Short answer
Devon Energy (DVN) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $16.8B (+5.4% year over year) and net income of $2.6B.
- Top risk flagged: Regulatory risk from EPA methane rules OOOOb and OOOOc finalized Dec 2023, requiring 95% emissions reduction and leak detection enhancements
FY2025 key financial metrics · XBRL
- Revenue
- $16.8B
- +5.4% YoY
- Net income
- $2.6B
- −8.6% YoY
- EPS (diluted)
- $4.17
- −8.6% YoY
- ROE
- 17.0%
- −2.9 pp YoY
- Operating cash flow
- $6.7B
- +1.7% YoY
Source: XBRL data from the Devon Energy (DVN) FY2025 10-K on SEC EDGAR. USD.
Devon Energy FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Exploration and production of oil and natural gas
- New emphasis on comprehensive cybersecurity Program aligned with NIST Framework, including third-party vendor risk assessments
- Strategic integration of cybersecurity into enterprise-wide risk management with Board and Audit Committee oversight
- Digital Security team’s Manager with 15+ years’ experience leads weekly threat review meetings
- No material cybersecurity incidents reported, despite some events involving Company and service providers
Management Discussion & Analysis
- Revenue and core earnings 2025: Core earnings $2,520M vs $3,105M in 2024, down $585M YoY
- Operating margin indicators: EBITDAX $7,413M (2025) vs $7,739M (2024), down 4.3% YoY; Field-level cash margin $7,656M (2025) vs $7,993M (2024)
- Best segment performance: No explicit segment data given; 2025 asset dispositions negatively impacted core earnings by $266M
- Cash flow and capital allocation: No specific capex, buybacks, or dividend amounts disclosed in section
- Forward outlook and risks: No explicit forward guidance or risk factors mentioned in provided text
Risk Factors
- Regulatory risk from EPA methane rules OOOOb and OOOOc finalized Dec 2023, requiring 95% emissions reduction and leak detection enhancements
- Geopolitical risk from Russia-Ukraine conflict impacting oil and gas prices and supply, with exposure in Delaware Basin operations
- Operational risk from midstream capacity constraints causing potential production curtailments and requiring alternative takeaway arrangements
- Competitive risk from larger integrated oil companies with superior resources potentially disadvantaging bids for assets and capital
- Financial risk from reliance on capital markets to fund reserve acquisitions, with no assurance of future capital availability on acceptable terms
Generated from the filing text; verify against the original. How to read a 10-K
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