Devon Energy (DVN) FY2019 results: revenue $6.2 billion, down 30.1% on the year
Devon Energy Corp. (DVN) reported revenue of $6.2 billion for fiscal 2019, the year ended 31 December 2019, down 30.1% on the year before. Net income was -$355 million, and diluted earnings per share $-0.89. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$6.2 billion
-30.1% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
-$355 million
FY2012FY2019
Diluted EPS
-$0.89
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,220
8,896
6,501
-30.1%
Cost of revenue
2,812
4,321
3,559
-34.9%
Gross profit
3,408
4,575
2,942
-25.5%
Gross margin
54.8%
51.4%
45.3%
Interest expense
260
287
337
-9.4%
Pre-tax income
-109
944
40.0
Income tax
-30.0
230
7.0
Effective tax rate
n/a
24.4%
17.5%
Net income
-355
3,064
898
Net margin
-5.7%
34.4%
13.8%
Diluted EPS
-$0.89
$6.10
$1.70
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,071
2,704
2,909
-23.4%
Capital expenditure
31.0
55.0
44.0
-43.6%
Free cash flow
2,040
2,649
2,865
-23.0%
Free cash flow margin
32.8%
29.8%
44.1%
Cash from investing
n/a
n/a
-2,210
Cash from financing
n/a
n/a
9.0
Depreciation and amortisation
1,497
1,228
1,008
+21.9%
Share-based compensation
115
137
126
-16.1%
Buybacks
1,849
2,956
n/a
-37.4%
Dividends paid
140
149
127
-6.0%
Diluted shares, weighted
401m
497m
523m
-19.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,802
9,186
9,254
-36.8%
Non-controlling interest
118
n/a
4,850
Debt
4,294
4,454
6,864
-3.6%
Operating lease liabilities
4.0
n/a
n/a
Finance lease liabilities
240
n/a
n/a
Other liabilities
3,259
5,926
9,273
-45.0%
Total liabilities and equity
13,717
19,566
30,241
-29.9%
Fixed assets
8,593
8,462
14,584
+1.5%
Goodwill
753
753
841
0.0%
Intangible assets
n/a
n/a
1,497
Cash and equivalents
1,464
2,414
2,642
-39.4%
Receivables
832
812
989
+2.5%
Other assets
2,075
7,125
9,688
-70.9%
Total assets
13,717
19,566
30,241
-29.9%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.