Devon Energy
DVN · Oil & Gas Exploration & Production
$51.39
4.5%Diamondback Energy
FANG · Oil & Gas Exploration & Production
$205.75
4.4%The short version
- Devon Energy is the larger business, with $17.2B of revenue in fiscal 2025 against $15.0B for Diamondback Energy.
- Diamondback Energy grew revenue faster (35.8%, against 7.8%).
- Devon Energy earned a higher return on the capital invested in it (13.0%, against 1.9%).
- Investors pay more for each dollar of Diamondback Energy’s earnings: a P/E of 39.1x against 12.2x for Devon Energy.
| Latest fiscal year | DVN · FY25 | FANG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $48.3B | $57.9B |
| Revenue | $17.2B | $15.0B |
| Free cash flow | $3.1B | — |
| Net income | $2.6B | $1.7B |
| Growth | ||
| Revenue growth | 7.8% | 35.8% |
| 5-year growth | 28.9% | 39.8% |
| Share count change | −0.2% | 35.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 8.4% |
| Net margin | 15.4% | 11.1% |
| FCF margin | 18.2% | — |
| Return on capital | 13.0% | 1.9% |
| Return on equity | 17.6% | 4.5% |
| Balance sheet | ||
| Net debt | $8.0B | $14.4B |
| Net debt / EBITDA | 1.1x | 2.3x |
| Dividends and buybacks | $1.7B | $1.2B |
| Valuation & quality | ||
| P/E | 12.2x | 39.1x |
| Piotroski F-score | 5 | 4 |
FY16
DVN $6.8B
FANG $527M
FY17
DVN $6.5B
FANG $1.2B
FY18
DVN $8.9B
FANG $2.2B
FY19
DVN $6.2B
FANG $4.0B
FY20
DVN $4.8B
FANG $2.8B
FY21
DVN $12.2B
FANG $6.8B
FY22
DVN $19.2B
FANG $9.6B
FY23
DVN $15.3B
FANG $8.4B
FY24
DVN $15.9B
FANG $11.1B
FY25
DVN $17.2B
FANG $15.0B
DVN
FANG
FY16
DVN −42.9%
FANG −13.0%
FY17
DVN —
FANG 50.2%
FY18
DVN —
FANG 46.5%
FY19
DVN —
FANG 17.5%
FY20
DVN —
FANG −194.7%
FY21
DVN —
FANG 58.9%
FY22
DVN —
FANG 67.5%
FY23
DVN —
FANG 54.3%
FY24
DVN —
FANG 39.7%
FY25
DVN —
FANG 8.4%
DVN
FANG
FY16
DVN $116M
FANG —
FY17
DVN $1.3B
FANG —
FY18
DVN −$533M
FANG —
FY19
DVN $133M
FANG —
FY20
DVN $311M
FANG —
FY21
DVN $2.9B
FANG —
FY22
DVN $6.0B
FANG —
FY23
DVN $2.7B
FANG —
FY24
DVN $3.0B
FANG —
FY25
DVN $3.1B
FANG —
DVN
FANG
FY16
DVN −10.8%
FANG −1.8%
FY17
DVN 1.6%
FANG 11.6%
FY18
DVN 6.4%
FANG 6.8%
FY19
DVN 1.2%
FANG 3.1%
FY20
DVN −30.8%
FANG −24.3%
FY21
DVN 32.9%
FANG 18.0%
FY22
DVN 40.9%
FANG 25.2%
FY23
DVN 23.2%
FANG 15.9%
FY24
DVN 15.6%
FANG 9.5%
FY25
DVN 13.0%
FANG 1.9%
DVN
FANG
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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.