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Viper Energy share price today

Viper Energy, Inc. · VNOM · Energy · Oil & Gas Midstream · price as of the 4 November 2026 close, updated every trading day · results updated weekly · All US stock lists

Viper Energy share price: $41.06 at the close on 4 November 2026, +9.3% in a year.

Getting worseBusiness trend from the last 12 quarters
$41.06Price +9.3% in a year
27.6×P/E over 3 years
$639 MRevenue (Jun 2026) +115.2% on a year ago
$142 MProfit (Jun 2026) +283.8% on a year ago
67.0%Operating margin +31.3 points on a year ago
−1%ROE FY25
8.4%ROIC against a 5.7% cost of capital: +2.7 points

Viper Energy, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer.

The main question: the share price moved +9.3% in a year while yearly earnings per share moved −112.7%. The difference came from the market paying a higher multiple.

The price has been moving sideways for 1 weeks. Over the last four quarters, results have been improving, with profit +283.8% on a year earlier, and 275% of the last 3 years' profit came in as cash. What will decide it: whether earnings grow into a price that has already moved.

What is the Viper Energy share price today?

Viper Energy, Inc.'s share price was $41.06 at the close on 4 November 2026. It has been moving sideways for 1 week. That is 7.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between $36 and $50, and at that close it sat 36% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Viper Energy, Inc. is in stage 1. The phase helps read everything below.

Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 3 weeks in a row.

1Y

Nov 2026: $41.06, 7.8% below its 200-day average. The price has been moving sideways for 1 week.

  • Price $41.06
  • 50-day avg $43.78
  • 200-day avg $44.52
Nov 2026: $41.06, 7.8% below its 200-day average. The price has been moving sideways for 1 week.
WeekPrice50-day avg200-day avg
31 Oct 2025$37.56$38.09$40.90
7 Nov 2025$37.55$37.86$40.58
14 Nov 2025$37.95$37.77$40.35
21 Nov 2025$35.99$37.55$40.04
28 Nov 2025$36.53$37.42$39.76
5 Dec 2025$40.65$37.49$39.49
12 Dec 2025$40.34$37.67$39.35
19 Dec 2025$37.91$37.70$39.21
26 Dec 2025$38.11$37.82$39.15
2 Jan 2026$38.78$37.98$39.06
9 Jan 2026$36.54$37.91$38.85
16 Jan 2026$36.94$37.91$38.66
23 Jan 2026$39.63$38.04$38.62
30 Jan 2026$42.34$38.39$38.71
6 Feb 2026$42.89$38.98$38.77
13 Feb 2026$44.25$39.66$38.83
20 Feb 2026$45.64$40.04$38.90
27 Feb 2026$46.54$40.58$39.02
6 Mar 2026$44.10$41.22$39.10
13 Mar 2026$44.25$41.77$39.19
20 Mar 2026$48.09$42.70$39.35
27 Mar 2026$47.85$43.76$39.52
2 Apr 2026$46.47$44.46$39.61
10 Apr 2026$45.12$45.04$39.75
17 Apr 2026$45.40$45.44$39.95
24 Apr 2026$47.57$45.85$40.19
1 May 2026$49.90$46.29$40.47
8 May 2026$46.79$46.59$40.74
15 May 2026$48.98$46.86$40.99
22 May 2026$46.89$47.26$41.25
29 May 2026$45.50$47.23$41.40
5 Jun 2026$45.46$47.08$41.61
12 Jun 2026$44.38$46.86$41.77
18 Jun 2026$43.21$46.63$41.84
26 Jun 2026$42.57$46.42$41.97
2 Jul 2026$40.75$46.03$42.04
10 Jul 2026$42.03$45.44$42.14
17 Jul 2026$44.38$44.81$42.25
24 Jul 2026$45.13$44.57$42.41
31 Jul 2026$44.61$44.04$42.55
7 Aug 2026$40.82$43.59$42.68
14 Aug 2026$42.29$43.23$42.80
21 Aug 2026$45.27$43.09$42.97
28 Aug 2026$44.18$43.16$43.16
4 Sep 2026$44.39$43.30$43.34
11 Sep 2026$44.71$43.53$43.51
18 Sep 2026$42.27$43.76$43.69
25 Sep 2026$40.93$43.56$43.73
2 Oct 2026$40.64$43.12$43.73
9 Oct 2026$42.99$42.96$43.82
16 Oct 2026$45.02$43.11$43.96
23 Oct 2026$46.94$43.50$44.17
30 Oct 2026$47.68$43.84$44.42
4 Nov 2026$41.06$43.78$44.52
Weekly closing price ($) with its 50-day and 200-day averages. The strip under the chart shows the phase: tan sideways, green rising, yellow stalling near a high, orange falling. 1-year window.

3Y

Nov 2026: $41.06, 7.8% below its 200-day average. The price has been moving sideways for 1 week.

