Direct numerical simulations of stably stratified homogeneous turbulence, with and without mean shear, are used to investigate the three-dimensional structure, evolution and energetic significance of density overturns. Although the flow conditions are idealized, examination of the full-field simulation data provides insight into flow energetics and mixing which may assist in the interpretation of physical measurements, typically limited to one-dimensional vertical profiles. Overturns, defined here through the density field as contiguous regions of non-zero Thorpe displacement, are initially generated by the stirring action of coherent vortex structures present in the flow and further develop through merging with adjacent overturns. During this growth phase, overturns exhibit irregular spatial structure in unsheared flow and elongated structure with distinct orientation in shear flow. Although most of the available potential energy (APE) and buoyancy flux are associated with stable (non-overturning) regions in the flow, young overturns actively contribute to the flow energetics. In particular, overturn peripheries are sites of high levels of APE, buoyancy flux and diapycnal mixing. A collapse phase may follow the growth phase in the absence of adequately strong mean shear. During this phase, buoyancy gradually assumes control of the overturns and their vertical scale steadily decreases. The energetic significance of the overturns diminishes, although high APE and diapycnal mixing continue to occur near their boundaries. In the final phase of their evolution, overturns contribute negligibly to the energetics. The remaining overturns are characterized by a viscous–buoyant balance which maintains their vertical scale. The overturns eventually vanish due to homogenization of their internal density distribution by diffusion. Activity diagrams, sampled at different points of flow evolution, show significant variation in overturn Reynolds and Froude numbers which may have implications for vertical sampling of a turbulent event.