Analysis of Reportable Segments
Diamondback Energy Inc. operates in 2 segments: Upstream and Midstream operations.
Segment Profit Margin
Diamondback Energy Inc., profit margin by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Upstream | 57.49% | -201.81% | 20.30% | 50.23% | 51.17% |
| Midstream operations | 42.76% | 42.92% | 48.88% | 43.48% | 61.54% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Upstream | Upstream segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| Midstream operations | Midstream operations segment profit margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: Upstream
Diamondback Energy Inc.; Upstream; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) from operations | 3,879) | (5,562) | 790) | 1,071) | 613) |
| Revenues | 6,747) | 2,756) | 3,891) | 2,132) | 1,198) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 57.49% | -201.81% | 20.30% | 50.23% | 51.17% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Income (loss) from operations ÷ Revenues
= 100 × 3,879 ÷ 6,747 = 57.49%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Upstream | Upstream segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Profit Margin: Midstream operations
Diamondback Energy Inc.; Midstream operations; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) from operations | 180) | 182) | 219) | 80) | 24) |
| Revenues | 421) | 424) | 448) | 184) | 39) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 42.76% | 42.92% | 48.88% | 43.48% | 61.54% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Income (loss) from operations ÷ Revenues
= 100 × 180 ÷ 421 = 42.76%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Midstream operations | Midstream operations segment profit margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Return on Assets (Segment ROA)
Diamondback Energy Inc., ROA by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Upstream | 18.19% | -34.49% | 3.57% | 5.08% | 8.20% |
| Midstream operations | 9.27% | 10.06% | 13.39% | 13.25% | 8.00% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Upstream | Upstream segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| Midstream operations | Midstream operations segment ROA deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment ROA: Upstream
Diamondback Energy Inc.; Upstream; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) from operations | 3,879) | (5,562) | 790) | 1,071) | 613) |
| Total assets | 21,329) | 16,128) | 22,125) | 21,096) | 7,475) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 18.19% | -34.49% | 3.57% | 5.08% | 8.20% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment ROA = 100 × Income (loss) from operations ÷ Total assets
= 100 × 3,879 ÷ 21,329 = 18.19%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Upstream | Upstream segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment ROA: Midstream operations
Diamondback Energy Inc.; Midstream operations; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) from operations | 180) | 182) | 219) | 80) | 24) |
| Total assets | 1,942) | 1,809) | 1,636) | 604) | 300) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 9.27% | 10.06% | 13.39% | 13.25% | 8.00% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment ROA = 100 × Income (loss) from operations ÷ Total assets
= 100 × 180 ÷ 1,942 = 9.27%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Midstream operations | Midstream operations segment ROA deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Asset Turnover
Diamondback Energy Inc., asset turnover by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Upstream | 0.32 | 0.17 | 0.18 | 0.10 | 0.16 |
| Midstream operations | 0.22 | 0.23 | 0.27 | 0.30 | 0.13 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Upstream | Upstream segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| Midstream operations | Midstream operations segment asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Asset Turnover: Upstream
Diamondback Energy Inc.; Upstream; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 6,747) | 2,756) | 3,891) | 2,132) | 1,198) |
| Total assets | 21,329) | 16,128) | 22,125) | 21,096) | 7,475) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.32 | 0.17 | 0.18 | 0.10 | 0.16 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 6,747 ÷ 21,329 = 0.32
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Upstream | Upstream segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover: Midstream operations
Diamondback Energy Inc.; Midstream operations; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 421) | 424) | 448) | 184) | 39) |
| Total assets | 1,942) | 1,809) | 1,636) | 604) | 300) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.22 | 0.23 | 0.27 | 0.30 | 0.13 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 421 ÷ 1,942 = 0.22
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Midstream operations | Midstream operations segment asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Revenues
Diamondback Energy Inc., revenues by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Upstream | 6,747) | 2,756) | 3,891) | 2,132) | 1,198) |
| Midstream operations | 421) | 424) | 448) | 184) | 39) |
| Eliminations | (371) | (367) | (375) | (140) | (32) |
| Total | 6,797) | 2,813) | 3,964) | 2,176) | 1,205) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Income (loss) from operations
Diamondback Energy Inc., income (loss) from operations by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Upstream | 3,879) | (5,562) | 790) | 1,071) | 613) |
| Midstream operations | 180) | 182) | 219) | 80) | 24) |
| Eliminations | (58) | (96) | (314) | (140) | (32) |
| Total | 4,001) | (5,476) | 695) | 1,011) | 605) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Total assets
Diamondback Energy Inc., total assets by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Upstream | 21,329) | 16,128) | 22,125) | 21,096) | 7,475) |
| Midstream operations | 1,942) | 1,809) | 1,636) | 604) | 300) |
| Eliminations | (373) | (318) | (230) | (104) | (4) |
| Total | 22,898) | 17,619) | 23,531) | 21,596) | 7,771) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).