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Diversified Energy (DEC) Financials

Diversified Energy logo
$14.43 +0.03 (+0.20%)
Closing price 03:59 PM Eastern
Extended Trading
$14.41 -0.02 (-0.13%)
As of 04:04 PM Eastern
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Annual Income Statements for Diversified Energy

Annual Income Statements for Diversified Energy

This table shows Diversified Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -795 1,551 -690 -981
Consolidated Net Income / (Loss)		 -621 750 -207 683
Net Income / (Loss) Continuing Operations		 -800 1,553 -689 -980
Total Pre-Tax Income 		-800 990 -248 301
Total Operating Income		 1,056 1,109 -97 535
Total Gross Profit		 1,251 2,751 -296 -499
Total Revenue		 1,919 2,751 26 73
Operating Revenue		 1,919 1,671 26 73
Total Cost of Revenue		 222 0.00 322 573
Operating Cost of Revenue		 222 - 322 573
Total Operating Expenses		 642 840 486 715
Selling, General & Admin Expense		 171 129 130 168
Marketing Expense		 - 61 36 87
Depreciation Expense		 - 273 292 413
Other Operating Expenses / (Income)		 471 405 28 49
Total Other Income / (Expense), net		 -1,855 -119 -52 194
Interest Expense		 - 131 16 27
Other Income / (Expense), net		 -1,855 0.39 -35 221
Income Tax Expense		 - 239 -145 -41
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 1.68 1.27 0.78
Basic Earnings per Share		 - $15.87 ($2.17) $4.67
Weighted Average Basic Shares Outstanding		 42.20M 47.17M 48.03M 72.97M
Diluted Earnings per Share		 - $15.76 ($2.17) $4.58
Weighted Average Diluted Shares Outstanding		 42.20M 47.51M 48.03M 74.48M
Weighted Average Basic & Diluted Shares Outstanding		 84.41M 47.17M 0.00 76.07M

Quarterly Income Statements for Diversified Energy

This table shows Diversified Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q2 2025 Q1 2026 Q2 2026
Period end date 3/31/2025 6/30/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 6.22 693 -652 751
Consolidated Net Income / (Loss)		 -323 298 -321 248
Net Income / (Loss) Continuing Operations		 6.60 693 -653 751
Total Pre-Tax Income 		-258 236 -313 387
Total Operating Income		 -188 291 -251 472
Total Gross Profit		 392 981 -63 1,316
Total Revenue		 392 981 98 1,316
Operating Revenue		 676 981 98 1,316
Total Cost of Revenue		 0.00 0.00 162 0.00
Total Operating Expenses		 251 295 194 340
Selling, General & Admin Expense		 34 57 42 44
Marketing Expense		 16 23 30 30
Depreciation Expense		 75 93 109 103
Other Operating Expenses / (Income)		 127 123 13 163
Total Other Income / (Expense), net		 -69 -55 -548 -84
Interest Expense		 70 56 0.00 85
Other Income / (Expense), net		 0.27 0.84 -548 0.70
Income Tax Expense		 65 -62 -153 140
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.38 0.18 -0.05 0.66
Basic Earnings per Share		 ($5.52) $3.77 ($2.13) $3.42
Weighted Average Basic Shares Outstanding		 58.60M 78.94M 75.26M 72.30M
Diluted Earnings per Share		 ($5.52) $3.67 ($2.13) $3.31
Weighted Average Diluted Shares Outstanding		 58.60M 81.14M 75.26M 74.71M
Weighted Average Basic & Diluted Shares Outstanding		 - - 72.32M 70.77M

