Key Performance Metrics

  • The review of Net Profit Margin witnessed a mixed trend. The Net Profit Margin improved from -5.68% in 2019 to 24.79% in 2023.
  • The average EBIT Margin for the period under analysis was 7.3%, with 2020 and 2022 performing the worst and best, respectively.
  • In the current year, Devon was able to cover its interest liabilities 16.01 times in the current year- compared to 2019 when it was 0.56 times.
  • The Capital turnover stood at 0.63 times in 2023 from 0.43 in 2019, implying a high performance on Assets of the business in relation to revenue.


  • The revenue of Devon has fluctuated year on year. The revenue decreased by 22.38% between 2019 and 2020 and then an increase of 82% was recorded between 2020 and 2021. There also occurred a decrease of 20.40% between 2022 and 2023 (the current period).
  • Devon’s performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.  


  • The company’s result in liquidity looks poor, as the current ratio decreased from 2:1 to 1.07:1 in the current year. Which implies that the company does not have enough assets to settle its current liabilities.

Capital Structure

  • Devon is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been fluctuating year on year. The gearing position of the company appears to be high as it stood at 100% in the current year.


Source: Devon Annual Report

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