VNOM

MKT CAP:$18B

Viper Energy, Inc.

Market Cap

$18B

Energy·Oil & Gas Midstream·🇺🇸 United States·NASDAQ

Energy·Oil & Gas Midstream·🇺🇸·NASDAQ

Stock Price

$47.57+$8.79 (+22.67%)

Apr 24, 2026

Company Details

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2021, it had mineral interests in 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale; and estimated pr...

CEO

Matthew Kaes Van't Hof

IPO Date

Jun 18, 2014

Website

www.viperenergy.com

Key Metrics TTM

Revenue

$1.1B

+542.8% YoY

Net Income

$73M

EPS (Diluted)

$1.29

Free Cash Flow

-$4.5B

Revenue / Share

$6.56

Gross Margin

48.6%

Operating Margin

45.4%

Net Margin

6.6%

FCF Margin

-404.1%

P/S

16.1x

P/E

244.3x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Dec 30, 2025

$1.3BEPS -$0.48

Q4 2025

Dec 30, 2025

$422M+84.7%EPS -$0.61

Q3 2025

Aug 4, 2025

$393MEPS -$0.52

Q4 2024

Feb 26, 2025

$229MEPS $2.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$14M	$5M	-$23M
Q2 16	$17M	$9M	-$14M
Q3 16	$20M	$12M	$11M
Q4 16	$28M	$18M	$17M
Q1 17	$34M	$24M	$21M
Q2 17	$37M	$24M	$22M
Q3 17	$43M	$29M	$27M
Q4 17	$59M	$44M	$43M
Q1 18	$62M	$47M	$44M
Q4 24	$229M	$148M	$143M
Q3 25	$393M	$184M	$174M
Q4 25	$422M	$159M	$141M

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q3 16	—	—
Q4 16	19.7x	—
Q1 17	18.2x	54.3x
Q2 17	14.5x	24.8x
Q3 17	15.2x	25.0x
Q4 17	15.4x	23.8x
Q1 18	9.1x	13.7x
Q4 24	12.7x	15.6x
Q3 25	6.5x	22.2x
Q4 25	4.4x	66.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	$16M	$14M
Q2 16	$14M	$5M
Q3 16	$17M	-$110M
Q4 16	$22M	-$46M
Q1 17	$26M	$17M
Q2 17	$35M	-$79M
Q3 17	$33M	-$146M
Q4 17	$45M	$2M
Q1 18	$49M	-$101M
Q4 24	$158M	-$267M
Q3 25	$281M	-$2.1B
Q4 25	$399M	-$2.0B

Capital Expenditures

Quarter	CapEx
Q1 16	$2M
Q2 16	$9M
Q3 16	$126M
Q4 16	$68M
Q1 17	$9M
Q2 17	$114M
Q3 17	$178M
Q4 17	$43M
Q1 18	$150M
Q4 24	$425M
Q3 25	$2.4B
Q4 25	$2.4B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 17	+137.1%	-67.3%
Q2 17	+115.0%	-54.0%
Q3 17	+112.7%	+64.5%
Q4 17	+112.1%	+48.9%
Q1 18	+85.4%	+53.2%
Q4 24	+524.0%	+502.2%
Q3 25	+824.0%	+1316.0%
Q4 25	+612.5%	+1613.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$973.0K	6.9%
Q2 16	$957.0K	5.6%
Q3 16	$1M	5.2%
Q4 16	$841.0K	3.0%
Q1 17	$819.0K	2.4%
Q2 17	$718.0K	2.0%
Q3 17	$502.0K	1.2%
Q4 17	$356.0K	0.6%
Q1 18	$1M	2.1%
Q4 24	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 16	$2M	$86.0K	—
Q2 16	$1M	$91.0K	—
Q3 16	$1M	$70.0K	—
Q4 16	$1M	$168.0K	—
Q1 17	$2M	$143.0K	—
Q2 17	$2M	$144.0K	—
Q3 17	$1M	$205.0K	—
Q4 17	$1M	$297.0K	—
Q1 18	$3M	$265.0K	—
Q4 24	$5M	—	—
Q3 25	—	—	$10M
Q4 25	—	—	$12M

Revenue Segments

Quarter	Natural Gas Income	Natural Gas Liquids Income	Oil Income
Q4 24	$6M	$27M	$192M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$33M	$0	$33M
Q2 22	$4M	$0	$4M
Q3 22	$12M	$0	$12M
Q4 22	$18M	$0	$18M
Q1 23	$9M	$0	$9M
Q2 23	$13M	$0	$13M
Q3 23	$147M	$0	$147M
Q4 23	$26M	$0	$26M
Q1 24	$20M	$0	$20M
Q2 24	$35M	$0	$35M
Q3 24	$169M	$0	$169M
Q4 24	$27M	$0	$27M
Q1 25	$560M	$0	$560M
Q2 25	$28M	$0	$28M
Q3 25	$443M	$0	$443M
Q4 25	$13M	$0	$13M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	80M	—	—
Q2 16	80M	+0.0%	—
Q3 16	85M	+6.6%	—
Q4 16	88M	+3.3%	—
Q1 17	95M	+8.2%	+19.1%
Q2 17	98M	+2.8%	+22.5%
Q3 17	110M	+13.1%	+29.9%
Q4 17	114M	+3.2%	+29.7%
Q1 18	114M	+0.1%	+20.0%
Q4 24	103M	-9.7%	+5.4%
Q3 25	149M	+44.6%	+34.8%
Q4 25	169M	+13.3%	+48.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	$100.7K	141
Q2 16	$120.8K	141
Q3 16	$141.8K	141
Q4 16	$176.7K	158
Q1 17	$213.0K	158
Q2 17	$231.8K	158
Q3 17	$269.2K	158
Q4 17	$236.0K	251
Q1 18	$248.6K	251
Q4 24	$76M	3
Q3 25	$131M	3
Q4 25	$141M	3

Revenue / Employee