Filing Flows

Filing Flows › Diamondback Energy (FANG) › Q2 2026 › vs Q2 2025

Diamondback Energy (FANG) Q2 2026 vs Q2 2025 (year over year)

Diamondback Energy's revenue rose $1.9B (+51%) from $3.7B in Q2 2025 to $5.6B in Q2 2026. Operating margin 45.2% against 31.0% (+14.2 pts).

Diamondback Energy, Q2 2026: revenue $5.6B (+51% year over year), operating margin 45.2%, net earnings $1.9B, operating cash flow $3.6B. The chart draws each line against Q2 2025, the increases inside each band.

Diamondback Energy: what changed, Q2 2026 vs Q2 2025Diamondback Energy: what changed, Q2 2026 vs Q2 2025Free cash flow (OCF − capex)$4.0BCapital expenditures−$2.1BOperating cash flow$1.9BPre-tax earnings$1.7BOperating profit$1.4BNet earnings$1.2BWorking capital & other$744MCosts & expenses$511MOther operating costs$506MIncome tax$376M

Margins

Q2 2026Q2 2025Change
Operating margin45.2%31.0%+14.2 pts
Net margin33.8%19.0%+14.8 pts
Free cash flow margin46.6%-39.4%+86.0 pts

Every line

LineQ2 2026Q2 2025Change%
Revenue$5.6B$3.7B$1.9B+51%
Other income, net$123M−$196M$319M—
Operating profit$2.5B$1.1B$1.4B+121%
Costs & expenses$3.0B$2.5B$511M+20%
Pre-tax earnings$2.6B$943M$1.7B+179%
SG&A$72.0M$67.0M$5.0M+7%
Other operating costs$3.0B$2.5B$506M+20%
Net earnings$1.9B$699M$1.2B+169%
Minority interests$173M$40.0M$133M+332%
Income tax$580M$204M$376M+184%
Depreciation & amortization$1.3B$1.3B$6.0M+0.5%
Working capital & other$435M−$309M$744M—
Operating cash flow$3.6B$1.7B$1.9B+114%
Free cash flow (OCF − capex)$2.6B−$1.4B$4.0B—
Capital expenditures$996M$3.1B−$2.1B-68%

Questions

How much did Diamondback Energy's revenue grow year over year in Q2 2026?

Diamondback Energy's revenue rose $1.9B (+51%) from $3.7B in Q2 2025 to $5.6B in Q2 2026. Operating margin 45.2% against 31.0% (+14.2 pts).

Q2 2026 results → · Compare in the interactive Sankey →