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Matador Resources Co (MTDR) stock

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NYSE: MTDR NYSE Oil & Gas Exploration & Production Next results ~November 3, 2026

C+ Fundamentals grade

Matador Resources Co is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$150

Valuation models combined (2)

Base case. Range ~$76–$230. Weighted average of 2 models (forward price-to-earnings vs peers, justified price-to-book).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Matador Resources Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Matador Resources files

Where Matador Resources Co stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.65bn, down 3.6% on a year earlier, faster than -10.1% a quarter earlier. Free-cash-flow margin rose to 7.3% from -36.4% a year earlier. Operating margin narrowed to 32.2% from 37.8%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 5 financial-health checks. Our valuation models combined value is $96.57 a share, against a share price of $57.45.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Matador Resources Co's trailing-twelve-month revenue fell 3.6% year on year, with a free-cash-flow margin of 7.3%. Where it stands out: stock pay as % of revenue of 0.6% ranks 7 of 47 oil & gas exploration & production companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to -3.6% (+6.6pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 32.2% of revenue is left as operating profit, against a median of 19.9% for oil & gas exploration & production companies we cover.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 16.4% over 90 days.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 3.6% over the last 12 months.
  • Margins narrowing. Operating margin is down 5.7 points on a year ago.
  • Weak cash conversion. Free cash flow was 37% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 31.2% ranks 33 of 43 oil & gas exploration & production companies we cover (median 17.6%).
  • Heavily shorted. 12.5% of the shares available to trade are sold short (9.4 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$2.61 against an average estimate of $2.09: beat by 24.6%
Revenue
$1.19bn, up 32.5% on a year earlier
Share reaction
-0.3% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
oil Production, Bbl per day 127500 to 129000 (Full-Year 2026); natural Gas Production, MMcf per day 546 to 567 (Full-Year 2026)
Next report
November 3, 2026; average EPS estimate $1.78

Matador Resources' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-8.4%
  • 1 week-7.2%
  • 1 month+4.2%
  • This year+34.3%
  • 1 year+45.8%
  • 5 years+44.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.6B
Operating margin
32.2%
Net margin
19.9%
EPS (TTM, diluted)
$5.83

Growth

Revenue growth
−3.6%
Change in growth rate
+6.6 pts
Share count change
−1.0%

Cash

Free cash flow (TTM)
$265M
FCF margin
7.3%
Stock pay % of revenue
0.6%

Earnings

Last results
August 5, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Deal
  2. Leadership
  3. Results
  4. Guidance
  5. Agreement
  6. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Matador Resources Co valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Matador Resources Co as an oil and gas producer, with every model that fits that kind of business. Cost of equity 8.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.69 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. — Does not apply: latest tagged standardised measure is for 2012-12-31: out of date
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$76 ~$62–$120 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$380 ~$260–$560 Left out: out of range vs price (6.75x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$230 ~$190–$290 Included
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$150 ~$76–$230 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Matador Resources Co with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$18.12$23.61$28.53$14.23$16.47$11.05$33.97$52.94$53.24$53.43$41.52$55.76
Market value$1.5bn$2.2bn$2.9bn$1.6bn$1.9bn$1.3bn$4.0bn$6.4bn$6.4bn$6.6bn$5.2bn$6.9bn
+ Net debt (− = net cash)−$17m$361m$478m$1.2bn$1.3bn$382m$337m$655m$2.2bn$3.3bn$3.4bn$4.2bn
Enterprise value$1.5bn$2.5bn$3.4bn$2.8bn$3.2bn$1.7bn$4.4bn$7.0bn$8.5bn$9.9bn$8.6bn$11.1bn
Multiples
Price / sales 4.6x8.1x5.4x1.8x2.0x1.5x2.4x2.1x2.3x1.9x1.4x1.9x
Price / earnings ——23.2x5.9x22.0x—6.9x5.2x7.5x7.5x6.8x9.6x
Price / free cash flow ——————18.8x6.9x——19.2x26.1x
EV / EBITDA ——10.1x4.5x5.5x—3.9x3.2x4.4x4.1x3.5x4.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

49 /100

Moderate moat

How hard Matador Resources's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Net income has been a median 7.2% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median 32.5%; its worst year was -8.3%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 4 of 10 years, at a median -37.3% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 5.8% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $1.1bn and EPS of $1.78 (range $0.80 to $2.18) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $8.18 +42% $4.2bn +13%
Next $10.19 +25% $4.8bn +14%

Next year's EPS estimate has moved +16.4% in 90 days, across 20 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +18.5% on 90 days ago. In the last 30 days, 6 analysts raised Matador Resources Co's forecast and 2 cut it.

