Stock Analysis on Net
Stock Analysis on Net

Diamondback Energy Inc. (NASDAQ:FANG)

This company has been moved to the archive! The financial data has not been updated since November 8, 2022.

Common-Size Balance Sheet: Assets 
Quarterly Data

Diamondback Energy Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and cash equivalents 0.11 0.18 0.64 2.86 2.02 1.54 0.55 0.59 0.49 0.25 0.64 0.52 0.42 1.41 0.57 0.99 5.18 1.27 0.88 1.45 0.41 0.24 0.59
Restricted cash 0.03 0.07 0.08 0.08 0.08 0.08 0.09 0.02 0.04 0.04 0.03 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts receivable, joint interest and other, net 0.48 0.32 0.48 0.31 0.44 0.35 0.31 0.32 0.36 0.55 0.76 0.79 0.73 0.73 0.48 0.44 0.84 1.02 0.86 0.94 0.68 1.06 0.88
Accounts receivable, oil and natural gas sales, net 2.81 4.10 4.14 2.61 3.15 2.59 2.41 1.59 1.19 1.14 0.96 1.82 1.56 1.51 1.60 1.37 1.86 1.87 2.01 2.04 1.43 1.22 1.31
Inventories 0.25 0.28 0.27 0.27 0.23 0.23 0.24 0.19 0.18 0.17 0.15 0.16 0.19 0.19 0.18 0.17 0.15 0.15 0.11 0.12 0.07 0.07 0.05
Derivative instruments 0.41 0.07 0.03 0.06 0.06 0.06 0.00 0.01 0.08 0.42 2.28 0.20 0.59 0.13 0.02 1.07 0.00 0.00 0.00 0.01 0.02 0.62 0.23
Income tax receivable 0.01 0.00 0.00 0.00 0.00 0.15 0.15 0.57 0.53 0.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets held for sale 0.00 0.00 0.00 0.00 0.37 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Prepaid expenses and other current assets 0.23 0.10 0.14 0.12 0.12 0.11 0.12 0.13 0.11 0.16 0.60 0.18 0.09 0.24 0.27 0.23 0.08 0.08 0.08 0.06 0.05 0.05 0.07
Current assets 4.32% 5.12% 5.77% 6.31% 6.47% 5.11% 3.87% 3.42% 2.97% 3.22% 5.42% 3.69% 3.59% 4.19% 3.11% 4.28% 8.11% 4.39% 3.94% 4.61% 2.66% 3.26% 3.12%
Oil and natural gas properties, full cost method of accounting 146.87 145.85 144.21 143.74 143.80 143.97 144.41 155.38 145.55 133.03 114.25 109.57 105.39 103.91 104.32 103.26 110.32 115.20 117.31 118.81 121.70 122.51 123.57
Other property, equipment and land 5.75 5.67 5.58 5.46 4.80 5.27 5.32 6.53 6.19 5.75 4.78 4.49 4.40 4.22 4.10 3.92 4.50 4.79 4.59 3.50 3.24 2.47 1.99
Accumulated depletion, depreciation, amortization and impairment -60.76 -60.39 -59.32 -59.15 -58.46 -57.82 -57.21 -69.89 -58.80 -45.71 -27.44 -21.26 -16.20 -14.89 -13.90 -12.85 -25.96 -26.82 -27.66 -27.81 -28.22 -29.04 -29.75
Property and equipment, net 91.86% 91.13% 90.47% 90.05% 90.14% 91.42% 92.53% 92.03% 92.94% 93.07% 91.59% 92.79% 93.59% 93.23% 94.52% 94.33% 88.86% 93.17% 94.24% 94.50% 96.72% 95.95% 95.81%
Funds held in escrow 0.02 0.00 0.00 0.05 0.29 0.15 0.15 0.29 0.00 0.00 0.00 0.00 0.03 0.06 0.00 0.00 0.63 0.00 0.00 0.08 0.00 0.00 0.03
Equity method investments 2.83 2.81 2.76 2.68 2.25 2.32 2.39 3.03 2.84 2.53 2.15 2.04 0.96 0.81 0.67 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Derivative instruments 0.05 0.14 0.16 0.02 0.02 0.02 0.02 0.00 0.00 0.00 0.13 0.03 0.25 0.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.05
Deferred income taxes, net 0.31 0.14 0.16 0.17 0.11 0.13 0.15 0.41 0.40 0.38 0.00 0.60 0.67 0.65 0.67 0.45 0.97 0.80 0.00 0.00 0.00 0.00 0.00
Investment in real estate, net 0.36 0.37 0.38 0.38 0.39 0.40 0.46 0.57 0.55 0.52 0.46 0.46 0.47 0.48 0.51 0.54 1.09 1.21 1.33 0.00 0.00 0.00 0.00
Other assets 0.24 0.28 0.30 0.33 0.34 0.45 0.44 0.26 0.30 0.29 0.25 0.38 0.45 0.48 0.51 0.40 0.32 0.42 0.49 0.80 0.62 0.72 0.98
Long-term assets 95.68% 94.88% 94.23% 93.69% 93.53% 94.89% 96.13% 96.58% 97.03% 96.78% 94.58% 96.31% 96.41% 95.81% 96.89% 95.72% 91.89% 95.61% 96.06% 95.39% 97.34% 96.74% 96.88%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets demonstrates notable volatility over the analyzed periods. Initial values were low, fluctuating around 0.2% to 1.5%. There was a sharp increase to a peak of 5.18% in September 2017, followed by a decline and subsequent fluctuations. From March 2021 to December 2021, the percentage showed an upward trend, reaching a high of 2.86%, before sharply declining to 0.11% by September 2022.
Restricted cash
This component was not reported in earlier periods but appears from 2020 onwards with small percentages ranging between 0.02% and 0.09%, suggesting limited and steady amounts relative to total assets in recent years.
Accounts receivable, joint interest and other, net
These accounted for less than 1% for most periods, starting at 0.88%, peaking at 1.06% early in 2017, then generally declining with some fluctuation. There was a noticeable dip in late 2020, reaching a low around 0.31%, but a slight recovery occurred afterward.
