Devon Energy Corporation (DVN) vs Targa Resources Corp. (TRGP)
A side-by-side comparison of Devon Energy Corporation and Targa Resources Corp. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 3, 2026. Differences are shown without an overall score or investment verdict.
DVN
Devon Energy Corporation
$47.65EnergyDelayed quote: Oct 2, 2026, 4:00 PM EDT
TRGP
Targa Resources Corp.
$281.74EnergyDelayed quote: Oct 2, 2026, 4:00 PM EDT
Total return — DVN vs TRGP
growth of $100 · dividends reinvested · last 10yDVN +66.0% (+5.2%/yr)TRGP +771.6% (+24.2%/yr)TRGP compounded faster over this window
Log scale — wide-divergence pair
DVN TRGP
DVN vs TRGP: by the numbers
- •TRGP is the larger company ($60.47B vs $52.41B market cap).
- •DVN trades at the lower trailing earnings multiple (11.32 vs 26.83 P/E), one valuation lens rather than an overall verdict.
- •DVN converts more revenue to profit (16.67% vs 13.49% net margin).
- •DVN grew revenue faster over the past five years (23.63% vs 6.56% CAGR).
- •DVN pays the higher dividend yield (2.35% vs 1.60%).
Metrics side by side
Valuation
| Metric | DVN | TRGP |
|---|---|---|
| P/E ratio | 11.32 | 26.83 |
| Forward P/E | 9.14 | 25.00 |
| P/S ratio | 2.66 | 3.60 |
| P/B ratio | 1.26 | 16.54 |
| EV / EBITDA | 7.19 | 14.54 |
| FCF yield | 3.19% | 1.23% |
Profitability
| Metric | DVN | TRGP |
|---|---|---|
| Gross margin | 25.55% | 26.51% |
| Operating margin | 23.86% | 23.13% |
| Net margin | 16.67% | 13.49% |
| ROE | 7.86% | 61.94% |
| ROIC | 5.61% | 14.09% |
Dividends
| Metric | DVN | TRGP |
|---|---|---|
| Dividend yield | 2.35% | 1.60% |
| Payout ratio | 26.60% | 42.86% |
Growth (annualized)
| Metric | DVN | TRGP |
|---|---|---|
| Revenue CAGR (5Y) | 23.63% | 6.56% |
| FCF CAGR (5Y) | 8.72% | -16.03% |
| Total return CAGR (5Y) | 10.42% | 43.85% |
Frequently asked
- Which has the lower trailing P/E, DVN or TRGP?
- DVN has the lower trailing P/E: DVN trades at 11.32 and TRGP at 26.83. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, DVN or TRGP?
- Over the past five years, DVN grew revenue faster — DVN at a 23.63% CAGR versus TRGP at 6.56%.
- Does DVN or TRGP pay a bigger dividend?
- DVN yields 2.35% and TRGP yields 1.60% based on trailing dividends and the latest price.
- Is DVN or TRGP more profitable?
- DVN runs the higher net margin — DVN at 16.67% versus TRGP at 13.49%.
- How have DVN and TRGP total returns compared?
- Over the past 10 years, DVN delivered 4.58% and TRGP delivered 24.11% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Devon Energy P/E ratioTarga Resources P/E ratioDevon Energy dividend yieldTarga Resources dividend yieldDevon Energy ROETarga Resources ROEDevon Energy operating marginTarga Resources operating marginDevon Energy revenue growthTarga Resources revenue growthDevon Energy free cash flowTarga Resources free cash flow
Devon Energy & Targa Resources appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 3, 2026.