Devon Energy (DVN) FY2020 results: revenue $4.8 billion, down 22.4% on the year
Devon Energy Corp. (DVN) reported revenue of $4.8 billion for fiscal 2020, the year ended 31 December 2020, down 22.4% on the year before. Net income was -$2.7 billion, and diluted earnings per share $-7.12. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$4.8 billion
-22.4% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
-$2.7 billion
FY2013FY2020
Diluted EPS
-$7.12
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,828
6,220
8,896
-22.4%
Cost of revenue
n/a
2,812
4,321
Gross profit
n/a
3,408
4,575
Gross margin
n/a
54.8%
51.4%
Interest expense
259
260
287
-0.4%
Pre-tax income
-3,090
-109
944
Income tax
-547
-30.0
230
Effective tax rate
n/a
n/a
24.4%
Net income
-2,680
-355
3,064
Net margin
-55.5%
-5.7%
34.4%
Diluted EPS
-$7.12
-$0.89
$6.10
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,354
2,071
2,704
-34.6%
Capital expenditure
1,153
31.0
55.0
+3,619.4%
Free cash flow
201
2,040
2,649
-90.1%
Free cash flow margin
4.2%
32.8%
29.8%
Depreciation and amortisation
1,300
1,497
1,228
-13.2%
Share-based compensation
88.0
115
137
-23.5%
Buybacks
38.0
1,849
2,956
-97.9%
Dividends paid
257
140
149
+83.6%
Diluted shares, weighted
377m
401m
497m
-6.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,885
5,802
9,186
-50.3%
Non-controlling interest
134
118
n/a
+13.6%
Debt
4,298
4,294
4,454
+0.1%
Operating lease liabilities
2.0
4.0
n/a
-50.0%
Finance lease liabilities
244
240
n/a
+1.7%
Other liabilities
2,349
3,259
5,926
-27.9%
Total liabilities and equity
9,912
13,717
19,566
-27.7%
Fixed assets
5,393
8,593
8,462
-37.2%
Goodwill
753
753
753
0.0%
Cash and equivalents
2,047
1,464
2,414
+39.8%
Receivables
601
832
812
-27.8%
Other assets
1,118
2,075
7,125
-46.1%
Total assets
9,912
13,717
19,566
-27.7%
10-K for the year ended 31 December 2020, filed 17 February 2021: the filing.