Diamondback Energy, Inc. (FANG) Income Statement
FANG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFANG revenue and net income
Where FANG's revenue goes
2025Each bar shows an amount and its share of revenue. FANG kept 11.1% of revenue as net income.
FANG profit margins
FANG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +36.3% | +16.2% | +39.8% | +42.1% |
| Gross profit | +6.3% | −7.6% | +52.7% | +47.6% |
| Operating income | +11.9% | −8.9% | — | — |
| Net income | −50.1% | −27.6% | — | — |
| EPS (diluted) | −25.0% | −20.6% | +31.7% | +21.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FANG quarterly EPS vs estimates
Diamondback Energy beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 2, 2026 (estimate $4.71).
FANG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.03B | $11.02B | $8.34B | $9.57B | $6.75B | $2.81B | $3.96B | $2.18B | $1.21B | $527.1M |
| Cost of revenue | $9.74B | $6.05B | $3.54B | $2.87B | $2.48B | $2.18B | $2.37B | $1.06B | $551.0M | $306.5M |
| Gross profit | $5.28B | $4.97B | $4.80B | $6.70B | $4.27B | $637.0M | $1.59B | $1.12B | $654.0M | $220.6M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $288.0M | $213.0M | $150.0M | $144.0M | $146.0M | $88.0M | $104.0M | $64.6M | $48.7M | $42.6M |
| Total operating expenses | $365.0M | $576.0M | $228.0M | $193.0M | $269.0M | $6.11B | $898.0M | $106.0M | $49.0M | $289.2M |
| Operating income | $4.92B | $4.40B | $4.57B | $6.51B | $4.00B | −$5.48B | $695.0M | $1.01B | $605.0M | −$68.6M |
| Interest income | $25.0M | $156.0M | $2.0M | $1.0M | $1.0M | $4.0M | $275.0M | $13.5M | $118.1M | $40.7M |
| Interest expense | $244.0M | $291.0M | $175.0M | $160.0M | $200.0M | $201.0M | $173.0M | $87.8M | $41.0M | $40.7M |
| Income before taxes | $1.87B | $4.50B | $4.25B | $5.74B | $2.91B | −$5.78B | $362.0M | $1.11B | $497.2M | −$164.7M |
| Income taxes | $327.0M | $800.0M | $912.0M | $1.17B | $631.0M | −$1.10B | $47.0M | $168.4M | −$19.6M | $192,000 |
| Net income | $1.66B | $3.34B | $3.14B | $4.39B | $2.18B | −$4.52B | $240.0M | $846.0M | $482.0M | −$165.0M |
| EBITDA | $7.16B | $7.64B | $6.17B | $7.23B | $4.37B | −$4.27B | $1.99B | $1.81B | $865.0M | $54.0M |
| EPS (diluted) | $12.03 | $16.04 | $18.01 | $24.04 | $11.27 | $3.04 | $6.49 | $6.11 | $5.18 | $1.72 |
| Gross margin | 35.2% | 45.1% | 57.5% | 70.1% | 63.3% | 22.6% | 40.2% | 51.3% | 54.3% | 41.9% |
| Operating margin | 32.7% | 39.9% | 54.8% | 68.0% | 59.3% | −194.7% | 17.5% | 46.5% | 50.2% | −13.0% |
| Net margin | 11.1% | 30.3% | 37.7% | 45.8% | 32.3% | −160.6% | 6.1% | 38.9% | 40.0% | −31.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.56B | $4.24B | $3.38B | $3.92B | $3.65B | $4.03B | $3.70B | $2.64B | $2.47B | $2.22B | $2.22B | $2.34B |
| Cost of revenue | $3.05B | $1.33B | $2.56B | $2.56B | $2.39B | $2.22B | $2.18B | $1.59B | $1.26B | $1.03B | $970.0M | $918.0M |
| Gross profit | $2.51B | $2.91B | $820.0M | $1.36B | $1.26B | $1.81B | $1.52B | $1.05B | $1.21B | $1.18B | $1.25B | $1.42B |
| Sales, general & admin | $72.0M | $79.0M | $78.0M | $70.0M | $67.0M | $73.0M | $72.0M | $49.0M | $46.0M | $46.0M | $39.0M | $34.0M |
