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FANG logoDiamondback Energy, Inc.(FANG)Earnings, Financials & Key Ratios

FANG•NASDAQ
$195.10
$54.88B mkt cap·34.0× P/E·Price updated May 6, 2026
SectorEnergyIndustryOil & Gas E&PSub-IndustryU.S. shale oil focused producers
AboutDiamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico. As of December 31, 2021, the company's total acreage position was approximately 524,700 gross acres in the Permian Basin; and estimated proved oil and natural gas reserves were 1,788,991 thousand barrels of crude oil equivalent. It also held working interests in 5,289 gross producing wells, as well as royalty interests in 6,455 additional wells. In addition, the company owns mineral interests approximately 930,871 gross acres and 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale; and owns, operates, develops, and acquires midstream infrastructure assets, including 866 miles of crude oil gathering pipelines, natural gas gathering pipelines, and an integrated water system in the Midland and Delaware Basins of the Permian Basin. Diamondback Energy, Inc. was founded in 2007 and is headquartered in Midland, Texas.Show more
  • Revenue$15.03B+36.3%
  • EBITDA$9.96B+37.4%
  • Net Income$1.66B-50.1%
  • EPS (Diluted)5.73-63.1%
  • Gross Margin35.16%-22.1%
  • EBITDA Margin66.26%+0.8%
  • Operating Margin32.73%-17.9%
  • Net Margin11.07%-63.4%
  • ROE4.02%-65.5%
  • ROIC6.74%-22.6%
  • Debt/Equity0.34+8.1%
  • Interest Coverage8.68-47.3%
Analysis→Technical→

FANG Key Insights

Diamondback Energy, Inc. (FANG) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓FCF machine: 34.8% free cash flow margin
  • ✓Momentum leader: RS Rating 85 (top 15%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 39.8%
  • ✓Healthy dividend yield of 2.0%
  • ✓Healthy 5Y average net margin of 31.4%

✗Weaknesses

  • ✗Shares diluted 35.4% in last year
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FANG Price & Volume

Diamondback Energy, Inc. (FANG) stock price & volume — 10-year historical chart

Loading chart...

FANG Growth Metrics

Diamondback Energy, Inc. (FANG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years42.13%
5 Years39.81%
3 Years16.24%
TTM18.35%

Profit CAGR

10 Years-
5 Years-
3 Years-27.61%
TTM-89.86%

EPS CAGR

10 Years-
5 Years-
3 Years-38.48%
TTM-94.8%

Return on Capital

10 Years7.5%
5 Years16.94%
3 Years11.75%
Last Year7.63%

FANG Recent Earnings

Diamondback Energy, Inc. (FANG) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 4, 2026
EPS
$4.23
Est $3.74
+13.1%
Revenue
$4.2B
Est $3.8B
+10.6%
Q1 2026
Feb 23, 2026
EPS
$1.74
Est $2.00
-13.0%
Revenue
$3.0B
Est $3.3B
-7.5%
Q4 2025
Nov 3, 2025
EPS
$3.08
Est $2.94
+4.8%
Revenue
$3.9B
Est $3.5B
+11.2%
Q3 2025
Aug 4, 2025
EPS
$2.67
Est $2.76
-3.3%
Revenue
$3.7B
Est $3.3B
+9.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$4.23vs $3.74+13.1%
$4.2Bvs $3.8B+10.6%
Q1 2026Feb 23, 2026
$1.74vs $2.00-13.0%
$3.0Bvs $3.3B-7.5%
Q4 2025Nov 3, 2025
$3.08vs $2.94+4.8%
$3.9Bvs $3.5B+11.2%
Q3 2025Aug 4, 2025
$2.67vs $2.76-3.3%
$3.7Bvs $3.3B+9.1%
Based on last 12 quarters of dataView full earnings history →

