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Matador Resources (MTDR) FY2021 results: revenue $1.7 billion, up 92.9% on the year

Matador Resources Co. (MTDR) reported revenue of $1.7 billion for fiscal 2021, the year ended 31 December 2021, up 92.9% on the year before. Net income was $585 million, and diluted earnings per share $4.91. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.

Revenue
$1.7 billion
+92.9% on the year
FY2014FY2021
Operating margin
47.7%
-60.5% a year earlier
FY2014FY2021
Net income
$585 million
FY2014FY2021
Diluted EPS
$4.91
FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ millionFY2021FY2020FY2019On the yearLast 8 years
Revenue1,663862984+92.9%
Cost of revenue61.541.5n/a+48.1%
Gross profit1,602821n/a+95.2%
Gross margin96.3%95.2%n/a
Operating income793-521235
Operating margin47.7%-60.5%23.9%
Interest expense74.776.773.9-2.6%
Pre-tax income715-599159
Income tax74.7-45.635.5
Effective tax rate10.4%n/a22.4%
Net income585-59387.8
Net margin35.2%-68.8%8.9%
Diluted EPS$4.91-$5.11$0.75
$ 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

$ millionFY2021FY2020FY2019On the yearLast 8 years
Operating cash flow1,053478552+120.6%
Capital expenditure838722946+16.1%
Free cash flow215-244-394
Free cash flow margin13.0%-28.3%-40.1%
Cash from investing-729-776-904
Cash from financing-329324333
Depreciation and amortisation345362351-4.7%
Share-based compensation9.013.618.5-33.7%
Dividends paid14.60.00.0
Dividend per share$0.12n/an/a
Diluted shares, weighted119m116m117m+2.7%
Shares outstanding at period end118m117m116m+0.9%

Balance sheet

$ millionFY2021FY2020FY2019On the yearLast 8 years
Shareholders' equity1,9071,2871,834+48.2%
Non-controlling interest220226136-2.8%
Debt1,5281,8151,582-15.8%
Operating lease liabilities15.321.641.5-29.0%
Finance lease liabilities0.00.30.5-82.4%
Other liabilities592337476+75.4%
Total liabilities and equity4,2623,6874,070+15.6%
Fixed assets3,8573,3683,700+14.5%
Cash and equivalents48.157.940.0-16.9%
Receivables16485.195.2+93.0%
Other assets193176235+9.4%
Total assets4,2623,6874,070+15.6%

10-K for the year ended 31 December 2021, filed 28 February 2022: the filing.