Stock Analysis on Net

Devon Energy Corp. (NYSE:DVN)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 8, 2023.

Current Ratio
since 2005

Microsoft Excel

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Calculation

Devon Energy Corp., current ratio, long-term trends, calculation

Microsoft Excel

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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions


Current Assets
The current assets exhibited considerable fluctuations throughout the period. Initially, there was a decline from 4,206 million USD in 2005 to 2,684 million USD in 2008. Subsequently, a notable increase occurred, peaking at 9,305 million USD in 2011. Following this peak, current assets generally decreased, with occasional moderate recoveries, reaching 3,891 million USD by the end of 2022. This pattern indicates variable liquidity availability, with significant buildup in the early 2010s followed by a downward correction.
Current Liabilities
Current liabilities showed an upward trend until 2011, rising from 2,934 million USD in 2005 to 6,738 million USD in 2011. Thereafter, liabilities fluctuated downward until 2018, hitting a low of 1,440 million USD in 2020. However, a sharp rebound occurred in 2021 and 2022, increasing to over 3,100 million USD by the end of the period. This variability suggests periods of increased short-term obligations interspersed with phases of liability reduction.
Current Ratio
The current ratio, which measures short-term liquidity, started at 1.43 in 2005 but dropped sharply to a low of 0.69 in 2006. It then showed a general improvement, exceeding the critical threshold of 1 from 2010 onward, peaking at 2.26 in 2020. After this high liquidity point, the ratio decreased slightly to 1.25 by 2022. This trend highlights an initial liquidity constraint followed by sustained strengthening of the company’s ability to cover short-term liabilities, though with some decline in the most recent years.
Overall Analysis
The data reveal cyclical shifts in liquidity management. The early years were characterized by low short-term liquidity, with assets not consistently exceeding liabilities. From 2010 to 2020, the company improved its liquidity position substantially, both by increasing current assets and managing liabilities downward. The post-2020 period shows a slight erosion in this strength, with current assets declining and liabilities rising, resulting in a moderated current ratio. This may indicate operational or market challenges impacting working capital management.

Comparison to Competitors

Devon Energy Corp., current ratio, long-term trends, comparison to competitors

Microsoft Excel

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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Sector (Oil, Gas & Consumable Fuels)

Devon Energy Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)

Microsoft Excel

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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Industry (Energy)