Matador Resources Company (MTDR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.09	$2.61	+24.9%	—	$1.2B	—
Q1 26	$1.26	$1.53	+21.4%	—	$941.6M	—
Q4 25	$0.76	$0.87	+14.5%	—	$809.5M	—
Q3 25	$1.23	$1.36	+10.6%	—	$915.1M	—
Q2 25	$1.41	$1.53	+8.5%	—	$925.7M	—
Q1 25	$1.78	$1.99	+11.8%	—	$1B	—
Q4 24	$1.75	$1.83	+4.6%	—	$978.3M	—
Q3 24	$1.65	$1.89	+14.5%	—	$860.1M	—
Q2 24	$1.74	$2.05	+17.8%	—	$855.2M	—
Q1 24	$1.52	$1.71	+12.5%	—	$785.3M	—
Q4 23	$1.85	$1.99	+7.6%	—	$832.3M	—
Q3 23	$1.65	$1.86	+12.7%	—	$771.8M	—
Q2 23	$1.34	$1.42	+6.0%	—	$649.9M	—
Q1 23	$1.33	$1.5	+12.8%	—	$563.7M	—
Q4 22	$1.95	$2.08	+6.7%	—	$704.8M	—
Q3 22	$2.49	$2.68	+7.6%	—	$854.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.1	—	—	$3.7B	—
FY24	—	$7.16	—	—	$3.5B	—
FY23	—	$7.1	—	—	$2.8B	—
FY22	—	$10.3	—	—	$3.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$296.4M	$538.9M	$832.2M	$1B	$855.2M	$1.9B	$3.2B	$2.8B	$3.5B	$3.7B
YoY change	+5.77%	+81.8%	+54.4%	+23.5%	-16.8%	+117.7%	+71.7%	-11.9%	+23.5%	+5.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	296.4M	538.9M	832.2M	1B	855.2M	1.9B	3.2B	2.8B	3.5B	3.7B
Cost of revenue	226.7M	316.1M	465.5M	666.3M	634.4M	771.4M	1.2B	1.5B	1.9B	2B
Gross profit	69.7M	222.8M	366.7M	361.6M	220.8M	1.1B	2B	1.3B	1.5B	1.7B
Gross margin	23.5%	41.3%	44.1%	35.2%	25.8%	58.6%	63.1%	47.4%	44.3%	45.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	55.1M	66M	69.3M	80.1M	62.6M	96.4M	116.2M	110.4M	127.5M	137.1M
Operating expenses	56.3M	67.3M	70.8M	81.9M	64.5M	98.5M	118.7M	114.3M	133.5M	211.7M
Operating income	13.4M	155.4M	295.9M	279.7M	156.3M	992.2M	1.9B	1.2B	1.4B	1.2B
Operating margin	4.53%	28.8%	35.6%	27.2%	18.3%	53.3%	59.4%	43.3%	40.5%	32.5%
Non-operating income, net	-83.3M	9M	37.5M	-47.3M	-678.8M	-202.1M	-145.1M	-2.3M	26.7M	55.2M
Pretax income	-98.1M	129.8M	292.1M	158.5M	-599.2M	715.3M	1.7B	1.1B	1.3B	1B
Income tax	-1M	-8.2M	-7.7M	35.5M	-45.6M	74.7M	399.4M	186M	292.4M	172.7M
Net income	-97.1M	138M	299.8M	123M	-553.6M	640.6M	1.3B	910.4M	971.3M	860.8M
Net margin	-32.7%	25.6%	36%	12%	-64.7%	34.4%	40.2%	32.3%	27.9%	23.5%
EBITDA	135.5M	336.5M	562.5M	628.1M	520M	1.3B	2.4B	1.9B	2.4B	2.4B
EPS	-1.07	1.23	2.41	0.75	-5.11	5	10.3	7.1	7.16	6.1
Diluted EPS	-1.07	1.23	2.41	0.75	-5.11	4.91	10.1	7.05	7.14	6.09

