Diamondback Energy, Inc. (FANG)

Diamondback Energy Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	8,846	7,959	9,083	6,747	2,756	3,951
Revenue Growth (YoY)	11.34%	-12.37%	34.62%	144.81%	-30.25%	82.58%
Cost of Revenue	1,826	1,270	910	1,202	760	917
Gross Profit	7,020	6,689	8,173	5,545	1,996	3,034
Selling, General & Admin	165	150	144	146	88	104
Other Operating Expenses	122	451	691	1,023	84	142
Operating Expenses	2,150	2,347	2,179	2,444	1,483	1,700
Operating Income	4,870	4,342	5,994	3,101	513	1,334
Interest Expense	-209	-197	-218	-70	-250	-130
Interest & Investment Income	2	2	1	1	4	1
Earnings From Equity Investments	35	48	77	15	-10	-6
Other Non Operating Income (Expenses)	-50	-20	-5	13	-7	9
EBT Excluding Unusual Items	4,648	4,175	5,849	3,060	250	1,208
Merger & Restructuring Charges	-16	-11	-14	-78	-	-
Gain (Loss) on Sale of Investments	88	88	-	-	-	-
Asset Writedown	-	-	-	-	-6,021	-790
Other Unusual Items	2	-4	-99	-75	-5	-56
Pretax Income	4,722	4,248	5,736	2,907	-5,776	362
Income Tax Expense	1,015	912	1,174	631	-1,104	47
Earnings From Continuing Operations	3,707	3,336	4,562	2,276	-4,672	315
Minority Interest in Earnings	-227	-193	-176	-94	155	-75
Net Income	3,480	3,143	4,386	2,182	-4,517	240
Preferred Dividends & Other Adjustments	24	22	42	20	2	-
Net Income to Common	3,456	3,121	4,344	2,162	-4,519	240
Net Income Growth	0.61%	-28.34%	101.01%	-	-	-71.63%
Shares Outstanding (Basic)	179	180	177	177	158	163
Shares Outstanding (Diluted)	179	180	177	177	158	164
Shares Change (YoY)	0.01%	1.96%	-0.06%	11.82%	-3.58%	56.15%
EPS (Basic)	19.35	17.34	24.61	12.24	-28.61	1.47
EPS (Diluted)	19.34	17.34	24.61	12.24	-28.61	1.47
EPS Growth	0.73%	-29.53%	101.04%	-	-	-81.79%
Free Cash Flow	2,075	1,206	2,712	1,670	61	-958
Free Cash Flow Per Share	11.62	6.70	15.36	9.45	0.39	-5.85
Dividend Per Share	10.760	8.120	11.310	1.950	1.525	0.938
Dividend Growth	56.40%	-28.21%	480.00%	27.87%	62.67%	87.50%
Gross Margin	79.36%	84.04%	89.98%	82.18%	72.42%	76.79%
Operating Margin	55.05%	54.55%	65.99%	45.96%	18.61%	33.76%
Profit Margin	39.07%	39.21%	47.83%	32.04%	-163.97%	6.07%
Free Cash Flow Margin	23.46%	15.15%	29.86%	24.75%	2.21%	-24.25%
EBITDA	6,733	6,088	7,338	4,376	1,824	2,788
EBITDA Margin	76.11%	76.49%	80.79%	64.86%	66.18%	70.56%
D&A For EBITDA	1,863	1,746	1,344	1,275	1,311	1,454
EBIT	4,870	4,342	5,994	3,101	513	1,334
EBIT Margin	55.05%	54.55%	65.99%	45.96%	18.61%	33.76%
Effective Tax Rate	21.50%	21.47%	20.47%	21.71%	-	12.98%
Revenue as Reported	9,278	8,412	9,643	6,797	2,813	3,964

Source: S&P Capital IQ. Standard template. Financial Sources.