Viper Energy, Inc. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
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Viper Energy, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $2.04bn. Operating margin narrowed to 12.3% from 58.0%. It passes 3 of our 5 financial-health checks.
Our model value for Viper Energy is under review, so past values are not shown until it is resolved.
Source: 10-Q filed August 5, 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.
Current signal Operating margin compressing: TTM operating margin fell to 12.3%, down 45.7pp year over year.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
The company also guided to average daily combined production (boe/d) of 133,500.00 to 135,500.00 for the Q3 2026; average daily oil production (bo/d) of 66,000.00 to 67,250.00 for the full year 2026.
| At fiscal year end | 2023 | 2024 | 2025 | Now |
|---|---|---|---|---|
| Share price | $26.83 | $44.41 | $37.05 | $45.72 |
| Market value | $2.0bn | $4.2bn | $5.3bn | $7.9bn |
| + Net debt (− = net cash) | −$26m | $1.1bn | $2.2bn | $1.6bn |
| Enterprise value | $2.0bn | $5.2bn | $7.5bn | $9.5bn |
| Multiples | ||||
| Price / sales | 2.4x | 4.8x | 3.8x | 3.9x |
| Price / earnings | 10.0x | 11.6x | — | 134.3x |
| Price / free cash flow | — | — | — | — |
| EV / EBITDA | — | — | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $2.81 | +69% | $2.5bn | +78% |
| Next | $2.71 | −3% | $2.4bn | −2% |
Next year's EPS estimate has moved +12.0% in 90 days, across 15 analysts.
The consensus EPS forecast for the current fiscal year is +13.9% on 90 days ago. In the last 30 days, 4 analysts raised Viper Energy, Inc.'s forecast and 2 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $2.47 | $2.42 |
| 60 days ago | $2.59 | $2.49 |
| 30 days ago | $2.62 | $2.52 |
| 7 days ago | $2.71 | $2.64 |
| Now | $2.81 | $2.71 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $0.68 | $0.80 | +19.0% |
| Jun 2026 | $0.80 | $0.76 | −5.4% |
| Mar 2026 | $0.53 | $0.55 | +3.3% |
| Dec 2025 | $0.31 | $0.31 | −1.2% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| VNOM | +94% | +62% | +5% | +66% | −17% | +23% |
| Industry peers (median) | +86% | +54% | −8% | +1% | −15% | +17% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| VNOM | 67% | 67% | 67% | 58% | 17% | 64% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| VNOM | −19% | −32% | −23% | −16% | −28% | −19% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since October 29, 2015: 87% from October 3, 2018 to March 23, 2020. Getting back needed a 667% gain, reached on June 7, 2022, 806 days after the low.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 3, 2026 | −5.1% | +3.3% | −5.0% | +3.4% |
| May 4, 2026 | +0.1% | +0.4% | −4.8% | −4.7% |
| February 23, 2026 | −0.3% | −0.3% | +4.3% | +5.9% |
| November 3, 2025 | −2.3% | −1.0% | +0.4% | +7.6% |
Source: SEC EDGAR filings. Retrieved October 20, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY25 Q2 | $982M |
| FY25 Q3 | $1.2B |
| FY25 Q4 | $1.4B |
| FY26 Q1 | $1.7B |
| FY26 Q2 | $2B |
Source: SEC EDGAR filings. Retrieved October 20, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY25 Q2 | 58.0% |
| FY25 Q3 | 21.7% |
| FY25 Q4 | -10.0% |
| FY26 Q1 | -2.5% |
| FY26 Q2 | 12.3% |
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 828 | 861 | 1,395 | 2,041 |
| Operating income | 620 | 567 | −140 | 251 |
| Net income | 200 | 359 | −68 | 59 |
| Diluted EPS | $2.69 | $3.82 | −$0.48 | $0.34 |
| Growth (year on year) | ||||
| Revenue | — | +4.0% | +62.0% | +107.8% |
| Operating income | — | −8.5% | −124.7% | −56.0% |
| Net income | — | +79.5% | −118.9% | −84.1% |
| Diluted EPS | — | +42.0% | −112.6% | — |
| Margins | ||||
| Operating margin | 74.9% | 65.9% | −10.0% | 12.3% |
| Net margin | 24.2% | 41.7% | −4.9% | 2.9% |
| Cash flow | ||||
| Cash from operations | 638 | 620 | 1,053 | 1,495 |
| Stock-based pay | 1 | 3 | 7 | — |
| Balance sheet | ||||
| Cash | 26 | 27 | 13 | 77 |
| Total debt | 0 | 1,083 | 2,186 | 1,678 |
