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Diamondback Energy

FANG Nasdaq Oil & Gas Exploration & Production Financials FY2016–FY2025

Diamondback Energy's revenue rose 35.8% to $15.0 billion in fiscal 2025. Its operating margin was 8.4%, down from 39.7% a year earlier. It paid out $1.2 billion in dividends and buybacks. The diluted share count rose 35.4%.

Last close · Oct 23, 2026

$205.75

4.4%
Value it Compare
Revenue Total sales reported in the income statement.
$15.0B
35.8% vs prior year
Operating margin Operating income as a share of revenue.
8.4%
31.3 pts
Net income Profit after all expenses, interest and tax.
$1.7B
50.1%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
1.9%
7.6 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$57.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
39.1x
On $5.26 EPS (TTM)

About these figures. Total debt is the balance sheet's long-term debt plus its current debt line. Diamondback reports its capital spending in several lines (drilling and completions, midstream assets, acquisitions of property) with no total in the SEC's structured data, so capital spending and free cash flow are left blank.

What Diamondback Energy does

No business description yet.

Legal name
Diamondback Energy, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001539838-26-000010
0001539838

Revenue and margins

Diamondback Energy had $15.0B of revenue in fiscal 2025, up 35.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Diamondback Energy returned $1.2B to shareholders in fiscal 2025. The diluted share count rose 35.4%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Diamondback Energy yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$14.4B and divides by 289.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 39.1x · peers 9.9x · sector 16.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Diamondback Energy can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $654M$157M$582M$161M$104M
Debt incl. finance leases $6.7B$6.2B$6.6B$13.0B$14.5B
Net debt / EBITDA 1.1x0.8x1.0x1.8x2.3x
Debt / equity 0.6x0.4x0.4x0.3x0.4x
Interest coverage 20.1x42.3x28.7x32.6x5.2x
Current ratio 1.0x0.8x0.8x0.4x0.4x
Quick ratio 1.0x0.8x0.7x0.4x0.4x
Total assets $22.9B$26.2B$29.0B$67.3B$71.1B
Total liabilities $9.7B$10.5B$11.6B$27.4B$28.1B
Shareholders' equity $12.1B$15.0B$16.6B$37.7B$37.0B
Net debt (− = net cash) $6.0B$6.1B$6.1B$12.8B$14.4B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$1.9B

9 insiders

Of sales under plans

1%

$12.7M

DateInsiderTradeSharesPriceValueFiling
Oct 5, 2026 Charles Alvin MeloyDirector Sold plan 33,333 $183.74 $6.1M Form 4
Sep 16, 2026 Lyndal Greth10% owner Sold 9,079,675 $205.26 $1.9B Form 4
Sep 15, 2026 Matt ZmigroskyEVP, Chief Legal and Admin Off Sold 1,326 $212.56 $0.3M Form 4
Sep 15, 2026 Teresa L. DickEVP Accounting, Assist. Sec. Sold 5,000 $210.00 $1.1M Form 4
Sep 11, 2026 Travis D. SticeDirector Sold 75,000 $204.31 $15.3M Form 4
Aug 21, 2026 Mark Lawrence PlaumannDirector Sold 1,000 $210.58 $0.2M Form 4
Aug 20, 2026 Daniel N WessonExec. VP & COO Sold 7,500 $215.21 $1.6M Form 4
Aug 20, 2026 Hof Matthew Kaes Van'tChief Executive Officer, Director Sold 10,000 $214.66 $2.1M Form 4
Aug 14, 2026 Jere W Thompson IIICFO, Executive VP Sold 500 $204.14 $0.1M Form 4
Aug 14, 2026 Matt ZmigroskyEVP, Chief Legal and Admin Off Sold 2,500 $202.77 $0.5M Form 4
Aug 11, 2026 Hof Matthew Kaes Van'tChief Executive Officer, Director Sold 5,000 $202.46 $1.0M Form 4
Aug 3, 2026 Charles Alvin MeloyDirector Sold plan 33,333 $198.41 $6.6M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✕ ✕ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✕
F-score 4 / 84 / 84 / 8
Accruals ratio −10.1%−6.4%−10.3%
Altman Z'' 2.811.911.70

