Devon Energy vs Woodside Energy
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The short version
- 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%).
| Latest fiscal year | DVN Β· FY25 | WDS Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $48.3B | $45.3B |
| 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 | 12.2x | β |
| Piotroski F-score | 5 | 4 |
Revenue
FY16
DVN $6.8B
WDS β
FY17
DVN $6.5B
WDS β
FY18
DVN $8.9B
WDS β
FY19
DVN $6.2B
WDS β
FY20
DVN $4.8B
WDS $3.6B
FY21
DVN $12.2B
WDS $7.0B
FY22
DVN $19.2B
WDS $16.8B
FY23
DVN $15.3B
WDS $14.0B
FY24
DVN $15.9B
WDS $13.2B
FY25
DVN $17.2B
WDS $13.0B
DVN
WDS
Operating margin
FY16
DVN β42.9%
WDS β
FY17
DVN β
WDS β
FY18
DVN β
WDS β
FY19
DVN β
WDS β
FY20
DVN β
WDS β143.6%
FY21
DVN β
WDS 50.2%
FY22
DVN β
WDS 54.6%
FY23
DVN β
WDS 23.6%
FY24
DVN β
WDS 34.3%
FY25
DVN β
WDS 30.0%
DVN
WDS
Free cash flow
FY16
DVN $116M
WDS β
FY17
DVN $1.3B
WDS β
FY18
DVN β$533M
WDS β
FY19
DVN $133M
WDS β
FY20
DVN $311M
WDS β
FY21
DVN $2.9B
WDS β
FY22
DVN $6.0B
WDS β
FY23
DVN $2.7B
WDS β
FY24
DVN $3.0B
WDS β
FY25
DVN $3.1B
WDS β
DVN
WDS
Return on capital
FY16
DVN β10.8%
WDS β
FY17
DVN 1.6%
WDS β
FY18
DVN 6.4%
WDS β
FY19
DVN 1.2%
WDS β
FY20
DVN β30.8%
WDS β
FY21
DVN 32.9%
WDS β
FY22
DVN 40.9%
WDS 23.8%
FY23
DVN 23.2%
WDS 7.1%
FY24
DVN 15.6%
WDS 9.1%
FY25
DVN 13.0%
WDS 7.1%
DVN
WDS
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.