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	771.8M	832.3M	785.3M	855.2M	860.1M	978.3M	1B	925.7M	915.1M	809.5M	941.6M	1.2B
Cost of revenue	399.3M	439.8M	437.8M	454.3M	477.3M	567.4M	589.3M	572.7M	594.1M	226.3M	497.8M	443.7M
Gross profit	372.5M	392.5M	347.5M	400.9M	382.9M	410.9M	416.8M	353M	321M	583.3M	443.8M	729.7M
Gross margin	48.3%	47.2%	44.3%	46.9%	44.5%	42%	41.4%	38.1%	35.1%	72.1%	47.1%	62.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	31.7M	29.5M	29.7M	27.9M	28.8M	41.1M	33.7M	32.2M	36.8M	34.4M	39M	41.3M
Operating expenses	32.9M	30.7M	30.9M	29.2M	30.4M	42.9M	35.5M	34M	38.9M	103.4M	56.1M	62.6M
Operating income	339.5M	361.7M	316.6M	371.7M	352.4M	368M	381.4M	319M	282.1M	204.3M	316.8M	564.4M
Operating margin	44%	43.5%	40.3%	43.5%	41%	37.6%	37.9%	34.5%	30.8%	25.2%	33.6%	48.1%
Non-operating income, net	-11.1M	7.4M	2.9M	-10.2M	41.8M	-7.8M	13.3M	-26.9M	28.3M	40.4M	-281.8M	17M
Pretax income	293M	333.4M	280M	325.5M	358M	300.2M	345.2M	238.8M	259.8M	189.7M	-16.5M	520.5M
Income tax	14.6M	57.5M	66.8M	78M	85.3M	62.3M	82.9M	56.5M	59.1M	-25.8M	-684K	106.8M
Net income	278.4M	275.9M	213.2M	247.5M	272.7M	237.9M	262.2M	182.4M	200.6M	215.5M	-15.8M	413.7M
Net margin	36.1%	33.2%	27.1%	28.9%	31.7%	24.3%	26.1%	19.7%	21.9%	26.6%	-1.68%	35.3%
EBITDA	520.7M	585.3M	529.5M	595.5M	597.3M	661.3M	668.8M	625.1M	592.4M	511.8M	613.9M	883.5M
EPS	2.21	2.14	1.62	1.83	1.99	1.72	1.92	1.21	1.42	1.55	-0.29	3.15
Diluted EPS	2.2	2.12	1.61	1.83	1.99	1.71	1.92	1.21	1.42	1.55	-0.29	3.15

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	2.1B	1.4B	4.3B	6.8B	6.8B	7B	5.3B	6.4B
Enterprise value	—	—	—	3.7B	3.2B	5.8B	7.5B	9B	10.3B	8.8B	11B
Shares outstanding	91.3M	102M	113.6M	116.6M	116.1M	117M	118.1M	119.1M	123.6M	124.6M	124.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	17	—	6.74	5.26	7.44	7.16	6.14	8.84
P/S	—	—	—	2.04	1.64	2.32	2.12	2.4	2	1.45	1.66
P/B	—	—	—	1.06	0.93	2.03	2.04	1.64	1.27	0.88	1.08
EV/EBITDA	—	—	—	5.82	6.12	4.37	3.16	4.62	4.34	3.65	4.58
EV/Sales	—	—	—	3.56	3.72	3.13	2.33	3.19	2.97	2.4	2.86
Earnings yield	—	—	—	5.87%	—	14.8%	19%	13.4%	14%	16.3%	11.3%
FCF yield	—	—	—	-17.8%	-21.6%	7.41%	13.2%	4.69%	4.03%	4.57%	-14.3%
PEG	—	—	—	—	—	—	—	—	—	—	0.06

