NYSE · DVN
Devon Energy Corporation
Energy · Oil & Gas Exploration & Production
$52.15▲ 1.93% ($0.98)at close
Pre-market$51.40▼ 1.44%7:13 AM ET
Market cap
$57.37B
P/E
14.95
EPS (TTM)
$3.49
Recent acquisition on record
Event dated Mar 11, 2026DEVON ENERGY CORP/DE has a recent acquisition record for Coterra Energy Inc.. Reported results and multi-period comparisons may mix pre- and post-transaction periods, so review the reference filing before leaning on valuation outputs.
Open reference filingValuation
Revenue & margin DCF
Verdict: fairly priced. Price between Bear and Base.
The price needs 4.2% revenue growth a year for 10 years. Our scenarios assume 3.3–5.7%.
That's below its past 4-year pace of 8.9%.
Value per share
Base case
$54.56
Price used $52.15 is 4% below this
USD · TTM ending Jun 30, 2026 · Price Oct 30, 8:00 PM UTC
Revenue each value needs
Revenue today $19.7B. The price needs $29.6B by 2036. Base case: $30.6B. At its recent pace: $46.3B. Bear to Bull: $27.1B to $34.1B.
Revenue today $19.7B. The price needs $29.6B by 2036. Base case: $30.6B. At its recent pace: $46.3B. Bear to Bull: $27.1B to $34.1B.
Revenue in 2036
today $19.7B
−$1Bless than the Base case
Value per share · Base case
$54.56
Price $52.15
4% below this
- 10-yr revenue CAGR
- 4.5%
- Ending operating margin
- 19.0%
- Discount rate
- 6.5%
USD · TTM ending Jun 30, 2026 · Price Oct 30, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 62.92% over the last year. Revenue grew 14.64% over the trailing twelve months. Operating margin moved from 24.34% to 23.86%. Free cash flow grew 376.69% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (76th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 23.86% — continued expansion would be needed to justify the premium. Revenue growth of 14.64% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Return analysis
Company profile
As an independent energy producer, Devon Energy Corporation primarily focuses on the exploration, development, and extraction of oil, natural gas, and natural gas liquids within the United States.
Market multiples
Stock splits
Every 1 shares became 2
Profitability & growth
Analyst consensus
46
Buy
18
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Actuals vs estimates by quarter, or any quarter against the same one a year earlier.
Next report
Nov 5, 2026
Q3 FY26 · EPS est $1.31 · Revenue est $6.6B
Same quarter, year over year
FY26 YTD +27.3%Each cell vs the same quarter a year earlier (the cell below) · Q1–Q2 combined $2.61 vs $2.05 · 1 of 2 quarters up
Q1
Q2
Q3
Q4
FY total
FY26
—
—
FY25
FY24
FY23
—
—
—
Fiscal year totals
- FY25
- $3.91
- -19.0%
- FY24
- $4.83
- —
Q2 FY26
Reported Aug 4, 2026 · Latest
HoverTap a cell to inspect
Actual
$1.57
Estimate
$1.40
Year over year
+86.9%
Vs prior quarter
+51.0%
Institutional Sentiment
Devon Energy Corporation · DVN
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.