Diamondback Energy

FANG · Energy · Market cap $55.2B

Q3 FY25 Sep 30, 2025 reported Nov 5, 2025

Revenue$3.9B +48% year over year

Gross profit$2.6B

Operating profit$1.2B

Net profit$1B 26% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	3.9	100%	+48%
Oil Exploration and Production	3	77%	+39%
Oil Purchased	0.5	13%	+63%
Natural Gas Liquids Production	0.4	10%	+73%
Natural Gas Production	0.1	3%
Cost of revenue	−1.3	33%
Gross profit	2.6	66% margin	+9pp
SG&A	−0.1	2%	+0pp
Other	−1.3	33%	+0pp
Operating profit	1.2	31% margin	+5pp
Tax	−0.3
Net profit	1	26%	+1pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	3.7	100%	+48%
Oil Natural Gas and Natural Gas…	3.3	89%
Natural Gas Liquids Production	0.4	11%
Cost of revenue	−1.2	32%
Gross profit	2.5	67% margin	−1pp
SG&A	−0.1	2%	+0pp
Other	−1.2	34%	+0pp
Operating profit	1.1	31% margin	−16pp
Tax	−0.2
Interest & other costs	−0.2
Net profit	0.7	19%	−15pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	4	100%	+82%
Oil Natural Gas and Natural Gas…	3.7	92%
Natural Gas Liquids Production	0.4	10%	+121%
Cost of revenue	−1.2	30%
Gross profit	2.8	70% margin	−3pp
SG&A	−0.1	2%	+0pp
Other	−1.1	27%	+0pp
Operating profit	1.7	41% margin	−9pp
Tax	−0.4
Net profit	1.4	35%	+0pp

All figures in billions of U.S. dollars, for Q4 FY24 (period ends Dec 31, 2024).
Item	Value	Share of revenue	Year over year
Revenue	3.7	100%	+67%
Oil Exploration and Production	3	81%
Natural Gas Liquids Production	0.4	11%
Oil Purchased	0.2	5%
Natural Gas Production	0.1	3%	−22%
Cost of revenue	−1.1	30%
Gross profit	2.6	71% margin	−6pp
SG&A	−0.1	2%	+0pp
Other	−1.1	31%	+0pp
Operating profit	1.4	38% margin	−16pp
Tax	−0.1
Net profit	1.4	39%	−13pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q3 FY25	Sep 30, 2025	Nov 5, 2025	$3.9B	+48%	31%	$1B	26%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 6, 2025	$3.7B	+48%	30%	$0.7B	19%
Q1 FY25	Jan 1 – Mar 31, 2025	May 7, 2025	$4B	+82%	42%	$1.4B	35%
Q4 FY24	Oct 1 – Dec 31, 2024	Feb 26, 2025	$3.7B	+67%	38%	$1.4B	39%