Annual Cash Flow Statements for Diversified Energy

This table details how cash moves in and out of Diversified Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -611 -23 12 93
Net Cash From Operating Activities		 -519 291 221 465
Net Cash From Continuing Operating Activities		 -519 291 221 465
Net Income / (Loss) Continuing Operations		 -621 750 -103 342
Consolidated Net Income / (Loss)		 -621 750 -103 342
Depreciation Expense		 222 273 292 413
Non-Cash Adjustments To Reconcile Net Income		 -246 -639 78 -234
Changes in Operating Assets and Liabilities, net		 125 -94 -47 -56
Net Cash From Investing Activities		 -74 -247 -267 -820
Net Cash From Continuing Investing Activities		 -74 -247 -267 -820
Purchase of Property, Plant & Equipment		 -86 -74 -52 -185
Acquisitions		 - -262 -282 -807
Divestitures		 - 92 69 172
Other Investing Activities, net		 - -2.62 -1.05 0.00
Net Cash From Financing Activities		 -18 -67 58 448
Net Cash From Continuing Financing Activities		 -18 -67 58 448
Repayment of Debt		 - -1,562 -1,676 -2,468
Repurchase of Common Equity		 - -11 -21 -99
Payment of Dividends		 -6.39 -172 -86 -87
Issuance of Debt		 - 1,537 1,845 3,173
Issuance of Common Equity		 - 157 0.00 117
Other Financing Activities, net		 - -17 -3.91 -187

Quarterly Cash Flow Statements for Diversified Energy

This table details how cash moves in and out of Diversified Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q2 2025 Q1 2026 Q2 2026
Period end date 3/31/2025 6/30/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 86 -12 10 -52
Net Cash From Operating Activities		 85 80 169 89
Net Cash From Continuing Operating Activities		 85 80 169 89
Net Income / (Loss) Continuing Operations		 -323 298 -161 248
Consolidated Net Income / (Loss)		 -323 298 -161 248
Depreciation Expense		 75 93 109 103
Non-Cash Adjustments To Reconcile Net Income		 336 -267 169 -221
Changes in Operating Assets and Liabilities, net		 -3.40 -43 52 -42
Net Cash From Investing Activities		 -405 9.15 1.34 -103
Net Cash From Continuing Investing Activities		 -405 9.15 1.34 -103
Purchase of Property, Plant & Equipment		 -28 -61 -58 -40
Acquisitions		 -380 - -43 -219
Divestitures		 2.71 70 102 157
Net Cash From Financing Activities		 407 -101 -160 -38
Net Cash From Continuing Financing Activities		 407 -101 -160 -38
Repayment of Debt		 -819 -938 -751 -1,533
Repurchase of Common Equity		 0.00 -36 -71 -11
Payment of Dividends		 -17 -23 -22 -21
Issuance of Debt		 1,301 900 691 1,542
Other Financing Activities, net		 -175 -4.46 -5.22 -15

Annual Balance Sheets for Diversified Energy

This table presents Diversified Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 3,474 3,957 6,169
Total Current Assets		 305 304 650
Cash & Equivalents		 3.75 5.99 30
Restricted Cash		 36 11 22
Accounts Receivable		 190 234 408
Prepaid Expenses		 - 19 37
Other Current Assets		 12 34 153
Plant, Property, & Equipment, net		 0.00 3,259 4,954
Plant, Property & Equipment, gross		 - 3,815 5,829
Accumulated Depreciation		 - 982 1,321
Total Noncurrent Assets		 198 394 565
Noncurrent Deferred & Refundable Income Taxes		 145 271 287
Other Noncurrent Operating Assets		 34 122 278
Total Liabilities & Shareholders' Equity		 3,474 3,957 6,169
Total Liabilities		 2,876 3,545 5,174
Total Current Liabilities		 638 777 1,076
Short-Term Debt		 201 209 237
Accounts Payable		 53 35 82
Accrued Expenses		 - 95 194
Current Deferred Revenue		 - 172 240
Other Current Liabilities		 334 265 323
Total Noncurrent Liabilities		 2,237 2,768 4,098
Long-Term Debt		 1,076 1,495 2,715
Asset Retirement Reserve & Litigation Obligation		 - 619 864
Other Noncurrent Operating Liabilities		 1,127 653 519
Commitments & Contingencies		 - 0.00 0.00
Total Equity & Noncontrolling Interests		 598 412 995
Total Preferred & Common Equity		 586 400 984
Total Common Equity		 -622 400 984
Common Stock		 13 1,160 1,492
Retained Earnings		 -547 -759 -508
Accumulated Other Comprehensive Income / (Loss)		 - -0.94 -0.58
Noncontrolling Interest		 13 12 11

