NASDAQ · Energy

Diamondback Energy, Inc.

FANG · Oil & Gas E&P

$213.69

▲ 6.04 (2.91%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Diamondback Energy, Inc. at $213.69.

The business passes only 3 of 7 of Graham's defensive criteria — well below his required standard.

Overall Grade

Defensive

Enterprising

Profitability B

Gross Profit Margin 35.0%

Operating Margin 32.9%

Net Income Margin 11.1%

Fin. Health F

Years to Pay Off Debt 8.9 yrs

Working Capital vs Long-Term Debt -$16.4B

Working Capital -$2.7B

Valuation F

Margin of Safety 0.0%

Price-to-Book 1.63x

Cash Flow F

Free Cash Flow -$703M

CapEx % of Net Income 568.6%

Owner Earnings $16.2B

3/7

Graham Score

Speculative

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $60.1B

Enterprise Value $79.0B

P/E (TTM) 37.29

Dividend Yield 1.95%

Exchange NASDAQ

Key Margins

Gross Profit 35.0%

Operating Margin 32.9%

Net Margin 11.1%

Company Info

Sector Energy

Industry Oil & Gas E&P

Employees 1762

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Diamondback Energy, Inc. at $213.69.

The business passes only 3 of 7 of Graham's defensive criteria — well below his required standard.

At $213.69, the stock trades at a 64% premium to its Graham Number of $130.17. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

About Diamondback Energy, Inc.

Diamondback Energy, Inc., an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas, the United States. The company primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland Basin; and the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are part of the Permian Basin in West Texas and New Mexico. Diamondback Energy, Inc. was founded in 2007 and is headquartered in Midland, Texas.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022	2021
Gross Profit %	35.0% ▼	45.3%	57.5%	70.1%	N/A
Operating Margin %	32.9% ▼	39.9%	54.8%	68.2%	N/A
Net Income %	11.1% ▼	30.3%	37.7%	45.8%	N/A
Diluted EPS	5.73 ▼	15.53	17.34	24.61	N/A

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$71.1B	$67.3B	$29.0B	$26.2B	N/A
Total Debt	$14.9B ↑	$13.3B	$6.8B	$6.4B	N/A
Working Capital	-$2.7B ▲	-$2.7B	-$487M	-$324M	N/A
Years to Pay Debt	8.94	3.99	2.16	1.45	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	-$703M ▲	-$5.4B	$1.2B	$2.7B	N/A
Owner Earnings	$16.2B	$18.0B	$9.6B	$9.3B	N/A
CapEx % of Net Income	568.6%	353.1%	150.0%	82.4%	N/A

Income Statement

	2025	2024	2023	2022	2021
Tax Effect Of Unusual Items	-566,370	24,742	-56,545	-127,510
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	10,432,000	7,500,000	6,432,000	7,850,000
Total Unusual Items	-3,255,000	139,000	-263,000	-622,000
Total Unusual Items Excluding Goodwill	-3,255,000	139,000	-263,000	-622,000
Net Income From Continuing Operation Net Minority Interest	1,664,000	3,338,000	3,143,000	4,386,000
Reconciled Depreciation	5,038,000	2,850,000	1,746,000	1,344,000
Reconciled Cost Of Revenue	9,708,000	6,029,000	3,541,000	2,865,000
EBITDA	7,177,000	7,639,000	6,169,000	7,228,000
EBIT	2,139,000	4,789,000	4,423,000	5,884,000
Net Interest Income	-244,000	-135,000	-159,000	-154,000
Interest Expense	265,000	288,000	175,000	148,000
Interest Income	25,000	156,000	18,000	6,000
Normalized Income	4,352,630	3,223,742	3,349,455	4,880,490
Net Income From Continuing And Discontinued Operation	1,664,000	3,338,000	3,143,000	4,386,000
Total Expenses	10,011,000	6,627,000	3,769,000	3,044,000
Total Operating Income As Reported	1,266,000	4,396,000	4,570,000	6,508,000
Diluted Average Shares	289,079	213,545	179,999	176,539
Basic Average Shares	289,079	213,545	179,999	176,539
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	1,664,000	3,338,000	3,143,000	4,386,000
Net Income Common Stockholders	1,664,000	3,338,000	3,143,000	4,386,000
Net Income	1,664,000	3,338,000	3,143,000	4,386,000
Minority Interests	117,000	-363,000	-193,000	-176,000
Net Income Including Noncontrolling Interests	1,547,000	3,701,000	3,336,000	4,562,000
Net Income Continuous Operations	1,547,000	3,701,000	3,336,000	4,562,000
Tax Provision	327,000	800,000	912,000	1,174,000
Pretax Income	1,874,000	4,501,000	4,248,000	5,736,000
Other Income Expense	-2,800,000	240,000	-163,000	-632,000
Other Non Operating Income Expenses	455,000	101,000	100,000	-10,000
Special Income Charges	-3,596,000	2,000	-4,000	-113,000
Gain On Sale Of Business				0	23,000
Other Special Charges	-56,000	-2,000	4,000	99,000
Impairment Of Capital Assets	3,652,000	0	0	0
Restructuring And Mergern Acquisition		303,000	11,000	14,000	78,000
Earnings From Equity Interest					38,000
Gain On Sale Of Security	341,000	137,000	-259,000	-509,000
Net Non Operating Interest Income Expense	-244,000	-135,000	-159,000	-154,000
Total Other Finance Cost	4,000	3,000	2,000	12,000
Interest Expense Non Operating	265,000	288,000	175,000	148,000
Interest Income Non Operating	25,000	156,000	18,000	6,000
Operating Income	4,918,000	4,396,000	4,570,000	6,522,000
Operating Expense	303,000	598,000	228,000	179,000
Other Operating Expenses	15,000	385,000	78,000	35,000
Selling General And Administration	288,000	213,000	150,000	144,000
General And Administrative Expense	288,000	213,000	150,000	144,000
Other Gand A	207,000	148,000	150,000	144,000
Salaries And Wages	81,000	65,000	54,000	55,000
Gross Profit	5,221,000	4,994,000	4,798,000	6,701,000
Cost Of Revenue	9,708,000	6,029,000	3,541,000	2,865,000
Total Revenue	14,929,000	11,023,000	8,339,000	9,566,000
Operating Revenue	14,929,000	11,023,000	8,339,000	9,566,000

