— Know what they know.
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Not Investment Advice

FANG

NASDAQ · USD
Diamondback Energy, Inc.
Energy · Oil & Gas Exploration & Production
CEO Matthew Kaes Van't Hof Employees 1,762 R&D / revenue 0.0%
Last price
$203.95+4.27%last session
Market cap
$57.1B
P/E (TTM)
39.8x
From 52w high
−6.0%
From 52w low
+48.8%
1-year return
+47.3%
RSI 14 · vs SMA200
64.4 · +9.3%
IS score
49.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

FANG   SPY   XLE (sector ETF) · weekly closes
100120140160Jan 26Apr 26Jul 26Oct 26XLE 160FANG 147SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
59
Profitability
38
Growth
59
Value
68
Momentum
30
Risk (safety)
81
Quality
59
Balance sheet
65
Earnings quality

Flags

Strengths
✓ FCF yield 5%+
Warnings
▲ Altman distress zone
Observations
Moat model: Weak, Efficient ScalePiotroski 7 / 9Altman Z 1.5Beta 0.412 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
41 open-market sales, $4.0B
Form 144 notices (12m): 38, $4.1B proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−2
143 new holders, 129 closed
1,194 filers hold 72.0% · 466 added, 400 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+443
1,178 funds adding shares
735 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
44.0%
20-day avg 43.0%, 50-day avg 43.9%
Latest 1.0 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$15.0B
Revenue growth YoY+36.3%
Gross margin35.2%
Operating income$4.9B
Operating margin32.7%
Net income$1.7B
Net margin11.1%
EPS (diluted)$5.73
Cash flow
Operating cash flow$8.8B
Capital expenditure$3.5B
Free cash flow$5.2B
FCF conversion (FCF / OCF)59.8%
Stock-based compensation$0
FCF less SBC$5.2B
Buybacks$2.0B
Dividends$1.2B
Balance sheet & returns
Cash & short-term investments$106.0M
Total debt$14.5B
Net debt$14.4B
Shareholders' equity$43.0B
Goodwill & intangibles$0
Debt / equity0.33
ROE (TTM)4.2%
ROIC (TTM)5.9%
Operating margin by fiscal year
58.9%FY202167.5%FY202254.4%FY202339.9%FY202432.8%FY2025
Revenue $6.7B (FY2021) to $15.0B (FY2025), a 22.2% CAGR.

Valuation

P/E (TTM)39.8x
EV / EBITDA9.7x
Price / sales3.34x
Price / FCF8.8x
FCF yield11.38%
Buyback yield3.52%
SBC / revenue0.1%
Price / book1.51x
Forward P/E FY20269.2x
Forward P/E FY202710.1x
Forward P/E FY202810.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $233.38 across 13 analysts last quarter is theirs, not ours.

FANG vs industry median

473 companies in Oil & Gas Exploration & Production
Gross margin 44.5% 45.9% Operating margin 27.7% 19.2% Net margin 9.3% 12.3% ROIC 5.9% 5.3%
FANG (TTM)Industry median Asset turnover 0.24 vs industry 0.24 · financial leverage 1.85

Earnings delivery

Next report 2026-11-02 · consensus EPS $5.46
75%
beat rate, 9 of 12 quarters
+1.9%
median EPS surprise
4
longest beat streak
+10+2+2+0-15+2+9-3+5-13+13+7
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-06 to 2026-08-03. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
FANG Diamondback Energy, Inc. $57.1B39.8x4.2%9.3%+36.3% +47.3%
DVN Devon Energy Corporation $55.8B12.0x11.5%25.8%+17.0% +62.4%
OXY Occidental Petroleum Corpora $62.4B9.4x18.7%35.8%−7.5% +52.9%
WDS Woodside Energy Group Ltd $44.8B14.5x17.0%22.5%−10.8% +62.5%
EOG EOG Resources, Inc. $82.9B12.2x22.5%31.6%+17.8% +53.5%
EQT EQT Corporation $34.0B11.9x12.2%15.6%+16.0% —
TPL Texas Pacific Land Corporati $24.2B44.7x36.6%62.6%+20.8% —
EXE Expand Energy Corporation $21.6B8.0x14.9%17.6%+56.8% —
12-month window: SPY +15.9%, sector ETF XLE +60.0%. Past returns describe history only.

