MTDR

MKT CAP:$8B

Matador Resources Company

Market Cap

$8B

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

Energy·Oil & Gas Exploration & Production·🇺🇸·NYSE

Stock Price

$60.46+$17.10 (+39.44%)

Apr 24, 2026

Company Details

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Producti...

CEO

Joseph Wm. Foran

IPO Date

Feb 2, 2012

Website

www.matadorresources.com

Key Metrics TTM

Revenue

$3.7B

+6.2% YoY

Net Income

$759M

EPS (Diluted)

$6.10

Free Cash Flow

$242M

Revenue / Share

$29.73

Gross Margin

88.8%

Operating Margin

33.2%

Net Margin

20.5%

FCF Margin

6.5%

P/S

2.0x

P/E

9.9x

Earnings Reports

FY 2025

Feb 26, 2026

$3.7B+5.1%EPS $6.09

Q4 2025

Feb 26, 2026

$848M-13.3%EPS $1.55

Q3 2025

Oct 24, 2025

$915M+6.4%EPS $1.42

Q2 2025

Jul 25, 2025

$926M+8.2%EPS $1.21

Q1 2025

Apr 28, 2025

$1.0B+28.1%EPS $1.92

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$566M	$340M	$309M
Q2 22	$975M	$651M	$595M
Q3 22	$841M	$512M	$483M
Q4 22	$707M	$407M	$372M
Q1 23	$564M	$278M	$251M
Q2 23	$650M	$292M	$252M
Q3 23	$772M	$372M	$340M
Q4 23	$832M	$392M	$366M
Q1 24	$785M	$348M	$319M
Q2 24	$855M	$401M	$364M
Q3 24	$860M	$383M	$392M
Q4 24	$978M	$411M	$360M
Q1 25	$1.0B	$417M	$389M
Q2 25	$926M	$351M	$319M
Q3 25	$915M	$321M	$306M
Q4 25	$848M	$2.2B	$212M

Valuation

Quarter	P/S	P/E
Q1 22	3.1x	8.9x
Q2 22	2.2x	5.6x
Q3 22	2.2x	5.4x
Q4 22	2.2x	5.5x
Q1 23	2.0x	5.2x
Q2 23	2.3x	6.8x
Q3 23	2.5x	8.0x
Q4 23	2.4x	7.9x
Q1 24	2.7x	9.2x
Q2 24	2.2x	7.6x
Q3 24	1.9x	6.7x
Q4 24	2.0x	7.8x
Q1 25	1.7x	6.9x
Q2 25	1.6x	7.0x
Q3 25	1.5x	7.3x
Q4 25	1.4x	6.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$329M	$65M
Q2 22	$646M	$343M
Q3 22	$557M	$317M
Q4 22	$447M	$170M
Q1 23	$340M	-$4M
Q2 23	$449M	$82M
Q3 23	$461M	$37M
Q4 23	$618M	$123M
Q1 24	$469M	-$76M
Q2 24	$593M	$111M
Q3 24	$610M	$186M
Q4 24	$575M	$59M
Q1 25	$728M	$194M
Q2 25	$501M	$3M
Q3 25	$722M	$159M
Q4 25	$474M	-$114M

Capital Expenditures

Quarter	CapEx
Q1 22	$264M
Q2 22	$304M
Q3 22	$240M
Q4 22	$276M
Q1 23	$344M
Q2 23	$367M
Q3 23	$424M
Q4 23	$495M
Q1 24	$544M
Q2 24	$482M
Q3 24	$425M
Q4 24	$516M
Q1 25	$534M
Q2 25	$498M
Q3 25	$563M
Q4 25	$588M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+68.3%	+5.3%
Q2 22	+120.1%	+27.5%
Q3 22	+61.5%	+23.1%
Q4 22	+25.8%	+41.6%
Q1 23	-0.4%	+21.8%
Q2 23	-33.3%	+4.7%
Q3 23	-8.2%	+20.7%
Q4 23	+17.6%	+39.0%
Q1 24	+39.3%	+49.4%
Q2 24	+31.6%	+23.6%
Q3 24	+11.4%	+8.4%
Q4 24	+17.5%	+32.5%
Q1 25	+28.1%	+32.3%
Q2 25	+8.2%	+23.4%
Q3 25	+6.4%	+30.1%
Q4 25	-13.3%	+2.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	0.5%
Q2 22	$4M	0.4%
Q3 22	$4M	0.5%
Q4 22	$4M	0.6%
Q1 23	$2M	0.4%
Q2 23	$4M	0.6%
Q3 23	$5M	0.6%
Q4 23	$3M	0.3%
Q1 24	$3M	0.4%
Q2 24	$3M	0.3%
Q3 24	$4M	0.5%
Q4 24	$5M	0.5%
Q1 25	$4M	0.4%
Q2 25	$5M	0.5%
Q3 25	$6M	0.7%
Q4 25	$4M	0.4%

