Diversified Energy Company (DEC) financial statements
Diversified Energy Company reported revenue of $1.8B in fiscal 2025, up 16.1% a year over 4 years.
Net income was $341M and the operating margin 29.2%, against -46.4% in 2021.
Free cash flow was $280M, and the company returned $85M in dividends.
The diluted share count rose 88% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Diversified Energy Company's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.0B | $1.9B | $1.9B | $757M | $1.8B |
| Gross profit | $549M | $1.3B | $203M | $109M | — |
| Selling, general and admin | $102M | $171M | $129M | $130M | $168M |
| Operating income | -$467M | -$671M | $1.1B | -$97M | $535M |
| Interest expense | $51M | $101M | $131M | $137M | $210M |
| Pre-tax income | -$551M | -$800M | $990M | -$248M | $301M |
| Income tax | -$226M | -$179M | $239M | -$145M | -$41M |
| Net income | -$326M | -$625M | $749M | -$104M | $341M |
| EPS (diluted) | -$8.20 | -$14.82 | $15.76 | -$2.17 | $4.58 |
| Diluted shares | 40M | 42M | 48M | 48M | 74M |
| Gross margin | 54.5% | 65.2% | 10.4% | 14.5% | — |
| Operating margin | -46.4% | -35.0% | 56.9% | -12.8% | 29.2% |
| Net margin | -32.3% | -32.6% | 38.4% | -13.8% | 18.6% |
Balance sheet
Fiscal years, from Diversified Energy Company's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $13M | $7M | $4M | $6M | $30M |
| Receivables | — | $297M | $190M | $234M | $408M |
| Inventory | — | $9M | $8M | $10M | $28M |
| Total current assets | — | $354M | $305M | $304M | $650M |
| Property, plant and equipment | $414M | $463M | $442M | $426M | $446M |
| Total assets | — | $3.8B | $3.5B | $4.0B | $6.2B |
| Total current liabilities | — | $1.1B | $638M | $777M | $1.1B |
| Long-term debt | — | $1.2B | $1.1B | $1.5B | $2.7B |
| Total liabilities | — | $4.0B | $2.9B | $3.5B | $5.2B |
| Shareholders' equity | $664M | -$153M | $538M | $400M | $984M |
| Net debt | -$13M | $1.2B | -$4M | $1.7B | $2.9B |
Cash flow
Fiscal years, from Diversified Energy Company's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $320M | $388M | $291M | $221M | $465M |
| Capital spending | — | — | $74M | $52M | $185M |
| Free cash flow | — | — | $217M | $169M | $280M |
| Stock-based compensation | $7M | $8M | $6M | $8M | $10M |
| Dividends paid | $130M | $143M | $168M | $84M | $85M |
| Share buybacks (net) | $0 | -$23M | $0 | -$5M | — |
| Net borrowing | $295M | $448M | -$11M | $191M | $739M |
| Free cash flow margin | — | — | 11.1% | 22.3% | 15.3% |
| Dividends per share | $3.28 | $3.40 | $3.54 | $1.75 | $1.14 |
Questions
What was Diversified Energy Company's revenue in 2025?
$1.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does Diversified Energy Company generate?
$280M in fiscal 2025 (operating cash flow minus capital spending).
From Diversified Energy Company's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.