Filing Flows › Diamondback Energy (FANG) › Q3 2025
Diamondback Energy (FANG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Diamondback Energy (FANG) reported revenue of $3.9B for the third quarter 2025 (Q3 2025), +48% from a year earlier and +7% from the quarter before. Operating margin was 31.5%, net earnings $1.0B (25.9% of revenue).
Diamondback Energy, Q3 2025: revenue $3.9B (+48% year over year), operating margin 31.5%, net earnings $1.0B, operating cash flow $2.4B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.9B | +7% | +48% |
| Operating profit | $1.2B | +9% | +74% |
| Net earnings | $1.0B | +46% | +54% |
| Operating cash flow | $2.4B | +42% | +97% |
| Free cash flow | $847M | — | — |
What changed
Revenue was $3.9B in Q3 2025, up 48% year over year and up 7% from the previous quarter.
Operating profit was $1.2B, a 31.5% margin (up 4.7 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 27% margin then. Total costs grew 39% against revenue growth of 48%. The fastest-growing cost line was SG&A (+43%). Net earnings were $1.0B, up 54% year over year. The effective tax rate was 20.9%.
Operating cash flow was $2.4B (up 97% year over year), 220% of net income including minority interests. Non-cash charges added back $1.3B of depreciation and amortization and $0.02B of share-based compensation. Capital expenditures of $1.5B left free cash flow of $0.85B.
Questions
What was Diamondback Energy's revenue in the third quarter 2025?
Diamondback Energy (FANG) reported revenue of $3.9B for the third quarter 2025 (Q3 2025), +48% from a year earlier and +7% from the quarter before.
Was Diamondback Energy profitable in the third quarter 2025?
Operating profit was $1.2B (31.5% of revenue) and net earnings $1.0B.
Source: Diamondback Energy 10-Q on SEC EDGAR.