| Net debt (negative = net cash) | −26 | 1,056 | 2,173 | 1,601 |
| Diluted shares | 74m | 94m | 143m | 173m |
| Returned to shareholders | ||||
| Dividends | 129 | 219 | 328 | 401 |
| Total returned | 129 | 219 | 328 | 401 |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 211 | 229 | 245 | 297 | 418 | 435 | 511 | 677 |
| EBITDA | — | — | — | 259 | — | — | — | 623 |
| Operating income | 136 | 144 | 155 | 135 | −176 | −254 | 253 | 428 |
| Net income | 49 | 210 | 75 | 37 | −77 | −103 | 97 | 142 |
| Diluted EPS | $0.52 | $2.18 | $0.62 | $0.28 | −$0.52 | −$0.73 | $0.53 | $0.73 |
| Growth (year on year) | ||||||||
| Revenue | — | — | — | — | +98.1% | +90.0% | +108.6% | +127.9% |
| EBITDA | — | — | — | — | — | — | — | +140.5% |
| Operating income | — | — | — | — | −229.4% | −276.4% | +63.2% | +217.0% |
| Net income | — | — | — | — | −257.1% | −149.0% | +29.3% | +283.8% |
| Diluted EPS | — | — | — | — | −200.0% | −133.5% | −14.5% | +160.7% |
| Margins | ||||||||
| EBITDA margin | — | — | — | 87.2% | — | — | — | 92.0% |
| Operating margin | 64.5% | 62.9% | 63.3% | 45.5% | −42.1% | −58.4% | 49.5% | 63.2% |
| Net margin | 23.2% | 91.7% | 30.6% | 12.5% | −18.4% | −23.7% | 19.0% | 21.0% |
| Cash flow | ||||||||
| Cash from operations | — | 158 | 201 | 172 | 281 | 399 | 328 | 487 |
| Stock-based pay | 1 | — | 1 | 2 | 2 | — | 2 | 3 |
| Last 12 months unless stated | VNOM | TALO | NOG | CRK | KOS | CNX | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $2.0bn | $2.0bn | $1.9bn | $2.2bn | $1.7bn | $2.6bn | $1.4bn |
| Revenue growth, last 12 months | 107.8% | 2.4% | −25.6% | 31.6% | 20.9% | 47.0% | 11.0% |
| Revenue growth, 3-year average | — | 12.0% | −4.8% | −9.0% | −0.4% | −14.2% | 1.4% |
| Revenue growth, latest quarter | 127.9% | 56.5% | 5.4% | −24.9% | 31.9% | −0.7% | 31.9% |
| Operating margin | 12.3% | −12.7% | −24.1% | 28.8% | — | — | 19.9% |
| Operating margin, 3-year average | — | −1.9% | 17.4% | 12.5% | — | — | 16.5% |
| Net margin | 2.9% | −20.5% | −25.4% | 23.3% | −27.4% | 35.2% | 9.9% |
| Cash from operations / revenue | 73.2% | 39.9% | 72.0% | 37.6% | 28.6% | 42.7% | 42.7% |
| Free-cash-flow margin | — | −8.8% | 75.7% | −33.8% | 28.6% | 18.6% | 19.3% |
| Free-cash-flow margin, 3-year average | — | −5.0% | 66.7% | −34.0% | 28.0% | 19.7% | 19.1% |
| Stock pay / revenue | — | 1.1% | 0.8% | 1.2% | 1.5% | 0.9% | 1.5% |
| Change in share count | — | −5.1% | 0.9% | 0.9% | 15.1% | 1.9% | 0.4% |
| Line of business | Revenue | YoY |
|---|---|---|
| Oil Income | $1.1B | ▲ 50.8% |
| Natural Gas Liquids Income | $159M | ▲ 78.7% |
| Natural Gas Income | $56M | ▲ 273.3% |
These categories overlap or exclude eliminations, so shares aren't shown.
From Viper Energy, Inc.'s 10-K filed February 25, 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.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Capital World Investors | $1.1B | 26.5M | 13.4% | ▲ 10.2% |
| Blackrock, Inc. | $815M | 19.2M | 9.7% | ▲ 10.1% |
| Kimmeridge Energy Management Company, LLC | $665M | 15.7M | 7.9% | New |
| Vanguard Portfolio Management LLC | $384M | 9.1M | 4.6% | ▼ 3.3% |
| Price T Rowe Associates Inc | $379M | 8.9M | 4.5% | ▼ 1.9% |
| Wellington Management Group LLP | $369M | 8.7M | 4.4% | ▼ 25.1% |
| Vanguard Capital Management LLC | $357M | 8.4M | 4.3% | ▼ 2.2% |
| State Street Corp | $321M | 7.6M | 3.8% | ▲ 4.2% |
| Fil Ltd | $239M | 5.6M | 2.9% | ▼ 0.5% |
| D. E. Shaw & Co., Inc. | $232M | 5.5M | 2.8% | ▲ 4.1% |
| Adage Capital Partners Gp, L.L.C. | $230M | 5.4M | 2.7% | ▲ 8.4% |
| Oaktree Capital Management LP | $161M | 3.8M | 1.9% | 0.0% |
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 Viper Energy, Inc.'s complete shareholder register. Values are as reported by the filers .
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.
In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Viper Energy, Inc. shares.
Next expected around February 22, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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