Balance Sheet

	2025	2024	2023	2022	2021
Ordinary Shares Number	284,595	290,984	178,724	179,841
Share Issued	284,595	290,984	178,724	179,841
Net Debt	14,385,000	12,814,000	6,059,000	6,091,000
Total Debt	14,879,000	13,329,000	6,801,000	6,379,000
Tangible Book Value	36,972,000	37,736,000	16,625,000	15,009,000
Invested Capital	51,461,000	50,711,000	23,266,000	21,257,000
Working Capital	-2,685,000	-2,701,000	-487,000	-324,000
Net Tangible Assets	36,972,000	37,736,000	16,625,000	15,009,000
Capital Lease Obligations	390,000	354,000	160,000	131,000
Common Stock Equity	36,972,000	37,736,000	16,625,000	15,009,000
Total Capitalization	50,698,000	49,811,000	23,266,000	21,247,000
Total Equity Gross Minority Interest	42,967,000	39,862,000	17,430,000	15,690,000
Minority Interest	5,995,000	2,126,000	805,000	681,000
Stockholders Equity	36,972,000	37,736,000	16,625,000	15,009,000
Gains Losses Not Affecting Retained Earnings	-7,000	-6,000	-8,000	-7,000
Other Equity Adjustments	-7,000	-6,000	-8,000	-7,000
Retained Earnings	4,740,000	4,238,000	2,489,000	801,000
Additional Paid In Capital	32,236,000	33,501,000	14,142,000	14,213,000
Capital Stock	3,000	3,000	2,000	2,000
Common Stock	3,000	3,000	2,000	2,000
Total Liabilities Net Minority Interest	28,092,000	27,430,000	11,571,000	10,519,000
Total Non Current Liabilities Net Minority Interest	23,492,000	22,619,000	9,463,000	8,803,000
Other Non Current Liabilities	625,000	718,000	12,000	12,000
Derivative Product Liabilities		106,000	122,000	148,000	29,000
Non Current Deferred Liabilities	9,141,000	9,826,000	2,449,000	2,069,000
Non Current Deferred Taxes Liabilities	9,141,000	9,826,000	2,449,000	2,069,000
Long Term Debt And Capital Lease Obligation	13,726,000	12,075,000	6,641,000	6,238,000
Long Term Debt	13,726,000	12,075,000	6,641,000	6,238,000
Long Term Provisions		573,000	239,000	336,000	166,000
Current Liabilities	4,600,000	4,811,000	2,108,000	1,716,000
Other Current Liabilities	15,000	43,000	86,000	47,000
Current Debt And Capital Lease Obligation	1,153,000	1,254,000	160,000	141,000
Current Capital Lease Obligation	390,000	354,000	160,000	131,000
Current Debt	763,000	900,000		10,000	45,000
Other Current Borrowings	763,000	900,000		10,000	45,000
Pensionand Other Post Retirement Benefit Plans Current	96,000	79,000	38,000	35,000
Payables And Accrued Expenses	3,336,000	3,435,000	1,824,000	1,493,000
Current Accrued Expenses	366,000	329,000	620,000	569,000
Interest Payable	187,000	145,000	73,000	49,000
Payables	2,970,000	3,106,000	1,204,000	924,000
Other Payable	1,413,000	1,507,000	785,000	655,000
Total Tax Payable	389,000	656,000	158,000	142,000
Income Tax Payable	149,000	414,000	29,000	34,000
Accounts Payable	1,168,000	943,000	261,000	127,000
Total Assets	71,059,000	67,292,000	29,001,000	26,209,000
Total Non Current Assets	69,144,000	65,182,000	27,380,000	24,817,000
Other Non Current Assets	523,000	710,000	131,000	319,000
Non Current Deferred Assets		173,000	45,000	64,000	40,000
Non Current Deferred Taxes Assets		173,000	45,000	64,000	40,000
Financial Assets		2,000	1,000	23,000	4,000
Investments And Advances		375,000	529,000	566,000	613,000
Long Term Equity Investment		375,000	529,000	566,000	613,000
Investment Properties			84,000	86,000	88,000
Net PPE	68,621,000	64,472,000	26,674,000	23,759,000
Accumulated Depreciation	-27,782,000	-19,208,000	-16,429,000	-14,844,000
Gross PPE	96,403,000	83,680,000	43,103,000	38,603,000
Current Assets	1,915,000	2,110,000	1,621,000	1,392,000
Other Current Assets	7,000	3,000	110,000	23,000
Hedging Assets Current	234,000	168,000	17,000	132,000
Restricted Cash	2,000	3,000	3,000	7,000
Prepaid Assets	96,000	74,000			28,000
Inventory	86,000	116,000	63,000	67,000
Receivables	1,386,000	1,585,000	846,000	1,006,000
Taxes Receivable			1,000	284,000	1,000
