Diamondback Energy (FANG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FANG SEC filings page.
Diamondback Energy, Inc. (FANG) reported $17.1B in revenue over the twelve months to Jun 30, 2026, up 21.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue expanded sharply, but profitability compressed as a much larger asset base produced weaker operating returns and heavier short-term obligations.
In FY2025, revenue rose35.8% while operating income fell71.2% , showing added volume did not translate into operating profit. Meanwhile, operating cash flow rose36.6% while reaching526.3% of net income, a pattern consistent with depreciation and other non-cash expenses carrying much of cash conversion.
Assets grew
Current ratio was 0.4x in FY2025 as long-term debt rose
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Diamondback Energy, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Diamondback Energy, Inc. has an operating margin of 8.4%, meaning the company retains $8 of operating profit per $100 of revenue. This strong profitability earns a score of 70/100, reflecting efficient cost management and pricing power. This is down from 39.7% the prior year.
Diamondback Energy, Inc.'s revenue surged 35.8% year-over-year to $15.0B, reflecting rapid business expansion. This strong growth earns a score of 94/100.
Diamondback Energy, Inc. has elevated debt relative to equity (D/E of 0.37), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 29/100, reflecting increased financial risk.
Diamondback Energy, Inc.'s current ratio of 0.42 is below the typical benchmark, resulting in a score of 3/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Not available for Diamondback Energy, Inc., so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
Diamondback Energy, Inc.'s ROE of 4.5% shows moderate profitability relative to equity, earning a score of 43/100. This is down from 8.8% the prior year.
Diamondback Energy, Inc. scores 1.51, below the 1.81 distress threshold. The score is pulled down most by current liabilities exceeding current assets by $2.7B against total assets of $71.1B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Diamondback Energy, Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
For every $1 of reported earnings, Diamondback Energy, Inc. generates $5.26 in operating cash flow ($8.8B OCF vs $1.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Diamondback Energy, Inc. earns $5.19 in operating income for every $1 of interest expense ($1.3B vs $244.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Diamondback Energy, Inc. generated $5.6B in revenue in Q2 2026. This represents an increase of 51.2% from the same quarter a year earlier. Against the prior quarter it is up 31.2%.
Diamondback Energy, Inc.'s EBITDA was $3.8B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 57.3% from the same quarter a year earlier. Against the prior quarter it is up 168.6%.
Diamondback Energy, Inc. reported $1.9B in net income in Q2 2026. This represents an increase of 169.2% from the same quarter a year earlier. Against the prior quarter it is up 7428.0%.
Diamondback Energy, Inc. earned $6.65 per diluted share (EPS) in Q2 2026. This represents an increase of 179.4% from the same quarter a year earlier. Against the prior quarter it is up 8212.5%.
Cash & Balance Sheet
Diamondback Energy, Inc. held $462.0M in cash against $11.1B in long-term debt as of Q2 2026.
Diamondback Energy, Inc. paid $1.10 per share in dividends in Q2 2026. This represents an increase of 10.0% from the same quarter a year earlier. Against the prior quarter it is up 4.8%.
Not reported for Q2 2026.
