Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Devon Energy Corp., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Devon Energy Corp. net fixed asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Devon Energy Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Devon Energy Corp. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Devon Energy Corp. equity turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Net Fixed Asset Turnover
Devon Energy Corp., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 19,169) | 12,206) | 4,828) | 6,220) | 10,734) | |
| Property and equipment, net, including finance lease right-of-use assets | 18,309) | 15,219) | 5,613) | 8,822) | 13,935) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 1.05 | 0.80 | 0.86 | 0.71 | 0.77 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Chevron Corp. | 1.64 | 1.06 | 0.60 | 0.93 | — | |
| ConocoPhillips | 1.21 | 0.71 | 0.47 | 0.77 | — | |
| Exxon Mobil Corp. | 1.95 | 1.28 | 0.78 | 1.01 | — | |
| Marathon Petroleum Corp. | 4.98 | 3.20 | 1.79 | 2.72 | — | |
| Occidental Petroleum Corp. | 0.63 | 0.43 | 0.27 | 0.25 | — | |
| Valero Energy Corp. | 5.69 | 3.69 | 2.14 | 3.70 | — | |
| Net Fixed Asset Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 2.05 | 1.33 | 0.79 | 1.13 | — | |
| Net Fixed Asset Turnover, Industry | ||||||
| Energy | 2.08 | 1.35 | 0.83 | 1.17 | — | |
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).
1 2022 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net, including finance lease right-of-use assets
= 19,169 ÷ 18,309 = 1.05
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Devon Energy Corp. net fixed asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Devon Energy Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 19,169) | 12,206) | 4,828) | 6,220) | 10,734) | |
| Property and equipment, net, including finance lease right-of-use assets | 18,309) | 15,219) | 5,613) | 8,822) | 13,935) | |
| Operating lease right-of-use assets | 21) | 24) | 3) | 14) | —) | |
| Property and equipment, net, including finance lease right-of-use assets (including operating lease, right-of-use asset) | 18,330) | 15,243) | 5,616) | 8,836) | 13,935) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 1.05 | 0.80 | 0.86 | 0.70 | 0.77 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Chevron Corp. | 1.59 | 1.03 | 0.59 | 0.90 | — | |
| ConocoPhillips | 1.20 | 0.70 | 0.46 | 0.75 | — | |
| Exxon Mobil Corp. | 1.89 | 1.24 | 0.76 | 0.98 | — | |
| Marathon Petroleum Corp. | 4.81 | 3.09 | 1.72 | 2.58 | — | |
| Occidental Petroleum Corp. | 0.62 | 0.43 | 0.27 | 0.25 | — | |
| Valero Energy Corp. | 5.50 | 3.55 | 2.05 | 3.54 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Oil, Gas & Consumable Fuels | 2.00 | 1.29 | 0.77 | 1.10 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Energy | 2.02 | 1.32 | 0.80 | 1.14 | — | |
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).
1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net, including finance lease right-of-use assets (including operating lease, right-of-use asset)
= 19,169 ÷ 18,330 = 1.05
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Devon Energy Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Total Asset Turnover
Devon Energy Corp., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 19,169) | 12,206) | 4,828) | 6,220) | 10,734) | |
| Total assets | 23,721) | 21,025) | 9,912) | 13,717) | 19,566) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.81 | 0.58 | 0.49 | 0.45 | 0.55 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Chevron Corp. | 0.91 | 0.65 | 0.39 | 0.59 | — | |
| ConocoPhillips | 0.84 | 0.51 | 0.30 | 0.46 | — | |
| Exxon Mobil Corp. | 1.08 | 0.82 | 0.54 | 0.70 | — | |
| Marathon Petroleum Corp. | 1.97 | 1.41 | 0.82 | 1.26 | — | |
| Occidental Petroleum Corp. | 0.50 | 0.35 | 0.22 | 0.19 | — | |
| Valero Energy Corp. | 2.89 | 1.97 | 1.25 | 2.01 | — | |
| Total Asset Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.17 | 0.83 | 0.52 | 0.73 | — | |
| Total Asset Turnover, Industry | ||||||
| Energy | 1.15 | 0.82 | 0.52 | 0.72 | — | |
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).
1 2022 Calculation
Total asset turnover = Revenues ÷ Total assets
= 19,169 ÷ 23,721 = 0.81
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Devon Energy Corp. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Equity Turnover
Devon Energy Corp., equity turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 19,169) | 12,206) | 4,828) | 6,220) | 10,734) | |
| Stockholders’ equity attributable to Devon | 11,167) | 9,262) | 2,885) | 5,802) | 9,186) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 1.72 | 1.32 | 1.67 | 1.07 | 1.17 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Chevron Corp. | 1.48 | 1.12 | 0.72 | 0.97 | — | |
| ConocoPhillips | 1.64 | 1.01 | 0.63 | 0.93 | — | |
| Exxon Mobil Corp. | 2.04 | 1.64 | 1.14 | 1.33 | — | |
| Marathon Petroleum Corp. | 6.40 | 4.58 | 3.14 | 3.68 | — | |
| Occidental Petroleum Corp. | 1.22 | 1.28 | 0.96 | 0.60 | — | |
| Valero Energy Corp. | 7.49 | 6.18 | 3.45 | 4.97 | — | |
| Equity Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 2.28 | 1.77 | 1.17 | 1.48 | — | |
| Equity Turnover, Industry | ||||||
| Energy | 2.26 | 1.76 | 1.20 | 1.47 | — | |
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).
1 2022 Calculation
Equity turnover = Revenues ÷ Stockholders’ equity attributable to Devon
= 19,169 ÷ 11,167 = 1.72
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Devon Energy Corp. equity turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |