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Diamondback Energy, Inc. USD

Update

Permian Basin–focused independent oil producer with integrated midstream logistics.

Sector: United States — oil & gas exploration & production

Geography: United States

US_EP_FANG

Price chart

183.5 USDDay -2.46%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
183.5 USD · -2.46%
Market cap
51.6 bn USD

Growth

Δ revenue y/y
4.7%
Δ EBITDA y/y
-49.1%

Multiples

P/E (LTM)
181.8x
3y avg: 17.7x
P/B (FY)
1.4x
EV/EBITDA (LTM)
13.2x
3y avg: 8.3x
EV/EBITDA (ann.)
11.6x

Cash return

Dividend yield
2.3%
FCF yield (LTM)
0.8%

Liquidity

Daily turnover (US listing)
804.8 mln USD

Shares: sec_companyfacts/1539838

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 10 / Err: 1 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-09-30 Q3✗Errors 1Warn 2
2023-12-31 FY⚠Warn 1
2024-03-31 Q1⚠Warn 1
2024-06-30 Q2⚠Warn 2
2024-09-30 Q3⚠Warn 1
2024-12-31 FY⚠Warn 1
2025-03-31 Q1⚠Warn 1
2025-06-30 Q2⚠Warn 2
2025-09-30 Q3⚠Warn 1
2025-12-31 FY⚠Warn 1
2026-03-31 Q1⚠Warn 3
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK4.2
y/y 4.7%
0.1
y/y -93.1%
1.3
y/y 17.9%
1.4
y/y -49.1%
0.0
y/y -98.2%
1.8-0.770.1
y/y 0.0%
36.5
y/y -5.2%
0.3%13.7Link
2025-12-31Q4 2025 (3M)OK3.4
y/y -9.0%
-2.8
y/y -297.0%
1.4
y/y 20.2%
-1.4
y/y -154.2%
-1.5
y/y -235.8%
2.3-0.171.1
y/y 5.6%
37.0
y/y -2.0%
4.4%14.4Link
2025-09-30Q3 2025 (3M)OK3.9
y/y 48.4%
1.2
y/y 74.1%
1.3
y/y 73.3%
2.5
y/y 73.7%
1.0
y/y 54.5%
2.4-2.176.2
y/y 15.9%
39.1
y/y 4.4%
3.5%16.1Link
2025-06-30Q2 2025 (3M)OK3.7
y/y 48.1%
1.1
y/y -1.5%
1.3
y/y 162.1%
2.4
y/y 46.7%
0.7
y/y -16.5%
1.7-4.071.9
y/y 101.9%
38.9
y/y 122.8%
7.2%14.9Link
2025-03-31Q1 2025 (3M)OK4.0
y/y 81.8%
1.7
y/y 49.6%
1.1
y/y 133.9%
2.8
y/y 74.5%
1.4
y/y 82.9%
2.4-1.770.1
y/y 136.0%
38.5
y/y 127.0%
14.7%12.1Link
2024-12-31Q4 2024 (3M)OK3.7
y/y —
1.4
y/y —
1.2
y/y —
2.6
y/y —
1.1
y/y —
2.3-1.967.3
y/y 132.0%
37.7
y/y 127.0%
8.9%12.8Link
2024-09-30Q3 2024 (3M)OK2.6
y/y 13.0%
0.7
y/y -47.0%
0.7
y/y 67.9%
1.5
y/y -18.5%
0.7
y/y -28.0%
1.2-8.265.7
y/y 134.4%
37.4
y/y 129.9%
3.2%12.6Link
2024-06-30Q2 2024 (3M)OK2.5
y/y —
1.2
y/y —
0.5
y/y —
1.6
y/y —
0.8
y/y —
1.5-0.435.6
y/y —
17.4
y/y —
19.5%5.1Link
2024-03-31Q1 2024 (3M)OK2.2
y/y —
1.1
y/y —
0.5
y/y —
1.6
y/y —
0.8
y/y —
1.3-0.829.7
y/y —
16.9
y/y —
18.3%5.7Link
2023-12-31FY 2023 (12M)OK8.4
y/y —
4.6
y/y —
1.7
y/y —
6.3
y/y —
3.1
y/y —
1.6-3.329.0
y/y —
16.6
y/y —
19.1%6.1Link
2023-09-30Q3 2023 (3M)OK2.3
y/y —
1.3
y/y —
0.4
y/y —
1.8
y/y —
0.9
y/y —
1.4—28.0
y/y —
16.3
y/y —
—5.4Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Proved reserves
2 033 mln boe
2022
Reserve life (R/P)
8.2 yrs
reserves ÷ annual output
Annual production
247.02 mln boe
2025

