Matador Resources Company (MTDR) Balance Sheet
MTDR balance sheet, 2025
December 31, 2025 · U.S. dollars$11.87B assets = $5.88B liabilities + $6.00B equity
Both columns are drawn to the same scale: what MTDR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MTDR financial health
Current ratio0.79
Tight · current assets cover current liabilities 0.79×
Debt / equity0.63
Moderate leverage · $0.63 of debt for each $1 of equity
Equity / assets47.7%
Equity-funded · of assets funded by shareholders
Cash / debt2.2%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
MTDR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.46B2016 | $11.87B2025 | +26.2%/yr | |
| Total liabilities | $773.2M2016 | $5.88B2025 | +25.3%/yr | |
| Shareholders’ equity | $691.4M2016 | $5.66B2025 | +26.3%/yr | |
| Cash & short-term investments | $212.9M2016 | $79.5M2025 | −10.4%/yr | |
| Total debt | $589.9M2016 | $3.55B2025 | +22.1%/yr | |
| Net cash (debt) | −$377.0M2016 | −$3.47B2025 | −$3.1B | |
| Working capital | $109.7M2016 | −$214.9M2025 | −$324.6M | |
| Book value per share | $7.582016 | $45.422025 | +22.0%/yr | |
| Current ratio | 1.652016 | 0.792025 | −0.86 | |
| Debt / equity | 0.852016 | 0.632025 | −0.23 | |
| Shares outstanding | 91.3M2016 | 124.6M2025 | +3.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MTDR assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
MTDR liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
MTDR debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MTDR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $79.5M | $23.0M | $52.7M | $505.2M | $48.1M | $57.9M | $40.0M | $64.5M | $96.5M | $212.9M |
| Cash & equivalents | $79.5M | $23.0M | $52.7M | $505.2M | $48.1M | $57.9M | $40.0M | $64.5M | $96.5M | $212.9M |
| Short-term investments | — | — | — | — | — | — | — | — | $6.0M | $1.3M |
| Receivables | $529.8M | $654.7M | $473.0M | $453.8M | $241.4M | $137.1M | $189.4M | $146.2M | $141.2M | $58.7M |
| Inventory | $43.8M | $38.5M | $41.8M | $15.2M | $12.2M | $10.6M | $10.7M | $17.6M | $6.0M | $3.0M |
| Other current assets | $163.4M | $211.1M | $148.4M | $97.7M | $69.6M | $56.0M | $38.3M | $77.4M | $13.5M | $4.6M |
| Total current assets | $816.6M | $927.3M | $715.9M | $1.07B | $371.3M | $261.6M | $278.5M | $305.7M | $257.2M | $279.2M |
| Property, plant & equipment (net) | $10.87B | $47.5M | $7.00B | $4.42B | $3.86B | $3.37B | $3.70B | $3.12B | $1.88B | $1.18B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $2.6M | $0 | $0 | $0 | $0 |
| Other non-current assets | $186.5M | $9.88B | $10.3M | $64.5M | $34.2M | $55.3M | $91.6M | $27.0M | $7.1M | $958,000 |
| Total assets | $11.87B | $10.85B | $7.73B | $5.55B | $4.26B | $3.69B | $4.07B | $3.46B | $2.15B | $1.46B |
| Liabilities | ||||||||||
| Accounts payable | $179.3M | $147.1M | $68.2M | $58.8M | $26.3M | $14.0M | $25.2M | $67.0M | $11.8M | $4.7M |
| Short-term debt | $66.2M | $118.5M | $62.0M | $47.0M | $32.2M | $24.3M | $18.2M | $12.7M | $12.6M | $16.0M |
| Deferred revenue | — | — | $20.0M | $428.4M | $360.9M | $170.1M | $302.6M | $249.3M | $241.1M | $124.0M |
| Total current liabilities | $1.03B | $995.4M | $685.3M | $575.9M | $464.8M | $290.9M | $399.8M | $330.0M | $282.6M | $169.5M |
| Long-term debt | $3.40B | $3.33B | $2.21B | $1.16B | $1.53B | $1.81B | $1.58B | $1.30B | $574.1M | $573.9M |
| Lease obligations | $85.0M | $92.4M | $62.0M | $47.0M | $32.2M | $24.3M | $18.2M | $12.7M | $12.6M | $16.0M |
| Other long-term liabilities | $1.44B | $76.6M | $707.4M | $501.3M | $142.3M | $68.3M | $118.0M | $48.0M | $31.5M | $29.8M |
| Total liabilities | $5.88B | $5.39B | $3.60B | $2.24B | $2.13B | $2.17B | $2.10B | $1.68B | $888.1M | $773.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.2M | $1.3M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $1.67B | $1.33B |
