Devon Energy (BSP:D1VN34) ROCE % : 28.48% (As of Dec. 2023)

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What is Devon Energy ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Devon Energy's annualized ROCE % for the quarter that ended in Dec. 2023 was 28.48%.

Devon Energy ROCE % Historical Data

The historical data trend for Devon Energy's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Devon Energy ROCE % Chart

Devon Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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1.07

-31.67

25.63

40.77

22.89

Devon Energy Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															32.35	25.54	18.62	22.60	28.48

Devon Energy ROCE % Calculation

Devon Energy's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	24459.802	/	( ( (124426.133 - 16286.967)	+	(119996.102 - 14449.51) )	/ 2 )
	=	24459.802	/	( (108139.166	+	105546.592)	/ 2 )
	=	24459.802	/	106842.879
	=	22.89 %

Devon Energy's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	29731.988	/	( ( (119719.027 - 16445.871)	+	(119996.102 - 14449.51) )	/ 2 )
	=	29731.988	/	( ( 103273.156	+	105546.592 )	/ 2 )
	=	29731.988	/	104409.874
	=	28.48 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Devon Energy (BSP:D1VN34) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Devon Energy ROCE % Related Terms

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Devon Energy (BSP:D1VN34) Business Description

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DVN:USA DVN:Mexico 1DY6:Italy DY6d:UK DY6:Germany DVN:Austria

Address

333 West Sheridan Avenue, Oklahoma, OK, USA, 73102-5015

Website

https://www.devonenergy.com

Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2022, Devon's proved reserves totaled 1.8 billion barrels of oil equivalent, and net production that year was 611 thousand boe/d, of which oil and natural gas liquids made up 73% of production, with natural gas accounting for the remainder.

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