Production, mln boe

12.08201515.75201628.92201747.612018103.282019109.922020137.002021140.892022163.412023218.972024247.022025

Proved reserves

YearReserves, mln boe
20222 033
20211 789
20201 316
20191 128
2018992.00
2017335.35
20162 055 *
20151 569 *
20141 128 *

Production

YearProduction, mln boeper day
2025247.02
+12.8%		676 764
2024218.97
+34.0%		599 923
2023163.41
+16.0%		447 707
2022140.89
+2.8%		386 005
2021137.00
+24.6%		375 348
2020109.92
+6.4%		301 153
2019103.28282 973
201847.61 *130 438
201728.92 *79 225

* historical figures with reconstructed scale · * partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-2 00002 0004 0002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-200%-100%0%100%2023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-8 000-6 000-4 000-2 00002 0002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

05 00010 00015 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +36% vs +32% the year before — a +4.2 pp move. 3-year CAGR —.
revenue growth by year: 2024 +32% · 2025 +36%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 13.4x · 3-year average 9.2x

EV/EBITDA3-year 75th pct

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

Prod. CAGR (2 yr): +48.3%

921.0795.4669.8544.2418.6202320242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves CAGR (2 yr): +28.6% · Reserves life (R/P): 10.8 yr

36183260290225442186202320242025Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2025-12-319213,6182,5211,097
2024-12-31598.33,5572,385—
2023-12-31418.62,186——

Spot EBITDA forecast (next 12 months)

Model: apply spot-vs-LTM commodity price moves to LTM revenue mix (oil/gas/NGL). Purchased products scale with revenue; remaining cash expenses inflate (PPI proxy). Fair value: EBITDA at trailing ~3y average commodity prices, conservative used EBITDA (average of spot and 3y-avg when spot is higher), × 3y average EV/EBITDA − net debt.

Notes: Revenue mix derived from FY2025 10-K production volumes × realized sales prices (see Production & realized prices table below).
Spot 12M revenue
18 167 USDm
+14.3% vs LTM
Spot 12M EBITDA
10 745 USDm
+18.0% vs LTM
EV / Spot EBITDA
6.1x
current EV 65 345m ÷ spot EBITDA 10 745m
Upside to fair mcap
+30.0%
fair mcap 66 223 USDm
Show calculation
Line itemValue
1 · Reported baseline
LTM or latest FY revenue/EBITDA and revenue mix.
LTM revenue (last 4 quarters)15 890 USDm
LTM EBITDA (last 4 quarters)9 106 USDm
Baseline cash costs (revenue − EBITDA)6 784 USDm
Revenue mix: oil / gas / NGL / other86.4% / 3.0% / 10.6% / 0.0%
· Crude oil11 621 USDm (86.4% of implied)
· Natural gas399 USDm (3.0% of implied)
· NGLs1 432 USDm (10.6% of implied)
2 · Commodity prices
Spot move = last ÷ LTM average. 3y-avg-price EBITDA uses trailing ~3y mean ÷ LTM average.
Oil — spot & 3y avg vs LTMspot 84.65 · LTM avg 73.23 · 3y avg — → spot move +15.6%
Gas — spot & 3y avg vs LTMspot 3.21 · LTM avg 3.40 · 3y avg — → spot move -5.5%
NGL — spot & 3y avg vs LTMspot 5 480.00 · LTM avg 4 998.37 · 3y avg — → spot move +9.6%
3 · Cash cost model
Purchased products scale with revenue; other costs inflate.
Purchased products / revenue0.0%
PPI inflation multiplier (12m)1.094
→ Projected purchased cost (at spot revenue)0 USDm
→ Projected other cash cost (inflated)7 422 USDm
4 · Spot forward P&L
Headline spot cards use §4.
= Projected spot revenue18 167 USDm
= Spot EBITDA10 745 USDm
= EBITDA at 3y avg commodity prices8 612 USDm
5 · Valuation vs spot
Current EV vs spot EBITDA.
Enterprise value (current)65 345 USDm
EV ÷ Spot EBITDA6.1x
6 · Fair value & upside
Conservative used EBITDA × 3y average EV/EBITDA → fair market cap.
EBITDA at 3y avg commodity prices8 612 USDm
= Conservative used EBITDA9 678 USDm
3y average EV/EBITDA (fair multiple)8.3x
= Fair enterprise value80 608 USDm
Net debt (balance sheet)14 385 USDm
= Fair market cap66 223 USDm
Current market cap (implied)50 960 USDm
= Upside to fair mcap+30.0%

Flow: baseline → commodity prices → expense model → spot P&L → fair value (used EBITDA × 3y avg EV/EBITDA − net debt). Hover for formulas.