Recent 8-K filings

2026-10-08Earnings Release
2026-09-30Material Agreement; Officer/Director Change; Exhibits
2026-08-03Earnings Release; Exhibits
2026-07-13Earnings Release
2026-06-15Material Agreement; Financial Obligation; Exhibits
2026-05-20Officer/Director Change; Shareholder Vote

Context

Shares outstanding280,024,000
Free float76.2%
Institutional ownership72.0%
Beta0.41
Dividend yield2.08%
Last dividend$1.10 on 2026-08-13
50 / 200-day average$196.73 / $186.56
Large-cap Energy median P/E17.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where FANG sits among 48 scored companies in Oil & Gas Exploration & Production (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureFANGIndustry medianIndustry percentileSector median
P/E (TTM) 36.0x 11.0x
91st		 16.6x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 3.3x 2.0x
81st		 1.8x
Price / book 1.5x 1.5x
57th		 1.9x
Price / tangible book 1.3x 1.3x
48th		 1.9x
Price / free cash flow 8.8x 11.4x
35th		 11.9x
Price / operating cash flow 5.6x 4.5x
65th		 6.9x
Enterprise value $69.3B $6.1B
94th		 $5.3B
EV / sales 4.0x 2.7x
81st		 2.4x
EV / EBITDA 9.7x 6.0x
75th		 9.0x
EV / EBIT 37.1x 10.0x
94th		 14.1x
EV / free cash flow 10.7x 12.3x
43rd		 14.6x
Earnings yield 2.8% 6.5%
34th		 4.6%
FCF yield 11.4% 8.4%
72nd		 5.8%
Operating cash flow yield 17.8% 21.3%
36th		 13.6%
Graham number (per share) $130.78 $45.98
85th		 $32.92

Profitability (TTM)

MeasureFANGIndustry medianIndustry percentileSector median
Gross margin 44.5% 48.6%
43rd		 31.9%
EBITDA margin 41.7% 48.0%
36th		 26.7%
Operating margin 27.7% 24.6%
60th		 15.2%
EBIT margin 10.9% 25.8%
36th		 13.3%
Net margin 9.3% 17.5%
30th		 8.0%
NOPAT margin 22.7% 20.3%
57th		 12.4%
FCF margin 38.0% 20.0%
81st		 7.8%
Operating cash flow margin 59.3% 46.3%
77th		 21.8%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 1.7% 6.7%
4th		 6.7%
Stock comp / revenue 0.1% 0.9%
19th		 0.7%
Effective tax rate 18.0% 21.0%
26th		 21.0%

Returns on capital

MeasureFANGIndustry medianIndustry percentileSector median
ROE (on average equity) 4.1% 13.7%
28th		 12.2%
ROA 2.2% 7.0%
30th		 4.8%
ROIC 7.8% 10.7%
38th		 9.9%
ROCE 2.9% 9.8%
32nd		 9.8%
Return on tangible assets 2.6% 9.4%
32nd		 8.3%
Cash ROIC (OCF / invested capital) 20.3% 25.0%
38th		 18.4%
Gross profitability (GP / assets) 10.8% 15.7%
17th		 14.8%
ROIC, 3-yr average 8.5% 8.5%
50th		 7.0%
ROIC, 5-yr average 12.7% 17.7%
38th		 10.1%
ROE, 5-yr average 17.0% 21.1%
38th		 14.8%
Incremental ROIC -21.0% 18.2%
20th		 14.8%

