Tearsheet

Viper Energy (VNOM)

Market Price (12/23/2025): $38.78 | Market Cap: $5.8 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Viper Energy (VNOM)

Market Price (12/23/2025): $38.78
Market Cap: $5.8 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 5.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.8%	Weak multi-year price returns 2Y Excs Rtn is -7.6%	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -166%
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 42%		Key risks VNOM key risks include [1] its reliance on third-party operators for all acreage development and [2] significant asset concentration in the Permian Basin.
2	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 54%
3	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 68%
4	Low stock price volatility Vol 12M is 36%
5	Megatrend and thematic drivers Megatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 5.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.8%
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 42%
2	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 54%
3	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 68%
4	Low stock price volatility Vol 12M is 36%
5	Megatrend and thematic drivers Megatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies.
6	Weak multi-year price returns 2Y Excs Rtn is -7.6%
7	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -166%
8	Key risks VNOM key risks include [1] its reliance on third-party operators for all acreage development and [2] significant asset concentration in the Permian Basin.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$38.78	$46.32	$27.99
Market Cap CYE ($ Bil)	5.8	4.8	2.3	-	-
Total Debt ($ Bil)	2.6	1.1	1.1	0.6	0.8
Total Cash ($ Bil)	0.1	0.0	0.0	0.0	0.0
Enterprise Value ($ Bil)	8.3	5.9	3.4
Valuation Ratios
P/S TTM	4.9	5.4	2.8	-	-
P/EBIT TTM	22.9	8.0	3.9	-	-
P/E TTM	23.5	12.8	11.6	-	-
P/FCF TTM	-2.9	-60.1	-8.6	-	-
Sector Ratios
P/S TTM (Sector)	1.4	1.5	1.5	1.3	1.3
P/EBIT TTM (Sector)	7.7	6.7	5.7	4.1	4.7
P/E TTM (Sector)	11.2	10.2	8.4	5.5	5.2
P/FCF TTM (Sector)	6.9	7.1	7.4	5.0	5.3

	12/23/25	2024	2023
Share Price CYE	$38.78	$46.32	$27.99
Market Cap CYE ($ Bil)	5.8	4.8	2.3
Total Debt ($ Bil)	2.6	1.1	1.1
Total Cash ($ Bil)	0.1	0.0	0.0
Enterprise Value ($ Bil)	8.3	5.9	3.4
Valuation Ratios
P/S TTM	4.9	5.4	2.8
P/EBIT TTM	22.9	8.0	3.9
P/E TTM	23.5	12.8	11.6
P/FCF TTM	-2.9	-60.1	-8.6
Sector Ratios
P/S TTM (Sector)	1.4	1.5	1.5
P/EBIT TTM (Sector)	7.7	6.7	5.7
P/E TTM (Sector)	11.2	10.2	8.4
P/FCF TTM (Sector)	6.9	7.1	7.4

	VNOM	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	1.2
Rev Chg Q	99.0%	7.3%
Rev Chg LTM	42.3%	6.1%
Rev Chg 3Y Avg	14.4%	5.5%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	0.6
CFO LTM ($ Bil)	0.8
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	54.0%	18.8%
CFO/Rev LTM	68.3%	20.4%
Net Inc Mgn	20.6%	13.1%
VALUATION	MODERATE
P/S	4.9	3.2
P/CFO	7.1	15.7
P/FCF	-2.9	20.7
P/E	23.5	23.5
STABILITY	POOR
Debt/Equity	0.45	0.21
Cash/Assets	0.00	0.07

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Metric	Value	Date	Source
Average Daily Production	108,859 boe/d	9302025	Link
Average Daily Oil Production	56,087 bo/d	9302025	Link
Gross Horizontal Wells Turned to Production	739	9302025	Link
Net Horizontal Wells Turned to Production	15.2	9302025	Link
Average Royalty Interest in Wells Turned to Production	2.1%	9302025	Link
Average Lateral Length of Wells Turned to Production	10,947 feet	9302025	Link
Net Royalty Acres	95846	1142025	Link

Upcoming
2/23/2026	Earnings Release	Rev: - EPS: -

VNOM Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are the key points for why Viper Energy (VNOM) stock moved by -2% for the approximate time period from August 31, 2025, to December 23, 2025: 1. Broad Market Sentiment and Overall Performance: Viper Energy's stock experienced a significant decline over the preceding 12 months, with a year-to-date return of -22.09%. As of December 20, 2025, the overall sentiment for VNOM was "Bearish," and the Fear & Greed Index indicated "Fear" at 39, suggesting a challenging market environment that could contribute to downward pressure.

2. Anticipation of Q3 2025 Financial Results: Leading up to the announcement of its Third Quarter 2025 financial results on November 3, 2025, market participants might have anticipated negative outcomes. The actual results included a consolidated net loss of $197 million and a net loss attributable to Viper of $77 million, or $0.52 per Class A common share.

