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Matador Resources Company USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Permian and Eagle Ford focused independent oil and gas producer.

Sector: United States — oil & gas exploration & production

Geography: United States

US_EP_MTDR

Price chart

54.05 USDDay 0.80%

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
54.05 USD · 0.80%
Market cap
6.7 bn USD

Growth

Δ revenue y/y
-33.8%
Δ EBITDA y/y
-49.4%

Multiples

P/E (LTM)
13.9x
3y avg: 7.7x
P/B (FY)
1.2x
P/E (ann.)
<0
EV/EBITDA (LTM)
4.9x
3y avg: 3.1x
EV/EBITDA (ann.)
7.5x

Cash return

Dividend yield
2.7%
FCF yield (LTM)
-42.2%

Liquidity

Daily turnover (US listing)
44.2 mln USD

Shares: sec_companyfacts/1520006

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 7 / Err: 4 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-09-30 Q3⚠Warn 1
2023-12-31 FY✗Errors 1Warn 1
2024-03-31 Q1⚠Warn 1
2024-06-30 Q2⚠Warn 1
2024-09-30 Q3⚠Warn 1
2024-12-31 FY✗Errors 1Warn 1
2025-03-31 Q1⚠Warn 1
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3⚠Warn 1
2025-12-31 FY✗Errors 1Warn 1
2026-03-31 Q1✗Errors 1Warn 2
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M 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.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK671.6
y/y -33.8%
46.8
y/y -88.0%
292.7
y/y 3.8%
339.5
y/y -49.4%
-35.9
y/y -114.9%
470.5-457.912174.5
y/y 9.9%
5584.9
y/y 5.6%
-2.6%3438.5Link
2025-12-31Q4 2025 (3M)OK848.0
y/y -12.6%
242.7
y/y -32.6%
305.5
y/y 4.2%
548.3
y/y -16.1%
192.5
y/y -10.2%
474.4-588.011710.6
y/y 7.9%
5658.1
y/y 11.2%
13.6%448.9Link
2025-09-30Q3 2025 (3M)OK939.0
y/y 4.4%
306.0
y/y -22.0%
305.4
y/y 25.8%
611.3
y/y -3.7%
176.4
y/y -29.0%
721.7-563.011646.7
y/y 9.6%
5506.0
y/y 13.0%
4.3%264.9Link
2025-06-30Q2 2025 (3M)OK895.3
y/y 5.7%
288.7
y/y -20.6%
302.6
y/y 33.9%
591.3
y/y 0.3%
150.2
y/y -34.3%
501.0-495.011279.9
y/y 32.4%
5366.2
y/y 15.9%
11.3%379.5Link
2025-03-31Q1 2025 (3M)OK1014.0
y/y 28.7%
389.2
y/y 22.0%
281.9
y/y 32.8%
671.0
y/y 26.3%
240.1
y/y 23.9%
727.9-511.711082.0
y/y 34.7%
5287.5
y/y 19.7%
18.5%390.5Link
2024-12-31Q4 2024 (3M)OK970.4
y/y —
360.1
y/y —
293.2
y/y —
653.3
y/y —
214.5
y/y —
575.0-391.410850.1
y/y 40.4%
5089.1
y/y 30.1%
17.8%631.7Link
2024-09-30Q3 2024 (3M)OK899.8
y/y 16.5%
392.1
y/y 15.3%
242.8
y/y 25.9%
634.9
y/y 19.2%
248.3
y/y -5.9%
610.4-2160.610623.3
y/y 42.8%
4870.6
y/y 33.0%
7.0%931.7Link
2024-06-30Q2 2024 (3M)OK847.1
y/y —
363.6
y/y —
225.9
y/y —
589.6
y/y —
228.8
y/y —
592.9-576.88518.4
y/y —
4631.6
y/y —
20.2%1359.4Link
2024-03-31Q1 2024 (3M)OK787.7
y/y —
319.0
y/y —
212.3
y/y —
531.3
y/y —
193.7
y/y —
468.6-543.38227.3
y/y —
4418.2
y/y —
18.6%236.8Link
2023-12-31FY 2023 (12M)OK2806.8
y/y —
1209.3
y/y —
716.7
y/y —
1926.0
y/y —
846.1
y/y —
618.3-3211.27727.0
y/y —
3910.9
y/y —
22.3%485.5Link
2023-09-30Q3 2023 (3M)OK772.3
y/y —
340.0
y/y —
192.8
y/y —
532.8
y/y —
263.7
y/y —
461.0-423.67439.2
y/y —
3662.7
y/y —
—504.1Link
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
667.05 mln boe
2025
Reserve life (R/P)
8.8 yrs
reserves ÷ annual output
Annual production
75.58 mln boe
2025

Production, mln boe

9.11201510.18201614.21201719.03201824.16201927.51202031.45202138.49202248.11202362.49202475.582025

Proved reserves

YearReserves, mln boe
2025667.05
2024611.54
2023460.07
2022356.72
2021323.40
2020270.33
2019252.53
2018215.31
2017152.77

Production

YearProduction, mln boeper day
202575.58
+20.9%		207 071
202462.49
+29.9%		171 219
202348.11
+25.0%		131 814
202238.49
+22.4%		105 466
202131.45
+14.3%		86 175
202027.51
+13.9%		75 381
201924.16
+27.0%		66 203
201819.0352 126
201714.21 *38 937

* historical figures with reconstructed scale · * partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02505007501 0002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-60%-40%-20%0%20%2023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-2 000-1 500-1 000-50002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

