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Diamondback Energy (FANG): financials, SEC filings and peers

Diamondback Energy (FANG) is an oil & gas exploration & production company in the Energy sector of the S&P 500, headquartered in Midland, Texas.

It was founded in 2007 and joined the S&P 500 on December 3, 2018.

Its fiscal year ends in December, and its shares trade on the Nasdaq.

In its SEC filings it is classified as “Crude Petroleum & Natural Gas”.

Diamondback Energy at a glance

Revenue (12 months)
$18.6B
Revenue growth
+21.1%
Operating margin
12.6%
Net income (12 months)
$2.1B
Free cash flow (12 months)
—
Cash
$558M
Debt
$11.7B
Diluted EPS (12 months)
$7.44

Twelve months to September 30, 2026, from the 10-Q filed November 4, 2026.

Latest twelve months

Over the twelve months to September 30, 2026, Diamondback Energy reported revenue of $18.6 billion, up 21.1% from a year earlier.

Its operating margin was 12.6%, down 22.9 percentage points from a year earlier: for every $100 of sales, about $13 was left as operating profit.

Net income was $2.1 billion (11.0% of revenue), 51.1% lower than a year earlier.

Profit fell while sales grew, which usually points to higher costs, heavier investment or one-time items. The filings explain which.

At the end of the period it held $558 million in cash and $11.7 billion in debt, a net debt position of $11.1 billion.

The diluted share count fell 3.1% in a year, typically the result of buybacks.

Five-year trend

  • Revenue went from $2.8 billion in fiscal 2020 to $15.0 billion in fiscal 2025, about 39.8% a year.
  • Operating margin widened from -194.7% to 8.4% over the same years.
  • Diamondback Energy reported a net loss in 1 of the last 6 fiscal years.
Fiscal year20212022202320242025
Revenue$6.8B$9.6B$8.4B$11.1B$15.0B
Revenue growth141.6%41.9%-12.8%31.6%35.8%
Operating margin58.9%67.5%54.3%39.7%8.4%
Net income$2.2B$4.4B$3.1B$3.3B$1.7B
Free cash flow—————
Diluted EPS$12.24$24.61$17.34$15.53$5.73

Fiscal years as reported in Diamondback Energy’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

  • 10-Q filed November 4, 2026 — quarterly report
  • 8-K filed November 2, 2026 — Earnings results
  • 8-K filed October 8, 2026 — Earnings results
  • 8-K filed September 30, 2026 — Material agreement; Executive or director change
  • 10-Q filed August 5, 2026 — quarterly report
  • 8-K filed August 3, 2026 — Earnings results
  • 8-K filed July 13, 2026 — Earnings results
  • 8-K filed June 15, 2026 — Material agreement; New debt obligation

All Diamondback Energy filings on SEC EDGAR

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Questions about Diamondback Energy

Is Diamondback Energy's revenue growing?

Yes. Revenue for the twelve months to September 30, 2026 was $18.6 billion, up 21.1% from a year earlier, according to its SEC filings.

Is Diamondback Energy profitable?

Yes. It earned $2.1 billion in net income over the twelve months to September 30, 2026, a net margin of 11.0%.

Does Diamondback Energy have more cash or more debt?

At September 30, 2026 it had $558 million in cash and $11.7 billion in debt, so more debt than cash.

When did Diamondback Energy last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on November 4, 2026.

Which companies are similar to Diamondback Energy?

In the S&P 500, Diamondback Energy is grouped in Oil & Gas Exploration & Production within the Energy sector. APA Corporation (APA), ConocoPhillips (COP), Devon Energy (DVN), EOG Resources (EOG), EQT Corporation (EQT) are in the same group.

Understand the numbers

Source: Diamondback Energy’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.