Consensus EPS forecast Matador Resources Co, last 90 days
$6.00 $7.00 $8.00 $9.00 $10.00 $11.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.90 Current fiscal year, 60 days ago: $7.56 Current fiscal year, 30 days ago: $7.88 Current fiscal year, 7 days ago: $8.09 Current fiscal year, Now: $8.18 $8.18 Next fiscal year, 90 days ago: $8.75 Next fiscal year, 60 days ago: $8.57 Next fiscal year, 30 days ago: $9.16 Next fiscal year, 7 days ago: $10.05 Next fiscal year, Now: $10.19 $10.19

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.90$8.75
60 days ago $7.56$8.57
30 days ago $7.88$9.16
7 days ago $8.09$10.05
Now $8.18$10.19

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $2.09 $2.61 +24.6%
Mar 2026 $1.26 $1.53 +21.4%
Dec 2025 $0.76 $0.87 +15.1%
Sept 2025 $1.23 $1.36 +11.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Oil Production, Bbl per day Full-Year 2026 127,500 to 129,000 Raised
    “Oil Production, Bbl per day 123,000 to 125,000 127,500 to 129,000” source
  • Natural Gas Production, MMcf per day Full-Year 2026 546 to 567 Raised
    “Natural Gas Production, MMcf per day 525 to 545 546 to 567” source
  • Total Oil Equivalent Production, BOE per day Full-Year 2026 218,500 to 223,500 Raised
    “Total Oil Equivalent Production, BOE per day 210,500 to 216,000 218,500 to 223,500” source
  • Total operating expenses per BOE Full-Year 2026 $32 to $34 Raised
    “Total operating expenses per BOE (1) $31.00 to $33.00 $32.00 to $34.00” source
  • Current income taxes (% of pretax income) Full-Year 2026 0% to 1% Maintained
    “Current income taxes (% of pretax income) 0% to 1% No Change” source
  • D/C/E CapEx full-year 2026 $1.48bn to $1.56bn Raised
    “Matador now expects its full-year 2026 drilling, completing and equipping ("D/C/E") capital expenditures to be in the $1.48 to $1.56 billion range and midstream capital expenditures in the $145 to $165 million range.” source
Show 12 more items
  • Midstream CapEx full-year 2026 $145m to $165m Raised
    “Matador now expects its full-year 2026 drilling, completing and equipping ("D/C/E") capital expenditures to be in the $1.48 to $1.56 billion range and midstream capital expenditures in the $145 to $165 million range.” source
  • Total CapEx Full-Year 2026 $1.625bn to $1.725bn Raised
    “Total CapEx $1.45 to $1.55 billion $1.625 to $1.725 billion” source
  • Drilling and completion costs per completed lateral foot 2026 $785 to $805 Maintained
    “Notably, Matador has not made any revisions to its 2026 drilling and completion costs per foot estimates, which remain at $785 to $805 per completed lateral foot.” source
  • Adjusted free cash flow full year 2026 about $900m Non-GAAP
    “We currently estimate adj usted free cash flow for the full year 2026 will be approximately $900 million (assuming strip oil and natural gas pricing as of late July 2026), and we will continue to prioritize the use of free cash flow for debt repayment.” source
  • Oil production growth, year-over-year full-year 2026 about 7% growth Raised
    “On the strength of this performance, we have increased our full-year 2026 outlook for oil from 4% growth up to 7% year-over-year oil production growth.” source
  • Organic oil production growth, year-over-year · organic (excluding Paloma and Ridge Runner acquisitions) full-year 2026 about 6% growth Raised
    “Excluding the impact of these accretive acquisitions, Matador expects to achieve organic oil production growth of 6% year-over-year as compared to its original expectations of 3% growth.” source
  • Average Daily Total Production, BOE per day Q3 2026E 222,000 to 226,000
    “Q3 2026E 222,000 to 226,000 128,500 to 130,500 561.0 to 573.0 58%” source
  • Average Daily Oil Production, Bbl per day Q3 2026E 128,500 to 130,500
    “Q3 2026E 222,000 to 226,000 128,500 to 130,500 561.0 to 573.0 58%” source
  • Average Daily Natural Gas Production, MMcf per day Q3 2026E 561 to 573
    “Q3 2026E 222,000 to 226,000 128,500 to 130,500 561.0 to 573.0 58%” source
  • D/C/E and midstream capital expenditures third quarter of 2026 $410m to $440m
    “Matador expects D/C/E and midstream capital expenditures for the third quarter of 2026 will be approximately $410 to $440 million.” source
  • Net operated horizontal wells turned to sales third quarter of 2026 30 to 33
    “At August 5, 2026, Matador expects to turn to sales 30 to 33 net operated horizontal wells in the Delaware Basin during the third quarter of 2026, including 11.3 net wells near acreage acquired in the May 2026 Federal lease sale.” source
  • Sequential production growth fourth quarter of 2026 5% growth to 6% growth
    “The Company expects sequential production growth of approximately 5% to 6% in the fourth quarter of 2026, primarily as a result of the Paloma and Ridge Runner acquisitions, which are expected to contribute approximately 10,000 BOE per day (57% oil) in the fourth quarter.” source

