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Matador Resources

MTDR NYSE Oil & Gas Exploration & Production Financials FY2016–FY2025

Matador Resources' revenue rose 5.5% to $3.7 billion in fiscal 2025. Its operating margin was 33.2%, down from 40.9% a year earlier. Free cash flow was $270 million. It paid out $219 million in dividends and buybacks, 81% of free cash flow. The diluted share count rose 0.4%.

Last close · Oct 23, 2026

$59.96

5.6%
Value it Compare
Revenue Total sales reported in the income statement.
$3.7B
5.5% vs prior year
Operating margin Operating income as a share of revenue.
33.2%
7.8 pts
Net income Profit after all expenses, interest and tax.
$759M
14.2%
Free cash flow Cash from operations minus capital spending.
$270M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$7.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
10.3x
On $5.83 EPS (TTM)

About these figures. Matador doesn't report a gross profit; the only cost of sales its filings tag is a small line for its midstream and purchased-oil business, so gross profit and gross margin are left blank. Matador's filings to 2021 tag its senior notes, its credit line and its midstream subsidiary's credit line separately, with no total (2018 and 2019 show the notes alone), so debt and debt-based ratios are left blank in every year, to keep the years comparable.

What Matador Resources does

No business description yet.

Legal name
Matador Resources Company
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001520006-26-000002
0001520006

Revenue and margins

Matador Resources had $3.7B of revenue in fiscal 2025, up 5.5% 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 $270M in fiscal 2025, 7.3% of revenue. Cash from operations minus capital spending.

Free cash flow
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

Matador Resources returned $219M to shareholders in fiscal 2025, 81% of free cash flow. The diluted share count rose 0.4%.

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

Value Matador Resources 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 — and divides by 124.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 10.3x · peers — · sector 17.4x.

Balance sheet

Cash, debt and the ratios that show how comfortably Matador Resources can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $48.1M$505M$52.7M$23.0M$15.3M
Interest coverage 10.6x26.2x10.0x8.4x5.9x
Current ratio 0.8x1.9x1.0x0.9x0.8x
Quick ratio 0.8x1.9x1.0x0.9x0.8x
Total assets $4.3B$5.6B$7.7B$10.9B$11.7B
Total liabilities $2.1B$2.2B$3.6B$5.4B$5.7B
Shareholders' equity $1.9B$3.1B$3.9B$5.1B$5.7B
Net debt (− = net cash) —————

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

$1.4M

6 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 27, 2026 Christopher P CalvertEVP and CFO Bought 2,500 $56.64 $0.1M Form 4
Aug 26, 2026 Joseph Wm ForanChairman and CEO, Director Bought 555 $54.49 $0.0M Form 4
Aug 17, 2026 Joseph Wm ForanChairman and CEO, Director Bought 400 $53.64 $0.0M Form 4
Aug 13, 2026 Joseph Wm ForanChairman and CEO, Director Bought 5,000 $51.44 $0.3M Form 4
Aug 12, 2026 Joseph Wm ForanChairman and CEO, Director Bought 10,000 $52.16 $0.5M Form 4
Aug 11, 2026 Joseph Wm ForanChairman and CEO, Director Bought 709 $51.68 $0.0M Form 4
Aug 10, 2026 Joseph Wm ForanChairman and CEO, Director Bought 3,130 $51.04 $0.2M Form 4
Aug 10, 2026 William Thomas ElsenerEVP, Reservoir Engineering Bought 850 $50.94 $0.0M Form 4
Jun 15, 2026 Robert Gaines BatyDirector Bought 500 $51.44 $0.0M Form 4
Jun 9, 2026 Glenn W StetsonEVP and COO Bought 500 $53.41 $0.0M Form 4
Jun 9, 2026 Joseph Wm ForanChairman and CEO, Director Bought 2,000 $53.07 $0.1M Form 4
Jun 8, 2026 Monika U EhrmanDirector Bought 362 $55.28 $0.0M 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 — / 9— / 9— / 9
Accruals ratio −15.4%−14.7%−14.8%
Altman Z'' 3.032.682.56

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
Matador Resources MTDR $7.4B 5.5% 33.2% 7.3% — 10.3x —
California Resources CRC $4.9B 14.7% 16.3% 14.8% 9.5% — 4 Compare →
Crescent Energy CRGY — 22.1% 6.4% — 2.3% — — Compare →
SM Energy SM $9.6B 17.3% 31.7% — 11.1% — 6 Compare →
Range Resources RRC $10.8B 28.9% — 18.9% 13.7% 12.6x 8 Compare →

