Viper Energy Financials
Viper Energy (VNOM) reported $1.4B in revenue for fiscal year 2025, up 62.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Viper’s 2025 economics split in two: cash generation strengthened while reported earnings were dragged down by expansion-heavy accounting.
In FY2025, operating cash flow was$1.05B while net income was-$206M , showing a much wider gap between cash and accounting profit than the prior year. Because total assets also jumped to$12.7B as investing cash outflow reached$2.42B , the loss reads more like the cost of a much larger asset base than a simple deterioration in cash collections.
The top line reached
Short-term liquidity looks easier than the tiny cash balance suggests: cash was only
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 Viper Energy'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.
Not available for Viper Energy, and counted as zero in the overall score.
Viper Energy scores 1.26, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($16.3B) relative to total liabilities ($8.2B). 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.
Viper Energy passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Viper Energy reported a net loss of $206.0M while generating $1.1B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Viper Energy generated $1.4B in revenue in fiscal year 2025. This represents an increase of 62.0% from the prior year.
Viper Energy reported -$206.0M in net income in fiscal year 2025. This represents a decrease of 134.1% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Viper Energy held $13.0M in cash against $2.2B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
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.
Viper Energy's net profit margin was -14.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 84.9 percentage points from the prior year.
Viper Energy's ROE was -4.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 40.4 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
VNOM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue | $2.0B | $1.4B+62.0% | $861.0M+4.0% | $828.0M | N/A | N/A |
| Operating Income | $251.0M | -$140.0M-124.7% | $567.0M-8.5% | $620.0M | N/A | N/A |
| Income Tax | $53.0M | -$19.0M+81.0% | -$100.0M-317.4% | $46.0M | N/A | N/A |
| Net Income | -$79.0M | -$206.0M-134.1% | $604.0M+20.6% | $501.0M-23.5% | $655.0M+154.9% | $257.0M |
| EPS (Diluted) | — | -$0.48 | $3.82+42.0% | $2.69 | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
VNOM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Total Assets | $12.7B+150.0% | $5.1B | N/A | N/A | N/A |
| Current Assets | $413.0M+73.5% | $238.0M | N/A | N/A | N/A |
| Cash & Equivalents | $13.0M-51.9% | $27.0M+3.8% | $26.0M | N/A | N/A |
| Total Liabilities | $8.2B+143.1% | $3.4B | N/A | N/A | N/A |
| Current Liabilities | $111.0M+126.5% | $49.0M | N/A | N/A | N/A |
| Long-Term Debt | $2.2B+101.8% | $1.1B | N/A | N/A | N/A |
| Total Equity | $4.4B+163.7% | $1.7B-41.0% | $2.9B+23.0% | $2.3B | N/A |
| Retained Earnings | -$278.0M-335.6% | $118.0M | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
VNOM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.5B | $1.1B+69.8% | $620.0M-2.8% | $638.0M | N/A | N/A |
| Investing Cash Flow | -$686.0M | -$2.4B-298.7% | -$608.0M+33.0% | -$908.0M | N/A | N/A |
| Financing Cash Flow | -$760.0M | $1.4B+12436.4% | -$11.0M-104.0% | $278.0M | N/A | N/A |
| Dividends Paid | $401.0M | $328.0M+49.8% | $219.0M+69.8% | $129.0M | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
VNOM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Operating Margin | -10.0%-75.9pp | 65.8%-9.0pp | 74.9% | N/A | N/A |
| Net Margin | -14.8%-84.9pp | 70.2%+9.6pp | 60.5% | N/A | N/A |
| Return on Equity | -4.6%-40.4pp | 35.8%+18.3pp | 17.5%-10.7pp | 28.2% | N/A |
| Return on Assets | -1.6%-13.6pp | 11.9% | N/A | N/A | N/A |
| Current Ratio | 3.72-1.1x | 4.86 | N/A | N/A | N/A |
| Debt-to-Equity | 0.49-0.2x | 0.64 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
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Where Viper Energy Ranks
Frequently Asked Questions
What is Viper Energy's annual revenue?
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.
How fast is Viper Energy's revenue growing?
Viper Energy (VNOM) revenue grew by 62.0% year-over-year, from $861.0M to $1.4B in fiscal year 2025.
Is Viper Energy profitable?
No, Viper Energy (VNOM) reported a net income of -$206.0M in fiscal year 2025, with a net profit margin of -14.8%.
How much debt does Viper Energy have?
As of fiscal year 2025, Viper Energy (VNOM) had $13.0M in cash and equivalents against $2.2B in long-term debt.
What is Viper Energy's operating margin?
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.
What is Viper Energy's net profit margin?
Viper Energy (VNOM) had a net profit margin of -14.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Viper Energy's return on equity (ROE)?
Viper Energy (VNOM) has a return on equity of -4.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Viper Energy's operating cash flow?
Viper Energy (VNOM) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Viper Energy's total assets?
Viper Energy (VNOM) had $12.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Viper Energy's current ratio?
Viper Energy (VNOM) had a current ratio of 3.72 as of fiscal year 2025, which is generally considered healthy.
What is Viper Energy's debt-to-equity ratio?
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.
What is Viper Energy's return on assets (ROA)?
Viper Energy (VNOM) had a return on assets of -1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Viper Energy's Altman Z-Score?
Viper Energy (VNOM) has an Altman Z-Score of 1.26, 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.
What is Viper Energy's Piotroski F-Score?
Viper Energy (VNOM) has a Piotroski F-Score of 3 out of 7 computable signals; 2 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.
Are Viper Energy's earnings high quality?
Viper Energy (VNOM) reported a net loss of $206.0M while generating $1.1B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
How financially healthy is Viper Energy?
Viper Energy (VNOM) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite 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. 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.