Diamondback Energy, Inc.
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Income Statement
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue (Q) | — | — | — |
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| Natural gas liquid sales | 359 | 406 | -11.6% |
| Natural gas liquid sales · Delaware Basin | 33 | 31 | +6.5% |
| Natural gas liquid sales · Midland Basin | 324 | 374 | -13.4% |
| Natural gas liquid sales · Other Customer | 2 | 1 | +100.0% |
| Natural Gas Production | 21 | 212 | -90.1% |
| Natural Gas Production · Delaware Basin | 7 | 20 | -65.0% |
| Natural Gas Production · Midland Basin | 11 | 191 | -94.2% |
| Natural Gas Production · Other Customer | 3 | 1 | +200.0% |
| Oil sales | 3,445 | 3,039 | +13.4% |
| Oil sales · Delaware Basin | 247 | 236 | +4.7% |
| Oil sales · Midland Basin | 3,183 | 2,801 | +13.6% |
| Oil sales · Other Customer | 15 | 2 | +650.0% |
| Sales of purchased oil | 385 | 374 | +2.9% |
| Total oil, natural gas and natural gas liquid revenues | 3,825 | 3,657 | +4.6% |
| Total oil, natural gas and natural gas liquid revenues · Delaware Basin | 287 | 287 | 0.0% |
| Total oil, natural gas and natural gas liquid revenues · Midland Basin | 3,518 | 3,366 | +4.5% |
| Total oil, natural gas and natural gas liquid revenues · Other Customer | 20 | 4 | +400.0% |
| Other Operating Income | 30 | 17 | +76.5% |
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| Service Other | 13 | 15 | -13.3% |
| Revenue | 4,240 | 4,048 | +4.7% |
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| Aggregate Revenues | 4,223 | 4,046 | +4.4% |
| Operating Lease Expense | 547 | 408 | +34.1% |
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| Related Party | 75 | 37 | +102.7% |
| Production Tax Expense | 268 | 228 | +17.5% |
| Gathering Processing And Transportation | 120 | 111 | +8.1% |
| Purchased Oil Expense | 393 | 382 | +2.9% |
| Depreciation & Amortization | 1,293 | 1,097 | +17.9% |
| Impairment Of Oil And Gas Properties | 1,400 | — | — |
| Selling, General & Administrative | 79 | 73 | +8.2% |
| Other Cost And Expense Operating | 24 | 76 | -68.4% |
| Total Costs & Expenses | 4,124 | 2,375 | +73.6% |
| Operating Income | 116 | 1,673 | -93.1% |
| Interest Income Expense Nonoperating Net | -63 | -40 | -57.5% |
| Other Non-Operating Income (Expense) | 7 | 35 | -80.0% |
| Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 117 | 226 | -48.2% |
| Gains Losses On Extinguishment Of Debt | -1 | — | — |
| Non-Operating Income (Expense) | 60 | 221 | -72.9% |
| Income Before Taxes | 176 | 1,894 | -90.7% |
| Income Tax Expense (Benefit) | 32 | 403 | -92.1% |
| Net Income | 144 | 1,491 | -90.3% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 119 | 86 | +38.4% |
| Retained Earnings | 25 | 1,405 | -98.2% |
| Net Income Loss Attributable To Noncontrolling Interest | 119 | 86 | +38.4% |
| Net Income | 25 | 1,405 | -98.2% |
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| Subsidiaries | 25 | 1,405 | -98.2% |
| EPS (Basic) | 0.08 | 4.83 | -98.3% |
| EPS (Diluted) | 0.08 | 4.83 | -98.3% |
| Wtd Avg Shares (Basic) | 282,792 | 289,612 | -2.4% |
| Wtd Avg Shares (Diluted) | 282,792 | 289,612 | -2.4% |
| Net Income Loss Available To Common Stockholders Basic | 22 | 1,399 | -98.4% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 174 | 1,816 | -90.4% |
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| Variable Interest Entity Primary Beneficiary | 28 | 560 | -95.0% |
| Restricted Cash And Cash Equivalents At Carrying Value | 2 | 225 | -99.1% |
| Oil And Gas Joint Interest Billing Receivables Current | 327 | 257 | +27.2% |
| Accounts Receivable | 1,834 | 1,334 | +37.5% |
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| Variable Interest Entity Primary Beneficiary | 383 | 146 | +162.3% |
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| Related Party | 1 | 5 | -80.0% |
| Inventory | 79 | 117 | -32.5% |
| Prepaid Expenses & Other Current Assets | 288 | 67 | +329.9% |
| Total Current Assets | 2,704 | 4,083 | -33.8% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 66,613 | 64,896 | +2.6% |
| Other Non-Current Assets | 763 | — | — |
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| Related Party | 211 | — | — |
| Total Assets | 70,080 | 70,066 | 0.0% |
| Other Assets | |||
| Property Plant And Equipment Other | 889 | 1,452 | -38.8% |
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| Property Plant And Equipment Other Types | 889 | 1,452 | -38.8% |
| Accumulated Depreciation Depletion And Amortization Property Plant And Equipment | -30,461 | -20,283 | -50.2% |
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| Variable Interest Entity Primary Beneficiary | -2,662 | -1,148 | -131.9% |
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| Property Plant And Equipment Other Types | -215 | -186 | -15.6% |
