Devon Energy (DVN) FY2014 results: revenue $20.6 billion, up 98.5% on the year
Devon Energy Corp. (DVN) reported revenue of $20.6 billion for fiscal 2014, the year ended 31 December 2014, up 98.5% on the year before. Net income was $1.6 billion, and diluted earnings per share $3.91. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$20.6 billion
+98.5% on the year
FY2007FY2014
Operating margin
22.8%
5.5% a year earlier
FY2007FY2014
Net income
$1.6 billion
FY2007FY2014
Diluted EPS
$3.91
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
20,638
10,397
9,502
+98.5%
Operating income
4,698
567
74.0
+728.6%
Operating margin
22.8%
5.5%
0.8%
Interest expense
536
437
406
+22.7%
Pre-tax income
4,059
149
-317
+2,624.2%
Income tax
2,368
169
-132
+1,301.2%
Effective tax rate
58.3%
113.4%
n/a
Net income
1,607
-20.0
-206
Net margin
7.8%
-0.2%
-2.2%
Diluted EPS
$3.91
-$0.06
-$0.52
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
5,981
5,436
4,956
+10.0%
Capital expenditure
6,462
256
8,225
+2,424.2%
Free cash flow
-481
5,180
-3,269
Free cash flow margin
-2.3%
49.8%
-34.4%
Cash from investing
-8,184
-3,999
-7,526
Cash from financing
n/a
20.0
1,629
Depreciation and amortisation
3,319
2,780
2,811
+19.4%
Share-based compensation
163
157
179
+3.8%
Dividends paid
386
348
324
+10.9%
Diluted shares, weighted
407m
402m
400m
+1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
21,539
20,499
21,278
+5.1%
Non-controlling interest
4,802
n/a
n/a
Debt
11,262
12,022
11,644
-6.3%
Other liabilities
13,034
10,356
10,404
+25.9%
Total liabilities and equity
50,637
42,877
43,326
+18.1%
Fixed assets
36,296
28,447
27,316
+27.6%
Goodwill
6,303
5,858
6,079
+7.6%
Intangible assets
533
n/a
n/a
Investments
n/a
n/a
2,343
Cash and equivalents
1,480
6,066
4,637
-75.6%
Receivables
1,959
1,520
1,245
+28.9%
Inventory
n/a
n/a
110
Other assets
4,066
986
1,596
+312.4%
Total assets
50,637
42,877
43,326
+18.1%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.