Viper Energy

VNOM

Oil & Gas Midstream · Energy

Price

$45.27

+0.24 (+0.53%)

Market Cap

$16.30B

Exchange

NASDAQ

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

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

How the score breaks down

Quality

Strong

Growth

Mixed

Cash Flow

Good

Stability

Strong

Valuation

Good

Dividends

Strong

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Share count rising — dilution

+108.4% over 4y

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

Diluted shares outstanding: 68.4M (2021) → 142.5M (2025)

Winston Score History

The full picture

Viper Energy is a company that owns mineral and royalty rights on oil and gas land, mostly in the Permian Basin in West Texas and New Mexico. Instead of drilling for oil itself, Viper collects payments from energy companies — like its parent, Diamondback Energy — that actually do the drilling on Viper's land. This makes Viper one of the largest publicly traded mineral rights companies in the United States.

Viper earns money every time oil or natural gas is produced on land where it holds royalty interests, taking a percentage of revenue without having to pay for drilling or operating costs. This low-cost model explains its strong operating margins above 40%. Because it is heavily tied to the Permian Basin, Viper's income rises and falls with oil prices, which is its main risk. Growth depends on acquiring more mineral rights and on operators continuing to actively drill across its acreage.

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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

+129.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+160.7% 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

0.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$77M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Viper Energy grew revenue 129% 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

63.8%

Premium pricing power — 63.8% gross margin

Profit after running costs

Operating Margin

62.2%

Excellent — 62.2% operating margin

Return on the money invested

ROCE

14.3%

Good — 14.3% 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

+103.0%

Fast-growing sales (+103.0% YoY)

Profit growth

EPS YoY

-96.0%

Earnings shrinking (-96.0% 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

2534%

Turns 2534% of profit into real cash

Spare cash per sale

FCF Margin

-175.2%

Burning cash (-175.2%)

Free cash flow is negative. They are burning cash, not generating it.

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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

8.08x

Comfortably covers interest (8.1x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

323.4x

Expensive — P/E 323.4

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

Cheaper or dearer next year

P/E vs Forward

+286.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (323.4 → 37.4)

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Dividends

Dividend

Dividend Yield

5.56%

Healthy income — 5.56% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+3.8%

Dividend growing modestly (3.8% YoY)

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