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	23.5%	41.3%	44.1%	35.2%	25.8%	58.6%	63.1%	47.4%	44.3%	45.8%	62.2%
Operating margin	4.53%	28.8%	35.6%	27.2%	18.3%	53.3%	59.4%	43.3%	40.5%	32.5%	49.2%
Net margin	-32.7%	25.6%	36%	12%	-64.7%	34.4%	40.2%	32.3%	27.9%	23.5%	18.8%
ROE	-14%	11%	16.8%	6.24%	-36.6%	30.1%	38.8%	22.1%	17.8%	14.4%	13.6%
ROA	-6.63%	6.43%	8.67%	3.02%	-15%	15%	23.2%	11.8%	8.95%	7.35%	5.92%
ROIC	1.26%	8.89%	9.78%	6.15%	4.74%	24.4%	36%	16%	12.2%	10.4%	11.1%
Return on tangible assets	-6.63%	6.43%	8.67%	3.02%	-15%	15%	23.2%	11.8%	8.95%	7.35%	6.03%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.65	0.91	0.93	0.7	0.9	0.8	1.86	1.04	0.93	0.79	0.65
Quick ratio	1.63	0.89	0.87	0.67	0.86	0.77	1.83	0.98	0.89	0.75	0.62
Debt / equity	0.85	0.47	0.74	0.81	1.22	0.73	0.36	0.55	0.63	0.58	0.69
Debt / assets	0.4	0.27	0.38	0.39	0.5	0.37	0.22	0.29	0.31	0.3	0.32
Net debt / EBITDA	2.78	1.46	2.21	2.48	3.43	1.13	0.3	1.14	1.42	1.45	1.65
Interest coverage	-2.48	4.76	8.07	3.15	-6.81	10.6	26.1	10	8.36	5.96	5.37
Effective tax rate	0%	0%	0%	22.4%	0%	10.4%	23.7%	17%	23.1%	16.7%	14.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.25	5.28	7.33	8.82	7.37	15.9	27.1	23.6	28.2	29.4	30.9
EPS (basic)	-1.07	1.23	2.41	0.75	-5.11	5	10.3	7.1	7.16	6.1	6.1
EPS (diluted)	-1.07	1.23	2.41	0.75	-5.11	4.91	10.1	7.05	7.14	6.09	5.83
Book value per share	7.58	12.3	15.7	16.9	13	18.2	28.1	34.6	44.2	48.1	47.8
FCF per share	-3.5	-5.11	-8.06	-3.21	-2.61	2.73	7.57	2.67	2.27	1.94	-4.58
Cash per share	2.33	0.95	0.57	0.34	0.5	0.41	4.28	0.44	0.19	0.12	0.21
Capex per share	0.82	0.06	5.75	0.44	0.63	2.04	1.95	1.58	3.68	14.8	13.9

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	25.3%	1.06%	78.5%	4.94%	8.51%	12.8%	7.22%	6.66%	13.1%	50.4%	44.9%
Capex / operating cash flow	208.1%	2.13%	102.7%	10.5%	-35%	22.6%	11.6%	10.2%	20.6%	76.1%	66.2%
Payout ratio	—	—	—	0%	0%	2.28%	2.74%	8.48%	10.8%	18.9%	24.7%
Dividend yield	—	—	—	0%	0%	0.34%	0.52%	1.14%	1.51%	3.09%	2.91%

Yield

2.91%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.375

ex-dividend Aug 10, 2026

Payout ratio

25%

of earnings

Dividend growth

4 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$0.375
May 8, 2026	$0.375
Feb 27, 2026	$0.375
Nov 10, 2025	$0.375
Aug 15, 2025	$0.313
May 9, 2025	$0.313
Feb 28, 2025	$0.3125
Nov 15, 2024	$0.25