Quarterly Balance Sheets for Diversified Energy

This table presents Diversified Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2026 Q2 2026
Period end date 3/31/2026 6/30/2026
Total Assets		 6,236 6,110
Total Current Assets		 627 552
Cash & Equivalents		 55 8.24
Restricted Cash		 17 11
Accounts Receivable		 412 408
Prepaid Expenses		 67 40
Other Current Assets		 77 84
Plant, Property, & Equipment, net		 4,918 4,994
Plant, Property & Equipment, gross		 5,870 5,963
Accumulated Depreciation		 1,412 1,427
Total Noncurrent Assets		 691 564
Noncurrent Deferred & Refundable Income Taxes		 436 313
Other Noncurrent Operating Assets		 254 252
Total Liabilities & Shareholders' Equity		 6,236 6,110
Total Liabilities		 5,492 5,148
Total Current Liabilities		 1,336 970
Short-Term Debt		 235 107
Accounts Payable		 76 130
Accrued Expenses		 159 166
Current Deferred Revenue		 - 241
Other Current Liabilities		 865 325
Total Noncurrent Liabilities		 4,156 4,178
Long-Term Debt		 2,653 2,823
Asset Retirement Reserve & Litigation Obligation		 870 881
Other Noncurrent Operating Liabilities		 634 474
Commitments & Contingencies		 0.00 0.00
Total Equity & Noncontrolling Interests		 744 962
Total Preferred & Common Equity		 733 951
Total Common Equity		 733 951
Common Stock		 1,427 1,420
Retained Earnings		 -693 -468
Accumulated Other Comprehensive Income / (Loss)		 -0.58 -0.58
Noncontrolling Interest		 11 11