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Stock Movement Drivers

Fundamental Drivers

The 4.6% change in VNOM stock from 9/22/2025 to 12/22/2025 was primarily driven by a 79.8% change in the company's P/E Multiple.

	9222025	12222025	Change
Stock Price ($)	36.77	38.46	4.60%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	980.75	1188.75	21.21%
Net Income Margin (%)	37.85%	20.63%	-45.50%
P/E Multiple	12.98	23.35	79.81%
Shares Outstanding (Mil)	131.11	148.88	-13.56%
Cumulative Contribution			2.68%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
VNOM	4.6%
Market (SPY)	2.7%	24.6%
Sector (XLE)	0.9%	77.8%

Fundamental Drivers

The 2.4% change in VNOM stock from 6/23/2025 to 12/22/2025 was primarily driven by a 101.1% change in the company's P/E Multiple.

	6232025	12222025	Change
Stock Price ($)	37.57	38.46	2.38%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	899.75	1188.75	32.12%
Net Income Margin (%)	43.48%	20.63%	-52.56%
P/E Multiple	11.61	23.35	101.08%
Shares Outstanding (Mil)	120.93	148.88	-23.12%
Cumulative Contribution			-3.10%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
VNOM	2.4%
Market (SPY)	14.4%	28.5%
Sector (XLE)	3.7%	72.4%

Fundamental Drivers

The -14.5% change in VNOM stock from 12/22/2024 to 12/22/2025 was primarily driven by a -58.9% change in the company's Shares Outstanding (Mil).

	12222024	12222025	Change
Stock Price ($)	44.97	38.46	-14.47%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	835.58	1188.75	42.27%
Net Income Margin (%)	24.65%	20.63%	-16.31%
P/E Multiple	20.46	23.35	14.14%
Shares Outstanding (Mil)	93.69	148.88	-58.90%
Cumulative Contribution			-44.14%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
VNOM	-14.5%
Market (SPY)	16.9%	54.4%
Sector (XLE)	8.6%	79.2%

Fundamental Drivers

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Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
VNOM	37.1%
Market (SPY)	47.7%	44.7%
Sector (XLE)	10.2%	72.4%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
VNOM Return	�	�	�	�	65%	-18%	�
Peers Return	-23%	70%	86%	-13%	58%	�	�
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
VNOM Win Rate	�	�	�	100%	58%	17%
Peers Win Rate	46%	50%	71%	46%	62%	41%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
VNOM Max Drawdown	�	�	�	�	-3%	-24%
Peers Max Drawdown	-63%	0%	-10%	-30%	-8%	-19%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: TPL, BSM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

VNOM has limited trading history. Below is the Energy sector ETF (XLE) in its place.

Unique Key	Event	XLE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-26.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	36.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	116 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-60.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	153.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	660 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-31.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	46.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	1,201 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-57.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	137.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,858 days	1,480 days

Compare to

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 6/8/2022. A -26.9% loss requires a 36.7% gain to breakeven.

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About Viper Energy (VNOM)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Viper Energy, Inc. owns, acquires, and exploits oil and natural gas properties in North America. It owns and acquires mineral and royalty interests in oil and natural gas properties primarily in the Permian Basin. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc. in November 2023. The company was founded in 2013 and is based in Midland, Texas. Viper Energy, Inc. is a subsidiary of Diamondback Energy, Inc.

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Here are 1-2 brief analogies to describe Viper Energy (VNOM):

Similar to American Tower (AMT), but for oil and gas mineral rights instead of cell towers.
Similar to Dolby (DLB), but for underground oil and gas reserves instead of audio technology.

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Oil Royalty Income: Revenue generated from a percentage share of oil produced by third-party operators on properties where Viper Energy owns mineral and royalty interests.
Natural Gas Royalty Income: Revenue generated from a percentage share of natural gas produced by third-party operators on properties where Viper Energy owns mineral and royalty interests.
Natural Gas Liquids (NGL) Royalty Income: Revenue generated from a percentage share of natural gas liquids produced by third-party operators on properties where Viper Energy owns mineral and royalty interests.

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Major Customers of Viper Energy (VNOM)

Viper Energy Partners LP (VNOM) generates revenue through its ownership of mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin. As a non-operating interest holder, Viper Energy does not directly drill wells or market the produced hydrocarbons. Instead, various operators produce and sell the oil, natural gas, and natural gas liquids (NGLs) from properties where VNOM holds interests, and VNOM receives a royalty percentage of these sales.

