Devon Energy Corp (DVN) financial statements: income statement, balance sheet and cash flow
Devon Energy Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Devon Energy Corp reported revenue of $17.2B (+7.8% year on year) and net income of $2.7B (-8.9% year on year).
Income statement
Devon Energy Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Oil, gas and NGL sales
$16.8B
$15.9B
$15.1B
$19.8B
Oil, gas and NGL derivatives
$402.0M
$21.0M
$118.0M
($658.0M)
Total revenues
$17.2B
$15.9B
$15.3B
$19.2B
Production expenses
$3.6B
$3.2B
$2.9B
$2.8B
Exploration expenses
$43.0M
$28.0M
$20.0M
$29.0M
Marketing and midstream expenses
$5.6B
$4.8B
$4.4B
$5.8B
Depreciation, depletion and amortization
$3.6B
$3.3B
$2.6B
$2.2B
Asset impairment
$254.0M
—
—
$0
Asset dispositions
($343.0M)
$11.0M
($30.0M)
($44.0M)
General and administrative expenses
$492.0M
$500.0M
$408.0M
$395.0M
Financing costs, net
$455.0M
$363.0M
$308.0M
$309.0M
Other, net
$24.0M
$96.0M
$38.0M
($95.0M)
Total expenses
$13.7B
$12.2B
$10.6B
$11.4B
Earnings before income taxes
$3.5B
$3.7B
$4.6B
$7.8B
Income tax expense
$785.0M
$770.0M
$841.0M
$1.7B
Net earnings attributable to noncontrolling interests
$39.0M
$51.0M
$35.0M
$22.0M
Net earnings attributable to Devon
$2.6B
$2.9B
$3.7B
$6.0B
Basic net earnings per share
$4.18
$4.58
$5.86
$9.15
Diluted net earnings per share
$4.17
$4.56
$5.84
$9.12
Net earnings
$2.7B
$2.9B
$3.8B
$6.0B
Pension and postretirement plans
$0
$2.0M
($8.0M)
$16.0M
Other comprehensive earnings (loss), net of tax
$0
$2.0M
—
—
Comprehensive earnings:
$2.7B
$2.9B
$3.8B
$6.1B
Comprehensive earnings attributable to noncontrolling interests
$39.0M
$51.0M
$35.0M
$22.0M
Comprehensive earnings attributable to Devon
$2.6B
$2.9B
$3.7B
$6.0B
Devon Energy Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Oil, gas and NGL sales
$7.0B
$4.5B
$4.3B
$4.0B
Oil, gas and NGL derivatives
$414.0M
($701.0M)
$80.0M
$236.0M
Total revenues
$7.4B
$3.8B
$4.3B
$4.3B
Production expenses
$1.4B
$894.0M
$895.0M
$899.0M
Exploration expenses
$16.0M
$25.0M
$8.0M
$20.0M
Marketing and midstream expenses
$1.9B
$1.5B
$1.5B
$1.4B
Depreciation, depletion and amortization
$1.4B
$904.0M
$879.0M
$914.0M
Asset impairments
$0
$0
$0
$0
Asset dispositions
($25.0M)
$1.0M
($37.0M)
($307.0M)
General and administrative expenses
$175.0M
$125.0M
$114.0M
$113.0M
Financing costs, net
$125.0M
$109.0M
$109.0M
$116.0M
Restructuring and transaction costs
$246.0M
$19.0M
—
—
Other, net
($187.0M)
$17.0M
($2.0M)
$11.0M
Total expenses
$5.0B
$3.6B
$3.4B
$3.1B
Earnings before income taxes
$2.4B
$166.0M
$912.0M
$1.2B
Income tax expense
$473.0M
$46.0M
$219.0M
$244.0M
Net earnings attributable to noncontrolling interests
$0
$0
$6.0M
$18.0M
Net earnings attributable to Devon
$1.9B
$120.0M
$687.0M
$899.0M
Basic net earnings per share
$2.04
$0.19
$1.09
$1.42
Diluted net earnings per share
$2.03
$0.19
$1.09
$1.41
Net earnings
