Devon Energy (DVN) FY2024 results: revenue $15.9 billion, up 4.5% on the year
Devon Energy Corp. (DVN) reported revenue of $15.9 billion for fiscal 2024, the year ended 31 December 2024, up 4.5% on the year before. Net income was $2.9 billion, down 22.7%, and diluted earnings per share $4.56. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2025.
Revenue
$15.9 billion
+4.5% on the year
FY2017FY2024
Operating margin
18.5%
24.8% a year earlier
FY2017FY2024
Net income
$2.9 billion
-22.7% on the year
FY2017FY2024
Diluted EPS
$4.56
-21.9% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
6,600
6,544
8,530
+0.9%
Capital expenditure
3,645
3,883
2,542
-6.1%
Free cash flow
2,955
2,661
5,988
+11.0%
Free cash flow margin
18.5%
17.4%
31.2%
Cash from investing
-7,332
-3,942
-5,123
Cash from financing
706
-3,184
-4,213
Depreciation and amortisation
3,255
2,554
2,223
+27.4%
Share-based compensation
99.0
93.0
88.0
+6.5%
Buybacks
1,057
979
718
+8.0%
Dividends paid
937
1,858
3,379
-49.6%
Diluted shares, weighted
634m
642m
653m
-1.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
14,496
12,061
11,167
+20.2%
Non-controlling interest
208
156
129
+33.3%
Short-term borrowings
485
483
251
+0.4%
Debt
8,883
6,155
6,440
+44.3%
Operating lease liabilities
27.0
9.0
8.0
+200.0%
Finance lease liabilities
293
286
249
+2.4%
Other liabilities
6,097
5,340
5,027
+14.2%
Total liabilities and equity
30,489
24,490
23,271
+24.5%
Fixed assets
25,011
19,328
18,106
+29.4%
Goodwill
753
753
753
0.0%
Cash and equivalents
811
853
1,314
-4.9%
Receivables
1,972
1,573
1,767
+25.4%
Inventory
294
249
201
+18.1%
Other assets
1,648
1,734
1,130
-5.0%
Total assets
30,489
24,490
23,271
+24.5%
10-K for the year ended 31 December 2024, filed 19 February 2025: the filing.