Based on Viper Energy's Annual Report on Form 10-K for the year ended December 31, 2023, the sales of oil, natural gas, and NGLs attributable to its mineral and royalty interests are primarily made to other companies, specifically:

Pipeline companies
Refiners
Other marketers

However, the Form 10-K explicitly states that no single purchaser of crude oil, natural gas, or NGLs represented 10% or more of Viper Energy's oil, natural gas, and NGL revenues during the years ended December 31, 2023, 2022, and 2021.

Therefore, while Viper Energy's revenue is ultimately derived from sales of hydrocarbons to other companies, there are no individual "major customers" (i.e., those accounting for 10% or more of revenue) that can be identified by name and public symbol based on publicly available information.

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Diamondback Energy, Inc. (FANG)

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Kaes Van't Hof Chief Executive Officer and Director

Mr. Van't Hof has served as Chief Executive Officer of Viper Energy since February 2025. Prior to this, he was President from March 2017 to February 2025 and a director since November 2023. He joined Diamondback Energy, Viper's parent company, in July 2016 as Vice President of Strategy and Corporate Development, advancing to Senior Vice President of Strategy and Corporate Development in February 2017. Before his tenure at Diamondback, Mr. Van't Hof was CEO of Bison Drilling and Field Services from September 2012 to June 2016. He also worked as an analyst for Wexford Capital, LP, where he was involved in developing operating models and business plans, including for Viper's initial public offering, from August 2011 to August 2012. He previously worked in the Investment Banking-Financial Institutions Group of Citigroup Global Markets, Inc. from February 2010 to July 2011. Mr. Van't Hof was also a professional tennis player from May 2008 to January 2010. He received a Bachelor of Science in Accounting and Business Administration from the University of Southern California.

Teresa L. Dick Executive Vice President, Chief Financial Officer, and Assistant Secretary

Ms. Dick has served as Chief Financial Officer, Executive Vice President, and Assistant Secretary of Viper Energy since February 2017. Prior to this, she was Chief Financial Officer, Senior Vice President, and Assistant Secretary from February 2014 to February 2017. She has also served as Diamondback Energy's Executive Vice President and Chief Accounting Officer since March 2019. Her roles at Diamondback Energy also include Executive Vice President and Chief Financial Officer from February 2017 to February 2019, Assistant Secretary since October 2012, Chief Financial Officer and Senior Vice President from November 2009 to February 2017, and Corporate Controller from November 2007 until November 2009. From June 2006 to November 2007, Ms. Dick was the Controller/Tax Director at Hiland Partners, a publicly traded midstream energy master limited partnership. She has over 25 years of accounting experience, including in public company audit and tax. Since March 2021, Ms. Dick has served as a director of The Bank7 Corp. (Nasdaq: BSVN). She is a Certified Public Accountant and holds a Bachelor of Business Administration in Accounting from the University of Northern Colorado.

Austen Gilfillian President

Mr. Gilfillian has served as President of Viper Energy since February 2025. He previously held the position of Vice President of Viper from April 2024 to February 2025, and General Manager from February 2022 to February 2024. Before his roles at Viper, he served in various capacities within Diamondback Energy's finance group, which he joined in September 2017. Mr. Gilfillian earned a Bachelor of Science in Business Administration and Economics from Trinity University.

Al Barkmann Executive Vice President and Chief Engineer

Mr. Barkmann has served as Executive Vice President and Chief Engineer of Viper Energy. He holds a Bachelor of Science in Petroleum from Louisiana State University.

Matt Zmigrosky Executive Vice President, General Counsel, and Secretary

Mr. Zmigrosky has served as Executive Vice President, General Counsel, and Secretary for Viper Energy's General Partner. He received a Bachelor of Science in Management degree in finance from Tulane University and a Juris Doctorate degree from Southern Methodist University Dedman School of Law.

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The key risks to Viper Energy's (VNOM) business are primarily related to its operational model and market exposure:

Commodity Price Volatility: Viper Energy's revenue is directly and heavily dependent on the fluctuating prices of oil and natural gas. Sustained lower commodity prices can significantly impact its royalty revenue and overall financial performance.
Lack of Control Over Acreage Development/Third-Party Reliance: As a mineral and royalty interest owner, Viper Energy relies on third-party operators, predominantly Diamondback Energy, for drilling and production activities on its acreage. This means Viper Energy has no direct control over the pace, methods, or costs of these operations, which can affect its production volumes and ultimately its cash flow.
Asset Concentration in the Permian Basin: Viper Energy's asset portfolio is highly concentrated in the Permian Basin. While a prolific region, this geographic concentration exposes the company to region-specific risks, including potential regulatory changes, infrastructure constraints, environmental issues, or other operational challenges unique to that area.

