Net Profit Margin
since 2005
Calculation
Devon Energy Corp., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net earnings (loss) attributable to Devon1 | ÷ | Revenues1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 31.38% | = | 100 | × | 6,015) | ÷ | 19,169) |
| Dec 31, 2021 | 23.05% | = | 100 | × | 2,813) | ÷ | 12,206) |
| Dec 31, 2020 | -55.51% | = | 100 | × | (2,680) | ÷ | 4,828) |
| Dec 31, 2019 | -5.71% | = | 100 | × | (355) | ÷ | 6,220) |
| Dec 31, 2018 | 28.54% | = | 100 | × | 3,064) | ÷ | 10,734) |
| Dec 31, 2017 | 6.44% | = | 100 | × | 898) | ÷ | 13,949) |
| Dec 31, 2016 | -32.05% | = | 100 | × | (3,302) | ÷ | 10,304) |
| Dec 31, 2015 | -109.96% | = | 100 | × | (14,454) | ÷ | 13,145) |
| Dec 31, 2014 | 8.21% | = | 100 | × | 1,607) | ÷ | 19,566) |
| Dec 31, 2013 | -0.19% | = | 100 | × | (20) | ÷ | 10,397) |
| Dec 31, 2012 | -2.17% | = | 100 | × | (206) | ÷ | 9,502) |
| Dec 31, 2011 | 41.07% | = | 100 | × | 4,704) | ÷ | 11,454) |
| Dec 31, 2010 | 45.77% | = | 100 | × | 4,550) | ÷ | 9,940) |
| Dec 31, 2009 | -30.93% | = | 100 | × | (2,479) | ÷ | 8,015) |
| Dec 31, 2008 | -14.12% | = | 100 | × | (2,148) | ÷ | 15,211) |
| Dec 31, 2007 | 31.74% | = | 100 | × | 3,606) | ÷ | 11,362) |
| Dec 31, 2006 | 26.90% | = | 100 | × | 2,846) | ÷ | 10,578) |
| Dec 31, 2005 | 27.28% | = | 100 | × | 2,930) | ÷ | 10,741) |
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
The net profit margin exhibits extreme volatility over the analyzed 18-year period, characterized by cyclical swings between significant profitability and deep losses. This instability suggests a high degree of sensitivity to external market conditions and operational volatility.
- Initial Stability and First Major Cycle (2005–2011)
- The period began with stable profitability, with margins ranging between 26.90% and 31.74% from 2005 to 2007. This was followed by a sharp reversal in 2008 and 2009, where margins plummeted to -14.12% and -30.93%, respectively. A rapid recovery ensued, peaking in 2010 at 45.77%, the highest margin recorded in the entire sequence, before settling at 41.07% in 2011.
- Intermediate Decline and Severe Loss (2012–2016)
- Profitability eroded sharply after 2011, with margins falling to -2.17% in 2012 and nearly flatlining at -0.19% in 2013. Although a brief recovery to 8.21% occurred in 2014, it was followed by the most severe contraction in the period. In 2015, the net profit margin reached -109.96%, indicating that net losses exceeded total revenues for that year. This downward trend persisted into 2016 with a margin of -32.05%.
- Recent Fluctuations and Recovery (2017–2022)
- A return to profitability was observed in 2017 (6.44%) and 2018 (28.54%). However, this trend was interrupted by another downturn in 2019 and 2020, with margins dropping to -5.71% and -55.51%, respectively. The period concluded with a strong recovery trend, as margins climbed to 23.05% in 2021 and reached 31.38% by the end of 2022.
Analysis of revenue and earnings reveals that the net profit margin does not always move in tandem with revenue growth. For instance, in 2014, revenue peaked at 19,566 million US$, yet the profit margin remained relatively low at 8.21%. Conversely, the most significant loss in 2015 occurred while revenues remained substantially higher than in the 2019-2020 downturn, highlighting that net earnings are subject to pressures beyond simple top-line revenue fluctuations.