FANG Peer Comparison

Diamondback Energy, Inc. (FANG) competitors in U.S. shale oil focused producers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MTDR logoMTDRMatador Resources CompanyDirect Competitor7.18B57.769.485.1%14.38%8.23%0.59
CTRA logoCTRACoterra Energy Inc.Direct Competitor24.72B32.5514.47-49.62%25.71%11.26%0.27
SM logoSMSM Energy CompanyDirect Competitor3.28B28.555.0618.07%20.55%14%0.48
PARR logoPARRPar Pacific Holdings, Inc.Direct Competitor3.08B62.298.70-6.39%6.02%32.37%0.90
EOG logoEOGEOG Resources, Inc.Product Competitor72.16B134.6914.78-3.47%23.41%18.28%0.28
DVN logoDVNDevon Energy CorporationProduct Competitor28.96B46.6011.1010.01%17.55%18.6%0.57
OVV logoOVVOvintiv Inc.Product Competitor15.17B59.9012.53-4.55%14.13%11.09%0.67
COP logoCOPConocoPhillipsProduct Competitor144.92B118.9018.727.51%12.56%11.29%0.36

Compare FANG vs Peers

Diamondback Energy, Inc. (FANG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MTDR

Most directly comparable listed peer for FANG.

Scale Benchmark

vs XOM

Larger-name benchmark to compare FANG against a more recognizable public peer.

Peer Set

Compare Top 5

vs MTDR, CTRA, SM, PARR

FANG Income Statement

Diamondback Energy, Inc. (FANG) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue1.21B2.18B3.96B2.81B6.75B9.57B8.34B11.02B15.03B15.19B
Revenue Growth %128.61%80.58%82.17%-29.04%139.85%41.78%-12.83%32.19%36.31%18.35%
Cost of Goods Sold551M1.06B2.37B2.18B2.48B2.87B3.54B6.05B9.74B8.84B
COGS % of Revenue45.73%48.67%59.81%77.36%36.71%29.95%42.46%54.89%64.84%-
Gross Profit
654M▲ 0%
1.12B▲ 70.8%
1.59B▲ 42.6%
637M▼ 60.0%
4.27B▲ 570.3%
6.7B▲ 56.9%
4.8B▼ 28.4%
4.97B▲ 3.6%
5.28B▲ 6.3%
6.36B▲ 0%
Gross Margin %54.27%51.33%40.19%22.64%63.29%70.05%57.54%45.11%35.16%41.83%
Gross Profit Growth %196.46%70.8%42.61%-60.01%570.33%56.93%-28.4%3.63%6.25%-
Operating Expenses49M106M898M6.11B269M193M228M576M365M2.99B
OpEx % of Revenue4.07%4.87%22.65%217.31%3.99%2.02%2.73%5.23%2.43%-
Selling, General & Admin48.67M64.55M104M88M146M144M150M213M288M294M
SG&A % of Revenue4.04%2.97%2.62%3.13%2.16%1.51%1.8%1.93%1.92%-
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses1M41M794M6.03B123M49M78M363M77M2M
Operating Income
605M▲ 0%
