Viper Energy, Inc. (VNOM) 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 Oct 10, 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 VNOM SEC filings page.
Viper Energy, Inc. (VNOM) reported $2.0B in revenue over the twelve months to Jun 30, 2026. 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).
Revenue accelerated while profitability reversed, and the balance sheet expanded through heavy reinvestment supported by new financing.
FY2025 paired operating cash flow of$1.1B with a net loss of$206M , revealing a wide earnings-to-cash gap rather than a simple collapse in cash generation. That gap can reflect noncash charges or working-capital timing, while the $2.4B investing outflow shows expansion consumed more cash than operations produced.
Revenue rose
Total assets jumped from
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, 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.
Viper Energy, Inc. has an operating margin of -10.0%, meaning the company loses $10 on every $100 of revenue. This results in a profitability score of 71/100. This is down from 65.8% the prior year.
Viper Energy, Inc.'s revenue surged 62.0% year-over-year to $1.4B, reflecting rapid business expansion. This strong growth earns a score of 89/100.
Viper Energy, Inc. has a moderate D/E ratio of 0.49. This balance of debt and equity financing earns a leverage score of 62/100.
With a current ratio of 3.72, Viper Energy, Inc. holds $3.72 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 88/100.
Not available for Viper Energy, Inc., and counted as zero in the overall score.
Viper Energy, Inc. posts a -4.6% return on equity (ROE), meaning it loses $5 for every $100 of shareholders' equity. This results in a returns score of 27/100. This is down from 35.8% the prior year.
Viper Energy, Inc. scores 0.68, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($8.4B) 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, Inc. 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, Inc. 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.
Viper Energy, Inc. reported an operating loss of $140.0M against $96.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Viper Energy, Inc. generated $677.0M in revenue in Q2 2026. This represents an increase of 127.9% from the same quarter a year earlier. Against the prior quarter it is up 32.5%.
Viper Energy, Inc.'s EBITDA was $623.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 140.5% from the same quarter a year earlier.
Viper Energy, Inc. reported $142.0M in net income in Q2 2026. This represents an increase of 283.8% from the same quarter a year earlier. Against the prior quarter it is up 46.4%.
Viper Energy, Inc. earned $0.73 per diluted share (EPS) in Q2 2026. This represents an increase of 160.7% from the same quarter a year earlier. Against the prior quarter it is up 37.7%.
Cash & Balance Sheet
Viper Energy, Inc. held $77.0M in cash against $1.7B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Viper Energy, Inc.'s operating margin was 63.2% in Q2 2026, reflecting core business profitability. This is up 17.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.7 percentage points.
Viper Energy, Inc.'s net profit margin was 21.0% in Q2 2026, showing the share of revenue converted to profit. This is up 8.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.
Viper Energy, Inc.'s ROE was 2.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
VNOM 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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $677.0M+127.9% | $511.0M+108.6% | $435.0M | $418.0M+98.1% | $297.0M | $245.0M | N/A | $211.0M |
| Operating Income | $428.0M+217.0% | $253.0M+63.2% | -$254.0M | -$176.0M-229.4% | $135.0M | $155.0M | N/A | $136.0M |
| EBITDA | $623.0M+140.5% | N/A | N/A | N/A | $259.0M | N/A | N/A | N/A |
| Interest Expense | $24.0M+60.0% | $27.0M+107.7% | $36.0M | $32.0M+100.0% | $15.0M | $13.0M | N/A | $16.0M |
| Income Tax | $72.0M+928.6% | $28.0M+33.3% | -$21.0M | -$26.0M-244.4% | $7.0M | $21.0M | N/A | $18.0M |
| Net Income | $142.0M+283.8% | $97.0M+29.3% | -$241.0M | -$77.0M-257.1% | $37.0M-69.9% | $75.0M-24.2% | N/A | $49.0M |
| EPS (Basic) | $0.73+160.7% | $0.54-12.9% | -$0.73-133.5% | -$0.52-200.0% | $0.28 | $0.62 | $2.18 | $0.52 |
| EPS (Diluted) | $0.73+160.7% | $0.53 | -$0.73-133.5% | -$0.52 | $0.28 | $0.62 | $2.18 | $0.52 |
| Diluted Shares (Avg) | 194M+47.7% | 181M | N/A | 149M | 131M | 121M | N/A | 94M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses.