| Current Liabilities | |||
| Accounts Payable And Accrued Capital Expenditures | 1,181 | — | — |
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| Related Party | 85 | — | — |
| Current Portion of Long-Term Debt | 749 | 914 | -18.1% |
| Other Accrued Liabilities Current | 848 | 761 | +11.4% |
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| Related Party | 59 | 36 | +63.9% |
| Deferred Revenue (Current) | 1,459 | 1,575 | -7.4% |
| Derivative Liabilities Current | 62 | 75 | -17.3% |
| Taxes Payable Current | 517 | 550 | -6.0% |
| Total Current Liabilities | 4,816 | 4,753 | +1.3% |
| Debt Current | 749 | 914 | -18.1% |
| Non-Current Liabilities | |||
| Long-Term Debt | 13,149 | 12,996 | +1.2% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 1,603 | 822 | +95.0% |
| Deferred Tax Liabilities | 8,914 | 9,887 | -9.8% |
| Other Non-Current Liabilities | 561 | 8 | +6912.5% |
| Total Liabilities | 27,440 | 28,323 | -3.1% |
| Long-Term Debt | 13,149 | 12,996 | +1.2% |
| Other Liabilities | |||
| Minority Interest | 6,167 | 3,270 | +88.6% |
| Stockholders' Equity | |||
| Common Stock Value Outstanding | 3 | 3 | 0.0% |
| Additional Paid In Capital Common Stock | 32,010 | 33,125 | -3.4% |
| Retained Earnings | 4,467 | 5,352 | -16.5% |
| Accumulated Other Comprehensive Income | -7 | -7 | 0.0% |
| Total Stockholders' Equity | 36,473 | 38,473 | -5.2% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 42,640 | 41,743 | +2.1% |
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| Accumulated Other Comprehensive Income | -7 | -7 | 0.0% |
| Additional Paid In Capital | 32,010 | 33,125 | -3.4% |
| Common Stock | 3 | 3 | 0.0% |
| Noncontrolling Interest | 6,167 | 3,270 | +88.6% |
| Retained Earnings | 4,467 | 5,352 | -16.5% |
| Total Liabilities & Equity | 70,080 | 70,066 | 0.0% |
| Capitalized Costs Proved Properties | 72,688 | — | — |
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| Variable Interest Entity Primary Beneficiary | 9,514 | — | — |
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| Oil And Gas Properties | 72,688 | — | — |
| Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative | 23,497 | — | — |
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| Variable Interest Entity Primary Beneficiary | 4,562 | — | — |
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| Oil And Gas Properties | 23,497 | — | — |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Deferred Income Taxes | -242 | 6 | -4133.3% |
| Depreciation Depletionand Amortization Excluding Amortizationof Financing Costs | 1,293 | 1,097 | +17.9% |
| Derivative Gain Loss On Derivative Net | -117 | -226 | +48.2% |
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| Commodity Contract | -117 | -214 | +45.3% |
| Derivative Cash Received Paid On Settlement Of Hedge | 133 | 85 | +56.5% |
| Other Operating Activities Cash Flow Statement | 26 | 34 | -23.5% |
| Change in Accounts Receivable | -779 | -6 | -12883.3% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | -257 | -374 | +31.3% |
| Increase Decrease In Accrued Income Taxes Payable | 287 | 135 | +112.6% |
Show Subsidiary Sale Of Stock breakouts |
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| Secondary Offering | 88 | — | — |
| Increase Decrease In Deferred Revenue | 70 | 84 | -16.7% |
| Increase Decrease In Other Operating Capital Net | -131 | 29 | -551.7% |
| Net Cash from Operations | 1,828 | 2,355 | -22.4% |
| Investing Activities | |||
| Payments To Explore And Develop Oil And Gas Properties | -933 | -942 | +1.0% |
| Payments To Acquire Oil And Gas Property | -314 | -750 | +58.1% |
| Proceeds From Sales Of Business Affiliate And Productive Assets | 604 | 41 | +1373.2% |
| Other Investing Activities | -15 | -2 | -650.0% |
| Net Cash from Investing | -658 | -1,653 | +60.2% |
| Financing Activities | |||
| Proceeds From Issuance Of Debt | 2,525 | 3,477 | -27.4% |
| Debt Repayments | -3,124 | -2,538 | -23.1% |
| Share Repurchases (Q) | — | — | — |
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| Nonrelated Party | -39 | -575 | +93.2% |
| Related Party | -509 | — | — |
| Payments For Repurchase Of Common Stock Units | -97 | — | — |
| Proceeds From Sale Of Subsidiary Common Stock | 589 | — | — |
| Payments Of Dividends Common Stock | -295 | -290 | -1.7% |
| Payments Of Dividends Minority Interest | -120 | -95 | -26.3% |
| Proceeds From Payments For Other Financing Activities | -30 | -36 | +16.7% |
| Net Cash from Financing | -1,100 | 1,175 | -193.6% |
| Supplemental | |||
| Unpaid Capital Expenditures | 962 | 746 | +29.0% |
| Other Cash Flow | |||
| Net Change in Cash | 70 | 1,877 | -96.3% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 176 | 2,041 | -91.4% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.