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The accelerated global energy transition, characterized by rapid advancements and adoption of renewable energy sources, electrification of transport and industry, and increasing governmental and societal pressure to decarbonize. This trend poses a significant long-term threat to Viper Energy's underlying asset value by potentially leading to:

Sustained lower demand and prices for oil and natural gas: As renewable energy sources become more prevalent and cost-competitive, and energy efficiency improves, the overall demand for fossil fuels could decline more rapidly than anticipated, impacting the commodity prices on which VNOM's royalties depend.
Increased regulatory burdens and carbon pricing: Governments globally are implementing stricter environmental regulations and carbon pricing mechanisms. While VNOM is a royalty owner and not an operator, these measures increase costs for the operators on their acreage, potentially reducing their incentive to drill or their overall profitability, thus affecting VNOM's royalty streams.
Restricted access to capital for fossil fuel development: Growing ESG (Environmental, Social, and Governance) pressures are leading to divestment campaigns and reduced lending from financial institutions to companies involved in fossil fuel exploration and production. This can hinder the ability of operators on VNOM's land to secure funding for future drilling and development, impacting long-term production volumes.

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Viper Energy (NASDAQ: VNOM) primarily focuses on owning, acquiring, and exploiting mineral and royalty interests in oil and natural gas properties, predominantly within the Permian Basin in the United States. The company generates revenue through royalty payments from the production of crude oil, natural gas, and natural gas liquids (NGLs) from these properties.

The addressable market for Viper Energy can be contextualized by the overall value of oil and natural gas production in the Permian Basin, from which the company derives its royalties. The U.S. oil and gas market size is projected to be approximately $1.61 trillion in 2025 and is expected to grow to around $2.24 trillion by 2034. The Permian Basin segment alone accounted for a significant 44% share of the U.S. oil and gas market in 2024.

Based on this, the estimated addressable market for oil and gas production in the Permian Basin, which is the primary region for Viper Energy's operations, is approximately $708.4 billion in 2025 (44% of $1.61 trillion). This market size is for the United States, specifically concentrated in the Permian Basin, which spans West Texas and southeastern New Mexico.

For additional context, the Permian Basin's oil and natural gas activity contributed an estimated $181.8 billion in Gross Domestic Product (GDP) in a report from August 2023. Furthermore, the Texas oil and natural gas industry, encompassing the Permian Basin, paid $26.3 billion in state and local taxes and state royalties in fiscal year 2023. Private royalty income from onshore oil and gas production in the continental U.S. was estimated at $21–22 billion in 2011 and 2012, with private mineral owners accounting for roughly 75% of total production in recent years. Royalty rates in the Permian Basin typically range from 18% to 20%.

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Here are the expected drivers of future revenue growth for Viper Energy (VNOM) over the next 2-3 years:

Organic Production Growth in the Permian Basin: Viper Energy anticipates mid-single-digit organic oil production growth in 2026, with an implied 20% year-over-year increase in oil production for the fourth quarter of 2025. This growth is primarily driven by development activity from both Diamondback Energy (its parent company) and third-party operators within its core Permian Basin acreage.
Accretive Acquisitions: The completion of strategic acquisitions, such as the Sitio Royalties Corp. acquisition, is expected to significantly increase Viper's scale and inventory depth, supporting its production profile for the next decade. This expansion through acquisitions is a key component of their growth strategy.
Strategic Focus on High-Value Permian Assets: Viper Energy's strategy includes divesting non-Permian Basin assets to concentrate on its higher-margin and higher-growth Permian operations. This focus is intended to enhance overall value and drive more efficient revenue generation from its core assets.
Favorable Commodity Prices: As a mineral and royalty interest company, Viper Energy's revenue is directly influenced by the prices of oil and natural gas. Strong oil price realizations, particularly at levels approximating the West Texas Intermediate (WTI) benchmark, are expected to contribute positively to the company's revenue outcomes.

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Share Repurchases

Since the initiation of its common stock repurchase program on November 9, 2020, through October 31, 2025, Viper Energy repurchased approximately 16.9 million shares for an aggregate purchase price of about $448 million.
As of October 31, 2025, approximately $302 million remained on its current share buyback authorization.
During the third quarter of 2025, Viper repurchased 2.4 million shares of Class A common stock for an aggregate purchase price of approximately $90 million.

Share Issuance

On January 30, 2025, Viper Energy announced an underwritten public offering of 22 million shares of its Class A common stock, with an option for underwriters to purchase an additional 3.3 million shares.
The net proceeds from this offering were primarily intended to fund a portion of the cash consideration for a pending acquisition of mineral and royalty interests from its parent company, Diamondback Energy.
Recent stock issuance, particularly related to the Sitio acquisition, has impacted Viper Energy's share price.

Outbound Investments

Viper Energy completed the acquisition of Sitio Royalties in an all-equity transaction valued at approximately $4.1 billion, including $1.1 billion in net debt.
On May 1, 2025, Viper Energy's operating subsidiary acquired all equity interests of certain mineral and royalty subsidiaries from Diamondback Energy for $1.0 billion.

