Price to Sales (P/S)
since 2005
Calculation
Devon Energy Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 15, 2023 | 1.95 | = | 57.23 | ÷ | 29.31 | 29.31 | = | 19,169 | ÷ | 654,000,000 | |
| Feb 16, 2022 | 2.93 | = | 53.85 | ÷ | 18.38 | 18.38 | = | 12,206 | ÷ | 664,200,000 | |
| Feb 17, 2021 | 3.03 | = | 21.73 | ÷ | 7.17 | 7.17 | = | 4,828 | ÷ | 673,100,000 | |
| Feb 19, 2020 | 1.40 | = | 22.72 | ÷ | 16.24 | 16.24 | = | 6,220 | ÷ | 382,900,000 | |
| Feb 20, 2019 | 1.24 | = | 30.27 | ÷ | 24.49 | 24.49 | = | 10,734 | ÷ | 438,300,000 | |
| Feb 21, 2018 | 1.15 | = | 30.57 | ÷ | 26.51 | 26.51 | = | 13,949 | ÷ | 526,100,000 | |
| Feb 15, 2017 | 2.25 | = | 44.23 | ÷ | 19.64 | 19.64 | = | 10,304 | ÷ | 524,600,000 | |
| Feb 17, 2016 | 0.68 | = | 20.33 | ÷ | 29.79 | 29.79 | = | 13,145 | ÷ | 441,300,000 | |
| Feb 20, 2015 | 1.34 | = | 63.82 | ÷ | 47.59 | 47.59 | = | 19,566 | ÷ | 411,100,000 | |
| Feb 28, 2014 | 2.52 | = | 64.42 | ÷ | 25.52 | 25.52 | = | 10,397 | ÷ | 407,400,000 | |
| Feb 21, 2013 | 2.34 | = | 54.88 | ÷ | 23.40 | 23.40 | = | 9,502 | ÷ | 406,000,000 | |
| Feb 24, 2012 | 2.65 | = | 75.19 | ÷ | 28.34 | 28.34 | = | 11,454 | ÷ | 404,100,000 | |
| Feb 25, 2011 | 3.88 | = | 90.35 | ÷ | 23.28 | 23.28 | = | 9,940 | ÷ | 427,000,000 | |
| Feb 25, 2010 | 3.84 | = | 68.81 | ÷ | 17.94 | 17.94 | = | 8,015 | ÷ | 446,800,000 | |
| Feb 27, 2009 | 1.27 | = | 43.67 | ÷ | 34.27 | 34.27 | = | 15,211 | ÷ | 443,800,000 | |
| Feb 28, 2008 | 4.15 | = | 106.04 | ÷ | 25.57 | 25.57 | = | 11,362 | ÷ | 444,390,145 | |
| Feb 28, 2007 | 2.76 | = | 65.70 | ÷ | 23.80 | 23.80 | = | 10,578 | ÷ | 444,461,491 | |
| Mar 3, 2006 | 2.50 | = | 60.81 | ÷ | 24.31 | 24.31 | = | 10,741 | ÷ | 441,865,011 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Devon Energy Corp. Annual Report.
- Share Price
- The share price exhibited significant volatility over the analyzed period. Starting at $60.81 in 2006, it experienced a peak at $106.04 in 2008 before sharply declining to $43.67 in 2009. Subsequently, the price fluctuated, reaching a secondary high of $90.35 in 2011 and then declining again to a low of $20.33 in 2016. Post-2016, the share price showed a gradual recovery, increasing to $57.23 in 2023. This pattern indicates periods of market optimism and downturns, likely reflecting broader commodity price movements or company-specific factors.
- Sales Per Share
- Sales per share demonstrated variability across the years. From $24.31 in 2006, sales per share increased to a high of $47.59 in 2014, indicating substantial revenue generation relative to shares outstanding at that time. However, there was a notable decrease to $7.17 in 2021, representing a significant contraction in sales efficiency or possible impacts from market or operational challenges. The following years showed a rebound, with sales per share increasing to $29.31 by 2023, suggesting recovery in sales performance.
- Price-to-Sales Ratio (P/S)
- The price-to-sales ratio showed pronounced fluctuations, starting at 2.5 in 2006 and peaking at 4.15 in 2008, which reflects a high valuation relative to sales during that period. Thereafter, the ratio declined sharply to a low of 0.68 in 2016, indicating that the market value was relatively low compared to sales, which could point to investor concerns or undervaluation. After 2016, the ratio generally increased, reaching 2.93 in 2022 before decreasing slightly to 1.95 in 2023, aligning with the recovery in both share price and sales.