Growth

MeasureFANGIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 22.0% 14.4%
70th		 10.2%
Revenue growth (QoQ) 31.2% 25.4%
62nd		 13.0%
Revenue CAGR, 3 yr 27.2% 2.1%
88th		 2.0%
Revenue CAGR, 5 yr 31.5% 19.9%
77th		 13.7%
Gross profit CAGR, 3 yr 13.6% -1.3%
79th		 1.7%
Operating income CAGR, 3 yr -1.1% -14.4%
76th		 -2.0%
Net income growth (TTM YoY) -58.7% 23.5%
0th		 23.5%
Net income CAGR, 3 yr -22.9% -12.5%
24th		 -7.8%
EPS growth (TTM YoY) -57.1% 23.6%
0th		 19.9%
EPS CAGR, 3 yr -33.5% -20.5%
10th		 -9.8%
EPS CAGR, 5 yr —
FCF growth (TTM YoY) —
FCF CAGR, 3 yr 56.8% 3.0%
97th		 -3.4%
Operating cash flow CAGR, 3 yr 17.2% 4.9%
81st		 3.2%
Book value CAGR, 3 yr 16.1% 7.9%
83rd		 5.6%
Dividend CAGR, 3 yr -9.4% -4.9%
34th		 -0.1%
Sustainable growth rate 0.3% 11.9%
15th		 9.4%

Margin history & stability

MeasureFANGIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 46.5% 46.5%
50th		 31.0%
Operating margin, 3-yr average 38.3% 26.4%
82nd		 15.4%
Net margin, 3-yr average 24.8% 16.5%
75th		 8.7%
FCF margin, 3-yr average 0.1% 15.4%
18th		 7.2%
Revenue stability (0-1) 0.95 0.70
82nd		 0.64
Earnings stability (0-1) 0.14 0.14
50th		 0.22
Margin stability (0-1) 0.83 0.80
64th		 0.73

Liquidity (latest quarter)

MeasureFANGIndustry medianIndustry percentileSector median
Cash & short-term investments $462.0M $119.5M
74th		 $248.6M
Net cash (− = net debt) −$12.2B −$1.1B
2nd		 −$1.1B
Working capital −$3.0B −$48.6M
0th		 $205.0M
Current ratio 0.47 0.95
9th		 1.41
Quick ratio 0.45 0.90
13th		 1.13
Cash ratio (cash + ST investments / current liabilities) 0.08 0.27
28th		 0.36
Defensive interval (days) 304 days 340 days
34th		 768 days

Leverage & solvency (latest quarter)

MeasureFANGIndustry medianIndustry percentileSector median
Total debt $12.6B $1.3B
94th		 $1.3B
Debt / equity 0.33 0.48
33rd		 0.61
Net debt / equity 0.32 0.38
39th		 0.45
Debt / assets 18.0% 23.7%
32nd		 28.7%
Debt / capital 25.0% 32.6%
33rd		 37.9%
Debt / EBITDA 1.77 1.74
52nd		 1.98
Net debt / EBITDA 1.71 1.32
59th		 1.43
Interest coverage (EBIT / interest) 7.0x 4.9x
60th		 4.1x
Cash interest coverage 38.0x 11.9x
87th		 6.7x
Debt payback (years of OCF) 1.2 yrs 1.4 yrs
43rd		 2.3 yrs
Liabilities / assets 37.4% 47.1%
21st		 54.6%
IS credit model rating A- — —
Implied credit spread (bps) 175 312
38th		 275

Efficiency

MeasureFANGIndustry medianIndustry percentileSector median
Asset turnover 0.24 0.39
9th		 0.49
Fixed asset turnover 0.26 0.47
7th		 0.94
Inventory turnover 104.4 26.0
90th		 11.7
Receivables turnover 10.7 9.4
62nd		 7.8
Days sales outstanding 34 days 39 days
38th		 46 days
Days inventory outstanding 3 days 14 days
10th		 31 days
Days payables outstanding 28 days 49 days
21st		 41 days
Cash conversion cycle (days) 9 days −2 days
66th		 18 days
Capex / revenue 21.3% 24.8%
35th		 11.9%
Capex / depreciation 0.69 0.99
28th		 1.04
Operating expense ratio 0.0% 25.0%
0th		 16.5%

