Diamondback Energy, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Diamondback Energy, Inc. 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	527	1,205	2,176	3,964	2,813	6,797	9,643	8,412	11,066	15,026
Selling, general and administrative	42.6	48	65	104	88	146	144	150	213	288
Operating income	-68.6	605	1,011	695	-5,476	4,001	6,508	4,570	4,396	1,266
Interest expense	41.1	41	87	172	197	199	154	159	135	244
Interest income			1	1	4	1	6	18	156	25
Other non-operating income	-96.1	-108	102	-333	-300	-1,094	-772	-322	105	608
Pre-tax income	-165	497	1,113	362	-5,776	2,907	5,736	4,248	4,501	1,874
Income tax	0.19	-20	168	47	-1,104	631	1,174	912	800	327
Net income to minority interests	0.13	35	99	75	-155	94	176	193	363	-117
Net income	-165	482	846	240	-4,517	2,182	4,386	3,143	3,338	1,664
EBITDA	109	932	1,634	2,149	-4,165	5,276	7,852	6,316	7,246	6,304
EPS, basic	-2.20	4.95	8.09	1.47	-28.61	12.24	24.61	17.34	15.53	5.73
EPS, diluted	-2.20	4.94	8.06	1.47	-28.61	12.24	24.61	17.34	15.53	5.73
Shares, basic (weighted)	75.1	97.5	105	163	158	177	177	180	214	289
Shares, diluted (weighted)	75.1	97.7	105	164	158	177	177	180	214	289
Dividend per share		0.00	0.50	0.94	1.53	1.95	11.31	7.99	8.29	4.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,667	112	215	123	104	654	157	582	161	104
Receivables	70.3	159	296	429	281	598	618	654	1,387	1,128
Inventory	1.98	9.11	37	37	33	62	67	63	116	86
Other current assets	2.99	5.43	50	24	23	28	23	110	3	7
Total current assets	1,792	359	925	869	602	1,446	1,392	1,621	2,110	1,915
Property, plant and equipment	3,391	7,344	20,372	21,835	16,214	20,619	23,759	26,674	64,472	68,621
Lease right-of-use assets			13	15
Intangible assets			11	8
Other non-current assets	44.6	62.5	85	90	45	76	42	131	710	523
Total assets	5,350	7,771	21,596	23,531	17,619	22,898	26,209	29,001	67,292	71,059
Accounts payable	47.6	94.6	128	179	71	36	127	261	253
Deferred revenue	23.4	68.7	143	278	237	452	619	764	1,491	1,397
Short-term debt				0	191	45	10	0	900	763
Total current liabilities	209	577	1,019	1,263	1,236	1,438	1,716	2,108	4,811	4,600
Long-term debt	1,106	1,477	4,464	5,371	5,624	6,642	6,238	6,641	12,075	13,726
Other non-current liabilities				11	7	40	12	12	718	625
Total liabilities	1,331	2,189	7,429	8,625	7,815	9,653	10,519	11,571	27,430	28,092
Total debt	1,106	1,477	4,464	5,371	5,624	6,642	6,238	6,641	12,075	13,726
Paid-in capital	4,216	5,291	12,936	12,357	12,656	14,084	14,213	14,142	33,501	32,236
Retained earnings	-519	-37.1	762	890	-3,864	-1,998	801	2,489	4,238	4,740
Other comprehensive income		0	-0.07			0	-7	-8	-6	-7
Shareholders' equity	3,697	5,255	13,700	13,249	8,794	12,088	15,009	16,625	37,736	36,972
Minority interests	321	327	467	1,657	1,010	1,157	681	805	2,126	5,995
Total equity	4,018	5,581	14,167	14,906	9,804	13,245	15,690	17,430	39,862	42,967
Total liabilities and equity	5,350	7,771	21,596	23,531	17,619	22,898	26,209	29,001	67,292	71,059
Shares outstanding	90.1	98.2	164	159	158	178	180	179	291	285

