A Business at a Glance
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Viper Energy, Inc.
VNOM
$6.5B
Mkt Cap
$45.13
-0.02%
Viper Energy, Inc. (VNOM) has a 5-year average return on invested capital (ROIC) of 13.6%. This indicates solid capital allocation.
Viper Energy, Inc. (VNOM) has a market capitalization of $6.5B. It is classified as a mid-cap stock.
Yes, Viper Energy, Inc. (VNOM) pays a dividend with a trailing twelve-month yield of 5.06%. The company also returns capital through share buybacks, with a buyback yield of 2.36%.
Viper Energy, Inc. (VNOM) operates in the Crude Petroleum & Natural Gas industry, within the Energy sector.
Viper Energy, Inc. (VNOM) reported annual revenue of $1.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Viper Energy, Inc. (VNOM) has a net profit margin of -4.9%. The company is currently unprofitable.
Viper Energy, Inc. (VNOM) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Viper Energy is a mineral and royalty company operating primarily in the Permian Basin, earning revenue through oil and gas production royalties on acreage where third-party operators and Diamondback Energy conduct drilling and development activities. The company's business model is asset-light and capital-efficient, generating cash flow from existing mineral and royalty interests without significant operating costs or capital expenditures, and returns substantially all available cash to shareholders through a base plus variable dividend and opportunistic share repurchases. Viper's competitive moat derives from its concentrated high-quality mineral and royalty interests, particularly a strategic relationship with Diamondback Energy that provides expected 5–7% net revenue interest in Diamondback's wells over the next five years, combined with broad exposure to leading third-party operators across both the Midland and Delaware Basins where the company captures approximately half of all third-party activity. The company's customers are oil and gas operators developing acreage in the Permian Basin, and its geographic footprint is concentrated in the Permian Basin with non-Permian assets being divested. Viper's unit economics benefit from the royalty structure, which provides leverage to commodity prices and operator activity levels while maintaining minimal operating leverage.
【Organic growth acceleration ahead】 Management expects mid-single-digit organic oil production growth in 2026 from the Q4 2025 exit rate, with the first quarter 2026 results and strong operator activity supporting an upward revision to full-year production guidance of approximately 2.5% at the midpoint. The company anticipates that Diamondback's acceleration of near-term activity and continued development of Viper's high-concentration royalty interests will drive growth, while third-party operator activity remains resilient despite broader Permian rig count declines, with potential for additional upside if current activity levels persist. Management is pursuing a differentiated inorganic growth strategy through acquisitions while maintaining flexibility on capital allocation, and expects to reach its $1.5 billion net debt target in the near term, after which it will return nearly 100% of cash available for distribution to stockholders through dividends and opportunistic buybacks. The company remains confident in its long-term production growth trajectory and per-share metrics expansion, supported by the depth of inventory from recent acquisitions and the quality of its operator relationships.
| Metric | Target | Period |
|---|---|---|
| Oil production guidance (full year 2026) | Mid-single-digit organic growth from Q4 2025 exit rate | FY2026 |
| Oil production per share (full year 2026) | Approximately 15% higher than full-year 2025 | FY2026 |
| Net debt target | $1.5 billion | Long-term |
Oil production guidance (full year 2026) (FY2026): “we are increasing the midpoint of our full year oil production guidance by roughly 2.5%”
Oil production per share (full year 2026) (FY2026): “we would expect our oil production per share for full-year 2026 to be approximately 15% higher than full-year 2025”
Net debt target (Long-term): “our pro forma net debt target is $1.5 billion, which represents approximately one turn of leverage at $50 WTI based on expected pro forma production levels”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Revenue | 1.4B | 1.4B | 861M | 828M |
| Net Income | -69M | -69M | 359M | 200M |
| EPS | $-0.48 | $-0.48 | $3.82 | $2.69 |
| Free Cash Flow | 1.1B | 1.1B | 620M | 638M |
| ROIC | -1.7% | -1.5% | 20.3% | 22.0% |
| Gross Margin | - | - | - | - |
| Debt/Equity | 0.49 | 0.49 | 0.64 | 0.00 |
| Dividends/Share | $2.28 | $2.28 | $2.33 | $1.74 |
| Operating Income | -140M | -140M | 567M | 620M |
| Operating Margin | -10.0% | -10.0% | 65.9% | 74.9% |
| ROE | -1.6% | -2.2% | 15.8% | 7.7% |