Annual Metrics And Ratios for Diversified Energy

This table displays calculated financial ratios and metrics derived from Diversified Energy's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - 0.00
DEI Adjusted Shares Outstanding		 - - - 0.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - 0.00
Growth Metrics		 - - - -
Revenue Growth		 0.00% -54.76% -100.00% 181.44%
EBITDA Growth		 0.00% 309.00% -89.44% 631.75%
EBIT Growth		 0.00% 222.81% -113.15% 671.36%
NOPAT Growth		 0.00% -95.81% -392.09% 993.07%
Net Income Growth		 0.00% 222.41% -111.45% 429.23%
EPS Growth		 0.00% 0.00% 0.00% 311.06%
Operating Cash Flow Growth		 0.00% 274.66% -77.20% 110.57%
Free Cash Flow Firm Growth		 0.00% 0.00% -101.36% 64.46%
Invested Capital Growth		 0.00% 0.00% -6.28% 85.55%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - -
Gross Margin		 65.19% 23.40% 0.00% -680.80%
EBITDA Margin		 -30.08% 138.95% 0.00% 1,592.63%
Operating Margin		 54.99% 3.56% 0.00% 729.22%
EBIT Margin		 -41.65% 113.09% 0.00% 1,030.39%
Profit (Net Income) Margin		 -32.33% 87.50% 0.00% 930.94%
Tax Burden Percent		 77.62% 75.94% 67.38% 226.65%
Interest Burden Percent		 100.00% 101.88% 100.00% 39.86%
Effective Tax Rate		 0.00% 0.00% 0.00% -13.46%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 20.25%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 23.56%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 76.84%
Return on Equity (ROE)		 0.00% 126.95% -16.37% 97.09%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -39.67%
Operating Return on Assets (OROA)		 0.00% 28.26% 0.00% 14.93%
Return on Assets (ROA)		 0.00% 21.87% 0.00% 13.49%
Return on Common Equity (ROCE)		 0.00% -132.04% 22.06% 95.52%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 129.68% -19.22% 0.00%
Net Operating Profit after Tax (NOPAT)		 739 31 -90 607
NOPAT Margin		 38.50% 3.56% 0.00% 827.35%
Net Nonoperating Expense Percent (NNEP)		 0.00% 82.02% 0.19% -3.31%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.63% -4.13% 15.38%
Cost of Revenue to Revenue		 11.58% 26.84% 0.00% 780.80%
SG&A Expenses to Revenue		 8.90% 13.79% 0.00% 228.47%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 33.43% 69.60% 0.00% 975.15%
Earnings before Interest and Taxes (EBIT)		 -800 982 -129 756
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -577 1,206 127 1,168
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 1.07
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 1.07
Price to Revenue (P/Rev)		 0.45 0.70 0.00 14.38
Price to Earnings (P/E)		 0.00 0.61 0.00 0.00
Dividend Yield		 0.00% 0.00% 10.63% 2.05%
Earnings Yield		 0.00% 164.73% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 1.02
Enterprise Value to Revenue (EV/Rev)		 0.00 3.45 0.00 54.06
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 2.49 0.00 3.39
Enterprise Value to EBIT (EV/EBIT)		 0.00 3.05 0.00 5.25
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 96.90 0.00 6.53
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 3.31 0.00 8.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.48 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 2.17 3.71 2.97
Long-Term Debt to Equity		 0.00 1.83 3.26 2.73
Financial Leverage		 0.00 -2.97 -3.29 3.26
Leverage Ratio		 0.00 5.81 7.03 7.20
Compound Leverage Factor		 0.00 5.91 7.03 2.87
Debt to Total Capital		 0.00% 68.43% 78.77% 74.79%
Short-Term Debt to Total Capital		 0.00% 10.59% 9.57% 5.99%