Margins & Returns
Diamondback Energy, Inc.'s operating margin was 45.2% in Q2 2026, reflecting core business profitability. This is up 14.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 42.4 percentage points.
Diamondback Energy, Inc.'s net profit margin was 33.8% in Q2 2026, showing the share of revenue converted to profit. This is up 14.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 33.2 percentage points.
Diamondback Energy, Inc.'s quarterly ROE was 5.0% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.9 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
FANG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.6B+51.2% | $4.2B+4.7% | $3.4B-9.0% | $3.9B+48.4% | $3.7B+48.1% | $4.0B+81.8% | $3.7B+66.6% | $2.6B+13.0% |
| SG&A Expenses | $72.0M+7.5% | $79.0M+8.2% | $78.0M+8.3% | $70.0M+42.9% | $67.0M+45.7% | $73.0M+58.7% | $72.0M+84.6% | $49.0M+44.1% |
| Operating Income | $2.5B+120.5% | $116.0M-93.1% | -$2.8B-297.0% | $1.2B+74.1% | $1.1B-1.5% | $1.7B+49.6% | $1.4B+17.2% | $710.0M-47.0% |
| EBITDA | $3.8B+57.3% | $1.4B-49.1% | -$1.4B-154.2% | $2.5B+73.7% | $2.4B+46.7% | $2.8B+74.5% | $2.6B+53.4% | $1.5B-18.5% |
| Interest Expense | $56.0M0.0% | $63.0M+57.5% | $78.0M+129.4% | $70.0M+288.9% | $56.0M+27.3% | $40.0M+2.6% | $34.0M+25.9% | $18.0M-51.4% |
| Income Tax | $580.0M+184.3% | $32.0M-92.1% | -$567.0M-593.0% | $287.0M+36.7% | $204.0M-19.0% | $403.0M+80.7% | $115.0M-56.4% | $210.0M-23.9% |
| Net Income | $1.9B+169.2% | $25.0M-98.2% | -$1.5B-235.8% | $1.0B+54.5% | $699.0M-16.5% | $1.4B+82.9% | $1.1B+11.9% | $659.0M-28.0% |
| EPS (Basic) | $6.65+179.4% | $0.08-98.3% | -$4.98-241.1% | $3.51+10.0% | $2.38 | $4.83 | $3.53 | $3.19-37.1% |
| EPS (Diluted) | $6.65+179.4% | $0.08-98.3% | -$4.98-241.1% | $3.51+10.0% | $2.38 | $4.83 | $3.53 | $3.19-37.1% |
| Diluted Shares (Avg) | 281M-3.7% | 283M-2.4% | N/A | 289M+41.1% | 292M | 290M | N/A | 205M+14.5% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
FANG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $70.2B-2.4% | $70.1B0.0% | $71.1B+5.6% | $76.2B+15.9% | $71.9B+101.9% | $70.1B+136.0% | $67.3B+132.0% | $65.7B+134.4% |
| Current Assets | $2.6B+28.3% | $2.7B-33.8% | $1.9B-9.2% | $2.6B+27.6% | $2.1B-73.6% | $4.1B+109.6% | $2.1B+30.2% | $2.0B+5.5% |
| Cash & Equivalents | $462.0M+111.0% | $174.0M-90.4% | $104.0M-35.4% | $159.0M-57.0% | $219.0M-96.8% | $1.8B+102.7% | $161.0M-72.3% | $370.0M-55.3% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $67.0M-41.7% | $79.0M-32.5% | $86.0M-25.9% | $86.0M-31.7% | $115.0M+109.1% | $117.0M+105.3% | $116.0M+84.1% | $126.0M+80.0% |
| Accounts Receivable | $1.7B+30.6% | $1.8B+37.5% | $1.1B-18.7% | $1.3B+6.9% | $1.3B+79.7% | $1.3B+81.7% | $1.4B+112.1% | $1.2B+51.7% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $26.2B-9.9% | $27.4B-3.1% | $28.1B+2.4% | $30.6B+13.6% | $29.1B+70.2% | $28.3B+142.7% | $27.4B+137.1% | $26.9B+143.4% |
| Current Liabilities | $5.7B+51.1% | $4.8B+1.3% | $4.6B-4.4% | $4.1B-7.2% | $3.8B+75.9% | $4.8B+124.4% | $4.8B+128.2% | $4.5B+108.5% |
| Non-Current Liabilities | $20.6B-19.0% | $22.6B-4.0% | $23.5B+3.9% | $26.4B+17.7% | $25.4B+69.4% | $23.6B+146.7% | $22.6B+139.0% | $22.5B+151.7% |
| Long-Term Debt | $11.1B-26.8% | $13.1B+1.2% | $13.7B+13.7% | $15.8B+32.9% | $15.1B+26.2% | $13.0B+96.0% | $12.1B+81.8% | $11.9B+91.4% |
| Total Equity | $37.9B-2.5% | $36.5B-5.2% | $37.0B-2.0% | $39.1B+4.4% | $38.9B+122.8% | $38.5B+127.0% | $37.7B+127.0% | $37.4B+129.9% |
| Retained Earnings | $6.0B+4.9% | $4.5B-16.5% | $4.7B+11.8% | $6.5B+89.3% | $5.8B+80.7% | $5.4B+97.9% | $4.2B+70.3% | $3.4B+60.4% |
Not reported in any period shown, so not listed: Goodwill.
