Diamondback Energy (FANG) FY2020 results: revenue $2.8 billion, down 29.0% on the year
Diamondback Energy, Inc. (FANG) reported revenue of $2.8 billion for fiscal 2020, the year ended 31 December 2020, down 29.0% on the year before. Net income was -$4.5 billion, and diluted earnings per share $-28.59. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$2.8 billion
-29.0% on the year
FY2016FY2020
Operating margin
-194.7%
17.5% a year earlier
FY2016FY2020
Net income
-$4.5 billion
FY2016FY2020
Diluted EPS
-$28.59
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,813
3,964
2,176
-29.0%
Selling, general and administrative
88.0
104
65.0
-15.4%
Operating income
-5,476
695
1,011
Operating margin
-194.7%
17.5%
46.5%
Interest expense
197
172
87.0
+14.5%
Pre-tax income
-5,776
362
1,113
Income tax
-1,104
47.0
168
Effective tax rate
n/a
13.0%
15.1%
Net income
-4,517
240
846
Net margin
-160.6%
6.1%
38.9%
Diluted EPS
-$28.59
$1.47
$8.06
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,118
2,734
1,565
-22.5%
Cash from investing
-2,101
-3,888
-3,503
Cash from financing
-37.0
1,062
2,041
Depreciation and amortisation
1,311
1,454
623
-9.8%
Share-based compensation
37.0
48.0
27.0
-22.9%
Buybacks
98.0
593
0.0
-83.5%
Dividends paid
236
112
37.0
+110.7%
Dividend per share
$1.52
$0.94
$0.50
+62.7%
Diluted shares, weighted
158m
164m
105m
-3.6%
Shares outstanding at period end
158m
159m
164m
-0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
8,794
13,249
13,699
-33.6%
Non-controlling interest
1,010
1,657
467
-39.0%
Debt
5,815
5,371
4,464
+8.3%
Other liabilities
2,000
3,254
2,965
-38.5%
Total liabilities and equity
17,619
23,531
21,596
-25.1%
Fixed assets
16,214
21,835
20,372
-25.7%
Intangible assets
n/a
8.0
11.0
Cash and equivalents
104
123
215
-15.4%
Receivables
281
429
297
-34.5%
Inventory
33.0
37.0
37.0
-10.8%
Other assets
987
1,099
664
-10.2%
Total assets
17,619
23,531
21,596
-25.1%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.