$1.9B
$120.0M
$693.0M
$917.0M
Pension and postretirement plans
$1.0M
$1.0M
$1.0M
$1.0M
Other comprehensive earnings (loss), net of tax
$1.0M
$1.0M
$1.0M
$1.0M
Comprehensive earnings:
$1.9B
$121.0M
$694.0M
$918.0M
Comprehensive earnings attributable to noncontrolling interests
$0
$0
$6.0M
$18.0M
Comprehensive earnings attributable to Devon
$1.9B
$121.0M
$688.0M
$900.0M
Balance sheet
Devon Energy Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash, cash equivalents and restricted cash
$1.4B
$846.0M
$875.0M
$1.5B
Accounts receivable
$1.8B
$2.0B
$1.6B
$1.8B
Inventory
$336.0M
$294.0M
$249.0M
$201.0M
Other current assets
$444.0M
$315.0M
$460.0M
$469.0M
Total current assets
$4.0B
$3.4B
$3.2B
$3.9B
Oil and gas property and equipment, based on successful efforts accounting, net
$23.7B
$23.2B
$17.8B
$16.6B
Other property and equipment, net
$1.7B
$1.8B
$1.5B
$1.5B
Property and equipment, net
$25.4B
$25.0B
$19.3B
$18.1B
Goodwill
$753.0M
$753.0M
$753.0M
$753.0M
Right-of-use assets
$299.0M
$303.0M
$267.0M
$224.0M
Investments
$727.0M
$727.0M
$666.0M
$440.0M
Other long-term assets
$395.0M
$268.0M
$319.0M
$307.0M
Total assets
$31.6B
$30.5B
$24.5B
$23.7B
Accounts payable
$790.0M
$806.0M
$760.0M
$859.0M
Revenues and royalties payable
$1.5B
$1.4B
$1.2B
$1.5B
Short-term debt
$998.0M
$485.0M
$483.0M
$251.0M
Other current liabilities
$807.0M
$586.0M
$484.0M
$489.0M
Total current liabilities
$4.1B
$3.3B
$2.9B
$3.1B
Long-term debt
$7.4B
$8.4B
$5.7B
$6.2B
Lease liabilities
$197.0M
$320.0M
$295.0M
$257.0M
Asset retirement obligations
$863.0M
$770.0M
$643.0M
$511.0M
Other long-term liabilities
$907.0M
$840.0M
$876.0M
$900.0M
Deferred income taxes
$2.6B
$2.1B
$1.8B
$1.5B
Common stock, $0.10 par value. Authorized 1.0 billion shares; issued [629] million and 651 million shares in 2025 and 2024, respectively
62.0M
65.0M
64.0M
65.0M
Additional paid-in capital
$5.4B
$6.4B
$5.9B
$6.9B
Retained earnings
$10.2B
$8.2B
$6.2B
$4.3B
Accumulated other comprehensive loss
($122.0M)
($122.0M)
($124.0M)
($116.0M)
Total stockholders’ equity attributable to Devon
$15.5B
$14.5B
$12.1B
$11.2B
Noncontrolling interests
$0
$208.0M
$156.0M
$129.0M
Total equity
$15.5B
$14.7B
$12.2B
$11.3B
Total liabilities and equity
$31.6B
$30.5B
$24.5B
$23.7B
Devon Energy Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash, cash equivalents and restricted cash
$1.0B
$1.8B
$1.3B
$1.8B
Accounts receivable
$3.2B
$2.3B
$1.8B
$1.9B
Inventory
$356.0M
$319.0M
$361.0M
$327.0M
Other current assets
$522.0M
$378.0M
$393.0M
$384.0M
Total current assets
$5.0B
$4.8B
$3.9B
$4.3B
Oil and gas property and equipment, based on successful efforts accounting, net
$60.9B
$23.9B
$23.6B
$23.4B
Other property and equipment, net
$2.2B
$1.7B
$1.7B
$1.7B
Total property and equipment, net
$63.1B
$25.6B
$25.3B
$25.1B
Goodwill
$753.0M
$753.0M
$753.0M
$753.0M
Right-of-use assets
$509.0M
$312.0M
$247.0M
$185.0M