How earlier guidance turned out

  • D/C/E and midstream CapEx, second quarter of 2026 guided $430m to $460m Above range: $732m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

22 analysts, Oct 2026
Buy1882%
Hold418%
Sell00%

Monthly trend

  1. Oct 2026315422
  2. Sep 2026315321
  3. Aug 2026313319
  4. Jul 2026313319

Counts of recommendations published by analysts covering Matador Resources Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
12.5%
of tradable shares
Days to cover
9.42
at average volume
Short interest, 1 month
+9%
to October 15, 2026
Held by institutions
99%
of shares
Held by insiders
7.1%
of shares
Employees
483
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +45.8%

$38.23 on October 31, 2025 to $55.76

ThenNowEffect
Revenue (last 12 months) $3.8bn $3.6bn −3.6%
Net margin 22.6% 19.9% −12.0%
P/E multiple 5.6x 9.6x +70.3%
Share count 125m 124m +1.0%

Biggest factor: p/e multiple.

Last 3 years −4.3%

$58.27 on November 3, 2023 to $55.76

ThenNowEffect
Revenue (last 12 months) $2.7bn $3.6bn +32.7%
Net margin 33.5% 19.9% −40.7%
P/E multiple 7.6x 9.6x +25.5%
Share count 120m 124m −3.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MTDR+207%+56%+1%+0%−22%+34%
Industry peers (median)+86%+54%−8%+2%−15%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MTDR67%67%50%50%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MTDR−31%−35%−38%−32%−42%−29%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 97% from May 17, 2018 to March 18, 2020. Getting back needed a 2757% gain, reached on June 15, 2021, 454 days after the low.

Price behaviour

52-week range
$36.03 – $64.51
From 52-week high
−13.6%
vs 50-day average
−1.5%
vs 200-day average
+3.1%
Volatility (1 year)
42%
Beta vs S&P 500
-0.73

