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.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Diamondback Energy Inc., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net income (loss) attributable to Diamondback Energy, Inc. 2,182 (4,517) 240 846 482
Net (income) loss attributable to non-controlling interest 94 (155) 75 99 34
Net noncash charges 1,632 6,693 2,586 615 420
Changes in operating assets and liabilities 36 97 (167) 5 (48)
Net cash provided by operating activities 3,944 2,118 2,734 1,565 889
Drilling, completions and infrastructure additions to oil and natural gas properties (1,457) (1,719) (2,677) (1,461) (793)
Additions to midstream assets (30) (140) (244) (204) (68)
Proceeds from borrowings under credit facilities 1,313 1,130 2,350 2,652 754
Repayments under credit facilities (1,000) (1,478) (3,718) (1,242) (384)
Repayment on Energen’s credit facility (559)
Proceeds from senior notes 2,200 997 3,469 1,062
Repayment of senior notes (3,193) (239) (1,250)
Premium on extinguishment of debt (178) (2) (44)
Free cash flow to equity (FCFE) 1,599 667 620 1,813 398

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Diamondback Energy Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Diamondback Energy Inc. FCFE increased from 2019 to 2020 and from 2020 to 2021.

Price to FCFE Ratio, Current

Diamondback Energy Inc., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 175,998,577
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 1,599
FCFE per share 9.09
Current share price (P) 163.55
Valuation Ratio
P/FCFE 18.00
Benchmarks
P/FCFE, Competitors1
Chevron Corp. 18.44
ConocoPhillips 11.73
Exxon Mobil Corp. 15.92
Marathon Petroleum Corp. 4.03
Occidental Petroleum Corp. 8.00
Valero Energy Corp. 5.55
P/FCFE, Sector
Oil, Gas & Consumable Fuels 27.49
P/FCFE, Industry
Energy 28.42

Based on: 10-K (reporting date: 2021-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Diamondback Energy Inc., historical P/FCFE calculation, comparison to benchmarks

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 177,414,969 158,015,647 158,284,486 164,381,522 98,167,289
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 1,599 667 620 1,813 398
FCFE per share3 9.01 4.22 3.92 11.03 4.05
Share price1, 4 127.89 69.06 59.48 105.29 125.15
Valuation Ratio
P/FCFE5 14.19 16.36 15.19 9.55 30.88
Benchmarks
P/FCFE, Competitors6
Chevron Corp. 32.05 21.61 38.28
ConocoPhillips 10.61 497.58 14.36
Exxon Mobil Corp. 19.82 13.70 16.01
Marathon Petroleum Corp. 65.05 51.11 5.87
Occidental Petroleum Corp. 66.22 1.84
Valero Energy Corp. 12.51 9.57 7.61
P/FCFE, Sector
Oil, Gas & Consumable Fuels 20.61 19.80 11.93
P/FCFE, Industry
Energy 21.56 19.35 12.49

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 Data adjusted for splits and stock dividends.

2 See details »

3 2021 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 1,599,000,000 ÷ 177,414,969 = 9.01

4 Closing price as at the filing date of Diamondback Energy Inc. Annual Report.

5 2021 Calculation
P/FCFE = Share price ÷ FCFE per share
= 127.89 ÷ 9.01 = 14.19

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Diamondback Energy Inc. P/FCFE ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.