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Stocks · Energy · Crude Petroleum & Natural Gas

Diversified Energy Co

DEC Clue Score42
United States Fiscal year ends December CIK 0001922446
$14.16 +2.39% Close, 12 Oct 2026
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Price $14.16 +9.26% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 18 Dec 2023. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2021Revenue1,007.6Operating income−467.1Net income−325.5EPS, diluted−8.20Fiscal year 2022Revenue1,919.3 +90.5%Operating income−671.4Net income−625.4EPS, diluted−14.82Fiscal year 2023Revenue1,948.8 +1.5%Operating income1,109.0Net income748.7EPS, diluted15.76Fiscal year 2024Revenue757.3 −61.1%Operating income−97.1Net income−104.4 −113.9%EPS, diluted−2.17Fiscal year 2025Revenue1,829.1 +141.5%Operating income535.0Net income341.1EPS, diluted4.58
FY2021FY2022FY2023FY2024FY2025
Revenue 1,007.6 1,919.3 1,948.8 757.3 1,829.1
Growth +90.5% +1.5% −61.1% +141.5%
Operating income −467.1 −671.4 1,109.0 −97.1 535.0
Net income −325.5 −625.4 748.7 −104.4 341.1
Growth −113.9%
EPS, diluted −8.20 −14.82 15.76 −2.17 4.58

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2021Gross margin54.5%Operating margin−46.4%Net margin−32.3%Fiscal year 2022Gross margin65.2%Operating margin−35.0%Net margin−32.6%Fiscal year 2023Gross margin10.4%Operating margin56.9%Net margin38.4%Free cash flow margin11.1%Fiscal year 2024Gross margin14.5%Operating margin−12.8%Net margin−13.8%Free cash flow margin22.3%Fiscal year 2025Operating margin29.2%Net margin18.6%Free cash flow margin15.3%
FY2021FY2022FY2023FY2024FY2025
Gross margin 54.5% 65.2% 10.4% 14.5% n/a
Operating margin −46.4% −35.0% 56.9% −12.8% 29.2%
Net margin −32.3% −32.6% 38.4% −13.8% 18.6%
Free cash flow margin n/a n/a 11.1% 22.3% 15.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2021Operating cash flow320.2Buybacks0.0Dividends paid−130.2Fiscal year 2022Operating cash flow387.8Buybacks−22.9Dividends paid−143.5Fiscal year 2023Operating cash flow291.4Capital expenditure−74.3Free cash flow217.2Buybacks0.0Dividends paid−168.0Fiscal year 2024Operating cash flow220.7Capital expenditure−52.1Free cash flow168.6 −22.4%Buybacks−5.2Dividends paid−83.9Fiscal year 2025Operating cash flow464.6Capital expenditure−184.6Free cash flow280.0 +66.1%Dividends paid−85.0
FY2021FY2022FY2023FY2024FY2025
Operating cash flow 320.2 387.8 291.4 220.7 464.6
Capital expenditure n/a n/a −74.3 −52.1 −184.6
Free cash flow n/a n/a 217.2 168.6 280.0
Growth −22.4% +66.1%
Buybacks 0.0 −22.9 0.0 −5.2 n/a
Dividends paid −130.2 −143.5 −168.0 −83.9 −85.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2021Cash12.6Shareholders’ equity664.0Fiscal year 2022Cash62.7Total debt1,440.3Net cash (debt)−1,377.6Shareholders’ equity−189.7Fiscal year 2023Cash3.8Total debt1,276.6Net cash (debt)−1,272.9Shareholders’ equity537.7Debt to equity2.37Fiscal year 2024Cash6.0Total debt1,704.9Net cash (debt)−1,698.9Shareholders’ equity400.1Debt to equity4.26Fiscal year 2025Cash29.7Total debt2,952.0Net cash (debt)−2,922.3Shareholders’ equity984.1Debt to equity3.00
FY2021FY2022FY2023FY2024FY2025
Cash 12.6 62.7 3.8 6.0 29.7
Total debt n/a 1,440.3 1,276.6 1,704.9 2,952.0
Net cash (debt) n/a −1,377.6 −1,272.9 −1,698.9 −2,922.3
Shareholders’ equity 664.0 −189.7 537.7 400.1 984.1
Debt to equity n/a n/a 2.37 4.26 3.00

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025† 31 Dec 2025
Revenue and profit
1,007.6 1,919.3 1,948.8 757.3 1,829.1
Growth +90.5% +1.5% −61.1% +141.5%
548.7 1,251.2 203.2 109.5 n/a
Growth +128.0% −83.8% −46.1%
102.3 170.7 119.7 129.1 n/a
−467.1 −671.4 1,109.0 −97.1 535.0
Growth −108.8%
−550.9 −799.5 989.6 −247.9 301.3
−225.7 −178.9 239.2 −144.8 −40.6
−325.5 −625.4 748.7 −104.4 341.1
Growth −113.9%
Per share
−8.20 −14.82 15.87 −2.17 4.67
−8.20 −14.82 15.76 −2.17 4.58
Growth −113.8%
39.7 42.2 47.2 48.0 73.0
39.7 42.2 47.5 48.0 74.5
Growth +6.4% +12.6% +1.1% +55.1%

† The diluted share count jumps at 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • A net loss in 3 of 5 years on file.