| Retained earnings (deficit) | $3.15B | $2.56B | $1.78B | $1.01B | −$171.3M | −$741.7M | −$148.5M | −$236.3M | −$510.5M | −$636.4M |
| Treasury stock | — | — | — | −$34,000 | −$243,000 | −$3,000 | −$26,000 | −$415,000 | −$69,000 | $0 |
| Accumulated other comprehensive income | — | — | $0 | $0 | $0 | $0 | $0 | −$2.31B | −$2.04B | −$1.86B |
| Minority interest | $338.5M | $368.3M | $216.8M | $206.3M | $220.2M | $226.5M | $135.8M | $90.8M | $101.0M | $1.3M |
| Total shareholders' equity | $5.66B | $5.09B | $3.91B | $3.32B | $2.13B | $1.51B | $1.97B | $1.78B | $1.26B | $691.4M |
| Key figures | ||||||||||
| Total debt | $3.55B | $2.11B | $2.27B | $1.21B | $1.56B | $1.84B | $1.60B | $1.31B | $586.7M | $589.9M |
| Net cash (debt) | −$3.47B | −$2.09B | −$2.22B | −$702.0M | −$1.51B | −$1.78B | −$1.56B | −$1.25B | −$490.2M | −$377.0M |
| Working capital | −$214.9M | −$68.0M | $30.6M | $496.0M | −$93.5M | −$29.3M | −$121.3M | −$24.3M | −$25.4M | $109.7M |
| Tangible book value | $5.66B | $5.09B | $3.91B | $3.32B | $2.13B | $1.51B | $1.97B | $1.78B | $1.26B | $691.4M |
| Book value per share | $45.42 | $41.02 | $32.60 | $27.61 | $17.85 | $13.04 | $16.82 | $15.65 | $12.26 | $7.58 |
| Shares outstanding | 124.6M | 124.1M | 120.0M | 120.1M | 119.2M | 116.1M | 117.1M | 113.7M | 102.5M | 91.3M |
| Current ratio | 0.79 | 0.93 | 1.04 | 1.86 | 0.80 | 0.90 | 0.70 | 0.93 | 0.91 | 1.65 |
| Quick ratio | 0.59 | 0.68 | 0.77 | 1.67 | 0.62 | 0.67 | 0.57 | 0.64 | 0.84 | 1.60 |
| Debt / equity | 0.63 | 0.42 | 0.58 | 0.36 | 0.73 | 1.22 | 0.81 | 0.74 | 0.47 | 0.85 |
| Equity / assets | 47.7% | 46.9% | 50.6% | 59.7% | 49.9% | 41.0% | 48.4% | 51.5% | 58.6% | 47.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $26.3M | $92.5M | $79.5M | $20.1M | $86.8M | $14.5M | $23.0M | $23.3M | $15.2M | $74.3M | $106.3M | $25.9M |
| Cash & equivalents | $26.3M | $92.5M | $79.5M | $20.1M | $86.8M | $14.5M | $23.0M | $23.3M | $15.2M | $74.3M | $106.3M | $25.9M |
| Short-term investments | — | — | — | — | — | — | — | −$2.3M | — | — | — | — |
| Receivables | $671.1M | $715.4M | $529.8M | $639.9M | $658.8M | $573.1M | $654.7M | $606.1M | $498.9M | $528.5M | $473.0M | $477.6M |
| Inventory | $50.2M | $45.6M | $43.8M | $43.5M | $43.1M | $35.0M | $38.5M | $34.1M | $38.0M | $39.9M | $41.8M | $35.5M |
| Other current assets | $259.5M | $231.3M | $163.4M | $213.3M | $127.2M | $268.4M | $211.1M | $183.7M | $186.2M | $111.4M | $94.8M | $172.4M |
| Total current assets | $1.01B | $1.08B | $816.6M | $916.8M | $915.9M | $891.1M | $927.3M | $847.2M | $738.4M | $754.1M | $715.9M | $711.4M |
| Property, plant & equipment (net) | $12.26B | $10.94B | $10.87B | $10.56B | $10.20B | $10.01B | $47.5M | $45.7M | $7.68B | $7.38B | $7.00B | $6.68B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $115.0M | $0 | $0 | $0 | $0 |
| Other non-current assets | $224.2M | $154.6M | $186.5M | $170.0M | $162.1M | $179.0M | $9.88B | $9.62B | $102.2M | $94.3M | $48.2M | $51.9M |
| Total assets | $13.49B | $12.17B | $11.87B | $11.65B | $11.28B | $11.08B | $10.85B | $10.62B | $8.52B | $8.23B | $7.76B | $7.44B |
| Liabilities | ||||||||||||
| Accounts payable | $836.8M | $702.4M | $179.3M | $125.6M | $143.7M | $129.0M | $147.1M | $114.2M | $96.2M | $121.8M | $68.2M | $81.4M |
| Short-term debt | — | — | $66.2M | $110.1M | — | $455,000 | — | $86.6M | $4.4M | $37.7M | $38.2M | $4.4M |
| Deferred revenue | — | $61.1M | — | — | $109.5M | — | — | $55.1M | $56.4M | $37.7M | $20.0M | −$67.8M |
| Total current liabilities | $1.55B | $1.48B | $1.03B | $1.26B | $1.07B | $1.13B | $995.4M | $966.0M | $856.5M | $851.3M | $685.3M | $722.3M |
| Long-term debt | $4.22B | $3.47B | $3.40B | $3.22B | $3.29B | $3.18B | $3.33B | $3.60B | $1.98B | $1.97B | $2.21B | $2.19B |
