Devon Energy (DVN) Return on Invested Capital [ROIC] (2009 - 2026)
Devon Energy (DVN) posted Return on Invested Capital [ROIC] of -3.52% for Q2 2026, up 2.90 percentage points from -6.42% a year earlier and up 5.11 percentage points from the prior quarter.
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Analysis
Devon Energy (DVN) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Devon Energy's Return on Invested Capital [ROIC] came in at -9.13%, down 3.98 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has declined for three consecutive years, though with a five-year change of +38.78 percentage points (FY2020 to FY2025).
- In prior years, Devon Energy's Return on Invested Capital [ROIC] was -5.15% in FY2024 (-6.33 pp), 1.19% in FY2023 (-11.07 pp), 12.26% in FY2022 (+10.54 pp) and 1.72% in FY2021 (+49.63 pp).
- The Q2 2026 figure stands as the highest quarterly Return on Invested Capital [ROIC] since Q3 2024.
- On a year-over-year basis, Return on Invested Capital [ROIC] increased in 1 of the last eight quarters, with an average year-over-year change of -3.90 percentage points.
- The strongest year-over-year quarter for Return on Invested Capital [ROIC] in the past five years was Q4 2021, with a gain of 53.17 percentage points; the weakest was Q3 2023, with a drop of 12.58 percentage points.
- According to Business Quant data, Return on Invested Capital [ROIC] for the three prior quarters was -8.63% (Q1 2026), -8.69% (Q4 2025) and -8.31% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 753.32 Bn | 716.53 Bn | - | 11.12% |
| 2 | Chevron | 460.83 Bn | 438.62 Bn | 33.45 Bn | -25.37% |
| 3 | Shell | 307.74 Bn | 238.48 Bn | 30.13 Bn | 13.05% |
| 4 | TotalEnergies SE | 204.79 Bn | 87.92 Bn | 61.77 Bn | 36.80% |
| 5 | Conocophillips | 181.17 Bn | 153.88 Bn | 12.81 Bn | 22.50% |
| 6 | Equinor Asa | 122.04 Bn | 36.56 Bn | - | 47.74% |
| 7 | Canadian Natural Resources | 114.63 Bn | 111.64 Bn | 8.84 Bn | - |
| 8 | Phillips 66 | 112.97 Bn | 101.96 Bn | 8.38 Bn | -181.46% |
| 9 | Eni Spa | 97.68 Bn | 47.86 Bn | - | 6.87% |
| 10 | Devon Energy | 56.52 Bn | 56.52 Bn | 5.54 Bn | -3.52% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -3.52% |
| Mar 31, 2026 | -8.63% |
| Dec 31, 2025 | -8.69% |
| Sep 30, 2025 | -8.31% |
| Jun 30, 2025 | -6.42% |
| Mar 31, 2025 | -5.96% |
| Dec 31, 2024 | -3.98% |
| Sep 30, 2024 | -1.15% |
| Jun 30, 2024 | -0.27% |
| Mar 31, 2024 | -0.33% |
| Dec 31, 2023 | 1.53% |
| Sep 30, 2023 | 1.09% |
| Jun 30, 2023 | 5.09% |
| Mar 31, 2023 | 10.10% |
| Dec 31, 2022 | 12.80% |
| Sep 30, 2022 | 13.67% |
| Jun 30, 2022 | 10.65% |
| Mar 31, 2022 | 6.35% |
| Dec 31, 2021 | 1.27% |
| Sep 30, 2021 | -5.87% |
API Access
Devon Energy Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=DVN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "DVN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=DVN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();