Diamondback Energy

FANG

Oil & Gas Exploration & Production · Energy

Price

$210.72

-0.30 (-0.14%)

Market Cap

$59.28B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Mixed

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Good

Dividends

Good

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Share count rising — dilution

+63.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 177.4M (2021) → 289.1M (2025)

Winston Score History

The full picture

Diamondback Energy is an oil and natural gas company that drills for and produces crude oil, natural gas, and natural gas liquids. It sells these raw materials to refiners, pipelines, and energy traders who then turn them into gasoline, jet fuel, and other products. Diamondback operates almost entirely in the Permian Basin in West Texas and New Mexico, one of the most productive oil regions in the United States.

The company makes money by selling the oil and gas it pumps out of the ground, so its revenue rises and falls with commodity prices. Diamondback grew significantly after acquiring Endeavor Energy Resources in 2024, making it one of the largest pure-play Permian Basin producers. Its competitive edge comes from owning high-quality, low-cost acreage in the Permian, which keeps its drilling costs relatively low. The biggest risk the company faces is a sustained drop in oil prices, which would directly shrink its profits and cash flow.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+52.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+181.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

27.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$462M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Diamondback Energy grew revenue 52% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

75.0%

Premium pricing power — 75.0% gross margin

Profit after running costs

Operating Margin

45.2%

Excellent — 45.2% operating margin

Return on the money invested

ROCE

9.4%

Below par — 9.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+22.0%

Fast-growing sales (+22.0% YoY)

Profit growth

EPS YoY

-63.3%

Earnings shrinking (-63.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

577%

Turns 577% of profit into real cash

Spare cash per sale

FCF Margin

38.0%

Converts sales into free cash efficiently (38.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.33

Conservative — low debt load (0.33)

Covers its interest

Interest Cover

17.73x

Comfortably covers interest (17.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

40.8x

Pricey — P/E 40.8

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+28.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (40.8 → 12.4)

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Dividends

Dividend

Dividend Yield

2.02%

Moderate income — 2.02% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+9.0%

Dividend growing modestly (9.0% YoY)

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