| Shares Outstanding | 144M | 144M | 94M | 74M |
| Metric | ||||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 828M | 861M | 1.4B | 1.4B |
| Gross Margin | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | 620M | 567M | -140M | -140M |
| Op. Margin | 74.9% | 65.9% | -10.0% | -10.0% |
| Net Income | 200M | 359M | -69M | -69M |
| Net Margin | 24.2% | 41.7% | -4.9% | -4.9% |
| Non-Recurring | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | 22.0% | 20.3% | -1.5% | -1.7% |
| ROE | 7.7% | 15.8% | -2.2% | -1.6% |
| ROA | N/A | 14.2% | -0.8% | -0.5% |
| Cash Flow | ||||
| Op. Cash Flow | 638M | 620M | 1.1B | 1.1B |
| Free Cash Flow | 638M | 620M | 1.1B | 1.1B |
| Owner Earnings | 637M | -344M | -521M | -521M |
| CapEx | 0 | 0 | 0 | 0 |
| Maint. CapEx | 0 | 961M | 1.6B | 1.6B |
| Growth CapEx | N/A | N/A | N/A | 0 |
| D&A | 0 | 961M | 1.6B | 1.6B |
| CapEx/OCF | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 129M | 219M | 328M | 328M |
| Dividend Yield | N/A | 6.0% | 5.8% | 5.1% |
| Share Buybacks | 95M | 0 | 153M | 153M |
| Buyback Yield | 0.0% | N/A | 1.1% | 2.4% |
| Stock-Based Comp | 1.0M | 3.0M | 7.0M | 7.0M |
| Debt Repayment | 462M | 844M | 2.2B | 2.2B |
| Balance Sheet | ||||
| Net Debt | N/A | 1.1B | 2.2B | 2.2B |
| Cash & Equiv. | 8.0M | 27M | 13M | 13M |
| Long-Term Debt | N/A | 1.1B | 2.2B | 2.2B |
| Debt/Equity | 0.00 | 0.64 | 0.49 | 0.49 |
| Interest Coverage | 620.0 | 283.5 | -46.7 | -46.7 |
| Equity | 2.9B | 1.7B | 4.4B | 4.4B |
| Total Assets | N/A | 5.1B | 12.7B | 12.7B |
| Total Liabilities | 6.0M | 1.2B | 2.3B | 2.3B |
| Intangibles | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 118M | -278M | -278M |
| Working Capital | N/A | 189M | 302M | 302M |
| Current Assets | N/A | 238M | 413M | 413M |
| Current Liabilities | N/A | 49M | 111M | 111M |
| Per Share Data | ||||
| EPS | 2.69 | 3.82 | -0.48 | -0.48 |
| Owner EPS | 8.57 | -3.66 | -3.62 | -3.62 |
| Book Value | 38.43 | 17.95 | 30.94 | 30.94 |
| Cash Flow/Share | 8.58 | 6.60 | 7.33 | 10.42 |
| Dividends/Share | 1.74 | 2.33 | 2.28 | 2.28 |
| Shares Out. | 74.3M | 94.0M | 143.8M | 143.8M |
| Valuation | ||||
| P/E Ratio | N/A | 11.9 | N/A | -94.0 |
| P/FCF | N/A | 6.9 | 5.2 | 6.2 |
| EV/EBIT | N/A | 30.4 | N/A | N/A |
| Price/Book | N/A | 9.6 | 3.1 | 1.5 |
| Price/Sales | N/A | 16.0 | 10.2 | 4.7 |
| FCF Yield | N/A | 3.8% | 7.7% | 16.2% |
| Market Cap | 0 | 16.2B | 13.6B | 6.5B |
| Avg. Price | 0.00 | 38.54 | 39.62 | 45.13 |
| Year-End Price | 0.00 | 45.34 | 38.11 | 45.13 |
Viper Energy, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 15.3x vs a median of 6.0x. The company's 5-year average ROIC is 13.6%. Total shareholder yield (dividends + buybacks) is 7.4%. At current prices, the estimated annualized return to fair value is +5.0%.
Viper Energy, Inc. (VNOM) has a debt-to-equity ratio of 0.49. This indicates a conservatively financed balance sheet.
Viper Energy, Inc. (VNOM) reported earnings per share (EPS) of $-0.48 in its most recent fiscal year.
Viper Energy, Inc. (VNOM) has a return on equity (ROE) of -2.2%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 3 years of financial data for Viper Energy, Inc. (VNOM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Viper Energy, Inc. (VNOM) has a book value per share of $30.94, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects mid-single-digit organic oil production growth in 2026 from the Q4 2025 exit rate, with the first quarter 2026 results and strong operator activity supporting an upward revision to full-year production guidance of approximately 2.5% at the midpoint. The company anticipates that Diamondback's acceleration of near-term activity and continued development of Viper's high-concentration royalty interests will drive growth, while third-party operator activity remains resilient despite broader Permian rig count declines, with potential for additional upside if current activity levels persist. Management is pursuing a differentiated inorganic growth strategy through acquisitions while maintaining flexibility on capital allocation, and expects to reach its $1.5 billion net debt target in the near term, after which it will return nearly 100% of cash available for distribution to stockholders through dividends and opportunistic buybacks. The company remains confident in its long-term production growth trajectory and per-share metrics expansion, supported by the depth of inventory from recent acquisitions and the quality of its operator relationships.
Based on recent SEC filings and earnings calls, Viper Energy, Inc. (VNOM) has provided the following forward guidance: Oil production guidance (full year 2026): Mid-single-digit organic growth from Q4 2025 exit rate (FY2026); Oil production per share (full year 2026): Approximately 15% higher than full-year 2025 (FY2026); Net debt target: $1.5 billion (Long-term).