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Side-by-side financial comparison of Devon Energy (DVN) and Freeport-McMoRan (FCX). Click either name above to swap in a different company.
Freeport-McMoRan is the larger business by last-quarter revenue ($5.3B vs $3.9B, roughly 1.3× Devon Energy). Devon Energy runs the higher net margin — 14.3% vs 10.7%, a 3.5% gap on every dollar of revenue. On growth, Freeport-McMoRan posted the faster year-over-year revenue change (-10.4% vs -12.3%). Devon Energy produced more free cash flow last quarter ($702.0M vs $-312.0M). Over the past eight quarters, Devon Energy's revenue compounded faster (2.6% CAGR vs -7.9%).
Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with operational headquarters in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its operations are in the Delaware Basin, Eagle Ford Group, and the Rocky Mountains.
Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona. The company is the world's largest producer of molybdenum, a major copper producer and operates the world's largest gold mine, the Grasberg mine in Papua, Indonesia.
DVN vs FCX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.9B | $5.3B |
| Net Profit | $562.0M | $565.0M |
| Gross Margin | — | 12.4% |
| Operating Margin | 19.0% | 15.4% |
| Net Margin | 14.3% | 10.7% |
| Revenue YoY | -12.3% | -10.4% |
| Net Profit YoY | -12.1% | -21.6% |
| EPS (diluted) | $0.90 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.9B | $5.3B | ||
| Q3 25 | $4.3B | $6.8B | ||
| Q2 25 | $4.0B | $7.5B | ||
| Q1 25 | $4.5B | $5.6B | ||
| Q4 24 | $4.5B | $5.9B | ||
| Q3 24 | $3.8B | $6.7B | ||
| Q2 24 | $3.9B | $6.4B | ||
| Q1 24 | $3.7B | $6.2B |
| Q4 25 | $562.0M | $565.0M | ||
| Q3 25 | $687.0M | $1.2B | ||
| Q2 25 | $899.0M | $1.5B | ||
| Q1 25 | $494.0M | $793.0M | ||
| Q4 24 | $639.0M | $721.0M | ||
| Q3 24 | $812.0M | $1.2B | ||
| Q2 24 | $844.0M | $1.3B | ||
| Q1 24 | $596.0M | $1.2B |
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 29.2% | ||
| Q2 25 | — | 34.2% | ||
| Q1 25 | — | 24.3% | ||
| Q4 24 | — | 27.0% | ||
| Q3 24 | — | 30.0% | ||
| Q2 24 | — | 31.5% | ||
| Q1 24 | — | 28.5% |
| Q4 25 | 19.0% | 15.4% | ||
| Q3 25 | 21.5% | 28.9% | ||
| Q2 25 | 28.7% | 32.3% | ||
| Q1 25 | 14.2% | 23.4% | ||
| Q4 24 | 18.7% | 21.1% | ||
| Q3 24 | 28.0% | 29.0% | ||
| Q2 24 | 26.7% | 32.0% | ||
| Q1 24 | 20.5% | 26.3% |
| Q4 25 | 14.3% | 10.7% | ||
| Q3 25 | 16.2% | 18.3% | ||
| Q2 25 | 22.2% | 20.6% | ||
| Q1 25 | 10.9% | 14.2% | ||
| Q4 24 | 14.2% | 12.3% | ||
| Q3 24 | 21.4% | 18.5% | ||
| Q2 24 | 21.7% | 20.0% | ||
| Q1 24 | 15.9% | 18.7% |
| Q4 25 | $0.90 | — | ||
| Q3 25 | $1.09 | $0.46 | ||
| Q2 25 | $1.41 | $0.53 | ||
| Q1 25 | $0.77 | $0.24 | ||
| Q4 24 | $0.98 | — | ||
| Q3 24 | $1.30 | $0.36 | ||
| Q2 24 | $1.34 | $0.42 | ||
| Q1 24 | $0.94 | $0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.4B | $3.8B |
| Total DebtLower is stronger | $8.4B | $9.4B |
| Stockholders' EquityBook value | $15.5B | $18.9B |
