Revenue flow

Margins

Stage	DVN	% of rev	EOG	% of rev	Gap · A − B
Revenue	$6.9B	100.00%	$8.3B	100.00%	EOG ×1.21
Gross profit	$3.4B	48.89%	$7.1B	85.72%	EOG +36.8pp
Operating income	$1.4B	20.51%	$3.6B	43.17%	EOG +22.7pp
Pre-tax income	$1.3B	18.25%	$3.6B	42.90%	EOG +24.7pp
Net income	$1.0B	14.69%	$2.8B	33.48%	EOG +18.8pp

Stage	DVN	EOG	Gap · A − B
Revenue	$6.9B100.00%	$8.3B100.00%	EOG ×1.21
Gross profit	48.89%$3.4B	85.72%$7.1B	EOG +36.8pp
Operating income	20.51%$1.4B	43.17%$3.6B	EOG +22.7pp
Pre-tax income	18.25%$1.3B	42.90%$3.6B	EOG +24.7pp