Viper Energy Partners LP (VNOM) Balance Sheet
VNOM balance sheet, 2025
December 31, 2025 · U.S. dollars$12.67B assets = $2.31B liabilities + $10.36B equity
Both columns are drawn to the same scale: what VNOM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
VNOM financial health
Descriptive bands, not a rating. Fiscal 2025.
VNOM balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $670.5M2016 | $12.67B2025 | +38.6%/yr | |
| Total liabilities | $122.7M2016 | $2.31B2025 | +38.6%/yr | |
| Shareholders’ equity | $547.9M2016 | $4.45B2025 | +26.2%/yr | |
| Cash & short-term investments | $9.2M2016 | $13.0M2025 | +3.9%/yr | |
| Total debt | $120.5M2016 | $2.19B2025 | +38.0%/yr | |
| Net cash (debt) | −$111.3M2016 | −$2.17B2025 | −$2.1B | |
| Working capital | $21.3M2016 | $302.0M2025 | +$280.7M | |
| Book value per share | $6.592016 | $31.212025 | +18.9%/yr | |
| Current ratio | 10.882016 | 3.722025 | −7.16 | |
| Debt / equity | 0.222016 | 0.492025 | +0.27 | |
| Shares outstanding | 83.1M2016 | 142.5M2025 | +6.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
VNOM assets
VNOM liabilities and equity
VNOM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
VNOM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $13.0M | $26.9M | $25.9M | $18.2M | $39.4M | $19.1M | $3.6M | $22.7M | $24.2M | $9.2M |
| Cash & equivalents | $13.0M | $26.9M | $25.9M | $18.2M | $39.4M | $19.1M | $3.6M | $22.7M | $24.2M | $9.2M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $500,000 |
| Receivables | $350.0M | $182.4M | $112.8M | $88.6M | $70.7M | $34.2M | $68.7M | $42.3M | $30.9M | $13.5M |
| Inventory | $0 | $0 | $358,000 | $9.3M | $1 | $0 | $1 | $0 | $0 | $500,000 |
| Other current assets | $50.0M | $28.8M | $4.5M | $2.5M | $988,999 | $665,000 | $396,999 | $257,000 | $355,000 | $187,000 |
| Total current assets | $413.0M | $238.0M | $143.5M | $118.6M | $111.1M | $54.0M | $72.7M | $65.2M | $55.4M | $23.4M |
| Property, plant & equipment (net) | $12.21B | $4.64B | $3.77B | $2.75B | $2.92B | $2.41B | $2.55B | $1.47B | $914.4M | $611.9M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14.5M | $33.9M | $0 |
| Other non-current assets | $49.0M | $193.4M | $62.3M | $51.5M | $2.8M | $2.3M | $165.3M | $100.2M | $9.3M | $35.3M |
| Total assets | $12.67B | $5.07B | $3.97B | $2.92B | $3.03B | $2.46B | $2.79B | $1.65B | $1.01B | $670.5M |
| Liabilities | ||||||||||
| Accounts payable | — | $85,000 | $19,000 | $1.1M | $69,000 | $43,000 | $150,000 | $6.0M | $3.0M | $1.8M |
| Short-term debt | — | — | — | $576.9M | $3.4M | $26.6M | — | — | $93.5M | $120.5M |
| Deferred revenue | — | — | — | $49.7M | — | — | — | — | — | — |
| Total current liabilities | $111.0M | $48.7M | $33.3M | $21.9M | $24.5M | $44.9M | $13.4M | $6.0M | $5.6M | $2.2M |
| Long-term debt | $2.19B | $1.08B | $1.08B | $576.9M | $776.7M | $555.6M | $586.8M | $411.0M | $93.5M | $120.5M |
| Other long-term liabilities | $11.0M | $30.1M | $201,000 | $7,000 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $2.31B | $1.16B | $1.12B | $598.8M | $801.2M | $600.5M | $600.2M | $417.0M | $99.1M | $122.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | $690.0M | $814.1M | $634.4M | $930.2M | $541.1M | $913.9M | $547.9M |
| Retained earnings (deficit) | −$278.0M | $118.4M | −$16.8M | $568.6M | $234.6M | — | — | −$790.4M | $0 | $0 |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | $0 | −$690.7M | — | — | −$326.5M | −$248.3M | −$189.5M | −$148.9M |
