Filing Flows › Devon Energy (DVN) › Q2 2026 › vs Q2 2025
Devon Energy (DVN) Q2 2026 vs Q2 2025 (year over year)
Devon Energy's revenue rose $3.1B (+73%) from $4.3B in Q2 2025 to $7.4B in Q2 2026. The biggest changes: Oil Gas and NGL Sales +$2.4B (+88%); Marketing and Midstream Revenues +$559M (+42%); Other revenues +$178M (+75%). Operating margin 32.1% against 27.1% (+5.0 pts).
Devon Energy, Q2 2026: revenue $7.4B (+73% year over year), operating margin 32.1%, net earnings $1.9B, operating cash flow $3.7B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 32.1% | 27.1% | +5.0 pts |
| Net margin | 25.8% | 21.4% | +4.4 pts |
| Free cash flow margin | 31.8% | 13.7% | +18.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Oil Gas and NGL Sales | $5.1B | $2.7B | $2.4B | +88% |
| Marketing and Midstream Revenues | $1.9B | $1.3B | $559M | +42% |
| Other revenues | $414M | $236M | $178M | +75% |
| Revenue | $7.4B | $4.3B | $3.1B | +73% |
| Operating profit | $2.4B | $1.2B | $1.2B | +105% |
| Costs & expenses | $5.0B | $3.1B | $1.9B | +61% |
| Pre-tax earnings | $2.4B | $1.2B | $1.2B | +105% |
| General & admin | $175M | $113M | $62.0M | +55% |
| Other operating costs | $4.9B | $3.0B | $1.8B | +61% |
| Net earnings | $1.9B | $917M | $994M | +108% |
| Income tax | $473M | $244M | $229M | +94% |
| Depreciation & amortization | $1.4B | $914M | $502M | +55% |
| Share-based compensation | $71.0M | $23.0M | $48.0M | +209% |
| Working capital & other | $276M | −$309M | $585M | — |
| Operating cash flow | $3.7B | $1.5B | $2.1B | +138% |
| Free cash flow (OCF − capex) | $2.4B | $589M | $1.8B | +300% |
| Capital expenditures | $1.3B | $956M | $362M | +38% |
Questions
How much did Devon Energy's revenue grow year over year in Q2 2026?
Devon Energy's revenue rose $3.1B (+73%) from $4.3B in Q2 2025 to $7.4B in Q2 2026.
What drove Devon Energy's revenue change in Q2 2026?
Oil Gas and NGL Sales +$2.4B (+88%); Marketing and Midstream Revenues +$559M (+42%); Other revenues +$178M (+75%).