Last 48 quarters of trend data · Energy · Oil & Gas Royalties
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 28.55 | 13.85 | 14.52 | 22.17 | — | — | 34.04 | 18.21 | 6.01 | 21.69 | 15.13 | 19.62 | 11.21 | 6.28 | 15.97 | 14.89 | 27.41 | 6.76 | 15.16 | 33.60 | 10.65 |
| — | — | -57.3% | +21.7% | — | — | +125.0% | -7.2% | -46.3% | +245.4% | -5.2% | +31.8% | -59.1% | -7.1% | +5.4% | -55.7% | +157.2% | -67.8% | -77.5% | — | — | |
| P/S Ratio | 6.54 | 2.93 | 3.12 | 4.29 | 3.86 | 3.62 | 4.19 | 5.58 | 5.53 | 5.05 | 3.97 | 4.11 | 3.11 | 1.69 | 3.00 | 3.02 | 2.89 | 2.43 | 2.14 | 2.83 | 2.54 |
| — | -19.1% | -25.5% | -23.0% | -30.2% | -28.3% | +5.5% | +35.7% | +77.5% | +199.3% | +32.5% | +36.1% | +7.9% | -30.4% | +40.1% | +6.8% | +13.5% | -11.6% | -20.1% | +15.1% | -1.1% | |
| P/B Ratio | 0.56 | 0.74 | 0.80 | 0.82 | 0.63 | 0.52 | 0.56 | 1.03 | 1.29 | 1.27 | 1.19 | 1.18 | 0.89 | 0.82 | 0.84 | 0.89 | 1.01 | 0.94 | 0.90 | 1.02 | 0.75 |
| — | +42.0% | +43.0% | -19.9% | -51.4% | -59.0% | -53.2% | -12.8% | +45.0% | +55.1% | +41.8% | +32.5% | -11.8% | -12.8% | -6.6% | -12.7% | +34.1% | +24.0% | +36.5% | +97.9% | +79.7% | |
| P/FCF | 10.01 | 4.33 | 5.35 | 7.15 | 4.90 | — | — | — | — | — | 6.31 | 8.96 | — | 2.64 | 3.50 | — | 3.63 | 3.05 | 3.14 | 4.20 | — |
| — | — | — | — | — | — | — | — | — | — | +80.2% | — | — | -13.6% | +11.6% | — | — | -44.2% | -23.6% | -3.6% | — | |
| EV / EBITDA | 8.28 | 4.18 | 4.06 | 5.68 | 5.79 | 5.53 | 5.68 | 6.45 | 7.34 | 6.40 | 5.60 | 5.97 | 4.80 | 2.25 | 4.38 | 4.44 | 3.82 | 3.44 | 3.07 | 3.99 | 3.91 |
| — | -24.3% | -28.4% | -11.9% | -21.2% | -13.7% | +1.3% | +8.0% | +53.0% | +185.2% | +27.9% | +34.5% | +25.6% | -34.8% | +42.8% | +11.2% | -2.2% | -15.9% | -25.6% | -4.2% | — | |
| EV / EBIT | 29.01 | 6.86 | 6.00 | 9.35 | — | — | 13.87 | 7.66 | 10.22 | 8.54 | 7.18 | 8.42 | 6.06 | 2.61 | 6.44 | 6.34 | 4.53 | 4.02 | 3.62 | 5.29 | 4.75 |
| — | — | -56.7% | +22.1% | — | — | +93.2% | -9.0% | +68.7% | +227.0% | +11.5% | +32.8% | +33.7% | -35.1% | +77.8% | +19.8% | -4.6% | -31.0% | -57.4% | -54.2% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.9% | 60.4% | 63.8% | 51.4% | 37.7% | 46.8% | 49.5% | 65.7% | 64.7% | 66.7% | 70.4% | 70.2% | 71.9% | 83.4% | 70.9% | 74.0% | 79.3% | 79.2% | 79.9% | 79.5% | 77.1% |
| — | +28.9% | +29.0% | -21.8% | -41.7% | -29.9% | -29.7% | -6.4% | -10.1% | -20.0% | -0.8% | -5.0% | -9.3% | +5.4% | -11.3% | -7.0% | +2.8% | +7.8% | +11.3% | +18.0% | +39.0% | |
| Operating Margin | 43.0% | 60.4% | 62.2% | 48.0% | 33.4% | 44.3% | 47.0% | 63.3% | 62.7% | 64.7% | 68.5% | 67.8% | 69.9% | 82.9% | 69.8% | 72.6% | 78.2% | 78.3% | 79.2% | 78.6% | 76.2% |
| — | +36.3% | +32.1% | -24.2% | -46.7% | -31.6% | -31.3% | -6.7% | -10.3% | -21.9% | -1.8% | -6.6% | -10.6% | +5.8% | -11.9% | -7.7% | +2.6% | +8.5% | +13.0% | +20.5% | +301.7% | |
| Net Margin | -5.1% | 21.2% | 21.6% | 19.6% | -24.4% | -19.6% | 12.9% | 30.6% | 91.9% | 23.4% | 26.4% | 21.0% | 27.8% | 26.8% | 19.0% | 20.2% | 10.7% | 35.8% | 14.2% | 8.2% | 23.8% |