Investments
$992.0M
$715.0M
$679.0M
$640.0M
Other long-term assets
$492.0M
$403.0M
$386.0M
$374.0M
Total assets
$70.9B
$32.5B
$31.2B
$31.4B
Accounts payable
$1.6B
$975.0M
$934.0M
$885.0M
Revenues and royalties payable
$2.5B
$1.7B
$1.5B
$1.4B
Short-term debt
$1.5B
$999.0M
$998.0M
$485.0M
Income taxes payable
$414.0M
—
—
$190.0M
Other current liabilities
$1.1B
$1.1B
$646.0M
$537.0M
Total current liabilities
$7.0B
$4.7B
$4.0B
$3.5B
Long-term debt
$9.9B
$7.4B
$7.4B
$8.4B
Lease liabilities
$356.0M
$206.0M
$158.0M
$113.0M
Asset retirement obligations
$1.2B
$986.0M
$850.0M
$839.0M
Other long-term liabilities
$1.0B
$940.0M
$962.0M
$1.0B
Deferred income taxes
$9.6B
$2.9B
$2.5B
$2.2B
Common stock, $0.10 par value. Authorized 2.0 billion shares; issued 1,150 million and 622 million shares in 2026 and 2025, respectively
115.0M
62.0M
63.0M
64.0M
Additional paid-in capital
$30.0B
$5.3B
$5.6B
$5.9B
Retained earnings
$11.7B
$10.2B
$9.8B
$9.3B
Accumulated other comprehensive loss
($120.0M)
($121.0M)
($119.0M)
($120.0M)
Treasury stock, at cost, 0.1 million shares in 2026
-5.0M
—
—
—
Total stockholders' equity
$41.7B
$15.4B
$15.3B
$15.1B
Total liabilities and equity
$70.9B
$32.5B
$31.2B
$31.4B
Cash flow statement
Devon Energy Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net earnings
$2.7B
$2.9B
$3.8B
$6.0B
Depreciation, depletion and amortization
$3.6B
$3.3B
$2.6B
$2.2B
Asset impairments
$254.0M
—
—
$0
Leasehold impairments
$11.0M
$5.0M
$5.0M
$12.0M
Accretion (amortization) of liabilities
$16.0M
$8.0M
($16.0M)
($31.0M)
Total gains on commodity derivatives
($402.0M)
($21.0M)
($118.0M)
$658.0M
Cash settlements on commodity derivatives
$232.0M
$197.0M
$47.0M
($1.4B)
{Gains} losses on asset dispositions
($343.0M)
$11.0M
($30.0M)
($44.0M)
Deferred income tax expense
$484.0M
$311.0M
$376.0M
$1.2B
Share-based compensation
$99.0M
$99.0M
$93.0M
$88.0M
Other
($67.0M)
$10.0M
($5.0M)
($10.0M)
Changes in assets and liabilities, net
$151.0M
($217.0M)
($144.0M)
($226.0M)
Net cash from operating activities
$6.7B
$6.6B
$6.5B
—
Capital expenditures
($3.6B)
($3.6B)
($3.9B)
($2.5B)
Acquisitions of property and equipment
($322.0M)
($3.8B)
($64.0M)
($2.6B)
Divestitures of property, equipment and investments
$545.0M
$24.0M
$26.0M
$39.0M
Grayson Mill acquired cash
$0
$147.0M
$0
$0
Distributions from investments
$38.0M
$68.0M
$32.0M
$39.0M
Contributions to investments and other
($62.0M)
($118.0M)
($53.0M)
—
Net cash from investing activities
($3.4B)
($7.3B)
($3.9B)
—
Borrowings of long-term debt, net of issuance costs
$0
$3.2B
—
—
Repayments of long-term debt
($485.0M)
($472.0M)
($242.0M)
$0
Repurchases of common stock
($1.1B)
($1.1B)
($979.0M)
($718.0M)
Dividends paid on common stock
($619.0M)
($937.0M)
($1.9B)
($3.4B)
Contributions from noncontrolling interests
$14.0M
$52.0M
$37.0M
$0
Distributions to noncontrolling interests
($23.0M)
($51.0M)
($45.0M)
