DVN

Devon Energy Corp/de Energy Crude Petroleum & Natural Gas S&P 500Russell 3000

$52.15Close $32.4BMarket cap $31.42 – $52.1552-week range Nov 5, 2026Next report · after the close

Stage 2 Leader 25th of 68

Highlights

Strengths

In a stage-2 uptrend all 8 trend conditions pass
Leading the market RS 83 · stronger than 83% of stocks over 12 months
Near its high at its 52-week high
Earnings growing EPS +44% year on year, faster than the quarter before (+118 pts)

Cautions

Results soon Nov 5, 2026, in 4 days

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Aug 5, 2026

Off 12-month high 0%

1wk 1.5% price change

1mo 13.3% price change

12-month return 66% market up 11% · its own up 55%

F-score — — Not assessed

Altman Z″ 2.89 Low risk

P/E 12.3× price / earnings

PEG — P/E / EPS growth

P/B 2.1× price / book

Earnings yield 10.3% EBIT / enterprise value

Cheaper than 83% of the market · markedly cheap

Revenue growth 5% year on year

EPS growth 44% latest quarter · +118 pts

Sales growth 73% latest quarter · +74 pts

ROE 18% return on equity

Free cash margin 19% $3.1B FCF

D/E 0.48 long-term debt / equity

Net debt / EBITDA 0.8×

Interest cover 8.0×EBIT / interest

Piotroski tests

Repair signals

Long-term debt down 12% ($8.4B → $7.4B)

Trade setup

ATR% 2.6% $1.37 a day · 2×ATR $49.41

RS 83 / 99 vs the universe

Trend 8 / 8 trend template

Relative volume 0.9× vs 50-day average

Up/down volume 0.97 50 sessions

Implied move 5.6% by Nov 6, 2026 · report Nov 5, 2026

Trend template · 8 of 8

Screen verdict

1 of 3 screens

Stage 2 Leader in mixed conditions
- RS 83
- Trend 8/8
- Off 12-month high 0%
- EPS growth +44% (accel +118 pts)
- Sales growth +73% (accel +74 pts)
- Altman Z″ 2.89 (low risk)

Warning signs

none flagged

No restatement or impairment
Equity positive
Interest covered
No material dilution
Profits tracking cash
Margins and revenue not shrinking

Last reported Aug 4, 2026

Results reaction Aug 4, 2026-7% vs market2 sessions after results

Options $3.9M42.5% IV · activity

Financials

6 fiscal years · from filings

Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $16.8B +5% on FY2024

Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $2.6B -9% on FY2024

Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology $3.1B +6% on FY2024

Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology

Net 16%
Free cash 19%

Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $6.0B net debt

Cash
Long-term debt

Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 622m +62.8% since FY2020

	FY2020Dec 31, 2020	FY2021Dec 31, 2021	FY2022Dec 31, 2022	FY2023Dec 31, 2023	FY2024Dec 31, 2024	FY2025Dec 31, 2025
Revenue	$4.7B	$13.8B	$19.8B	$15.1B	$15.9B	$16.8B
Net income	-$2.7B	$2.8B	$6.0B	$3.7B	$2.9B	$2.6B
Net margin	-57%	20%	30%	25%	18%	16%
Earnings per share	-$7.11	$4.22	$9.24	$5.82	$4.56	$4.17
Free cash flow	$311.0M	$2.9B	$6.0B	$2.7B	$3.0B	$3.1B
Free cash margin	7%	21%	30%	18%	19%	19%
Cash	$2.0B	$2.1B	$1.3B	$853.0M	$811.0M	$1.4B
Long-term debt	$4.3B	$6.5B	$6.2B	$5.7B	$8.4B	$7.4B
Shareholders' equity	$2.9B	$9.3B	$11.2B	$12.1B	$14.5B	$15.5B
Shares outstanding	382m	663m	653m	636m	651m	622m

Next report

Nov 5, 2026 · after the close

Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology ±5.6% $49 – $55 by Nov 6, 2026

Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology ±3.0% last 4: -5.6% · -9.1% · -0.5% · -0.4%

Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology Bigger than usual 1.8× the usual move

What options price now

Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology: $48 – $57 ±8.8% by Nov 27, 2026
Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology: Bigger 42.5% priced · 25.9% recent
Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology: Choppier
Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology: past week: costs more

Positioning

Premium traded: $3.9M calls $2.7M · puts $1.1M · latest session
Puts against calls, by premium Money spent on puts divided by money spent on calls. Measured in dollars rather than contracts on purpose: counting contracts treats a hundred cheap lottery tickets as more meaningful than one large position, which is backwards. Methodology: 0.42× +0.21 over the week
Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology: calls -1.13k · puts +3.26k past week

For options traders: ATM IV 42.5% (+1.6% 1w) · 1m ÷ 3m IV 1.13 · 25Δ skew -0.7 pts · Net GEX $30.8M

Most traded contracts 1

Contract	Next day: opened, closed or mixed A large option trade on its own is ambiguous: it may have opened a position, closed one, or been one leg of a spread. Open interest is published overnight, so the next morning settles it. Opened: open interest rose by a good share of the volume traded, so positions were added. Closed: it fell, so positions were taken off. Mixed: it barely moved, as when one side opens while the other closes. A dash: the next morning's count is not in yet. None of the three says whether the contracts were bought or sold. Methodology	Volume against open interest The day's contracts traded, divided by the positions already standing. Above 1 the day's trading exceeded every position in existence, which cannot happen without something new — though only tomorrow's open interest proves it opened rather than closed. Methodology	Bid-ask spread The gap between the bid and the ask as a share of the midpoint: what a round trip costs before the position has moved at all. Methodology	Priced vs rest of chain The contract's implied volatility less the at-the-money reading for the same company, in points: how this strike is priced against the rest of the chain. Methodology	Move to break even How far the stock must move by expiry for a buyer at the midpoint to get the premium back: strike plus premium for a call, strike less premium for a put. Methodology	Premium
Dec 18, 2026 · $55 call +6% from price	—	0.02	3.8%	-3.8%	+9.1%	$174,378

Liquid contracts, 3 weeks to 4 months out, soonest expiry first.

Filings

SEC EDGAR

Filed	Report	Period to	Lag
Aug 5, 2026	Quarterly ↗	Jun 30, 2026	36d
May 6, 2026	Quarterly ↗	Mar 31, 2026	36d
Feb 18, 2026	Annual ↗	Dec 31, 2025	49d
Nov 6, 2025	Quarterly ↗	Sep 30, 2025	37d
Aug 6, 2025	Quarterly ↗	Jun 30, 2025	37d
May 7, 2025	Quarterly ↗	Mar 31, 2025	37d
Feb 19, 2025	Annual ↗	Dec 31, 2024	50d
Nov 6, 2024	Quarterly ↗	Sep 30, 2024	37d
Aug 7, 2024	Quarterly ↗	Jun 30, 2024	38d
May 2, 2024	Quarterly ↗	Mar 31, 2024	32d
Feb 28, 2024	Annual ↗	Dec 31, 2023	59d
Nov 8, 2023	Quarterly ↗	Sep 30, 2023	39d

Current reports

Filed	Disclosed
Oct 8, 2026	Regulation FD · Other events ↗
Aug 27, 2026	Director or officer change ↗
Aug 20, 2026	Director or officer change ↗
Aug 4, 2026	Results ↗
Jun 30, 2026	Shareholder vote ↗
Jun 25, 2026	Material agreement · New obligation · Other events ↗
Jun 5, 2026	Other events ↗
May 22, 2026	Other events ↗
May 21, 2026	Regulation FD · Other events ↗
May 7, 2026	Acquisition or disposal · Director or officer change · Charter or bylaws · Regulation FD ↗
May 5, 2026	Results ↗
May 5, 2026	Shareholder vote ↗