Cash flow & earnings quality

MeasureFANGIndustry medianIndustry percentileSector median
Operating cash flow / net income 6.40 2.19
97th		 2.02
FCF / net income 4.10 0.98
94th		 0.96
FCF / operating cash flow 64.1% 45.0%
77th		 48.4%
Capex / operating cash flow 35.9% 54.4%
24th		 51.6%
Accruals ratio -12.0% -12.1%
51st		 -7.7%
Sloan accruals ratio -9.3% -9.7%
53rd		 -4.7%
Earnings quality score (0-1) 0.75 0.75
0th		 0.75

Dividends & buybacks

MeasureFANGIndustry medianIndustry percentileSector median
Dividend yield 2.1% 2.3%
45th		 1.7%
Dividend per share (TTM) $4.25 $0.78
98th		 $0.66
Payout ratio (dividends / net income) 92.0% 27.5%
85th		 29.4%
Dividends / FCF 22.5% 21.1%
56th		 28.1%
Dividend growth (YoY) 20.4% -1.5%
89th		 0.5%
Buyback yield 3.4% 0.3%
83rd		 0.2%
Shareholder yield (dividends + buybacks) 6.0% 3.5%
68th		 3.2%
Share count change (YoY) -3.7% 0.2%
11th		 0.2%
Buybacks, last 5 years $1.2B $74.3M
83rd		 $38.8M

Scores & forensic checks

MeasureFANGIndustry medianIndustry percentileSector median
IS score 50 57
38th		 51
IS profitability 59 66
26th		 50
IS growth 38 61
20th		 61
IS value 59 71
36th		 57
IS momentum 68 86
33rd		 77
IS risk (safety) 30 30
34th		 50
IS quality 81 81
51st		 68
IS balance sheet 59 56
55th		 55
IS earnings quality 65 61
60th		 65
IS cash flow 76 61
70th		 50
Piotroski F-score (0-9) 7 7
43rd		 6
Altman Z-score 1.5 1.6
45th		 2.0
Beneish M-score −2.72 −2.72
49th		 −2.62
Ohlson O-score −9.55 −8.38
30th		 −7.87
IS credit score 69 54
62nd		 58

Per share

MeasureFANGIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $5.64 $2.27
74th		 $1.88
Book value per share $134.78 $18.64
98th		 $14.22
Tangible book per share $156.42 $19.14
100th		 $12.86
Revenue per share $60.82 $14.22
94th		 $19.06
FCF per share $23.10 $2.65
100th		 $2.05
Operating cash flow per share $36.07 $6.43
94th		 $4.95
Cash per share $1.64 $1.32
60th		 $1.70

Size (TTM)

MeasureFANGIndustry medianIndustry percentileSector median
Market cap $57.1B $4.3B
94th		 $4.1B
Revenue $17.1B $1.9B
89th		 $2.0B
EBITDA $7.1B $719.1M
89th		 $606.3M
Net income $1.6B $288.8M
83rd		 $134.0M
Free cash flow $6.5B $254.3M
96th		 $199.4M
Total assets $70.2B $5.6B
94th		 $4.4B
Shareholders' equity $37.9B $2.1B
94th		 $1.8B
Employees 1,762 429
83rd		 1,717

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-05Meloy Charles Alvin
Director
 Open-market sale 20,503$183.17$3.8M772,694
2026-10-05Meloy Charles Alvin
Director
 Open-market sale 6,476$184.31$1.2M766,218
2026-10-05Meloy Charles Alvin
Director
 Open-market sale 6,354$184.99$1.2M759,864
2026-09-16Meloy Charles Alvin
Director
 Gift 12,500——0
2026-09-16Meloy Charles Alvin
Director
 Gift 25,000——28,257
2026-09-16Sgf Fang Holdings, Lp
10 percent owner
 Open-market sale 9,079,675$205.26$1.9B64,957,047
2026-09-15Zmigrosky Matt
EVP, Chief Legal and Admin Off
 Open-market sale 1,326$212.56$281,84836,705
2026-09-15Dick Teresa L.
EVP Accounting, Assist. Sec.
 Open-market sale 5,000$210.00$1.1M75,755
2026-09-15Meloy Charles Alvin
Director
 Gift 25,000——793,197
2026-09-15Meloy Charles Alvin
Director
 Gift 12,500——12,500
2026-09-11Stice Travis D.
Director
 Open-market sale 75,000$204.31$15.3M49,727
2026-09-10Zmigrosky Matt
EVP, Chief Legal and Admin Off
 Tax withholding 861$202.63$174,46438,031

