Diamondback Energy, Inc. (FANG) Key Metrics
FANG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $57.11B
- Enterprise value
- $64.14B
- P/E (TTM)
- 38.8 10-yr median 11.0
- Forward P/E
- 10.0
- PEG ratio
- 22.29
- Price / sales
- 3.5 10-yr median 3.3
- Price / book
- 1.4 10-yr median 1.4
- EV / EBITDA
- 8.7 10-yr median 7.7
- Dividend yield
- 2.16% $4.40 a year
- Beta
- 0.54
FANG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFANG valuation Price multiples at each fiscal year-end price.
FANG returns How much profit the business earns on the capital it uses.
FANG per-share figures Results divided by the shares outstanding at year-end.
FANG financial health Debt, liquidity and how easily interest is covered.
FANG efficiency & capital use Working capital cycle and where the cash goes.
FANG valuation history
FANG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FANG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FANG cash returned to shareholders
FANG price vs earnings per share
FANG key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $43.46B | $34.99B | $27.91B | $24.15B | $19.13B | $7.65B | $15.21B | $9.73B | $12.33B | $7.59B |
| Enterprise value | $58.23B | $47.25B | $34.13B | $30.37B | $25.25B | $13.47B | $20.58B | $14.04B | $13.73B | $7.04B |
| P/E ratio | 26.1 | 10.5 | 8.9 | 5.5 | 8.8 | — | 63.4 | 11.5 | 25.6 | — |
| Price / sales | 2.9 | 3.2 | 3.3 | 2.5 | 2.8 | 2.7 | 3.8 | 4.5 | 10.2 | 14.4 |
| Price / book | 1.2 | 0.9 | 1.7 | 1.6 | 1.6 | 0.9 | 1.0 | 0.7 | 2.3 | 2.1 |
| Price / free cash flow | 8.3 | — | 23.1 | 8.6 | 11.6 | 103.3 | — | — | — | — |
| Price / operating cash flow | 5.0 | 5.5 | 4.7 | 3.8 | 4.8 | 3.6 | 5.6 | 6.2 | 13.9 | 22.8 |
| EV / sales | 3.9 | 4.3 | 4.1 | 3.2 | 3.7 | 4.8 | 5.2 | 6.5 | 11.4 | 13.4 |
| EV / EBITDA | 8.1 | 6.2 | 5.5 | 4.2 | 5.8 | — | 10.4 | 7.7 | 15.9 | 130.4 |
| EV / free cash flow | 11.1 | — | 28.3 | 10.8 | 15.3 | 182.1 | — | — | — | — |
| Earnings yield | 3.8% | 9.5% | 11.3% | 18.2% | 11.4% | −59.1% | 1.6% | 8.7% | 3.9% | −2.2% |
| Free cash flow yield | 12.0% | −15.4% | 4.3% | 11.7% | 8.6% | 1.0% | −6.4% | −19.6% | −19.6% | −11.3% |
| Dividend yield | 2.7% | 4.5% | 5.2% | 6.5% | 1.6% | 3.1% | 0.7% | 0.4% | 0.3% | 0.5% |
| Shareholder yield (dividends + buybacks) | 7.3% | 7.3% | 8.5% | 11.7% | 4.4% | 4.9% | 4.7% | 0.5% | 0.3% | 0.5% |
| Share price at fiscal year-end | $150.33 | $163.83 | $155.08 | $136.78 | $107.85 | $48.40 | $92.86 | $92.70 | $126.25 | $101.06 |
| Per share | ||||||||||
| Revenue per share | $51.98 | $51.62 | $46.33 | $54.19 | $38.04 | $17.81 | $24.19 | $20.74 | $12.34 | $7.02 |
| Earnings per share | $5.76 | $15.63 | $17.46 | $24.84 | $12.30 | −$28.59 | $1.46 | $8.06 | $4.93 | −$2.20 |
| Operating cash flow per share | $30.30 | $30.03 | $32.89 | $35.83 | $22.24 | $13.41 | $16.69 | $14.91 | $9.10 | $4.42 |
| Free cash flow per share | $18.11 | −$25.17 | $6.70 | $15.97 | $9.27 | $0.47 | −$5.91 | −$18.21 | −$24.70 | −$11.44 |
| Cash per share | $0.37 | $0.75 | $3.23 | $0.89 | $3.69 | $0.66 | $0.75 | $2.04 | $1.15 | $22.20 |
| Book value per share | $127.90 | $176.71 | $92.36 | $85.02 | $68.16 | $55.67 | $90.98 | $130.56 | $53.79 | $49.25 |
| Tangible book value per share | $127.90 | $176.71 | $92.36 | $85.02 | $68.16 | $55.67 | $90.93 | $130.56 | $53.79 | $49.25 |
| Dividends per share | $4.00 | $7.39 | $8.02 | $8.90 | $1.76 | $1.49 | $0.68 | $0.35 | $0.38 | $0.49 |
| Capex per share | $12.19 | $55.20 | $26.19 | $19.85 | $12.96 | $12.94 | $22.59 | $33.13 | $33.80 | $15.87 |
| Debt per share | $51.47 | $58.20 | $37.78 | $36.13 | $38.19 | $37.54 | $33.51 | $43.11 | $15.41 | $14.91 |