| Total Assets | $31.6B | $58.2B |
| Debt / EquityLower = less leverage | 0.54× | 0.50× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $3.8B | ||
| Q3 25 | $1.2B | $4.3B | ||
| Q2 25 | $1.7B | $4.5B | ||
| Q1 25 | $1.2B | $4.4B | ||
| Q4 24 | $811.0M | $3.9B | ||
| Q3 24 | $645.0M | $5.0B | ||
| Q2 24 | $1.1B | $5.3B | ||
| Q1 24 | $1.1B | $5.2B |
| Q4 25 | $8.4B | $9.4B | ||
| Q3 25 | $8.4B | — | ||
| Q2 25 | $8.9B | — | ||
| Q1 25 | $8.9B | $9.4B | ||
| Q4 24 | $8.9B | $8.9B | ||
| Q3 24 | $8.9B | $9.7B | ||
| Q2 24 | $6.1B | $9.4B | ||
| Q1 24 | $6.1B | $9.4B |
| Q4 25 | $15.5B | $18.9B | ||
| Q3 25 | $15.3B | $18.7B | ||
| Q2 25 | $15.1B | $18.2B | ||
| Q1 25 | $14.5B | $17.7B | ||
| Q4 24 | $14.5B | $17.6B | ||
| Q3 24 | $14.3B | $17.5B | ||
| Q2 24 | $12.6B | $17.4B | ||
| Q1 24 | $12.2B | $17.0B |
| Q4 25 | $31.6B | $58.2B | ||
| Q3 25 | $31.2B | $56.8B | ||
| Q2 25 | $31.4B | $56.5B | ||
| Q1 25 | $30.9B | $56.0B | ||
| Q4 24 | $30.5B | $54.8B | ||
| Q3 24 | $30.3B | $55.4B | ||
| Q2 24 | $25.2B | $54.6B | ||
| Q1 24 | $25.0B | $54.2B |
| Q4 25 | 0.54× | 0.50× | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.61× | 0.53× | ||
| Q4 24 | 0.61× | 0.51× | ||
| Q3 24 | 0.62× | 0.55× | ||
| Q2 24 | 0.49× | 0.54× | ||
| Q1 24 | 0.51× | 0.56× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.5B | $693.0M |
| Free Cash FlowOCF − Capex | $702.0M | $-312.0M |
| FCF MarginFCF / Revenue | 17.8% | -5.9% |
| Capex IntensityCapex / Revenue | 21.1% | 19.1% |
| Cash ConversionOCF / Net Profit | 2.73× | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | $3.1B | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $693.0M | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.7B | $1.4B | ||
| Q3 24 | $1.7B | $1.9B | ||
| Q2 24 | $1.5B | $2.0B | ||
| Q1 24 | $1.7B | $1.9B |
| Q4 25 | $702.0M | $-312.0M | ||
| Q3 25 | $820.0M | $608.0M | ||
| Q2 25 | $589.0M | $934.0M | ||
| Q1 25 | $1.0B | $-114.0M | ||
| Q4 24 | $738.0M | $197.0M | ||
| Q3 24 | $786.0M | $673.0M | ||
| Q2 24 | $587.0M | $840.0M | ||
| Q1 24 | $844.0M | $642.0M |
| Q4 25 | 17.8% | -5.9% | ||
| Q3 25 | 19.3% | 8.9% | ||
| Q2 25 | 14.6% | 12.4% | ||
| Q1 25 | 22.2% | -2.0% | ||
| Q4 24 | 16.4% | 3.4% | ||
| Q3 24 | 20.7% | 10.1% | ||
| Q2 24 | 15.1% | 13.1% | ||
| Q1 24 | 22.6% | 10.3% |
| Q4 25 | 21.1% | 19.1% | ||
| Q3 25 | 20.5% | 15.5% | ||
| Q2 25 | 23.6% | 16.8% | ||
| Q1 25 | 20.5% | 21.0% | ||
| Q4 24 | 20.6% | 21.1% | ||
| Q3 24 | 23.1% | 17.9% | ||
| Q2 24 | 24.3% | 17.4% | ||
| Q1 24 | 23.9% | 20.2% |
| Q4 25 | 2.73× | 1.23× | ||
| Q3 25 | 2.46× | 1.33× | ||
| Q2 25 | 1.72× | 1.42× | ||
| Q1 25 | 3.93× | 1.33× | ||
| Q4 24 | 2.60× | 1.99× | ||
| Q3 24 | 2.05× | 1.51× | ||
| Q2 24 | 1.82× | 1.53× | ||
| Q1 24 | 2.92× | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DVN
| Oil Gas And NGL Sales | $2.6B | 65% |
| Marketing And Midstream Revenues | $1.4B | 35% |
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
