Question 1

What is Devon Energy's P/E ratio?

Accepted Answer

Devon Energy (DVN) P/E ratio is 12.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Devon Energy?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Devon Energy specifically, the relevant sector benchmark is the current sector median of 17.9×.

Question 5

Is Devon Energy's P/E ratio high or low?

Accepted Answer

Devon Energy's P/E ratio of 12.1× is above its own 5-year average of 11.9× and below the sector median of 17.9×. That places the current reading at the 81th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Devon Energy's historical P/E ratio range?

Accepted Answer

In the available daily series, Devon Energy (DVN) P/E ratio has ranged from a low of 3.1× in 2019 to a high of 384.3× in 2017. The 5-year average is 11.9× and the 5-year median is 8.1×.

Question 7

What was Devon Energy's P/E ratio in 2025?

Accepted Answer

Devon Energy (DVN) P/E ratio at the end of 2025 was 8.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Devon Energy's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$22.75B	$2.64B	8.6×	+1.6×	Dec 31, 2025
2024	$20.39B	$2.89B	7.1×	-0.6×	Dec 31, 2024
2023	$28.77B	$3.75B	7.7×	+1.0×	Dec 31, 2023
2022	$40.17B	$6.01B	6.7×	-3.8×	Dec 31, 2022
2021	$29.56B	$2.81B	10.5×	—	Dec 31, 2021
2020	$6.06B	−$2.68B	—	—	Dec 31, 2020
2019	$9.95B	−$355.00M	—	—	Dec 31, 2019
2018	$10.35B	$3.06B	3.4×	-51.6×	Dec 31, 2018
2017	$21.73B	$395.00M	55.0×	—	Dec 31, 2017
2016	$23.93B	−$3.30B	—	—	Dec 31, 2016
2015	$13.19B	−$14.45B	—	—	Dec 31, 2015
2014	$25.03B	$1.61B	15.6×	—	Dec 31, 2014
2013	$25.12B	−$20.00M	—	—	Dec 31, 2013
2012	$21.08B	−$206.00M	—	—	Dec 31, 2012
2011	$24.61B	$4.70B	5.2×	-2.1×	Dec 31, 2011
2010	$33.21B	$4.55B	7.3×	—	Dec 31, 2010
2009	$32.85B	−$2.48B	—	—	Dec 31, 2009
2008	$28.65B	−$2.15B	—	—	Dec 31, 2008
2007	$39.56B	$3.61B	11.0×	+0.5×	Dec 31, 2007
2006	$29.78B	$2.85B	10.5×	+1.0×	Dec 31, 2006
2005	$27.64B	$2.93B	9.4×	+0.9×	Dec 31, 2005
2004	$18.68B	$2.19B	8.5×	+0.9×	Dec 31, 2004
2003	$13.40B	$1.75B	7.7×	-60.3×	Dec 31, 2003
2002	$7.21B	$106.00M	68.0×	+12.6×	Dec 31, 2002
2001	$5.72B	$103.27M	55.4×	—	Dec 31, 2001


Chevron (CVX)	37.2×
Enphase Energy (ENPH)	36.8×
Williams Companies (WMB)	31.4×
Exxon Mobil (XOM)	28.0×
Targa Resources (TRGP)	25.4×
SLB (SLB)	23.3×
Kinder Morgan (KMI)	22.5×
ConocoPhillips (COP)	22.1×
Enbridge (ENB)	21.6×
Halliburton (HAL)	21.2×
Baker Hughes (BKR)	19.4×
NACCO Industries (NC)	18.1×
Phillips 66 (PSX)	17.8×
Valero Energy (VLO)	17.5×
ONEOK (OKE)	16.1×
Marathon Petroleum (MPC)	15.6×
EOG Resources (EOG)	14.0×
Energy Transfer LP (ET)	13.7×
Occidental Petroleum (OXY)	13.5×
National Fuel Gas (NFG)	13.0×
First Solar (FSLR)	12.7×
EQT (EQT)	11.9×
APA (APA)	9.8×
Expand Energy (EXE)	8.2×
Sunrun (RUN)	5.6×

P/E Ratio for Devon Energy (DVN)

P/E Ratio daily chart for Devon Energy (DVN)

Historical P/E Ratio for Devon Energy (DVN) from 2001 to 2025

About P/E Ratio at Devon Energy (DVN)

Devon Energy P/E Ratio by Year

Devon Energy P/E Ratio 2025: 8.6×

Devon Energy P/E Ratio 2024: 7.1×

Devon Energy P/E Ratio 2023: 7.7×

Devon Energy P/E Ratio 2022: 6.7×

Devon Energy P/E Ratio 2021: 10.5×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Devon Energy (DVN) Key Financials

P/E Ratio daily chart for Devon Energy (DVN)

Historical P/E Ratio for Devon Energy (DVN) from 2001 to 2025

About P/E Ratio at Devon Energy (DVN)

Devon Energy P/E Ratio by Year

Devon Energy P/E Ratio 2025: 8.6×

Devon Energy P/E Ratio 2024: 7.1×

Devon Energy P/E Ratio 2023: 7.7×

Devon Energy P/E Ratio 2022: 6.7×

Devon Energy P/E Ratio 2021: 10.5×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Devon Energy's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Devon Energy?

+Is Devon Energy's P/E ratio high or low?

+What is Devon Energy's historical P/E ratio range?

+What was Devon Energy's P/E ratio in 2025?

+Why does Devon Energy's P/E ratio change over time?

Devon Energy (DVN) Key Financials