Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Viper 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
FY2023
FY2025
FY2025
Revenue
828
861
1,395
Operating expenses
208
294
1,535
Operating income
620
567
-140
Interest income
2
2
10
Other non-operating income
-73
-63
-85
Pre-tax income
547
504
-225
Income tax
46
-100
-19
Net income to minority interests
301
245
-138
Net income
200
359
-68
EPS, basic
2.69
3.82
-0.48
EPS, diluted
2.69
3.82
-0.48
Shares, basic (weighted)
74.2
93.9
143
Shares, diluted (weighted)
74.2
93.9
143
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
26
27
13
Other current assets
2
9
Total current assets
238
413
Property, plant and equipment
4,638
12,209
Other non-current assets
8
16
Total assets
5,069
12,671
Accounts payable
2
Accrued liabilities
43
107
Short-term debt
0
Total current liabilities
49
111
Long-term debt
1,083
2,186
Other non-current liabilities
30
11
Total liabilities
1,162
2,308
Total debt
1,083
2,186
Paid-in capital
1,569
4,726
Retained earnings
118
-278
Shareholders' equity
1,687
4,448
Minority interests
2,220
5,915
Total equity
2,857
3,907
10,363
Total liabilities and equity
5,069
12,671
Cash flow statement
FY2023
FY2025
FY2025
Net income
501
604
-206
Deferred income tax
-7
-149
-83
Change in receivables
-27
-13
-25
Cash from operations
638
620
1,053
Cash from investing
-908
-608
-2,424
Debt issued
973
842
3,250
Debt repaid
-462
-844
-2,163
Stock issued
0
476
1,232
Dividends paid
-129
-219
-328
Cash from financing
278
-11
1,357
Net change in cash
8
1
-14
Interest paid
40
74
70
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 $40.19 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
36.2%
Operating income / revenue.
Pre-tax margin
31.4%
Pre-tax income / revenue.
Net margin
12.1%
Net income / revenue.
Operating cash flow margin
72.7%
Cash from operations / revenue.
Effective tax rate
16.4%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
5.4%
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)
9.2%
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%.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
62.0%
Revenue vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-124.7%
Operating income vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-118.9%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-112.6%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
69.8%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
163.7%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
150.0%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
51.7%
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
5.92x
Current assets / current liabilities.
Quick ratio
0.10x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.10x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.47x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
18.4%
Total debt / total assets.
Liabilities / assets
19.4%
Total liabilities / total assets.
Net debt
$2.38B
Total debt - cash - short-term investments. Negative means more cash than debt.
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
$11.77
Revenue / diluted weighted shares.
Operating cash flow per share
$8.56
Cash from operations / diluted weighted shares.
Book value per share
$26.41
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Dividends paid / net income, when net income is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$14.44B
Share price x shares outstanding.
Enterprise value
$16.82B
Market cap + total debt - cash - short-term investments.
P/E
52.3x
Market cap / net income. Only when net income is positive.
P/S
6.32x
Market cap / revenue.
P/B
2.82x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.82x
Market cap / tangible book value, when positive.
P/OCF
8.69x
Market cap / cash from operations, when positive.
EV/Sales
7.36x
Enterprise value / revenue.
EV/EBIT
20.4x
Enterprise value / operating income, when both are positive.
Earnings yield
1.9%
Net income / market cap (the inverse of P/E).
Dividend yield
3.2%
Dividends paid over the period / market cap.
Shareholder yield
3.2%
(Dividends paid + share buybacks) / market cap.
What was Viper Energy, Inc.'s revenue in fiscal 2025?
Viper Energy, Inc. reported revenue of $1.40B for fiscal 2025, 62% higher than the year before.
Was Viper Energy, Inc. profitable in fiscal 2025?
No. It reported a net loss of $68.0M.
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.