NASDAQ : VNOM
Viper Energy, Inc. — Financial statements
Energy · Oil & Gas Midstream · United States
Last price 47.68 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 17.13B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Viper Energy, Inc. (VNOM) reported revenue of 1.93B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.93B | 1.32B | 817.00M | 827.00M | 865.77M | 504.30M |
| Cost of Revenue | 50.00M | 56.37M | 32.56M | |||
| Gross Profit | 1.93B | 1.32B | 817.00M | 777.00M | 809.39M | 471.74M |
| Selling, General & Admin | 46.00M | 35.00M | 19.00M | 11.00M | 8.54M | 7.80M |
| Other Operating Expenses | -7.00M | 11.00M | 6.00M | 26.00M | 17.44M | 68.79M |
| Operating Expenses | 856.00M | 653.00M | 239.00M | 183.00M | 147.05M | 179.58M |
| Operating Income | 1.08B | 672.00M | 578.00M | 594.00M | 662.34M | 292.16M |
| Interest Expense | -126.00M | -103.00M | -74.00M | -48.00M | -37.54M | -31.38M |
| Interest & Investment Income | 10.00M | 10.00M | 2.00M | 2.00M | 428.00K | 2.00K |
| Other Non Operating Income (Expenses) | -6.00M | -4.00M | -2.00M | -1.00M | -2.88M | -2.58M |
| EBT Excluding Unusual Items | 956.00M | 575.00M | 504.00M | 547.00M | 622.35M | 258.20M |
| Asset Writedown | -768.00M | -768.00M | ||||
| Other Unusual Items | -32.00M | -32.00M | ||||
| Pretax Income | 156.00M | -225.00M | 504.00M | 547.00M | 622.35M | 258.20M |
| Income Tax Expense | 53.00M | -19.00M | -100.00M | 46.00M | -32.65M | 1.52M |
| Earnings From Continuing Operations | 103.00M | -206.00M | 604.00M | 501.00M | 655.00M | 256.68M |
| Minority Interest in Earnings | -44.00M | 138.00M | -245.00M | -301.00M | -503.33M | -198.74M |
| Net Income | 59.00M | -68.00M | 359.00M | 200.00M | 151.67M | 57.94M |
| Preferred Dividends & Other Adjustments | 1.00M | 1.00M | 193.00K | |||
| Net Income to Common | 58.00M | -69.00M | 359.00M | 200.00M | 151.67M | 57.75M |
| Shares Outstanding (Basic) | 173.28M | 142.53M | 93.93M | 74.18M | 75.61M | 68.32M |
| Shares Outstanding (Diluted) | 173.28M | 142.53M | 93.93M | 74.18M | 75.68M | 68.39M |
| EPS (Basic) | 0.33 | -0.48 | 3.82 | 2.70 | 2.01 | 0.85 |
| EPS (Diluted) | 0.33 | -0.48 | 3.82 | 2.69 | 2.00 | 0.85 |
| Free Cash Flow | 198.00M | -1.37B | -76.00M | -270.00M | 635.66M | 25.94M |
| Free Cash Flow Per Share | 1.14 | -9.62 | -0.81 | -3.64 | 8.40 | 0.38 |
| Dividend Per Share | 2.45 | 2.20 | 2.49 | 0.56 | 2.46 | 1.43 |
| Gross Margin | 100.00% | 100.00% | 100.00% | 93.95% | 93.49% | 93.54% |
| Operating Margin | 55.74% | 50.72% | 70.75% | 71.83% | 76.50% | 57.94% |
| Profit Margin | 3.00% | -5.21% | 43.94% | 24.18% | 17.52% | 11.45% |
| Free Cash Flow Margin | 10.24% | -103.47% | -9.30% | -32.65% | 73.42% | 5.14% |
| EBITDA | 1.90B | 1.28B | 792.00M | 740.00M | 783.41M | 395.15M |
| EBITDA Margin | 97.98% | 96.53% | 96.94% | 89.48% | 90.49% | 78.36% |
| D&A For EBITDA | 817.00M | 607.00M | 214.00M | 146.00M | 121.07M | 102.99M |
| EBIT | 1.08B | 672.00M | 578.00M | 594.00M | 662.34M | 292.16M |
| EBIT Margin | 55.74% | 50.72% | 70.75% | 71.83% | 76.50% | 57.94% |
| Effective Tax Rate | 33.97% | 8.41% | 0.59% | |||
| Revenue as Reported | 2.04B | 1.40B | 861.00M | 828.00M | 866.47M | 504.92M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 77.00M | 13.00M | 27.00M | 25.87M | 18.18M | 39.45M |
| Cash & Short-Term Investments | 77.00M | 13.00M | 27.00M | 25.87M | 18.18M | 39.45M |
| Accounts Receivable | 488.00M | 350.00M | 180.00M | 112.01M | 87.92M | 70.71M |