  • Price $41.06
  • 50-day avg $43.78
  • 200-day avg $44.52
Nov 2026: $41.06, 7.8% below its 200-day average. The price has been moving sideways for 1 week.
WeekPrice50-day avg200-day avg
17 Nov 2023$30.41––
24 Nov 2023$31.01––
1 Dec 2023$30.66––
8 Dec 2023$30.14––
15 Dec 2023$30.54––
22 Dec 2023$31.45––
29 Dec 2023$31.38––
5 Jan 2024$31.43––
12 Jan 2024$31.33––
19 Jan 2024$30.74––
26 Jan 2024$31.32$30.80–
2 Feb 2024$31.25$30.92–
9 Feb 2024$31.71$31.02–
16 Feb 2024$35.40$31.33–
23 Feb 2024$36.02$31.82–
1 Mar 2024$36.63$32.37–
8 Mar 2024$35.18$32.82–
15 Mar 2024$35.83$33.25–
22 Mar 2024$37.59$33.85–
28 Mar 2024$38.46$34.40–
5 Apr 2024$39.24$35.18–
12 Apr 2024$40.40$36.07–
19 Apr 2024$39.04$36.86–
26 Apr 2024$39.71$37.59–
3 May 2024$37.62$37.83–
10 May 2024$37.79$38.00–
17 May 2024$37.67$38.08–
24 May 2024$37.82$38.30–
31 May 2024$38.46$38.43–
7 Jun 2024$36.41$38.30–
14 Jun 2024$35.93$38.21–
21 Jun 2024$35.98$37.93–
28 Jun 2024$37.53$37.68–
5 Jul 2024$38.99$37.65–
12 Jul 2024$39.63$37.66–
19 Jul 2024$42.93$38.10–
26 Jul 2024$42.30$38.58–
2 Aug 2024$40.25$38.98–
9 Aug 2024$45.42$39.54–
16 Aug 2024$46.85$40.51–
23 Aug 2024$47.41$41.46–
30 Aug 2024$47.60$42.61$36.74
6 Sep 2024$45.60$43.36$37.06
13 Sep 2024$42.97$43.98$37.41
20 Sep 2024$45.66$44.53$37.77
27 Sep 2024$44.86$45.03$38.18
4 Oct 2024$50.22$45.54$38.60
11 Oct 2024$52.09$46.43$39.08
18 Oct 2024$51.29$47.31$39.58
25 Oct 2024$52.33$47.87$40.10
1 Nov 2024$52.16$48.37$40.62
8 Nov 2024$54.45$48.98$41.20
15 Nov 2024$50.84$49.55$41.72
22 Nov 2024$56.55$50.52$42.29
29 Nov 2024$54.11$51.27$42.72
6 Dec 2024$51.01$51.93$43.16
13 Dec 2024$51.19$52.38$43.53
20 Dec 2024$47.64$52.22$43.85
27 Dec 2024$48.05$51.96$44.10
3 Jan 2025$51.07$51.78$44.36
10 Jan 2025$49.65$51.63$44.61
17 Jan 2025$51.37$51.53$44.94
24 Jan 2025$47.66$51.10$45.14
31 Jan 2025$46.90$50.53$45.30
7 Feb 2025$49.38$50.02$45.55
14 Feb 2025$49.41$49.63$45.81
21 Feb 2025$48.33$49.42$46.06
28 Feb 2025$46.57$48.92$46.26
7 Mar 2025$41.36$48.33$46.41
14 Mar 2025$43.30$47.68$46.51
21 Mar 2025$44.23$47.11$46.67
28 Mar 2025$44.19$46.56$46.88
4 Apr 2025$37.64$45.86$47.03
11 Apr 2025$37.58$44.95$47.05
17 Apr 2025$41.37$44.20$47.08
25 Apr 2025$41.58$43.25$47.11
2 May 2025$42.08$42.39$47.15
9 May 2025$40.57$41.82$47.10
16 May 2025$41.36$41.61$47.10
23 May 2025$39.67$41.53$47.08
30 May 2025$39.69$41.22$46.97
6 Jun 2025$41.33$40.77$46.81
13 Jun 2025$42.52$40.43$46.68
20 Jun 2025$40.72$40.65$46.54
27 Jun 2025$38.22$40.71$46.35
3 Jul 2025$38.05$40.56$46.23
11 Jul 2025$38.57$40.17$46.05
18 Jul 2025$38.71$39.82$45.83
25 Jul 2025$37.91$39.47$45.59
1 Aug 2025$36.60$39.07$45.25
8 Aug 2025$37.81$38.83$44.91
15 Aug 2025$37.79$38.61$44.56
22 Aug 2025$38.99$38.25$44.21
29 Aug 2025$39.84$38.05$43.85
5 Sep 2025$37.28$38.01$43.56
12 Sep 2025$38.57$38.02$43.20
19 Sep 2025$37.40$38.06$42.78
26 Sep 2025$39.71$38.20$42.43
3 Oct 2025$39.01$38.26$42.12
10 Oct 2025$36.59$38.28$41.85
17 Oct 2025$36.35$38.19$41.56
24 Oct 2025$37.26$38.12$41.24
31 Oct 2025$37.56$38.09$40.90
7 Nov 2025$37.55$37.86$40.58
14 Nov 2025$37.95$37.77$40.35
21 Nov 2025$35.99$37.55$40.04
28 Nov 2025$36.53$37.42$39.76
5 Dec 2025$40.65$37.49$39.49
12 Dec 2025$40.34$37.67$39.35
19 Dec 2025$37.91$37.70$39.21
26 Dec 2025$38.11$37.82$39.15
2 Jan 2026$38.78$37.98$39.06
9 Jan 2026$36.54$37.91$38.85
16 Jan 2026$36.94$37.91$38.66
23 Jan 2026$39.63$38.04$38.62
30 Jan 2026$42.34$38.39$38.71
6 Feb 2026$42.89$38.98$38.77
13 Feb 2026$44.25$39.66$38.83
20 Feb 2026$45.64$40.04$38.90
27 Feb 2026$46.54$40.58$39.02
6 Mar 2026$44.10$41.22$39.10
13 Mar 2026$44.25$41.77$39.19
20 Mar 2026$48.09$42.70$39.35
27 Mar 2026$47.85$43.76$39.52
2 Apr 2026$46.47$44.46$39.61
10 Apr 2026$45.12$45.04$39.75
17 Apr 2026$45.40$45.44$39.95
24 Apr 2026$47.57$45.85$40.19
1 May 2026$49.90$46.29$40.47
8 May 2026$46.79$46.59$40.74
15 May 2026$48.98$46.86$40.99
22 May 2026$46.89$47.26$41.25
29 May 2026$45.50$47.23$41.40
5 Jun 2026$45.46$47.08$41.61
12 Jun 2026$44.38$46.86$41.77
18 Jun 2026$43.21$46.63$41.84
26 Jun 2026$42.57$46.42$41.97
2 Jul 2026$40.75$46.03$42.04
10 Jul 2026$42.03$45.44$42.14
17 Jul 2026$44.38$44.81$42.25
24 Jul 2026$45.13$44.57$42.41
31 Jul 2026$44.61$44.04$42.55
7 Aug 2026$40.82$43.59$42.68
14 Aug 2026$42.29$43.23$42.80
21 Aug 2026$45.27$43.09$42.97
28 Aug 2026$44.18$43.16$43.16
4 Sep 2026$44.39$43.30$43.34
11 Sep 2026$44.71$43.53$43.51
18 Sep 2026$42.27$43.76$43.69
25 Sep 2026$40.93$43.56$43.73
2 Oct 2026$40.64$43.12$43.73
9 Oct 2026$42.99$42.96$43.82
16 Oct 2026$45.02$43.11$43.96
23 Oct 2026$46.94$43.50$44.17
30 Oct 2026$47.68$43.84$44.42
4 Nov 2026$41.06$43.78$44.52
Weekly closing price ($) with its 50-day and 200-day averages. The strip under the chart shows the phase: tan sideways, green rising, yellow stalling near a high, orange falling. 3-year window.

Price stage: Falling from Oct 2025 to Jan 2026; Sideways from Jan 2026 to May 2026; Rising from May 2026 to Sep 2026; Sideways from Sep 2026 to Oct 2026; Rising from Oct 2026 to Nov 2026.

Price stage: Sideways from Mar 2025 to Aug 2025; Falling from Aug 2025 to Jan 2026; Sideways from Jan 2026 to May 2026; Rising from May 2026 to Sep 2026; Sideways from Sep 2026 to Oct 2026; Rising from Oct 2026 to Nov 2026.

Week by week since 2023: did it beat the S&P 500 over the past 13 weeks?

