Top line accelerating.
+10.0% YoY versus +2.8% prior. 3y CAGR −4.8%.
+10.0%We use cookies
MainRatios uses cookies for essential site functions. With your consent, we also use analytics cookies including session replay sampling (PostHog, Google Analytics) and advertising cookies (Google AdSense). You can reject non-essential cookies, including the "sale" or sharing of personal information under CCPA, and you may withdraw consent at any time (GDPR). See our Privacy Policy for details.
Energy · Market Cap: $28.2B
Fundamentals as of 2026-03-31
All analysis on this page is for educational purposes only and does not constitute financial advice. Fair values are model-based estimates. Always do your own research.
The Question
1 of 2 legendary models say BUY DVN — but Joel Greenblatt disagrees.
What would legendary investors pay for DVN?
These figures are not quotes or opinions from Buffett, Graham, Lynch or the other investors. They are our own estimates, computed by applying the intrinsic-value formulas each investor is known for to this company’s financials.
For educational purposes only. Not a recommendation to buy or sell securities.
Devon Energy Corporation's ROE and debt-to-equity are non-meaningful — large accumulated buybacks have driven stockholders' equity below zero, so the ratio denominators are uninterpretable. Operating margin and free cash flow are the better lenses here.
Financial story
Devon Energy Corporation's ROE and debt-to-equity are non-meaningful — large accumulated buybacks have driven stockholders' equity below zero, so the ratio denominators are uninterpretable. Operating margin and free cash flow are the better lenses here.
Bottom line: DVN is rated BUY by all 2 legendary models, 47% below avg fair value $81, but earns a C sector grade (54/100) in Energy. Whether the premium is justified depends on which lens you trust. Drill into the valuation breakdown and sector ranking for the full picture.
How does DVN compare?
DVN's earnings calendar and history are tracked in the financials tab. Specific dates depend on company-published guidance.
DVN is in the Energy sector. Sector ranking and peer comparison are in the sector tab.
1 of 2 legendary investor models rate DVN a BUY. Fair value estimates and full investor breakdown are in the valuation tab.
Average fair value across qualifying models: $81. See the per-investor fair-value table in the valuation tab.
DVN trades at 12.7x earnings. Sector context and per-investor signals are in the valuation tab.
DVN and FTI differ on P/E, ROE, and revenue growth. See the full DVN vs FTI compare matrix.
+10.0% YoY versus +2.8% prior. 3y CAGR −4.8%.
+10.0%Net margin 15.4% versus 18.6% prior (−3.1pp). Operating 22.0%.
15.4%P/E 12.3x — 54% above the 5y median of 8.0x. Forward 7.5x hints at EPS expansion next year.
12.3xSee exactly where DVN ranks
Sign in to unlock the full sector ranking — free.
Sign in to see the rankingDVN sits at #13 in Energy with a C grade (54/100).