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1211,784—
GiftDisposed340,174—
GiftAcquired237,500—
Open-market saleDisposed4119,409,715$4.0B
Tax withholdingDisposed21,543$312,658
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 38 notices · 19,686,859 shares · $4.1B
FiledFilerShares proposedEst. proceeds
2026-10-05Charles A. Meloy33,333$6.1M
2026-09-16Sgf Fang Holdings, Lp9,079,675$1.9B
2026-09-15Dick Teresa L.5,000$1.1M
2026-09-15Zmigrosky Matt1,326$281,848
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 3 trades (0 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2025-12-22Roger WilliamsHouseSale$1,001 - $15,0002026-01-16
2025-12-22Roger WilliamsHouseSale (Partial)$1,001 - $15,0002026-01-16
2025-12-21Roger WilliamsHouseSale (Partial)$1,001 - $15,0002026-01-16
2025-07-16Lisa McClainHouseSale (Full)$1,001 - $15,0002025-08-13
2015-07-15James InhofeSenatePurchase$50,001 - $100,0002015-07-29
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.18,792,594$3.3B6.71%
WELLINGTON MANAGEMENT GROUP LLP16,420,247$2.9B5.86%
VANGUARD CAPITAL MANAGEMENT LLC12,775,007$2.2B4.56%
STATE STREET CORP12,562,224$2.2B4.49%
Invesco Ltd.11,180,445$2.0B3.99%
VANGUARD PORTFOLIO MANAGEMENT LLC9,706,610$1.7B3.47%
Capital World Investors8,944,927$1.6B3.19%
Boston Partners5,648,842$996.6M2.02%
GEODE CAPITAL MANAGEMENT, LLC5,387,025$943.4M1.92%
FMR LLC4,594,399$807.6M1.64%
Bank of New York Mellon Corp4,544,940$798.9M1.62%
JPMORGAN CHASE & CO3,579,823$646.3M1.28%
MORGAN STANLEY2,770,425$487.0M0.99%
D. E. Shaw & Co., Inc.2,693,758$473.5M0.96%
UBS Group AG2,491,686$438.0M0.89%

Institutional ownership by quarter

2023-092026-0672.0%
% of shares held by 13F filers
2023-092026-061,194
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,19472.0%143466400129
2026-03-311,19667.2%20541342493
2025-12-311,10663.1%15639340487
2025-09-301,05860.9%87402420107
2025-06-301,09661.6%123460397129
2025-03-311,11960.2%118488393130
2024-12-311,15560.3%145459414142
2024-09-301,17460.9%141523380121
2024-06-301,16657.4%15250936376
2024-03-311,10557.2%17442136977
2023-12-311,02256.9%18041031871
2023-09-3092656.8%12335931176

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-09-17SCHEDULE 13D/ASGF FANG Holdings, LP23.2%64,957,047
2026-09-17SCHEDULE 13D/AGreth Lyndal23.2%64,957,047
2026-06-05SCHEDULE 13D/ASGF FANG Holdings, LP26.3%74,036,722
2026-06-05SCHEDULE 13D/AGreth Lyndal26.3%74,036,722
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.05%$1.2B
VTI0.05%$1.2B
VSMPX0.05%$1.2B
VTSAX0.05%$1.2B
VEIPX1.84%$1.2B
VEIRX1.84%$1.2B