| Lease obligations | $107.3M | $97.1M | $85.0M | $110.1M | $93.8M | $92.0M | $92.4M | $86.6M | $72.5M | $69.0M | $62.0M | $67.8M |
| Other long-term liabilities | $1.48B | $1.31B | $1.44B | $1.31B | $1.20B | $1.13B | $76.6M | $964.9M | $824.6M | $768.3M | $745.4M | $652.9M |
| Total liabilities | $7.24B | $6.26B | $5.88B | $5.79B | $5.55B | $5.44B | $5.39B | $5.53B | $3.66B | $3.59B | $3.64B | $3.56B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.2M | $1.2M | $1.2M | $1.3M | $1.3M | $1.3M | $1.3M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M |
| Retained earnings (deficit) | $3.41B | $3.07B | $3.15B | $3.01B | $2.87B | $2.76B | $2.56B | $2.37B | $2.15B | $1.95B | $1.78B | $1.55B |
| Accumulated other comprehensive income | — | — | — | — | — | $0 | — | — | $0 | $0 | $0 | $0 |
| Minority interest | $322.3M | $328.2M | $338.5M | $349.8M | $360.3M | — | — | — | — | — | — | — |
| Total shareholders' equity | $5.93B | $5.58B | $5.66B | $5.51B | $5.37B | $5.29B | $5.09B | $4.87B | $4.63B | $4.42B | $3.91B | $3.66B |
| Key figures | ||||||||||||
| Total debt | $3.30B | $3.47B | $3.55B | $3.33B | $3.29B | $3.27B | $2.11B | $3.68B | $1.99B | $1.97B | $2.26B | $2.20B |
| Net cash (debt) | −$3.27B | −$3.38B | −$3.47B | −$3.31B | −$3.20B | −$3.25B | −$2.09B | −$3.66B | −$1.97B | −$1.90B | −$2.15B | −$2.17B |
| Working capital | −$542.0M | −$394.2M | −$214.9M | −$340.4M | −$156.0M | −$238.5M | −$68.0M | −$118.8M | −$118.1M | −$97.2M | $30.6M | −$11.0M |
| Tangible book value | $5.93B | $5.58B | $5.66B | $5.51B | $5.37B | $5.29B | $5.09B | $4.87B | $4.63B | $4.42B | $3.91B | $3.66B |
| Book value per share | $47.75 | $45.23 | $45.53 | $44.14 | $43.12 | $42.18 | $40.57 | $38.97 | $37.08 | $36.74 | $32.60 | $30.50 |
| Shares outstanding | 124.2M | 123.5M | 124.3M | 124.7M | 124.5M | 125.3M | 125.4M | 125.0M | 124.9M | 120.3M | 120.0M | 120.1M |
| Current ratio | 0.65 | 0.73 | 0.79 | 0.73 | 0.85 | 0.79 | 0.93 | 0.88 | 0.86 | 0.89 | 1.04 | 0.98 |
| Quick ratio | 0.45 | 0.55 | 0.59 | 0.52 | 0.70 | 0.52 | 0.68 | 0.65 | 0.60 | 0.71 | 0.85 | 0.70 |
| Debt / equity | 0.56 | 0.62 | 0.63 | 0.60 | 0.61 | 0.62 | 0.42 | 0.76 | 0.43 | 0.45 | 0.58 | 0.60 |
| Equity / assets | 43.9% | 45.9% | 47.7% | 47.3% | 47.6% | 47.7% | 46.9% | 45.8% | 54.4% | 53.7% | 50.4% | 49.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
MTDR financial position
At the end of fiscal 2025 (December 31, 2025), Matador Resources had total assets of $11.9 billion (up 9.4% from a year earlier), total liabilities of $5.9 billion and shareholders' equity of $5.7 billion. It held $79.5 million in cash and short-term investments against $3.5 billion of debt, net debt of $3.5 billion. Its current ratio was 0.79. In the latest quarter (ended June 30, 2026) total assets were $13.5 billion and equity $5.9 billion.
Related: MTDR income statement, MTDR cash flow statement, MTDR key metrics. See the MTDR stock overview for the latest quote and news.
MTDR balance sheet FAQ
What are Matador Resources's total assets?
Matador Resources reported total assets of $11.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $10.9 billion a year earlier.
How much debt does Matador Resources have?
Matador Resources had $3.5 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.63.
How much cash does Matador Resources have?
Matador Resources held $79.5 million in cash and short-term investments at the end of fiscal 2025; with $3.5 billion of debt that is net debt of $3.5 billion.
What is Matador Resources's book value?
Matador Resources's shareholders' equity (book value) was $5.7 billion at the end of fiscal 2025, or $45.42 per share.
What is Matador Resources's current ratio?
Matador Resources had current assets of $816.6 million and current liabilities of $1.0 billion, a current ratio of 0.79 (current liabilities exceed current assets).