Diamondback Energy (FANG) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Diamondback Energy

NasdaqGS•Energy•Oil & Gas E&P

$196.94+2.40(0.01%)Pre-market

Market Cap

$54.27B

P/E

37.0x

P/S

3.2x

P/B

1.4x

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.

How this company scores

GoodMetricSide Score: 66/100

Strongest: Cash & Earnings Quality (25/25); weakest: Profitability (9/25).

Profitability9/25

Growth14/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowLow leverageCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 37.0x5y range 4.8x – 197.8x

Currently above its 20-quarter median.

P/S · 3.2x5y range 2.2x – 4.1x

Currently near its 20-quarter median.

P/B · 1.4x5y range 0.9x – 2.1x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 102.2% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Share Dilution

Red Flag

Shares outstanding increased 37.4% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $54.27B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $17.10B
Q. Revenue: $5.56B
TTM EBITDA: $6.32B
TTM Op. Income: $1.08B
Q. Op. Income: $2.51B
TTM Net Income: $1.47B
Q. Net Income: $1.88B
EPS: $6.65
Shares Out.: $281.20M

$17.10B in TTM revenue grew 21.4% YoY, reaching $5.56B last quarter. TTM EBITDA of $6.32B and TTM operating income of $1.08B show growth is flowing through to the bottom line. TTM net income of $1.47B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 68.0%
Op. Margin: 45.2%
Net Margin: 33.8%

Op. margin of 45.2% is up 14.2% YoY — cost efficiency is improving. Net margin at 33.8% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 37.0x
P/S Ratio: 3.2x
P/B Ratio: 1.4x

At 37.0x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 3.2x and P/B of 1.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 254% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $70.22B
Cash: $462.00M
Long-Term Debt: $11.07B
Book Value: $37.90B
D/E Ratio: 0.3
Debt/EBITDA: 2.9

With $70.22B in assets and $11.07B in long-term debt, D/E is 0.3and book value is $37.90B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $3.59B
TTM Free Cash Flow: $10.14B
FCF Margin: 59.3%
FCF / Net Income: 6.9

TTM FCF of $10.14B on $3.59B in operating cash flow. The FCF / Net Income ratio of 6.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 34% — an improving trend.