Question 1

What is Devon Energy's P/S ratio?

Accepted Answer

Devon Energy (DVN) P/S ratio is 1.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Devon Energy specifically, the relevant sector benchmark is the current sector median of 2.2×.

Question 5

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

Accepted Answer

Devon Energy's P/S ratio of 1.7× is below its own 5-year average of 1.9× and below the sector median of 2.2×. That places the current reading at the 38th 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/S ratio range?

Accepted Answer

In the available daily series, Devon Energy (DVN) P/S ratio has ranged from a low of 0.4× in 2020 to a high of 4.9× in 2011. The 5-year average is 1.9× and the 5-year median is 1.9×.

Question 7

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

Accepted Answer

Devon Energy (DVN) P/S ratio at the end of 2025 was 1.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$22.7B	$17.2B	1.3×	+0.0×	Dec 31, 2025
2024	$20.4B	$15.9B	1.3×	-0.6×	Dec 31, 2024
2023	$28.8B	$15.3B	1.9×	-0.2×	Dec 31, 2023
2022	$40.2B	$19.2B	2.1×	-0.3×	Dec 31, 2022
2021	$29.6B	$12.2B	2.4×	+1.2×	Dec 31, 2021
2020	$6.06B	$4.83B	1.3×	-0.4×	Dec 31, 2020
2019	$9.95B	$5.86B	1.7×	+0.7×	Dec 31, 2019
2018	$10.3B	$9.98B	1.0×	-0.8×	Dec 31, 2018
2017	$21.7B	$11.6B	1.9×	-0.5×	Dec 31, 2017
2016	$23.9B	$10.3B	2.3×	+1.3×	Dec 31, 2016
2015	$13.2B	$13.1B	1.0×	-0.3×	Dec 31, 2015
2014	$25B	$19.6B	1.3×	-1.1×	Dec 31, 2014
2013	$25.1B	$10.4B	2.4×	+0.3×	Dec 31, 2013
2012	$21.1B	$10B	2.1×	-0.2×	Dec 31, 2012
2011	$24.6B	$10.6B	2.3×	-1.7×	Dec 31, 2011
2010	$33.2B	$8.26B	4.0×	-0.4×	Dec 31, 2010
2009	$32.9B	$7.37B	4.5×	+2.6×	Dec 31, 2009
2008	$28.6B	$15.2B	1.9×	-1.6×	Dec 31, 2008
2007	$39.6B	$11.4B	3.5×	+0.5×	Dec 31, 2007
2006	$29.8B	$9.87B	3.0×	+0.4×	Dec 31, 2006
2005	$27.6B	$10.7B	2.6×	+0.5×	Dec 31, 2005
2004	$18.7B	$9.19B	2.0×	+0.2×	Dec 31, 2004
2003	$13.4B	$7.35B	1.8×	+0.2×	Dec 31, 2003
2002	$7.21B	$4.31B	1.7×	—	Dec 31, 2002


New Era Energy & Digital (NUAI)	84.8×
Texas Pacific Land (TPL)	39.0×
Williams Companies (WMB)	7.5×
Diamondback Energy (FANG)	3.7×
National Fuel Gas (NFG)	3.6×
Enphase Energy (ENPH)	3.5×
Targa Resources (TRGP)	3.3×
EOG Resources (EOG)	3.3×
ConocoPhillips (COP)	2.8×
Occidental Petroleum (OXY)	2.7×
Chevron (CVX)	2.2×
Baker Hughes (BKR)	2.2×
SLB (SLB)	2.1×
Enbridge (ENB)	2.1×
Expand Energy (EXE)	1.9×
APA (APA)	1.7×
ONEOK (OKE)	1.6×
NACCO Industries (NC)	1.4×
Halliburton (HAL)	1.3×
Energy Transfer LP (ET)	0.7×
Valero Energy (VLO)	0.6×
Phillips 66 (PSX)	0.5×
Marathon Petroleum (MPC)	0.5×

P/S Ratio for Devon Energy (DVN) 2002-2026

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

Historical P/S Ratio for Devon Energy (DVN) from 2002 to 2025

About P/S Ratio at Devon Energy (DVN)

Devon Energy P/S Ratio by Year

Devon Energy P/S Ratio 2025: 1.3×

Devon Energy P/S Ratio 2024: 1.3×

Devon Energy P/S Ratio 2023: 1.9×

Devon Energy P/S Ratio 2022: 2.1×

Devon Energy P/S Ratio 2021: 2.4×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Devon Energy (DVN) Key Financials