Financials Diamondback Energy, Inc.

Equities

FANG

US25278X1090

Oil & Gas Exploration and Production

Market Closed - Nasdaq Other stock markets 04:00:00 2025-07-08 pm EDT			5-day change	1st Jan Change
143.76 ^USD	+4.23%		+2.54%	-12.25%

Jul. 07	Bernstein Adjusts Price Target on Diamondback Energy to $192 From $200, Maintains Outperform Rating	MT
Jul. 03	Tudor Pickering & Holt Adjusts Price Target on Diamondback Energy to $206 From $192	MT

Projected Income Statement: Diamondback Energy, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	2,813	6,797	9,643	8,412	11,066	14,028	13,683	14,372
Change	-	141.63%	41.87%	-12.77%	31.55%	26.77%	-2.46%	5.04%
EBITDA ¹	2,042	4,093	7,006	6,115	7,282	10,046	9,712	10,463
Change	-	100.44%	71.17%	-12.72%	19.08%	37.96%	-3.33%	7.74%
EBIT ¹	545	4,079	6,508	4,570	4,447	5,362	5,028	5,641
Change	-	648.44%	59.55%	-29.78%	-2.69%	20.57%	-6.23%	12.2%
Interest Paid ¹	-197	-199	-159	-175	-135	-163.7	-167.6	-144.8
Earnings before Tax (EBT) ¹	-5,776	2,907	5,736	4,248	4,501	5,371	4,766	5,588
Change	-	150.33%	97.32%	-25.94%	5.96%	19.34%	-11.26%	17.25%
Net income ¹	-4,517	2,182	4,386	3,143	3,338	3,948	3,421	4,235
Change	-	148.31%	101.01%	-28.34%	6.2%	18.27%	-13.35%	23.78%
Announcement Date	2/22/21	2/22/22	2/21/23	2/20/24	2/24/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	425	720	769	1,184	1,681	1,910	2,022	2,408	2,768	2,437	2,030	1,925	1,919	2,340	2,228	2,227	2,483	2,645	3,711	4,048	3,351	3,353	3,384	3,434	3,400	3,526	3,590	3,319
Change	-	69.41%	6.81%	53.97%	41.98%	13.62%	5.86%	19.09%	14.95%	-11.96%	-16.7%	-5.17%	-0.31%	21.94%	-4.79%	-0.04%	11.5%	6.52%	40.3%	9.08%	-17.22%	0.06%	0.94%	1.47%	-1.01%	3.73%	1.8%	-7.54%
EBITDA ¹	414	477	475	836	971	1,094	1,192	1,551	1,992	1,857	1,606	1,420	1,353	1,746	1,596	1,550	1,575	1,656	2,504	2,801	2,389	2,372	2,316	2,356	2,335	2,446	2,519	2,381
Change	-	15.22%	-0.42%	76%	16.15%	12.67%	8.96%	30.12%	28.43%	-6.78%	-13.52%	-11.58%	-4.72%	29.05%	-8.59%	-2.88%	1.61%	5.14%	51.21%	11.86%	-14.72%	-0.71%	-2.35%	1.72%	-0.87%	4.72%	3%	-5.46%
EBIT ¹	-133	195	276	574	957	1,164	1,312	1,660	1,978	1,614	1,256	1,081	1,000	1,340	1,205	1,173	1,119	761	1,393	1,550	1,197	1,163	1,201	1,265	1,227	1,335	1,404	1,318
Change	-	246.62%	41.54%	107.97%	66.72%	21.63%	12.71%	26.52%	19.16%	-18.4%	-22.18%	-13.93%	-7.49%	34%	-10.07%	-2.66%	-4.6%	-31.99%	83.05%	11.27%	-22.79%	-2.79%	3.21%	5.35%	-2.98%	8.77%	5.14%	-6.13%
Charge d'intérêts ¹	-46	-53	-50	-56	-57	-57	-29	-40	-39	-43	-37	-46	-51	-41	-37	-46	-44	-18	-34	-40	-42.1	-41.71	-40.44	-42.06	-41.69	-41.17	-40.68	-89.61
Earnings before Tax (EBT) ¹	-3,092	-1,409	-958	288	422	867	1,330	1,024	1,863	1,560	1,289	953	751	1,269	1,275	1,032	1,146	918	1,405	1,894	1,165	1,129	1,147	1,097	1,067	1,176	1,229	1,137
Change	-	54.43%	32.01%	130.06%	46.53%	105.45%	53.4%	-23.01%	81.93%	-16.26%	-17.37%	-26.07%	-21.2%	68.97%	0.47%	-19.06%	11.05%	-19.9%	53.05%	34.8%	-38.47%	-3.13%	1.62%	-4.41%	-2.73%	10.23%	4.57%	-7.53%
