FANGDiamondback Energy

Energy · Oil & Gas Production · Nasdaq

Headquarters: Midland, TX
CEO: Hof Matthew Kaes Van't
Next results: around Jan 11, 2027

The biggest changes in the 10-K filed 2026-02-25, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.

Operating margin

39.7% → 8.4% (-31.3 pts) Big change FY to 2025-12-31 vs 2024-12-31

“Other operating income increased by $54 million in 2025 compared to 2024 primarily due to (i) a $35 million increase in midstream revenues attributable to assets acquired in the Endeavor Acquisition, and (ii) a $19 million increase in lease bonus income received during 2025.”
Read it in the 10-K ↗

“Other operating expenses decreased by $329 million in 2025 compared to 2024 primarily due to (i) a $198 million reduction in merger and transaction costs largely due to 2024 including $303 million in costs associated with the Endeavor Acquisition compared to $105 million of costs incurred in 2025 for transactions including the 2025 Drop Down, Viper’s Sitio Acquisition and additional severance and other costs for the Endeavor Acquisition, (ii) a $168 million gain on the sale of our EDS subsidiary during the fourth quarter of 2025, and (iii) other individually insignificant expenses.”
Read it in the 10-K ↗

Net income

-50.1% Big change FY to 2025-12-31 vs 2024-12-31

“Other income for the year ended December 31, 2025, increased by $354 million compared to the same period in 2024, primarily due to an increase of $363 million in the gain recognized on the sale of various equity method investments in 2025 compared to 2024.”
Read it in the 10-K ↗

Cash from operations

+36.6% Big change FY to 2025-12-31 vs 2024-12-31

“The increase in operating cash flows for the year ended December 31, 2025 compared to the same period in 2024 primarily resulted from (i) $3.4 billion in additional revenue, excluding sales of purchased oil, and (ii) an increase of $232 million of cash received on settlements of derivatives in 2025 compared to cash paid on settlements of derivatives in 2024, and a reduction of $114 million in cash paid for interest, net of capitalized amounts.”
Read it in the 10-K ↗

Revenue

+35.8% Big change FY to 2025-12-31 vs 2024-12-31

The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.

Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗

Work on FANG in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/FANG/export.csv") into a cell.