How does Devon Energy (DVN) make money?

Devon Energy (DVN) generates revenue primarily from N G L Product Sales, which accounted for 100% of total revenue in TTM through Q1 2026. The company reported $16.5B in revenue and converted 13.7% of it into net profit, equivalent to roughly $2.27B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Devon Energy (DVN)?

Devon Energy (DVN) reported a gross profit margin of 22.1% in TTM through Q1 2026, equivalent to $3.66B in gross profit on $16.5B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Devon Energy (DVN)?

Devon Energy (DVN) reported an operating profit margin of 18.8% in TTM through Q1 2026, equivalent to $3.12B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Devon Energy (DVN)?

Devon Energy (DVN) reported a net profit margin of 13.7% in TTM through Q1 2026, equivalent to $2.27B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Devon Energy (DVN) profitable?

Yes. Devon Energy (DVN) reported $2.27B in net income for TTM through Q1 2026, with a net profit margin of 13.7%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Devon Energy (DVN) spend on capital expenditures?

Devon Energy (DVN) spent $3.79B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 22.9% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Devon Energy (DVN) generate?

Devon Energy (DVN) generated $2.64B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 15.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Devon Energy (DVN)?

Devon Energy (DVN) had an effective tax rate of 23.2% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

How Devon Energy Makes Money: 2026 Visual Revenue Map

Devon Energy (DVN) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 6, 2026).

Devon Energy discloses geographic revenue only in annual filings. to view the full breakdown.

Frequently asked questions

Data & methodology

Devon Energy (DVN) Key Financials

Charts, filings, and peer comparison for every metric

Trains Company Knowledge

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

DVN Overview

Counters

Revenue Counter$524.58/s
Earnings Counter$71.92/s
Economic Scale> Lao PDR

Income Statement

How It Makes Money
Income Statement Waterfall
Profit Bridge

Cash Flow

Cash Flow Waterfall
Free Cash Flow Bridge

Capital Return

Buybacks2.62% TTM
Dividend Profile2.34% yield
Dividend Calculator
Dividend Forecast
Dividend Capture
Stock Split History1 split

How this company returns cash to shareholders — buybacks, dividends, and stock splits.

Forecast & Valuation

Price Target Scenarios
Estimates$1.41 EPS
Fair Value
What If Invested
Stock Seasonality
Daily Price Character46.0% win rate