2025-12-31 · FY

Production & proved reserves

FY2025 average daily production and year-end 2025 proved reserves from SEC inline XBRL (SRT ProvedDevelopedAndUndevelopedReserveProductionEnergy MBoe + reserves BOE tags).

Line itemAmount
Crude oil equivalent (net, Mboe/d)921
Proved reserves (net, MMboe)3,618
Proved developed (net, MMboe)2,521
Proved undeveloped (net, MMboe)1,097

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 consolidated operating disclosure (Items 1-2): Selected Operating Data, Year Ended 12/31/2025; volumes tie to reserve roll-forward production line in FY2025 filing materials (fang-20251231.htm).

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil181.5 MMBbls64.04 USD/bbl11,620.886.4%
Natural gas447,855 MMcf0.89 USD/Mcf398.63.0%
NGLs80.1 MMBbls17.88 USD/bbl1,431.710.6%
Total (implied product revenue)13,451.1100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)13,453USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)1,573USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization5,038USD mln
Interest expense244USD mln
Impairment — oil & gas properties3,652USD mln
Income tax expense (benefit)327USD mln
Total costs and expenses (consolidated)13,760USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

FY2024 average daily production and year-end 2024 proved reserves per FY2024 earnings materials / Form 10-K.

Line itemAmount
Crude oil equivalent (net, Mboe/d)598.3
Proved reserves (net, MMboe)3,557
Proved developed (net, MMboe)2,385

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Selected Operating Data, Year Ended 12/31/2024 column (fang-20251231.htm).

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil123.3 MMBbls73.52 USD/bbl9,066.989.8%
Natural gas275,680 MMcf0.32 USD/Mcf88.20.9%
NGLs49.7 MMBbls18.99 USD/bbl943.89.3%
Total (implied product revenue)10,098.9100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)10,100USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)966USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization2,850USD mln
Interest expense135USD mln
Impairment — oil & gas properties0USD mln
Income tax expense (benefit)800USD mln
Total costs and expenses (consolidated)6,670USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

Approximate FY2023 average production and year-end 2023 proved reserves — see Form 10-K 2023.

Line itemAmount
Crude oil equivalent (net, Mboe/d)418.6
Proved reserves (net, MMboe)2,186

Sources

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)8,228USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)184USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization1,746USD mln
Interest expense159USD mln
Impairment — oil & gas properties0USD mln
Income tax expense (benefit)912USD mln
Total costs and expenses (consolidated)3,842USD mln

Primary SEC filing for this FY (HTML)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-141.1 USDEx-dividend: 1.1 USD per sharePaidYahoo Finance (ex-div)
2026-03-051.05 USDEx-dividend: 1.05 USD per sharePaidYahoo Finance (ex-div)
2025-11-131 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)
2025-08-141 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)
2025-05-151 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)
2025-03-061 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)
2024-11-140.9 USDEx-dividend: 0.9 USD per sharePaidYahoo Finance (ex-div)
2024-08-152.34 USDEx-dividend: 2.34 USD per sharePaidYahoo Finance (ex-div)
2024-05-141.97 USDEx-dividend: 1.97 USD per sharePaidYahoo Finance (ex-div)
2024-03-043.08 USDEx-dividend: 3.08 USD per sharePaidYahoo Finance (ex-div)
2023-11-153.37 USDEx-dividend: 3.37 USD per sharePaidYahoo Finance (ex-div)
2023-08-090.84 USDEx-dividend: 0.84 USD per sharePaidYahoo Finance (ex-div)
2023-05-100.83 USDEx-dividend: 0.83 USD per sharePaidYahoo Finance (ex-div)
2023-03-022.95 USDEx-dividend: 2.95 USD per sharePaidYahoo Finance (ex-div)
2022-11-162.26 USDEx-dividend: 2.26 USD per sharePaidYahoo Finance (ex-div)
2022-08-153.05 USDEx-dividend: 3.05 USD per sharePaidYahoo Finance (ex-div)
2022-05-113.05 USDEx-dividend: 3.05 USD per sharePaidYahoo Finance (ex-div)
2022-03-030.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2021-11-090.5 USDEx-dividend: 0.5 USD per sharePaidYahoo Finance (ex-div)
2021-08-110.45 USDEx-dividend: 0.45 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://ir.diamondbackenergy.com/

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)