Filing Flows › Viper Energy (VNOM) › How it makes money
How Viper Energy (VNOM) makes money
Viper Energy (VNOM) made $661M of revenue in the third quarter 2026 (Q3 2026), +58% from a year earlier. Oil income brought in $557M (84%); Natural gas liquids income brought in $80.0M (12%); Natural gas income brought in $19.0M (3%). Of every dollar of revenue, 60¢ was left as operating profit, 21¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Oil income | $557M | 84.3% | -4% | +68% |
| Natural gas liquids income | $80.0M | 12.1% | +7% | +74% |
| Natural gas income | $19.0M | 2.9% | 19× | +27% |
| Other revenues | $5.0M | 0.8% | -74% | -80% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $661M | 100.0% |
| Operating profit | $399M | 60.4% |
| Income tax | $39.0M | 5.9% |
| Net earnings | $140M | 21.2% |
| Operating cash flow | $447M | 67.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $661M | +58% |
| Q2 2026 | $677M | +128% |
| Q1 2026 | $511M | +109% |
| Q4 2025 | $435M | +90% |
| Q3 2025 | $418M | +98% |
From Viper Energy's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Viper Energy make money?
Viper Energy (VNOM) made $661M of revenue in the third quarter 2026 (Q3 2026), +58% from a year earlier. Oil income brought in $557M (84%); Natural gas liquids income brought in $80.0M (12%); Natural gas income brought in $19.0M (3%). Of every dollar of revenue, 60¢ was left as operating profit, 21¢ was left as net earnings.
What is Viper Energy's biggest business?
Oil income: $557M in the third quarter 2026, 84% of revenue, +68% from a year earlier.
What is Viper Energy's profit margin?
Net earnings were $140M, 21.2% of revenue, in the third quarter 2026; the operating margin was 60.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.