Devon Energy (DVN) FY2017 results: revenue $6.5 billion, down 3.7% on the year
Devon Energy Corp. (DVN) reported revenue of $6.5 billion for fiscal 2017, the year ended 31 December 2017, down 3.7% on the year before. Net income was $898 million, and diluted earnings per share $1.70. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2018.
Revenue
$6.5 billion
-3.7% on the year
FY2010FY2017
Operating margin
n/a
-42.9% a year earlier
FY2010FY2017
Net income
$898 million
FY2010FY2017
Diluted EPS
$1.70
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
6,501
6,753
13,145
-3.7%
Cost of revenue
3,559
2,821
n/a
+26.2%
Gross profit
2,942
3,932
n/a
-25.2%
Gross margin
45.3%
58.2%
n/a
Operating income
n/a
-2,895
-20,727
Operating margin
n/a
-42.9%
-157.7%
Interest expense
337
488
565
-30.9%
Pre-tax income
40.0
-433
-19,858
Income tax
7.0
141
-6,213
-95.0%
Effective tax rate
17.5%
n/a
n/a
Net income
898
-1,056
-12,896
Net margin
13.8%
-15.6%
-98.1%
Diluted EPS
$1.70
-$2.09
-$31.72
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,909
1,500
4,898
+93.9%
Capital expenditure
44.0
849
1,107
-94.8%
Free cash flow
2,865
651
3,791
+340.1%
Free cash flow margin
44.1%
9.6%
28.8%
Cash from investing
-2,210
-594
-5,803
Cash from financing
9.0
-1,196
1,812
Depreciation and amortisation
1,008
1,592
4,022
-36.7%
Share-based compensation
126
203
244
-37.9%
Dividends paid
127
221
396
-42.5%
Diluted shares, weighted
523m
507m
407m
+3.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
9,254
8,274
7,049
+11.8%
Non-controlling interest
4,850
4,448
3,940
+9.0%
Debt
6,864
10,154
13,032
-32.4%
Other liabilities
9,273
5,799
5,652
+59.9%
Total liabilities and equity
30,241
28,675
29,673
+5.5%
Fixed assets
14,584
14,276
20,986
+2.2%
Goodwill
841
2,383
3,337
-64.7%
Intangible assets
1,497
1,624
690
-7.8%
Cash and equivalents
2,642
1,947
2,310
+35.7%
Receivables
989
1,356
1,105
-27.1%
Other assets
9,688
7,089
1,245
+36.7%
Total assets
30,241
28,675
29,673
+5.5%
10-K for the year ended 31 December 2017, filed 21 February 2018: the filing.