Capital Expenditures

As a mineral and royalty company, Viper Energy generally incurs no drilling and completion costs or exploration losses.
The company's business model is characterized by zero capital expenditures and limited operating costs.
Viper Energy's net change in investments for the twelve months ending June 30, 2025, was reported as $0 million.

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OKE (16.4%)

ONEOK

FTI (14.5%)

TechnipFMC

Higher Op Mgn LTM (Value for VNOM: 54.0%)

PBT (88.5%)

Permian Basin Royalty Trust

TPL (75.8%)

Texas Pacific Land

HESM (62.1%)

Hess Midstream

LB (57.3%)

LandBridge

AM (56.2%)

Antero Midstream

Higher CFO/Rev LTM (Value for VNOM: 68.3%)

GLNG (154.4%)

Golar LNG

DTM (73.0%)

DT Midstream

AM (72.8%)

Antero Midstream

TPL (72.3%)

Texas Pacific Land

PR (68.9%)

Permian Resources

Higher FCF/Rev LTM (Value for VNOM: -165.8%)

WMB (15.0%)

Williams Companies

COP (11.9%)

ConocoPhillips

CVX (8.2%)

Chevron

XOM (7.3%)

Exxon Mobil

ENB (6.3%)

Enbridge

Higher Total Yield (Value for VNOM: 10.0%)

CNQ (16.9%)

Canadian Natural Resources

ENB (13.9%)

Enbridge

EOG (13.7%)

EOG Resources

TRP (12.5%)

TC Energy

COP (10.9%)

ConocoPhillips

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for VNOM: 14.4% | 4.8x)

BRK-B (19.8% | 2.7x)

Berkshire Hathaway

UBER (19.6% | 3.4x)

Uber Technologies

PGR (20.6% | 1.6x)

Progressive

MELI (39.5% | 3.9x)

MercadoLibre

APO (89.3% | 3.2x)

Apollo Asset Management

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VNOM: 14.4% | 8.9x)

VICI (23.5% | 8.1x)

VICI Properties

IBKR (48.1% | 3.5x)

Interactive Brokers

LTM (17.3% | 7.6x)

LATAM Airlines

JEF (14.6% | 2.9x)

Jefferies Financial

NCLH (43.8% | 6.9x)

Norwegian Cruise Line

Higher Rev Chg LTM (Value for VNOM: 42.3%)

APP (86.4%)

AppLovin

NVDA (65.2%)

NVIDIA

APH (47.4%)

Amphenol

PLTR (47.2%)

Palantir Technologies

MU (45.4%)

Micron Technology

Higher Rev Chg 3Y Avg (Value for VNOM: 14.4%)

NVDA (91.6%)

NVIDIA

AVGO (25.2%)

Broadcom

LLY (23.4%)

Eli Lilly

BRK-B (19.8%)

Berkshire Hathaway

META (17.3%)

Meta Platforms

Higher Op Mgn LTM (Value for VNOM: 54.0%)

V (66.4%)

Visa

CME (65.0%)

CME

MO (59.0%)

Altria

NVDA (58.8%)

NVIDIA

MA (58.3%)

Mastercard

Higher CFO/Rev LTM (Value for VNOM: 68.3%)

IBKR (162.0%)

Interactive Brokers

ARES (85.1%)

Ares Management

FNV (84.7%)

Franco-Nevada

RY (83.0%)

Royal Bank of Canada

BAM (75.6%)

Brookfield Asset Management

Higher FCF/Rev LTM (Value for VNOM: -165.8%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

AMZN (2.0%)

Amazon.com

Higher Total Yield (Value for VNOM: 10.0%)

VZ (18.5%)

Verizon Communications

PFE (13.6%)

Pfizer

TD (13.0%)

Toronto-Dominion Bank

T (12.8%)

AT&T

MRK (10.4%)