1.01B▲ 67.1%
695M▼ 31.3%
-5.48B▼ 887.9%
4B▲ 173.1%
6.51B▲ 62.7%
4.57B▼ 29.8%
4.4B▼ 3.8%
4.92B▲ 11.9%
3.36B▲ 0%
Operating Margin %50.21%46.46%17.53%-194.67%59.3%68.03%54.8%39.88%32.73%22.12%
Operating Income Growth %981.71%67.11%-31.26%-887.91%173.06%62.66%-29.78%-3.81%11.87%-
EBITDA932M1.63B2.15B-4.17B5.28B7.85B6.32B7.25B9.96B8.6B
EBITDA Margin %77.34%75.09%54.21%-148.06%78.2%82.08%75.74%65.74%66.26%56.64%
EBITDA Growth %751.94%75.32%31.52%-293.81%226.67%48.82%-19.56%14.72%37.4%2.19%
D&A (Non-Cash Add-back)327M623M1.45B1.31B1.27B1.34B1.75B2.85B5.04B5.24B
EBIT538M1.19B531M-5.58B3.1B5.88B4.42B4.79B2.12B177M
Net Interest Income-41M-87M-172M-197M-199M-159M-175M-135M-244M-267M
Interest Income01M1M4M1M1M0156M00
Interest Expense41M87.84M173M201M200M160M175M291M244M267M
Other Income/Expense-108M102M-333M-300M-1.09B-772M-322M105M-3.04B-3.21B
Pretax Income
497.19M▲ 0%
1.11B▲ 123.9%
362M▼ 67.5%
-5.78B▼ 1695.6%
2.91B▲ 150.3%
5.74B▲ 97.3%
4.25B▼ 25.9%
4.5B▲ 6.0%
1.87B▼ 58.4%
156M▲ 0%
Pretax Margin %41.26%51.16%9.13%-205.33%43.09%59.96%50.94%40.83%12.47%1.03%
Income Tax-19.57M168.36M47M-1.1B631M1.17B912M800M327M-44M
Effective Tax Rate %-3.94%15.12%12.98%19.11%21.71%20.47%21.47%17.77%17.45%-28.21%
Net Income
482M▲ 0%
846M▲ 75.5%
240M▼ 71.6%
-4.52B▼ 1982.1%
2.18B▲ 148.3%
4.39B▲ 101.0%
3.14B▼ 28.3%
3.34B▲ 6.2%
1.66B▼ 50.1%
403M▲ 0%
Net Margin %40%38.88%6.05%-160.58%32.34%45.85%37.69%30.28%11.07%2.65%
Net Income Growth %392.06%75.52%-71.63%-1982.08%148.31%101.01%-28.34%6.2%-50.15%-89.86%
Net Income (Continuing)516.76M944.89M315M-4.67B2.28B4.56B3.34B3.7B1.55B200M
Discontinued Operations0000000000
Minority Interest326.88M467M1.66B1.01B1.16B681M805M2.13B6B6.17B
EPS (Diluted)
4.94▲ 0%
8.06▲ 63.2%
1.46▼ 81.9%
-28.59▼ 2058.2%
12.30▲ 143.0%
24.61▲ 100.1%
17.34▼ 29.5%
15.53▼ 10.4%
5.73▼ 63.1%
1.43▲ 0%
EPS Growth %324.55%63.16%-81.89%-2058.22%143.02%100.08%-29.54%-10.44%-63.1%-94.8%
EPS (Basic)4.958.081.47-28.5912.3524.6117.3415.535.73-
Diluted Shares Outstanding97.69M104.93M163.84M157.98M177.36M176.54M180M213.54M289.08M282.79M
Basic Shares Outstanding97.46M104.62M163.49M157.98M176.64M176.54M180M213.54M289.08M282.79M
Dividend Payout Ratio-4.37%46.67%-14.3%35.84%45.94%47.27%69.47%-