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$771.8M	$832.3M	$785.3M	$855.2M	$860.1M	$978.3M	$1B	$925.7M	$915.1M	$809.5M	$941.6M	$1.2B
YoY change	-9.64%	+18.1%	+39.3%	+31.6%	+11.4%	+17.5%	+28.1%	+8.24%	+6.39%	-17.2%	-6.42%	+26.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	212.9M	96.5M	64.5M	40M	57.9M	48.1M	505.2M	52.7M	23M	15.3M
Receivables	53.5M	133.2M	130M	162.8M	119.9M	212.6M	405.8M	437.9M	592.1M	426.2M
Inventory	3M	6M	17.6M	10.7M	10.6M	12.2M	15.2M	41.8M	38.5M	43.8M
Total current assets	279.2M	257.2M	305.7M	278.5M	261.6M	371.3M	1.1B	715.9M	927.3M	816.6M
Property, plant & equipment	-1.7B	-1.8B	-1.9B	-2B	-2.8B	-3.1B	-3.4B	-3.9B	-4.5B	-5.4B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	1.5B	2.1B	3.5B	4.1B	3.7B	4.3B	5.6B	7.7B	10.9B	11.7B
Accounts payable	4.7M	11.8M	67M	25.2M	14M	26.3M	58.8M	68.2M	147.1M	179.3M
Short-term debt	16M	12.6M	12.7M	18.2M	24.3M	32.2M	47M	62M	92.4M	85M
Total current liabilities	169.5M	282.6M	330M	399.8M	290.9M	464.8M	575.9M	685.3M	995.4M	1B
Long-term debt	573.9M	574.1M	1.3B	1.6B	1.8B	1.5B	1.2B	2.2B	3.3B	3.4B
Total liabilities	773.2M	888.1M	1.7B	2.1B	2.2B	2.1B	2.2B	3.6B	5.4B	5.7B
Shareholders' equity	691.4M	1.3B	1.8B	2B	1.5B	2.1B	3.3B	4.1B	5.5B	6B
Total debt	589.9M	586.7M	1.3B	1.6B	1.8B	1.6B	1.2B	2.3B	3.4B	3.5B
Net debt	377M	490.2M	1.2B	1.6B	1.8B	1.5B	702M	2.2B	3.4B	3.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	25.9M	52.7M	23.2M	15.2M	23.3M	23M	14.5M	10.5M	20.1M	15.3M	30.5M	26.3M
Receivables	477.6M	437.9M	485.7M	498.9M	553.5M	592.1M	573.1M	570.8M	538.4M	426.2M	593.3M	593.6M
Inventory	35.5M	41.8M	39.9M	38M	34.1M	38.5M	35M	43.1M	43.5M	43.8M	45.6M	50.2M
Total current assets	711.4M	715.9M	754.1M	738.4M	847.2M	927.3M	891.1M	915.9M	916.8M	816.6M	1.1B	1B
Property, plant & equipment	-3.8B	-3.9B	-4B	-4.2B	-4.2B	-4.5B	-4.7B	-4.9B	-5.1B	-5.4B	-5.7B	-5.9B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	7.4B	7.7B	8.2B	8.5B	10.6B	10.9B	11.1B	11.3B	11.6B	11.7B	12.2B	13.5B
Accounts payable	81.4M	68.2M	121.8M	96.2M	114.2M	147.1M	129M	143.7M	125.6M	179.3M	203.6M	243.8M
Short-term debt	67.8M	62M	69M	72.5M	86.6M	92.4M	92M	93.8M	110.1M	85M	97.1M	107.3M
Total current liabilities	722.3M	685.3M	851.3M	856.5M	966M	995.4M	1.1B	1.1B	1.3B	1B	1.5B	1.5B
Long-term debt	2.2B	2.2B	2B	2B	3.6B	3.3B	3.2B	3.3B	3.2B	3.4B	3.5B	4.2B
Total liabilities	3.6B	3.6B	3.6B	3.7B	5.5B	5.4B	5.4B	5.6B	5.8B	5.7B	6.3B	7.2B
Shareholders' equity	3.9B	4.1B	4.6B	4.9B	5.1B	5.5B	5.6B	5.7B	5.9B	6B	5.9B	6.3B