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±3.4%
After a week
5 up, 7 down
typical move ±4.9%
After a month
5 up, 7 down
typical move ±10.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −0.3% −0.4% +8.4% +23.3%
May 6, 2026 −11.7% +1.1% −8.3% −14.3%
February 24, 2026 −2.8% +1.6% +5.4% +20.2%
October 21, 2025 −8.6% −0.5% −9.7% −4.5%
July 22, 2025 +0.9% +0.9% +5.0% −6.6%
April 23, 2025 −0.7% +3.7% −3.6% +7.1%
April 8, 2025 +10.9% +8.8% +1.6% +11.3%
February 18, 2025 −1.0% +0.5% −8.3% −7.4%
October 22, 2024 −0.1% −1.0% −0.6% +17.0%
July 23, 2024 −1.6% −2.4% −3.7% −10.4%
July 2, 2024 +1.4% +1.1% +0.7% −0.9%
April 23, 2024 +0.9% +1.1% −3.7% −6.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Matador Resources Co in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Matador Resources Co
$2.5B $3B $3.5B $4B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2.7B Revenue (TTM), FY23 Q4: $2.8B Revenue (TTM), FY24 Q1: $3B Revenue (TTM), FY24 Q2: $3.2B Revenue (TTM), FY24 Q3: $3.4B Revenue (TTM), FY24 Q4: $3.5B Revenue (TTM), FY25 Q1: $3.7B Revenue (TTM), FY25 Q2: $3.8B Revenue (TTM), FY25 Q3: $3.8B Revenue (TTM), FY25 Q4: $3.7B Revenue (TTM), FY26 Q1: $3.4B Revenue (TTM), FY26 Q2: $3.6B $3.6B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2.7B
FY23 Q4 $2.8B
FY24 Q1 $3B
FY24 Q2 $3.2B
FY24 Q3 $3.4B
FY24 Q4 $3.5B
FY25 Q1 $3.7B
FY25 Q2 $3.8B
FY25 Q3 $3.8B
FY25 Q4 $3.7B
FY26 Q1 $3.4B
FY26 Q2 $3.6B
Revenue growth, TTM YoY Matador Resources Co
-20% -10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -8.2% Revenue growth, TTM YoY, FY23 Q4: -8.2% Revenue growth, TTM YoY, FY24 Q1: -0.6% Revenue growth, TTM YoY, FY24 Q2: 18.1% Revenue growth, TTM YoY, FY24 Q3: 25.9% Revenue growth, TTM YoY, FY24 Q4: 24.9% Revenue growth, TTM YoY, FY25 Q1: 23.0% Revenue growth, TTM YoY, FY25 Q2: 16.5% Revenue growth, TTM YoY, FY25 Q3: 13.3% Revenue growth, TTM YoY, FY25 Q4: 5.5% Revenue growth, TTM YoY, FY26 Q1: -10.1% Revenue growth, TTM YoY, FY26 Q2: -3.6% -3.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -8.2%
FY23 Q4 -8.2%
FY24 Q1 -0.6%
FY24 Q2 18.1%
FY24 Q3 25.9%
FY24 Q4 24.9%
FY25 Q1 23.0%
FY25 Q2 16.5%
FY25 Q3 13.3%
FY25 Q4 5.5%
FY26 Q1 -10.1%
FY26 Q2 -3.6%
Operating margin (TTM) Matador Resources Co
25% 30% 35% 40% 45% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 45.4% Operating margin (TTM), FY23 Q4: 43.1% Operating margin (TTM), FY24 Q1: 42.1% Operating margin (TTM), FY24 Q2: 42.8% Operating margin (TTM), FY24 Q3: 42.7% Operating margin (TTM), FY24 Q4: 40.9% Operating margin (TTM), FY25 Q1: 40.3% Operating margin (TTM), FY25 Q2: 37.8% Operating margin (TTM), FY25 Q3: 35.2% Operating margin (TTM), FY25 Q4: 33.2% Operating margin (TTM), FY26 Q1: 26.4% Operating margin (TTM), FY26 Q2: 32.2% 32.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 45.4%
FY23 Q4 43.1%
FY24 Q1 42.1%
FY24 Q2 42.8%
FY24 Q3 42.7%
FY24 Q4 40.9%
FY25 Q1 40.3%
FY25 Q2 37.8%
FY25 Q3 35.2%
FY25 Q4 33.2%
FY26 Q1 26.4%
FY26 Q2 32.2%
FCF margin (TTM) Matador Resources Co
-60% -40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -42.3% FCF margin (TTM), FY23 Q4: -48.5% FCF margin (TTM), FY24 Q1: -50.6% FCF margin (TTM), FY24 Q2: 2.0% FCF margin (TTM), FY24 Q3: -50.3% FCF margin (TTM), FY24 Q4: -47.4% FCF margin (TTM), FY25 Q1: -35.3% FCF margin (TTM), FY25 Q2: -36.4% FCF margin (TTM), FY25 Q3: 8.0% FCF margin (TTM), FY25 Q4: 7.3% FCF margin (TTM), FY26 Q1: 2.1% FCF margin (TTM), FY26 Q2: 7.3% 7.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -42.3%
FY23 Q4 -48.5%
FY24 Q1 -50.6%
FY24 Q2 2.0%
FY24 Q3 -50.3%
FY24 Q4 -47.4%
FY25 Q1 -35.3%
FY25 Q2 -36.4%
FY25 Q3 8.0%
FY25 Q4 7.3%
FY26 Q1 2.1%
FY26 Q2 7.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Matador Resources took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $3.7B
  2. Cost of revenue $208M · 5.6%
  3. Gross profit $3.5B · 94.4%
  4. Selling, general and admin $137M · 3.7%
  5. Other operating costs $2.1B · 57.5%
  6. Operating income $1.2B · 33.2%
  7. Income tax $173M · 4.7%
  8. Interest and other $295M · 8.0%
  9. Net income $759M · 20.5%