| Other Receivables | 813.00K | 728.00K | ||||
| Receivables | 488.00M | 350.00M | 180.00M | 112.82M | 88.64M | 70.71M |
| Prepaid Expenses | 6.00M | 13.00M | 11.00M | 4.47M | 2.47M | |
| Other Current Assets | 9.00M | 37.00M | 20.00M | 358.00K | 9.33M | 989.00K |
| Total Current Assets | 580.00M | 413.00M | 238.00M | 143.52M | 118.62M | 111.15M |
| Property, Plant & Equipment | 11.30B | 12.21B | 4.64B | 3.77B | 2.75B | 2.92B |
| Long-Term Deferred Tax Assets | 124.00M | 33.00M | 185.00M | 56.66M | 49.66M | |
| Long-Term Deferred Charges | 5.50M | 200.00K | 2.76M | |||
| Other Long-Term Assets | 46.00M | 16.00M | 8.00M | 101.00K | 1.62M | |
| Total Assets | 12.05B | 12.67B | 5.07B | 3.97B | 2.92B | 3.03B |
| Accounts Payable | 1.35M | 1.44M | 69.00K | |||
| Accrued Expenses | 66.00M | 83.00M | 34.00M | 25.71M | 17.92M | 11.63M |
| Current Income Taxes Payable | 1.93M | 911.00K | 471.00K | |||
| Other Current Liabilities | 25.00M | 28.00M | 15.00M | 4.28M | 1.68M | 12.30M |
| Total Current Liabilities | 91.00M | 111.00M | 49.00M | 33.26M | 21.95M | 24.47M |
| Long-Term Debt | 1.68B | 2.19B | 1.08B | 1.08B | 576.89M | 776.73M |
| Other Long-Term Liabilities | 4.00M | 11.00M | 30.00M | 201.00K | 7.00K | |
| Total Liabilities | 1.77B | 2.31B | 1.16B | 1.12B | 598.85M | 801.19M |
| Common Stock | 690.01M | 814.09M | ||||
| Additional Paid-In Capital | 5.31B | 4.73B | 1.57B | 1.03B | ||
| Retained Earnings | -273.00M | -278.00M | 118.00M | -16.79M | ||
| Total Common Equity | 5.04B | 4.45B | 1.69B | 1.01B | 690.01M | 814.09M |
| Minority Interest | 5.25B | 5.92B | 2.22B | 1.84B | 1.63B | 1.42B |
| Shareholders' Equity | 10.28B | 10.36B | 3.91B | 2.86B | 2.32B | 2.23B |
| Total Liabilities & Equity | 12.05B | 12.67B | 5.07B | 3.97B | 2.92B | 3.03B |
| Total Debt | 1.68B | 2.19B | 1.08B | 1.08B | 576.89M | 776.73M |
| Net Cash (Debt) | -1.60B | -2.17B | -1.06B | -1.06B | -558.72M | -737.28M |
| Net Cash Per Share | -9.24 | -15.25 | -11.24 | -14.25 | -7.38 | -10.78 |
| Filing Date Shares Outstanding | 194.41M | 176.72M | 131.31M | 86.14M | 72.68M | 76.97M |
| Total Common Shares Outstanding | 191.38M | 170.94M | 102.98M | 86.14M | 73.23M | 78.55M |
| Working Capital | 489.00M | 302.00M | 189.00M | 110.26M | 96.67M | 86.68M |
| Book Value Per Share | 26.31 | 26.02 | 16.38 | 11.77 | 9.42 | 10.36 |
| Tangible Book Value | 5.04B | 4.45B | 1.69B | 1.01B | 690.01M | 814.09M |
| Tangible Book Value Per Share | 26.31 | 26.02 | 16.38 | 11.77 | 9.42 | 10.36 |
| Land | 5.69M | 5.69M | 5.69M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 59.00M | -68.00M | 359.00M | 200.00M | 151.67M | 57.94M |
| Depreciation & Amortization | 817.00M | 607.00M | 214.00M | 146.00M | 121.07M | 102.99M |
| Asset Writedown & Restructuring Costs | 768.00M | 768.00M | ||||
| Other Operating Activities | 4.00M | -190.00M | 88.00M | 310.00M | 445.56M | 180.27M |
| Change in Accounts Receivable | -135.00M | -59.00M | -41.00M | -24.00M | -17.20M | -36.50M |
| Change in Accounts Payable | -21.00M | -21.00M | 8.00M | 7.00M | 457.00K | 2.27M |
| Change in Income Taxes | 440.00K | 471.00K | ||||
| Change in Other Net Operating Assets | 3.00M | 16.00M | -8.00M | -1.00M | -2.20M | -324.00K |
| Operating Cash Flow | 1.50B | 1.05B | 620.00M | 638.00M | 699.80M | 307.11M |
| Capital Expenditures | -1.30B | -2.42B | -696.00M | -908.00M | -64.13M | -281.18M |
| Sale of Property, Plant & Equipment | 611.00M | 88.00M | 111.70M | |||
