Devon Energy (DVN) FY2011 results: revenue $11.5 billion, up 15.2% on the year
Devon Energy Corp. (DVN) reported revenue of $11.5 billion for fiscal 2011, the year ended 31 December 2011, up 15.2% on the year before. Net income was $4.7 billion, up 3.4%, and diluted earnings per share $11.25. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$11.5 billion
+15.2% on the year
FY2007FY2011
Operating margin
40.4%
35.9% a year earlier
FY2007FY2011
Net income
$4.7 billion
+3.4% on the year
FY2007FY2011
Diluted EPS
$11.25
+9.1% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
11,454
9,940
8,015
+15.2%
Operating income
4,632
3,568
-4,526
+29.8%
Operating margin
40.4%
35.9%
-56.5%
Interest expense
352
363
349
-3.0%
Pre-tax income
4,290
3,568
-4,526
+20.2%
Income tax
2,156
1,235
-1,773
+74.6%
Effective tax rate
50.3%
34.6%
n/a
Net income
4,704
4,550
-2,479
+3.4%
Net margin
41.1%
45.8%
-30.9%
Diluted EPS
$11.25
$10.31
-$5.58
+9.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
6,224
5,478
4,737
+13.6%
Capital expenditure
7,534
6,476
4,879
+16.3%
Free cash flow
-1,310
-998
-142
Free cash flow margin
-11.4%
-10.0%
-1.8%
Cash from investing
-5,646
-112
-5,354
Cash from financing
1,691
-3,104
1,201
Depreciation and amortisation
2,248
1,930
2,108
+16.5%
Share-based compensation
181
188
209
-3.7%
Buybacks
2,332
1,168
0.0
+99.7%
Dividends paid
278
281
284
-1.1%
Dividend per share
$0.67
$0.64
$0.64
+4.7%
Diluted shares, weighted
414m
n/a
n/a
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
21,430
19,253
15,570
+11.3%
Debt
9,780
5,630
5,847
+73.7%
Other liabilities
9,754
8,044
8,269
+21.3%
Total liabilities and equity
40,964
32,927
29,686
+24.4%
Fixed assets
24,774
19,652
18,767
+26.1%
Goodwill
6,013
6,080
5,930
-1.1%
Investments
1,503
145
n/a
+936.6%
Cash and equivalents
5,555
3,290
1,011
+68.8%
Receivables
1,379
1,202
1,208
+14.7%
Inventory
102
120
182
-15.0%
Other assets
1,638
2,438
2,588
-32.8%
Total assets
40,964
32,927
29,686
+24.4%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.