($30.0M)
Acquisition of noncontrolling interests
($260.0M)
—
$0
$0
Repayment of finance lease
($282.0M)
—
$0
$0
Shares exchanged for tax withholdings and other
-25.0M
-48.0M
-97.0M
-86.0M
Net cash from financing activities
($2.7B)
$706.0M
($3.2B)
—
Effect of exchange rate changes on cash
$0
($3.0M)
$3.0M
($11.0M)
Net change in cash, cash equivalents and restricted cash
$588.0M
($29.0M)
($579.0M)
($817.0M)
Cash, cash equivalents and restricted cash at beginning of period
$846.0M
$875.0M
$1.5B
$2.3B
Cash, cash equivalents and restricted cash at end of period
$1.4B
$846.0M
$875.0M
$1.5B
Cash and cash equivalents
$1.4B
$811.0M
$853.0M
$1.3B
Restricted cash
$50.0M
$35.0M
$22.0M
$140.0M
Total cash, cash equivalents and restricted cash
$1.4B
$846.0M
$875.0M
$1.5B
Devon Energy Corp cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net earnings
$2.0B
$120.0M
$2.1B
$1.4B
Depreciation, depletion and amortization
$2.3B
$904.0M
$2.7B
$1.8B
Asset impairments
$0
$0
$254.0M
$254.0M
Leasehold impairments
$12.0M
$3.0M
$13.0M
$12.0M
Accretion of liabilities
$11.0M
$4.0M
$13.0M
$9.0M
Total (gains) losses on commodity derivatives
$287.0M
$701.0M
($218.0M)
($138.0M)
Cash settlements on commodity derivatives
($173.0M)
($57.0M)
$107.0M
$57.0M
Gains on asset dispositions
($24.0M)
$1.0M
($342.0M)
($305.0M)
Deferred income tax expense
$329.0M
$234.0M
$322.0M
$59.0M
Share-based compensation
$93.0M
$22.0M
$77.0M
$53.0M
Other
($182.0M)
$22.0M
($62.0M)
($17.0M)
Changes in assets and liabilities, net
$625.0M
($299.0M)
$189.0M
$251.0M
Net cash from operating activities
$5.3B
$1.7B
$5.2B
$3.5B
Cash acquired in Merger
$581.0M
—
—
—
Capital expenditures
($2.2B)
($839.0M)
($2.8B)
($1.9B)
Acquisitions of property and equipment
($2.9B)
($190.0M)
($221.0M)
($24.0M)
Divestitures of property, equipment and investments
$90.0M
$2.0M
$543.0M
$505.0M
Distributions from investments
$22.0M
$9.0M
$27.0M
$20.0M
Contributions to investments and other
($12.0M)
($2.0M)
($12.0M)
($10.0M)
Net cash from investing activities
($4.4B)
($1.0B)
($2.4B)
($1.4B)
Repayments of long-term debt
($500.0M)
—
($485.0M)
—
Repurchases of common stock
($266.0M)
($69.0M)
($800.0M)
($550.0M)
Dividends paid on common stock
($521.0M)
($155.0M)
($470.0M)
($319.0M)
Contributions from noncontrolling interests
$0
$0
$14.0M
$14.0M
Distributions to noncontrolling interests
$0
$0
($23.0M)
($23.0M)
Repayment of finance lease
($5.0M)
($3.0M)
($274.0M)
($274.0M)
Shares exchanged for tax withholdings and other
-71.0M
-27.0M
-25.0M
-24.0M
Net cash from financing activities
($1.4B)
($254.0M)
($2.3B)
($1.2B)
Effect of exchange rate changes on cash
$4.0M
—
$1.0M
$1.0M
Net change in cash, cash equivalents and restricted cash
($425.0M)
$381.0M
$432.0M
$913.0M
Cash, cash equivalents and restricted cash at beginning of period
$1.4B
$1.4B
$846.0M
$846.0M
Cash, cash equivalents and restricted cash at end of period