Devon Energy Corporation (DVN)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	3,747,000	3,796,000	4,779,000	6,021,000	6,015,000	6,320,000	5,265,000	3,589,000	2,813,000	1,205,000	275,000	-651,000	-2,680,000	-3,220,000	-3,019,000	-1,854,000	-355,000	1,436,000	3,864,000	2,944,000
Total stockholders’ equity	US$ in thousands	12,061,000	11,639,000	11,021,000	10,977,000	11,167,000	10,873,000	10,090,000	9,300,000	9,262,000	8,924,000	8,399,000	8,353,000	2,885,000	3,023,000	3,227,000	3,919,000	5,802,000	6,542,000	6,994,000	7,857,000
ROE		31.07%	32.61%	43.36%	54.85%	53.86%	58.13%	52.18%	38.59%	30.37%	13.50%	3.27%	-7.79%	-92.89%	-106.52%	-93.55%	-47.31%	-6.12%	21.95%	55.25%	37.47%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $3,747,000K ÷ $12,061,000K
= 31.07%

Devon Energy Corp.'s return on equity (ROE) has shown fluctuations over the past eight quarters. The ROE ranged from a low of 31.07% in Q4 2023 to a high of 57.49% in Q3 2022. The ROE trend indicates a generally positive performance, with the company consistently maintaining ROE above 30% in most quarters. This suggests that Devon Energy Corp. is effectively generating profit from shareholder equity and efficiently utilizing its resources to create value. The substantial variation in ROE figures across quarters may be attributed to changes in the company's profitability, leverage, and asset management efficiency. Overall, the company's ROE performance reflects a strong financial position and effective management of shareholder funds, albeit with some periodic fluctuations.