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-165	517	945	315	-4,672	2,276	4,562	3,336	3,701	1,547
Depreciation and amortization	178	327	623	1,454	1,311	1,275	1,344	1,746	2,850	5,038
Stock-based compensation	26.5	26	27	48	37	51	55	54	65
Deferred income tax	0	-20	168	47	-1,042	606	720	378	15	-519
Change in receivables	-35	-97	13	-187	217	-196	-47	-71	-42	386
Change in inventory	-0.26	-2	-14	-10
Change in payables	15.9	37	-7	-129	-20	-41	-47	57	-376	-343
Cash from operations	332	889	1,565	2,739	2,118	3,944	6,325	5,920	6,413	8,758
Cash from investing	-1,310	-3,132	-3,503	-3,888	-2,101	-1,539	-3,330	-3,323	-11,221	-7,809
Debt issued	1,000	0	1,062	3,469	997	2,200	2,500	5,179	9,875	15,042
Debt repaid		0	0	-1,250	-239	-3,193	-2,410	-4,802	-3,502	-13,467
Stock issued	2,052	370	305	1,106	0	0	0	0	476	1,232
Share buybacks		0	0	-593	-98	-431	-1,098	-840	-959
Dividends paid	0	0	-37	-112	-236	-312	-1,572	-1,444	-1,578	-1,156
Cash from financing	2,625	689	2,041	1,062	-37	-1,841	-3,503	-2,176	4,387	-1,007
Net change in cash	1,646	-1,554	103	-87	-20	564	-508	421	-421	-58
Interest paid	38.2	58	114	187	221	194	135	146	269	155
Income taxes paid	0.19	0	1	0		138	-718	-352	-605

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $186.67 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	6.3%	Operating income / revenue.
EBITDA margin	37.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	10.8%	Pre-tax income / revenue.
Net margin	8.6%	Net income / revenue.
Operating cash flow margin	59.3%	Cash from operations / revenue.
Effective tax rate	18.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	3.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.1%	Net income / average total assets.
Return on invested capital (ROIC)	1.8%	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%.
SG&A / revenue	1.7%	Selling, general and administrative expense / revenue.
D&A / revenue	30.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	35.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	15.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	39.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-71.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-42.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-13.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-7.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-50.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-27.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-63.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-38.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	36.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	11.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	32.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-51.7%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-29.3%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	21.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-2.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	35.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	33.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	39.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	32.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	35.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	17.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	12.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.47x	Current assets / current liabilities.
Quick ratio	0.38x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.08x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.29x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	15.8%	Total debt / total assets.
Liabilities / assets	37.4%	Total liabilities / total assets.
Net debt	$10.60B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.68x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$3.03B	Current assets - current liabilities.
Tangible book value	$37.90B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.24x	Revenue / average total assets.
Fixed asset turnover	0.26x	Revenue / average property, plant and equipment.
Receivables turnover	10.2x	Revenue / average receivables.
Days sales outstanding	36 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.22	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	$60.82	Revenue / diluted weighted shares.
Operating cash flow per share	$36.07	Cash from operations / diluted weighted shares.
Book value per share	$135.08	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$135.08	Tangible book value / shares outstanding.
Cash per share	$1.65	(Cash + short-term investments) / shares outstanding.
Payout ratio	80.4%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$52.27B	Share price x shares outstanding.
Enterprise value	$62.88B	Market cap + total debt - cash - short-term investments.
P/E	35.6x	Market cap / net income. Only when net income is positive.
P/S	3.06x	Market cap / revenue.
P/B	1.38x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.38x	Market cap / tangible book value, when positive.
P/OCF	5.15x	Market cap / cash from operations, when positive.
EV/Sales	3.68x	Enterprise value / revenue.
EV/EBIT	58.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.95x	Enterprise value / EBITDA, when both are positive.
Earnings yield	2.8%	Net income / market cap (the inverse of P/E).
Dividend yield	2.3%	Dividends paid over the period / market cap.
Shareholder yield	2.3%	(Dividends paid + share buybacks) / market cap.

What was Diamondback Energy, Inc.'s revenue in fiscal 2025?

Diamondback Energy, Inc. reported revenue of $15.03B for fiscal 2025, 35.8% higher than the year before.

Was Diamondback Energy, Inc. profitable in fiscal 2025?

Yes. Net income was $1.66B, a net margin of 11.1%.

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.

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