Devon Energy Corporation (DVN)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 3,747,000 | 6,015,000 | 2,813,000 | -2,680,000 | -355,000 |
| Revenue | US$ in thousands | 15,258,000 | 19,169,000 | 12,206,000 | 4,828,000 | 6,220,000 |
| Net profit margin | 24.56% | 31.38% | 23.05% | -55.51% | -5.71% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $3,747,000K ÷ $15,258,000K
= 24.56%
The net profit margin of Devon Energy Corp. has exhibited significant fluctuations over the past five years. In 2023, the net profit margin was 24.56%, indicating that the company retained approximately 24.56% of its revenue as profit after accounting for all expenses. This represented a decrease from the previous year when the net profit margin was 31.08%.
In 2021, the net profit margin was 22.80%, showing a slight increase from the negative net profit margin of -55.59% in 2020. The drastic negative margin in 2020 suggests that the company's expenses exceeded its revenue, leading to a net loss for that year. The improvement in 2021 reflects a positive shift in the company's financial performance.
Furthermore, in 2019, Devon Energy Corp. had a net profit margin of -5.74%, indicating another year of net loss. Overall, the fluctuating trend in net profit margin for Devon Energy Corp. suggests varying levels of profitability and financial performance over the past five years, with a particularly challenging year in 2020 but a notable recovery thereafter.
Peer comparison
Dec 31, 2023