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Comparison to Competitors
Devon Energy Corp., net profit margin, long-term trends, comparison to competitors
| Devon Energy Corp. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2022 | 31.38% | 15.05% | 23.80% | 13.98% |
| Dec 31, 2021 | 23.05% | 10.04% | 17.63% | 8.33% |
| Dec 31, 2020 | -55.51% | -5.87% | -14.38% | -12.57% |
| Dec 31, 2019 | -5.71% | 2.09% | 22.07% | 5.61% |
| Dec 31, 2018 | 28.54% | 9.33% | 17.18% | 7.46% |
| Dec 31, 2017 | 6.44% | 6.83% | -2.94% | 8.31% |
| Dec 31, 2016 | -32.05% | -0.45% | -15.26% | 3.59% |
| Dec 31, 2015 | -109.96% | 3.53% | -14.98% | 6.22% |
| Dec 31, 2014 | 8.21% | 9.60% | 13.08% | 8.25% |
| Dec 31, 2013 | -0.19% | 9.73% | 16.83% | 7.74% |
| Dec 31, 2012 | -2.17% | 11.35% | 14.54% | 9.90% |
| Dec 31, 2011 | 41.07% | 11.01% | 5.08% | 8.79% |
| Dec 31, 2010 | 45.77% | 9.60% | 6.00% | 8.23% |
| Dec 31, 2009 | -30.93% | 6.26% | 3.25% | 6.39% |
| Dec 31, 2008 | -14.12% | 9.03% | -7.06% | 9.84% |
| Dec 31, 2007 | 31.74% | 8.73% | 6.34% | 10.40% |
| Dec 31, 2006 | 26.90% | 8.36% | 8.47% | 10.81% |
| Dec 31, 2005 | 27.28% | 7.28% | 7.54% | 10.07% |
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., net profit margin, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Devon Energy Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2022 | 31.38% | 15.41% |
| Dec 31, 2021 | 23.05% | 9.78% |
| Dec 31, 2020 | -55.51% | -10.51% |
| Dec 31, 2019 | -5.71% | 5.71% |
| Dec 31, 2018 | 28.54% | 8.83% |
| Dec 31, 2017 | 6.44% | 7.00% |
| Dec 31, 2016 | -32.05% | 1.06% |
| Dec 31, 2015 | -109.96% | 3.89% |
| Dec 31, 2014 | 8.21% | 9.06% |
| Dec 31, 2013 | -0.19% | 9.08% |
| Dec 31, 2012 | -2.17% | 10.72% |
| Dec 31, 2011 | 41.07% | 8.41% |
| Dec 31, 2010 | 45.77% | 8.03% |
| Dec 31, 2009 | -30.93% | 5.60% |
| Dec 31, 2008 | -14.12% | 5.40% |
| Dec 31, 2007 | 31.74% | 8.99% |
| Dec 31, 2006 | 26.90% | 9.57% |
| Dec 31, 2005 | 27.28% | 8.71% |
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)
Devon Energy Corp., net profit margin, long-term trends, comparison to industry (energy)
| Devon Energy Corp. | Energy | |
|---|---|---|
| Dec 31, 2022 | 31.38% | 15.29% |
| Dec 31, 2021 | 23.05% | 9.70% |
| Dec 31, 2020 | -55.51% | -13.06% |
| Dec 31, 2019 | -5.71% | 3.11% |
| Dec 31, 2018 | 28.54% | 8.68% |
| Dec 31, 2017 | 6.44% | 6.15% |
| Dec 31, 2016 | -32.05% | 0.54% |
| Dec 31, 2015 | -109.96% | 4.04% |
| Dec 31, 2014 | 8.21% | 9.21% |
| Dec 31, 2013 | -0.19% | 9.44% |
| Dec 31, 2012 | -2.17% | 10.84% |
| Dec 31, 2011 | 41.07% | 8.58% |
| Dec 31, 2010 | 45.77% | 8.29% |
| Dec 31, 2009 | -30.93% | 5.89% |
| Dec 31, 2008 | -14.12% | 5.80% |
| Dec 31, 2007 | 31.74% | 9.37% |
| Dec 31, 2006 | 26.90% | 9.82% |
| Dec 31, 2005 | 27.28% | 8.84% |
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).