Return on Assets (ROA)
since 2005
Calculation
Devon Energy Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net earnings (loss) attributable to Devon1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 25.36% | = | 100 | × | 6,015) | ÷ | 23,721) |
| Dec 31, 2021 | 13.38% | = | 100 | × | 2,813) | ÷ | 21,025) |
| Dec 31, 2020 | -27.04% | = | 100 | × | (2,680) | ÷ | 9,912) |
| Dec 31, 2019 | -2.59% | = | 100 | × | (355) | ÷ | 13,717) |
| Dec 31, 2018 | 15.66% | = | 100 | × | 3,064) | ÷ | 19,566) |
| Dec 31, 2017 | 2.97% | = | 100 | × | 898) | ÷ | 30,241) |
| Dec 31, 2016 | -12.74% | = | 100 | × | (3,302) | ÷ | 25,913) |
| Dec 31, 2015 | -48.94% | = | 100 | × | (14,454) | ÷ | 29,532) |
| Dec 31, 2014 | 3.17% | = | 100 | × | 1,607) | ÷ | 50,637) |
| Dec 31, 2013 | -0.05% | = | 100 | × | (20) | ÷ | 42,877) |
| Dec 31, 2012 | -0.48% | = | 100 | × | (206) | ÷ | 43,326) |
| Dec 31, 2011 | 11.44% | = | 100 | × | 4,704) | ÷ | 41,117) |
| Dec 31, 2010 | 13.82% | = | 100 | × | 4,550) | ÷ | 32,927) |
| Dec 31, 2009 | -8.35% | = | 100 | × | (2,479) | ÷ | 29,686) |
| Dec 31, 2008 | -6.73% | = | 100 | × | (2,148) | ÷ | 31,908) |
| Dec 31, 2007 | 8.70% | = | 100 | × | 3,606) | ÷ | 41,456) |
| Dec 31, 2006 | 8.12% | = | 100 | × | 2,846) | ÷ | 35,063) |
| Dec 31, 2005 | 9.68% | = | 100 | × | 2,930) | ÷ | 30,273) |
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
- Net Earnings (Loss) Attributable to Devon
- The net earnings exhibit substantial volatility over the analyzed period. Initially, net earnings remained positive and relatively strong from 2005 through 2007, peaking around 3606 million US dollars in 2007. A sharp decline occurred in 2008 and 2009, with significant losses recorded, reaching negative values of -2148 million and -2479 million US dollars, respectively. This loss was followed by a recovery in 2010 and 2011, where earnings rose to 4550 million and 4704 million US dollars, signaling a rebound. However, subsequent years show inconsistent performance with losses again occurring in 2012, 2013, 2015, 2016, 2019, and 2020. The most pronounced loss was in 2015, where the net earnings fell dramatically to -14454 million US dollars, indicating a severe downturn. Recovery phases appear in 2014, 2017, 2018, 2021, and 2022, with earnings once again turning positive and reaching over 6000 million in 2022. The pattern suggests episodic challenges balanced by periods of financial recuperation.
- Total Assets
- Total assets have shown fluctuating trends with an overall downward tendency from 2005 to 2020, followed by partial recovery in 2021 and 2022. Initially, assets increased from 30273 million US dollars in 2005 to a peak around 50637 million US dollars in 2014. After this peak, total assets fell sharply, dropping to 9912 million by the end of 2020. This decline represents a substantial contraction in asset base over these years. From 2021 onward, assets recovered somewhat, reaching 23721 million US dollars in 2022, still below earlier peaks but indicating an upward correction. The asset fluctuation mirrors the company's volatile earnings and overall financial stress, particularly evident during the mid-2010s.
- Return on Assets (ROA)
- The Return on Assets metric closely follows the trends observed in net earnings, highlighting the company's profitability relative to its asset base. Positive ROA values were recorded in the early years, with an initial peak at 9.68% in 2005 and a secondary peak of 13.82% in 2010. Negative ROA values correspond with reported net losses, most notably in 2015 with a deeply negative ROA of -48.94%, coinciding with the largest net loss. The ROA recovered variably in subsequent years, showing positive returns in 2017, 2018, 2021, and 2022. The highest ROA in the latter part of the series is 25.36% in 2022, indicating a strong profitability period relative to the asset size. Overall, the ROA illustrates a cyclical performance pattern with significant negative deviations during financial downturns and strong positive rebounds aligned with profit recoveries.