Accounts Receivable	1,386,000	1,585,000	846,000	722,000
Cash Cash Equivalents And Short Term Investments	104,000	161,000	582,000	157,000
Cash And Cash Equivalents	104,000	161,000	582,000	157,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	-703,000	-5,374,000	1,206,000	2,712,000
Repurchase Of Capital Stock	-2,010,000	-959,000	-840,000	-1,251,000
Repayment Of Debt	-13,467,000	-3,502,000	-4,802,000	-7,961,000
Issuance Of Debt	15,042,000	9,875,000	5,179,000	7,704,000
Issuance Of Capital Stock	1,232,000	476,000	0	0
Capital Expenditure	-9,461,000	-11,787,000	-4,714,000	-3,613,000
Interest Paid Supplemental Data	155,000	269,000	146,000	135,000
Income Tax Paid Supplemental Data	1,234,000	605,000	352,000	718,000
End Cash Position	106,000	164,000	585,000	164,000
Beginning Cash Position	164,000	585,000	164,000	672,000
Changes In Cash	-58,000	-421,000	421,000	-508,000
Financing Cash Flow	-1,007,000	4,387,000	-2,176,000	-3,503,000
Cash Flow From Continuing Financing Activities	-1,007,000	4,387,000	-2,176,000	-3,503,000
Net Other Financing Charges	-648,000	75,000	-269,000	-423,000
Cash Dividends Paid	-1,156,000	-1,578,000	-1,444,000	-1,572,000
Common Stock Dividend Paid	-1,156,000	-1,578,000	-1,444,000	-1,572,000
Net Common Stock Issuance	-778,000	-483,000	-840,000	-1,251,000
Common Stock Payments	-2,010,000	-959,000	-840,000	-1,251,000
Common Stock Issuance	1,232,000	476,000	0	0
Net Issuance Payments Of Debt	1,575,000	6,373,000	377,000	-257,000
Net Short Term Debt Issuance			111,000	-347,000	313,000
Short Term Debt Payments			-4,668,000	-5,551,000	-1,000,000
Short Term Debt Issuance			4,779,000	5,204,000	1,313,000
Net Long Term Debt Issuance	1,575,000	6,373,000	377,000	-257,000
Long Term Debt Payments	-13,467,000	-3,502,000	-4,802,000	-7,961,000
Long Term Debt Issuance	15,042,000	9,875,000	5,179,000	7,704,000
Investing Cash Flow	-7,809,000	-11,221,000	-3,323,000	-3,330,000
Cash Flow From Continuing Investing Activities	-7,809,000	-11,221,000	-3,323,000	-3,330,000
Net Other Investing Changes	1,652,000	566,000	1,391,000	283,000
Dividends Received Cfi					9,000
Net Business Purchase And Sale					-114,000
Purchase Of Business					-114,000
Net PPE Purchase And Sale	-9,461,000	-11,787,000	-4,714,000	-3,613,000
Purchase Of PPE	-9,461,000	-11,787,000	-4,714,000	-3,613,000
Operating Cash Flow	8,758,000	6,413,000	5,920,000	6,325,000
Cash Flow From Continuing Operating Activities	8,758,000	6,413,000	5,920,000	6,325,000
Change In Working Capital	-314,000	-96,000	296,000	-199,000
Change In Other Working Capital	27,000	67,000	192,000	-16,000
Change In Payables And Accrued Expense	-727,000	-121,000	175,000	126,000
Change In Payable	-727,000	-121,000	175,000	126,000
Change In Account Payable	-343,000	-376,000	57,000	-47,000
Change In Tax Payable	-399,000	87,000	-5,000	17,000
Change In Income Tax Payable	-399,000	87,000	-5,000	17,000
Change In Prepaid Assets		54,000	-89,000	21,000	20,000
Change In Receivables	386,000	-42,000	-71,000	-330,000
Changes In Account Receivables	386,000	-42,000	-71,000	-47,000
Other Non Cash Items	-430,000	133,000	11,000	85,000
Stock Based Compensation		65,000	54,000	55,000	51,000
Asset Impairment Charge	3,652,000	0	0	0
Deferred Tax	-519,000	15,000	378,000	720,000
Deferred Income Tax	-519,000	15,000	378,000	720,000
Depreciation Amortization Depletion	5,038,000	2,850,000	1,746,000	1,344,000
Depreciation And Amortization	5,038,000	2,850,000	1,746,000	1,344,000
Depreciation	5,038,000	2,850,000	1,746,000	1,344,000
Operating Gains Losses	-216,000	-190,000	153,000	-242,000
Earnings Losses From Equity Investments		-21,000	-48,000	-77,000	-15,000
Gain Loss On Investment Securities	-160,000	-188,000	149,000	-264,000
Net Income From Continuing Operations	1,547,000	3,701,000	3,336,000	4,562,000

