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Side-by-side financial comparison of Devon Energy (DVN) and PG&E Corporation (PCG). Click either name above to swap in a different company.
PG&E Corporation is the larger business by last-quarter revenue ($6.9B vs $3.9B, roughly 1.7× Devon Energy). Devon Energy runs the higher net margin — 14.3% vs 12.9%, a 1.4% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs -12.3%). Over the past eight quarters, PG&E Corporation's revenue compounded faster (7.2% CAGR vs 2.6%).
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.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
DVN vs PCG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.9B | $6.9B |
| Net Profit | $562.0M | $885.0M |
| Gross Margin | — | — |
| Operating Margin | 19.0% | 21.4% |
| Net Margin | 14.3% | 12.9% |
| Revenue YoY | -12.3% | 15.0% |
| Net Profit YoY | -12.1% | 39.6% |
| EPS (diluted) | $0.90 | $0.39 |
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.
| Q1 26 | — | $6.9B | ||
| Q4 25 | $3.9B | $6.8B | ||
| Q3 25 | $4.3B | $6.3B | ||
| Q2 25 | $4.0B | $5.9B | ||
| Q1 25 | $4.5B | $6.0B | ||
| Q4 24 | $4.5B | $6.6B | ||
| Q3 24 | $3.8B | $5.9B | ||
| Q2 24 | $3.9B | $6.0B |
| Q1 26 | — | $885.0M | ||
| Q4 25 | $562.0M | $670.0M | ||
| Q3 25 | $687.0M | $850.0M | ||
| Q2 25 | $899.0M | $549.0M | ||
| Q1 25 | $494.0M | $634.0M | ||
| Q4 24 | $639.0M | $674.0M | ||
| Q3 24 | $812.0M | $579.0M | ||
| Q2 24 | $844.0M | $524.0M |
| Q1 26 | — | 21.4% | ||
| Q4 25 | 19.0% | 18.0% | ||
| Q3 25 | 21.5% | 19.3% | ||
| Q2 25 | 28.7% | 18.6% | ||
| Q1 25 | 14.2% | 20.4% | ||
| Q4 24 | 18.7% | 15.4% | ||
| Q3 24 | 28.0% | 17.3% | ||
| Q2 24 | 26.7% | 18.9% |
| Q1 26 | — | 12.9% | ||
| Q4 25 | 14.3% | 9.8% | ||
| Q3 25 | 16.2% | 13.6% | ||
| Q2 25 | 22.2% | 9.3% | ||
| Q1 25 | 10.9% | 10.6% | ||
| Q4 24 | 14.2% | 10.2% | ||
| Q3 24 | 21.4% | 9.7% | ||
| Q2 24 | 21.7% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $0.90 | $0.29 | ||
| Q3 25 | $1.09 | $0.37 | ||
| Q2 25 | $1.41 | $0.24 | ||
| Q1 25 | $0.77 | $0.28 | ||
| Q4 24 | $0.98 | $0.30 | ||
| Q3 24 | $1.30 | $0.27 | ||
| Q2 24 | $1.34 | $0.24 |
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 | — |
| Total DebtLower is stronger | $8.4B | — |
| Stockholders' EquityBook value | $15.5B | — |
| Total Assets | $31.6B | — |
| Debt / EquityLower = less leverage | 0.54× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $713.0M | ||
| Q3 25 | $1.2B | $404.0M | ||
| Q2 25 | $1.7B | $494.0M | ||
| Q1 25 | $1.2B | $2.0B | ||
| Q4 24 | $811.0M | $940.0M | ||
| Q3 24 | $645.0M | $895.0M | ||
| Q2 24 | $1.1B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $8.4B | $57.4B | ||
| Q3 25 | $8.4B | — | ||
| Q2 25 | $8.9B | — | ||
| Q1 25 | $8.9B | — | ||
| Q4 24 | $8.9B | $53.6B | ||
| Q3 24 | $8.9B | — | ||
| Q2 24 | $6.1B | — |
| Q1 26 | — | — | ||
| Q4 25 | $15.5B | $32.5B | ||
| Q3 25 | $15.3B | $32.0B | ||
| Q2 25 | $15.1B | $31.2B | ||
| Q1 25 | $14.5B | $30.7B | ||
| Q4 24 | $14.5B | $30.1B | ||
| Q3 24 | $14.3B | $26.8B | ||
| Q2 24 | $12.6B | $26.3B |
| Q1 26 | — | — | ||
| Q4 25 | $31.6B | $141.6B | ||
| Q3 25 | $31.2B | $138.2B | ||
| Q2 25 | $31.4B | $136.4B | ||
| Q1 25 | $30.9B | $135.4B | ||
| Q4 24 | $30.5B | $133.7B | ||
| Q3 24 | $30.3B | $132.3B | ||
| Q2 24 | $25.2B | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.54× | 1.76× | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | 0.61× | 1.78× | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.49× | — |
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 | — |
| Free Cash FlowOCF − Capex | $702.0M | — |
| FCF MarginFCF / Revenue | 17.8% | — |
| Capex IntensityCapex / Revenue | 21.1% | — |
| Cash ConversionOCF / Net Profit | 2.73× | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.9B | $2.8B | ||
| Q4 24 | $1.7B | $1.9B | ||
| Q3 24 | $1.7B | $3.1B | ||
| Q2 24 | $1.5B | $711.0M |
| Q1 26 | — | — | ||
| Q4 25 | $702.0M | $-1.2B | ||
| Q3 25 | $820.0M | $-80.0M | ||
| Q2 25 | $589.0M | $-2.0B | ||
| Q1 25 | $1.0B | $213.0M | ||
| Q4 24 | $738.0M | $-896.0M | ||
| Q3 24 | $786.0M | $526.0M | ||
| Q2 24 | $587.0M | $-1.6B |
| Q1 26 | — | — | ||
| Q4 25 | 17.8% | -17.6% | ||
| Q3 25 | 19.3% | -1.3% | ||
| Q2 25 | 14.6% | -34.0% | ||
| Q1 25 | 22.2% | 3.6% | ||
| Q4 24 | 16.4% | -13.5% | ||
| Q3 24 | 20.7% | 8.9% | ||
| Q2 24 | 15.1% | -26.5% |
| Q1 26 | — | — | ||
| Q4 25 | 21.1% | 46.4% | ||
| Q3 25 | 20.5% | 46.9% | ||
| Q2 25 | 23.6% | 52.0% | ||
| Q1 25 | 20.5% | 44.0% | ||
| Q4 24 | 20.6% | 42.6% | ||
| Q3 24 | 23.1% | 43.8% | ||
| Q2 24 | 24.3% | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.73× | 2.93× | ||
| Q3 25 | 2.46× | 3.35× | ||
| Q2 25 | 1.72× | 1.93× | ||
| Q1 25 | 3.93× | 4.49× | ||
| Q4 24 | 2.60× | 2.87× | ||
| Q3 24 | 2.05× | 5.41× | ||
| Q2 24 | 1.82× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
