Filing Flows

Filing Flows › Matador Resources (MTDR) › Q4 2025

Matador Resources (MTDR) Q4 2025 earnings results (fourth quarter 2025)

10-K filed Feb 26, 2026

Matador Resources (MTDR) reported revenue of $848M for the fourth quarter 2025 (Q4 2025), -13% from a year earlier and -10% from the quarter before. Operating margin was 28.6%, net earnings $193M (22.7% of revenue).

Revenue$848M
Year over year-13%
Quarter over quarter-10%
Operating margin28.6%
Net earnings$193M

Matador Resources, Q4 2025: revenue $848M (-13% year over year), operating margin 28.6%, net earnings $193M, operating cash flow $474M. The chart follows the revenue to costs, profit and cash.

Q4 2025AmountQ/QY/Y
Revenue$848M-10%-13%
Operating profit$243M-21%-33%
Net earnings$193M+9%-10%
Operating cash flow$474M-34%-17%
Free cash flow$8.1M-90%-82%

What changed

Revenue was $848.0M in Q4 2025, down 13% year over year and down 10% from the previous quarter. Oil and natural gas revenues was the largest line at 83% of revenue.

Operating profit was $242.7M, a 28.6% margin (down 8.5 points year over year). Total costs fell 1% while revenue fell 13%. Net earnings were $192.5M, down 10% year over year. The effective tax rate was -13.6%.

Operating cash flow was $474.4M (down 17% year over year), 220% of net income including minority interests. Non-cash charges added back $305.5M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items used $50.3M. Capital expenditures of $466.4M left free cash flow of $8.1M.

Questions

What was Matador Resources' revenue in the fourth quarter 2025?

Matador Resources (MTDR) reported revenue of $848M for the fourth quarter 2025 (Q4 2025), -13% from a year earlier and -10% from the quarter before.

Was Matador Resources profitable in the fourth quarter 2025?

Operating profit was $243M (28.6% of revenue) and net earnings $193M.

Open the interactive Sankey →

Source: Matador Resources 10-K on SEC EDGAR.