DVNDevon Energy
- Headquarters
- Houston, TX
- CEO
- Clay M. Gaspar
- Next results
- around Feb 16, 2027
What the 10-K filed 2026-02-18 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-19.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
“For the year ended December 31, 2025 and the year ended December 31, 2024, no customer accounted for more than 10% of Devon's sales revenue.”
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“For the year ended December 31, 2023, sales to two customers accounted for approximately 14% and 10% of Devon's sales revenue.”
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Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
No specific sentence about this in the 10-K.
Lawsuits and legal claims
Pending cases, settlements and what the company has set aside for them.
“The State of Delaware has filed legal proceedings against numerous oil and gas companies, including Devon, seeking relief to abate alleged impacts of climate change.”
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Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
No specific sentence about this in the 10-K.
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“This covenant requires us to maintain a ratio of total funded debt to total capitalization, as defined in the credit agreement, of no more than 65%.”
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“As of December 31, 2025, we were in compliance with this covenant with a 24.8% debt-to-capitalization ratio.”
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“This covenant requires Devon's ratio of total funded debt to total capitalization, as defined in the credit agreement, to be no greater than 65%.”
Read it in the 10-K ↗
“As of December 31, 2025, Devon was in compliance with this covenant with a debt-to-capitalization ratio of 24.8%.”
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Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
“(1)Total costs incurred under take-or-pay and throughput obligations were approximately $700 million, $800 million and $750 million in 2025, 2024 and 2023, respectively.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on DVN in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/DVN/export.csv") into a cell.