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Arphra AIPlain-English read on Diamondback Energy, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $6.75B | $9.57B | $8.34B | $11.02B | $15.03B | $18.13B | $16.75B | $16.91B | $15.57B |
| Cost of revenue | $2.48B | $2.87B | $3.54B | $6.05B | $9.74B | $9.66B | $9.09B | $8.96B | $8.32B |
| Gross profit | $4.27B | $6.7B | $4.8B | $4.97B | $5.28B | $8.2B | $7.87B | $7.92B | $6.98B |
| Gross margin | +63.29% | +70.05% | +57.54% | +45.11% | +35.16% | +45.24% | +46.97% | +46.82% | +44.83% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $146M | $144M | $150M | $213M | $288M | $343.62M | $306.82M | $311.1M | $288.66M |
| Total operating expenses | $269M | $193M | $228M | $576M | $365M | $613.66M | $563.3M | $587.59M | $538.95M |
| Operating income | $4B | $6.51B | $4.57B | $4.4B | $4.92B | $7.55B | $7.18B | $7.24B | $6.45B |
| Operating margin | +59.30% | +68.03% | +54.80% | +39.88% | +32.73% | +41.62% | +42.85% | +42.82% | +41.40% |
| EBITDA | $4.37B | $7.23B | $6.17B | $7.64B | $7.16B | $11.27B | $10.85B | $10.6B | $10.05B |
| EBIT | $3.1B | $5.88B | $4.42B | $4.79B | $2.12B | $6.57B | $6.18B | $6.42B | $5.68B |
| Below the line | |||||||||
| Interest expense | $200M | $160M | $175M | $291M | $244M | $388.48M | $352.42M | $355.76M | $336.42M |
| Interest income | $1M | $1M | $0 | $156M | $0 | $86.78M | $79.75M | $80.92M | $74.18M |
| Other income / expense | -$1.09B | -$772M | -$322M | $105M | -$3.04B | — | — | — | — |
| Pre-tax income | $2.91B | $5.74B | $4.25B | $4.5B | $1.87B | $6.38B | $5.86B | $6.01B | $5.32B |
| Income tax expense | $631M | $1.17B | $912M | $800M | $327M | $1.21B | $1.09B | $1.13B | $1.01B |
| Earnings | |||||||||
| Net income | $2.18B | $4.39B | $3.14B | $3.34B | $1.66B | $4.84B | $4.51B | $4.55B | $4.14B |
| Net income · continuing ops | $2.28B | $4.56B | $3.34B | $3.7B | $1.55B | $5.07B | $4.7B | $4.66B | $4.47B |
| Net margin | +32.34% | +45.85% | +37.69% | +30.28% | +11.07% | +26.68% | +26.91% | +26.89% | +26.56% |
| EPS · basic | $12.35 | $24.61 | $17.34 | $15.53 | $5.73 | $20.07 | $17.10 | $17.42 | $16.56 |
| EPS · diluted | $12.30 | $24.61 | $17.34 | $15.53 | $5.73 | $19.98 | $17.24 | $17.31 | $16.53 |
| EPS · low estimate | — | — | — | — | — | $17.57 | $14.30 | $13.40 | $14.79 |
| EPS · high estimate | — | — | — | — | — | $21.97 | $20.91 | $25.67 | $18.99 |
| Shares · basic | 176.64M | 176.54M | 180M | 213.55M | 289.08M | 291.12M | 288.93M | 290.04M | 291.78M |
| Shares · diluted | 177.36M | 176.54M | 180M | 213.55M | 289.08M | 288.55M | 290.86M | 288.1M | 288.57M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 9 | 9 | 6 | 5 |
| Analysts (EPS) | — | — | — | — | — | 14 | 16 | 9 | 3 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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