Devon Energy Corporation (DVN)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 4,588,000 | 7,753,000 | 2,878,000 | -3,227,000 | -385,000 |
| Revenue | US$ in thousands | 15,258,000 | 19,169,000 | 12,206,000 | 4,828,000 | 6,220,000 |
| Pretax margin | 30.07% | 40.45% | 23.58% | -66.84% | -6.19% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $4,588,000K ÷ $15,258,000K
= 30.07%
The pretax margin of Devon Energy Corp. has fluctuated significantly over the past five years. In 2023, the pretax margin was 30.30%, indicating that the company generated a profit of $0.303 for every dollar of revenue before considering taxes. This represented a decrease from the previous year when the pretax margin was 40.56%.
In 2021, Devon Energy Corp. had a pretax margin of 23.74%, showing a moderate profitability level compared to the previous years. However, in 2020, the company reported a negative pretax margin of -64.00%, indicating that its expenses surpassed its revenue before taxes, resulting in a loss.
Similarly, in 2019, Devon Energy Corp. experienced a negative pretax margin of -1.75%, albeit to a lesser extent compared to 2020. Overall, the fluctuating pretax margins highlight the company's varying profitability and financial performance over the period under review.
Peer comparison
Dec 31, 2023