Devon Energy Corp. (DVN) | Long-term (Investment) Activity Analysis

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Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Ratios (Summary)

Devon Energy Corp., long-term (investment) activity ratios

	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007	Dec 31, 2006
Net fixed asset turnover	0.51	0.43	0.66	0.40	0.43
Total asset turnover	0.30	0.27	0.48	0.27	0.30
Equity turnover	0.52	0.51	0.89	0.52	0.61

Source: Based on data from Devon Energy Corp. Annual Reports

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Devon Energy Corp.'s net fixed asset turnover deteriorated from 2008 to 2009 but then slightly improved from 2009 to 2010.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Devon Energy Corp.'s total asset turnover deteriorated from 2008 to 2009 but then slightly improved from 2009 to 2010.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders' equity.	Devon Energy Corp.'s equity turnover deteriorated from 2008 to 2009 but then slightly improved from 2009 to 2010.

	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007	Dec 31, 2006
Selected Financial Data (USD $ in millions)
Revenues	9,940	8,015	15,211	11,362	10,578
Property and equipment, net	19,652	18,767	22,974	28,079	24,595
Net Fixed Asset Turnover, Comparison to Industry
Devon Energy Corp.¹	0.51	0.43	0.66	0.40	0.43
Industry, Oil & Gas	1.58	1.49	2.56	2.18	–

Source: Based on data from Devon Energy Corp. Annual Reports

2010 Calculations

¹ Net fixed asset turnover = Revenues ÷ Property and equipment, net
= 9,940 ÷ 19,652 = 0.51

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Devon Energy Corp.'s net fixed asset turnover deteriorated from 2008 to 2009 but then slightly improved from 2009 to 2010.

	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007	Dec 31, 2006
Selected Financial Data (USD $ in millions)
Revenues	9,940	8,015	15,211	11,362	10,578
Total assets	32,927	29,686	31,908	41,456	35,063
Total Asset Turnover, Comparison to Industry
Devon Energy Corp.¹	0.30	0.27	0.48	0.27	0.30
Industry, Oil & Gas	0.89	0.84	1.37	1.11	–

Source: Based on data from Devon Energy Corp. Annual Reports

2010 Calculations

¹ Total asset turnover = Revenues ÷ Total assets
= 9,940 ÷ 32,927 = 0.30

Ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Devon Energy Corp.'s total asset turnover deteriorated from 2008 to 2009 but then slightly improved from 2009 to 2010.

	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007	Dec 31, 2006
Selected Financial Data (USD $ in millions)
Revenues	9,940	8,015	15,211	11,362	10,578
Stockholders’ equity	19,253	15,570	17,060	22,006	17,442
Equity Turnover, Comparison to Industry
Devon Energy Corp.¹	0.52	0.51	0.89	0.52	0.61
Industry, Oil & Gas	1.83	1.78	2.98	2.39	–

Source: Based on data from Devon Energy Corp. Annual Reports

2010 Calculations

¹ Equity turnover = Revenues ÷ Stockholders’ equity
= 9,940 ÷ 19,253 = 0.52

Ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders' equity.	Devon Energy Corp.'s equity turnover deteriorated from 2008 to 2009 but then slightly improved from 2009 to 2010.