| Minority interest | $5.92B | $2.22B | $1.84B | $1.63B | — | — | — | $694.9M | $0 | $0 |
| Total shareholders' equity | $4.45B | $1.69B | $1.01B | $690.0M | $2.23B | $1.86B | $930.2M | $541.1M | $913.9M | $547.9M |
| Key figures | ||||||||||
| Total debt | $2.19B | $1.08B | $1.08B | $576.9M | $780.1M | $582.2M | $586.8M | $411.0M | $93.5M | $120.5M |
| Net cash (debt) | −$2.17B | −$1.06B | −$1.06B | −$558.7M | −$740.7M | −$563.1M | −$583.2M | −$388.3M | −$69.3M | −$111.3M |
| Working capital | $302.0M | $189.3M | $110.3M | $96.7M | $86.7M | $9.1M | $59.2M | $59.2M | $49.8M | $21.3M |
| Tangible book value | $4.45B | $1.69B | $1.01B | $690.0M | $2.23B | $1.86B | $930.2M | $541.1M | $913.9M | $547.9M |
| Book value per share | $31.21 | $17.96 | $13.67 | $9.12 | $32.65 | $27.49 | $15.06 | $7.55 | $8.76 | $6.59 |
| Shares outstanding | 142.5M | 93.9M | 74.2M | 75.7M | 68.4M | 67.7M | 61.8M | 71.6M | 104.4M | 83.1M |
| Current ratio | 3.72 | 4.89 | 4.32 | 5.41 | 4.54 | 1.20 | 5.41 | 10.83 | 9.85 | 10.88 |
| Quick ratio | 3.27 | 4.30 | 4.17 | 4.87 | 4.50 | 1.19 | 5.38 | 10.79 | 9.79 | 10.57 |
| Debt / equity | 0.49 | 0.64 | 1.07 | 0.84 | 0.35 | 0.31 | 0.63 | 0.76 | 0.10 | 0.22 |
| Equity / assets | 35.1% | 33.3% | 25.5% | 23.6% | 73.6% | 75.6% | 33.4% | 32.7% | 90.2% | 81.7% |
| 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 | $77.0M | $28.0M | $13.0M | $53.0M | $443.0M | $560.0M | $26.9M | $168.6M | $35.2M | $20.0M | $25.9M | $146.8M |
| Cash & equivalents | $77.0M | $28.0M | $13.0M | $53.0M | $443.0M | $560.0M | $26.9M | $168.6M | $35.2M | $20.0M | $25.9M | $146.8M |
| Receivables | $488.0M | $400.0M | $350.0M | $384.0M | $386.0M | $189.0M | $182.4M | $144.9M | $166.7M | $165.1M | $112.8M | $111.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $0 | $358,000 | $0 |
| Other current assets | $15.0M | $41.0M | $50.0M | $450.0M | $58.0M | $43.0M | $28.8M | $6.7M | $3.5M | $4.7M | $4.5M | $4.1M |
| Total current assets | $580.0M | $469.0M | $413.0M | $887.0M | $887.0M | $792.0M | $238.0M | $320.2M | $205.4M | $189.8M | $143.5M | $262.1M |
| Property, plant & equipment (net) | $11.30B | $11.42B | $12.21B | $12.78B | $12.78B | $4.96B | $4.64B | $3.76B | $3.61B | $3.74B | $3.77B | $2.78B |
| 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 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $170.0M | $157.0M | $49.0M | $18.0M | $18.0M | $491.0M | $193.4M | $125.0M | $83.5M | $81.0M | $62.3M | $104.3M |
| Total assets | $12.05B | $12.05B | $12.67B | $13.69B | $13.69B | $6.24B | $5.07B | $4.21B | $3.90B | $4.01B | $3.97B | $3.14B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | $2.0M | $85,000 | $26,000 | $19,000 | $17,000 | $19,000 | $197,000 |
| Short-term debt | — | — | — | — | $380.0M | — | — | — | — | — | — | — |
| Total current liabilities | $91.0M | $76.0M | $111.0M | $472.0M | $472.0M | $91.0M | $48.7M | $44.2M | $29.1M | $54.9M | $33.3M | $47.5M |
| Long-term debt | $1.68B | $1.60B | $2.19B | $2.24B | $1.10B | $822.0M | $1.08B | $821.5M | $998.0M | $1.09B | $1.08B | $675.7M |
| Other long-term liabilities | $4.0M | $4.0M | $11.0M | $34.0M | $1.18B | $2.0M | $30.1M | $4.8M | $0 | $0 | $201,000 | $1.6M |
| Total liabilities | $1.77B | $1.68B | $2.31B | $2.75B | $2.75B | $915.0M | $1.16B | $870.5M | $1.03B | $1.15B | $1.12B | $724.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | — | — | — | — | $713.5M |