Long-Term Debt to Total Capital		 0.00% 57.84% 69.20% 68.80%
Preferred Equity to Total Capital		 0.00% 63.74% 57.69% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.66% 0.54% 0.28%
Common Equity to Total Capital		 0.00% -32.83% -37.01% 24.93%
Debt to EBITDA		 0.00 1.08 13.54 2.53
Net Debt to EBITDA		 0.00 0.97 12.86 2.48
Long-Term Debt to EBITDA		 0.00 0.91 11.89 2.32
Debt to NOPAT		 0.00 41.92 -19.08 4.86
Net Debt to NOPAT		 0.00 37.79 -18.12 4.78
Long-Term Debt to NOPAT		 0.00 35.43 -16.76 4.47
Altman Z-Score		 0.00 0.97 0.00 0.34
Noncontrolling Interest Sharing Ratio		 0.00% 204.01% 234.76% 1.62%
Liquidity Ratios		 - - - -
Current Ratio		 0.00 0.48 0.40 0.60
Quick Ratio		 0.00 0.44 0.36 0.41
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 1,210 -16 -1,189
Operating Cash Flow to CapEx		 -702.51% 1,292.05% 487.17% 251.69%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -44.09
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 17.23
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 10.38
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.25 0.00 0.01
Accounts Receivable Turnover		 0.00 4.56 0.00 0.23
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.02
Accounts Payable Turnover		 0.00 4.36 0.00 9.81
Days Sales Outstanding (DSO)		 0.00 79.96 0.00 1,598.99
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 83.78 0.00 37.22
Cash Conversion Cycle (CCC)		 0.00 -3.83 0.00 1,561.77
Capital & Investment Metrics		 - - - -
Invested Capital		 0.00 -1,179 -1,253 3,896
Invested Capital Turnover		 0.00 -1.47 0.00 0.02
Increase / (Decrease) in Invested Capital		 0.00 -1,179 -74 1,796
Enterprise Value (EV)		 0.00 2,999 0.00 3,966
Market Capitalization		 866 608 0.00 1,055
Book Value per Share		 $0.00 ($13.20) $0.00 $13.49
Tangible Book Value per Share		 $0.00 ($13.61) $0.00 $13.49
Total Capital		 0.00 1,896 2,189 3,947
Total Debt		 0.00 1,297 1,724 2,952
Total Long-Term Debt		 0.00 1,096 1,515 2,715
Net Debt		 0.00 1,170 1,638 2,901
Capital Expenditures (CapEx)		 74 70 42 185
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -261 -332 -240
Debt-free Net Working Capital (DFNWC)		 0.00 -133 -246 -189
Net Working Capital (NWC)		 0.00 -334 -456 -426
Net Nonoperating Expense (NNE)		 1,359 -729 -3.38 -76
Net Nonoperating Obligations (NNO)		 0.00 -1,777 -1,717 2,901
Total Depreciation and Amortization (D&A)		 222 225 256 413
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -30.02% 0.00% -327.70%
Debt-free Net Working Capital to Revenue		 0.00% -15.32% 0.00% -257.58%
Net Working Capital to Revenue		 0.00% -38.45% 0.00% -580.00%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $4.67
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 72.97M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $4.58
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 74.48M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 76.07M
Normalized Net Operating Profit after Tax (NOPAT)		 739 51 -90 375
Normalized NOPAT Margin		 38.50% 5.85% 0.00% 510.46%
Pre Tax Income Margin		 -41.65% 115.21% 0.00% 410.74%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 28.03
NOPAT to Interest Expense		 0.00 0.00 0.00 22.51
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 21.18
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 15.66
Payout Ratios		 - - - -
Dividend Payout Ratio		 -1.03% 0.53% -2.29% 12.70%
Augmented Payout Ratio		 -1.03% 0.53% -2.29% 27.26%