Merck

		Best Bets In Energy Sector
	VNOM	TPL	AM	MGY	INSW	DTM	CTRA	WHD	EQT	EOG	CRC
What You Pay
P/E	23.3	14.6	17.8	11.8	11.1	30.1	11.8	18.3	18.8	10.1	9.5
P/EBIT	22.7	11.9	10.1	8.7	9.4	16.9	8.7	12.3	10.7	7.7	5.8
What You Get
Rev Chg Q	99.0%	17.0%	8.7%	-2.5%	-12.8%	26.6%	33.7%	-10.0%	49.8%	-2.3%	-11.9%
Rev Chg LTM	42.3%	12.5%	8.7%	0.7%	-23.6%	20.4%	25.1%	-3.8%	64.8%	-5.0%	33.9%
Rev Chg 3Y Avg	14.4%	5.7%	9.0%	-6.6%	16.7%	9.6%	-5.3%	22.9%	-2.8%	-7.6%	5.3%
FCF/Rev 3Y Avg	-51.8%	47.9%	46.6%	33.7%	29.6%	25.8%	24.8%	23.5%	23.5%	22.1%	22.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Viper Energy Earnings Notes
2	Viper Energy Earnings Notes
3	Can Viper Energy Stock Recover If Markets Fall?	Return
4	How Does Viper Energy Stock Stack Up Against Its Peers?	Peer Comparison
5	Better Bet Than VNOM Stock: Pay Less Than Viper Energy To Get More From UAL, IBKR
6	Better Bet Than VNOM Stock: Pay Less Than Viper Energy To Get More From CRGY, PR
7	Why Viper Energy Stock Moved: VNOM Stock Has Gained 37% Since 2023 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
8	Viper Energy (VNOM) Valuation Ratios Comparison	Financials
9	Viper Energy (VNOM) Operating Cash Flow Comparison	Financials
10	Viper Energy (VNOM) Net Income Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to VNOM. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	12.1%	12.1%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	6.1%	6.1%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.5%	7.5%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	29.1%	29.1%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-3.9%	-3.9%	-7.1%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for Viper Energy

Peers to compare with:

Financials

	VNOM	TPL	BSM	Median
Name	Viper En.	Texas Pa.	Black St.
Mkt Price	38.46	302.80	-	170.63
Mkt Cap	5.7	7.0	-	6.3
Rev LTM	1,189	772	431	772
Op Inc LTM	642	585	278	585
FCF LTM	-1,971	236	224	224
FCF 3Y Avg	-630	323	371	323
CFO LTM	812	559	336	559
CFO 3Y Avg	699	491	437	491

Growth & Margins

	VNOM	TPL	BSM	Median
Name	Viper En.	Texas Pa.	Black St.
Rev Chg LTM	42.3%	12.5%	-8.5%	12.5%
Rev Chg 3Y Avg	14.4%	5.7%	-16.4%	5.7%
Rev Chg Q	99.0%	17.0%	1.9%	17.0%
QoQ Delta Rev Chg LTM	21.2%	4.0%	0.5%	4.0%
Op Mgn LTM	54.0%	75.8%	64.3%	64.3%
Op Mgn 3Y Avg	66.3%	76.7%	66.2%	66.3%
QoQ Delta Op Mgn LTM	-5.0%	-0.1%	1.0%	-0.1%
CFO/Rev LTM	68.3%	72.3%	77.9%	72.3%
CFO/Rev 3Y Avg	74.4%	70.9%	88.7%	74.4%
FCF/Rev LTM	-165.8%	30.5%	52.0%	30.5%
FCF/Rev 3Y Avg	-51.8%	47.9%	73.9%	47.9%

Valuation

	VNOM	TPL	BSM	Median
Name	Viper En.	Texas Pa.	Black St.
Mkt Cap	5.7	7.0	-	6.3
P/S	4.8	9.0	-	6.9
P/EBIT	22.7	11.9	-	17.3
P/E	23.3	14.6	-	19.0
P/CFO	7.1	12.5	-	9.8
Total Yield	10.0%	9.0%	-	9.5%
Dividend Yield	5.7%	2.1%	-	3.9%
FCF Yield 3Y Avg	-	1.9%	-	1.9%
D/E	0.5	0.0	-	0.2
Net D/E	0.4	-0.1	-	0.2

Returns

	VNOM	TPL	BSM	Median
Name	Viper En.	Texas Pa.	Black St.
1M Rtn	6.9%	-66.2%	-	-29.6%
3M Rtn	4.6%	-65.4%	-	-30.4%
6M Rtn	2.4%	-71.1%	-	-34.3%
12M Rtn	-14.5%	-73.1%	-	-43.8%
3Y Rtn	-	-62.5%	-	-62.5%
1M Excs Rtn	2.1%	-70.9%	-	-34.4%
3M Excs Rtn	-1.9%	-70.8%	-	-36.3%
6M Excs Rtn	-10.3%	-84.2%	-	-47.3%
12M Excs Rtn	-32.7%	-89.8%	-	-61.3%
3Y Excs Rtn	-	-141.1%	-	-141.1%