Ahead in 59 of 143 weeks

Week by week since 2023: did it beat the S&P 500 over the past 13 weeks?
Week13-week return vs S&P 500
17 Nov 2023no S&P 500 reading
24 Nov 2023no S&P 500 reading
1 Dec 2023no S&P 500 reading
8 Dec 2023no S&P 500 reading
15 Dec 2023no S&P 500 reading
22 Dec 2023no S&P 500 reading
29 Dec 2023no S&P 500 reading
5 Jan 2024no S&P 500 reading
12 Jan 2024no S&P 500 reading
19 Jan 2024no S&P 500 reading
26 Jan 2024no S&P 500 reading
2 Feb 2024no S&P 500 reading
9 Feb 2024no S&P 500 reading
16 Feb 2024+5.6%
23 Feb 2024+4.6%
1 Mar 2024+7.8%
8 Mar 2024+5.5%
15 Mar 2024+8.7%
22 Mar 2024+9.5%
28 Mar 2024+12.5%
5 Apr 2024+14.1%
12 Apr 2024+21.8%
19 Apr 2024+24.4%
26 Apr 2024+22.5%
3 May 2024+17.0%
10 May 2024+15.3%
17 May 2024+0.4%
24 May 2024+0.7%
31 May 2024+2.2%
7 Jun 2024−0.9%
14 Jun 2024−6.2%
21 Jun 2024−8.8%
28 Jun 2024−6.5%
5 Jul 2024−7.6%
12 Jul 2024−11.5%
19 Jul 2024−0.9%
26 Jul 2024−0.6%
2 Aug 2024+2.8%
9 Aug 2024+17.9%
16 Aug 2024+19.7%
23 Aug 2024+19.2%
30 Aug 2024+16.9%
6 Sep 2024+24.1%
13 Sep 2024+16.1%
20 Sep 2024+22.5%
27 Sep 2024+14.5%
4 Oct 2024+25.5%
11 Oct 2024+27.9%
18 Oct 2024+13.0%
25 Oct 2024+17.4%
1 Nov 2024+22.4%
8 Nov 2024+7.6%
15 Nov 2024+2.8%
22 Nov 2024+13.3%
29 Nov 2024+6.8%
6 Dec 2024−0.6%
13 Dec 2024+11.6%
20 Dec 2024+0.3%
27 Dec 2024+3.0%
3 Jan 2025−1.6%
10 Jan 2025−4.8%
17 Jan 2025−2.1%
24 Jan 2025−13.9%
31 Jan 2025−15.5%
7 Feb 2025−9.7%
14 Feb 2025−6.9%
21 Feb 2025−15.3%
28 Feb 2025−12.5%
7 Mar 2025−13.7%
14 Mar 2025−8.6%
21 Mar 2025−2.6%
28 Mar 2025−1.4%
4 Apr 2025−11.7%
11 Apr 2025−16.3%
17 Apr 2025−7.6%
25 Apr 2025−3.3%
2 May 2025−4.5%
9 May 2025−11.8%
16 May 2025−13.8%
23 May 2025−14.4%
30 May 2025−14.0%
6 Jun 2025−4.1%
13 Jun 2025−7.9%
20 Jun 2025−13.3%
27 Jun 2025−24.2%
3 Jul 2025−22.7%
11 Jul 2025−14.2%
18 Jul 2025−25.6%
25 Jul 2025−24.5%
1 Aug 2025−22.7%
8 Aug 2025−19.7%
15 Aug 2025−16.9%
22 Aug 2025−13.1%
29 Aug 2025−9.1%
5 Sep 2025−17.8%
12 Sep 2025−19.4%
19 Sep 2025−19.8%
26 Sep 2025−3.7%
3 Oct 2025−4.5%
10 Oct 2025−9.8%
17 Oct 2025−12.0%
24 Oct 2025−8.0%
31 Oct 2025−7.1%
7 Nov 2025−6.0%
14 Nov 2025−4.0%
21 Nov 2025−9.8%
28 Nov 2025−14.3%
5 Dec 2025+3.1%
12 Dec 2025+0.9%
19 Dec 2025−1.2%
26 Dec 2025−8.3%
2 Jan 2026−2.7%
9 Jan 2026−6.4%
16 Jan 2026−2.5%
23 Jan 2026+4.6%
30 Jan 2026+11.3%
6 Feb 2026+11.3%
13 Feb 2026+15.1%
20 Feb 2026+22.2%
27 Feb 2026+27.0%
6 Mar 2026+10.4%
13 Mar 2026+12.5%
20 Mar 2026+31.6%
27 Mar 2026+33.7%
2 Apr 2026+23.8%
10 Apr 2026+25.6%
17 Apr 2026+20.2%
24 Apr 2026+16.5%
1 May 2026+13.7%
8 May 2026+2.3%
15 May 2026+2.3%
22 May 2026−5.4%
29 May 2026−12.5%
5 Jun 2026−6.6%
12 Jun 2026−11.7%
18 Jun 2026−25.3%
26 Jun 2026−26.0%
2 Jul 2026−25.9%
10 Jul 2026−18.0%
17 Jul 2026−6.9%
24 Jul 2026−8.6%
31 Jul 2026−14.3%
7 Aug 2026−17.6%
14 Aug 2026−18.7%
21 Aug 2026−6.1%
28 Aug 2026−4.6%
4 Sep 2026−6.8%
11 Sep 2026−2.3%
18 Sep 2026−4.2%
25 Sep 2026−9.7%
2 Oct 2026−3.6%
9 Oct 2026−0.8%
16 Oct 2026−1.2%
23 Oct 2026+1.2%
30 Oct 2026+5.7%
4 Nov 2026+1.4%
Each bar is one week, from 2023 to now (143 weeks with a reading). Green means the stock's return over the previous 13 weeks beat the S&P 500; red means it trailed. The colour is strongest at a gap of 25 percentage points or more. A gap means there is no reading for that week.

Over the last 3 years the share price moved +35% while the S&P 500 moved +70%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

What dividend does Viper Energy pay?

Viper Energy, Inc. paid $2.45 per share over the last four reported quarters. The most recent declaration was $0.67 for Jun 2026. At today's price of $41.06 that is a yield of 5.97%, based on dividends already paid, not a forecast.

A dividend is cash paid out for each share. The 12-month total is the four most recent quarters added together.

Dividend per share each quarter: latest $0.67 (Jun 2026)

  • Dividend per share $0.67
Dividend per share each quarter: latest $0.67 (Jun 2026)
QuarterDividend per share
Sep 2023$0.57
Mar 2024$0.59
Jun 2024$0.64
Sep 2024$0.61
Dec 2024$0.65
Mar 2025$0.57
Jun 2025$0.53
Sep 2025$0.58
Dec 2025$0.52
Mar 2026$0.68
Jun 2026$0.67
Declared dividend per share, $ a share, each reported quarter. 11 quarters on file.

Which stock lists is Viper Energy on?

Viper Energy is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list.

Is Viper Energy profitable?

Viper Energy, Inc. earned $142 M of net profit in the Jun 2026 quarter, +283.8% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. The full FY25 year was a loss of $69.0 M. That is 22.2% of the quarter's revenue. The same quarter a year earlier earned $37.0 M.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

2 of the last 12 reported quarters were loss-making.

For the full year, FY25 profit was −$69.0 M (−119.2% on the year before).

FY25 profit −$69.0 M (−119.2% on the year before)

  • Net profit −$69.0 M
FY25 profit −$69.0 M (−119.2% on the year before)
QuarterNet profit
FY21$57.7 M
FY22$152 M
FY23$200 M
FY24$359 M
FY25−$69.0 M

Growth on a year earlier

  • Growth on a year earlier −119.2%
Growth on a year earlier
QuarterGrowth on a year earlier
FY21–
FY22162.7%
FY2331.9%
FY2479.5%
FY25−119.2%
Top: net profit each year, $ M. Below: growth on the year before, %. 5-year window. A grey bar is lower than the year before.

Jun 2026: $142 M (+283.8% on a year earlier), the 2nd quarter in a row of growth

  • Net profit (quarterly) $142 M
Jun 2026: $142 M (+283.8% on a year earlier), the 2nd quarter in a row of growth
QuarterNet profit (quarterly)
Sep 2023$78.5 M
Dec 2023$57.2 M
Mar 2024$43.0 M
Jun 2024$57.0 M
Sep 2024$49.0 M
Dec 2024$210 M
Mar 2025$75.0 M
Jun 2025$37.0 M
Sep 2025−$78.0 M
Dec 2025−$103 M
Mar 2026$97.0 M
Jun 2026$142 M

Growth on a year earlier

  • Growth on a year earlier 283.8%
Growth on a year earlier
QuarterGrowth on a year earlier
Sep 2023−0.9%
Dec 2023164.4%
Mar 202426.8%
Jun 202486.9%
Sep 2024−37.5%
Dec 2024266.9%
Mar 202574.4%
Jun 2025−35.1%
Sep 2025−259.2%
Dec 2025−149%
Mar 202629.3%
Jun 2026283.8%
Top: net profit each quarter, $ M. Below: growth on the same quarter a year earlier, %. Last 12 quarters. A grey bar is lower than the quarter before.

Why profit moved: revenue changed +115.2% on a year earlier and the margin moved +31.3 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed −23.8% and revenue +104.3%. Profit is growing slower than sales: rising costs are taking part of the growth.

How much revenue does Viper Energy make, and is it growing?

Viper Energy, Inc. reported $639 M of revenue in the Jun 2026 quarter, +115.2% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 4 years it has grown 27.3% a year on average. The last full year, FY25, came in at $1.3 B.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to $1.9 B.

FY25 revenue was $1.3 B, +62.2% on the year before.

FY25 revenue $1.3 B (+62.2% on the year before), 27.3% a year over 4 years

  • Revenue $1.3 B
FY25 revenue $1.3 B (+62.2% on the year before), 27.3% a year over 4 years
QuarterRevenue
FY21$504 M
FY22$866 M
FY23$827 M
FY24$817 M
FY25$1.3 B

Growth on a year earlier

  • Growth on a year earlier 62.2%
Growth on a year earlier
QuarterGrowth on a year earlier
FY21–
FY2271.7%
FY23−4.5%
FY24−1.2%
FY2562.2%
Top: revenue each year, $ B. Below: growth on the year before, %. 5-year window. A grey bar is lower than the year before.