10 years of figures

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

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $264M $544M $900M $984M $862M $1.7B $3.1B $2.8B $3.5B $3.7B
Operating income −$177M $161M $363M $236M −$522M $793M $1.8B $1.2B $1.4B $1.2B
Interest expense $28.2M $34.6M $41.3M $73.9M $76.7M $74.7M $67.2M $122M $172M $209M
Pretax income −$98.1M $130M $292M $159M −$599M $715M $1.7B $1.1B $1.3B $1.0B
Income tax −$1.0M −$8.2M −$7.7M $35.5M −$45.6M $74.7M $399M $186M $292M $173M
Net income −$97.4M $126M $274M $87.8M −$593M $585M $1.2B $846M $885M $759M
Diluted EPS −$1.07 $1.23 $2.41 $0.75 −$5.11 $4.91 $10.11 $7.05 $7.14 $6.09
Diluted shares 0.09B 0.10B 0.11B 0.12B 0.12B 0.12B 0.12B 0.12B 0.12B 0.12B
Cash flow
Cash from operations $134M $299M $609M $552M $478M $1.1B $2.0B $1.9B $2.2B $2.4B
Capital expenditure $454M $873M $1.5B $946M $722M $838M $1.1B $3.2B $3.9B $2.2B
Free cash flow −$320M −$574M −$896M −$394M −$244M $215M $915M −$1.4B −$1.7B $270M
Depreciation and amortization $122M $178M $265M $351M $362M $345M $466M $717M $974M $1.2B
Stock-based compensation $12.4M $16.7M $17.2M $18.5M $13.6M $9.0M $15.1M $13.7M $15.0M $18.3M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $75.8M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $55.8M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $14.6M $35.2M $77.2M $105M $163M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $14.6M $35.3M $77.2M $105M $219M
Balance sheet
Cash and short-term investments $213M $96.5M $64.5M $40.0M $57.9M $48.1M $505M $52.7M $23.0M $15.3M
Finance lease liabilities $0.0M $0.0M $0.0M $1.3M $0.9M $0.4M $1.3M $2.1M $2.3M $2.3M
Current assets $279M $257M $306M $279M $262M $371M $1.1B $716M $927M $817M
Current liabilities $170M $283M $330M $400M $291M $465M $576M $685M $995M $1.0B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $1.2B $1.9B $3.1B $3.7B $3.4B $3.9B $4.4B $7.0B $9.8B $10.7B
Total assets $1.5B $2.1B $3.5B $4.1B $3.7B $4.3B $5.6B $7.7B $10.9B $11.7B
Total liabilities $773M $888M $1.7B $2.1B $2.2B $2.1B $2.2B $3.6B $5.4B $5.7B
Shareholders' equity $690M $1.2B $1.7B $1.8B $1.3B $1.9B $3.1B $3.9B $5.1B $5.7B
Margins
Operating margin −67.0% 29.6% 40.4% 23.9% −60.5% 47.7% 57.5% 43.1% 40.9% 33.2%
EBITDA margin −20.9% 62.2% 69.9% 59.6% −18.5% 68.4% 72.8% 68.6% 68.7% 65.5%
Net margin −36.8% 23.1% 30.5% 8.9% −68.8% 35.2% 39.7% 30.1% 25.3% 20.5%
FCF margin −121.1% −105.4% −99.6% −40.1% −28.3% 13.0% 29.9% −48.5% −47.4% 7.3%
Returns
Return on capital employed −15.4% 10.2% 14.6% 6.9% −14.8% 22.1% 40.1% 20.1% 17.0% 12.0%
Return on equity −16.5% 13.6% 19.3% 5.0% −38.0% 36.6% 48.4% 24.1% 19.7% 14.1%
Return on assets −7.5% 7.0% 9.8% 2.3% −15.3% 14.7% 24.7% 12.7% 9.5% 6.7%
Growth
Revenue growth −16.9% 105.8% 65.3% 9.4% −12.4% 92.9% 83.9% −8.2% 24.9% 5.5%
Net income growth — — 117.9% −68.0% −775.8% — 107.6% −30.3% 4.6% −14.2%
EPS growth — — 95.9% −68.9% −781.3% — 105.9% −30.3% 1.3% −14.7%
FCF growth — — — — — — 325.0% −248.6% — —
Share count change 11.9% 12.4% 10.9% 3.0% −0.9% 2.7% 0.8% −0.1% 3.4% 0.4%
Financial health
Interest coverage −6.3x 4.7x 8.8x 3.2x −6.8x 10.6x 26.2x 10.0x 8.4x 5.9x
Current ratio 1.7x 0.9x 0.9x 0.7x 0.9x 0.8x 1.9x 1.0x 0.9x 0.8x
Quick ratio 1.7x 0.9x 0.9x 0.7x 0.9x 0.8x 1.9x 1.0x 0.9x 0.8x
Capital allocation
Capex / revenue 171.8% 160.4% 167.3% 96.2% 83.7% 50.4% 34.8% 115.0% 111.5% 58.3%
Stock comp / revenue 4.7% 3.1% 1.9% 1.9% 1.6% 0.5% 0.5% 0.5% 0.4% 0.5%
Payouts / FCF — — — — — 6.8% 3.9% — — 81.2%
Quality scores
Altman Z'' −0.8 1.1 1.6 1.1 −0.9 2.0 4.9 3.0 2.7 2.6
Accruals ratio −17.8% −9.6% −11.9% −12.3% −27.6% −11.8% −15.6% −15.4% −14.7% −14.8%

Source: SEC EDGAR XBRL filings (CIK 0001520006). 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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