Comparison Analyses

	Title
0	How Does Viper Energy Stock Stack Up Against Its Peers?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/5/2025	2/26/2025	2/22/2024	2/23/2023	2/24/2022	2/25/2021	2/18/2020
Key Financials
Total Revenue	1,189	860	827	866	504	250	298
EBITDA	689	792	741	783	395	83	279
Operating Income	642	566	620	680	362	122	194
Net Income	245	359	200	152	58	-192	46
EPS	2.42	3.82	2.69	2.00	0.85	-2.84	0.75
Growth Rates
Total Revenue Growth	42.3%	4.0%	-4.5%	71.7%	102.1%	-16.2%	3.2%
EBITDA Growth	-10.6%	6.9%	-5.4%	98.2%	378.8%	-70.4%	6.0%
Operating Income Growth	13.5%	-8.7%	-8.9%	88.2%	196.1%	-36.9%	-4.7%
Net Income Growth	19.1%	79.5%	31.9%	161.8%	130.1%	-515.5%	-67.9%
Margins
EBITDA Margin	58.0%	92.1%	89.6%	90.5%	78.4%	33.1%	93.6%
Operating Income Margin	54.0%	65.9%	75.0%	78.6%	71.7%	48.9%	65.0%
Net Income Margin	20.6%	41.8%	24.2%	17.5%	11.5%	-77.1%	15.5%
Cash & Debt
Total Cash	53	27	26	18	39	19	4
Total Debt	2,621	1,083	1,083	577	777	556	587
Net Debt / (Cash)	2,568	1,056	1,057	559	737	537	583
Cash Flows
Net Cash from Operations	812	620	638	700	307	197	237
Free Cash from Operations	-1,971	-77	-270	636	26	131	-294
Returns to Shareholders
Dividends	612	474	325	417	177	108	240
Share Repurchases	90	-0	95	151	46	24	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/5/2025	8/6/2025	5/7/2025	2/26/2025	11/7/2024	8/5/2024	5/2/2024	2/22/2024	11/8/2023	8/3/2023	5/3/2023	2/23/2023
Key Financials Quarterly
Total Revenue	418	297	245	229	210	216	205	205	293	161	169	203
Ebitda	-9	230	254	214	198	201	179	193	276	134	138	191
Operating Income	199	145	155	143	136	148	139	143	243	112	122	159
Net Income	-77	37	75	210	49	57	43	57	79	31	34	22
EPS	-0.52	0.28	0.62	2.04	0.52	0.62	0.49	0.70	1.11	0.42	0.47	0.29
Key Financials TTM
Total Revenue TTM	1,189	981	900	860	836	919	863	827	826	754	833	866
Ebitda TTM	689	896	867	792	771	849	782	741	740	668	754	783
Operating Income TTM	642	579	582	566	566	673	637	620	636	567	644	680
Net Income TTM	245	371	391	359	206	236	209	200	165	166	169	152
Growth Rates Quarterly
Total Revenue Growth	99.0%	37.5%	19.5%	11.8%	-28.3%	34.5%	21.6%	0.6%	32.4%	-32.8%	-16.5%	22.8%
EBITDA Growth	-104.5%	14.4%	41.9%	11.2%	-28.3%	50.5%	29.4%	0.7%	34.9%	-39.2%	-17.5%	22.4%
Operating Income Growth	46.3%	-2.0%	11.5%	0.3%	-44.0%	32.0%	13.6%	-10.1%	40.0%	-40.8%	-22.9%	26.0%
Net Income Growth	-257.1%	-35.1%	74.4%	269.0%	-37.7%	86.6%	26.6%	162.5%	-0.9%	-10.2%	104.6%	-45.0%
Margins Quarterly
EBITDA Margin	-2.2%	77.4%	103.7%	93.6%	94.3%	93.1%	87.3%	94.2%	94.3%	83.2%	82.1%	94.0%
Operating Income Margin	47.6%	48.8%	63.3%	62.7%	64.8%	68.5%	67.8%	69.9%	82.9%	69.8%	72.6%	78.2%
Net Income Margin	-18.4%	12.5%	30.6%	91.9%	23.3%	26.4%	21.0%	27.8%	26.8%	19.0%	20.2%	10.7%
Cash & Debt
Total Cash	53	28	560	27	169	35	20	26	147	13	9	18
Total Debt	2,621	1,098	822	1,083	822	998	1,094	1,083	676	649	695	577
Net Debt / (Cash)	2,568	1,070	262	1,056	653	963	1,074	1,057	529	636	686	559
Cash Flows Quarterly
FCF from Operations	281	172	201	158	203	144	115	146	240	145	107	187
Cash Flows TTM
FCF from Operations TTM	812	734	706	620	608	645	646	638	679	653	671	700
Returns to Shareholders Quarterly
Dividends	159	184	144	125	124	114	111	113	66	62	85	83
Share Repurchases	90	-0	-0	-0	-0	-0	-0	28	10	25	33	32
Return on Invested Capital (ROIC) Quarterly
ROIC	9.7%	12.1%	19.3%	21.9%	22.4%	26.0%	22.6%	26.1%	166.1%	63.7%	64.5%	110.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	8.8%	13.1%	20.6%	21.6%	24.5%	29.6%	26.7%	27.2%	110.8%	89.1%	93.9%	121.8%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Oil income	619	667	398	218	264
Lease bonus income-related party	108	23
Natural gas liquids income	67	88	55	20	21
Natural gas income	31	83	49	9	8
Lease bonus income	2	4	3	3	4
Total	827	866	504	250	298