| Total operating expenses | $1.66B | $2.80B | −$50.0M | $123.0M | $125.0M | $141.0M | $108.0M | $339.0M | $57.0M | $66.0M | $42.0M | $82.0M |
| Operating income | $2.51B | $116.0M | $870.0M | $1.24B | $1.14B | $1.67B | $1.41B | $710.0M | $1.16B | $1.12B | $1.21B | $1.34B |
| Interest expense | $56.0M | $63.0M | $78.0M | $70.0M | $56.0M | $40.0M | $34.0M | $18.0M | $44.0M | $39.0M | $37.0M | $37.0M |
| Income before taxes | $2.63B | $176.0M | −$2.33B | $1.37B | $943.0M | $1.89B | $1.41B | $918.0M | $1.15B | $1.03B | $1.27B | $1.27B |
| Income taxes | $580.0M | $32.0M | −$567.0M | $287.0M | $204.0M | $403.0M | $115.0M | $210.0M | $252.0M | $223.0M | $264.0M | $276.0M |
| Net income | $1.88B | $144.0M | −$1.46B | $1.02B | $699.0M | $1.41B | $1.07B | $659.0M | $837.0M | $768.0M | $960.0M | $915.0M |
| EBITDA | $3.96B | $1.29B | −$839.0M | $2.72B | $2.26B | $3.02B | $2.76B | $1.67B | $1.67B | $1.54B | $1.78B | $1.74B |
| EPS (diluted) | $6.48 | $4.23 | $1.74 | $3.08 | $2.67 | $4.54 | $3.64 | $3.38 | $4.52 | $4.50 | $4.74 | $5.49 |
| Gross margin | 45.2% | 68.7% | 24.3% | 34.6% | 34.6% | 45.0% | 41.1% | 39.8% | 49.0% | 53.4% | 56.2% | 60.8% |
| Operating margin | 45.2% | 2.7% | 25.8% | 31.5% | 31.2% | 41.5% | 38.2% | 26.9% | 46.7% | 50.4% | 54.4% | 57.3% |
| Net margin | 33.8% | 3.4% | −43.2% | 25.9% | 19.1% | 34.9% | 29.1% | 25.0% | 33.8% | 34.6% | 43.3% | 39.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FANG's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FANG financial results
In fiscal year 2025 (ended December 31, 2025), Diamondback Energy reported revenue of $15.0 billion, up 36.3% from the year before. It had net income of $1.7 billion (down 50.1%), a net profit margin of 11.1%. Diluted earnings per share came to $12.03. Over five years revenue grew at an average rate of 39.8% a year.
See the FANG stock overview for the latest quote and news, or the FANG chart for price history and technical indicators.
FANG income statement FAQ
What is Diamondback Energy's annual revenue?
Diamondback Energy reported total revenue of $15.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 36.3% from $11.0 billion the previous year.
Is Diamondback Energy profitable?
Yes. Diamondback Energy reported net income of $1.7 billion in fiscal 2025, a net profit margin of 11.1%; its operating margin was 32.7%.
What is Diamondback Energy's gross margin?
Diamondback Energy's gross margin was 35.2% in fiscal 2025: for every $100 of revenue, Diamondback Energy kept $35 after the direct cost of its products and services.
How fast is Diamondback Energy growing?
Revenue grew 39.8% a year on average over the last five fiscal years, from $2.8 billion to $15.0 billion.
What are Diamondback Energy's earnings per share?
Diamondback Energy earned $12.03 per diluted share in fiscal 2025, compared with $16.04 a year earlier.
When will Diamondback Energy report its next earnings?
Diamondback Energy is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Diamondback Energy's fiscal year end?
Diamondback Energy's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.