Diamondback Energy, Inc.

10-K & 10-Q Filings

Diamondback Energy, Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. The company's business strategy includes exercising capital discipline, focusing on a low-cost development strategy, delivering on its enhanced capital return program, leveraging its experience operating in the Permian Basin, and pursuing strategic acquisitions with substantial resource potential. Diamondback's acreage position in the Permian Basin is approximately 607,877 gross (493,769 net) acres, consisting primarily of 428,324 gross (349,707 net) acres in the Midland Basin and 174,828 gross (143,742 net) acres in the Delaware Basin. The company is the operator of approximately 98% of its Permian Basin acreage and has identified a multi-year inventory of potential drilling locations for its oil-weighted reserves. Diamondback's executive team has a proven track record of executing on multi-rig development drilling programs and extensive experience in the Permian Basin. The company's website is [www.diamondbackenergy.com], and its ticker symbol is FANG on the Nasdaq Global Select Market.

12 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$74.96
208.00
495.72
446.73
527.11
1205.11
2179.18
3964.00
2813.00
6797.00
9643.00
8412.00
1925.00
2227.00
53.59%15.69%Cost of Revenue (-)
$
-0.00
94.03
149.77
97.99
179.00
245.00
301.00
398.00
194.00
Gross Profit (+)
$59.06
187.77
439.93
359.21
433.07
1055.34
2081.18
3785.00
2568.00
6496.00
8014.00
2033.00
56.27%Selling, General & Administrative (-)
$9.18
9.87
19.92
29.64
77.08
122.17
197.22
842.00
708.00
1136.00
1407.00
1547.00
387.00
420.00
59.38%8.53%Depreciation & Amortization (-)
$26.27
66.60
170.00
217.70
178.01
326.76
623.04
1447.00
1304.00
1275.00
1344.00
1746.00
403.00
469.00
46.45%16.38%Non-recurring Operating Expenses (-)
$
814.80
245.54
790.00
6021.00
Operating Expenses (-)
$57.66
112.81
283.05
1187.00
501.69
450.32
1067.48
3090.00
8044.00
2495.00
2863.00
3433.00
824.00
915.00
44.99%11.04%Costs & Expenses (Total) (-)
$57.66
112.81
283.05
1187.00
595.72
600.09
1165.47
3269.00
8289.00
2796.00
3135.00
3842.00
900.00
1109.00
46.48%23.22%Operating Income/Loss (+)
$17.31
95.19
212.67
-740.27
-68.62
605.02
1010.79
695.00
-5476.00
4001.00
6508.00
4570.00
1025.00
1118.00
66.02%9.07%Non-operating Income/Expense (+)
$1.07
-8.85
92.29
-8.83
-96.10
-107.83
102.47
-333.00
-300.00
-1094.00
-772.00
-322.00
-72.00
-86.00
-19.44%Interest Expense (-)
$3.61
8.06
34.52
40.68
40.55
87.28
172.00
197.00
199.00
159.00
175.00
46.00
46.00
42.31%0.00%Earnings before Tax (+)
$18.38
86.34
304.96
-749.10
-164.72
497.19
1113.26
362.00
-5776.00
2907.00
5736.00
4248.00
953.00
1032.00
64.02%8.29%Tax Expense (-)
$54.90
0.19
-201.31
0.19
-19.57
