Devon Energy (DVN) FY2018 results: revenue $8.9 billion, up 36.8% on the year
Devon Energy Corp. (DVN) reported revenue of $8.9 billion for fiscal 2018, the year ended 31 December 2018, up 36.8% on the year before. Net income was $3.1 billion, up 241.2%, and diluted earnings per share $6.10. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$8.9 billion
+36.8% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$3.1 billion
+241.2% on the year
FY2011FY2018
Diluted EPS
$6.10
+258.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
8,896
6,501
6,753
+36.8%
Cost of revenue
4,321
3,559
2,821
+21.4%
Gross profit
4,575
2,942
3,932
+55.5%
Gross margin
51.4%
45.3%
58.2%
Operating income
n/a
n/a
-2,895
Operating margin
n/a
n/a
-42.9%
Interest expense
287
337
488
-14.8%
Pre-tax income
944
40.0
-433
+2,260.0%
Income tax
230
7.0
141
+3,185.7%
Effective tax rate
24.4%
17.5%
n/a
Net income
3,064
898
-1,056
+241.2%
Net margin
34.4%
13.8%
-15.6%
Diluted EPS
$6.10
$1.70
-$2.09
+258.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,704
2,909
1,500
-7.0%
Capital expenditure
55.0
44.0
849
+25.0%
Free cash flow
2,649
2,865
651
-7.5%
Free cash flow margin
29.8%
44.1%
9.6%
Cash from investing
n/a
-2,210
-594
Cash from financing
n/a
9.0
-1,196
Depreciation and amortisation
1,228
1,008
1,592
+21.8%
Share-based compensation
137
126
203
+8.7%
Buybacks
2,956
n/a
n/a
Dividends paid
149
127
221
+17.3%
Diluted shares, weighted
497m
523m
507m
-5.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
9,186
9,254
8,274
-0.7%
Non-controlling interest
n/a
4,850
4,448
Debt
4,454
6,864
10,154
-35.1%
Other liabilities
5,926
9,273
5,799
-36.1%
Total liabilities and equity
19,566
30,241
28,675
-35.3%
Fixed assets
8,462
14,584
14,276
-42.0%
Goodwill
753
841
2,383
-10.5%
Intangible assets
n/a
1,497
1,624
Cash and equivalents
2,414
2,642
1,947
-8.6%
Receivables
812
989
1,356
-17.9%
Other assets
7,125
9,688
7,089
-26.5%
Total assets
19,566
30,241
28,675
-35.3%
10-K for the year ended 31 December 2018, filed 20 February 2019: the filing.