Quarterly Metrics And Ratios for Diversified Energy

This table displays calculated financial ratios and metrics derived from Diversified Energy's official financial filings.

Metric Q1 2025 Q2 2025 Q1 2026 Q2 2026
Period end date 3/31/2025 6/30/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 0.00 0.00 76,070,756.00 72,323,471.00
DEI Adjusted Shares Outstanding		 0.00 0.00 76,070,756.00 72,323,471.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -8.58 10.38
Growth Metrics		 - - - -
Revenue Growth		 0.00% 0.00% -74.98% 34.05%
EBITDA Growth		 0.00% 0.00% -509.40% 49.64%
EBIT Growth		 0.00% 0.00% -325.03% 61.69%
NOPAT Growth		 0.00% 0.00% -33.20% -17.97%
Net Income Growth		 0.00% 0.00% 0.48% -16.89%
EPS Growth		 0.00% 0.00% 61.41% -9.81%
Operating Cash Flow Growth		 0.00% 0.00% 98.84% 10.59%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00%
Revenue Q/Q Growth		 0.00% 150.42% 0.00% 1,241.40%
EBITDA Q/Q Growth		 0.00% 440.01% 0.00% 183.49%
EBIT Q/Q Growth		 0.00% 255.56% 0.00% 159.18%
NOPAT Q/Q Growth		 0.00% 379.23% 0.00% 271.97%
Net Income Q/Q Growth		 0.00% 192.29% 0.00% 177.07%
EPS Q/Q Growth		 0.00% 166.49% 0.00% 255.40%
Operating Cash Flow Q/Q Growth		 0.00% -5.39% 0.00% -47.38%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 4.41%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 8.78%
Profitability Metrics		 - - - -
Gross Margin		 100.00% 100.00% -64.70% 100.00%
EBITDA Margin		 -28.88% 39.22% -703.36% 43.78%
Operating Margin		 -48.00% 29.69% -255.48% 35.86%
EBIT Margin		 -47.93% 29.77% -814.05% 35.91%
Profit (Net Income) Margin		 -82.37% 30.35% -327.58% 18.82%
Tax Burden Percent		 125.35% 126.19% 102.51% 63.93%
Interest Burden Percent		 137.10% 80.79% 39.26% 81.97%
Effective Tax Rate		 0.00% -26.19% 0.00% 36.07%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 1.35%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% -2.37%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% -7.16%
Return on Equity (ROE)		 0.00% 0.00% 92.02% -5.82%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.67%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.35%
Return on Common Equity (ROCE)		 0.00% 0.00% 90.71% -5.75%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -132 368 -175 302
NOPAT Margin		 -33.60% 37.46% -178.83% 22.93%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 10.36% 3.71%
Return On Investment Capital (ROIC_SIMPLE)		 - - -4.83% 7.75%
Cost of Revenue to Revenue		 0.00% 0.00% 164.70% 0.00%
SG&A Expenses to Revenue		 8.70% 5.77% 42.53% 3.31%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 63.95% 30.09% 197.82% 25.85%
Earnings before Interest and Taxes (EBIT)		 -188 292 -798 472
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -113 385 -690 576
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.79 1.09
Price to Tangible Book Value (P/TBV)		 0.00 0.00 1.79 1.09
Price to Revenue (P/Rev)		 0.00 0.00 0.00 9.11
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 3.33% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 1.16 1.02
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 34.82
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 6.99 5.05
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 28.46 12.15
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 4.27 5.30
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 7.55 7.10
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 0.00 3.88 3.05
Long-Term Debt to Equity		 0.00 0.00 3.57 2.94
Financial Leverage		 0.00 0.00 3.79 3.03
Leverage Ratio		 0.00 0.00 8.38 6.35
Compound Leverage Factor		 0.00 0.00 3.29 5.21
Debt to Total Capital		 0.00% 0.00% 79.52% 75.29%
Short-Term Debt to Total Capital		 0.00% 0.00% 6.48% 2.75%
Long-Term Debt to Total Capital		 0.00% 0.00% 73.04% 72.54%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.29% 0.28%
Common Equity to Total Capital		 0.00% 0.00% 20.19% 24.43%
Debt to EBITDA		 0.00 0.00 4.88 3.74
Net Debt to EBITDA		 0.00 0.00 4.76 3.72
Long-Term Debt to EBITDA		 0.00 0.00 4.48 3.61
Debt to NOPAT		 0.00 0.00 2.98 3.92
Net Debt to NOPAT		 0.00 0.00 2.90 3.90
Long-Term Debt to NOPAT		 0.00 0.00 2.73 3.78
Altman Z-Score		 0.00 0.00 -0.61 0.21
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 1.42% 1.13%
Liquidity Ratios		 - - - -
Current Ratio		 0.00 0.00 0.47 0.57
Quick Ratio		 0.00 0.00 0.35 0.43
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 -3,735 -3,571
Operating Cash Flow to CapEx		 302.73% 131.10% 290.88% 219.84%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -41.92
Operating Cash Flow to Interest Expense		 1.22 1.43 0.00 1.04
Operating Cash Flow Less CapEx to Interest Expense		 0.82 0.34 0.00 0.57
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.00 0.00 0.02
Accounts Receivable Turnover		 0.00 0.00 0.00 0.28
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.02
Accounts Payable Turnover		 0.00 0.00 9.61 5.67
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 1,309.70
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 37.98 64.38
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 1,245.32
Capital & Investment Metrics		 - - - -
Invested Capital		 0.00 0.00 3,560 3,873
Invested Capital Turnover		 0.00 0.00 0.00 0.06
Increase / (Decrease) in Invested Capital		 0.00 0.00 3,560 3,873
Enterprise Value (EV)		 0.00 0.00 4,139 3,957
Market Capitalization		 0.00 0.00 1,312 1,035
Book Value per Share		 $0.00 $0.00 $9.64 $13.15
Tangible Book Value per Share		 $0.00 $0.00 $9.64 $13.15
Total Capital		 0.00 0.00 3,632 3,892
Total Debt		 0.00 0.00 2,888 2,931
Total Long-Term Debt		 0.00 0.00 2,653 2,823
Net Debt		 0.00 0.00 2,816 2,911
Capital Expenditures (CapEx)		 28 61 58 40
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 -545 -331
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 -473 -311
Net Working Capital (NWC)		 0.00 0.00 -708 -418
Net Nonoperating Expense (NNE)		 191 70 146 54
Net Nonoperating Obligations (NNO)		 0.00 0.00 2,816 2,911
Total Depreciation and Amortization (D&A)		 75 93 109 103
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% -291.08%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% -273.80%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% -368.07%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($2.13) $3.42
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 75.26M 72.30M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($2.13) $3.31
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 75.26M 74.71M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 72.32M 70.77M
Normalized Net Operating Profit after Tax (NOPAT)		 -133 204 -175 302
Normalized NOPAT Margin		 -33.90% 20.78% -178.83% 22.93%
Pre Tax Income Margin		 -65.71% 24.05% -319.57% 29.44%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 -2.70 5.21 0.00 5.55
NOPAT to Interest Expense		 -1.89 6.55 0.00 3.54
EBIT Less CapEx to Interest Expense		 -3.10 4.12 0.00 5.07
NOPAT Less CapEx to Interest Expense		 -2.29 5.46 0.00 3.07
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 13.39% 14.14%
Augmented Payout Ratio		 0.00% 0.00% 38.37% 37.13%