Share structure

Shares outstanding280,024,000
Float213,364,556
Free float76.2%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$6.7B$9.6B$8.3B$11.0B$15.0B
Cost of revenue$2.5B$2.9B$3.5B$6.1B$9.7B
Gross profit$4.3B$6.7B$4.8B$5.0B$5.3B
R&D$0$0$0$0$0
SG&A$146.0M$144.0M$150.0M$213.0M$288.0M
Operating income$4.0B$6.5B$4.6B$4.4B$4.9B
EBITDA$4.4B$7.2B$6.2B$7.6B$7.2B
Pretax income$2.9B$5.7B$4.2B$4.5B$1.9B
Income tax$631.0M$1.2B$912.0M$800.0M$327.0M
Net income$2.2B$4.4B$3.1B$3.3B$1.7B
EPS, diluted$12.30$24.61$17.34$15.53$5.73
Diluted shares177.4M176.5M180.0M213.5M289.1M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$654.0M$157.0M$582.0M$161.0M$106.0M
Receivables$671.0M$1.0B$847.0M$1.6B$1.4B
Inventory$62.0M$67.0M$63.0M$116.0M$86.0M
Total current assets$1.4B$1.4B$1.6B$2.1B$1.9B
PP&E, net$20.6B$23.8B$26.7B$64.5B$874.0M
Goodwill & intangibles$0$0$0$0$0
Total assets$22.9B$26.2B$29.0B$67.3B$71.1B
Accounts payable$36.0M$127.0M$261.0M$253.0M$1.2B
Total current liabilities$1.4B$1.7B$2.1B$4.8B$4.6B
Long-term debt$6.6B$6.2B$6.6B$12.1B$13.7B
Total liabilities$9.7B$10.5B$11.6B$27.4B$28.1B
Shareholders' equity$13.2B$15.7B$17.4B$39.9B$43.0B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$2.3B$4.6B$3.3B$3.7B$1.7B
Depreciation & amortization$1.3B$1.3B$1.7B$2.9B$5.0B
Stock-based compensation$51.0M$55.0M$54.0M$65.0M$0
Change in working capital$36.0M−$199.0M$296.0M−$96.0M−$314.0M
Operating cash flow$3.9B$6.3B$5.9B$6.4B$8.8B
Capital expenditure−$2.3B−$3.6B−$4.7B−$11.8B−$3.5B
Free cash flow$1.7B$2.7B$1.2B−$5.4B$5.2B
Investing cash flow−$1.5B−$3.3B−$3.3B−$11.2B−$7.8B
Net debt issued / repaid−$680.0M−$257.0M$377.0M$6.4B$1.6B
Buybacks−$525.0M−$1.3B−$935.0M−$959.0M−$2.0B
Dividends paid−$312.0M−$1.6B−$1.4B−$1.6B−$1.2B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin62.4%70.2%57.7%45.1%35.1%
Operating margin58.9%67.5%54.4%39.9%32.8%
Net margin32.1%45.5%37.4%30.3%11.1%
FCF margin24.0%29.3%14.4%-48.8%9.1%
ROE20.9%32.4%19.9%12.3%4.5%
ROIC17.2%24.4%15.7%7.2%7.9%
ROA10.8%17.9%11.4%6.9%2.4%
Debt / equity0.560.430.410.330.39
Interest coverage15.6x37.0x26.1x35.5x8.7x
Current ratio1.010.810.770.440.42
Revenue growth+141.6%+41.9%−12.9%+31.2%+35.9%
EPS growth+142.2%+104.8%−28.8%−34.9%−49.0%
P/E at year end7.4x4.9x8.2x13.9x25.8x
EV / EBITDA at year end5.1x3.8x5.2x7.7x8.0x
FCF yield at year end10.09%13.18%4.67%-11.56%3.17%
Dividend payout14.3%35.8%45.9%47.3%69.5%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Oil Exploration and Production———$19.2B$25.1B
Upstream Services Segment$6.7B$9.6B$8.3B——
Oil Purchased———$923.0M$1.5B
Natural Gas Liquids Production———$944.0M$1.4B
Midstream Services Segment$421.0M$440.0M———
Natural Gas, Production———$89.0M$400.0M

