Matador Resources Company (MTDR) 10-Year Financial Performance & Capital Metrics

MTDR • • Industrial / General

EnergyOil & Gas E&PUnconventional Shale E&PPermian Basin Shale Leaders

AboutMatador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. It also operates the Eagle Ford shale play in South Texas; and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. In addition, the company conducts midstream operations in support of its exploration, development, and production operations; provides natural gas processing and oil transportation services; and offers oil, natural gas, and produced water gathering services, as well as produced water disposal services to third parties. As of December 31, 2021, its estimated total proved oil and natural gas reserves were 323.4 million barrels of oil equivalent, including 181.3 million stock tank barrels of oil and 852.5 billion cubic feet of natural gas. The company was formerly known as Matador Holdco, Inc. and changed its name to Matador Resources Company in August 2011. Matador Resources Company was founded in 2003 and is headquartered in Dallas, Texas.Show more

Revenue $3.48B +23.5%
EBITDA $2.41B +25.1%
Net Income $885M +4.6%
EPS (Diluted) 7.14 +1.3%
Gross Margin 44.33% -6.4%
EBITDA Margin 69.24% +1.3%
Operating Margin 41.24% -3.9%
Net Margin 25.45% -15.3%
ROE 18.47% -18.7%
ROIC 15.49% -11.4%
Debt/Equity 0.39 -29.5%
Interest Coverage 8.36 -16.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 28.6%
✓Strong 5Y profit CAGR of 58.8%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 27.6%
✓Healthy 5Y average net margin of 12.2%
✓Trading at only 1.0x book value

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y23.22%

5Y27.61%

3Y27.9%

TTM14.77%

Profit (Net Income) CAGR

10Y23.1%

5Y58.76%

3Y14.81%

TTM-15.58%

EPS CAGR

10Y16.43%

5Y46.72%

3Y13.29%

TTM-17.09%

ROCE

10Y Avg2.98%

5Y Avg16.9%

3Y Avg25.73%

Latest16.98%

Peer Comparison

Permian Basin Shale Leaders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PRPermian Resources Corporation	10.67B	14.32	9.88	60.23%	15.65%	7.21%	2.73%	0.41
FANGDiamondback Energy, Inc.	43.21B	150.82	9.71	32.19%	27.42%	9.19%		0.31
EOGEOG Resources, Inc.	58.61B	108.02	9.60	0.85%	24.49%	18.26%	9.85%	0.17
HPKHighPeak Energy, Inc.	592.77M	4.72	7.04	-3.77%	6.03%	3.27%	11.68%	0.66
MTDRMatador Resources Company	5.32B	42.79	5.99	23.47%	20.42%	13.34%	5.27%	0.39
SMSM Energy Company	2.1B	18.34	2.75	12.53%	22.19%	15.43%		0.67
BATLBattalion Oil Corporation	20.41M	1.24	-0.32	-12.17%	-6.61%	-17.9%		0.91
VTLEVital Energy, Inc.	693.32M	17.92	-3.78	26.15%	-69.28%	-74.84%		0.95