These metrics estimate what Diamondback Energy, Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$130.17

Margin of Safety

Market Cap ÷ Company Value

1.18

P/B Ratio

1.63

Warren's Owner Earnings

$16.2B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

3/7 — Speculative Investor

✅ Adequate Size

$14.9B

vs > $1.5B revenue

❌ Strong Financial Condition

0.42x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

1.95%

vs Uninterrupted dividends

❌ Earnings Growth

-76.7% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

37.3x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

1.63x P/B (P/E×P/B: 60.6)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-93.05

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$194.25

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	568.6%	353.1%	150.0%	82.4%	N/A
Repurchase of Capital Stock	-$2.0B	-$959M	-$840M	-$1.3B	N/A
Free Cash Flow	-$703M ▲	-$5.4B ▼	$1.2B ▼	$2.7B •	N/A •
Warren's Owner Earnings	$16.2B	$18.0B	$9.6B	$9.3B	N/A

Peers & Industry

No auto-detected peers for Oil & Gas E&P. You can manually compare FANG against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

30.65%

High — management has strong skin in the game

Return on Equity (ROE)

4.5%

Weak — poor returns on equity

Return on Assets (ROA)

2.3%

Fair — average asset utilization

Share Buybacks (Latest Year)

$2.0B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+11.6% YoY

Debt is growing — management is leveraging up

Leadership Team

Travis Stice

Executive Chairman of the Board

Age 63

Pay: $3,901,992

0.234% of net income

Matthew Kaes Van't Hof

CEO & Director

Age 38

Pay: $3,829,961

0.230% of net income

Jere Thompson III

Executive VP & CFO

Age 36

Pay: $1,382,728

0.083% of net income

Daniel Wesson

Executive VP & COO

Age 40

Pay: $1,862,778

0.112% of net income

David Cannon

Senior Vice President of Geoscience & Technology

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	8.18%	23,010,298
Blackrock Inc.	6.38%	17,936,364
State Street Corporation	3.81%	10,704,084
Geode Capital Management, LLC	2.00%	5,621,120
Boston Partners	1.98%	5,576,501
Bank Of New York Mellon Corporation	1.83%	5,159,365
FMR, LLC	1.76%	4,952,402
JPMORGAN CHASE & CO	1.75%	4,933,541

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.44

Low volatility — more stable than the market

Short Interest

4.3% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.34x

Conservative balance sheet — low financial risk

Current Ratio