01 0002 0003 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

EV/EBITDA — daily history

Current 4.9x · 3-year average 2.9x

EV/EBITDA3-year average

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): +13.2%

287.0271.2255.5239.8224.0202320242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves CAGR (2 yr): +2.1% · Reserves life (R/P): 6.4 yr

680.0670.0660.0650.0640.0202320242025Proved 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)
2025-12-31287667——
2024-12-31237680——
2023-12-31224640——

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
4 425 USDm
+25.7% vs LTM
Spot 12M EBITDA
3 047 USDm
+37.7% vs LTM
EV / Spot EBITDA
3.3x
current EV 10 152m ÷ spot EBITDA 3 047m
Upside to fair mcap
-20.4%
fair mcap 7 724 USDm
Show calculation
Line itemValue
1 · Reported baseline
LTM or latest FY revenue/EBITDA and revenue mix.
LTM revenue (last 4 quarters)3 520 USDm
LTM EBITDA (last 4 quarters)2 213 USDm
Baseline cash costs (revenue − EBITDA)1 307 USDm
Revenue mix: oil / gas / NGL / other87.7% / 12.3% / 0.0% / 0.0%
· Crude oil2 840 USDm (87.7% of implied)
· Natural gas398 USDm (12.3% 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 95.00 · LTM avg 72.84 · 3y avg — → spot move +30.4%
Gas — spot & 3y avg vs LTMspot 3.14 · LTM avg 3.41 · 3y avg — → spot move -7.8%
NGL — spot & 3y avg vs LTMspot 5 967.50 · LTM avg 4 983.59 · 3y avg — → spot move +19.7%
3 · Cash cost model
Purchased products scale with revenue; other costs inflate.
Purchased products / revenue0.0%
PPI inflation multiplier (12m)1.055
→ Projected purchased cost (at spot revenue)0 USDm
→ Projected other cash cost (inflated)1 379 USDm
4 · Spot forward P&L
Headline spot cards use §4.
= Projected spot revenue4 425 USDm
= Spot EBITDA3 047 USDm
= EBITDA at 3y avg commodity prices2 146 USDm
5 · Valuation vs spot
Current EV vs spot EBITDA.
Enterprise value (current)10 152 USDm
EV ÷ Spot EBITDA3.3x
6 · Fair value & upside
Conservative used EBITDA × 3y average EV/EBITDA → fair market cap.
EBITDA at 3y avg commodity prices2 146 USDm
= Conservative used EBITDA2 596 USDm
3y average EV/EBITDA (fair multiple)3.1x
= Fair enterprise value8 173 USDm
Net debt (balance sheet)449 USDm
= Fair market cap7 724 USDm
Current market cap (implied)9 703 USDm
= Upside to fair mcap-20.4%

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 net equivalent production and year-end 2025 proved reserves per Matador Form 10-K; production rounded from company-reported growth vs FY2024 patch baseline where needed.

Line itemAmount
Crude oil equivalent (net, Mboe/d)287
Proved reserves (net, MMboe)667

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 Item 1 'Operating Summary' unaudited production; average sales prices without realized derivatives (mtdr-20251231.htm). Two-stream disclosure — NGLs not split from gas.

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil43.7 MMBbls64.99 USD/bbl2,84087.7%
Natural gas191,300 MMcf2.08 USD/Mcf397.912.3%
Total (implied product revenue)3,237.9100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)3,696.3USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)120.5USD mln
Depreciation, depletion & amortization1,195.4USD mln
General & administrative137.1USD mln
Income tax expense (benefit)172.7USD mln
Total costs and expenses (consolidated)2,469.7USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

FY2024 net production and proved reserves — Matador Resources Form 10-K (rounded).

Line itemAmount
Crude oil equivalent (net, Mboe/d)237
Proved reserves (net, MMboe)680

Sources

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)3,505USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)93.9USD mln
Depreciation, depletion & amortization974.3USD mln
General & administrative127.5USD mln
Income tax expense (benefit)292.4USD mln
Total costs and expenses (consolidated)2,070.3USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

FY2023 — Form 10-K 2023 (rounded).

Line itemAmount
Crude oil equivalent (net, Mboe/d)224
Proved reserves (net, MMboe)640

Sources

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)2,806.8USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)65USD mln
Depreciation, depletion & amortization716.7USD mln
General & administrative110.4USD mln
Interest expense121.5USD mln
Income tax expense (benefit)186USD mln
Total costs and expenses (consolidated)1,597.5USD mln

Primary SEC filing for this FY (HTML)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-080.375 USDEx-dividend: 0.375 USD per sharePaidYahoo Finance (ex-div)
2026-02-270.375 USDEx-dividend: 0.375 USD per sharePaidYahoo Finance (ex-div)
2025-11-100.375 USDEx-dividend: 0.375 USD per sharePaidYahoo Finance (ex-div)
2025-08-150.313 USDEx-dividend: 0.313 USD per sharePaidYahoo Finance (ex-div)
2025-05-090.313 USDEx-dividend: 0.313 USD per sharePaidYahoo Finance (ex-div)
2025-02-280.313 USDEx-dividend: 0.313 USD per sharePaidYahoo Finance (ex-div)
2024-11-150.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2024-08-150.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2024-05-160.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2024-02-220.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2023-11-090.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2023-08-100.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2023-05-100.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2023-02-240.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2022-11-090.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2022-08-160.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2022-05-170.05 USDEx-dividend: 0.05 USD per sharePaidYahoo Finance (ex-div)
2022-03-030.05 USDEx-dividend: 0.05 USD per sharePaidYahoo Finance (ex-div)
2021-11-090.05 USDEx-dividend: 0.05 USD per sharePaidYahoo Finance (ex-div)
2021-08-110.025 USDEx-dividend: 0.025 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.matadorresources.com/

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