Net income ¹	-2,393	-1,113	-739	220	311	649	1,002	779	1,416	1,184	1,007	712	556	915	960	768	837	659	1,074	1,405	850.9	821	829.9	803.7	774.8	870.8	922.7	815.9
Change	-	53.49%	33.6%	129.77%	41.36%	108.68%	54.39%	-22.26%	81.77%	-16.38%	-14.95%	-29.29%	-21.91%	64.57%	4.92%	-20%	8.98%	-21.27%	62.97%	30.82%	-39.44%	-3.5%	1.07%	-3.15%	-3.6%	12.4%	5.96%	-11.58%
Announcement Date	8/3/20	11/2/20	2/22/21	5/3/21	8/2/21	11/1/21	2/22/22	5/2/22	8/1/22	11/7/22	2/21/23	5/1/23	7/31/23	11/6/23	2/20/24	4/30/24	8/5/24	11/4/24	2/24/25	5/5/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Diamondback Energy, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	5,711	6,102	6,262	6,208	12,999	13,446	11,025	8,935
Change	-	6.85%	2.62%	-0.86%	109.39%	3.44%	-18.01%	-18.96%
Announcement Date	2/22/21	2/22/22	2/21/23	2/20/24	2/24/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Diamondback Energy, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,859	1,487	1,938	2,701	2,867	3,699	3,735	3,837
Change	-	-20.01%	30.33%	39.37%	6.15%	29.01%	0.98%	2.72%
Free Cash Flow (FCF) ¹	162	2,421	4,724	2,987	4,007	5,110	4,762	5,357
Change	-	1,394.44%	95.13%	-36.77%	34.15%	27.53%	-6.81%	12.51%
Announcement Date	2/22/21	2/22/22	2/21/23	2/20/24	2/24/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Diamondback Energy, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	72.59%	60.22%	72.65%	72.69%	65.81%	71.61%	70.98%	72.8%
EBIT Margin (%)	19.37%	60.01%	67.49%	54.33%	40.19%	38.22%	36.74%	39.25%
EBT Margin (%)	-205.33%	42.77%	59.48%	50.5%	40.67%	38.29%	34.83%	38.88%
Net margin (%)	-160.58%	32.1%	45.48%	37.36%	30.16%	28.14%	25%	29.46%
FCF margin (%)	5.76%	35.62%	48.99%	35.51%	36.21%	36.43%	34.8%	37.28%
FCF / Net Income (%)	-3.59%	110.95%	107.71%	95.04%	120.04%	129.43%	139.19%	126.52%
Profitability
ROA	2.34%	9.92%	17.44%	11.39%	6.93%	5.8%	4.15%	4.25%
ROE	4.36%	19.24%	31.61%	20.64%	12.28%	9.43%	8.24%	9.11%
Financial Health
Leverage (Debt/EBITDA)	2.8x	1.49x	0.89x	1.02x	1.79x	1.34x	1.14x	0.85x
Debt / Free cash flow	35.25x	2.52x	1.33x	2.08x	3.24x	2.63x	2.32x	1.67x
Capital Intensity
CAPEX / Current Assets (%)	66.09%	21.88%	20.1%	32.11%	25.91%	26.37%	27.3%	26.69%
CAPEX / EBITDA (%)	91.04%	36.33%	27.66%	44.17%	39.37%	36.82%	38.46%	36.67%
CAPEX / FCF (%)	1,147.53%	61.42%	41.02%	90.43%	71.55%	72.38%	78.44%	71.61%
Items per share
Cash flow per share ¹	12.79	22.03	36.96	31.24	30.48	30.61	30.83	34
Change	-	72.24%	67.72%	-15.45%	-2.44%	0.43%	0.73%	10.25%
Dividend per Share ¹	1.525	1.95	11.31	7.22	4	4.144	4.554	4.51
Change	-	27.87%	480%	-36.16%	-44.6%	3.6%	9.88%	-0.95%
Book Value Per Share ¹	55.63	67.91	84.53	93.02	129.7	142.4	149.1	158.9
Change	-	22.08%	24.48%	10.04%	39.41%	9.84%	4.65%	6.62%
EPS ¹	-28.59	12.3	24.61	17.34	15.53	13.46	11.82	14.93
Change	-	143.02%	100.08%	-29.54%	-10.44%	-13.33%	-12.17%	26.33%
Nbr of stocks (in thousands)	157,974	181,175	175,999	178,985	291,989	292,168	292,168	292,168
Announcement Date	2/22/21	2/22/22	2/21/23	2/20/24	2/24/25	-	-	-