168.36
47.00
-1104.00
631.00
1174.00
912.00
207.00
223.00
29.11%7.73%Income/Loss (Continuing Operations) (+)
$-36.52
86.15
304.96
-547.79
-164.91
516.76
944.90
315.00
-4672.00
2276.00
4562.00
3336.00
746.00
809.00
8.45%Profit/Loss (+)
$
195.97
-547.79
-164.91
516.76
944.89
315.00
-4672.00
2276.00
4562.00
3336.00
746.00
809.00
8.45%Net Income/Loss (NCI) (-)
$
2.22
2.84
0.13
34.50
99.22
75.00
-155.00
94.00
176.00
193.00
34.00
41.00
20.59%Net Income/Loss (+)
$-36.52
54.59
193.75
-550.63
-165.03
482.26
845.67
240.00
-4517.00
2182.00
4386.00
3143.00
712.00
768.00
7.87%Net Income/Loss (Common) (+)
$-36.52
54.59
193.75
-550.63
-165.03
482.26
845.67
240.00
-4517.00
2182.00
4386.00
3143.00
712.00
768.00
7.87%EPS (Basic)
$
1.30
3.67
-8.74
-2.20
4.95
8.09
1.47
-28.59
12.35
24.61
17.34
3.88
4.28
10.31%EPS (Diluted)
$
1.29
3.64
-8.74
-2.20
4.94
8.06
1.47
-28.59
12.30
24.61
17.34
3.88
4.28
10.31%Weighted Avg Shares (Basic)
36.99
42.02
52.83
63.02
75.08
97.46
104.62
163.49
157.98
176.64
176.54
180.00
181.99
178.48
15.47%-1.93%Weighted Avg Shares (Diluted)
42.26
53.30
63.02
75.08
97.69
104.93
163.84
157.98
177.36
176.54
180.00
181.99
178.48
-1.93%Cash
$26.36
15.55
30.68
20.61
1667.07
112.45
214.52
128.00
108.00
672.00
164.00
585.00
53.00
899.00
32.55%1596.23%Receivables
$14.81
39.27
97.99
78.90
120.12
231.61
392.06
615.00
337.00
670.00
722.00
846.00
754.00
942.00
44.45%24.93%Inventory
$6.20
5.63
2.83
1.73
1.98
9.11
37.57
37.00
33.00
62.00
67.00
63.00
69.00
57.00
23.47%-17.39%Prepaid Expenses (Current)
$1.05
1.18
4.60
2.88
2.99
4.90
50.35
43.00
23.00
28.00
23.00
109.00
36.00
43.00
52.47%19.44%Other Assets (Current)
$1.86
0.33
115.61
4.62
0.53
230.53
46.00
101.00
14.00
416.00
18.00
248.00
7.00
22.94%-97.18%Assets (Current)
$50.27
61.97
251.71
108.75
1792.17
358.60
925.02
869.00
602.00
1446.00
1392.00
1621.00
1160.00
1948.00
37.13%67.93%Securities & Long-term Investments
$
115.63
588.00
634.00
701.00
652.00
613.00
659.00
612.00
-7.13%Property, Plant & Equipment (Net)
$554.24
1446.34
2791.81
2597.63
3390.86
7343.62
20371.97
21835.00
16214.00
20619.00
23759.00
26674.00
25514.00
27024.00
42.21%5.92%Accumulated Depreciation
$145.84
212.24
382.14
1413.54
1836.06
2161.37
2774.47
5003.00
12314.00
13545.00
14844.00
16429.00
15238.00
16891.00
53.65%10.85%Other Assets
$699.93
1667.81
3177.73
4014.59
5335.28
9492.98
23182.54
26952.00
28508.00
34110.00
37409.00
42523.00
39577.00
43346.00
45.26%9.52%Assets (Non-current)
$556.43
1459.65
2843.77
2649.67
3557.51
7412.38
20670.67
22662.00
16966.00
21440.00
24698.00
27380.00
26429.00
27742.00
42.50%4.97%Assets (Total)
$606.70
1521.61
3095.48
2758.41
5349.68
7770.98
21595.69
23531.00
17619.00
22898.00
26209.00
29001.00
27589.00
29690.00
42.13%7.62%Accounts Payable
$12.14