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Diamondback Energy FANG $57.9B 35.8% 8.4% — 1.9% 39.1x 4
Devon Energy DVN $48.3B 7.8% — 18.2% 13.0% 12.2x 5 Compare →
Woodside Energy WDS $45.3B −1.5% 30.0% — 7.1% — 4 Compare →
Expand Energy EXE $22.2B 186.3% 20.4% 15.2% 8.6% 8.1x 7 Compare →
Occidental Petroleum OXY $65.0B −1.9% — 19.0% 4.9% 9.9x 4 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $527M $1.2B $2.2B $4.0B $2.8B $6.8B $9.6B $8.4B $11.1B $15.0B
Operating income −$68.6M $605M $1.0B $695M −$5.5B $4.0B $6.5B $4.6B $4.4B $1.3B
Interest expense $41.1M $41.0M $87.0M $172M $197M $199M $154M $159M $135M $244M
Pretax income −$165M $497M $1.1B $362M −$5.8B $2.9B $5.7B $4.2B $4.5B $1.9B
Income tax $0.2M −$20.0M $168M $47.0M −$1.1B $631M $1.2B $912M $800M $327M
Net income −$165M $482M $846M $240M −$4.5B $2.2B $4.4B $3.1B $3.3B $1.7B
Diluted EPS −$2.20 $4.94 $8.06 $1.47 −$28.61 $12.24 $24.61 $17.34 $15.53 $5.73
Diluted shares 0.08B 0.10B 0.10B 0.16B 0.16B 0.18B 0.18B 0.18B 0.21B 0.29B
Cash flow
Cash from operations $332M $889M $1.6B $2.7B $2.1B $3.9B $6.3B $5.9B $6.4B $8.8B
Depreciation and amortization $178M $327M $623M $1.5B $1.3B $1.3B $1.3B $1.7B $2.9B $5.0B
Stock-based compensation $26.5M $26.0M $27.0M $48.0M $37.0M $51.0M $55.0M $54.0M $65.0M —
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $593M $98.0M $431M $1.1B $840M $959M $0.0M
Dividends paid $0.0M $0.0M $37.0M $112M $236M $312M $1.6B $1.4B $1.6B $1.2B
Dividends and buybacks $0.0M $0.0M $37.0M $705M $334M $743M $2.7B $2.3B $2.5B $1.2B
Balance sheet
Cash and short-term investments $1.7B $112M $215M $123M $104M $654M $157M $582M $161M $104M
Total debt $1.1B $1.5B $4.5B $5.4B $5.8B $6.7B $6.2B $6.6B $13.0B $14.5B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.8B $359M $925M $869M $602M $1.4B $1.4B $1.6B $2.1B $1.9B
Current liabilities $209M $577M $1.0B $1.3B $1.2B $1.4B $1.7B $2.1B $4.8B $4.6B
Inventory $2.0M $9.1M $37.0M $37.0M $33.0M $62.0M $67.0M $63.0M $116M $86.0M
Property and equipment, net $3.4B $7.3B $20.4B $21.8B $16.2B $20.6B $23.8B $26.7B $64.5B $68.6B
Total assets $5.3B $7.8B $21.6B $23.5B $17.6B $22.9B $26.2B $29.0B $67.3B $71.1B
Total liabilities $1.3B $2.2B $7.4B $8.6B $7.8B $9.7B $10.5B $11.6B $27.4B $28.1B
Shareholders' equity $3.7B $5.3B $13.7B $13.2B $8.8B $12.1B $15.0B $16.6B $37.7B $37.0B
Margins
Operating margin −13.0% 50.2% 46.5% 17.5% −194.7% 58.9% 67.5% 54.3% 39.7% 8.4%
EBITDA margin 20.8% 77.3% 75.1% 54.2% −148.1% 77.6% 81.4% 75.1% 65.5% 42.0%
Net margin −31.3% 40.0% 38.9% 6.1% −160.6% 32.1% 45.5% 37.4% 30.2% 11.1%
Returns
Return on capital −1.8% 11.6% 6.8% 3.1% −24.3% 18.0% 25.2% 15.9% 9.5% 1.9%
Return on capital employed −1.8% 9.8% 7.3% 3.2% −28.3% 21.2% 28.3% 17.8% 9.8% 2.0%
Return on equity −5.9% 10.8% 8.9% 1.8% −41.0% 20.9% 32.4% 19.9% 12.3% 4.5%
Return on assets −4.1% 7.4% 5.8% 1.1% −22.0% 10.8% 17.9% 11.4% 6.9% 2.4%
Growth
Revenue growth — 128.6% 80.6% 82.2% −29.0% 141.6% 41.9% −12.8% 31.6% 35.8%
Net income growth — — 75.5% −71.6% −1,982.1% — 101.0% −28.3% 6.2% −50.2%
EPS growth — — 63.2% −81.8% −2,046.3% — 101.1% −29.5% −10.4% −63.1%
Share count change 19.1% 30.1% 7.4% 56.2% −3.6% 11.8% −0.1% 2.0% 18.6% 35.4%
Financial health
Net debt / EBITDA −5.1x 1.5x 2.6x 2.4x — 1.1x 0.8x 1.0x 1.8x 2.3x
Debt / equity 0.3x 0.3x 0.3x 0.4x 0.7x 0.6x 0.4x 0.4x 0.3x 0.4x
Interest coverage −1.7x 14.8x 11.6x 4.0x −27.8x 20.1x 42.3x 28.7x 32.6x 5.2x
Current ratio 8.6x 0.6x 0.9x 0.7x 0.5x 1.0x 0.8x 0.8x 0.4x 0.4x
Quick ratio 8.6x 0.6x 0.9x 0.7x 0.5x 1.0x 0.8x 0.7x 0.4x 0.4x
Capital allocation
Stock comp / revenue 5.0% 2.2% 1.2% 1.2% 1.3% 0.8% 0.6% 0.6% 0.6% —
Quality scores
Piotroski F-score — 6.0 6.0 4.0 3.0 6.0 7.0 4.0 4.0 4.0
Altman Z'' 4.7 3.0 2.4 2.0 −1.7 2.3 3.3 2.8 1.9 1.7
Accruals ratio −12.3% −6.2% −4.9% −11.1% −32.3% −8.7% −7.9% −10.1% −6.4% −10.3%

Source: SEC EDGAR XBRL filings (CIK 0001539838). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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