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	316.17M	264.42M	544.28M	899.6M	1.03B	855.2M	1.66B	3.06B	2.82B	3.48B
Revenue Growth %	-0.27%	-0.16%	1.06%	0.65%	0.14%	-0.17%	0.94%	0.84%	-0.08%	0.23%
Cost of Goods Sold+	272.57M	226.69M	316.13M	465.49M	666.31M	634.36M	771.44M	1.18B	1.48B	1.94B
COGS % of Revenue	0.86%	0.86%	0.58%	0.52%	0.65%	0.74%	0.46%	0.39%	0.53%	0.56%
Gross Profit+	43.59M	37.74M	228.15M	434.11M	361.6M	220.84M	891.54M	1.88B	1.33B	1.54B
Gross Margin %	0.14%	0.14%	0.42%	0.48%	0.35%	0.26%	0.54%	0.61%	0.47%	0.44%
Gross Profit Growth %	-0.79%	-0.13%	5.05%	0.9%	-0.17%	-0.39%	3.04%	1.11%	-0.29%	0.16%
Operating Expenses+	50.84M	56.27M	67.31M	70.84M	126.12M	742.34M	98.46M	118.65M	125.15M	107.46M
OpEx % of Revenue	0.16%	0.21%	0.12%	0.08%	0.12%	0.87%	0.06%	0.04%	0.04%	0.03%
Selling, General & Admin	50.1M	55.09M	66.02M	69.31M	80.05M	62.58M	96.4M	116.23M	110.37M	127.45M
SG&A % of Revenue	0.16%	0.21%	0.12%	0.08%	0.08%	0.07%	0.06%	0.04%	0.04%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	734K	-4K	3.55M	1.55M	46.07M	679.76M	2.07M	2.42M	14.78M	-20M
Operating Income+	-808.41M	-177.17M	160.84M	363.27M	235.48M	-521.5M	793.08M	1.76B	1.21B	1.43B
Operating Margin %	-2.56%	-0.67%	0.3%	0.4%	0.23%	-0.61%	0.48%	0.58%	0.43%	0.41%
Operating Income Growth %	-5.51%	0.78%	1.91%	1.26%	-0.35%	-3.21%	2.52%	1.22%	-0.31%	0.19%
EBITDA+	-629.56M	-53.94M	339.63M	629.94M	586.02M	-159.67M	1.14B	2.23B	1.93B	2.41B
EBITDA Margin %	-1.99%	-0.2%	0.62%	0.7%	0.57%	-0.19%	0.69%	0.73%	0.68%	0.69%
EBITDA Growth %	-3.01%	0.91%	7.3%	0.85%	-0.07%	-1.27%	8.14%	0.95%	-0.14%	0.25%
D&A (Non-Cash Add-back)	178.85M	123.23M	178.79M	266.67M	350.54M	361.83M	346.97M	468.77M	716.69M	974.3M
EBIT	-805.14M	-69.89M	164.41M	333.4M	232.39M	-522.47M	790.03M	1.75B	1.22B	1.44B
Net Interest Income+	-21.75M	-28.2M	-34.56M	-41.33M	-73.87M	-76.69M	-74.69M	-67.16M	-121.52M	-171.69M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	21.75M	28.2M	34.56M	41.33M	73.87M	76.69M	74.69M	67.16M	121.52M	171.69M
Other Income/Expense	-20.23M	79.07M	-30.99M	-71.2M	-76.97M	-77.66M	-77.73M	-73.6M	-112.94M	-170.99M
Pretax Income+	-826.89M	-98.09M	129.85M	292.07M	158.51M	-599.16M	715.35M	1.69B	1.1B	1.26B
Pretax Margin %	-2.62%	-0.37%	0.24%	0.32%	0.15%	-0.7%	0.43%	0.55%	0.39%	0.36%
Income Tax+	-147.37M	-1.04M	-8.16M	-7.69M	35.53M	-45.6M	74.71M	399.36M	186.03M	292.36M
Effective Tax Rate %	0.82%	0.99%	0.97%	0.94%	0.55%	0.99%	0.82%	0.72%	0.77%	0.7%
Net Income+	-679.78M	-97.42M	125.87M	274.21M	87.78M	-593.21M	584.97M	1.21B	846.07M	885.32M
Net Margin %	-2.15%	-0.37%	0.23%	0.3%	0.09%	-0.69%	0.35%	0.4%	0.3%	0.25%
Net Income Growth %	-7.14%	0.86%	2.29%	1.18%	-0.68%	-7.76%	1.99%	1.08%	-0.3%	0.05%
Net Income (Continuing)	-679.52M	-97.06M	138.01M	299.76M	122.98M	-553.56M	640.64M	1.29B	910.36M	971.34M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	956K	1.32M	100.99M	90.78M	135.8M	226.5M	220.18M	206.29M	216.83M	368.28M
EPS (Diluted)+	-8.34	-1.07	1.23	2.41	1.05	-4.77	4.91	10.11	7.05	7.14