| Investing Cash Flow | -686.00M | -2.42B | -608.00M | -908.00M | 47.57M | -281.18M |
| Long-Term Debt Issued | 3.25B | 842.00M | 973.00M | 272.00M | 330.00M | |
| Long-Term Debt Repaid | -2.16B | -844.00M | -462.00M | -472.96M | -110.00M | |
| Net Debt Issued (Repaid) | 563.00M | 1.09B | -2.00M | 511.00M | -200.96M | 220.00M |
| Issuance of Common Stock | 1.23B | 476.00M | 200.00M | |||
| Repurchase of Common Stock | -366.00M | -194.00M | -95.00M | -150.59M | -46.00M | |
| Common Dividends Paid | -400.00M | -327.00M | -224.00M | -134.00M | -184.35M | -76.65M |
| Other Financing Activities | -557.00M | -441.00M | -261.00M | -204.00M | -232.73M | -102.96M |
| Financing Cash Flow | -760.00M | 1.36B | -11.00M | 278.00M | -768.64M | -5.61M |
| Net Cash Flow | 49.00M | -14.00M | 1.00M | 8.00M | -21.27M | 20.33M |
| Free Cash Flow | 198.00M | -1.37B | -76.00M | -270.00M | 635.66M | 25.94M |
| Free Cash Flow Margin | 10.24% | -103.47% | -9.30% | -32.65% | 73.42% | 5.14% |
| Free Cash Flow Per Share | 1.14 | -9.62 | -0.81 | -3.64 | 8.40 | 0.38 |
| Levered Free Cash Flow | 46.00M | -1.59B | -244.61M | -426.65M | 416.18M | -72.46M |
| Unlevered Free Cash Flow | 124.75M | -1.52B | -198.36M | -396.65M | 439.64M | -52.85M |
| Cash Interest Paid | 88.00M | 70.00M | 74.00M | 40.00M | 36.87M | 30.78M |
| Cash Income Tax Paid | 108.00M | 49.00M | 56.00M | 51.00M | 16.99M | 1.05M |
| Change in Working Capital | -153.00M | -64.00M | -41.00M | -18.00M | -18.51M | -34.08M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 16.56B | 6.51B | 5.05B | 2.73B | ||
| Enterprise Value | 18.16B | 15.40B | 7.64B | 4.97B | ||
| Last Close Price | 47.68 | 37.05 | 44.41 | 26.83 | ||
| PE Ratio | 138.94 | 14.07 | 13.67 | |||
| Forward PE | 15.92 | 25.54 | 26.05 | 10.08 | ||
| PS Ratio | 8.62 | 4.91 | 6.18 | 3.31 | ||
| PB Ratio | 1.81 | 0.63 | 1.29 | 0.96 | ||
| P/TBV Ratio | 3.31 | 1.46 | 3.00 | 2.70 | ||
| P/OCF Ratio | 11.15 | 6.18 | 8.15 | 4.29 | ||
| PEG Ratio | 0.97 | 19.50 | ||||
| EV/Sales Ratio | 9.45 | 11.62 | 9.35 | 6.01 | ||
| EV/EBITDA Ratio | 9.64 | 12.04 | 9.65 | 6.71 | ||
| EV/EBIT Ratio | 16.95 | 22.91 | 13.22 | 8.37 | ||
| Debt / Equity Ratio | 0.16 | 0.21 | 0.28 | 0.38 | 0.25 | 0.35 |
| Debt / EBITDA Ratio | 0.89 | 1.71 | 1.37 | 1.46 | 0.74 | 1.97 |
| Debt / FCF Ratio | 8.47 | 0.91 | 29.95 | |||
| Net Debt / Equity Ratio | 0.16 | 0.21 | 0.27 | 0.37 | 0.24 | 0.33 |
| Net Debt / EBITDA Ratio | 0.84 | 1.70 | 1.33 | 1.43 | 0.71 | 1.87 |
| Net Debt / FCF Ratio | 8.09 | -1.58 | -13.89 | -3.92 | 0.88 | 28.43 |
| Asset Turnover | 0.18 | 0.15 | 0.18 | 0.24 | 0.29 | 0.18 |
| Quick Ratio | 6.21 | 3.27 | 4.22 | 4.17 | 4.87 | 4.50 |
| Current Ratio | 6.37 | 3.72 | 4.86 | 4.32 | 5.41 | 4.54 |
| Return on Equity (ROE) | 1.09% | -2.89% | 17.86% | 19.35% | 28.76% | 12.54% |
| Return on Assets (ROA) | 6.17% | 4.74% | 7.99% | 10.77% | 13.91% | 6.65% |
| Return on Invested Capital (ROIC) | 5.97% | 7.68% | 13.02% | 16.01% | 22.64% | 10.82% |
| Return on Capital Employed (ROCE) | 9.00% | 5.40% | 11.50% | 15.10% | 22.90% | 9.70% |
| Earnings Yield | 0.72% | -1.04% | 7.11% | 7.31% | ||
| FCF Yield | 1.19% | -21.07% | -1.50% | -9.87% | ||
| Dividend Yield | 5.43% | 5.78% | 5.07% | 1.76% | ||
| Payout Ratio | 738.40% | 62.40% | 67.00% | 121.55% | 132.30% | |
| Buyback Yield / Dilution | -54.43% | -51.74% | -26.63% | 1.99% | -10.66% | -1.04% |
| Total Shareholder Return | -49.07% | -45.96% | -21.56% | 3.75% | -10.66% | -1.04% |