Matador Resources Co financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Matador Resources 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

	FY2015	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	264	544	900	1,026	862	1,862	3,197	2,818	3,505	3,696
Cost of revenue					41.5	61.5	95.5	124	167	208
Gross profit					821	1,801	3,101	2,694	3,338	3,488
General and administrative	55.1	66	69.3	80.1	62.6	96.4	116	110	127	137
Operating expenses							253	357	493	624
Operating income	-177	161	363	235	-521	793	1,759	1,209	1,435	1,227
Interest expense	28.2	34.6	41.3	73.9	76.7	74.7	67.2	122	172	209
Other non-operating income	79.1	-31	-71.2	-77	-77.7	-77.7	-73.6	-113	-171	-193
Pre-tax income	-98.1	130	292	159	-599	715	1,686	1,096	1,264	1,033
Income tax	-1.04	-8.16	-7.69	35.5	-45.6	74.7	399	186	292	173
Net income to minority interests	0.36	12.1	25.6	35.2	39.6	55.7	72.1	64.3	86	102
Net income	-97.4	126	274	87.8	-593	585	1,214	846	885	759
EBITDA	-55.1	338	628	586	-160	1,138	2,226	1,926	2,409	2,422
EPS, basic	-1.07	1.23	2.41	0.75	-5.11	5.00	10.28	7.10	7.16	6.10
EPS, diluted	-1.07	1.23	2.41	0.75	-5.11	4.91	10.11	7.05	7.14	6.09
Shares, basic (weighted)	91.3	102	114	117	116	117	118	119	124	125
Shares, diluted (weighted)	91.3	103	114	117	116	119	120	120	124	125
Dividend per share						0.13	0.30	0.65	0.85	1.31

Balance sheet

	FY2015	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	213	96.5	64.5	40	57.9	48.1	505	52.7	23	15.3
Receivables	34.2	66	68.2	95.2	85.1	164	225	274	332	286
Other current assets	279	257	306	278	15.8	28.8	51.6	92.7	123	129
Total current assets	279	257	306	278	262	371	1,072	716	927	817
Property, plant and equipment	1,185	1,881	3,123	3,700	3,368	3,857	4,418	6,956	9,764	10,731
Lease right-of-use assets				85.7	51.5	29.5	58.8	44.4	127	139
Other non-current assets	0.96	7.06	6.51	91.6	55.3	34.2	64.5	54.1	159	163
Total assets	1,465	2,146	3,456	4,070	3,687	4,262	5,555	7,727	10,850	11,711
Accounts payable	4.67	11.8	67	25.2	14	26.3	58.8	68.2	147	541
Accrued liabilities	101	174	171	201	119	253	261	366	441	541
Total current liabilities	170	283	330	400	291	465	576	685	995	1,032
Long-term debt							695	1,185	2,115	2,121
Lease liabilities				41.5	21.6	15.3	19.5	10.8	72.5	79.2
Other non-current liabilities	7.54	6.39	4.96	43.1	30.4	22.7	20	38.5	110	120
Total liabilities	773	888	1,676	2,100	2,174	2,135	2,237	3,599	5,393	5,714
Total debt							1,160	2,207	3,325	3,402
Paid-in capital	1,325	1,666	1,924	1,981	2,027	2,078	2,102	2,133	2,533	2,509
Retained earnings	-636	-510	-236	-149	-742	-171	1,008	1,777	2,557	3,153
Treasury stock	0	-0.07	-0.42	-0.03	-0	-0.24	-0.03	-0.05	-2.34	-5.33
Shareholders' equity	690	1,157	1,689	1,834	1,287	1,907	3,111	3,911	5,089	5,658
Minority interests	1.32	101	90.8	136	226	220	206	217	368	339
Total equity	691	1,258	1,780	1,969	1,513	2,127	3,317	4,128	5,457	5,997
Total liabilities and equity	1,465	2,146	3,456	4,070	3,687	4,262	5,555	7,727	10,850	11,711
Shares outstanding	99.5	109	109	117	117	118	119	119	125	124