2.68
26.23
20.01
47.65
94.59
127.98
179.00
71.00
36.00
161.00
290.00
292.00
377.00
33.44%29.11%Debt (Current)
$0.14
191.00
45.00
10.00
10.00
Other Liabilities (Current)
$66.95
118.64
240.50
121.41
161.69
482.84
891.63
1084.00
974.00
1357.00
1545.00
1818.00
1584.00
1741.00
35.01%9.91%Liabilities (Current)
$79.23
121.32
266.73
141.42
209.34
577.43
1019.61
1263.00
1236.00
1438.00
1716.00
2108.00
1886.00
2118.00
34.75%12.30%Debt (Non-current)
$0.19
460.00
673.50
495.50
1105.91
1477.35
4464.34
5371.00
5624.00
6642.00
6238.00
6641.00
6950.00
6629.00
158.48%-4.62%Other Liabilities
$65.21
94.75
170.04
12.52
16.13
134.47
1945.47
1991.00
955.00
1573.00
2565.00
2822.00
2630.00
2924.00
40.85%11.18%Liabilities (Non-current)
$65.40
554.75
843.54
508.02
1122.05
1611.82
6409.81
7362.00
6579.00
8215.00
8803.00
9463.00
9580.00
9553.00
57.18%-0.28%Liabilities (Total)
$144.63
676.07
1110.27
649.44
1331.39
2189.25
7429.43
8625.00
7815.00
9653.00
10519.00
11571.00
11466.00
11671.00
48.94%1.79%Retained Earnings
$-52.07
2.51
196.27
-354.36
-519.39
-37.13
761.83
890.00
-3864.00
-1998.00
801.00
2489.00
967.00
2705.00
179.73%AOCI
$
-0.07
-7.00
-8.00
-7.00
-8.00
-14.29%Shareholder's Equity
$462.07
845.54
1985.21
2108.97
4018.29
5581.74
14166.26
14906.00
9804.00
13245.00
15690.00
17430.00
16123.00
18019.00
39.10%11.76%Liabilities & Equity
$606.70
1521.61
3095.48
2758.41
5349.68
7770.98
21595.69
23531.00
17619.00
22898.00
26209.00
29001.00
27589.00
29690.00
42.13%7.62%Net Income/Loss
$-36.52
54.59
195.97
-547.79
-164.91
516.76
944.89
315.00
-4672.00
2276.00
4562.00
3336.00
746.00
809.00
8.45%Depreciation & Amortization
$0.49
1.02
2.13
2.60
2.72
3.94
11.61
9.00
Increase/Decrease in Working Capital
$-3.34
-6.19
15.27
2.21
137.11
-55.76
-15.79
167.00
-46.00
-36.00
307.00
-296.00
-122.00
66.00
154.10%Share-based Compensation
$3.48
1.75
9.82
18.53
26.45
25.54
26.76
48.00
37.00
51.00
55.00
54.00
11.00
14.00
28.30%27.27%Adjustments to Reconcile Net Income
$86.00
101.19
160.42
964.29
496.99
371.87
630.60
2424.00
6790.00
1677.00
1763.00
2584.00
679.00
525.00
36.25%-22.68%Net Cash (Operating)
$49.69
155.78
356.39
416.50
332.08
888.63
1564.51
2734.00
2118.00
3944.00
6325.00
5920.00
1425.00
1334.00
54.43%-6.39%Capital Expenditure
$176.44
907.52
1478.37
894.78
1188.21
3186.09
3403.34
3767.00
1975.00
1593.00
3178.00
3307.00
1273.00
750.00
30.53%-41.08%Net Cash (Investing)
$-183.08
-940.14
-1482.00
-895.05
-1310.24
-3132.28
-3503.04
-3888.00
-2101.00
-1539.00
-3330.00
-3323.00
-1279.00
-751.00
41.28%Increase/Decrease in Debt
$-85.05
460.00
213.50
-178.00
625.00
370.00
2472.00
851.00
410.00
-680.00
-257.00
377.00
707.00
-15.00
-102.12%Increase/Decrease in Equity
$233.83
309.31
921.97
649.58
2035.26
360.90
277.66
463.00
-109.00
