Filing Flows › Viper Energy (VNOM) › Q2 2026 › vs Q2 2025
Viper Energy (VNOM) Q2 2026 vs Q2 2025 (year over year)
Viper Energy's revenue rose $380M (+128%) from $297M in Q2 2025 to $677M in Q2 2026. The biggest changes: Oil income +$341M (+141%); Natural gas liquids income +$39.0M (+108%); Natural gas income −$9.0M (-90%). Operating margin 63.2% against 45.5% (+17.8 pts).
Viper Energy, Q2 2026: revenue $677M (+128% year over year), operating margin 63.2%, net earnings $142M, operating cash flow $487M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 63.2% | 45.5% | +17.8 pts |
| Net margin | 21.0% | 12.5% | +8.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Oil income | $582M | $241M | $341M | +141% |
| Natural gas liquids income | $75.0M | $36.0M | $39.0M | +108% |
| Natural gas income | $1.0M | $10.0M | −$9.0M | -90% |
| Other revenues | $19.0M | $10.0M | $9.0M | +90% |
| Revenue | $677M | $297M | $380M | +128% |
| Operating profit | $428M | $135M | $293M | +217% |
| Costs & expenses | $249M | $162M | $87.0M | +54% |
| Pre-tax earnings | $403M | $91.0M | $312M | +343% |
| Other expense, net | $25.0M | $44.0M | −$19.0M | -43% |
| Net earnings | $142M | $37.0M | $105M | +284% |
| Minority interests | $189M | $47.0M | $142M | +302% |
| Income tax | $72.0M | $7.0M | $65.0M | +929% |
| Depreciation & amortization | $195M | $124M | $71.0M | +57% |
| Working capital & other | $150M | $11.0M | $139M | 14× |
| Operating cash flow | $487M | $172M | $315M | +183% |
Questions
How much did Viper Energy's revenue grow year over year in Q2 2026?
Viper Energy's revenue rose $380M (+128%) from $297M in Q2 2025 to $677M in Q2 2026.
What drove Viper Energy's revenue change in Q2 2026?
Oil income +$341M (+141%); Natural gas liquids income +$39.0M (+108%); Natural gas income −$9.0M (-90%).