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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

Ratios

Percentages worked out from the filed figures; debt to equity in times. 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
Margins
54.5% 65.2% 10.4% 14.5% n/a
−46.4% −35.0% 56.9% −12.8% 29.2%
−54.7% −41.7% 50.8% −32.7% 16.5%
−32.3% −32.6% 38.4% −13.8% 18.6%
n/a n/a 11.1% 22.3% 15.3%
Spending
10.2% 8.9% 6.1% 17.1% n/a
n/a n/a 3.8% 6.9% 10.1%
n/a n/a 24.2% n/a −13.5%
Returns
−49.0% n/a 139.2% −26.1% 34.7%
n/a −16.3% 21.6% −2.6% n/a
Balance and payout
n/a n/a 2.37 4.26 3.00
n/a 103.6% 82.8% 88.4% n/a
n/a n/a 22.4% n/a 24.9%
n/a n/a 77.4% 52.9% 30.4%