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Viper Energy Financials

VNOM
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Viper Energy (VNOM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 55 / 100
Financial Profile 55/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Viper Energy has an operating margin of -10.0%, meaning the company retains $-10 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 65.8% the prior year.

Growth
100

Viper Energy's revenue surged 62.0% year-over-year to $1.4B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage
92

Viper Energy carries a low D/E ratio of 0.49, meaning only $0.49 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
73

With a current ratio of 3.72, Viper Energy holds $3.72 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 73/100.

Returns
8

Viper Energy generates a -1.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 8/100. This is down from 21.3% the prior year.

Piotroski F-Score Weak
3/9

Viper Energy passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed
-15.49x

For every $1 of reported earnings, Viper Energy generates $-15.49 in operating cash flow ($1.1B OCF vs -$68.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue
$1.4B
YoY+62.0%

Viper Energy generated $1.4B in revenue in fiscal year 2025. This represents an increase of 62.0% from the prior year.

EBITDA
N/A
Net Income
-$68.0M
YoY-118.9%

Viper Energy reported -$68.0M in net income in fiscal year 2025. This represents a decrease of 118.9% from the prior year.

EPS (Diluted)
$-0.48
YoY-112.6%

Viper Energy earned $-0.48 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 112.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$13.0M
YoY-51.9%

Viper Energy held $13.0M in cash against $2.2B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
N/A
Operating Margin
-10.0%
YoY-75.9pp

Viper Energy's operating margin was -10.0% in fiscal year 2025, reflecting core business profitability. This is down 75.9 percentage points from the prior year.

Net Margin
-4.9%
YoY-46.6pp

Viper Energy's net profit margin was -4.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 46.6 percentage points from the prior year.

Return on Equity
-1.5%
YoY-22.8pp

Viper Energy's ROE was -1.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 22.8 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

VNOM Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue N/A $418.0M N/A N/A N/A $211.0M N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A N/A
Operating Income N/A -$176.0M N/A N/A N/A $136.0M N/A N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A -$26.0M N/A N/A N/A $18.0M N/A N/A
Net Income N/A -$77.0M-191.7% $84.0M-45.1% $153.0M N/A $49.0M-60.2% $123.0M+24.2% $99.0M
EPS (Diluted) N/A $-0.52 N/A N/A N/A $0.52 N/A N/A

VNOM Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $12.7B-7.4% $13.7B N/A N/A $5.1B N/A N/A N/A
Current Assets $413.0M-53.4% $887.0M N/A N/A $238.0M N/A N/A N/A
Cash & Equivalents $13.0M-75.5% $53.0M N/A N/A $27.0M-84.0% $169.0M N/A N/A
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $8.2B-9.3% $9.1B N/A N/A $3.4B N/A N/A N/A
Current Liabilities $111.0M-76.5% $472.0M N/A N/A $49.0M N/A N/A N/A
Long-Term Debt $2.2B-2.5% $2.2B N/A N/A $1.1B N/A N/A N/A
Total Equity $4.4B-3.7% $4.6B-46.3% $8.6B+61.8% $5.3B+215.5% $1.7B-49.4% $3.3B+16.1% $2.9B+0.3% $2.9B
Retained Earnings -$278.0M-265.8% -$76.0M N/A N/A $118.0M N/A N/A N/A

VNOM Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $399.0M N/A N/A N/A $158.0M N/A N/A N/A
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow -$67.0M N/A N/A N/A -$425.0M N/A N/A N/A
Financing Cash Flow -$762.0M N/A N/A N/A $125.0M N/A N/A N/A
Dividends Paid $99.0M N/A N/A N/A $62.0M N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

VNOM Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A -42.1% N/A N/A N/A 64.5% N/A N/A
Net Margin N/A -18.4% N/A N/A N/A 23.2% N/A N/A
Return on Equity N/A -1.7%-2.6pp 1.0%-1.9pp 2.9% N/A 1.5%-2.8pp 4.3%+0.8pp 3.5%
Return on Assets N/A -0.6% N/A N/A N/A N/A N/A N/A
Current Ratio 3.72+1.8 1.88 N/A N/A 4.86 N/A N/A N/A
Debt-to-Equity 0.490.0 0.49 N/A N/A 0.64 N/A N/A N/A
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

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Frequently Asked Questions

Viper Energy (VNOM) reported $1.4B in total revenue for fiscal year 2025. This represents a 62.0% 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.

Viper Energy (VNOM) revenue grew by 62% year-over-year, from $861.0M to $1.4B in fiscal year 2025.

No, Viper Energy (VNOM) reported a net income of -$68.0M in fiscal year 2025, with a net profit margin of -4.9%.

Viper Energy (VNOM) reported diluted earnings per share of $-0.48 for fiscal year 2025. This represents a -112.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, Viper Energy (VNOM) had $13.0M in cash and equivalents against $2.2B in long-term debt.

Viper Energy (VNOM) had an operating margin of -10.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Viper Energy (VNOM) had a net profit margin of -4.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Viper Energy (VNOM) has a return on equity of -1.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Viper Energy (VNOM) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Viper Energy (VNOM) had $12.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Viper Energy (VNOM) had a current ratio of 3.72 as of fiscal year 2025, which is generally considered healthy.

Viper Energy (VNOM) had a debt-to-equity ratio of 0.49 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Viper Energy (VNOM) had a return on assets of -0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Viper Energy (VNOM) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Viper Energy (VNOM) has an earnings quality ratio of -15.49x, considered mixed 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.

Viper Energy (VNOM) scores 55 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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