- Overall Trends and Insights
- The financial data reveal a cyclical nature in market valuation and operational performance. Share price and sales per share are positively correlated to some extent, with both exhibiting downturns around 2009 and 2016, followed by gradual recoveries. The P/S ratio's volatility reflects changing investor sentiment and valuation levels relative to revenues over time. Periods of low P/S correspond with low share prices despite relatively stable or recovering sales, suggesting opportunities for value-based investment. The strong recovery in sales per share and share price in the early 2020s indicates improved market conditions or company performance after prior downturns.
Comparison to Competitors
Devon Energy Corp., P/S, long-term trends, comparison to competitors
| Devon Energy Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Feb 15, 2023 | 1.95 | 1.31 | 1.68 | 1.12 | 1.45 |
| Feb 16, 2022 | 2.93 | 1.69 | 2.58 | 1.17 | 1.40 |
| Feb 17, 2021 | 3.03 | 2.09 | 3.52 | 1.34 | 1.39 |
| Feb 19, 2020 | 1.40 | 1.46 | 1.94 | 0.88 | 1.44 |
| Feb 20, 2019 | 1.24 | 1.43 | 2.16 | 1.20 | 2.80 |
| Feb 21, 2018 | 1.15 | 1.56 | 2.21 | 1.35 | 4.18 |
| Feb 15, 2017 | 2.25 | 1.91 | 2.51 | 1.54 | 4.94 |
| Feb 17, 2016 | 0.68 | 1.24 | 1.38 | 1.30 | 4.27 |
| Feb 20, 2015 | 1.34 | 1.02 | 1.57 | 0.95 | 3.18 |
| Feb 28, 2014 | 2.52 | 0.98 | 1.50 | 0.98 | 3.12 |
| Feb 21, 2013 | 2.34 | 0.98 | 1.23 | 0.89 | 2.73 |
| Feb 24, 2012 | 2.65 | 0.88 | 0.39 | 0.88 | 3.55 |
| Feb 25, 2011 | 3.88 | 1.03 | 0.59 | 1.14 | 4.34 |
| Feb 25, 2010 | 3.84 | 0.87 | 0.48 | 1.02 | 4.17 |
| Feb 27, 2009 | 1.27 | 0.48 | 0.24 | 0.73 | 1.69 |
| Feb 28, 2008 | 4.15 | 0.86 | 0.67 | 1.23 | 3.22 |
| Feb 28, 2007 | 2.76 | 0.72 | 0.60 | 1.12 | 2.20 |
| Mar 3, 2006 | 2.50 | 0.66 | 0.48 | 1.01 | 2.45 |
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., P/S, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Devon Energy Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Feb 15, 2023 | 1.95 | 1.25 |
| Feb 16, 2022 | 2.93 | 1.47 |
| Feb 17, 2021 | 3.03 | 1.71 |
| Feb 19, 2020 | 1.40 | 1.16 |
| Feb 20, 2019 | 1.24 | 1.41 |
| Feb 21, 2018 | 1.15 | 1.57 |
| Feb 15, 2017 | 2.25 | 1.81 |
| Feb 17, 2016 | 0.68 | 1.37 |
| Feb 20, 2015 | 1.34 | 1.09 |
| Feb 28, 2014 | 2.52 | 1.09 |
| Feb 21, 2013 | 2.34 | 1.00 |
| Feb 24, 2012 | 2.65 | 0.82 |
| Feb 25, 2011 | 3.88 | 1.06 |
| Feb 25, 2010 | 3.84 | 0.93 |
| Feb 27, 2009 | 1.27 | 0.57 |
| Feb 28, 2008 | 4.15 | 1.05 |
| Feb 28, 2007 | 2.76 | 0.91 |
| Mar 3, 2006 | 2.50 | 0.82 |
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., P/S, long-term trends, comparison to industry (energy)
| Devon Energy Corp. | Energy | |
|---|---|---|
| Feb 15, 2023 | 1.95 | 1.31 |
| Feb 16, 2022 | 2.93 | 1.51 |
| Feb 17, 2021 | 3.03 | 1.68 |
| Feb 19, 2020 | 1.40 | 1.19 |
| Feb 20, 2019 | 1.24 | 1.43 |
| Feb 21, 2018 | 1.15 | 1.70 |
| Feb 15, 2017 | 2.25 | 1.98 |
| Feb 17, 2016 | 0.68 | 1.45 |
| Feb 20, 2015 | 1.34 | 1.16 |
| Feb 28, 2014 | 2.52 | 1.18 |
| Feb 21, 2013 | 2.34 | 1.07 |
| Feb 24, 2012 | 2.65 | 0.89 |
| Feb 25, 2011 | 3.88 | 1.17 |
| Feb 25, 2010 | 3.84 | 1.01 |
| Feb 27, 2009 | 1.27 | 0.60 |
| Feb 28, 2008 | 4.15 | 1.14 |
| Feb 28, 2007 | 2.76 | 0.99 |
| Mar 3, 2006 | 2.50 | 0.90 |
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).