Comparison to Competitors
Devon Energy Corp., ROA, long-term trends, comparison to competitors
| Devon Energy Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 25.36% | 13.76% | 19.91% | 15.10% | 18.32% |
| Dec 31, 2021 | 13.38% | 6.52% | 8.91% | 6.80% | 3.09% |
| Dec 31, 2020 | -27.04% | -2.31% | -4.31% | -6.74% | -18.52% |
| Dec 31, 2019 | -2.59% | 1.23% | 10.20% | 3.95% | -0.61% |
| Dec 31, 2018 | 15.66% | 5.84% | 8.94% | 6.02% | 9.42% |
| Dec 31, 2017 | 2.97% | 3.62% | -1.17% | 5.65% | 3.12% |
| Dec 31, 2016 | -12.74% | -0.19% | -4.03% | 2.37% | -1.33% |
| Dec 31, 2015 | -48.94% | 1.72% | -4.54% | 4.80% | -18.02% |
| Dec 31, 2014 | 3.17% | 7.23% | 5.89% | 9.30% | 1.09% |
| Dec 31, 2013 | -0.05% | 8.44% | 7.76% | 9.39% | 8.50% |
| Dec 31, 2012 | -0.48% | 11.24% | 7.19% | 13.45% | 7.16% |
| Dec 31, 2011 | 11.44% | 12.84% | 8.12% | 12.40% | 11.28% |
| Dec 31, 2010 | 13.82% | 10.30% | 7.27% | 10.07% | 8.64% |
| Dec 31, 2009 | -8.35% | 6.37% | 3.18% | 8.26% | 6.59% |
| Dec 31, 2008 | -6.73% | 14.85% | -11.90% | 19.83% | 16.51% |
| Dec 31, 2007 | 8.70% | 12.56% | 6.69% | 16.78% | 14.79% |
| Dec 31, 2006 | 8.12% | 12.92% | 9.44% | 18.04% | 12.93% |
| Dec 31, 2005 | 9.68% | 11.20% | 12.64% | 17.34% | 20.23% |
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., ROA, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Devon Energy Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2022 | 25.36% | 15.53% |
| Dec 31, 2021 | 13.38% | 6.59% |
| Dec 31, 2020 | -27.04% | -6.36% |
| Dec 31, 2019 | -2.59% | 3.05% |
| Dec 31, 2018 | 15.66% | 6.45% |
| Dec 31, 2017 | 2.97% | 4.09% |
| Dec 31, 2016 | -12.74% | 0.44% |
| Dec 31, 2015 | -48.94% | 1.14% |
| Dec 31, 2014 | 3.17% | 7.52% |
| Dec 31, 2013 | -0.05% | 8.76% |
| Dec 31, 2012 | -0.48% | 11.24% |
| Dec 31, 2011 | 11.44% | 11.56% |
| Dec 31, 2010 | 13.82% | 9.39% |
| Dec 31, 2009 | -8.35% | 6.31% |
| Dec 31, 2008 | -6.73% | 10.29% |
| Dec 31, 2007 | 8.70% | 12.66% |
| Dec 31, 2006 | 8.12% | 13.92% |
| Dec 31, 2005 | 9.68% | 14.77% |
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., ROA, long-term trends, comparison to industry (energy)
| Devon Energy Corp. | Energy | |
|---|---|---|
| Dec 31, 2022 | 25.36% | 15.14% |
| Dec 31, 2021 | 13.38% | 6.48% |
| Dec 31, 2020 | -27.04% | -7.40% |
| Dec 31, 2019 | -2.59% | 1.63% |
| Dec 31, 2018 | 15.66% | 6.14% |
| Dec 31, 2017 | 2.97% | 3.53% |
| Dec 31, 2016 | -12.74% | 0.18% |
| Dec 31, 2015 | -48.94% | 1.30% |
| Dec 31, 2014 | 3.17% | 7.56% |
| Dec 31, 2013 | -0.05% | 8.86% |
| Dec 31, 2012 | -0.48% | 11.06% |
| Dec 31, 2011 | 11.44% | 11.39% |
| Dec 31, 2010 | 13.82% | 9.31% |
| Dec 31, 2009 | -8.35% | 6.47% |
| Dec 31, 2008 | -6.73% | 10.64% |
| Dec 31, 2007 | 8.70% | 12.92% |
| Dec 31, 2006 | 8.12% | 14.01% |
| Dec 31, 2005 | 9.68% | 14.68% |
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).