Jun 2026: $639 M (+115.2% on a year earlier), the 7th quarter in a row of growth

  • Revenue (quarterly) $639 M
Jun 2026: $639 M (+115.2% on a year earlier), the 7th quarter in a row of growth
QuarterRevenue (quarterly)
Sep 2023$293 M
Dec 2023$194 M
Mar 2024$184 M
Jun 2024$206 M
Sep 2024$210 M
Dec 2024$217 M
Mar 2025$218 M
Jun 2025$297 M
Sep 2025$399 M
Dec 2025$411 M
Mar 2026$485 M
Jun 2026$639 M

Growth on a year earlier

  • Growth on a year earlier 115.2%
Growth on a year earlier
QuarterGrowth on a year earlier
Sep 202337.2%
Dec 20230.2%
Mar 202420.6%
Jun 202436.7%
Sep 2024−28.3%
Dec 202411.6%
Mar 202518.5%
Jun 202544.2%
Sep 202590%
Dec 202589.4%
Mar 2026122.5%
Jun 2026115.2%
Top: revenue each quarter, $ M. Below: growth on the same quarter a year earlier, %. Last 12 quarters. A grey bar is lower than the quarter before.

Recent pace: the last four quarters grew +104.3% on average, against 27.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +105.3%, against +48.5% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −84.4%, against −50.4% a year (rolling over).

How much of every $100 of sales does Viper Energy keep?

Viper Energy, Inc.'s operating margin was 67.0% in the Jun 2026 quarter, 31.3 percentage points higher than the same quarter a year ago. Across 5 years it has been between 50.7% and 76.5%. The latest quarter is within that range.

Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +31.3 percentage points on the year while gross margin changed +7.1 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY25: 50.7%, within a range of 50.7% to 76.5% over 5 years

  • Operating margin 50.7%
FY25: 50.7%, within a range of 50.7% to 76.5% over 5 years
QuarterOperating margin
FY2157.9%
FY2276.5%
FY2371.8%
FY2470.7%
FY2550.7%

Change on the year before (points)

  • Change on the year before (points) −20.0 pts
Change on the year before (points)
QuarterChange on the year before (points)
FY21–
FY22+18.6 pts
FY23−4.7 pts
FY24−1.1 pts
FY25−20.0 pts
Operating margin each year, % (top). Below: change on the year before, in percentage points. 5-year window.

Jun 2026: operating margin 67.0% (+31.3 points on a year earlier)

  • Operating margin 67.0%
Jun 2026: operating margin 67.0% (+31.3 points on a year earlier)
QuarterOperating margin
Sep 202381.8%
Dec 202376.1%
Mar 202471.7%
Jun 202474.3%
Sep 202468.1%
Dec 202469.1%
Mar 202585.8%
Jun 202535.7%
Sep 202550.6%
Dec 202543.1%
Mar 202655.9%
Jun 202667%

Change on a year earlier (points)

  • Change on a year earlier (points) +31.3 pts
Change on a year earlier (points)
QuarterChange on a year earlier (points)
Sep 2023+0.2 pts
Dec 2023−6.5 pts
Mar 2024+1.4 pts
Jun 2024+8.3 pts
Sep 2024−13.7 pts
Dec 2024−7.0 pts
Mar 2025+14.1 pts
Jun 2025−38.6 pts
Sep 2025−17.5 pts
Dec 2025−26.0 pts
Mar 2026−29.9 pts
Jun 2026+31.3 pts
Top: quarterly operating margin, %. Below: change on the same quarter a year earlier, in percentage points. Last 12 quarters. Operating profit as a share of revenue, each quarter.

Is Viper Energy's profit turning into cash?

Over the last 3 years, 275% of Viper Energy, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $1.1 B of operating cash against −$69.0 M of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After $2.4 B of spending on assets, free cash was −$1.4 B: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

FY25: operating cash $1.1 B against profit −$69.0 M; 275% of 3 years' profit came in as cash

  • Operating cash $1.1 B
  • Net profit −$69.0 M
  • Free cash −$1.4 B
FY25: operating cash $1.1 B against profit −$69.0 M; 275% of 3 years' profit came in as cash
QuarterOperating cashNet profitFree cash
FY21$307 M$57.7 M$25.9 M
FY22$700 M$152 M$636 M
FY23$638 M$200 M−$270 M
FY24$620 M$359 M−$76.0 M
FY25$1.1 B−$69.0 M−$1.4 B
Operating cash flow and net profit each year, $ B. The line is free cash flow: operating cash minus spending on assets. 5-year window, yearly figures.

Jun 2026: operating cash $487 M = 343% of the quarter's profit

  • Operating cash (quarterly) $487 M
Jun 2026: operating cash $487 M = 343% of the quarter's profit
QuarterOperating cash (quarterly)
Sep 2023$240 M
Dec 2023$146 M
Mar 2024$115 M
Jun 2024$144 M
Sep 2024$203 M
Dec 2024$158 M
Mar 2025$201 M
Jun 2025$172 M
Sep 2025$281 M
Dec 2025$399 M
Mar 2026$328 M
Jun 2026$487 M

Operating cash as % of profit

  • Operating cash as % of profit 343%
Operating cash as % of profit
QuarterOperating cash as % of profit
Sep 2023306%
Dec 2023255%
Mar 2024267%
Jun 2024253%
Sep 2024414%
Dec 202475%
Mar 2025268%
Jun 2025465%
Sep 2025–
Dec 2025–
Mar 2026338%
Jun 2026343%
Top: operating cash each quarter, $ M. Below: operating cash as a % of net profit; 100% means all of the quarter's profit came in as cash. Last 12 quarters.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.

Where does Viper Energy's cash go?

Viper Energy, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $4.0 B on assets over the last 3 years. Averaged over those years that is 101.3% of FY25 revenue a year.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.

Spending on assets: $4.0 B over the last 3 years.

FY25: capex $2.4 B, up from the year before

  • Capex $2.4 B
FY25: capex $2.4 B, up from the year before
QuarterCapex
FY21$281 M
FY22$64.1 M
FY23$908 M
FY24$696 M
FY25$2.4 B
Capital spending each year, $ B.

Jun 2026: capex $103 M in the quarter

  • Capex (quarterly) $103 M
Jun 2026: capex $103 M in the quarter
QuarterCapex (quarterly)
Sep 2023$52.3 M
Dec 2023$732 M
Mar 2024$21.0 M
Jun 2024$8.0 M
Sep 2024$242 M
Dec 2024$425 M
Mar 2025$486 M
Jun 2025$774 M
Sep 2025$1.1 B
Dec 2025$67.0 M
Mar 2026$30.0 M
Jun 2026$103 M

Free cash

  • Free cash $384 M
Free cash
QuarterFree cash
Sep 2023$187 M
Dec 2023−$586 M
Mar 2024$94.0 M
Jun 2024$136 M
Sep 2024−$39.0 M
Dec 2024−$267 M
Mar 2025−$285 M
Jun 2025−$602 M
Sep 2025−$816 M
Dec 2025$332 M
Mar 2026$298 M
Jun 2026$384 M
Top: capital spending each quarter, $ B. Below: free cash flow, $ B. Last 12 quarters.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

What is Viper Energy's P/E ratio, and how does it compare with its own history?

Viper Energy, Inc.'s P/E is 27.6×, with too little history to compare. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.

