Devon Energy Corporation

DVNNYSEEnergy● Active

$45.11

+$0.83(+1.86%)

Market Cap$28.0B

P/E Ratio—

52W High$52.71

52W Low$31.32

Avg Volume15.8M

Open$44.99

Beta0.42

Free Cash Flow Financials Revenue

Devon Energy Corporation (DVN) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

DVN · free cash flow · updated Jun 8, 2026

Core FCF metrics

DVN · FCF · TTM · margin & CAGR

Free cash flow was $3.12B for FY2025 (fiscal year ending 2025-12-31), up 465.7% year-over-year The FCF margin was 18.1%. Five-year CAGR stands at +74.5%.

FY2025 Free Cash Flow$3.12B▲ +465.7% YoY

Trailing 12M (TTM)$2.69Btrailing 4 quarters sum

FCF Margin18.1%$3.12B ÷ revenue

3-Year CAGR-2.9%FY2022 → FY2025

5-Year CAGR+74.5%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

DVN · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$6.71B(3.59B)$3.12B▲ +465.7%18.1%

FY2024$6.60B(7.45B)−$853.0M▼ 132.8%-5.3%

FY2023$6.54B(3.95B)$2.60B▼ 23.7%17.0%

FY2022$8.53B(5.13B)$3.40B▲ +17.7%17.8%

FY2021$4.90B(2.01B)$2.89B▲ +1398.4%23.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

DVN · P/FCF · FCF yield · FCF per share

Devon Energy Corporation (DVN) trades at a FCF yield of 9.57% and a price-to-free-cash-flow ratio of 10.5x. FCF per share stands at $4.28, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

9.57%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$4.28

TTM FCF ÷ Shares Outstanding

Price / FCF

x10.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x13.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

DVN · cash flow statement · operating / investing / financing

For FY2025, Devon Energy Corporation generated $6.71B in operating cash flow and spent 3.59B in capital expenditures, yielding $3.12B in free cash flow.

Operating Activities

+$6.71B

Cash from core business operations

2025-12-31

Investing Activities

−$3.39B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$2.73B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($6.71B) − |CapEx| (3.59B) = FCF ($3.12B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Energy)

DVN vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Devon Energy CorporationYOU

DVN

$3.12B+465.7%18.1%

13%

Exxon Mobil Corporation

Energy · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Devon Energy Corporation (DVN) reported free cash flow of $3.12B for FY2025 (fiscal year ending 2025-12-31), up 465.7% year-over-year. The FCF margin was 18.1%.

Based on available data, Devon Energy Corporation has maintained positive free cash flow for at least 8 fiscal year(s). FCF peaked at $3.40B in FY2022. The 5-year CAGR stands at +74.5%.

Devon Energy Corporation's FCF yield is 9.57% and price-to-FCF ratio is 10.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

DVN free cash flow · 8 questions

Devon Energy Corporation free cash flow was $3.12B for FY2025, up 465.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.69B.

DVN free cash flowDVN FCFDVN FCF 2025DVN free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Devon Energy Corporation · Devon Energy Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026