FANG Balance Sheet

Diamondback Energy, Inc. (FANG) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets358.6M925.02M869M602M1.45B1.39B1.62B2.11B1.92B2.7B
Cash & Short-Term Investments112.45M214.52M123M104M654M157M582M161M106M174M
Cash Only112.45M214.52M123M104M654M157M582M161M106M174M
Short-Term Investments0000000000
Accounts Receivable231.61M429.92M634M437M671M1.01B847M1.58B1.39B2.16B
Days Sales Outstanding70.1672.1158.3856.736.338.3837.0752.4833.6740.28
Inventory9.11M37.57M37M33M62M67M63M116M86M79M
Days Inventory Outstanding6.0312.955.75.549.148.546.4973.223.78
Other Current Assets531K231M51M5M31M162M130M248M337M290M
Total Non-Current Assets7.41B20.67B22.66B17.02B21.45B24.82B27.38B65.18B69.14B67.38B
Property, Plant & Equipment7.34B20.37B21.84B16.21B20.62B23.76B26.67B64.47B874M889M
Fixed Asset Turnover0.16x0.11x0.18x0.17x0.33x0.40x0.31x0.17x17.19x0.84x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments0117M479M533M613M566M529M375M0768M
Other Non-Current Assets68.77M201M206M197M180M428M132M162M68.27B207.21B
Total Assets
7.77B▲ 0%
21.6B▲ 177.9%
23.53B▲ 9.0%
17.62B▼ 25.1%
22.9B▲ 30.0%
26.21B▲ 14.5%
29B▲ 10.7%
67.29B▲ 132.0%
71.06B▲ 5.6%
70.08B▲ 0%
Asset Turnover0.16x0.10x0.17x0.16x0.29x0.36x0.29x0.16x0.21x0.21x
Asset Growth %45.26%177.9%8.96%-25.12%29.96%14.46%10.65%132.03%5.6%123.41%
Total Current Liabilities577.43M1.02B1.26B1.24B1.44B1.72B2.11B4.81B4.6B4.82B
Accounts Payable94.59M127.98M179M71M36M127M261M253M1.17B1.18B
Days Payables Outstanding62.6644.1127.5611.915.316.1826.915.2643.7630.83
Short-Term Debt000191M45M10M00763M749M
Deferred Revenue (Current)0000000000
Other Current Liabilities101.53M027M276M323M82M124M1.02B2.52B2.37B
Current Ratio0.62x0.91x0.69x0.49x1.01x0.81x0.77x0.44x0.42x0.42x
Quick Ratio0.61x0.87x0.66x0.46x0.96x0.77x0.74x0.41x0.40x0.40x
Cash Conversion Cycle13.5340.9536.5250.3340.1330.7416.6644.22-6.8713.24
Total Non-Current Liabilities1.61B6.41B7.36B6.58B8.21B8.8B9.46B22.62B23.49B22.62B
Long-Term Debt1.48B4.46B5.37B5.62B6.64B6.24B6.64B12.07B13.73B13.15B
Capital Lease Obligations0000000000
Deferred Tax Liabilities108.05M1.78B1.89B783M1.34B2.07B2.45B9.83B9.14B37.45B
Other Non-Current Liabilities26.43M161M105M172M235M496M373M718M625M2.63B
Total Liabilities2.19B7.43B8.63B7.82B9.65B10.52B11.57B27.43B28.09B27.44B
Total Debt1.51B4.52B5.49B5.93B6.77B6.38B6.8B12.43B14.49B749M
Net Debt1.39B4.31B5.37B5.83B6.12B6.22B6.22B12.27B14.38B575M
Debt / Equity0.27x0.32x0.37x0.60x0.51x0.41x0.39x0.31x0.34x0.34x
Debt / EBITDA1.62x2.77x2.55x-1.28x0.81x1.08x1.72x1.46x0.09x
Net Debt / EBITDA1.49x2.64x2.50x-1.16x0.79x0.98x1.69x1.44x1.44x
Interest Coverage13.12x13.56x3.07x-27.77x15.48x36.78x25.27x16.46x8.68x0.66x
Total Equity
5.58B▲ 0%
14.17B▲ 153.8%
14.91B▲ 5.2%
9.8B▼ 34.2%
13.24B▲ 35.1%
15.69B▲ 18.5%
17.43B▲ 11.1%
39.86B▲ 128.7%
42.97B▲ 7.8%
42.64B▲ 0%
Equity Growth %38.91%153.81%5.22%-34.23%35.1%18.46%11.09%128.7%7.79%158.61%
Book Value per Share57.14135.0290.9862.0674.6888.8896.83186.67148.63150.78
Total Shareholders' Equity5.25B13.7B13.25B8.79B12.09B15.01B16.63B37.74B36.97B36.47B
Common Stock982K2M2M2M2M2M2M3M3M3M
Retained Earnings-37.13M762M890M-3.86B-2B801M2.49B4.24B4.74B4.47B
Treasury Stock0000000000
Accumulated OCI0-74K000-7M-8M-6M-7M-7M
Minority Interest326.88M467M1.66B1.01B1.16B681M805M2.13B6B6.17B