EPS Growth %	-6.35%	0.87%	2.15%	0.96%	-0.56%	-5.54%	2.03%	1.06%	-0.3%	0.01%
EPS (Basic)	-8.34	-1.07	1.23	2.41	1.06	-4.77	5.00	10.28	7.10	7.16
Diluted Shares Outstanding	81.54M	91.27M	102.54M	113.69M	117.06M	116.07M	119.16M	120.13M	119.98M	124.08M
Basic Shares Outstanding	81.51M	91.05M	102.03M	113.58M	116.56M	116.07M	117M	118.12M	119.14M	123.57M
Dividend Payout Ratio	-	-	-	-	-	-	0.02%	0.03%	0.09%	0.12%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	127.01M	279.18M	257.17M	305.69M	278.49M	261.63M	371.31M	1.07B	715.87M	927.35M
Cash & Short-Term Investments	16.73M	212.88M	96.5M	64.55M	40.02M	57.92M	48.13M	505.18M	52.66M	23.03M
Cash Only	16.73M	212.88M	96.5M	64.55M	40.02M	57.92M	48.13M	505.18M	52.66M	23.03M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	44.41M	58.67M	141.22M	146.15M	189.41M	119.92M	241.42M	405.81M	472.95M	654.73M
Days Sales Outstanding	51.27	80.98	94.7	59.3	67.26	51.18	52.99	48.44	61.27	68.69
Inventory	2.02M	3.04M	5.99M	17.56M	10.74M	10.58M	12.19M	15.18M	41.81M	38.47M
Days Inventory Outstanding	2.71	4.9	6.92	13.77	5.89	6.09	5.77	4.7	10.29	7.25
Other Current Assets	60.64M	1.26M	7.17M	69.37M	25.1M	57.41M	40.76M	94.09M	94.81M	211.11M
Total Non-Current Assets+	1.01B	1.19B	1.89B	3.15B	3.79B	3.43B	3.89B	4.48B	7.01B	9.92B
Property, Plant & Equipment	1.01B	1.18B	1.88B	3.12B	3.7B	3.42B	3.86B	4.48B	7B	47.53M
Fixed Asset Turnover	0.31x	0.22x	0.29x	0.29x	0.28x	0.25x	0.43x	0.68x	0.40x	73.19x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	1.45M	958K	7.06M	6.51M	91.59M	6.35M	34.16M	5.68M	10.28M	9.88B
Total Assets+	1.14B	1.46B	2.15B	3.46B	4.07B	3.69B	4.26B	5.55B	7.73B	10.85B
Asset Turnover	0.28x	0.18x	0.25x	0.26x	0.25x	0.23x	0.39x	0.55x	0.36x	0.32x
Asset Growth %	-0.21%	0.28%	0.46%	0.61%	0.18%	-0.09%	0.16%	0.3%	0.39%	0.4%
Total Current Liabilities+	136.83M	169.5M	282.61M	330.02M	399.77M	290.94M	464.84M	575.87M	685.27M	995.36M
Accounts Payable	10.97M	4.67M	11.76M	66.97M	25.23M	13.98M	26.26M	58.85M	68.19M	147.14M
Days Payables Outstanding	14.68	7.53	13.57	52.51	13.82	8.05	12.42	18.2	16.78	27.73
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	8.86M	109.71M	156.49M	130.87M	69.18M	112.82M	63.88M	218.35M	231.5M	848.22M
Current Ratio	0.93x	1.65x	0.91x	0.93x	0.70x	0.90x	0.80x	1.86x	1.04x	0.93x
Quick Ratio	0.91x	1.63x	0.89x	0.87x	0.67x	0.86x	0.77x	1.83x	0.98x	0.89x
Cash Conversion Cycle	39.29	78.36	88.05	20.56	59.32	49.23	46.33	34.93	54.78	48.21
Total Non-Current Liabilities+	515.07M	603.72M	605.54M	1.35B	1.7B	1.88B	1.67B	1.66B	2.91B	3.4B
Long-Term Debt	391.25M	573.92M	574.07M	1.3B	1.58B	1.81B	1.53B	1.16B	2.21B	2.11B
Capital Lease Obligations	0	0	0	0	0	21.85M	0	19.96M	0	0
Deferred Tax Liabilities	19.12M	0	0	13.22M	37.33M	0	77.94M	0	0	847.67M
Other Non-Current Liabilities	21.31M	29.79M	31.46M	34.78M	80.71M	46.47M	64.41M	481.34M	707.41M	439.39M
Total Liabilities	651.9M	773.22M	888.14M	1.68B	2.1B	2.17B	2.13B	2.24B	3.6B	5.39B
Total Debt+	391.25M	573.92M	574.07M	1.3B	1.6B	1.87B	1.56B	1.23B	2.27B	2.11B
