NASDAQ$FANG

Diamondback Energy Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Diamondback Energy reported Q4 2025 revenue of $3.38B with a small GAAP net loss.

Total revenues were $3.38 billion in Q4. GAAP net loss attributable to Diamondback was $1.5 million despite $1.0 billion of free cash flow. Oil production averaged 512.8 MBO/d. The base dividend increased 5% to $4.20 annually; 2026 oil production guidance is 500–510 MBO/d.

  • Q4 revenue $3.38B; average oil production 512.8 MBO/d.
  • Free cash flow $1.0B; adjusted FCF $1.2B.
  • Repurchased 2.9M shares for ~$434M in Q4.
  • 2026 oil guide 500–510 MBO/d.

Headline financials

Total Revenue

$3.38B

Previous: $3.71B-9.0%
EPS (adj)

-$0.01

Previous: $3.64-100.3%
Avg daily oil (bbl/d)

512.8K

Previous: 475.9K+7.7%
Avg daily BOE (boe/d)

969.1K

Previous: 883.4K+9.7%
Operating cash flow

$2.34B

Previous: $2.34B+0.1%
OCF before WC changes

$1.95B

Previous: $2.26B-13.9%
Cash capital expenditures

$943M

Previous: $933M+1.1%
Adjusted EBITDA

$2.02B

Previous: $2.5B-19.3%
Adjusted free cash flow

$1.18B

Previous: $1.36B-12.8%
Total debt

$14.7B

No prior period
Net debt

$14.6B

No prior period
Total liquidity

$2.59B

No prior period
Capital Expenditures

-$943M

Previous: -$933M-1.1%
Free Cash Flow

$1.4B

No prior period
Net Income

-$1.77B

Previous: $1.07B-264.4%
Operating Income

-$2.78B

Previous: $1.41B-297.0%
Cash & Equivalents

$104M

No prior period
Total Assets

$71.1B

No prior period

Revenue & EPS history

Diamondback · Revenue · Quarterly

$3.38B

Q4 2025-9%vs Q4 2024
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

2026 oil production 500–510 MBO/d; cash capex $3.6B–$3.9B; Q1 oil production 502–512 MBO/d.

Tailwinds

  • Base dividend increased 5% to $4.20 annualized.
  • Strong free cash flow and aggressive share repurchases.
  • Debt reduction and Viper divestiture proceeds.

Headwinds

  • Commodity price volatility.
  • High capital intensity for maintenance and growth.
  • Regulatory and ESG pressures on oil producers.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+0.7%

Avg return

Earnings day

+1.1%

Avg return

5 days after

-0.0%

Avg return

30 days after

58%

33 / 57 earnings

Positive

+8.9%

Q3 2013

Best reaction

-14.6%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.9%-9.3%+1.1%
Q4 2025+0.5%+0.1%+16.3%
Q3 2025-1.3%+1.7%+12.9%
Q2 2025-2.2%-4.1%-3.9%
Q1 2025-0.7%+3.6%+3.3%
Q4 2024-2.1%+2.4%+3.2%
Q3 2024-0.1%+3.5%-2.7%
Q2 2024+0.3%+5.7%-2.5%
Q1 2024-4.8%-2.1%-4.1%
Q4 2023+0.2%-1.7%+8.3%
Q3 2023-2.0%-2.7%-9.6%
Q2 2023+1.5%+2.0%+3.9%
Q1 2023-5.0%-6.6%-10.6%
Q4 2022+1.9%+5.7%-6.0%
Q3 2022+1.4%+1.8%-15.4%
Q2 2022-0.4%-5.2%+4.1%
Q1 2022+7.8%+13.2%+21.1%
Q4 2021-1.5%+1.4%+8.9%
Q3 2021+6.8%+6.2%-3.9%
Q2 2021+4.4%+3.8%-3.9%
Q1 2021-3.1%+3.0%+5.8%
Q4 2020+8.3%+5.7%+13.5%
Q3 2020+8.3%-4.7%+56.1%
Q2 2020+3.0%+5.4%-8.9%
Q1 2020+0.1%+4.5%+18.1%
Q4 2019+5.8%+1.9%-75.1%
Q3 2019-14.6%-16.5%-11.5%
Q2 2019+1.4%+5.4%+6.8%
Q1 2019+5.1%+7.1%-3.1%
Q4 2018+0.9%-1.4%+0.4%
Q3 2018-0.1%-1.8%-12.2%
Q2 2018-2.7%-2.1%-16.4%
Q1 2018+4.8%-4.9%-12.4%
Q4 2017+5.9%+6.8%+7.4%
Q3 2017+0.6%+0.6%-4.3%
Q2 2017-0.0%-0.7%-5.3%
Q1 2017+1.3%+0.7%-5.0%
Q4 2016+7.2%+3.2%-0.8%
Q3 2016+2.2%+4.1%+14.9%
Q2 2016+1.6%+8.1%+10.8%
Q1 2016-3.9%
Q4 2015+1.9%
Q3 2015+3.6%
Q2 2015+3.7%
Q1 2015-5.5%
Q4 2014+0.5%
Q3 2014-3.5%
Q2 2014-3.8%
Q1 2014-2.0%
Q4 2013+2.7%
Q3 2013+8.9%
Q2 2012+0.0%
Q2 2013-2.0%
Q1 2012-3.2%
Q1 2013+2.7%
Q4 2012-4.4%
Q3 2012+2.5%
Q4 2011
Q3 2011
Q2 2011
Q1 2011
Q4 2010

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