FANG Cash Flow Statement

Diamondback Energy, Inc. (FANG) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations889M1.56B2.74B2.12B3.94B6.33B5.92B6.41B8.76B8.76B
Operating CF Margin %73.78%71.92%69.1%75.29%58.46%66.12%70.99%58.18%58.29%-
Operating CF Growth %167.71%76.04%75.02%-22.67%86.21%60.37%-6.4%8.33%36.57%84.49%
Net Income517M945M315M-4.67B2.28B4.56B3.34B3.7B1.66B403M
Depreciation & Amortization327M623M1.45B1.31B1.27B1.34B1.75B2.85B5.04B5.22B
Stock-Based Compensation26M27M48M37M51M55M54M65M043M
Deferred Taxes-20M168M47M-1.04B606M720M378M15M-519M-767M
Other Non-Cash Items87M-204M1.04B6.39B-300M-157M110M-122M2.89B4.28B
Working Capital Changes-48M6M-167M97M36M-199M296M-96M-314M-992M
Change in Receivables-97M13M-187M155M-44M-330M212M-33M386M-390M
Change in Inventory-2M-14.77M-10M0000000
Change in Payables37M-7M-129M-20M-41M-47M57M-376M-343M-226M
Cash from Investing-3.13B-3.5B-3.89B-2.1B-1.54B-3.33B-3.32B-11.22B-7.81B-6.81B
Capital Expenditures-3.3B-3.48B-3.7B-2.04B-2.27B-3.61B-4.71B-11.79B-3.52B-6.64B
CapEx % of Revenue274.02%159.74%93.26%72.66%33.7%37.77%56.53%106.93%23.45%-
Acquisitions00-485M-102M-114M0000-314M
Investments----------
Other Investing170M-26.99M294M45M849M283M1.39B566M-4.29B-465M
Cash from Financing689M2.04B1.06B-37M-1.84B-3.5B-2.18B4.39B-1.01B-3.28B
Debt Issued (Net)370M1.91B851M410M-680M-257M377M6.37B1.57B-535M
Equity Issued (Net)370M305M513M-137M-525M-1.25B-935M-483M-778M-1.49B
Dividends Paid0-37M-112M-236M-312M-1.57B-1.44B-1.58B-1.16B-1.28B
Share Repurchases00-593M-137M-525M-1.25B-935M-959M-2.01B-2.08B
Other Financing-51M-140M-190M-74M-324M-423M-174M75M-648M25M
Net Change in Cash
-1.55B▲ 0%
103M▲ 106.6%
-87M▼ 184.5%
-20M▲ 77.0%
564M▲ 2920.0%
-508M▼ 190.1%
421M▲ 182.9%
-421M▼ 200.0%
-58M▲ 86.2%
-1.86B▲ 0%
Free Cash Flow
-2.41B▲ 0%
-1.91B▲ 20.8%
-958M▲ 49.9%
74M▲ 107.7%
1.67B▲ 2156.8%
2.71B▲ 62.4%
1.21B▼ 55.5%
-5.37B▼ 545.6%
5.24B▲ 197.4%
1.59B▲ 0%
FCF Margin %-200.25%-87.82%-24.17%2.63%24.75%28.35%14.46%-48.75%34.84%10.48%
FCF Growth %-180.88%20.8%49.87%107.72%2156.76%62.4%-55.53%-545.61%197.41%130.13%
FCF per Share-24.70-18.21-5.850.479.4215.366.70-25.1718.1118.11
FCF Conversion (FCF/Net Income)1.84x1.85x11.41x-0.47x1.81x1.44x1.88x1.92x5.26x3.95x
Interest Paid0114M000135M146M269M00
Taxes Paid0689K000718M352M605M00

FANG Key Ratios

Diamondback Energy, Inc. (FANG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)10.04%8.57%1.65%-36.56%18.93%30.32%18.98%11.65%4.02%0.93%
Return on Invested Capital (ROIC)8.69%5.96%2.69%-22.88%17.15%23.65%15.05%8.7%6.74%6.74%
Gross Margin54.27%51.33%40.19%22.64%63.29%70.05%57.54%45.11%35.16%41.83%
Net Margin40%38.88%6.05%-160.58%32.34%45.85%37.69%30.28%11.07%2.65%
Debt / Equity0.27x0.32x0.37x0.60x0.51x0.41x0.39x0.31x0.34x0.34x
Interest Coverage13.12x13.56x3.07x-27.77x15.48x36.78x25.27x16.46x8.68x0.66x
FCF Conversion1.84x1.85x11.41x-0.47x1.81x1.44x1.88x1.92x5.26x3.95x
Revenue Growth128.61%80.58%82.17%-29.04%139.85%41.78%-12.83%32.19%36.31%18.35%

FANG SEC Filings & Documents

Diamondback Energy, Inc. (FANG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Apr 13, 2026·SEC

Material company update

Apr 13, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 26, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 6, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FANG Frequently Asked Questions

Diamondback Energy, Inc. (FANG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Diamondback Energy, Inc. (FANG) reported $15.19B in revenue for fiscal year 2025. This represents a 119364% increase from $12.7M in 2009.

Diamondback Energy, Inc. (FANG) grew revenue by 36.3% over the past year. This is strong growth.

Yes, Diamondback Energy, Inc. (FANG) is profitable, generating $403.0M in net income for fiscal year 2025 (11.1% net margin).

Dividend & Returns

Yes, Diamondback Energy, Inc. (FANG) pays a dividend with a yield of 2.05%. This makes it attractive for income-focused investors.

Diamondback Energy, Inc. (FANG) has a return on equity (ROE) of 4.0%. This is below average, suggesting room for improvement.

Diamondback Energy, Inc. (FANG) generated $1.59B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Diamondback Energy, Inc. (FANG) financial analysis — history, returns, DCA and operating performance tools

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