Street estimates by fiscal year

Next report 2026-11-02 · consensus EPS $5.46 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$19.2B$17.6B – $20.2B$22.14$17.08 – $25.22149.2x
2027$17.9B$16.1B – $19.7B$20.22$14.55 – $27.331710.1x
2028$17.5B$15.9B – $20.6B$19.34$15.21 – $21.981210.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-03$6.08$6.48+6.6%$4.9B$4.8B−1.3%
2026-05-04$3.74$4.23+13.1%$3.8B$4.2B+10.6%
2026-02-23$2.00$1.74−13.0%$3.3B$3.0B−7.5%
2025-11-03$2.94$3.08+4.8%$3.5B$3.9B+11.2%
2025-08-04$2.76$2.67−3.3%$3.3B$3.7B+9.1%
2025-05-05$4.18$4.54+8.6%$3.8B$4.0B+6.9%
2025-02-25$3.57$3.64+2.0%$3.6B$3.7B+4.0%
2024-11-04$3.98$3.38−15.1%$2.4B$2.6B+8.6%
2024-08-05$4.51$4.52+0.2%$2.2B$2.5B+13.2%
2024-04-30$4.42$4.50+1.8%$2.1B$2.2B+5.5%
2024-02-20$4.66$4.74+1.7%$2.2B$2.2B+2.2%
2023-11-06$5.01$5.49+9.6%$2.1B$2.3B+9.6%
2023-07-31$3.90$3.68−5.6%$2.0B$1.9B−3.8%
2023-05-01$4.33$4.10−5.3%$2.0B$1.9B−2.5%
2023-02-21$5.22$5.29+1.3%$2.1B$2.0B−2.4%
2022-11-07$6.33$6.48+2.4%$2.4B$2.4B+2.5%
2022-08-01$6.58$7.07+7.4%$2.5B$2.8B+11.4%
2022-05-02$4.52$5.20+15.0%$2.0B$2.4B+23.4%
2022-02-22$3.38$3.63+7.4%$1.6B$2.0B+28.7%
2021-11-01$2.77$2.94+6.1%$1.5B$1.9B+30.5%
2021-08-02$2.25$2.40+6.7%$1.7B$1.7B−0.1%
2021-05-03$1.73$2.30+32.9%$863.5M$1.2B+37.0%
2021-02-22$0.80$0.82+2.5%$759.5M$767.0M+1.0%
2020-11-02$0.37$0.62+67.6%$577.9M$719.0M+24.4%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.506-220.406-290.407-060.507-130.607-200.607-270.608-030.308-100.408-170.508-240.508-31
Week ofNotionalSharesTrades
2026-08-31$511.4M2,537,93068,666
2026-08-24$471.5M2,341,36765,221
2026-08-17$444.6M2,117,47767,086
2026-08-10$280.9M1,404,76952,027
2026-08-03$581.6M3,041,61480,680
2026-07-27$564.3M2,855,08371,363

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1544.0%
DateShort shareShort volumeTotal volume
2026-10-1544.0%284,114645,972
2026-10-1428.6%279,111975,712
2026-10-1332.6%404,3691,240,599
2026-10-1242.0%344,656821,225
2026-10-0954.1%247,036456,770
2026-10-0854.9%478,882872,988
2026-10-0728.3%223,510788,780
2026-10-0618.6%195,9261,053,631
2026-10-0528.1%294,2261,045,738
2026-10-0243.9%312,399711,648
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+5.7Jan+4.0Feb-0.5Mar+5.7Apr+2.7May+1.4Jun-0.3Jul+1.2Aug-0.7Sep+2.5Oct+2.9Nov+1.5Dec
MonthAvg returnUp yearsYears
Jan+5.7%71%14
Feb+4.0%57%14
Mar−0.5%71%14
Apr+5.7%62%13
May+2.7%54%13
Jun+1.4%46%13
Jul−0.3%54%13
Aug+1.2%62%13
Sep−0.7%54%13
Oct+2.5%50%14
Nov+2.9%43%14
Dec+1.5%57%14
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1464.4
MFI71.8
ADX17.5
Stochastic %K / %D85.2 / 85.5
Williams %R-0.8
CCI174
TSI / signal3.3 / -8.9
Chaikin money flow-0.01
ATR$5.28
Bollinger width12.2%
Volume vs 20-day avg0.99x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$189.30 (+7.7%)
SMA 50$196.93 (+3.6%)
SMA 200$186.66 (+9.3%)
EMA 21$193.24 (+5.5%)
EMA 50$194.16 (+5.0%)
EMA 200$185.55 (+9.9%)
Bollinger upper$200.89 (+1.5%)
Bollinger lower$177.70 (+14.8%)
Parabolic SAR$187.74 (+8.6%)
Open the live chart, 110+ indicators

