Short answer
Diamondback Energy (FANG) filed its fiscal 2025 10-K annual report with the SEC on Feb 25, 2026. It reported revenue of $15.0B (+35.8% year over year) and net income of $1.7B.
- Top risk flagged: Impairment of $3.7B recorded in 2025 under full cost ceiling method, triggered by declining oil prices (avg $64.04/Bbl vs $73.52 in 2024)
FY2025 key financial metrics · XBRL
- Revenue
- $15.0B
- +35.8% YoY
- Net income
- $1.7B
- −50.1% YoY
- Operating margin
- 8.4%
- −31.3 pp YoY
- EPS (diluted)
- $5.73
- −63.1% YoY
- ROE
- 4.5%
- −4.3 pp YoY
- Operating cash flow
- $8.8B
- +36.6% YoY
Source: XBRL data from the Diamondback Energy (FANG) FY2025 10-K on SEC EDGAR. USD.
Diamondback Energy FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Section 'business' was empty or not found.
Management Discussion & Analysis
- Total production 336,178 MBOE in 2025 vs 218,972 MBOE in 2024 (+53% YoY); avg realized price $40.02/BOE vs $46.12/BOE (-13% YoY)
- Cash operating costs $10.23/BOE in 2025 vs $11.09/BOE in 2024; DD&A rose to $14.99/BOE vs $13.02/BOE
- Midland Basin dominant segment: 309,335 MBOE (92% of total); Delaware Basin 25,692 MBOE, down from 35,134 MBOE in 2024
- 8,854 gross identified economic drilling locations at $50/Bbl WTI; 79,599 gross acres expiring 2026–2030 represent key acreage risk
- Key risks: oil price decline (WTI ranged $55–$94 from 2023–2025), tariff impacts, produced water disposal restrictions in Permian Basin
Risk Factors
- Impairment of $3.7B recorded in 2025 under full cost ceiling method, triggered by declining oil prices (avg $64.04/Bbl vs $73.52 in 2024)
- Permian Basin-only operations create single-geography concentration risk; all 336,178 MBOE 2025 production from one region
- Texas Railroad Commission produced water disposal restrictions near Midland/Odessa directly threaten Permian drilling economics
- U.S. tariff policy volatility raises input costs and threatens commodity demand with no advance notice to operators
- Endeavor equityholders retain significant influence post-acquisition; no key-person insurance maintained on any executive
Generated from the filing text; verify against the original. How to read a 10-K
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