Diamondback Energy, Inc. (FANG) Financial Statements (2025 and earlier)

Company Profile

Business Address 500 WEST TEXAS
MIDLAND, TX 79701
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments582157654104123215
Cash and cash equivalent582157654104123215
Restricted cash and investments371845 
Receivables8471,006671437615392
Inventory, net of allowances, customer advances and progress billings636762333738
Inventory636762333738
Prepaid expense     20 
Derivative instruments and hedges, assets1713213146231
Other current assets      281
Other undisclosed current assets10923282323(231)
Total current assets:1,6211,3921,446602869925
Noncurrent Assets
Operating lease, right-of-use asset     15✕
Property, plant and equipment26,67423,75920,61916,21421,83520,372
Oil and gas, full cost method, property and equipment, after accumulated depletion (8,333)(6,671)(5,434)(4,237)(2,995)(1,599)
Long-term investments and receivables529566613533479 
Long-term investments529566613533479 
Intangible assets, net (including goodwill)     88
Intangible assets, net (excluding goodwill)     88
Derivative instruments and hedges1234 7 
Deferred income tax assets45644073142✕
Other noncurrent assets474276459086
Other undisclosed noncurrent assets8,4177,0345,5344,3893,0811,804
Total noncurrent assets:27,38024,81721,45217,01722,66220,671
TOTAL ASSETS:29,00126,20922,89817,61923,53121,596
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities765560472373483381
Accounts payable2611273671179128
Accrued liabilities504433436302304253
Deferred revenue764619452237278✕
Debt 10451918 
Derivative instruments and hedges, liabilities     27 
Asset retirement obligation61151  
Other liabilities      892
Other undisclosed current liabilities573516464434467(253)
Total current liabilities:2,1081,7161,4381,2361,2631,020
Noncurrent Liabilities
Long-term debt and lease obligation6,6416,2386,6425,6245,3714,464
Long-term debt, excluding current maturities6,6416,2386,6425,6245,3714,464
Liabilities, other than long-term debt, including:2,8222,5651,5739551110
Asset retirement obligations23933616610894136
Deferred tax liabilities, net✕✕✕✕✕✕1,785
Deferred income tax liabilities2,4492,0691,338783 ✕
Other liabilities1212407  
Derivative instruments and hedges, liabilities1221482957 15
Other undisclosed liabilities, other than long-term debt     (83)(1,926)
Other undisclosed noncurrent liabilities     1,9801,936
Total noncurrent liabilities:9,4638,8038,2156,5797,3626,410
Total liabilities:11,57110,5199,6537,8158,6257,429
Equity
Equity, attributable to parent, including:16,62515,00912,0888,79413,24913,699
Additional paid in capital14,14214,21314,08412,65612,35712,936
Accumulated other comprehensive loss(8)(7)   (0)
Retained earnings (accumulated deficit)2,489801(1,998)(3,864)890762
Other undisclosed equity, attributable to parent222222
Equity, attributable to noncontrolling interest8056811,1571,0101,657467
Total equity:17,43015,69013,2459,80414,90614,166
TOTAL LIABILITIES AND EQUITY:29,00126,20922,89817,61923,53121,596

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues8,4129,6436,7972,8133,9642,176
Loss on disposition of assets for financial service operations  (850)(1,225)  (120)
Cost of revenue(3,536)(2,865)(2,635)(2,169)(2,365)(1,092)
Gross profit:4,8766,7784,1626441,5991,084
Operating expenses(306)(270)(161)(6,120)(904)(73)
Operating income (loss):4,5706,5084,001(5,476)6951,011
Nonoperating income (expense)(322)(772)(1,094)(300)(333)102
Investment income, nonoperating (259)(586)(825)(90)(103)101
Other nonoperating income (expense) (195)(613) 2(2)89
Interest and debt expense(175)(159)(199)(197)(173)(88)
Income (loss) from continuing operations before equity method investments, income taxes:4,0735,5772,708(5,973)1891,025
Other undisclosed income (loss) from continuing operations before income taxes17515919919717388
Income (loss) from continuing operations before income taxes:4,2485,7362,907(5,776)3621,113
Income tax expense (benefit)(912)(1,174)(631)1,104(47)(168)
Income (loss) from continuing operations:3,3364,5622,276(4,672)315945
Income (loss) before gain (loss) on sale of properties:✕✕✕2,276(4,672)315945
Net income (loss):3,3364,5622,276(4,672)315945
Net income (loss) attributable to noncontrolling interest(193)(176)(94)155(75)(99)
Net income (loss) attributable to parent:3,1434,3862,182(4,517)240846
Other undisclosed net loss available to common stockholders, basic(22)(42)    
Net income (loss) available to common stockholders, diluted:3,1214,3442,182(4,517)240846

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):3,3364,5622,276(4,672)315945
Other comprehensive income (loss)(1)(7)   (0)
Comprehensive income (loss):3,3354,5552,276(4,672)315945
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(193)(176)(94)155(75)(99)
Other undisclosed comprehensive income, net of tax, attributable to parent      99
Comprehensive income (loss), net of tax, attributable to parent:3,1424,3792,182(4,517)240945

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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