FANG (Diamondback Energy, Inc.) Stock Financials & Earnings | Market Cap Arena

FANG (Diamondback Energy, Inc.) Stock Financials & Earnings | Market Cap Arena

FANGDiamondback Energy, Inc.

Mkt Cap$52B

Energy·Oil & Gas Exploration & Production·🇺🇸 United States·NASDAQ

Revenue (TTM)$15.0B

Net Income (TTM)$1.7B

EPS (TTM)$5.60

Free Cash Flow (TTM)$1.4B

Gross Margin35.1%

Op. Margin32.8%

Net Margin11.1%

FCF Margin9.1%

P/S Ratio (TTM)3.4x

P/E Ratio (TTM)31.0x

YoY Rev Growth+35.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$1.9B	$1.1B	$1.0B
Q2 23	$1.9B	$1.1B	$1.0B
Q3 23	$2.3B	$1.4B	$1.3B
Q4 23	$2.2B	$1.2B	$1.2B
Q1 24	$2.2B	$1.2B	$1.1B
Q2 24	$2.5B	$1.2B	$1.2B
Q3 24	$2.6B	$1.0B	$710M
Q4 24	$3.7B	$1.5B	$1.4B
Q1 25	$4.0B	$1.8B	$1.7B
Q2 25	$3.7B	$1.3B	$1.1B
Q3 25	$3.9B	$1.4B	$1.2B
Q4 25	$3.4B	$820M	$870M

Valuation

Quarter	P/S	P/E
Q1 23	5.6x	11.9x
Q2 23	6.2x	14.9x
Q3 23	6.3x	16.2x
Q4 23	6.1x	16.4x
Q1 24	5.9x	16.1x
Q2 24	5.6x	14.8x
Q3 24	5.4x	16.0x
Q4 24	4.7x	15.5x
Q1 25	4.0x	13.0x
Q2 25	3.7x	13.4x
Q3 25	3.4x	12.3x
Q4 25	3.4x	31.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$1.4B	-$112M
Q2 23	$1.5B	$657M
Q3 23	$1.4B	$506M
Q4 23	$1.6B	$155M
Q1 24	$1.3B	$572M
Q2 24	$1.5B	$842M
Q3 24	$1.2B	-$7.3B
Q4 24	$2.3B	$482M
Q1 25	$2.4B	$663M
Q2 25	$1.7B	-$2.3B
Q3 25	$2.4B	$1.6B
Q4 25	$2.3B	$1.4B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$1.5B
Q2 23	$856M
Q3 23	$852M
Q4 23	$1.5B
Q1 24	$762M
Q2 24	$687M
Q3 24	$8.5B
Q4 24	$1.9B
Q1 25	$1.7B
Q2 25	$4.0B
Q3 25	$774M
Q4 25	$943M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-20.1%	+20.3%
Q2 23	-30.7%	+16.3%
Q3 23	-4.0%	+21.5%
Q4 23	+9.2%	+30.7%
Q1 24	+15.2%	+22.2%
Q2 24	+28.9%	+43.3%
Q3 24	+12.6%	+92.6%
Q4 24	+66.7%	+125.7%
Q1 25	+81.7%	+114.4%
Q2 25	+47.6%	+90.7%
Q3 25	+48.9%	+39.6%
Q4 25	-8.7%	+9.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$11M	0.6%
Q2 23	$16M	0.8%
Q3 23	$13M	0.6%
Q4 23	$14M	0.6%
Q1 24	$14M	0.6%
Q2 24	$19M	0.8%
Q3 24	$16M	0.6%
Q4 24	$16M	0.4%
Q1 25	$18M	0.4%
Q2 25	$21M	0.6%
Q3 25	$22M	0.6%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q1 23	$40M	—
Q2 23	$37M	—
Q3 23	$34M	—
Q4 23	$39M	—
Q1 24	$46M	—
Q2 24	$46M	—
Q3 24	$49M	—
Q4 24	$72M	—
Q1 25	$73M	—
Q2 25	$67M	—
Q3 25	$70M	—
Q4 25	—	$78M

Revenue Segments

Quarter	Upstream Services Segment
Q1 23	$1.9B
Q2 23	$1.9B
Q3 23	$2.3B
Q4 23	$2.2B
Q1 24	$2.2B
Q2 24	$2.5B
Q3 24	$2.6B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$46M	$0	$46M
Q2 23	$18M	$0	$18M
Q3 23	$827M	$0	$827M
Q4 23	$582M	$0	$582M
Q1 24	$899M	$0	$899M
Q2 24	$6.9B	$0	$6.9B
Q3 24	$370M	$0	$370M
Q4 24	$161M	$0	$161M
Q1 25	$1.8B	$0	$1.8B
Q2 25	$219M	$0	$219M
Q3 25	$159M	$0	$159M
Q4 25	$106M	$0	$106M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	182M	+2.4%
Q2 23	180M	-0.9%
Q3 23	179M	-0.8%
Q4 23	179M	-0.0%
Q1 24	178M	-0.2%
Q2 24	178M	-0.1%
Q3 24	205M	+14.8%
Q4 24	292M	+42.6%
Q1 25	290M	-0.8%
Q2 25	292M	+0.9%
Q3 25	290M	-0.7%
Q4 25	285M	-1.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$4M	114
FY 15	$3M	141
FY 16	$3M	158
FY 17	$5M	251
FY 18	$3M	711
FY 19	$6M	712
FY 20	$4M	732
FY 21	$8M	870
FY 22	$10M	972
FY 23	$8M	1K
FY 24	$6M	2K
FY 25	$8M	2K