Shares of revenue. Source: Matador Resources's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 42 79 165 261 432 318 264 544 900 984 862 1,663 3,058 2,807 3,505 3,696 3,645
Gross profit — — — — — — — — — — 821 1,602 2,963 2,683 3,338 3,488 —
EBITDA 25 16 47 159 315 −628 −55 338 628 586 −160 1,138 2,226 1,926 2,409 2,422 2,392
Operating income 10 −15 −33 60 180 −807 −177 161 363 235 −521 793 1,759 1,209 1,435 1,227 1,173
Net income 6 −10 −33 45 111 −680 −97 126 274 88 −593 585 1,214 846 885 759 724
Diluted EPS — — — $0.77 $1.56 −$8.34 −$1.07 $1.23 $2.41 $0.75 −$5.11 $4.91 $10.11 $7.05 $7.14 $6.09 $5.83
Growth (year on year)
Revenue — +86.5% +108.4% +58.0% +65.7% −26.4% −16.9% +105.8% +65.3% +9.3% −12.4% +92.9% +83.9% −8.2% +24.9% +5.5% −3.6%
EBITDA — −35.1% +185.9% +237.8% +98.4% −299.3% — — +85.7% −6.7% −127.2% — +95.6% −13.5% +25.1% +0.5% −6.2%
Operating income — −256.8% — — +198.3% −547.3% — — +125.9% −35.2% −321.5% — +121.8% −31.3% +18.6% −14.5% −18.0%
Net income — −261.7% — — +145.6% −713.5% — — +117.9% −68.0% −775.8% — +107.6% −30.3% +4.6% −14.2% −15.2%
Diluted EPS — — — — +102.6% −634.6% — — +95.9% −68.9% −781.3% — +105.9% −30.3% +1.3% −14.7% −14.4%
Margins
Gross margin — — — — — — — — — — 95.2% 96.3% 96.9% 95.6% 95.2% 94.4% —
EBITDA margin 59.7% 20.8% 28.5% 60.9% 72.9% −197.4% −20.8% 62.2% 69.9% 59.6% −18.5% 68.4% 72.8% 68.6% 68.7% 65.5% 65.6%
Operating margin 23.0% −19.3% −20.2% 23.2% 41.7% −253.6% −67.0% 29.6% 40.4% 23.9% −60.5% 47.7% 57.5% 43.1% 40.9% 33.2% 32.2%
Net margin 15.0% −13.0% −20.1% 17.3% 25.6% −213.7% −36.8% 23.1% 30.5% 8.9% −68.8% 35.2% 39.7% 30.1% 25.3% 20.5% 19.9%
Free-cash-flow margin 60.4% 72.2% 70.8% 67.3% −83.0% −154.0% −121.1% −105.4% −99.6% −40.1% −28.3% 13.0% 29.9% −48.5% −47.4% 7.3% 7.3%
Cash flow
Cash from operations 27 62 124 179 251 209 134 299 609 552 478 1,053 1,979 1,868 2,247 2,425 2,604
Capital spending 2 5 7 4 610 698 454 873 1,505 946 722 838 1,063 3,228 3,907 2,155 2,339
Free cash flow 26 57 117 175 −359 −490 −320 −574 −896 −394 −244 215 915 −1,360 −1,660 270 265
Stock-based pay 1 2 0 4 6 9 12 17 17 19 14 9 15 14 15 18 20
Free cash flow after stock pay 25 55 117 172 −364 −499 −333 −590 −913 −412 −258 206 900 −1,374 −1,675 251 245
Balance sheet
Cash 21 10 2 6 8 17 213 97 65 40 58 48 505 53 23 15 26
Total debt 0 113 150 200 338 0 574 574 1,258 1,327 440 385 1,160 2,207 3,325 3,402 4,216
Net debt (negative = net cash) −21 103 148 194 330 −17 361 478 1,193 1,287 382 337 655 2,154 3,302 3,387 4,190
Diluted shares 41m 43m 54m 59m 71m 82m 91m 103m 114m 117m 116m 119m 120m 120m 124m 125m 124m
Returned to shareholders
Dividends 0 0 0 0 0 — — — — — 0 15 35 77 105 163 178
Buybacks 10 — — — — — — — — — — — — 0 0 56 24
Total returned 11 0 0 0 0 — — — — — 0 15 35 77 105 219 202

