Energy (DVN) keeps 16.29% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

DVN

Energy industry group

16.29%

Group distribution

Max: 56.92%
Q3: 22.92%
DVN: 16.29%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

Largest peers

PBR: 24.32%
COP: 16.76%
DVN: 16.29%
CVX: 11.92%
XOM: 10.46%
TTE: 10.46%
SHEL: 10.18%

Where Devon Energy (DVN) stands on net margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Devon Energy (DVN) turns 19.84% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

DVN

Energy industry group

19.84%

Group distribution

Max: 71.31%
Q3: 33.75%
DVN: 19.84%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

Largest peers

PBR: 44.68%
COP: 30.05%
TTE: 24.51%
DVN: 19.84%
SHEL: 18.76%
CVX: 17.89%
XOM: 16.98%

Where Devon Energy (DVN) stands on operating margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Devon Energy (DVN) metric values compared with Energy industry-group medians
Metric	Current stock: DVN	Industry group median
ROE (TTM)	12.56%	12.85%
ROA (TTM)	6.52%	5.49%
Net Margin (TTM)	16.29%	10.10%
Operating Margin (TTM)	19.84%	18.73%
Gross Margin (TTM)	53.48%	44.52%

Growth

Revenue Growth

Devon Energy (DVN) grew revenue 7.83%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Devon Energy (DVN): Revenue Growth across different time periods, set against Energy industry-group medians.

EPS Growth

Devon Energy (DVN) grew earnings per share -8.55%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Devon Energy (DVN): EPS Growth across different time periods, set against Energy industry-group medians.

Growth Metrics

Devon Energy (DVN) metric values compared with Energy industry-group medians
Metric	Current stock: DVN	Industry group median
Revenue Growth (YoY)	7.83%	0.51%
Revenue Growth (3Y CAGR)	-3.57%	0.37%
EPS Growth (YoY)	-8.55%	-11.75%
EPS Growth (3Y CAGR)	-22.96%	-12.07%

Financial Strength

Current Ratio (MRQ)

Devon Energy (DVN) has current ratio of 0.70, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

DVN

Energy industry group

0.70

Group distribution

Max: 3.64
Q3: 2.21
Median: 1.41
Q1: 0.88
DVN: 0.70
Min: 0.24

Largest peers

COP: 1.52
SHEL: 1.38
CVX: 1.34
XOM: 1.19
TTE: 1.11
PBR: 0.85
DVN: 0.70

Where Devon Energy (DVN) stands on current ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Devon Energy (DVN) has debt-to-equity ratio of 0.26, in the lower-leverage quartile for its industry. Borrowing is modest relative to equity compared with most peers, which can leave more flexibility through a cycle.

DVN

Energy industry group

0.26

Group distribution

Max: 1.75
Q3: 0.93
Median: 0.54
Q1: 0.30
DVN: 0.26
Min: 0.00

Largest peers

PBR: 0.76
TTE: 0.46
SHEL: 0.38
COP: 0.35
DVN: 0.26
CVX: 0.17
XOM: 0.13

Where Devon Energy (DVN) stands on debt-to-equity ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Devon Energy (DVN) metric values compared with Energy industry-group medians
Metric	Current stock: DVN	Industry group median
Current Ratio (MRQ)	0.70	1.41
Debt / Equity (MRQ)	0.26	0.54
Net Debt / EBITDA	1.05	1.13

Dividends

Dividend Yield (TTM)

Devon Energy (DVN) has dividend yield of 2.61%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

DVN

Energy industry group

2.61%

Group distribution

Max: 8.57%
Q3: 3.58%
DVN: 2.61%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

Largest peers

PBR: 19.51%
TTE: 4.58%
CVX: 3.31%
DVN: 2.61%
XOM: 2.49%
COP: 2.48%
SHEL: 1.54%

Where Devon Energy (DVN) stands on dividend yield within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Devon Energy (DVN) has payout ratio of 26.29%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

DVN

Energy industry group

26.29%

Group distribution

Max: 133.24%
Q3: 53.31%
DVN: 26.29%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

Largest peers

CVX: 51.76%
XOM: 42.39%
TTE: 39.93%
COP: 35.41%
PBR: 28.93%
DVN: 26.29%
SHEL: 26.24%

Where Devon Energy (DVN) stands on payout ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Devon Energy (DVN) metric values compared with Energy industry-group medians
Metric	Current stock: DVN	Industry group median
Dividend Yield (TTM)	2.61%	1.71%
Dividend Payout Ratio (TTM)	26.29%	25.24%

Valuation

P/E Ratio (TTM)

Devon Energy (DVN) trades at P/E ratio of 9.91, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

DVN

Energy industry group

9.91

Group distribution

Max: 39.54
Q3: 21.72
Median: 12.19
DVN: 9.91
Q1: 7.71
Min: 2.99

Largest peers

XOM: 17.06
CVX: 15.61
COP: 14.36
DVN: 9.91
TTE: 8.76
SHEL: 8.60
PBR: 4.68

Where Devon Energy (DVN) stands on P/E ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Devon Energy (DVN) trades at 2.18 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

DVN

Energy industry group

2.18

Group distribution

Max: 5.40
Q3: 2.85
DVN: 2.18
Median: 1.69
Q1: 0.88
Min: 0.00

Largest peers

COP: 2.34
DVN: 2.18
CVX: 1.83
XOM: 1.74
TTE: 0.90
SHEL: 0.87
PBR: 0.22

Where Devon Energy (DVN) stands on P/S ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Devon Energy (DVN) trades at 1.15 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

DVN

Energy industry group

1.15

Group distribution

Max: 4.21
Q3: 2.38
Median: 1.51
DVN: 1.15
Q1: 1.08
Min: 0.01

Largest peers

XOM: 2.55
COP: 2.44
CVX: 2.13
TTE: 1.46
SHEL: 1.43
PBR: 1.25
DVN: 1.15

Where Devon Energy (DVN) stands on P/B ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Devon Energy (DVN) metric values compared with Energy industry-group medians
Metric	Current stock: DVN	Industry group median
P/E Ratio (TTM)	9.91	12.19
P/S Ratio (TTM)	2.18	1.69
P/B Ratio (MRQ)	1.15	1.51
Free Cash Flow Yield (TTM)	3.11%	5.94%