Devon Energy
Devon Energy returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
Operating income is unavailable in the extracted statements for this period.
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | — | — | 11.55% | 6.41% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | — | — | 15.13% | 7.15% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | — | — | 17.6% | 8.51% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | — | — | 18.35% | 8.84% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | — | — | 20.6% | 10.06% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | — | — | 20.88% | 9.98% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | — | — | 21.77% | 10.52% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | — | — | 26.27% | 12.49% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | — | — | 29.71% | 14.44% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | — | — | 28.93% | 13.84% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | — | — | 32.26% | 15.54% | — |
| FY 2023 Q3 | Sep 30, 2023 | — | — | — | 33.72% | 15.88% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | — | — | 45.27% | 20.53% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | — | — | 59.39% | 26.64% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | — | — | 58.89% | 26.89% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | — | — | 63.85% | 28.33% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | — | — | 56.95% | 24.34% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | — | — | 40.66% | 17% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | — | — | 46.32% | 18.19% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | — | — | 20.17% | 7.68% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | — | — | 4.73% | 1.81% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | — | — | -10.61% | -4.12% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | — | — | -61.7% | -22.68% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | — | — | -67.33% | -26.05% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | — | — | -59.07% | -22.36% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | — | — | -31.49% | -12.69% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | — | — | -4.74% | -2.13% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | — | — | 18.6% | 8.31% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | — | — | 51.49% | 16.87% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | — | — | 35.13% | 12.42% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | — | — | 33.23% | 12.3% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | — | — | 26.18% | 8.79% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | — | — | -2.83% | -0.75% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | — | — | 8.31% | 2.3% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | — | — | 11.83% | 3.2% | — |
| FY 2017 Q3 | Sep 30, 2017 | 10.75% | 9.08% | — | 23.89% | 5.7% | 3 pp |
| FY 2017 Q2 | Jun 30, 2017 | 15.35% | 13.79% | — | 39.4% | 8.56% | 7.7 pp |
| FY 2017 Q1 | Mar 31, 2017 | 5.46% | 5.28% | — | 4.95% | 1.16% | -2.2 pp |
| FY 2016 Q4 | Dec 31, 2016 | — | -11.69% | — | -50.89% | -11.91% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | -32.68% | — | -93.92% | -26.7% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | -52.09% | — | -125.58% | -37.33% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | -56.92% | — | -114% | -37.61% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | -58.44% | — | -101.12% | -36.06% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | -39.22% | — | -61.27% | -24.25% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | -18.36% | — | -31.63% | -12.66% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | -3.5% | — | -12.14% | -4.72% | — |
| FY 2014 Q4 | Dec 31, 2014 | 6.26% | 11.61% | — | 7.56% | 3.44% | -1.4 pp |
| FY 2014 Q3 | Sep 30, 2014 | 8.48% | 12.07% | — | 10.29% | 4.85% | 0.8 pp |
| FY 2014 Q2 | Jun 30, 2014 | 6.24% | 9.42% | — | 7.8% | 3.59% | -1.5 pp |
| FY 2014 Q1 | Mar 31, 2014 | 6% | 7.92% | — | 8.12% | 3.48% | -1.7 pp |
| FY 2013 Q4 | Dec 31, 2013 | — | 1.69% | — | -0.11% | -0.05% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | — | — | -2.8% | -1.38% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | — | — | -8.21% | -4.15% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | — | — | -9.3% | -4.6% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | 0.21% | — | -0.96% | -0.49% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | — | — | 3.07% | 1.58% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | — | — | 11.06% | 5.89% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | 22.73% | 12.13% | — |
| FY 2011 Q4 | Dec 31, 2011 | 9.75% | 14.77% | — | 23.13% | 12.71% | 2.1 pp |
| FY 2011 Q3 | Sep 30, 2011 | — | — | — | 23.94% | 13.27% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | — | — | 30.38% | 16.96% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | 20.86% | 11.57% | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | 26.13% | 14.53% | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | 27.95% | 15.52% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | 20.08% | 10.75% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · DVN, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.