Devon Energy
DVN · Oil & Gas Exploration & Production
$51.39
4.5%EOG Resources
EOG · Oil & Gas Exploration & Production
$163.03
3.2%The short version
- EOG Resources is the larger business, with $22.6B of revenue in fiscal 2025 against $17.2B for Devon Energy.
- Devon Energy grew revenue faster (7.8%, against −4.5%).
- EOG Resources earned a higher return on the capital invested in it (16.2%, against 13.0%).
- Investors pay more for each dollar of EOG Resources’s earnings: a P/E of 12.7x against 12.2x for Devon Energy.
| Latest fiscal year | DVN · FY25 | EOG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $48.3B | $86.2B |
| Revenue | $17.2B | $22.6B |
| Free cash flow | $3.1B | — |
| Net income | $2.6B | $5.0B |
| Growth | ||
| Revenue growth | 7.8% | −4.5% |
| 5-year growth | 28.9% | 15.5% |
| Share count change | −0.2% | −4.0% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 28.2% |
| Net margin | 15.4% | 22.0% |
| FCF margin | 18.2% | — |
| Return on capital | 13.0% | 16.2% |
| Return on equity | 17.6% | 16.8% |
| Balance sheet | ||
| Net debt | $8.0B | $4.7B |
| Net debt / EBITDA | 1.1x | 0.4x |
| Dividends and buybacks | $1.7B | $4.7B |
| Valuation & quality | ||
| P/E | 12.2x | 12.7x |
| Piotroski F-score | 5 | 4 |
FY16
DVN $6.8B
EOG $7.7B
FY17
DVN $6.5B
EOG $11.2B
FY18
DVN $8.9B
EOG $17.3B
FY19
DVN $6.2B
EOG $17.4B
FY20
DVN $4.8B
EOG $11.0B
FY21
DVN $12.2B
EOG $18.6B
FY22
DVN $19.2B
EOG $25.7B
FY23
DVN $15.3B
EOG $24.2B
FY24
DVN $15.9B
EOG $23.7B
FY25
DVN $17.2B
EOG $22.6B
DVN
EOG
FY16
DVN −42.9%
EOG −16.0%
FY17
DVN —
EOG 8.3%
FY18
DVN —
EOG 25.9%
FY19
DVN —
EOG 21.3%
FY20
DVN —
EOG −4.9%
FY21
DVN —
EOG 32.7%
FY22
DVN —
EOG 38.8%
FY23
DVN —
EOG 39.7%
FY24
DVN —
EOG 34.1%
FY25
DVN —
EOG 28.2%
DVN
EOG
FY16
DVN $116M
EOG —
FY17
DVN $1.3B
EOG —
FY18
DVN −$533M
EOG —
FY19
DVN $133M
EOG —
FY20
DVN $311M
EOG —
FY21
DVN $2.9B
EOG —
FY22
DVN $6.0B
EOG —
FY23
DVN $2.7B
EOG —
FY24
DVN $3.0B
EOG —
FY25
DVN $3.1B
EOG —
DVN
EOG
FY16
DVN −10.8%
EOG −5.1%
FY17
DVN 1.6%
EOG 4.5%
FY18
DVN 6.4%
EOG 15.8%
FY19
DVN 1.2%
EOG 11.7%
FY20
DVN −30.8%
EOG −1.8%
FY21
DVN 32.9%
EOG 21.2%
FY22
DVN 40.9%
EOG 33.6%
FY23
DVN 23.2%
EOG 29.6%
FY24
DVN 15.6%
EOG 23.3%
FY25
DVN 13.0%
EOG 16.2%
DVN
EOG
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.