Devon Energy (DVN) FY2016 results: revenue $6.8 billion, down 48.6% on the year
Devon Energy Corp. (DVN) reported revenue of $6.8 billion for fiscal 2016, the year ended 31 December 2016, down 48.6% on the year before. Net income was -$1.1 billion, and diluted earnings per share $-2.09. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2017.
Revenue
$6.8 billion
-48.6% on the year
FY2009FY2016
Operating margin
-42.9%
-157.7% a year earlier
FY2009FY2016
Net income
-$1.1 billion
FY2009FY2016
Diluted EPS
-$2.09
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
6,753
13,145
20,638
-48.6%
Cost of revenue
2,821
n/a
n/a
Gross profit
3,932
n/a
n/a
Gross margin
58.2%
n/a
n/a
Operating income
-2,895
-20,727
4,698
Operating margin
-42.9%
-157.7%
22.8%
Interest expense
488
565
536
-13.6%
Pre-tax income
-433
-19,858
4,059
Income tax
141
-6,213
2,368
Effective tax rate
n/a
n/a
58.3%
Net income
-1,056
-12,896
1,607
Net margin
-15.6%
-98.1%
7.8%
Diluted EPS
-$2.09
-$31.72
$3.91
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,500
4,898
5,981
-69.4%
Capital expenditure
849
1,107
6,462
-23.3%
Free cash flow
651
3,791
-481
-82.8%
Free cash flow margin
9.6%
28.8%
-2.3%
Cash from investing
-594
-5,803
-8,184
Cash from financing
-1,196
1,812
n/a
Depreciation and amortisation
1,592
4,022
3,319
-60.4%
Share-based compensation
203
244
163
-16.8%
Dividends paid
221
396
386
-44.2%
Diluted shares, weighted
507m
407m
407m
+24.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
8,274
7,049
21,539
+17.4%
Non-controlling interest
4,448
3,940
4,802
+12.9%
Debt
10,154
13,032
11,262
-22.1%
Other liabilities
5,799
5,652
13,034
+2.6%
Total liabilities and equity
28,675
29,673
50,637
-3.4%
Fixed assets
14,276
20,986
36,296
-32.0%
Goodwill
2,383
3,337
6,303
-28.6%
Intangible assets
1,624
690
533
+135.4%
Cash and equivalents
1,947
2,310
1,480
-15.7%
Receivables
1,356
1,105
1,959
+22.7%
Other assets
7,089
1,245
4,066
+469.4%
Total assets
28,675
29,673
50,637
-3.4%
10-K for the year ended 31 December 2016, filed 15 February 2017: the filing.