Financials Breakdown Chart

Key Financial Trends

Diversified Energy (NYSE: DEC) showed a mixed start to 2026, with stronger operating cash flow but a much wider reported loss and a heavier balance-sheet burden.

  • Operating cash flow improved to $168.7 million in Q1 2026, up from $84.9 million in Q1 2025.
  • The company generated $10.4 million in net cash growth during the quarter, despite sizable financing and investing activity.
  • Divestitures brought in $102.1 million, helping offset capital spending and acquisitions.
  • Cash and equivalents stood at $54.5 million, with another $17.3 million
  • Q1 2026 revenue was $98.1 million, compared with $391.9 million in Q1 2025, but the prior-year period included large “other revenue” items that make the comparison less straightforward.
  • The company continued to invest in the business, spending $58.0 million on property, plant and equipment in Q1 2026.
  • Diversified Energy also completed $42.8 million of acquisitions in the quarter.
  • Reported net loss widened sharply to $652.5 million attributable to common shareholders, versus a $6.2 million profit in Q1 2025.
  • Gross profit was negative in Q1 2026 at -$63.5 million, as cost of revenue of $161.5 million exceeded revenue.
  • Total liabilities rose to $5.49 billion against $743.4 million of equity, leaving the balance sheet highly leveraged.
  • Debt remained a major feature of the capital structure, with $235.3 million of short-term debt and $2.65 billion of long-term debt.
  • Financing cash flow was negative at -$159.7 million, driven by $751.1 million of debt repayment and $71.5 million in share repurchases.

Bottom line: Diversified Energy is still producing solid operating cash, but profitability remains under pressure and leverage is high. For investors, the key question is whether the company can keep converting assets and operations into cash fast enough to support its debt load and ongoing capital needs.

08/19/26 02:46 PM ETAI Generated. May Contain Errors.

Diversified Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Diversified Energy's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Diversified Energy's net income appears to be on an upward trend, with a most recent value of $683.01 million in 2025, falling from -$620.60 million in 2022. The previous period was -$207.46 million in 2024. View Diversified Energy's forecast to see where analysts expect Diversified Energy to go next.

Diversified Energy's total operating income in 2025 was $535.02 million, based on the following breakdown:
  • Total Gross Profit: -$499.49 million
  • Total Operating Expenses: $715.45 million

Over the last 3 years, Diversified Energy's total revenue changed from $1.92 billion in 2022 to $73.37 million in 2025, a change of -96.2%.

Diversified Energy's total liabilities were at $5.17 billion at the end of 2025, a 46.0% increase from 2024, and a 79.9% increase since 2023.

In the past 2 years, Diversified Energy's cash and equivalents has ranged from $3.75 million in 2023 to $29.70 million in 2025, and is currently $29.70 million as of their latest financial filing in 2025.

Over the last 3 years, Diversified Energy's book value per share changed from 0.00 in 2022 to 13.49 in 2025, a change of 1,348.6%.


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Financial statements for NYSE:DEC last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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