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $13.5bn
Short-term assets $1.0bnLonger-term assets $12.5bn
What it owes, and who funded it · $7.5bn
Short-term liabilities $1.5bnShareholders' equity $5.9bn
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $1.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $26m of cash against $4.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 71% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $2.6bn of operating cash flow against $4.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.2bn against $218m of interest.

From Matador Resources Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$23.7M
Dividends (TTM)
$178M
Returned to shareholders
76%
of free cash flow
Buybacks, last 3 fiscal years
$55.8M
Diluted share count
−1.0%
year over year
Total shareholder yield
2.9%
dividends 2.6% + buybacks 0.3% of market value
Dividend payout ratio
25%
of net income paid out
Days sales outstanding
41 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated MTDR RRC CRC MUR CRGY CNX Median
Revenue, last 12 months $3.6bn $3.5bn $4.0bn $3.0bn $4.8bn $2.6bn $1.4bn
Revenue growth, last 12 months −3.6% 20.8% −3.4% 7.8% 33.5% 47.0% 10.6%
Revenue growth, 3-year average 9.9% −4.6% 5.2% −8.6% 25.8% −14.2% 1.4%
Revenue growth, latest quarter 32.5% 12.6% 32.6% 33.5% 55.9% −0.7% 31.5%
Gross margin — 94.1% — 100.0% — — 75.2%
Operating margin 32.2% — −1.4% 18.6% 27.8% — 21.1%
Operating margin, 3-year average 37.6% — 12.6% 21.2% 14.3% — 16.5%
Net margin 19.9% 25.2% −3.0% 9.8% 1.3% 35.2% 10.1%
Cash from operations / revenue 71.4% 40.2% 22.0% 52.1% 43.7% 42.7% 42.4%
Free-cash-flow margin 7.3% 21.7% 9.7% 50.4% 38.8% 18.6% 19.3%
Free-cash-flow margin, 3-year average −9.0% 18.1% 10.9% 52.8% 25.0% 19.7% 19.1%
Stock pay / revenue 0.6% 4.1% 1.1% 1.7% 3.5% 0.9% 1.5%
Change in share count −1.0% −1.8% −5.5% −1.2% — 1.9% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth -3.6% 10.6% 42 of 57
Change in growth rate Growth +6.6pp +4.9pp 24 of 57
Operating margin Profitability 32.2% 19.9% 11 of 42
Net margin Profitability 19.9% 10.1% 20 of 57
Free-cash-flow margin Cash generation 7.3% 23.2% 38 of 51
Stock pay as % of revenue Cash generation 0.6% 1.2% 7 of 47
Long-term debt as % of assets Balance sheet 31.2% 17.6% 33 of 43
Change in share count Balance sheet -1.0% 0.4% 18 of 48
Days sales outstanding Balance sheet 41 days 41 days 22 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Oil and Gas $3.2B 88.6% ▲ 3.0%
Oil Reserves $2.8B 87.7% ▲ 2.4%
Natural Gas Reserves $399M 12.3% ▲ 7.3%
Natural Gas Sales $253M 6.9% ▲ 30.4%
Natural Gas Midstream $165M 4.5% ▲ 16.8%

From Matador Resources Co's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$6B
Institutions reporting
491
Shares held vs prior quarter
▲ 2.7%
Positions opened / closed
74 / 76