Total debt	2.3B	2.3B	2B	2.1B	3.7B	3.4B	3.3B	3.4B	3.3B	3.5B	3.6B	4.3B
Net debt	2.2B	2.2B	2B	2B	3.7B	3.4B	3.3B	3.4B	3.3B	3.5B	3.5B	4.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-97.1M	138M	299.8M	123M	-553.6M	640.6M	1.3B	910.4M	971.3M	860.8M
Depreciation & amortization	122M	177.5M	265.1M	350.5M	361.8M	344.9M	466.3M	716.7M	974.3M	1.2B
Stock-based compensation	12.4M	16.7M	17.2M	18.5M	13.6M	9M	15.1M	13.7M	15M	18.3M
Change in working capital	-3.7M	-67M	58M	-50.4M	10.9M	-17.5M	-118.3M	27.5M	-43.1M	53M
Operating cash flow	36M	266.9M	635.8M	481.4M	-208M	1.1B	2B	1.8B	2.2B	2.4B
Capital expenditure	-74.8M	-5.7M	-652.9M	-50.8M	-72.8M	-238.6M	-230.9M	-187.7M	-454.4M	-1.8B
Investing cash flow	-69.7M	-4.7M	-644.5M	-28.8M	-68M	-234.4M	-184.4M	-1.8B	-2.2B	-1.8B
Dividends paid	—	—	—	0	0	-14.6M	-35.2M	-77.2M	-104.9M	-163.1M
Share repurchases	—	—	—	—	—	—	—	—	—	-55.8M
Financing cash flow	467.6M	405.6M	887.4M	329.8M	370.3M	-277.6M	-480.9M	902.3M	1.4B	-282.6M
Net change in cash	433.9M	667.8M	878.7M	782.4M	94.3M	545.9M	1.3B	897.3M	1.5B	323.9M
Free cash flow	-319.8M	-521.1M	-915.1M	-373.9M	-302.9M	319.9M	894.8M	318M	280M	241.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	278.4M	275.9M	213.2M	247.5M	272.7M	237.9M	262.2M	182.4M	200.6M	215.5M	-15.8M	413.7M
Depreciation & amortization	192.8M	220.1M	212.3M	225.9M	242.8M	293.2M	281.9M	302.6M	305.4M	305.5M	292.7M	315.1M
Stock-based compensation	4.6M	2.9M	2.8M	3M	4.3M	4.9M	3.9M	4.6M	6.2M	3.7M	4.5M	6.1M
Change in working capital	-37.4M	45.1M	-43.9M	17.9M	-1.4M	-45.7M	78.8M	-85.1M	52.6M	-3.8M	-79.7M	111.9M
Operating cash flow	463M	592.5M	439.6M	548.2M	628.8M	557.6M	692.4M	501M	721.7M	474.4M	470.5M	937.1M
Capital expenditure	-64.7M	-67.1M	-202.3M	-53.8M	-65.7M	-132.6M	-81.7M	-454.8M	-426.4M	-510.8M	-397.1M	-389M
Investing cash flow	-64.4M	-120.8M	-201.4M	-53.8M	-1.8B	-7.6M	-59.4M	-454.8M	-426.2M	-510.8M	-396.3M	-389M
Dividends paid	-17.8M	-23.7M	-23.9M	-24.9M	-24.9M	-31.3M	-39.2M	-39M	-38.7M	-46.3M	-46.8M	-46.4M
Share repurchases	—	—	—	—	—	—	—	-44.2M	-6.5M	-5.1M	-707K	-11.4M
Financing cash flow	-41M	-25.4M	42.8M	-26.5M	1.6B	-165.8M	-233.4M	3.3M	-149.1M	96.7M	387K	661.3M
Net change in cash	357.6M	446.4M	281M	467.8M	390.4M	384.1M	399.5M	49.5M	146.3M	60.4M	74.7M	1.2B
Free cash flow	37.1M	123.2M	-75.7M	111.3M	185.8M	58.5M	194M	2.7M	158.5M	-113.6M	11.8M	-625.2M

Matador Resources Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement