Devon Energy vs Woodside Energy
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KIRAβs take AI analyst
I put Devon Energy and Woodside Energy side by side, using each oneβs latest annual report. Here is what stands out:
- Devon Energy is the larger business, with $17.2B of revenue in fiscal 2025 against $13.0B for Woodside Energy.
- Devon Energy grew revenue faster (7.8%, against β1.5%).
- Devon Energy earned a higher return on the capital invested in it (13.0%, against 7.1%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Devon Energy
DVN
5/8
Revenue growthReturn on capitalReturn on equityPiotroski F-scoreShare count change
Woodside Energy
WDS
3/8
5-year growthNet marginNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | DVN FY25 | WDS FY25 |
|---|---|---|
| Size | ||
| Market cap | $48.5B | $44.6B |
| Revenue | $17.2B | $13.0B |
| Free cash flow | $3.1B | β |
| Net income | $2.6B | $2.7B |
| Growth | ||
| Revenue growth | 7.8% | β1.5% |
| 5-year growth | 28.9% | 29.3% |
| Share count change | β0.2% | 0.1% |
| Profitability | ||
| Gross margin | β | 34.9% |
| Operating margin | β | 30.0% |
| Net margin | 15.4% | 20.9% |
| FCF margin | 18.2% | β |
| Return on capital | 13.0% | 7.1% |
| Return on equity | 17.6% | 7.6% |
| Balance sheet | ||
| Net debt | $8.0B | $6.3B |
| Net debt / EBITDA | 1.1x | 0.7x |
| Dividends and buybacks | $1.7B | $2.1B |
| Valuation & quality | ||
| P/E | 12.3x | β |
| Piotroski F-score | 5 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