P/E 27.6× against a usual —: with too little history to compare

  • P/E 328.5×
P/E 27.6× against a usual —: with too little history to compare
WeekP/E
17 Nov 202313.3×
24 Nov 202313.6×
1 Dec 202313.4×
8 Dec 202313.2×
15 Dec 202313.4×
22 Dec 202313.8×
29 Dec 202313.8×
5 Jan 202411.7×
12 Jan 202411.7×
19 Jan 202411.4×
26 Jan 202411.7×
2 Feb 202411.6×
9 Feb 202411.8×
16 Feb 202413.2×
23 Feb 202413.4×
1 Mar 202413.6×
8 Mar 202413.1×
15 Mar 202413.3×
22 Mar 202414.0×
28 Mar 202414.3×
5 Apr 202414.5×
12 Apr 202414.9×
19 Apr 202414.4×
26 Apr 202414.6×
3 May 202413.9×
10 May 202413.9×
17 May 202413.9×
24 May 202413.9×
31 May 202414.2×
7 Jun 202413.4×
14 Jun 202413.2×
21 Jun 202413.3×
28 Jun 202413.8×
5 Jul 202413.4×
12 Jul 202413.6×
19 Jul 202414.7×
26 Jul 202414.5×
2 Aug 202413.8×
9 Aug 202415.6×
16 Aug 202416.1×
23 Aug 202416.3×
30 Aug 202416.3×
6 Sep 202415.6×
13 Sep 202414.7×
20 Sep 202415.7×
27 Sep 202415.4×
4 Oct 202421.6×
11 Oct 202422.4×
18 Oct 202422.0×
25 Oct 202422.5×
1 Nov 202422.4×
8 Nov 202423.4×
15 Nov 202421.8×
22 Nov 202424.3×
29 Nov 202423.2×
6 Dec 202421.9×
13 Dec 202422.0×
20 Dec 202420.4×
27 Dec 202420.6×
3 Jan 202513.9×
10 Jan 202513.5×
17 Jan 202514.0×
24 Jan 202513.0×
31 Jan 202512.8×
7 Feb 202513.5×
14 Feb 202513.5×
21 Feb 202513.2×
28 Feb 202512.7×
7 Mar 202511.3×
14 Mar 202511.8×
21 Mar 202512.1×
28 Mar 202512.1×
4 Apr 20259.91×
11 Apr 20259.90×
17 Apr 202510.9×
25 Apr 202510.9×
2 May 202511.1×
9 May 202510.7×
16 May 202510.9×
23 May 202510.4×
30 May 202510.4×
6 Jun 202510.9×
13 Jun 202511.2×
20 Jun 202510.7×
27 Jun 202510.1×
3 Jul 202511.0×
11 Jul 202511.2×
18 Jul 202511.2×
25 Jul 202511.0×
1 Aug 202510.6×
8 Aug 202510.9×
15 Aug 202510.9×
22 Aug 202511.3×
29 Aug 202511.5×
5 Sep 202510.8×
12 Sep 202511.2×
19 Sep 202510.8×
26 Sep 202511.5×
3 Oct 202516.2×
10 Oct 202515.2×
17 Oct 202515.1×
24 Oct 202515.4×
31 Oct 202515.6×
7 Nov 202515.6×
14 Nov 202515.7×
21 Nov 202514.9×
28 Nov 202515.2×
5 Dec 202516.9×
12 Dec 202516.7×
19 Dec 202515.7×
26 Dec 202515.8×
2 Jan 202616.1×
9 Jan 202615.2×
16 Jan 202615.3×
23 Jan 202616.4×
30 Jan 202617.6×
6 Feb 202617.8×
13 Feb 202618.4×
20 Feb 202618.9×
27 Feb 202619.3×
6 Mar 202618.3×
13 Mar 202618.4×
20 Mar 202619.9×
27 Mar 202619.9×
2 Apr 202619.3×
10 Apr 202618.7×
17 Apr 202618.8×
24 Apr 202619.7×
1 May 202620.7×
2 Jul 2026326.0×
10 Jul 2026336.2×
17 Jul 2026355.0×
24 Jul 2026361.0×
31 Jul 2026356.9×
7 Aug 2026326.6×
14 Aug 2026338.3×
21 Aug 2026362.2×
28 Aug 2026353.4×
4 Sep 2026355.1×
11 Sep 2026357.7×
18 Sep 2026338.2×
25 Sep 2026327.4×
2 Oct 2026325.1×
9 Oct 2026343.9×
16 Oct 2026360.2×
23 Oct 2026362.2×
30 Oct 2026362.2×
4 Nov 2026328.5×

Earnings per share, 12 months

  • Earnings per share, 12 months $0.13
Earnings per share, 12 months
WeekEarnings per share, 12 months
17 Nov 2023–
24 Nov 2023–
1 Dec 2023–
8 Dec 2023–
15 Dec 2023–
22 Dec 2023–
29 Dec 2023$2.28
5 Jan 2024$2.28
12 Jan 2024$2.28
19 Jan 2024$2.28
26 Jan 2024$2.28
2 Feb 2024$2.28
9 Feb 2024$2.28
16 Feb 2024$2.28
23 Feb 2024$2.28
1 Mar 2024$2.28
8 Mar 2024$2.28
15 Mar 2024$2.28
22 Mar 2024$2.28
28 Mar 2024$2.69
5 Apr 2024$2.69
12 Apr 2024$2.69
19 Apr 2024$2.69
26 Apr 2024$2.69
3 May 2024$2.69
10 May 2024$2.69
17 May 2024$2.69
24 May 2024$2.69
31 May 2024$2.69
7 Jun 2024$2.69
14 Jun 2024$2.69
21 Jun 2024$2.69
28 Jun 2024$2.71
5 Jul 2024$2.71
12 Jul 2024$2.71
19 Jul 2024$2.71
26 Jul 2024$2.71
2 Aug 2024$2.71
9 Aug 2024$2.71
16 Aug 2024$2.71
23 Aug 2024$2.71
30 Aug 2024$2.71
6 Sep 2024$2.71
13 Sep 2024$2.71
20 Sep 2024$2.71
27 Sep 2024$2.92
4 Oct 2024$2.92
11 Oct 2024$2.92
18 Oct 2024$2.92
25 Oct 2024$2.92
1 Nov 2024$2.92
8 Nov 2024$2.92
15 Nov 2024$2.92
22 Nov 2024$2.92
29 Nov 2024$2.92
6 Dec 2024$2.92
13 Dec 2024$2.92
20 Dec 2024$2.92
27 Dec 2024$2.33
3 Jan 2025$2.33
10 Jan 2025$2.33
17 Jan 2025$2.33
24 Jan 2025$2.33
31 Jan 2025$2.33
7 Feb 2025$2.33
14 Feb 2025$2.33
21 Feb 2025$2.33
28 Feb 2025$2.33
7 Mar 2025$2.33
14 Mar 2025$2.33
21 Mar 2025$2.33
28 Mar 2025$3.67
4 Apr 2025$3.67
11 Apr 2025$3.67
17 Apr 2025$3.67
25 Apr 2025$3.67
2 May 2025$3.67
9 May 2025$3.67
16 May 2025$3.67
23 May 2025$3.67
30 May 2025$3.67
6 Jun 2025$3.67
13 Jun 2025$3.67
20 Jun 2025$3.67
27 Jun 2025$3.80
3 Jul 2025$3.80
11 Jul 2025$3.80
18 Jul 2025$3.80
25 Jul 2025$3.80
1 Aug 2025$3.80
8 Aug 2025$3.80
15 Aug 2025$3.80
22 Aug 2025$3.80
29 Aug 2025$3.80
5 Sep 2025$3.80
12 Sep 2025$3.80
19 Sep 2025$3.80
26 Sep 2025$3.46
3 Oct 2025$3.46
10 Oct 2025$3.46
17 Oct 2025$3.46
24 Oct 2025$3.46
31 Oct 2025$3.46
7 Nov 2025$3.46
14 Nov 2025$3.46
21 Nov 2025$3.46
28 Nov 2025$3.46
5 Dec 2025$3.46
12 Dec 2025$3.46
19 Dec 2025$3.46
26 Dec 2025$2.41
2 Jan 2026$2.41
9 Jan 2026$2.41
16 Jan 2026$2.41
23 Jan 2026$2.41
30 Jan 2026$2.41
6 Feb 2026$2.41
13 Feb 2026$2.41
20 Feb 2026$2.41
27 Feb 2026$2.41
6 Mar 2026$2.41
13 Mar 2026$2.41
20 Mar 2026$2.41
27 Mar 2026$2.41
2 Apr 2026$2.41
10 Apr 2026$2.41
17 Apr 2026$2.41
24 Apr 2026$2.41
1 May 2026$2.41
2 Jul 2026$2.41
10 Jul 2026$2.41
17 Jul 2026$2.41
24 Jul 2026$2.41
31 Jul 2026$2.41
7 Aug 2026$2.41
14 Aug 2026$2.41
21 Aug 2026$2.41
28 Aug 2026$2.41
4 Sep 2026$2.41
11 Sep 2026$2.41
18 Sep 2026$2.41
25 Sep 2026$0.13
2 Oct 2026$0.13
9 Oct 2026$0.13
16 Oct 2026$0.13
23 Oct 2026$0.13
30 Oct 2026$0.13
4 Nov 2026$0.13
Top: P/E each week. Below: earnings per share, trailing twelve months, a step line that moves once a quarter; 3 years of history; short peaks above 362× are drawn at the top edge.