| Shares outstanding | 289.1M | 213.5M | 180.0M | 176.5M | 177.4M | 158.0M | 163.8M | 104.9M | 97.7M | 75.1M |
| Change in shares outstanding | +35.4% | +18.6% | +2.0% | −0.5% | +12.3% | −3.6% | +56.1% | +7.4% | +30.1% | +19.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 4.5% | 12.3% | 19.9% | 32.4% | 20.9% | −38.1% | 1.7% | 8.9% | 10.8% | −5.9% |
| Return on invested capital (ROIC) | 8.0% | 9.9% | 16.3% | 26.2% | 19.1% | −24.8% | 3.2% | 7.0% | 12.3% | −2.0% |
| Return on assets (ROA) | 2.4% | 6.9% | 11.4% | 17.9% | 10.8% | −22.0% | 1.1% | 5.8% | 7.3% | −4.1% |
| Return on tangible assets | 2.3% | 5.0% | 10.8% | 16.7% | 9.5% | −25.6% | 1.0% | 3.9% | 6.2% | −3.1% |
| Free cash flow margin | 34.8% | −48.8% | 14.5% | 29.5% | 24.4% | 2.6% | −24.4% | −87.8% | −200.2% | −163.0% |
| Income quality (OCF / net income) | 5.26 | 1.92 | 1.88 | 1.44 | 1.81 | — | 11.39 | 1.85 | 1.84 | — |
| Financial health | ||||||||||
| Total debt | $14.88B | $12.43B | $6.80B | $6.38B | $6.77B | $5.93B | $5.49B | $4.52B | $1.51B | $1.12B |
| Cash & short-term investments | $106.0M | $161.0M | $582.0M | $157.0M | $654.0M | $104.0M | $123.0M | $214.5M | $112.4M | $1.67B |
| Net debt | $14.77B | $12.27B | $6.22B | $6.22B | $6.12B | $5.83B | $5.37B | $4.31B | $1.39B | −$546.8M |
| Debt / equity | 0.40 | 0.33 | 0.41 | 0.43 | 0.56 | 0.67 | 0.37 | 0.33 | 0.29 | 0.30 |
| Debt / assets | 0.21 | 0.18 | 0.23 | 0.24 | 0.30 | 0.34 | 0.23 | 0.21 | 0.19 | 0.21 |
| Net debt / EBITDA | 2.06 | 1.61 | 1.01 | 0.86 | 1.40 | — | 2.70 | 2.38 | 1.61 | −10.13 |
| Current ratio | 0.42 | 0.44 | 0.77 | 0.81 | 1.01 | 0.49 | 0.69 | 0.91 | 0.62 | 8.56 |
| Quick ratio | 0.40 | 0.41 | 0.74 | 0.77 | 0.96 | 0.46 | 0.66 | 0.87 | 0.61 | 8.55 |
| Interest coverage | 20.2 | 15.1 | 26.1 | 40.7 | 20.0 | -27.2 | 4.0 | 11.5 | 14.8 | -1.7 |
| Working capital | −$2.69B | −$2.70B | −$487.0M | −$324.0M | $8.0M | −$634.0M | −$394.0M | −$94.6M | −$218.8M | $1.58B |
| Invested capital | $51.74B | $50.00B | $22.84B | $21.23B | $18.21B | $14.62B | $20.27B | $18.01B | $6.65B | $3.15B |
| Tangible asset value | $42.97B | $39.86B | $17.43B | $15.69B | $13.24B | $9.80B | $14.90B | $14.17B | $5.58B | $4.02B |
| Net current asset value | −$26.18B | −$25.32B | −$9.95B | −$9.13B | −$8.21B | −$7.21B | −$7.76B | −$6.50B | −$1.83B | $460.8M |
| Graham number | $128.70 | $249.30 | $190.49 | $218.00 | $137.35 | — | $54.76 | $153.90 | $77.28 | — |
| Graham net-net per share | −$93.07 | −$121.86 | −$57.35 | −$54.23 | −$47.73 | −$46.63 | −$48.96 | −$65.50 | −$19.43 | $5.68 |
| Capital allocation | ||||||||||
| Dividends paid | $1.16B | $1.58B | $1.44B | $1.57B | $312.0M | $236.0M | $112.0M | $37.0M | $37.0M | $37.0M |
| Share buybacks (net) | $2.01B | $959.0M | $935.0M | $1.25B | $525.0M | $137.0M | $606.0M | $14.5M | $0 | $0 |
| Dividend payout ratio | 69.5% | 47.3% | 45.9% | 35.8% | 14.3% | — | 46.7% | 4.4% | 7.7% | — |
| Dividends + buybacks / free cash flow | 60.5% | — | 197.3% | 100.1% | 50.9% | 504.1% | — | — | — | — |
| Capex / revenue | 23.4% | 106.9% | 56.5% | 36.6% | 34.1% | 72.7% | 93.4% | 159.7% | 274.0% | 226.0% |
| Capex / operating cash flow | 40.2% | 183.8% | 79.6% | 55.4% | 58.3% | 96.5% | 135.4% | 222.1% | 371.4% | 358.7% |
| Capex / depreciation | 0.70 | 4.14 | 2.70 | 2.61 | 1.80 | 0.27 | 1.49 | 5.58 | 10.10 | 6.69 |
| Stock-based compensation / revenue | — | 0.6% | 0.6% | 0.6% | 0.8% | 1.3% | 1.2% | 1.2% | 2.2% | 5.0% |
| SG&A / revenue | 1.9% | 1.9% | 1.8% | 1.5% | 2.2% | 3.1% | 2.6% | 3.0% | 4.0% | 8.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 36.1 | 40.3 | 40.6 | 32.0 | 30.0 | 68.3 | 48.1 | 55.5 | 53.3 | 68.9 |
