Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Diversified Energy Co files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2023
FY2023
FY2024
FY2025
Revenue
1,008
1,919
1,949
795
1,829
Gross profit
549
1,251
203
109
General and administrative
129
130
168
Operating expenses
840
854
1,294
Operating income
-467
-671
1,109
-97.1
535
Interest expense
50.6
101
131
137
210
Other non-operating income
0.39
2.34
3.27
Pre-tax income
-551
-800
990
-248
301
Income tax
-226
-179
239
-145
-40.6
Net income to minority interests
0.3
4.81
1.68
1.27
0.78
Net income
-326
-625
749
-104
341
EBITDA
-299
-449
1,382
195
948
EPS, basic
-8.20
-14.82
15.87
-2.17
4.67
EPS, diluted
-8.20
-14.82
15.76
-2.17
4.58
Shares, basic (weighted)
47.2
48
73
Shares, diluted (weighted)
47.5
48
74.5
Balance sheet
FY2021
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
12.6
62.7
3.75
5.99
29.7
Receivables
234
408
Inventory
9.23
7.83
9.59
27.8
Other current assets
18.7
37.2
Total current assets
354
305
304
650
Property, plant and equipment
442
426
446
Lease right-of-use assets
26.9
28
30
3.21
3.78
Intangible assets
14.1
21.1
19.4
2.9
3.22
Other non-current assets
87.5
98.7
Total assets
3,831
3,474
3,957
6,169
Accounts payable
93.8
53.5
35
81.8
Accrued liabilities
95.4
194
Deferred revenue
172
240
Short-term debt
209
237
Total current liabilities
1,132
638
777
1,076
Long-term debt
1,495
2,715
Lease liabilities
18.2
19.6
20.6
1.8
1.61
Other non-current liabilities
44.2
76.8
Total liabilities
3,969
2,876
3,545
5,174
Total debt
1,498
1,325
1,495
2,715
Paid-in capital
1,053
1,208
1,146
1,492
Retained earnings
-1,134
-547
-759
-508
Other comprehensive income
-0.94
-0.58
Shareholders' equity
-153
586
400
984
Minority interests
15
12.6
11.9
10.9
Total equity
664
-190
538
412
995
Total liabilities and equity
3,831
3,474
3,957
6,169
Shares outstanding
50.6
77
Cash flow statement
FY2021
FY2023
FY2023
FY2024
FY2025
Net income
-325
-621
750
-103
342
Depreciation and amortization
168
222
273
292
413
Stock-based compensation
6.49
8.29
10.4
Deferred income tax
226
-128
-55.2
Change in receivables
107
-18.6
2.59
Change in payables
-38.3
-17.5
-17
Cash from operations
320
388
291
221
465
Capital expenditures
-74.3
-52.1
-185
Acquisitions
0
0
-330
Cash from investing
-628
-386
-247
-267
-820
Debt issued
1,728
2,588
1,537
1,845
3,173
Debt repaid
-1,433
-2,140
-1,548
-1,653
-2,433
Stock issued
214
0
157
0
Share buybacks
0
-22.9
0
-5.23
Dividends paid
-130
-143
-168
-83.9
-85
Cash from financing
319
-6.54
-67.4
58.4
448
Net change in cash
11.2
-5.23
-22.7
12.3
92.9
Free cash flow
217
169
280
Interest paid
117
123
201
Income taxes paid
10.9
26.3
8.26
11.4
3.48
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $13.40 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
14.7%
Operating income / revenue.
EBITDA margin
43.9%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-3.9%
Pre-tax income / revenue.
Net margin
4.9%
Net income / revenue.
FCF margin
24.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
35.7%
Cash from operations / revenue.
Return on equity (ROE)
11.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
1.2%
Net income / average total assets.
Return on invested capital (ROIC)
5.0%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
1.1%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
11.4%
Capital expenditures / revenue.
D&A / revenue
29.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
130.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-1.6%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y
386.2%
EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
110.6%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
6.2%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y
66.1%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
146.0%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
55.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
17.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
55.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.53x
Current assets / current liabilities.
Quick ratio
0.40x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.00x
(Cash + short-term investments) / current liabilities.
Debt / equity
4.15x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
45.9%
Total debt / total assets.
Liabilities / assets
88.8%
Total liabilities / total assets.
Net debt
$2.99B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
4.23x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
32.1%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.80
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$22.81
Revenue / diluted weighted shares.
FCF per share
$5.52
Free cash flow / diluted weighted shares.
Operating cash flow per share
$8.13
Cash from operations / diluted weighted shares.
Book value per share
$10.23
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Dividends paid / net income, when net income is positive.
Dividends / FCF
22.1%
Dividends paid / free cash flow, when free cash flow is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$1.03B
Share price x shares outstanding.
Enterprise value
$4.02B
Market cap + total debt - cash - short-term investments.
P/E
13.0x
Market cap / net income. Only when net income is positive.
P/S
0.64x
Market cap / revenue.
P/B
1.42x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.42x
Market cap / tangible book value, when positive.
P/FCF
2.63x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
1.79x
Market cap / cash from operations, when positive.
EV/Sales
2.49x
Enterprise value / revenue.
EV/EBIT
17.0x
Enterprise value / operating income, when both are positive.
EV/EBITDA
5.68x
Enterprise value / EBITDA, when both are positive.
EV/FCF
10.3x
Enterprise value / free cash flow, when both are positive.
FCF yield
38.0%
Free cash flow / market cap.
Earnings yield
7.7%
Net income / market cap (the inverse of P/E).
Dividend yield
8.4%
Dividends paid over the period / market cap.
Shareholder yield
8.4%
(Dividends paid + share buybacks) / market cap.
What was Diversified Energy Co's revenue in fiscal 2025?
Diversified Energy Co reported revenue of $1.83B for fiscal 2025, 130.1% higher than the year before.
Was Diversified Energy Co profitable in fiscal 2025?
Yes. Net income was $341.1M, a net margin of 18.6%.
How much free cash flow did Diversified Energy Co generate in fiscal 2025?
Cash from operations of $464.6M minus capital expenditures of $184.6M left free cash flow of $280.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.