Diamondback Energy, Inc. (FANG) Revenue History
Annual and quarterly revenue from 2009 to present
FANG Revenue Over Time (2009–2025)
FANG Revenue Growth History
13 of 16 years with positive growth- FY2009 revenue growth
- N/A
- FY2010 revenue growth
- +114.3%
- FY2011 revenue growth
- +81.1%
- FY2012 revenue growth
- +51.8%
- FY2013 revenue growth
- +177.5%
- FY2014 revenue growth
- +138.3%
- FY2015 revenue growth
- -9.9%
- FY2016 revenue growth
- +18.0%
- FY2017 revenue growth
- +128.6%
- FY2018 revenue growth
- +80.6%
- FY2019 revenue growth
- +82.2%
- FY2020 revenue growth
- -29.0%
- FY2021 revenue growth
- +139.9%
- FY2022 revenue growth
- +41.8%
- FY2023 revenue growth
- -12.8%
- FY2024 revenue growth
- +32.2%
- FY2025 revenue growth
- +36.3%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $5.56B | +52.3% |
| Q1 2026 | $4.24B | +5.2% |
| Q4 2025 | $3.38B | -8.7% |
| Q3 2025 | $3.92B | +48.9% |
| Q2 2025 | $3.65B | +47.6% |
| Q1 2025 | $4.03B | +81.7% |
| Q4 2024 | $3.70B | +66.7% |
| Q3 2024 | $2.64B | +12.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
FANG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
FANG Revenue Analysis (2009–2025)
Current Revenue & Growth
As of October 3, 2026, Diamondback Energy, Inc. (FANG) generated trailing twelve-month (TTM) revenue of $17.10 billion, reflecting explosive growth of +52.3% year-over-year. The most recent quarter (Q2 2026) recorded $5.56 billion in revenue, up 31.2% sequentially.
Historical Growth Trajectory
FANG's 5-year compound annual growth rate (CAGR) stands at +39.8%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +16.2% is below the 5-year average, signalling a growth deceleration in recent years. Diamondback Energy, Inc.'s highest annual revenue of $15.03 billion was recorded in 2025, an all-time high.
Revenue by Segment
FANG's revenue is primarily driven by Oil Exploration and Production (88%), Oil Purchased (5%), and Natural Gas Liquids Production (5%). With over half of revenue concentrated in Oil Exploration and Production, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Energy sector peers — including MTDR (+3.2% YoY), CTRA (+29.7% YoY), and SM (+77.5% YoY) — FANG has outperformed the peer group in revenue growth. Compare FANG vs MTDR →
FANG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FANGCurrent | $17.1B | +52.3% | +39.8% | 32.7% | |
 MTDR | $3.7B | +3.2% | +33.7% | 32.5% | |
 CTRA | $7.6B | +29.7% | +39.1% | 32.0% | |
 SM | $3.2B | +77.5% | +22.9% | 26.1% | |
 PARR | $7.5B | +13.2% | +19.0% | 7.2% | |
 EOG | $22.6B | +17.8% | +18.0% | 35.1% |
FANG Historical Revenue Data (2009–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $15.03B | +36.3% | $5.28B | 35.2% | $4.92B | 32.7% |
| 2024 | $11.02B | +32.2% | $4.97B | 45.1% | $4.40B | 39.9% |
| 2023 | $8.34B | -12.8% | $4.80B | 57.5% | $4.57B | 54.8% |
| 2022 | $9.57B | +41.8% | $6.70B | 70.1% | $6.51B | 68.0% |
| 2021 | $6.75B | +139.9% | $4.27B | 63.3% | $4.00B | 59.3% |
| 2020 | $2.81B | -29.0% | $637.0M | 22.6% | $-5,476,000,000 | -194.7% |
| 2019 | $3.96B | +82.2% | $1.59B | 40.2% | $695.0M | 17.5% |
| 2018 | $2.18B | +80.6% | $1.12B | 51.3% | $1.01B | 46.5% |
| 2017 | $1.21B | +128.6% | $654.0M | 54.3% | $605.0M | 50.2% |
| 2016 | $527.1M | +18.0% | $220.6M | 41.9% | $-68,617,000 | -13.0% |
| 2015 | $446.7M | -9.9% | $107.3M | 24.0% | $-740,269,000 | -165.7% |
| 2014 | $495.7M | +138.3% | $234.4M | 47.3% | $212.7M | 42.9% |
| 2013 | $208.0M | +177.5% | $106.4M | 51.2% | $95.2M | 45.8% |
| 2012 | $75.0M | +51.8% | $27.8M | 37.1% | $17.3M | 23.1% |
| 2011 | $49.4M | +81.1% | $18.9M | 38.2% | $15.1M | 30.7% |
FANG Chart Terminal
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
FANG — Frequently Asked Questions
Quick answers to the most common questions about buying FANG stock.
Is FANG's revenue growth accelerating or slowing?
FANG revenue growth is accelerating. TTM revenue reached $17.1B, up +52.3% year-over-year — ahead of the 5-year CAGR of +39.8%. This indicates the business is expanding faster than its historical baseline.
What is FANG's revenue history from 2009 to 2026?
Diamondback Energy, Inc. (FANG) revenue history spans 2009 to 2026. TTM revenue as of 2026 is $17.1B, growing at +52.3% YoY. The 5-year CAGR is +39.8%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is FANG's long-term revenue growth rate (CAGR)?
Diamondback Energy, Inc.'s 5-year revenue CAGR of +39.8% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +52.3% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for FANG.
Why does FANG's quarterly revenue fluctuate?
FANG quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Diamondback Energy, Inc.'s revenue data from 2009 to 2026 shows full historical quarterly detail on this page.
How is FANG's revenue distributed by segment?
FANG reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does FANG's revenue compare to industry peers?
Diamondback Energy, Inc. (FANG) with TTM revenue of $17.1B and +52.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.