VNOM 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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.1B | $12.0B | $12.7B+150.0% | $13.7B | N/A | N/A | $5.1B | N/A |
| Current Assets | $580.0M | $469.0M | $413.0M+73.5% | $887.0M | N/A | N/A | $238.0M | N/A |
| Cash & Equivalents | $77.0M+175.0% | $28.0M-95.0% | $13.0M-51.9% | $53.0M-68.6% | $28.0M | $560.0M | $27.0M | $169.0M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $7.0B | $6.9B | $8.2B+143.1% | $9.1B | N/A | N/A | $3.4B | N/A |
| Current Liabilities | $91.0M | $76.0M | $111.0M+126.5% | $472.0M | N/A | N/A | $49.0M | N/A |
| Non-Current Liabilities | $6.9B | $6.9B | $8.1B+143.4% | $8.6B | N/A | N/A | $3.3B | N/A |
| Long-Term Debt | $1.7B | $1.6B | $2.2B+101.8% | $2.2B | N/A | N/A | $1.1B | N/A |
| Total Equity | $5.0B-41.5% | $5.1B-3.9% | $4.4B+163.7% | $4.6B+38.5% | $8.6B+199.6% | $5.3B+85.9% | $1.7B | $3.3B |
| Retained Earnings | -$273.0M | -$281.0M | -$278.0M-335.6% | -$76.0M | N/A | N/A | $118.0M | 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. 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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $487.0M+183.1% | $328.0M+63.2% | $399.0M+152.5% | $281.0M | $172.0M | $201.0M | $158.0M | N/A |
| Depreciation & Amortization | $195.0M+57.3% | N/A | N/A | N/A | $124.0M | N/A | N/A | N/A |
| Investing Cash Flow | -$103.0M+86.7% | $581.0M+219.5% | -$67.0M+84.2% | -$1.1B | -$774.0M | -$486.0M | -$425.0M | N/A |
| Financing Cash Flow | -$335.0M-578.6% | -$894.0M-209.3% | -$762.0M-709.6% | $1.2B | $70.0M | $818.0M | $125.0M | N/A |
| Dividends Paid | $133.0M+77.3% | $100.0M+17.6% | $99.0M+59.7% | $69.0M | $75.0M | $85.0M | $62.0M | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
VNOM 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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 63.2%+17.8pp | 49.5%-13.8pp | -58.4% | -42.1%-106.6pp | 45.5% | 63.3% | N/A | 64.5% |
| Net Margin | 21.0%+8.5pp | 19.0%-11.6pp | -55.4% | -18.4%-41.6pp | 12.5% | 30.6% | N/A | 23.2% |
| Return on Equity | 2.8%+2.4pp | 1.9%+0.5pp | -5.4% | -1.7%-3.1pp | 0.4%-3.9pp | 1.4%-2.0pp | N/A | 1.5% |
| Return on Assets | 1.2% | 0.8% | -1.9% | -0.6% | N/A | N/A | N/A | N/A |
| Current Ratio | 6.37 | 6.17 | 3.72-1.1x | 1.88 | N/A | N/A | 4.86 | N/A |
| Debt-to-Equity | 0.33 | 0.31 | 0.49-0.2x | 0.49 | N/A | N/A | 0.64 | N/A |
| Asset Turnover | 0.06 | 0.04 | 0.03 | 0.03 | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
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.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Viper Energy, Inc. VNOM | FY2025 | $1.4B | -$206.0M | -14.8% | $8.4B | 56/100 |
| Plains All American Pipeline, L.P. Common Units PAA | FY2025 | $44.3B | $1.8B | 4.0% | $17.2B | 37/100 |
| Western Midstream Partners, LP WES | FY2025 | $3.8B | $1.2B | 30.7% | $18.8B | 54/100 |
| DT Midstream, Inc. DTM | FY2025 | $1.2B | $441.0M | 35.5% | $12.7B | 64/100 |
| Targa Resources Corp. TRGP | FY2025 | $17.0B | $1.9B | 11.3% | $61.5B | 45/100 |
Where Viper Energy, Inc. Ranks
Frequently Asked Questions
What is Viper Energy, Inc.'s annual revenue?
Viper Energy, Inc. (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, Inc.'s revenue growing?
Viper Energy, Inc. (VNOM) revenue grew by 62.0% year-over-year, from $861.0M to $1.4B in fiscal year 2025.
Is Viper Energy, Inc. profitable?
No, Viper Energy, Inc. (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, Inc. have?
As of fiscal year 2025, Viper Energy, Inc. (VNOM) had $13.0M in cash and equivalents against $2.2B in long-term debt.
What is Viper Energy, Inc.'s operating margin?
Viper Energy, Inc. (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, Inc.'s net profit margin?
Viper Energy, Inc. (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, Inc.'s return on equity (ROE)?
Viper Energy, Inc. (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, Inc.'s operating cash flow?
Viper Energy, Inc. (VNOM) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Viper Energy, Inc.'s total assets?
Viper Energy, Inc. (VNOM) had $12.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Viper Energy, Inc.'s current ratio?
Viper Energy, Inc. (VNOM) had a current ratio of 3.72 as of fiscal year 2025, which is generally considered healthy.
What is Viper Energy, Inc.'s debt-to-equity ratio?
Viper Energy, Inc. (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, Inc.'s return on assets (ROA)?
Viper Energy, Inc. (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, Inc.'s P/E ratio?
Viper Energy, Inc. (VNOM) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $8.4B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Viper Energy, Inc.'s price-to-sales ratio?
Viper Energy, Inc. (VNOM) trades at 4.1x sales, its market capitalization divided by revenue of $2.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $8.4B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Viper Energy, Inc.'s Altman Z-Score?
Viper Energy, Inc. (VNOM) has an Altman Z-Score of 0.68, 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, Inc.'s Piotroski F-Score?
Viper Energy, Inc. (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, Inc.'s earnings high quality?
Viper Energy, Inc. (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.
Can Viper Energy, Inc. cover its interest payments?
Viper Energy, Inc. (VNOM) reported an operating loss of $140.0M against $96.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.
How financially healthy is Viper Energy, Inc.?
Viper Energy, Inc. (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.