Price Behavior

Price Behavior

Market Price	$38.46
Market Cap ($ Bil)	5.0
First Trading Date	11/13/2023
Distance from 52W High	-20.8%
	50 Days	200 Days
DMA Price	$37.47	$38.25
DMA Trend	down	indeterminate
Distance from DMA	2.6%	0.5%
	3M	1YR
Volatility	27.7%	35.7%
Downside Capture	25.23	91.14
Upside Capture	43.72	61.78
Correlation (SPY)	23.8%	54.1%

VNOM Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.70	0.74	0.60	0.65	1.00	0.01
Up Beta	0.02	0.25	0.38	0.97	0.93	0.05
Down Beta	1.73	1.37	1.25	0.97	1.45	-0.13
Up Capture	65%	42%	10%	21%	37%	15%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	21	30	60	116	263
Down Capture	77%	77%	62%	63%	97%	68%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	20	31	64	131	244

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

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Based On 5-Year Data

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Based On 10-Year Data

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Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	10,506,712
Short Interest: % Change Since 11152025	-0.9%
Average Daily Volume	1,441,866
Days-to-Cover Short Interest	7.29
Basic Shares Quantity	148,882,000
Short % of Basic Shares	7.1%

Returns Analyses

	Title
0	Can Viper Energy Stock Recover If Markets Fall?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/3/2025	-3.0%	-0.3%	7.5%
SUMMARY STATS
# Positive	0	0	1
# Negative	1	1	0
Median Positive			7.5%
Median Negative	-3.0%	-0.3%
Max Positive			7.5%
Max Negative	-3.0%	-0.3%

	Forward Returns
11/3/2025	-3.0%	-0.3%	7.5%
SUMMARY STATS
# Positive	0	0	1
# Negative	1	1	0
Median Positive			7.5%
Median Negative	-3.0%	-0.3%
Max Positive			7.5%
Max Negative	-3.0%	-0.3%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11052025	10-Q 9/30/2025
6302025	8062025	10-Q 6/30/2025
3312025	5072025	10-Q 3/31/2025
12312024	2262025	10-K 12/31/2024
9302024	11072024	10-Q 9/30/2024
6302024	8052024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2222024	10-K 12/31/2023
9302023	11082023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5032023	10-Q 3/31/2023
12312022	2232023	10-K 12/31/2022
9302022	11082022	10-Q 9/30/2022
6302022	8032022	10-Q 6/30/2022
3312022	5052022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Viper Energy (VNOM)

Market Price (12/23/2025): $38.78 | Market Cap: $5.8 BilSector: Energy | Industry: Oil & Gas Storage & Transportation

Viper Energy (VNOM)

Market Price (12/23/2025): $38.78Market Cap: $5.8 BilSector: EnergyIndustry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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VNOM Stock

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INDUSTRY: Oil & Gas Storage & Transportation

Higher Rev Chg 3Y Avg | Lower P/S (Values for VNOM: 14.4% | 4.8x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VNOM: 14.4% | 8.9x)

Higher Rev Chg LTM (Value for VNOM: 42.3%)

Higher Rev Chg 3Y Avg (Value for VNOM: 14.4%)

Higher Op Mgn LTM (Value for VNOM: 54.0%)

Higher CFO/Rev LTM (Value for VNOM: 68.3%)

Higher FCF/Rev LTM (Value for VNOM: -165.8%)

Higher Total Yield (Value for VNOM: 10.0%)

SECTOR: Energy

Higher Rev Chg 3Y Avg | Lower P/S (Values for VNOM: 14.4% | 4.8x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VNOM: 14.4% | 8.9x)

Higher Rev Chg LTM (Value for VNOM: 42.3%)

Higher Rev Chg 3Y Avg (Value for VNOM: 14.4%)

Higher Op Mgn LTM (Value for VNOM: 54.0%)

Higher CFO/Rev LTM (Value for VNOM: 68.3%)

Higher FCF/Rev LTM (Value for VNOM: -165.8%)

Higher Total Yield (Value for VNOM: 10.0%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for VNOM: 14.4% | 4.8x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VNOM: 14.4% | 8.9x)

Higher Rev Chg LTM (Value for VNOM: 42.3%)

Higher Rev Chg 3Y Avg (Value for VNOM: 14.4%)

Higher Op Mgn LTM (Value for VNOM: 54.0%)

Higher CFO/Rev LTM (Value for VNOM: 68.3%)

Higher FCF/Rev LTM (Value for VNOM: -165.8%)

Higher Total Yield (Value for VNOM: 10.0%)

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Market Price (12/23/2025): $38.78 | Market Cap: $5.8 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Market Price (12/23/2025): $38.78
Market Cap: $5.8 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation