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Diamondback Energy, Inc.

FANG ·Energy, Oil & Gas E&P, United States
Analysis › KPI Dashboard

As of Fiscal Year 2025 (ended December 31, 2025)

Key KPIs at a Glance

Metric Value
Total revenue (FY2025) $15,026 million, up 35.8% year-over-year from $11,066 million in FY2024
Net income (FY2025) $1,547 million total net income ($1,664 million attributable to Diamondback stockholders; diluted EPS $5.73), down from $3,701 million total ($3,338 million attributable; diluted EPS $15.53) in FY2024, reflecting lower realized oil and gas prices
Operating income (FY2025) $1,266 million, down from $4,396 million in FY2024
Operating margin / net margin (FY2025) Operating margin 8.4% ($1,266M / $15,026M); net margin (attributable) 11.1% ($1,664M / $15,026M)
Total production (FY2025 average) 921.0 MBoe/d (497.2 MBO/d oil, ~219 MBbls/d NGLs, ~1,222 MMcf/d natural gas), up from 598.3 MBoe/d in FY2024
Realized price per Boe (FY2025) $40.02/Boe combined (oil $64.04/Bbl, natural gas $0.89/Mcf, NGLs $17.88/Bbl), down from $46.12/Boe combined in FY2024
Free cash flow (FY2025) $5,549 million ($5,892 million on an adjusted basis), up from approximately $3,642 million in FY2024
Cash capital expenditures (FY2025) $3,523 million, up from $2,867 million in FY2024; 2026 guidance of $3,600-$3,900 million
Dividends declared per share (FY2025) $4.05 per share total base-plus-variable dividends for the year, down from $6.21 per share in FY2024 on lower earnings; annual base dividend rate increased 5% to $4.20/share ($1.05/share quarterly) entering 2026
Proved reserves (as of December 31, 2025) 3,618 MMBoe (49% oil), up from 3,557 MMBoe at year-end 2024; reserve replacement ratio of 118%
Employees (as of December 31, 2025) Approximately 1,762, per third-party compiled data; not independently confirmed against Diamondback's FY2025 Form 10-K

FY2025 Production Mix by Commodity

Total FY2025 Production (Boe): 336.18M

By volume (Boe-equivalent), not $ revenue -- Diamondback does not disclose revenue separately by product, only a combined oil/gas/NGL sales line. Natural gas converted at the standard 6 Mcf = 1 Boe factor. Slices sum to ~336.18 million Boe, matching the ~336.18 million Boe (921.0 MBoe/d average) Diamondback reported for FY2025.

Total Revenue Growth, FY2021-FY2025

Diamondback closed its ~$26 billion all-stock acquisition of Endeavor Energy Resources on September 10, 2023, roughly 3.5 months before FY2023 year-end, so FY2023 revenue still declined year-over-year on lower realized prices; the acquisition instead drives the large FY2024 step-change as combined Permian Basin production volumes nearly tripled year-over-year, with FY2025 growth reflecting a full second year of the combined, larger asset base plus continued development even as realized prices per Boe fell.

Sources: Company-disclosed figures are sourced from Diamondback Energy's Fourth Quarter and Full Year 2025 earnings release (February 23, 2026), which reports FY2025 actuals alongside FY2024 comparatives. Prior-year total revenue and net income for FY2023 and FY2021 are sourced from the respective Exhibit 99.1 earnings-release filings furnished with Diamondback's Form 8-K to the SEC. Diamondback's income statement discloses oil, natural gas, and NGL sales as a single combined revenue line ($13,453 million in FY2025) rather than itemized by product, so the production-mix pie below is built from the company's disclosed FY2025 production volumes (oil, natural gas, NGLs) converted to a common barrel-of-oil-equivalent (Boe) basis using the standard industry factor of 6 Mcf of gas = 1 Boe, rather than an estimated dollar split. Employee count is a third-party compiled figure (stockanalysis.com) since Diamondback's FY2025 Form 10-K human-capital disclosure was not independently verified; all other figures are as directly reported by the company.