Net Debt	374.52M	361.04M	477.57M	1.23B	1.56B	1.82B	1.51B	719.83M	2.22B	2.09B
Debt / Equity	0.80x	0.83x	0.46x	0.73x	0.81x	1.24x	0.73x	0.37x	0.55x	0.39x
Debt / EBITDA	-	-	1.69x	2.06x	2.73x	-	1.37x	0.55x	1.18x	0.88x
Net Debt / EBITDA	-	-	1.41x	1.96x	2.66x	-	1.33x	0.32x	1.15x	0.87x
Interest Coverage	-37.16x	-6.28x	4.65x	8.79x	3.19x	-6.80x	10.62x	26.19x	9.95x	8.36x
Total Equity+	488.96M	691.45M	1.26B	1.78B	1.97B	1.51B	2.13B	3.32B	4.13B	5.46B
Equity Growth %	-0.44%	0.41%	0.82%	0.42%	0.11%	-0.23%	0.41%	0.56%	0.24%	0.32%
Book Value per Share	6.00	7.58	12.26	15.65	16.82	13.04	17.85	27.61	34.40	43.98
Total Shareholders' Equity	488M	690.13M	1.16B	1.69B	1.83B	1.29B	1.91B	3.11B	3.91B	5.09B
Common Stock	856K	995K	1.08M	1.16M	1.17M	1.17M	1.18M	1.19M	1.19M	1.25M
Retained Earnings	-538.93M	-636.35M	-510.48M	-236.28M	-148.5M	-741.71M	-171.32M	1.01B	1.78B	2.56B
Treasury Stock	0	0	-69K	-415K	-26K	-3K	-243K	-34K	-45K	-2.34M
Accumulated OCI	-1.58B	-1.86B	-2.04B	-2.31B	0	0	0	0	0	0
Minority Interest	956K	1.32M	100.99M	90.78M	135.8M	226.5M	220.18M	206.29M	216.83M	368.28M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	208.53M	134.09M	299.13M	608.52M	552.04M	477.58M	1.05B	1.98B	1.87B	2.25B
Operating CF Margin %	0.66%	0.51%	0.55%	0.68%	0.54%	0.56%	0.63%	0.65%	0.66%	0.65%
Operating CF Growth %	-0.17%	-0.36%	1.23%	1.03%	-0.09%	-0.13%	1.21%	0.88%	-0.06%	0.2%
Net Income	-679.52M	-97.06M	138.01M	299.76M	122.98M	-553.56M	640.64M	1.29B	910.36M	971.34M
Depreciation & Amortization	0	0	0	0	0	0	344.9M	466.35M	716.69M	974.3M
Stock-Based Compensation	9.45M	12.36M	16.65M	17.2M	18.5M	13.63M	9.04M	15.12M	13.66M	14.98M
Deferred Taxes	-150.33M	0	0	-7.24M	35.53M	-45.6M	74.71M	344.48M	172.1M	265.31M
Other Non-Cash Items	1.02B	216.97M	169.52M	234.37M	409.54M	1.09B	-14.95M	-15.59M	4.99M	7.88M
Working Capital Changes	8.98M	1.81M	-25.06M	64.43M	-34.52M	-23.08M	-982K	-117.94M	50.03M	13.08M
Change in Receivables	3.63M	-14.26M	-82.55M	-4.93M	-43.26M	53M	-98.46M	-228.38M	48.14M	-138.14M
Change in Inventory	-180K	-700K	-3.62M	-12.18M	4.78M	-655K	-1.54M	-2.85M	-3.03M	-10.93M
Change in Payables	1.38M	6.61M	33.56M	68.65M	-19M	-43.84M	76.89M	63.45M	2.81M	33.75M
Cash from Investing+	-425.15M	-448.74M	-819.28M	-1.52B	-903.98M	-775.67M	-729.26M	-1.04B	-3.21B	-3.67B
Capital Expenditures	-64.5M	-74.84M	-5.69M	-652.86M	-50.77M	-72.81M	-238.61M	-230.89M	-187.66M	-454.44M
CapEx % of Revenue	0.2%	0.28%	0.01%	0.73%	0.05%	0.09%	0.14%	0.08%	0.07%	0.13%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-336.63M	-373.89M	-813.6M	-862.4M	-853.21M	-702.86M	-490.66M	-806.59M	-3.02B	-1.5B
Cash from Financing+	224.94M	467.71M	408.5M	888.23M	333.08M	324.34M	-328.55M	-480.85M	902.33M	1.41B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-14.58M	-35.25M	-77.17M	-104.88M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	178.54M	285.03M	414.26M	188.98M	53.77M	94.89M	-16.76M	-62.06M	-49.38M	34.58M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-288.68M	-319.83M	-521.14M	-915.06M	-373.86M	-302.87M	319.88M	894.75M	318.02M	280.04M
