Diamondback Energy (FANG) financials
Diamondback Energy revenue and earnings by year
Diamondback Energy's revenue was $15.0 billion in the fiscal year to December 31, 2025, up 35.8% from the year before. Net income was $1.66 billion, 11.1% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 45.1% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 15.0 | 11.1 | 8.4 | 9.6 | 6.8 | 2.8 | 4.0 | 2.2 | 1.2 | 0.5 |
| Revenue growth | 35.8% | 31.6% | -12.8% | 41.9% | 141.6% | -29.0% | 82.2% | 80.6% | 128.6% | — |
| Gross profit | 10.3 | 7.9 | 6.6 | 8.1 | 5.6 | 2.1 | 3.0 | 1.7 | 1.0 | 0.4 |
| Gross margin | 68.7% | 71.1% | 78.7% | 84.2% | 82.3% | 73.0% | 76.9% | 80.0% | 81.4% | 75.6% |
| Operating income | 1.3 | 4.4 | 4.6 | 6.5 | 4.0 | -5.5 | 0.7 | 1.0 | 0.6 | -0.1 |
| Operating margin | 8.4% | 39.7% | 54.3% | 67.5% | 58.9% | -194.7% | 17.5% | 46.5% | 50.2% | -13.0% |
| Net income | 1.7 | 3.3 | 3.1 | 4.4 | 2.2 | -4.5 | 0.2 | 0.8 | 0.5 | -0.2 |
| Net margin | 11.1% | 30.2% | 37.4% | 45.5% | 32.1% | -160.6% | 6.1% | 38.9% | 40.0% | -31.3% |
| Diluted EPS | $5.73 | $15.53 | $17.34 | $24.61 | $12.24 | -$28.61 | $1.39 | $7.96 | $4.97 | -$2.34 |
| Free cash flow | -0.7 | -5.4 | 1.2 | 2.7 | 1.7 | 0.1 | -1.0 | -1.9 | -2.4 | -0.9 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open FANG in Markets.
How Diamondback Energy makes money
Revenue by segment in the quarter to September 30, 2025, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Oil Exploration & Production | $2.99B | 76.7% |
| Oil Purchased | $459M | 11.8% |
| Natural Gas Liquids Production | $366M | 9.4% |
| Natural Gas Production | $87.0M | 2.2% |
See also: FANG valuation and P/E history · FANG returns
No forecast, no recommendation. This page describes Diamondback Energy from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.