About Diamondback Energy, Inc.

Diamondback Energy, Inc. operates as an independent enterprise focused on oil and natural gas. Its core business involves the acquisition, development, exploration, and production of unconventional and onshore hydrocarbon reserves, predominantly located within the Permian Basin across West Texas and New Mexico. The company's development efforts primarily target significant geological formations, including the Spraberry and Wolfcamp in the Midland Basin, as well as the Wolfcamp and Bone Spring within the Delaware Basin – both crucial components of the broader Permian. As of December 31, 2021, Diamondback Energy's asset base included approximately 524,700 gross acres under its control in the Permian Basin. At that time, its estimated proved oil and natural gas reserves amounted to 1,788,991 thousand barrels of crude oil equivalent. The company also maintained working interests in 5,289 gross producing wells and held royalty interests in an additional 6,455 wells. Beyond its direct well operations, Diamondback Energy possesses mineral interests spanning roughly 930,871 gross acres and 27,027 net royalty acres across the Permian Basin and the Eagle Ford Shale. Furthermore, it manages a portfolio of midstream infrastructure, owning, operating, developing, and acquiring assets such as 866 miles of crude oil gathering pipelines, natural gas gathering pipelines, and an integrated water system within the Midland and Delaware Basins of the Permian. Established in 2007, Diamondback Energy, Inc. is headquartered in Midland, Texas.

https://www.diamondbackenergy.com

Key executives

NameTitlePayBorn
Matthew Kaes Van't HofChief Executive Officer & Director$3.8M1987
Daniel N. WessonExecutive Vice President & Chief Operating Officer$1.9M1984
Matt ZmigroskyExecutive Vice President, Chief Legal & Administrative Officer and Secretary$1.7M1979
Teresa L. DickExecutive VP of Accounting & Assistant Secretary$1.4M1970
Jere W. ThompsonExecutive Vice President & Chief Financial Officer$1.4M1989
Greg DolezalSenior Vice President & Chief Information Officer——
Gregory LarsonSenior VP & Chief Accounting Officer——
Johnny D. DosseyVice President of Marketing—1966

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Travis D. Stice Executive Chairman2025$1.1M$16.6M$2.7M$20.5M
Kaes Van’t Hof Chief Executive Officer2025$1.1M$11.1M$2.7M$14.9M
Daniel N. Wesson Executive Vice President and Chief Operating Officer2025$691,667$5.8M$1.1M$7.7M
Matt Zmigrosky Executive Vice President, Chief Legal and Administrative Officer and Secretary2025$688,333$4.2M$1.0M$6.0M
Jere W. Thompson III Executive Vice President and Chief Financial Officer2025$541,667$3.3M$796,950$4.6M
Teresa L. Dick Executive Vice President, Chief Accounting Officer and Assistant Secretary2025$545,833$3.1M$796,950$4.5M

Employees

1k20181k20191k20201k20211k20221k20232k20242k2025

Dividends

Ex-dateAmountPaid
2026-08-13$1.12026-08-20
2026-05-14$1.12026-05-21
2026-03-05$1.052026-03-12
2025-11-13$12025-11-20
2025-08-14$12025-08-21
2025-05-15$12025-05-22
2025-03-06$12025-03-13
2024-11-14$0.92024-11-21

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage55
Intangibles18
Switching costs49
Network effect35
Efficient scale66
Our component scores (0-100) and overall 42.9; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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