FCF Margin %	-0.91%	-1.21%	-0.96%	-1.02%	-0.36%	-0.35%	0.19%	0.29%	0.11%	0.08%
FCF Growth %	0.09%	-0.11%	-0.63%	-0.76%	0.59%	0.19%	2.06%	1.8%	-0.64%	-0.12%
FCF per Share	-3.54	-3.50	-5.08	-8.05	-3.19	-2.61	2.68	7.45	2.65	2.26
FCF Conversion (FCF/Net Income)	-0.31x	-1.38x	2.38x	2.22x	6.29x	-0.81x	1.80x	1.63x	2.21x	2.54x
Interest Paid	0	0	0	0	0	0	0	72.56M	111.74M	160.27M
Taxes Paid	0	0	0	0	0	0	0	63.5M	4.6M	30M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-100.3%	-16.51%	12.92%	18.06%	4.68%	-34.07%	32.14%	44.6%	22.73%	18.47%
Return on Invested Capital (ROIC)	-58.82%	-13.87%	8.65%	11.48%	5.4%	-11.41%	17.07%	34.38%	17.47%	15.49%
Gross Margin	13.79%	14.27%	41.92%	48.26%	35.18%	25.82%	53.61%	61.41%	47.36%	44.33%
Net Margin	-215.01%	-36.84%	23.13%	30.48%	8.54%	-69.36%	35.18%	39.71%	30.03%	25.45%
Debt / Equity	0.80x	0.83x	0.46x	0.73x	0.81x	1.24x	0.73x	0.37x	0.55x	0.39x
Interest Coverage	-37.16x	-6.28x	4.65x	8.79x	3.19x	-6.80x	10.62x	26.19x	9.95x	8.36x
FCF Conversion	-0.31x	-1.38x	2.38x	2.22x	6.29x	-0.81x	1.80x	1.63x	2.21x	2.54x
Revenue Growth	-26.65%	-16.37%	105.84%	65.28%	14.26%	-16.8%	94.46%	83.89%	-7.86%	23.47%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Oil	-	-	635.55M	759.81M	595.51M	1.21B	2.11B	2.14B	2.77B
Oil Growth	-	-	-	19.55%	-21.62%	102.45%	75.31%	1.48%	29.25%
Natural Gas	-	-	165.15M	132.51M	148.95M	494.93M	792.13M	400.7M	371.47M
Natural Gas Growth	-	-	-	-19.76%	12.41%	232.27%	60.05%	-49.41%	-7.29%
Natural Gas, Sales	-	-	7.07M	74.77M	41.74M	86.03M	200.35M	149.87M	194.1M
Natural Gas, Sales Growth	-	-	-	957.40%	-44.17%	106.11%	132.88%	-25.20%	29.51%
Natural Gas, Midstream	-	-	21.92M	59.11M	64.93M	75.5M	90.61M	122.15M	141.03M
Natural Gas, Midstream Growth	-	-	-	169.66%	9.85%	16.27%	20.01%	34.82%	15.45%
Oil and Gas	-	-	800.7M	-	-	-	-	-	-
Oil and Gas Growth	-	-	-	-	-	-	-	-	-
Exploration and Production	289.51M	525.86M	-	-	-	-	-	-	-
Exploration and Production Growth	-	81.64%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Matador Resources Company (MTDR) has a price-to-earnings (P/E) ratio of 6.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Matador Resources Company (MTDR) reported $3.83B in revenue for fiscal year 2024. This represents a 5609% increase from $67.0M in 2011.

Matador Resources Company (MTDR) grew revenue by 23.5% over the past year. This is strong growth.

Yes, Matador Resources Company (MTDR) is profitable, generating $781.2M in net income for fiscal year 2024 (25.4% net margin).

Dividend & Returns

Yes, Matador Resources Company (MTDR) pays a dividend with a yield of 1.98%. This makes it attractive for income-focused investors.

Matador Resources Company (MTDR) has a return on equity (ROE) of 18.5%. This is reasonable for most industries.

Matador Resources Company (MTDR) generated $413.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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