Diamondback Energy, Inc. FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$15.0B
Gross margin	— not reported
Operating income	$1.3B
Net income	$1.7B
Diluted EPS	$5.73
Cash & equivalents	$104.0M
Total assets	$71.1B
Long-term debt	$13.7B

Key takeaway

Diamondback reported $15.03 billion in revenue and $1.66 billion in net income for fiscal 2025, with EPS of $5.73.

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Beneath the surface

Cash of only $104 million against total debt of about $14.5 billion (long-term debt of $13.73 billion plus $763 million current portion) leaves Diamondback with very low on-hand liquidity relative to its debt load, though it likely relies on its revolving credit facility for flexibility.

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