DEVON ENERGY CORP/DE vs PEMBINA PIPELINE CORPORATION, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The multiples price their risk very differently: Pembina at 24 times earnings for contracted pipeline throughput, Devon at 11.8 for commodity-exposed shale production. Pembina's toll model earns 10.1% on equity against Devon's 14.7%, the producer's leverage to oil price beating the midstream operator's stability on returns. Pembina nets 21.8% of revenue, Devon 13.2%. Pembina runs debt-free, Devon carries 0.61 turns. Both yield solid free cash, 8.85% and 11.23%. The pair prices a Canadian pipeline against a US shale producer; Pembina's premium buys contracted cash-flow stability, Devon's discount reflects commodity risk, and Devon's higher return on equity is the compensation for taking that risk.
Comparison updated 2026-07-11.
| Metric | DVN | PBA |
|---|---|---|
| Price | $42.18 | $47.20 |
| Market cap | $26.1B | $27.4B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | -0.4% | -2.7% |
| P/E | 11.8 | 24.0 |
| P/B | 1.69 | 2.22 |
| P/S | 1.52 | 4.80 |
| EV/EBITDA | 9.4 | 13.2 |
| Revenue growth | +2.6% | +2.8% |
| Gross margin | — | 41.0% |
| Operating margin | — | 36.1% |
| Net margin | 13.2% | 21.8% |
| Return on equity | 14.7% | 10.1% |
| Return on assets | 7.0% | 4.8% |
| Return on invested capital | — | 12.9% |
| FCF yield | 11.2% | 8.8% |
| Dividend yield | 1.6% | — |
| Debt / equity | 0.61 | 0.00 |
| Current ratio | 1.01 | 0.61 |
| Altman Z (solvency) | 6.97 | 1.64 |
| Piotroski F (quality) | 8 / 9 | 5 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.