Devon Energy Corporation (DVN)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 14,375,000 | 18,337,000 | 10,950,000 | -1,592,000 | 2,162,000 |
| Revenue | US$ in thousands | 15,258,000 | 19,169,000 | 12,206,000 | 4,828,000 | 6,220,000 |
| Operating profit margin | 94.21% | 95.66% | 89.71% | -32.97% | 34.76% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $14,375,000K ÷ $15,258,000K
= 94.21%
The operating profit margin of Devon Energy Corp. has fluctuated over the past five years. In 2023, the operating profit margin was 32.18%, showing a decrease from 2022 when it was 41.32%. This decline could be attributed to various factors such as changes in operating expenses, revenue, or pricing dynamics in the energy industry.
Comparing to 2021, the operating profit margin in 2023 represents an improvement as it was 26.59% that year. However, it is noteworthy that in 2020 and 2019, the company experienced negative operating profit margins of -2.75% and 2.85% respectively. This indicates significant challenges during those years that impacted the company's profitability.
Overall, while the operating profit margin for Devon Energy Corp. has shown variability, the company seems to have made progress in improving its profitability in 2023 compared to the preceding years. This trend underscores the importance of closely monitoring operational efficiencies and cost management strategies to maintain sustainable profitability levels.
Peer comparison
Dec 31, 2023