Devon Energy Corp
devonenergy.comHow Do They Make Money?
Sources
-
10-K for FY2025, filed Feb 18, 2026
FY2025 revenue by product or service (Oil, gas and NGL sales) ↗
Revenue, FY2025
$17.2B
Sources
-
10-K for FY2025, filed Feb 18, 2026
$17.2B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Oil, Gas and NGL Sales
|
67%
FY2022: 71%
|
Oil, Gas and NGL Sales, FY2025
$11.2B Sources
|
|
Marketing and Midstream Revenues
|
33%
FY2022: 29%
|
Marketing and Midstream Revenues, FY2025
$5.6B Sources
|
Do Revenues Turn Into Profits?
Yes. It kept 15 cents of every revenue dollar as net income in FY2025 and turned 18 cents into free cash flow.
How Are They Changing?
Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Oil, Gas and NGL Sales share of oil, gas and ngl sales
vs 67.0% in Q2 FY2025
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 41% in 4 years, from $12.2B in FY2021 to $17.2B in FY2025, about 9% a year.
Revenue over time
Oil, Gas and NGL Sales
Marketing and Midstream Revenues
$20B$10B$0
$9.5B
$4.2B
$14.1B
$5.7B
$10.8B
$4.3B
$11.2B
$4.7B
$11.2B
$5.6B
100%50%0%
69%
31%
71%
29%
71%
29%
70%
30%
67%
33%
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