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Viper Energy cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$447M in Q3 2026 · $1.7B over twelve months

Operating cash flow$447M
Free cash flow+$447M
Cash / net income1.5×

Analysis

In Q3 2026, Viper Energy generated $447M of operating cash flow. That is $166M more than in Q3 2025 ($281M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.7B; the largest uses were other financing ($866M), dividends ($463M), other investing ($431M); the cash balance fell by $433M.

Operating cash flow was $447M against net income of $300M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$206M, other operating capital −$52.0M, receivables −$24.0M.

Free cash flow

Viper Energy: free cash flow by quarterViper Energy: free cash flow by quarter$158MQ4 2024$201MQ1 2025$172MQ2 2025$281MQ3 2025$399MQ4 2025$328MQ1 2026$487MQ2 2026$447MQ3 2026
Operating cash flow less capital spending.
Viper Energy: operating cash flow against capital spendingViper Energy: operating cash flow against capital spendingOperating cash flowCapital spending$158M$0Q4 2024$201M$0Q1 2025$172M$0Q2 2025$281M$0Q3 2025$399M$0Q4 2025$328M$0Q1 2026$487M$0Q2 2026$447M$0Q3 2026
Latest (Q3 2026): Operating cash flow $447M, Capital spending $0.

Capital allocation, year by year

Viper Energy: where the cash came from (up) and went (down), by fiscal yearViper Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedDividendsFY2023: Operating cash flow $638MFY2023: Net borrowing $511MFY2023: Dividends −$129M$1.1BFY2023FY2024: Operating cash flow $620MFY2024: Net borrowing −$2.0MFY2024: Shares issued $476MFY2024: Dividends −$219M$1.1BFY2024FY2025: Operating cash flow $1.1BFY2025: Net borrowing $1.1BFY2025: Shares issued $1.2BFY2025: Dividends −$328M$3.4BFY2025
Over these 3 years operating cash flow totalled $2.3B; the largest uses were dividends ($676M) and net borrowing ($2.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$10.0M
Debt$2.4B
Net debt$2.4B
Due within a year$380M

Viper Energy funds itself: free cash flow was $1.7B over the last twelve months, and $10.0M of cash and investments stands against $2.4B of debt ($380M due within a year, 0.0× covered by cash).

Where the cash came from and went

Viper Energy: sources (+) and uses (−) of cash, Q3 2026Viper Energy: sources (+) and uses (−) of cash, Q3 2026Other investing−$842MNet borrowing (+) / repaid (−)$715MOperating cash flow$447MOther financing−$229MDividends−$130MCash drawn (+) / kept (−)$67.0MPartners−$28.0M
Viper Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Viper Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.7BOther financing−$866MDividends−$463MCash drawn (+) / kept (−)$433MOther investing−$431MNet borrowing (+) / repaid (−)−$230MPartners−$104M

From profit to cash

Viper Energy: net income to operating cash flow, Q3 2026Viper Energy: net income to operating cash flow, Q3 2026Net income$300MDepreciation & amortization$206MDeferred taxes−$10.0MReceivables−$24.0MAccrued liabilities−$5.0MOther operating capital−$52.0MOperating cash flow$447M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$447M−$130M$715M—$67.0M$447M
Q2 2026$487M−$133M$75.0M—−$49.0M$487M
Q1 2026$328M−$100M−$585M—−$15.0M$328M
Q4 2025$399M−$100M−$435M—$430M$399M
Q3 2025$281M−$68.0M$1.5B—−$415M$281M
Q2 2025$172M−$75.0M$275M—$532M$172M
Q1 2025$201M−$85.0M−$261M$1.2B−$533M$201M
Q4 2024$158M−$62.0M——$142M$158M

Viper Energy: income statement and cash flow

Viper Energy, Q3 2026: revenue $661M (+58% year over year), operating margin 60.4%. The chart follows the revenue to costs, profit and cash.

Viper Energy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.