| Retained earnings (deficit) | −$273.0M | −$281.0M | −$278.0M | −$76.0M | −$76.0M | $108.0M | $118.4M | −$28.7M | −$18.9M | −$21.8M | −$16.8M | — |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | $0 | — |
| Minority interest | $5.25B | $5.25B | $5.92B | $6.32B | $5.19B | — | — | — | — | — | — | — |
| Total shareholders' equity | $5.04B | $5.11B | $4.45B | $4.62B | $4.62B | $2.67B | $1.69B | $1.40B | $1.09B | $1.08B | $1.01B | $713.5M |
| Key figures | ||||||||||||
| Total debt | $1.68B | $1.60B | $2.19B | $2.24B | $2.62B | $822.0M | $1.08B | $821.5M | $998.0M | $1.09B | $1.08B | $675.7M |
| Net cash (debt) | −$1.60B | −$1.57B | −$2.17B | −$2.19B | −$2.18B | −$262.0M | −$1.06B | −$652.9M | −$962.8M | −$1.07B | −$1.06B | −$528.9M |
| Working capital | $489.0M | $393.0M | $302.0M | $415.0M | $415.0M | $701.0M | $189.3M | $276.0M | $176.3M | $134.9M | $110.3M | $214.6M |
| Tangible book value | $5.04B | $5.11B | $4.45B | $4.62B | $4.62B | $2.67B | $1.69B | $1.40B | $1.09B | $1.08B | $1.01B | $713.5M |
| Book value per share | $25.99 | $28.21 | $26.38 | $27.30 | $31.03 | $22.09 | $16.38 | $14.94 | $11.92 | $12.32 | $12.49 | $10.06 |
| Shares outstanding | 193.7M | 181.3M | 168.6M | 169.3M | 148.9M | 121.0M | 103.0M | 93.7M | 91.4M | 87.6M | 81.2M | 70.9M |
| Current ratio | 6.37 | 6.17 | 3.72 | 1.88 | 1.88 | 8.70 | 4.89 | 7.24 | 7.06 | 3.46 | 4.32 | 5.52 |
| Quick ratio | 6.21 | 5.63 | 3.27 | 0.93 | 1.76 | 8.23 | 4.30 | 7.09 | 6.94 | 3.37 | 4.17 | 5.43 |
| Debt / equity | 0.33 | 0.31 | 0.49 | 0.49 | 0.57 | 0.31 | 0.64 | 0.59 | 0.92 | 1.01 | 1.07 | 0.95 |
| Equity / assets | 41.8% | 42.4% | 35.1% | 33.8% | 33.8% | 42.9% | 33.3% | 33.3% | 27.9% | 26.9% | 25.5% | 22.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
VNOM financial position
At the end of fiscal 2025 (December 31, 2025), Viper Energy Partners had total assets of $12.7 billion (up 150.0% from a year earlier), total liabilities of $2.3 billion and shareholders' equity of $4.4 billion. It held $13.0 million in cash and short-term investments against $2.2 billion of debt, net debt of $2.2 billion. Its current ratio was 3.72. In the latest quarter (ended June 30, 2026) total assets were $12.1 billion and equity $5.0 billion.
Related: VNOM income statement, VNOM cash flow statement, VNOM key metrics. See the VNOM stock overview for the latest quote and news.
VNOM balance sheet FAQ
What are Viper Energy Partners's total assets?
Viper Energy Partners reported total assets of $12.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.1 billion a year earlier.
How much debt does Viper Energy Partners have?
Viper Energy Partners had $2.2 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.49.
How much cash does Viper Energy Partners have?
Viper Energy Partners held $13.0 million in cash and short-term investments at the end of fiscal 2025; with $2.2 billion of debt that is net debt of $2.2 billion.
What is Viper Energy Partners's book value?
Viper Energy Partners's shareholders' equity (book value) was $4.4 billion at the end of fiscal 2025, or $31.21 per share.
What is Viper Energy Partners's current ratio?
Viper Energy Partners had current assets of $413.0 million and current liabilities of $111.0 million, a current ratio of 3.72 (it can cover its short-term obligations).