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Matador Resources (MTDR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Matador Resources (MTDR) Q3 2026 earnings results →
Q3 2026 Revenue up 24% year over year to $1.2B · 15¢ of every $1 of revenue kept as net profit · operating margin 30.4%
Matador Resources made $1.2B in Q3 2026 (+24% Y/Y). Operating margin 30.4%, net earnings $172M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.2B in Q3 2026, up 24% year over year and down 2% from the previous quarter. Oil revenues was the largest line at 91% of revenue. Oil revenues added $0.35B year over year (up 48%), 155% of the total change.
Operating profit was $0.35B, a 30.4% margin (down 2.1 points year over year). Of the extra revenue versus Q3 2025, 21% reached operating profit, below the 33% margin then. Total costs grew 28% against revenue growth of 24%. The fastest-growing cost line was Other operating costs (+28%). Net earnings were $0.17B, down 2% year over year. The effective tax rate was 29.5%.
Operating cash flow was $0.59B (down 18% year over year), 305% of net income including minority interests. Non-cash charges added back $0.34B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.05B. Capital expenditures of $0.43B left free cash flow of $0.16B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $1.2B | +24% | 30.4% | $172M | $594M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $1.2B | +32% | 48.7% | $391M | $937M |
| Q1 2026 | 10-Q | May 8, 2026 | $672M | -34% | 7.0% | −$15.8M | $471M |
| Q4 2025 | 10-K | Feb 26, 2026 | $848M | -13% | 28.6% | $193M | $474M |
| Q3 2025 | 10-Q | Oct 24, 2025 | $939M | +4% | 32.6% | $176M | $722M |
| Q2 2025 | 10-Q | Jul 25, 2025 | $895M | +6% | 32.2% | $150M | $501M |
| Q1 2025 | 10-Q | Apr 28, 2025 | $1.0B | +29% | 38.4% | $240M | $728M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Plains Marketing, L.P — 49% of its revenue · Stated in 10-K (XBRL) · source
- XOM · Stated in 10-K (named, share not stated) · source
- EPD · Stated in 10-K (named, share not stated) · source
About Matador Resources
In this Annual Report, (i) references to “we,” “our” or the “Company” refer to Matador Resources Company and its subsidiaries as a whole (unless the context indicates otherwise), (ii) references to “Matador” refer solely to Matador Resources Company, (iii) references to the “Ameredev Acquisition” refer to the acquisition of Ameredev Stateline II, LLC from affiliates of EnCap Investments L.P., including (a) certain oil and natural gas producing properties and undeveloped acreage located in Lea County, New Mexico and Loving and Winkler Counties, Texas, and (b) an approximate 19% stake in the parent company of Piñon Midstream, LLC, which was completed by a subsidiary of the Company on September 18, 2024, (iv) references to the “Advance Acquisition” refer to the acquisition of Advance Energy Partners Holdings, LLC from affiliates of EnCap Investments L.P., including certain oil and natural g
In its own words, from its 10-K, filed Feb 26, 2026.
Matador Resources against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +24% against the peers' median +46%. Operating margin: 30.4% against the peers' median 30.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MTDR Matador Resources | Q3 2026 | $1.2B | +24% | 30.4% |
| EOG EOG Resources | Q3 2026 | $8.5B | +46% | 41.9% |
| OXY Occidental Petroleum | Q2 2026 | $8.1B | +53% | 48.5% |
| DVN Devon Energy | Q3 2026 | $6.9B | +58% | 18.3% |
| FANG Diamondback Energy | Q3 2026 | $5.4B | +38% | 46.0% |
| EXE Expand Energy | Q3 2026 | $3.3B | +11% | 19.5% |
| PARR PAR Pacific Holdings | Q3 2026 | $3.1B | +52% | 15.5% |
| OVV Ovintiv | Q3 2026 | $2.6B | +26% | 33.7% |
| SM SM Energy | Q3 2026 | $2.2B | +167% | 10.9% |
Source: Matador Resources 10-Q on SEC EDGAR · CIK 1520006 · Crude Petroleum & Natural Gas
Guidance and outlook
13F: who owns MTDR and who is buying
More on MTDR
- How Matador Resources makes money: revenue by segment
- Matador Resources next earnings date and what analysts expect
- Matador Resources stock forecast, price target and fair value
- Who owns Matador Resources stock: holders, funds and Congress trades
- Matador Resources guidance and outlook
- Is Matador Resources a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results