FANG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.6B+114.0% | $1.8B-22.4% | $2.3B+0.1% | $2.4B+97.1% | $1.7B+9.7% | $2.4B+76.5% | $2.3B+44.2% | $1.2B-11.0% |
| Depreciation & Amortization | $1.3B+0.5% | $1.3B+17.9% | $1.4B+20.2% | $1.3B+73.3% | $1.3B+162.1% | $1.1B+133.9% | $1.2B+146.5% | $742.0M+67.9% |
| Stock-Based Compensation | N/A | N/A | N/A | N/A | N/A | $18.0M+28.6% | N/A | N/A |
| Investing Cash Flow | -$1.4Bn/m | -$658.0Mn/m | -$118.0Mn/m | -$2.1Bn/m | -$4.0Bn/m | -$1.7Bn/m | -$1.9Bn/m | -$8.2B-54540.0% |
| Financing Cash Flow | -$1.9B-495.4% | -$1.1B-193.6% | -$2.7Bn/m | $7.0M-98.3% | $482.0M-90.2% | $1.2Bn/m | -$695.0Mn/m | $419.0Mn/m |
| Dividends Paid | $310.0M+6.5% | $295.0M+1.7% | $286.0M+9.2% | $289.0M-30.5% | $291.0M-17.3% | $290.0M-47.1% | $262.0M-56.6% | $416.0M+179.2% |
| Share Buybacks | N/A | N/A | N/A | $603.0M+17.1% | $398.0Mn/m | $575.0M+1269.0% | $402.0M+206.9% | $515.0M+819.6% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
FANG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 45.2%+14.2pp | 2.7%-38.6pp | -82.4%-120.5pp | 31.5%+4.7pp | 31.0%-15.6pp | 41.3%-8.9pp | 38.0%-16.0pp | 26.8%-30.4pp |
| Net Margin | 33.8%+14.8pp | 0.6%-34.1pp | -43.2%-72.1pp | 25.9%+1.0pp | 19.0%-14.7pp | 34.7%+0.2pp | 28.9%-14.2pp | 24.9%-14.2pp |
| Return on Equity | 5.0%+3.2pp | 0.1%-3.6pp | -3.9%-6.8pp | 2.6%+0.8pp | 1.8%-3.0pp | 3.6%-0.9pp | 2.9%-2.9pp | 1.8%-3.9pp |
| Return on Assets | 2.7%+1.7pp | 0.0%-2.0pp | -2.1%-3.7pp | 1.3%+0.3pp | 1.0%-1.4pp | 2.0%-0.6pp | 1.6%-1.7pp | 1.0%-2.3pp |
| Current Ratio | 0.47-0.1x | 0.56-0.3x | 0.420.0x | 0.62+0.2x | 0.55-3.1x | 0.86-0.1x | 0.44-0.3x | 0.45-0.4x |
| Debt-to-Equity | 0.29-0.1x | 0.360.0x | 0.37+0.1x | 0.41+0.1x | 0.39-0.3x | 0.34-0.1x | 0.32-0.1x | 0.32-0.1x |
| Liabilities-to-Equity | 0.69-0.1x | 0.750.0x | 0.760.0x | 0.78+0.1x | 0.75-0.2x | 0.740.0x | 0.730.0x | 0.720.0x |
| Asset Turnover | 0.080.0x | 0.060.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.060.0x | 0.060.0x | 0.040.0x |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.42), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Diamondback Energy, Inc. FANG | FY2025 | $15.0B | $1.7B | 11.1% | $55.9B | 48/100 |
| Devon Energy Corporation DVN | FY2025 | $17.2B | $2.6B | 15.4% | $53.5B | 66/100 |
| Occidental Petroleum Corporation OXY | FY2025 | $21.6B | $2.3B | 10.8% | $60.7B | 55/100 |
| EOG Resources, Inc. EOG | FY2025 | $22.6B | $5.0B | 22.0% | $82.8B | 70/100 |
| Woodside Energy Group Limited WDS | FY2025 | $13.0B | $2.7B | 20.9% | $42.9B | 56/100 |
| EQT Corp EQT | FY2025 | $8.6B | $2.0B | 23.6% | $34.3B | 52/100 |
Where Diamondback Energy, Inc. Ranks
Frequently Asked Questions
Diamondback Energy, Inc. (FANG) reported $15.0B in total revenue for fiscal year 2025. This represents a 35.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Diamondback Energy, Inc. (FANG) revenue grew by 35.8% year-over-year, from $11.1B to $15.0B in fiscal year 2025.
Yes, Diamondback Energy, Inc. (FANG) reported a net income of $1.5B over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $1.7B, with a net profit margin of 11.1%.
Diamondback Energy, Inc. (FANG) had EBITDA of $6.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Diamondback Energy, Inc. (FANG) had $104.0M in cash and equivalents against $13.7B in long-term debt.
Diamondback Energy, Inc. (FANG) had an operating margin of 8.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Diamondback Energy, Inc. (FANG) had a net profit margin of 11.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Yes, Diamondback Energy, Inc. (FANG) paid $4.00 per share in dividends during fiscal year 2025.
Diamondback Energy, Inc. (FANG) has a return on equity of 4.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Diamondback Energy, Inc. (FANG) generated $8.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Diamondback Energy, Inc. (FANG) had $71.1B in total assets as of fiscal year 2025, including both current and long-term assets.
Diamondback Energy, Inc. (FANG) had a current ratio of 0.42 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Diamondback Energy, Inc. (FANG) had a debt-to-equity ratio of 0.37 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Diamondback Energy, Inc. (FANG) had a liabilities-to-equity ratio of 0.76 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Diamondback Energy, Inc. (FANG) had a return on assets of 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Diamondback Energy, Inc. (FANG) trades at 38.1x earnings, its market capitalization divided by $1.5B net income, trailing 12 months to June 30, 2026. The market capitalization is $55.9B as of Nov 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Diamondback Energy, Inc. (FANG) trades at 3.3x sales, its market capitalization divided by $17.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $55.9B as of Nov 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Diamondback Energy, Inc. (FANG) has an Altman Z-Score of 1.51, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
Diamondback Energy, Inc. (FANG) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Diamondback Energy, Inc. (FANG) has an earnings quality ratio of 5.26x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Diamondback Energy, Inc. (FANG) has an interest coverage ratio of 5.19x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
Diamondback Energy, Inc. (FANG) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Diamondback Energy, Inc. it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.