Devon Energy Corporation (DVN)

Debt-to-assets ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	8,398,000	5,672,000	6,189,000	6,482,000	4,298,000
Total assets	US$ in thousands	30,489,000	24,490,000	23,721,000	21,025,000	9,912,000
Debt-to-assets ratio		0.28	0.23	0.26	0.31	0.43

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $8,398,000K ÷ $30,489,000K
= 0.28

The debt-to-assets ratio of Devon Energy Corporation has shown a declining trend over the past five years, from 0.43 as of December 31, 2020, to 0.28 as of December 31, 2024. This indicates that the company's level of debt relative to its total assets has decreased over the period, reflecting a potentially improving financial position and lower financial risk. A lower debt-to-assets ratio suggests that the company has been effective in reducing its reliance on debt financing and improving its asset base. This trend may be viewed positively by investors and creditors as it signifies a healthier balance sheet and improved financial stability for Devon Energy Corporation.