-431.00
-1098.00
-840.00
-332.00
-42.00
87.35%Interest Expenses
$3.02
0.40
31.62
38.76
38.18
57.67
113.93
237.00
235.00
Dividends Paid
$
37.31
112.00
236.00
312.00
1572.00
1444.00
542.00
548.00
1.11%Net Cash (Financing)
$152.78
773.56
1140.24
468.48
2624.62
689.53
2040.61
1062.00
-37.00
-1841.00
-3503.00
-2176.00
-257.00
-269.00
-4.67%Cash Taxes Paid
$
0.27
0.19
0.69
Increase/Decrease in Cash
$19.40
-10.80
14.63
-10.07
1646.46
-1554.13
102.07
-92.00
-20.00
564.00
-508.00
421.00
-111.00
314.00
32.28%382.88%Cash (Beginning)
$6.96
26.36
15.55
30.18
20.11
1666.57
112.45
215.00
128.00
108.00
672.00
164.00
164.00
585.00
33.28%256.71%Cash (Ending)
$26.36
15.55
30.18
20.11
1666.57
112.45
214.52
123.00
108.00
672.00
164.00
585.00
53.00
899.00
32.55%1596.23%NOPAT
$-34.39
94.98
212.67
-939.21
-68.54
581.21
1010.16
604.77
-6522.66
3132.53
5175.99
3588.87
802.36
876.42
9.23%Gross Margin %
78.79%
90.28%
88.75%
80.41%
82.16%
87.57%
95.50%
95.48%
91.29%
95.57%
95.27%
91.29%
Operating Margin %
23.09%
45.77%
42.90%
-165.71%
-13.02%
50.20%
46.38%
17.53%
-194.67%
58.86%
67.49%
54.33%
53.25%
50.20%
NOPAT Margin %
-45.87%
45.66%
42.90%
-210.24%
-13.00%
48.23%
46.36%
15.26%
-231.88%
46.09%
53.68%
42.66%
41.68%
39.35%
Net Margin %
-48.72%
26.24%
39.09%
-123.26%
-31.31%
40.02%
38.81%
6.05%
-160.58%
32.10%
45.48%
37.36%
36.99%
34.49%
Tax Rate %
298.68%
0.22%
-26.87%
0.12%
3.94%
0.06%
12.98%
-19.11%
21.71%
20.47%
21.47%
21.72%
21.61%
ROA
-5.67%
6.24%
6.87%
-34.05%
-1.28%
7.48%
4.68%
2.57%
-37.02%
13.68%
19.75%
12.37%
2.91%
2.95%
ROE
-7.44%
11.23%
10.71%
-44.53%
-1.71%
10.41%
7.13%
4.06%
-66.53%
23.65%
32.99%
20.59%
4.98%
4.86%
ROIC
-6.39%
6.57%
7.65%
-35.83%
-1.99%
7.89%
4.93%
2.76%
-40.37%
14.68%
21.75%
13.25%
3.17%
3.24%
Asset Turnover
0.12
0.14
0.16
0.16
0.10
0.16
0.10
0.17
0.16
0.30
0.37
0.29
0.07
0.08
Inventory Turnover
-0.00
47.42
16.44
2.61
4.84
7.42
4.85
6.32
3.40
Equity Multiplier
1.31
1.80
1.56
1.31
1.33
1.39
1.52
1.58
1.80
1.73
1.67
1.66
1.71
1.65
Current Ratio
0.63
0.51
0.94
0.77
8.56
0.62
0.91
0.69
0.49
1.01
0.81
0.77
0.62
0.92
Quick Ratio
0.52
0.45
0.48
0.70
8.54
0.60
0.59
0.59
0.36
0.93
0.52
0.68
0.43
0.87
Debt/Equity Ratio
0.00
0.54
0.34
0.23
0.28
0.26
0.32
0.36
0.59
0.50
0.40
0.38
0.43
0.37
Interest Coverage Ratio
5.74
235.63
6.73
-19.10
-1.80
10.49
8.87
2.93
-23.30
Working Capital/Sales
-0.21
-0.00
-0.02
0.05
0.09
0.02
0.06
0.03
-0.02
0.11
0.00
0.05
-0.09
0.01
Dividend Payout Ratio %
3.69%
18.52%
3.62%
9.96%
30.37%
40.24%
67.55%
62.53%
Total Payout
$-145.76
-768.91
-1103.85
-432.82
-2622.08
-673.23
-2598.41
-965.00
170.00
1423.00
2927.00
1907.00
167.00
605.00
262.28%Payout Ratio %
-423.90%
-809.52%
-519.04%
-46.08%
-3825.79%
-115.83%
-257.23%
-159.57%
2.61%
45.43%
56.55%
53.14%
20.81%
69.03%