Top buyers and sellers, Q2 2026: 266 institutions bought and 226 sold ; the biggest buyer was Marshall Wace, LLP (+766K shares) and the biggest seller First Trust Advisors LP (−742K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $574M 11.5M 9.5% ▲ 3.5%
Vanguard Portfolio Management LLC $405M 8.1M 6.7% ▼ 3.9%
Dimensional Fund Advisors LP $353M 7.1M 5.9% ▲ 2.0%
State Street Corp $261M 5.2M 4.3% ▲ 2.1%
Vanguard Capital Management LLC $254M 5.1M 4.2% ▲ 0.6%
Alliancebernstein L.P. $203M 3.2M 3.4% ▲ 20.6%
LSV Asset Management $200M 4.0M 3.3% ▲ 4.6%
Wellington Management Group LLP $199M 4.0M 3.3% 0.0%
T. Rowe Price Investment Management, Inc. $186M 3.7M 3.1% ▼ 0.4%
Adage Capital Partners Gp, L.L.C. $158M 3.2M 2.6% ▲ 4.8%
Morgan Stanley $145M 2.9M 2.4% ▲ 34.6%
American Century Companies Inc $137M 2.8M 2.3% ▲ 24.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Matador Resources Co's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $2.7M 33 trades by 12 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $2.7M net buying
Insider Date Trade Shares Price Value
Calvert Christopher P EVP and CFO August 27, 2026 Buy 2,500 $56.64 $141,600
Foran Joseph Wm Chairman and CEO August 26, 2026 Buy 555 $54.49 $30,242
Foran Joseph Wm Chairman and CEO August 17, 2026 Buy 400 $53.64 $21,456
Foran Joseph Wm Chairman and CEO August 13, 2026 Buy 5,000 $51.44 $257,200
Foran Joseph Wm Chairman and CEO August 12, 2026 Buy 10,000 $52.16 $521,600
Foran Joseph Wm Chairman and CEO August 11, 2026 Buy 709 $51.68 $36,641
Foran Joseph Wm Chairman and CEO August 10, 2026 Buy 3,130 $51.04 $159,755
Elsener William Thomas EVP, Reservoir Engineering August 10, 2026 Buy 850 $50.94 $43,299
Baty Robert Gaines Director June 15, 2026 Buy 500 $51.44 $25,720
Foran Joseph Wm Chairman and CEO June 9, 2026 Buy 2,000 $53.07 $106,140
Stetson Glenn W EVP and COO June 9, 2026 Buy 500 $53.41 $26,705
Ehrman Monika U Director June 8, 2026 Buy 362 $55.28 $20,011

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 7 trades and filings

In the last 12 months, 1 member of Congress disclosed 0 purchases and 1 sale of Matador Resources Co shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $15,001 - $50,000, traded January 9, 2026, filed February 13, 2026
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded June 21, 2024, filed July 9, 2024
  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded June 24, 2021, filed July 15, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 24, 2026
  • October 21, 2025
  • July 22, 2025
  • April 23, 2025

Recent SEC filings

Data status

When each part of this page on Matador Resources Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Matador Resources Co in brief

What does Matador Resources Co do?
Matador Resources Co is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Matador Resources Co's stock ticker?
Matador Resources Co trades under the ticker MTDR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Matador Resources Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Matador Resources Co reported revenue of $3.6B, 3.6% lower than a year earlier, according to its SEC filings.
What is Matador Resources Co's free cash flow?
Matador Resources Co's free-cash-flow margin is 7.3% of revenue over the trailing twelve months, ranking 38 of the 51 oil & gas exploration & production companies we cover.
Who are Matador Resources Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Matador Resources Co buying back stock, and does it pay a dividend?
Matador Resources Co spent $23.7M on share repurchases over the trailing twelve months, and its diluted share count fell 1.0% over the year.
What is Matador Resources Co's market cap?
On November 2, 2026, Matador Resources Co's market capitalisation was about $6.9B, with a price-to-earnings ratio of 9.6 and net debt of $4.2B. Market figures come from third-party market data and may be delayed.
Does Matador Resources Co pay a dividend?
Yes: Matador Resources Co paid $178M in dividends over the trailing twelve months, a dividend yield of 2.58% and a payout ratio of 24.6%.
How much debt does Matador Resources Co have?
Matador Resources Co's debt-to-equity ratio is 71.1%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Matador Resources Co's competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Matador Resources Co are Range Resources Corp, California Resources Corp, Murphy OIL Corp, Crescent Energy Co and CNX Resources Corp. The side-by-side comparison below sets their revenue, margins and growth against Matador Resources Co's.
Are insiders buying or selling Matador Resources Co stock?
Over the last 12 months, Matador Resources Co's directors and officers reported 33 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Matador Resources Co's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Matador Resources Co announces its own schedule.