| Days of inventory on hand | 3.8 | 5.4 | 6.7 | 8.2 | 7.0 | 5.9 | 5.7 | 8.0 | 3.7 | 2.2 |
| Days payables outstanding | 26.6 | 15.5 | 20.0 | 10.4 | 7.9 | 21.0 | 23.6 | 38.4 | 47.1 | 40.3 |
| Cash conversion cycle (days) | 13.3 | 30.2 | 27.3 | 29.8 | 29.1 | 53.2 | 30.2 | 25.2 | 9.8 | 30.8 |
| Receivables turnover | 10.12 | 9.06 | 9.00 | 11.41 | 12.18 | 5.35 | 7.59 | 6.58 | 6.85 | 5.30 |
| Payables turnover | 13.71 | 23.54 | 18.25 | 35.15 | 46.30 | 17.41 | 15.45 | 9.52 | 7.75 | 9.06 |
| Inventory turnover | 96.47 | 67.61 | 54.48 | 44.42 | 52.15 | 62.17 | 63.59 | 45.37 | 99.36 | 165.19 |
| Asset turnover | 0.22 | 0.23 | 0.30 | 0.39 | 0.33 | 0.14 | 0.18 | 0.15 | 0.18 | 0.13 |
| Average receivables | $1.49B | $1.22B | $926.5M | $838.5M | $554.0M | $526.0M | $522.5M | $330.8M | $175.9M | $99.5M |
| Average payables | $710.5M | $257.0M | $194.0M | $81.5M | $53.5M | $125.0M | $153.5M | $111.3M | $71.1M | $33.8M |
| Average inventory | $101.0M | $89.5M | $65.0M | $64.5M | $47.5M | $35.0M | $37.3M | $23.3M | $5.5M | $1.9M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from FANG's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FANG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Diamondback Energy traded at 26.1 times earnings, against a 10-year median of 11.0. Based on the latest twelve months, the trailing P/E is 38.8 and the forward P/E is 10.0. Diamondback Energy earned a return on equity of 4.5% and a return on invested capital of 8.0% in fiscal 2025. It ended the year with $14.9 billion of debt and $106.0 million in cash and short-term investments, net debt of $14.8 billion. It returned $3.2 billion to shareholders: $1.2 billion in dividends and $2.0 billion in share buybacks, 60% of free cash flow. The share count rose 285.0% from 75.1M to 289.1M over 9 years.
See the FANG income statement, the FANG chart for price history, or the FANG stock overview for the latest quote and news.
FANG key metrics FAQ
What is Diamondback Energy's P/E ratio?
Diamondback Energy's trailing P/E ratio is 38.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.0. At the end of fiscal 2025 it was 26.1, compared with a 10-year median of 11.0.
What is Diamondback Energy's EV/EBITDA?
Diamondback Energy's enterprise value was 8.1 times EBITDA at the end of fiscal 2025 (enterprise value $58.2 billion, EBITDA $7.2 billion); the current EV/EBITDA is 8.7.
What is Diamondback Energy's return on equity?
Diamondback Energy's return on equity (ROE) was 4.5% in fiscal 2025: net income of $1.7 billion on average shareholders' equity of $37.4 billion.
What is Diamondback Energy's ROIC?
Diamondback Energy's return on invested capital was 8.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Diamondback Energy have?
Diamondback Energy had total debt of $14.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.40 and $14.8 billion of net debt (2.06 times EBITDA).
What is Diamondback Energy's dividend yield?
Diamondback Energy's forward dividend yield is 2.16%. Diamondback Energy paid $1.2 billion in dividends in fiscal 2025 ($4.00 per share), a payout ratio of 69.5%.
Does Diamondback Energy buy back its shares?
Yes. Diamondback Energy spent $2.0 billion on net share repurchases in fiscal 2025 Shares outstanding changed +35.4% over the year, to 289.1M..
What is Diamondback Energy's free cash flow yield?
Diamondback Energy generated $5.2 billion of free cash flow in fiscal 2025, a free cash flow yield of 12.0% on its market value at year-end ($43.5 billion).
What is Diamondback Energy's current ratio?
Diamondback Energy's current ratio was 0.42 at the end of fiscal 2025: current assets were 0.42 times current liabilities.