PEG 1.17 at the Jun 2026 quarter end: above 1.0, so the P/E is bigger than the earnings growth rate

  • PEG 1.17×
  • PEG = 1.0 1.00×
PEG 1.17 at the Jun 2026 quarter end: above 1.0, so the P/E is bigger than the earnings growth rate
QuarterPEGPEG = 1.0
Jun 20256.00×1.00×
Sep 20256.00×1.00×
Dec 20256.00×1.00×
Mar 20266.00×1.00×
Jun 20261.17×1.00×
PEG each quarter: the P/E divided by the yearly growth rate of earnings. The flat line marks 1.0. Below it the P/E is smaller than the growth rate; above it the P/E is bigger. Last 5 quarters; values above 6 are drawn at the top edge.
27.6×P/E · too little history to compare
0.85PEG · today, as reported

Why the multiple is where it is: over the past year earnings per share moved −112.7% while the price moved +9.3%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 3 years the price moved +10.5% a year; about −62.0% a year came from earnings growth and about +72.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple.

Is the Viper Energy business getting better or worse?

Viper Energy, Inc.'s business is getting worse. Profit and EPS growth are shrinking: profit growth is −84.4% in the latest quarter, against +86.9% at its best in 12 quarters, with ROCE falling at 9.9%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Growth year by year: revenue +62.2% in FY25, profit −119.2%

  • Revenue growth 62.2%
Growth year by year: revenue +62.2% in FY25, profit −119.2%
QuarterRevenue growth
FY21–
FY2271.7%
FY23−4.5%
FY24−1.2%
FY2562.2%

Profit growth, EPS growth

  • Profit growth −119.2%
  • EPS growth −112.7%
Profit growth, EPS growth
QuarterProfit growthEPS growth
FY21––
FY22162.7%136.6%
FY2331.9%34.5%
FY2479.5%42%
FY25−119.2%−112.7%
Growth on the year before, each year, %. Top: revenue. Below: net profit and earnings per share, on their own scale because profit growth swings much more. Zero line drawn.

Three growth lines over twelve quarters: revenue accelerating, profit rolling over

  • Revenue 105.3%
Three growth lines over twelve quarters: revenue accelerating, profit rolling over
QuarterRevenue
Sep 20230.6%
Dec 2023−3.9%
Mar 20243.3%
Jun 202423.4%
Sep 20240.5%
Dec 20243.3%
Mar 20253.5%
Jun 20257.3%
Sep 202542.4%
Dec 202562.2%
Mar 202687.1%
Jun 2026105.3%

Profit, EPS

  • Profit −84.4%
  • EPS −96.4%
Profit, EPS
QuarterProfitEPS
Sep 2023−2.7%3.6%
Dec 202332.2%34.6%
Mar 202424%20.7%
Jun 202442.7%30.6%
Sep 202425.4%2.1%
Dec 202479.4%36.5%
Mar 202586.9%40%
Jun 202557.4%18.5%
Sep 202518.3%3.5%
Dec 2025−119.2%−106.4%
Mar 2026−112%−108.6%
Jun 2026−84.4%−96.4%
Growth on a year earlier, % at each quarter end. Top: revenue. Below: profit and earnings per share, on their own scale because they swing much more. Each is measured over the last 12 months. A gap means there is no reading for that quarter.

ROCE: the return line, worked out each quarter

  • ROCE 9.9%
ROCE: the return line, worked out each quarter
QuarterROCE
Sep 202320%
Dec 202317.4%
Mar 202417.8%
Jun 202419.8%
Sep 202415.9%
Dec 2024–
Mar 2025–
Jun 2025–
Sep 2025–
Dec 20257.6%
Mar 20268.3%
Jun 20269.9%
Operating profit over the last 12 months (before interest and tax) as a share of average capital employed (total assets minus current liabilities), %.
RisingRevenue growth · latest +105.3%, range −3.9% to +105.3%
FallingProfit growth · latest −84.4%, range −119.2% to +86.9%
FallingEPS growth · latest −96.4%, range −108.6% to +40.0%
FallingROCE · latest 9.9%, range 7.6% to 20.0%

Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Compound annual growth rate (%)
Measure1yr3yr5yr10yr
Revenue+62.2%+15.2%——
Stock price+9.3%+10.5%——
+115.2%Revenue growth (Jun 2026) · latest quarter against a year ago
+283.8%Profit growth (Jun 2026) · latest quarter against a year ago
27.3%Revenue, 4 years · yearly growth over the long run

How much does Viper Energy earn on its capital?

Viper Energy, Inc. earned a ROE of −1% in FY25. Its return on capital used (ROIC) is 2.7 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a −5.2% net margin and 0.10× asset turnover (sales divided by assets).

Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.

Why the return is what it is (FY25): a −5.2% net margin × 0.10× asset turnover × 1.22× leverage (assets divided by equity) ≈ −0.6% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 8.4% − 5.7% = +2.7 percentage points. The 5.7% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.

FY25: ROE −1%, the full history

  • ROE −0.7%
  • ROIC (annual) 7.7%
  • Cost of capital 5.7%
FY25: ROE −1%, the full history
QuarterROEROIC (annual)Cost of capital
FY212.6%10.8%5.7%
FY226.5%22.6%5.7%
FY237%16%5.7%
FY249.2%13%5.7%
FY25−0.7%7.7%5.7%
Return on equity each year, % (line); ROIC each year, % (line). 5-year window, low years included. The flat line is the 5.7% cost of capital used on this page.

Jun 2026: ROIC 6.4% (last 12 months) against a 5.7% cost of capital

  • ROIC (12 months) 6.4%
  • ROE (12 months) −4.2%
  • Cost of capital 5.7%
Jun 2026: ROIC 6.4% (last 12 months) against a 5.7% cost of capital
QuarterROIC (12 months)ROE (12 months)Cost of capital
Sep 202317.5%91.3%5.7%
Dec 202319%89.7%5.7%
Mar 202417.8%83.6%5.7%
Jun 202417.5%82.1%5.7%
Sep 202418.1%85.3%5.7%
Dec 202413.8%64.1%5.7%
Mar 202513.1%75.2%5.7%
Jun 202513.2%74.7%5.7%
Sep 202510.9%62.3%5.7%
Dec 20259.5%40.2%5.7%
Mar 20267.5%0.8%5.7%
Jun 20266.4%−4.2%5.7%
ROIC and ROE over the last 12 months, each quarter, %; the flat line is the cost of capital. Last 12 quarters, lined up with the yearly figure.

Does Viper Energy have too much debt?

Viper Energy, Inc. has total debt of $1.7 B against shareholder equity of $10.3 B as of Jun 2026, so its debt is 0.16× its equity, which is very little. Year by year, that ratio went from 0.35 in FY21 to 0.21 in FY25. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

FY25: debt $2.2 B, 0.21× equity

  • Total debt $2.2 B
FY25: debt $2.2 B, 0.21× equity
QuarterTotal debt
FY21$777 M
FY22$577 M
FY23$1.1 B
FY24$1.1 B
FY25$2.2 B

Debt-to-equity

  • Debt-to-equity 0.21×
Debt-to-equity
QuarterDebt-to-equity
FY210.35×
FY220.25×
FY230.38×
FY240.28×
FY250.21×
Top: total debt each year, $ B. Below: debt-to-equity, ×. 5-year window.