OpEx Breakdown

Quarter	G&A
Q1 22	$30M
Q2 22	$24M
Q3 22	$28M
Q4 22	$35M
Q1 23	$22M
Q2 23	$27M
Q3 23	$32M
Q4 23	$29M
Q1 24	$30M
Q2 24	$28M
Q3 24	$29M
Q4 24	$41M
Q1 25	$34M
Q2 25	$32M
Q3 25	$37M
Q4 25	$34M

Revenue Segments

Quarter	Natural Gas Revenues	Natural Gas, Midstream	Natural Gas, Sales	Oil Revenues	Oil and Gas
Q2 22	$243M	$22M	$60M	$650M	—
Q3 22	$229M	$25M	$78M	$522M	—
Q4 22	—	$27M	$43M	—	$635M
Q1 23	$101M	$27M	$34M	$402M	—
Q2 23	$78M	$30M	$32M	$510M	—
Q3 23	$113M	$30M	$40M	$588M	—
Q1 24	$105M	$32M	$49M	$599M	—
Q2 24	$71M	$33M	$46M	$706M	—
Q3 24	$72M	$38M	$52M	$698M	—
Q1 25	$161M	$33M	$63M	$749M	—
Q2 25	$96M	$42M	$68M	$719M	—
Q3 25	$96M	$44M	$61M	$714M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$63M	$0	$63M
Q2 22	$230M	$0	$230M
Q3 22	$400M	$0	$400M
Q4 22	$505M	$0	$505M
Q1 23	$449M	$0	$449M
Q2 23	$22M	$0	$22M
Q3 23	$26M	$0	$26M
Q4 23	$106M	$0	$106M
Q1 24	$23M	$0	$23M
Q2 24	$15M	$0	$15M
Q3 24	$23M	$0	$23M
Q4 24	$23M	$0	$23M
Q1 25	$15M	$0	$15M
Q2 25	$87M	$0	$87M
Q3 25	$20M	$0	$20M
Q4 25	$79M	$0	$79M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	120M	+0.2%	+1.0%
Q2 22	120M	+0.1%	+0.8%
Q3 22	120M	-0.0%	+0.5%
Q4 22	120M	+0.2%	+0.4%
Q1 23	120M	-0.3%	-0.1%
Q2 23	120M	+0.1%	-0.1%
Q3 23	120M	+0.2%	+0.2%
Q4 23	120M	-0.1%	-0.1%
Q1 24	120M	+0.2%	+0.5%
Q2 24	125M	+3.9%	+4.2%
Q3 24	125M	+0.1%	+4.1%
Q4 24	125M	+0.4%	+4.6%
Q1 25	125M	-0.1%	+4.2%
Q2 25	124M	-0.7%	-0.4%
Q3 25	125M	+0.2%	-0.2%
Q4 25	124M	-0.4%	-0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$2M	286
Q2 22	$3M	286
Q3 22	$3M	286
Q4 22	$2M	360
Q1 23	$2M	360
Q2 23	$2M	360
Q3 23	$2M	360
Q4 23	$2M	395
Q1 24	$2M	395
Q2 24	$2M	395
Q3 24	$2M	395
Q4 24	$2M	452
Q1 25	$2M	452
Q2 25	$2M	452
Q3 25	$2M	452
Q4 25	$2M	483

Revenue / Employee