Cash flow statement

	FY2015	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-97.1	138	300	123	-554	641	1,286	910	971	861
Depreciation and amortization	122	178	265	351	362	345	466	717	974	1,195
Stock-based compensation	12.4	16.7	17.2	18.5	13.6	9.04	15.1	13.7	15	18.3
Deferred income tax	0	0	-7.24	35.5	-45.6	74.7	344	172	265	166
Change in receivables	-14.3	-82.5	-4.93	-43.3	53	-98.5	-228	48.1	-138	114
Cash from operations	134	299	609	552	478	1,053	1,979	1,868	2,247	2,425
Capital expenditures	-454	-873	-1,505	-946	-722	-838	-1,063	-3,228	-3,907	-2,155
Acquisitions	0	0			0	0	-75.8
Cash from investing	-449	-819	-1,515	-904	-776	-729	-1,037	-3,211	-3,672	-2,158
Debt repaid	-120	0	-370	-35
Stock issued	289	209	227	0	0	1.34	0	0	345	0
Share buybacks								0	0	-55.8
Dividends paid					0	-14.6	-35.2	-77.2	-105	-163
Cash from financing	468	408	888	333	324	-329	-481	902	1,414	-283
Net change in cash	196	-116	-18.5	-18.9	26.3	-4.46	460	-441	-11.6	-15.3
Free cash flow	-320	-574	-896	-394	-244	215	915	-1,360	-1,660	270
Interest paid	27.5	32.8	29.5	75.5	76.9	74.8	72.6	112	160	196
Income taxes paid	2.9	0	0		0	0	63.5	4.6	30	50.5

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 $51.55 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	30.2%	Operating income / revenue.
EBITDA margin	61.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	24.5%	Pre-tax income / revenue.
Net margin	18.6%	Net income / revenue.
Operating cash flow margin	67.0%	Cash from operations / revenue.
Effective tax rate	14.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.4%	Net income / average total assets.
Return on invested capital (ROIC)	9.9%	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	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	31.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	33.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	33.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-14.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-11.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	0.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	2.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-14.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-14.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-14.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-15.5%	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	7.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	7.0%	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	38.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	-33.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	54.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	63.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	11.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	22.1%	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	34.5%	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	7.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	28.2%	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	26.0%	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	0.4%	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	1.2%	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	1.4%	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	0.65x	Current assets / current liabilities.
Quick ratio	0.28x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.02x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.71x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	31.2%	Total debt / total assets.
Liabilities / assets	53.7%	Total liabilities / total assets.
Net debt	$4.19B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.75x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.38x	Operating income / interest expense.
Working capital	-$542.0M	Current assets - current liabilities.
Tangible book value	$5.93B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.29x	Revenue / average total assets.
Fixed asset turnover	0.32x	Revenue / average property, plant and equipment.
Receivables turnover	9.51x	Revenue / average receivables.
Days sales outstanding	38 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.83	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	$31.29	Revenue / diluted weighted shares.
Operating cash flow per share	$20.97	Cash from operations / diluted weighted shares.
Book value per share	$47.81	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$47.81	Tangible book value / shares outstanding.
Cash per share	$0.21	(Cash + short-term investments) / shares outstanding.
Payout ratio	24.6%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.38B	Share price x shares outstanding.
Enterprise value	$10.57B	Market cap + total debt - cash - short-term investments.
P/E	8.82x	Market cap / net income. Only when net income is positive.
P/S	1.64x	Market cap / revenue.
P/B	1.08x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.08x	Market cap / tangible book value, when positive.
P/OCF	2.45x	Market cap / cash from operations, when positive.
EV/Sales	2.72x	Enterprise value / revenue.
EV/EBIT	9.01x	Enterprise value / operating income, when both are positive.
EV/EBITDA	4.42x	Enterprise value / EBITDA, when both are positive.
Earnings yield	11.3%	Net income / market cap (the inverse of P/E).
Dividend yield	2.8%	Dividends paid over the period / market cap.
Shareholder yield	3.2%	(Dividends paid + share buybacks) / market cap.

What was Matador Resources Co's revenue in fiscal 2025?

Matador Resources Co reported revenue of $3.70B for fiscal 2025, 5.5% higher than the year before.

Was Matador Resources Co profitable in fiscal 2025?

Yes. Net income was $759.2M, a net margin of 20.5%.

How much free cash flow did Matador Resources Co generate in fiscal 2025?

Cash from operations of $2.43B minus capital expenditures of $2.16B left free cash flow of $269.6M.

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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