Analysis of Revenues
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- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Revenues as Reported
Devon Energy Corp., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Oil Sales
- Oil sales experienced a marked decline from 2018 to 2020, dropping from 3,771 million USD to 2,034 million USD. This downward trend reversed significantly in subsequent years, with sales surging to 6,996 million USD in 2021 and further to 10,281 million USD in 2022, indicating a strong recovery and growth phase.
- Gas Sales
- Gas sales followed a similar downward trajectory from 950 million USD in 2018 to 326 million USD in 2020. Beginning in 2021, gas sales showed improvement, increasing to 1,104 million USD and further to 1,948 million USD in 2022, suggesting positive momentum in this segment.
- NGL (Natural Gas Liquids) Sales
- NGL sales decreased from 956 million USD in 2018 to 335 million USD in 2020, seasonal by the same pattern seen in oil and gas sales. They rebounded, reaching 1,431 million USD in 2021 and 1,853 million USD in 2022, showing recovery and enhanced market activity.
- Total Oil, Gas, and NGL Sales
- Total sales of oil, gas, and NGL mirrored the individual product trends. They declined substantially from 5,677 million USD in 2018 to 2,695 million USD in 2020, then exhibited a strong recovery to 9,531 million USD in 2021 and 14,082 million USD in 2022, underscoring the progressively improving commodity prices or volumes sold.
- Marketing and Midstream Revenues
- Marketing and midstream revenues showed a significant decrease from 4,449 million USD in 2018 to 1,978 million USD in 2020. Following this low point, revenues almost doubled to 4,219 million USD in 2021 and increased further to 5,745 million USD in 2022, indicating an expansion or recovery in these operational areas.
- Revenues from Contracts with Customers
- This category aggregates overall contractual revenues, reflecting trends consistent with the underlying product sales. Revenues dropped markedly from 10,126 million USD in 2018 to 4,673 million USD in 2020, before rebounding sharply to 13,750 million USD in 2021 and rising to 19,827 million USD in 2022. This significant rebound points to robust operational recovery.
- Overall Observations
- The period from 2018 to 2020 is characterized by a downward trend in revenue across all key segments, likely due to market or operational challenges. Starting in 2021, a notable recovery trend emerges, with revenues in all segments increasing sharply through 2022. The data suggests improving market conditions, enhanced production or sales volumes, and potentially higher commodity prices contributing to the robust rebound. Marketing and midstream segments follow the same pattern, indicating comprehensive growth in both production and midstream operations.