Diamondback Energy (FANG)
Energy · $53.0B market cap · SEC CIK 0001539838
$184.50
▼-2.52% on the day
close of Sep 22, 2026
50
Mixed
fundamentals score out of 100
fundamentals score out of 100
Next reports on Nov 2, 2026, after the close, with analysts expecting $5.04 in earnings per share.
The case for FANG
- Revenue up 21.4% on the year.
- Pays a 6.6% dividend while you wait.
- Has compounded revenue at 39.8% a year over five years.
- Gross margin of 68% absorbs cost shocks.
- Moves less than the market (beta 0.51).
The case against
- Earnings per share down 63.2%.
- Pricey at 36.1× earnings, against a long-run market average nearer 20×.
- Return on equity of only 4%.
- Growth is slowing: revenue up 21.4% this year against 39.8% a year over five.
- Current liabilities exceed current assets (ratio 0.47).
- Long-term debt of $13.7B against $104M of cash.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Energy companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 36 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 59 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 30 |
| Momentumhow the price has behaved lately | 66 |
| Stabilityhow violently it moves, what it owes and what it pays you | 74 |
- Each factor except momentum is half fixed thresholds, half rank among the 21 Energy companies.
Key numbers
| Price / earnings | 36.1× |
|---|---|
| Price / book | 1.30× |
| Price / sales | 3.1× |
| Revenue growth (YoY) | +21.4% |
| EPS growth (YoY) | -63.2% |
| Gross margin | 68% |
| Operating margin | 7% |
| Net margin | 9% |
| Return on equity | 4% |
| Debt / equity | 0.33× |
| Current ratio | 0.47 |
| Dividend yield | 6.63% |
| Beta | 0.51 |
| 52-week range | $136.13 – $216.90 |
| Position in that range | 60% of the way up |
| 3-month return | +3.1% |
| 1-year return | +35.5% |
Five years of financials, as filed
Pulled from Diamondback Energy's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $15.0B | $11.1B | $8.4B | $9.6B | $6.7B |
| Operating income | $1.3B | $4.4B | $4.6B | $6.5B | $4.0B |
| Net income | $1.5B | $3.7B | $3.3B | $4.6B | $2.3B |
| Operating cash flow | $8.8B | $6.4B | $5.9B | $6.3B | $3.9B |
| Total assets | $71.1B | $67.3B | $29.0B | $26.2B | $22.9B |
| Total liabilities | $28.1B | $27.4B | $11.6B | $10.5B | $9.7B |
| Shareholder equity | $37.0B | $37.7B | $16.6B | $15.0B | $12.1B |
| Cash | $104M | $161M | $582M | $157M | $654M |
| Long-term debt | $13.7B | $12.1B | $6.6B | $6.2B | $6.6B |
| Operating margin | 8.4% | 39.7% | 54.3% | 68.0% | 59.3% |
| Net margin | 10.3% | 33.4% | 39.7% | 47.7% | 33.7% |
| Diluted shares | 289M | 214M | 180M | 177M | 177M |
Share count is up 63.7% over 4 years. Your slice has been diluted.
Risk factors FANG lists in its 10-K
- Recent Sales of Unregistered Securities
- Issuer Purchases of Equity Securities
- Total Number of Shares Purchased as Part of Publicly Announced Plan
- Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan
- (In millions, except per share amounts, shares in thousands)
- The following discussion and analysis should be read in conjunction with our consolidated financial statements and notes thereto in
- Cautionary Statement Regarding Forward-Looking Statements
- 2025 Financial and Operating Highlights
- Transactions and Recent Developments
- Diamondback Acquisition and Divestitures
- Divestiture of Water Assets to Deep Blue
- Viper Acquisitions and Divestitures
- Viper 2025 Notes Offering and Retirement of Notes
- Comparison of the Years Ended December 31, 2025 and 2024