Jun 2026: debt $1.7 B, debt-to-equity 0.16

  • Total debt (quarterly) $1.7 B
Jun 2026: debt $1.7 B, debt-to-equity 0.16
QuarterTotal debt (quarterly)
Sep 2023$676 M
Dec 2023$1.1 B
Mar 2024$1.1 B
Jun 2024$998 M
Sep 2024$822 M
Dec 2024$1.1 B
Mar 2025$822 M
Jun 2025$1.1 B
Sep 2025$2.6 B
Dec 2025$2.2 B
Mar 2026$1.6 B
Jun 2026$1.7 B

Debt-to-equity

  • Debt-to-equity 0.16×
Debt-to-equity
QuarterDebt-to-equity
Sep 20230.28×
Dec 20230.38×
Mar 20240.38×
Jun 20240.35×
Sep 20240.25×
Dec 20240.28×
Mar 20250.15×
Jun 20250.13×
Sep 20250.24×
Dec 20250.21×
Mar 20260.15×
Jun 20260.16×
Top: total debt each quarter, $ B. Below: debt-to-equity, ×. Last 12 quarters.

What is the Viper Energy shareholding pattern?

6.1% of Viper Energy, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 4.5 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead.

There is no quarter-by-quarter list of owners here, so we look at short interest: the share of tradable shares held in short positions, which gain if the price falls.

It is a single reading at one point in time; we do not have its history.

6.1%Short interest · of the tradable float
4.5Days to cover · at typical volumes

Why it is at this level: the figure does not say who has the short positions or why, so we show the level without guessing the story.

How far is Viper Energy from balance-sheet trouble?

For Viper Energy, Inc., the Z-score is 2.36. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the grey area between the two. It estimates how far the balance sheet is from trouble; it is not a forecast of failure.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

Why it matters: a Z-score of 2.36 is in the grey area, neither clearly safe nor clearly in trouble.

How does Viper Energy rank in its industry?

49.8 out of 100, rank 15 of 30 in Oil & Gas Midstream, with 81% of the evidence available.

Viper Energy, Inc. scores 49.8 out of 100 against the 30 companies it is compared with in Oil & Gas Midstream, ranking 15. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 20.8 + 11.8 + 11.4 + 5.8 = 49.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Which companies is Viper Energy compared with?

Viper Energy ranks 15 of 30 Oil & Gas Midstream companies on the 4-Factor Sector Score, with 49.8 out of 100.

  1. 1Frontline plcFRO · leader · Sector-leading setup · 81% evidence86.3out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 30.0/35 · Revenue 48.9% · Profit 100% · Operating margin change 38.3 points · 83% evidenceCapital efficiency 21.2/25 · ROCE 25.5% · Operating margin 65.8% · 76% evidenceValuation 15.5/20 · P/E 5.2× · PEG 0.19 · 65% evidenceRelative strength 19.6/20 · Lead over its industry 25.2% · Lead over S&P 500 25.2% · 1 year 104.9% · 100% evidence · 12 of 12 weeks aheadExact sum: 30 + 21.2 + 15.5 + 19.6 = 86.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks.
  2. 2TORM plcTRMD · breaking out · Sector-leading setup · 81% evidence80.2out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 27.4/35 · Revenue 33.3% · Profit 89.4% · Operating margin change 31.6 points · 83% evidenceCapital efficiency 18.0/25 · ROCE 19.9% · Operating margin 53.6% · 76% evidenceValuation 15.1/20 · P/E 4.2× · PEG 0.38 · 65% evidenceRelative strength 19.7/20 · Lead over its industry 21.3% · Lead over S&P 500 21.8% · 1 year 65.2% · 100% evidence · 11 of 12 weeks aheadExact sum: 27.4 + 18 + 15.1 + 19.7 = 80.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks.
  3. 3International Seaways, Inc.INSW · leader · Most evidence points up · 81% evidence78.1out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 28.9/35 · Revenue 57.8% · Profit 100% · Operating margin change 34.3 points · 83% evidenceCapital efficiency 19.1/25 · ROCE 24.2% · Operating margin 64.2% · 76% evidenceValuation 16.3/20 · P/E 4.9× · PEG 0.09 · 65% evidenceRelative strength 13.8/20 · Lead over its industry 17.7% · Lead over S&P 500 17.7% · 1 year 86.4% · 100% evidence · 12 of 12 weeks aheadExact sum: 28.9 + 19.1 + 16.3 + 13.8 = 78.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks.
  4. 4Scorpio Tankers Inc.STNG · breaking out · Most evidence points up · 81% evidence75.9out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 27.1/35 · Revenue 32.8% · Profit 100% · Operating margin change 25.4 points · 83% evidenceCapital efficiency 14.9/25 · ROCE 13.2% · Operating margin 59.7% · 76% evidenceValuation 16.4/20 · P/E 3.9× · PEG 0.11 · 65% evidenceRelative strength 17.5/20 · Lead over its industry 8.4% · Lead over S&P 500 9% · 1 year 33% · 100% evidence · 6 of 12 weeks aheadExact sum: 27.1 + 14.9 + 16.4 + 17.5 = 75.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
  5. 5BW LPG LimitedBWLP · losing its lead · Most evidence points up · 81% evidence71.2out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 23.8/35 · Revenue -0.8% · Profit 100% · Operating margin change 8 points · 83% evidenceCapital efficiency 17.3/25 · ROCE 20% · Operating margin 13.8% · 76% evidenceValuation 15.3/20 · P/E 5.9× · PEG 0.28 · 65% evidenceRelative strength 14.8/20 · Lead over its industry 12.3% · Lead over S&P 500 12.6% · 1 year 68% · 100% evidence · 11 of 12 weeks aheadExact sum: 23.8 + 17.3 + 15.3 + 14.8 = 71.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks.
  6. 6Cmb.Tech NVCMBT · leader · Evidence leans up · 71% evidence62.9out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 27.9/35 · Revenue 100% · Profit 100% · Operating margin change 27.7 points · 83% evidenceCapital efficiency 10.4/25 · ROCE 9.1% · Operating margin 43.2% · 76% evidenceValuation 11.2/20 · P/E 4.9× · PEG — · 15% evidenceRelative strength 13.4/20 · Lead over its industry 10.8% · Lead over S&P 500 11.3% · 1 year 79.8% · 100% evidence · 11 of 12 weeks aheadExact sum: 27.9 + 10.4 + 11.2 + 13.4 = 62.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
  7. 7Targa Resources Corp.TRGP · breaking out · Evidence leans up · 81% evidence61.2out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 16.7/35 · Revenue -2% · Profit 47.9% · Operating margin change 3.5 points · 83% evidenceCapital efficiency 15.3/25 · ROCE 15.3% · Operating margin 27.8% · 76% evidenceValuation 12.8/20 · P/E 25.5× · PEG 0.51 · 65% evidenceRelative strength 16.4/20 · Lead over its industry 8.7% · Lead over S&P 500 9.2% · 1 year 65.5% · 100% evidence · 7 of 12 weeks aheadExact sum: 16.7 + 15.3 + 12.8 + 16.4 = 61.2 · What this means: Relative strength against the index is 9.2%, and revenue and profit growth are weak.
  8. 8Venture Global, Inc.VG · quiet · Evidence leans up · 81% evidence61.1out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 27.0/35 · Revenue 100% · Profit 100% · Operating margin change 14.3 points · 83% evidenceCapital efficiency 11.9/25 · ROCE 11.1% · Operating margin 47.8% · 76% evidenceValuation 15.5/20 · P/E 8.3× · PEG 0.14 · 65% evidenceRelative strength 6.7/20 · Lead over its industry -3.3% · Lead over S&P 500 -3.7% · 1 year 49.9% · 100% evidence · 7 of 12 weeks aheadExact sum: 27 + 11.9 + 15.5 + 6.7 = 61.1 · What this means: Earnings are strong; relative strength in its sector is -3.3% and the one-year return is 49.9%.
  9. 9Plains All American Pipeline, L.P.PAA · breaking out · Evidence leans up · 81% evidence59.3out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 20.6/35 · Revenue 12.2% · Profit 100% · Operating margin change 0.1 points · 83% evidenceCapital efficiency 7.7/25 · ROCE 6.9% · Operating margin 2.8% · 76% evidenceValuation 14.0/20 · P/E 6.2× · PEG 0.62 · 65% evidenceRelative strength 17.0/20 · Lead over its industry 7.1% · Lead over S&P 500 8% · 1 year 51.6% · 100% evidence · 8 of 12 weeks aheadExact sum: 20.6 + 7.7 + 14 + 17 = 59.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
  10. 10Plains GP Holdings, L.P.PAGP · leader · Evidence leans up · 81% evidence58.4out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 22.1/35 · Revenue 12.2% · Profit 100% · Operating margin change 0.2 points · 83% evidenceCapital efficiency 7.3/25 · ROCE 6.6% · Operating margin 2.8% · 76% evidenceValuation 12.5/20 · P/E 8.7× · PEG 0.92 · 65% evidenceRelative strength 16.5/20 · Lead over its industry 6.3% · Lead over S&P 500 7.1% · 1 year 53.7% · 100% evidence · 8 of 12 weeks aheadExact sum: 22.1 + 7.3 + 12.5 + 16.5 = 58.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
  11. 11Cheniere Energy, Inc.LNG · leader · Evidence leans up · 81% evidence57.7out of 100GrowthCapitalValuationRelative
  12. 12Cheniere Energy Partners, L.P.CQP · quiet · Evidence leans up · 81% evidence57.0out of 100GrowthCapitalValuationRelative
  13. 13Kinetik Holdings Inc.KNTK · losing its lead · Evidence leans up · 81% evidence51.1out of 100GrowthCapitalValuationRelative
  14. 14Excelerate Energy, Inc.EE · quiet · Evidence leans up · 75% evidence50.2out of 100GrowthCapitalValuationRelative
  15. 15Viper Energy, Inc. this pageVNOM · turning · Evidence leans down · 81% evidence49.8out of 100GrowthCapitalValuationRelative
    How the score adds upGrowth & earnings 20.8/35 · Revenue 100% · Profit -84.4% · Operating margin change 31.3 points · 83% evidenceCapital efficiency 11.8/25 · ROCE 9% · Operating margin 67% · 76% evidenceValuation 11.4/20 · P/E 142× · PEG 0.73 · 65% evidenceRelative strength 5.8/20 · Lead over its industry -12.1% · Lead over S&P 500 -11.1% · 1 year 9.3% · 100% evidence · 1 of 12 weeks aheadExact sum: 20.8 + 11.8 + 11.4 + 5.8 = 49.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
  16. 16Kinder Morgan, Inc.KMI · turning · Evidence leans down · 85% evidence49.0out of 100GrowthCapitalValuationRelative
  17. 17South Bow CorporationSOBO · quiet · Evidence leans down · 81% evidence48.8out of 100GrowthCapitalValuationRelative
  18. 18ONEOK, Inc.OKE · turning · Evidence leans down · 81% evidence48.2out of 100GrowthCapitalValuationRelative
  19. 19Hess Midstream LPHESM · basing · Evidence leans down · 81% evidence47.7out of 100GrowthCapitalValuationRelative
  20. 20Pembina Pipeline CorporationPBA · turning · Evidence leans down · 81% evidence47.0out of 100GrowthCapitalValuationRelative
  21. 21The Williams Companies, Inc.WMB · quiet · Evidence leans down · 81% evidence45.4out of 100GrowthCapitalValuationRelative
  22. 22Energy Transfer LPET · quiet · Evidence leans down · 81% evidence44.8out of 100GrowthCapitalValuationRelative
  23. 23Golar LNG LimitedGLNG · quiet · Evidence leans down · 81% evidence43.0out of 100GrowthCapitalValuationRelative
  24. 24Western Midstream Partners, LPWES · quiet · Evidence leans down · 81% evidence42.8out of 100GrowthCapitalValuationRelative
  25. 25MPLX LPMPLX · quiet · Evidence leans down · 81% evidence41.0out of 100GrowthCapitalValuationRelative
  26. 26Enterprise Products Partners L.P.EPD · quiet · Evidence leans down · 81% evidence40.6out of 100GrowthCapitalValuationRelative
  27. 27TC Energy CorporationTRP · quiet · Evidence leans down · 81% evidence40.0out of 100GrowthCapitalValuationRelative
  28. 28Antero Midstream CorporationAM · quiet · Evidence leans down · 81% evidence38.6out of 100GrowthCapitalValuationRelative
  29. 29DT Midstream, Inc.DTM · basing · Evidence leans down · 81% evidence38.4out of 100GrowthCapitalValuationRelative
  30. 30Enbridge Inc.ENB · basing · Most evidence points down · 81% evidence26.0out of 100GrowthCapitalValuationRelative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Oil & Gas Midstream, all 30 compared on one page.