| — | +208.1% | +67.4% | -36.1% | -126.6% | -183.9% | -51.1% | +45.9% | +230.1% | -12.9% | +38.7% | +4.1% | +161.0% | -25.2% | +33.7% | +144.9% | -55.2% | +172.2% | +247.7% | +363.9% | +165.6% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.0% | 1.3% | 1.4% | 0.9% | -1.0% | -0.8% | 0.5% | 1.6% | 5.8% | 1.6% | 2.0% | 1.5% | 2.2% | 3.3% | 1.3% | 1.5% | 0.9% | 3.5% | 1.5% | 0.7% | 1.9% |
| — | +271.3% | +159.0% | -42.4% | -116.7% | -150.0% | -73.3% | +8.1% | +168.6% | -52.8% | +48.9% | +2.1% | +129.5% | -3.9% | -11.5% | +98.4% | -51.2% | +282.6% | +497.7% | +555.8% | +233.3% | |
| ROA | -0.8% | 1.1% | 1.2% | 0.8% | -0.8% | -0.7% | 0.5% | 1.3% | 4.5% | 1.2% | 1.4% | 1.1% | 1.6% | 2.6% | 1.0% | 1.1% | 0.7% | 2.7% | 1.1% | 0.6% | 1.4% |
| — | +270.4% | +155.2% | -40.8% | -117.3% | -154.4% | -68.0% | +23.2% | +182.9% | -53.1% | +41.2% | -5.8% | +117.8% | -3.4% | -10.4% | +107.8% | -48.6% | +290.2% | +497.7% | +546.7% | +231.1% | |
| ROIC | 5.0% | 2.4% | 2.6% | 1.5% | 0.8% | 1.1% | 1.3% | 2.2% | 2.4% | 2.6% | 2.9% | 2.7% | 3.1% | 6.2% | 2.8% | 3.1% | 4.1% | 4.4% | 4.8% | 4.0% | 3.5% |
| — | +111.3% | +94.1% | -33.8% | -65.7% | -56.0% | -53.5% | -17.0% | -23.2% | -58.1% | +0.2% | -15.2% | -23.6% | +40.5% | -41.1% | -22.4% | +15.6% | +50.5% | +90.1% | +102.6% | +506.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.21 | 0.23 | 0.16 | 0.15 | 0.21 | 0.24 | 0.13 | 0.15 | 0.28 | 0.25 | 0.35 | 0.38 | 0.38 | 0.28 | 0.28 | 0.30 | 0.25 | 0.29 | 0.30 | 0.32 | 0.35 |
| — | -4.6% | +28.0% | +0.1% | -23.9% | -2.7% | -63.3% | -59.6% | -26.9% | -11.8% | +22.3% | +25.9% | +52.5% | -4.4% | -4.4% | -5.7% | -28.6% | -3.9% | +2.7% | +12.4% | +16.5% | |
| Debt / EBITDA | 1.84 | 3.96 | 2.78 | 3.61 | 5.83 | 7.36 | 4.24 | 3.70 | 5.21 | 4.31 | 5.09 | 5.88 | 5.77 | 2.42 | 4.44 | 4.53 | 3.03 | 3.29 | 3.05 | 3.87 | 5.01 |
| — | -46.3% | -34.5% | -2.5% | +11.9% | +70.8% | -16.7% | -37.0% | -9.7% | +78.0% | +14.6% | +29.7% | +90.2% | -26.3% | +45.9% | +17.0% | -39.5% | -31.5% | -40.8% | -35.5% | — | |
| Current Ratio | 3.72 | 5.92 | 6.37 | 6.17 | 3.72 | 1.88 | 6.15 | 8.70 | 4.89 | 7.24 | 7.06 | 3.46 | 4.32 | 5.52 | 3.77 | 4.48 | 5.41 | 4.96 | 5.21 | 3.68 | 4.54 |
| — | +214.8% | +3.6% | -29.1% | -23.9% | -74.1% | -12.9% | +151.6% | +13.3% | +31.2% | +87.4% | -22.7% | -20.2% | +11.4% | -27.7% | +21.5% | +19.0% | +174.1% | +304.8% | +288.9% | +277.8% | |
| Quick Ratio | 3.72 | 5.92 | 6.37 | 6.17 | 3.72 | 1.88 | 6.15 | 8.70 | 4.89 | 7.24 | 7.06 | 3.46 | 4.32 | 5.52 | 3.77 | 4.48 | 5.41 | 4.96 | 5.21 | 3.68 | 4.54 |
| — | +214.8% | +3.6% | -29.1% | -23.9% | -74.1% | -12.9% | +151.6% | +13.3% | +31.2% | +87.4% | -22.7% | -20.2% | +11.4% | -27.7% | +21.5% | +19.0% | +174.1% | +304.8% | +288.9% | +277.8% | |
| Interest Coverage | -1.34 | 12.30 | 17.04 | 10.00 | -6.42 | -5.97 | 7.07 | 14.38 | 7.82 | 8.54 | 8.50 | 6.60 | 8.90 | 21.88 | 8.95 | 11.08 | 15.65 | 16.25 | 19.18 | 14.55 | 12.90 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying VNOM stock.
Viper Energy, Inc.'s current P/E is 28.5x. The average P/E over the last 3 quarters is 16.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Viper Energy, Inc.'s current operating margin is 43.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Viper Energy, Inc.'s business trajectory between earnings reports.