Diamondback Energy, Inc. (FANG)

Diamondback Energy, Inc., an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas, the United States. The company primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland Basin; and the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are part of the Permian Basin in West Texas and New Mexico. Diamondback Energy, Inc. was founded in 2007 and is headquartered in Midland, Texas.

Ticker: FANG
Exchange: Nasdaq
Sector: Energy
Industry: Oil & Gas E&P
Market cap: $49.97B
52-week range: $138.34 - $216.90

Valuation

Share price: $178.96 (close of Nov 6, 2026)
P/E (TTM): 24.09x
Price to book: 1.11x
Price to free cash flow: 4.82x
Enterprise value: $62.65B
Book value per share: $161.63

Price performance

Period	Change
1 day	-0.35%
5 days	-15.62%
1 month	-3.25%
3 months	-5.63%
6 months	-8.26%
Year to date	+19.04%
1 year	+27.13%
3 years	+11.75%
5 years	+57.27%
10 years	+95.18%
All time	+922.63%

Short interest

As of: Oct 15, 2026
Short % of float: 3.56%
Shares short: 6.88M
Days to cover: 2.97
Change since prior report: -5.75%
Source: FINRA consolidated short interest

Members of Congress who disclosed FANG trades

Lisa McClain · Robert Bresnahan · Roger Williams

Super investors holding FANG

Yacktman Asset Mgmt (Yacktman Asset Management LP) · Ken Griffin (Citadel)

Profitability and growth

Return on equity: 3.87%
Return on invested capital: 1.62%
Return on assets: 2.34%
Return on capital employed: 1.90%
Gross margin: 10.34%
Net margin: 11.07%
EBITDA margin: 41.95%
Revenue growth: 35.79%
Net income growth: -50.15%
Free cash flow growth: 36.57%

Cash flow and balance sheet

Free cash flow yield (TTM): 20.73%
Current ratio: 0.55x
Net debt to EBITDA: 1.52x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $15.03B
Cost of revenue: $13.47B
Gross profit: $1.55B
EBITDA: $6.30B
Net income: $1.66B
Earnings per share: $5.73
Interest expense: $244.00M
Shares outstanding: 289.08M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$15.03B	$1.55B	$1.66B	$5.73
2024-12-31	$11.07B	$4.61B	$3.34B	$15.53
2023-12-31	$8.41B	$4.72B	$3.14B	$17.34
2022-12-31	$9.57B	$6.65B	$4.39B	$24.61
2021-12-31	$6.80B	$4.15B	$2.18B	$12.24
2020-12-31	$2.81B	-	-$4.52B	-$28.61
2019-12-31	$3.96B	$799.00M	$240.00M	$1.47
2018-12-31	$2.18B	$1.08B	$846.00M	$8.09
2017-12-31	$1.21B	$653.00M	$482.00M	$4.95
2016-12-31	$527.11M	-	-$165.03M	-$2.20

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	10.34%	11.07%	3.87%	1.62%
2024-12-31	41.65%	30.16%	8.37%	6.76%
2023-12-31	56.11%	37.36%	18.03%	15.10%
2022-12-31	69.54%	45.85%	27.95%	24.17%
2021-12-31	61.01%	32.10%	16.47%	16.91%
2020-12-31	-	-160.58%	-46.07%	-27.99%
2019-12-31	20.16%	6.05%	1.61%	3.19%
2018-12-31	49.45%	38.88%	5.97%	4.52%
2017-12-31	54.19%	40.00%	8.64%	8.57%
2016-12-31	-	-31.31%	-4.11%	-1.34%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$104.00M	$13.73B
2024-12-31	$161.00M	$12.07B
2023-12-31	$582.00M	$6.64B
2022-12-31	$157.00M	$6.24B
2021-12-31	$654.00M	$6.64B
2020-12-31	$104.00M	$5.62B
2019-12-31	$123.00M	$5.37B
2018-12-31	$215.00M	$4.46B
2017-12-31	$112.45M	$1.48B
2016-12-31	$1.67B	$1.11B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$8.76B	-
2024-12-31	$6.41B	$65.00M
2023-12-31	$5.92B	$54.00M
2022-12-31	$6.33B	$55.00M
2021-12-31	$3.94B	$51.00M
2020-12-31	$2.12B	$37.00M
2019-12-31	$2.74B	$48.00M
2018-12-31	$1.56B	$27.00M
2017-12-31	$889.00M	$26.00M
2016-12-31	$332.08M	$26.45M

Dividend history

Most recent payment: Aug 13, 2026
Paid in the last twelve months: $4.25

Payment date	Dividend per share
2026-08-13	$1.10
2026-05-14	$1.10
2026-03-05	$1.05
2025-11-13	$1.00
2025-08-14	$1.00
2025-05-15	$1.00
2025-03-06	$1.00
2024-11-14	$0.90

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-02	Sep 2026	$4.92
2026-08-03	Jun 2026	$5.96
2026-05-04	Mar 2026	$3.55
2026-02-23	Dec 2025	$1.88
2025-11-03	Sep 2025	$2.85
2025-08-04	Jun 2025	$2.63
2025-05-05	Mar 2025	$4.09
2025-02-24	Dec 2024	$3.26

Filings and sources

Company website: diamondbackenergy.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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