Which companies are close to Viper Energy in size?

Viper Energy is the 16th largest of 47 Oil & Gas Midstream companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: Cheniere Energy Partners, L.P., Plains All American Pipeline, L.P. and Western Midstream Partners, LP. Just below it: DT Midstream, Inc., Frontline plc and Antero Midstream Corporation.

Oil & Gas Midstream companies close in size

  1. Cheniere Energy Partners, L.P. $27.3 billion
  2. Plains All American Pipeline, L.P. $17.8 billion
  3. Western Midstream Partners, LP $17.6 billion
  4. Viper Energy, Inc. $14.8 billion
  5. DT Midstream, Inc. $12 billion
  6. Frontline plc $10.8 billion
  7. Antero Midstream Corporation $9.4 billion

All 47 Oil & Gas Midstream companies, largest first

Companies close in size in other industries

  1. Coeur Mining, Inc. $15 billion · Gold
  2. Annaly Capital Management, Inc. $14.9 billion · REIT - Mortgage
  3. Viper Energy, Inc. $14.8 billion
  4. Halozyme Therapeutics, Inc. $14.8 billion · Biotechnology
  5. Sun Communities, Inc. $14.8 billion · REIT - Residential

What else do people ask about Viper Energy?

What were Viper Energy's latest quarterly results?

Viper Energy, Inc. reported revenue of $639 M and net profit of $142 M for the Jun 2026 quarter. Revenue rose 115.2% and profit rose 283.8% compared with a year earlier. Earnings per share were $0.73.

The operating margin was 67.0%, 31.3 percentage points higher than a year earlier (as of 4 November 2026).

What is Viper Energy's market cap?

Viper Energy, Inc.'s market capitalisation is $14.8 B at a stock price of $41.06. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026).

How is Viper Energy performing?

Viper Energy, Inc.'s share price has been moving sideways for 1 weeks. In its latest quarter, revenue rose 115.2% and profit rose 283.8% compared with a year earlier. Over the past 13 weeks it has done better than the S&P 500, for 3 weeks running (as of 4 November 2026).

Will Viper Energy's stock price go up?

This page does not forecast Viper Energy, Inc.'s stock price. What it shows instead: the stock price is $41.06, and it has been moving sideways for 1 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026).

Does Viper Energy have too much debt?

No, Viper Energy, Inc. has little debt: its debt is 0.23× its equity. A year-by-year history of its borrowings is not in our data, so this uses the latest reading. So the returns on this page come from the business, not borrowed money (as of 4 November 2026).

Is Viper Energy's profit real cash?

Yes, over the last 3 years, 275% of Viper Energy, Inc.'s reported profit came in as cash from operations. The latest year was lower at -1526%, so the trend is worth watching. In FY25, operating cash was $1.1 B against reported profit of −$69.0 M.

Most of that cash then goes into building new capacity. These are yearly figures (as of 4 November 2026).

Where is Viper Energy in its business cycle?

Viper Energy, Inc.'s FY25 operating margin was 50.7%, against a 5-year range of 50.7% to 76.5%: the low end of its own range, which is often where recoveries start. The latest quarter was 67.0%.

Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026).

What could break the Viper Energy story?

The main question: the share price moved +9.3% in a year while yearly earnings per share moved −112.7%. The difference came from the market paying a higher multiple.

On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026).

Is Viper Energy a stock worth studying right now?

What the numbers show: Viper Energy, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether earnings grow into a price that has already moved.

Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026).

Where do these numbers come from?

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

See the plain-text version of this page.

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