Accounts receivable, oil and natural gas sales, net
Exhibits moderate variability within a range of approximately 1.2% to over 4.0%. There was a downward trend in 2020 with a minimum of 0.96% in March 2020, followed by a consistent increase reaching a peak of 4.14% in March 2022, before declining modestly in the subsequent quarters.
Inventories
Gradually increased throughout the timeframe, starting near 0.05% and rising steadily with minor fluctuations, arriving at approximately 0.25% by the latest period, reflecting a slow but persistent accumulation relative to total assets.
Derivative instruments
Demonstrated sporadic presence and irregular fluctuations, including a significant peak at 2.28% in December 2019, but generally remained below 1%. More recent periods show small values ranging from 0.03% to 0.41%, indicating a variable but generally modest use of these instruments relative to total assets.
Income tax receivable
Reported only intermittently from 2020 onward, with small percentages between 0.01% and 0.57%, indicating occasional recognition of tax assets.
Assets held for sale
Only appears in a limited number of periods with a value of 0.37% in 2021, suggesting rare classification of assets in this category.
Prepaid expenses and other current assets
Exhibited fluctuations without a clear trend, generally small ranging from 0.05% to 0.60%. Some spikes are visible, specifically in March 2019 (0.27%) and March 2020 (0.60%), but these did not establish a sustained upward movement.
Current assets
Experienced fluctuations between approximately 2.6% and 8.1%. Marked peak occurred in September 2018 at 8.11%, followed by a decline and subsequent stabilization around mid-single digits. The variability reflects dynamic changes in short-term asset composition.
Oil and natural gas properties, full cost method of accounting
This major asset class showed an initial gradual decline from approximately 123.6% in early 2017 to a low roughly around 103.3% in late 2018, followed by a significant increase between 2019 and 2020, peaking around 155.4% in December 2020. Thereafter, it stabilized around 144% to 147%, indicating substantial investment or capitalized costs over time.
Other property, equipment and land
Presented a gradual increase from below 2% in 2017 to approximately 6.5% by late 2020, then a slight decline and stabilization around 5.5% afterward, suggesting incremental additions or revaluation followed by some stabilizing adjustments.
Accumulated depletion, depreciation, amortization and impairment
Displayed a deepening negative balance, starting near -27.8% at the end of 2017, worsening significantly to nearly -70% by late 2020. From 2021 onward, values remained in a narrow band between -57% and -61%, reflecting escalating accumulated charges against assets, consistent with aging asset base and impairment recognition.
Property and equipment, net
Remained relatively stable, fluctuating between approximately 90% and 96% of total assets during the entire period. A mild decline was observable towards the end of the period, suggesting some net asset base reduction or amortization effects.
Funds held in escrow
Displayed minor fluctuations, mostly below 0.3%, appearing sporadically with no sustained trend, indicating limited funds being held in escrow relative to total assets.
Equity method investments
Emerging from zero reported value to a gradual increase up to approximately 2.8% of total assets by 2022, reflecting growing investments accounted for using the equity method.
Deferred income taxes, net
Displayed minor and variable values generally under 1%, with a modest peak near 0.97% in mid-2018, then consistently declining towards roughly 0.14% to 0.31% in later periods, suggesting changes in deferred tax positions.
Investment in real estate, net
Decreased steadily from about 1.33% in 2018 to around 0.36% by late 2022, indicating a gradual disposition or amortization of real estate assets.
Other assets
Remained a small component, ranging generally between 0.2% to 1.0%. A gradual decline over time is present, consistent with minor disposals or reclassifications.
Long-term assets
Accounted for the vast majority of total assets consistently above 90%, showing minor fluctuations but no significant trend changes, underscoring the asset-intensive nature of operations.
Total assets
Consistently normalized to 100% throughout the periods, serving as the base for relative measurements.