VNOM changes
Pick any two versions below to diff them.
- Price
- $39.89 → $42.99(+7.8%)
- Discount category
- Below intrinsic value → Close to intrinsic value
- Balance sheet
- added: Cash: $77M Debt: $1.7B Net debt: $1.6B Net debt / EBITDA: 0.6× (low) Ratings: S&P BBB-, Fitch BBB- Viper owns royalties and pays no drilling costs, so it needs little capital. Its debt is modest for its cash removed: flow. added: flow, and Diamondback does not guarantee it. At June 30, 2026, removed: long-term added: the debt was removed: $1.68 billion, against $77 million of cash. The debt was $500 million of 4.900% senior notes due removed: 2030 and added: 2030, $1.1 billion of 5.700% senior notes due removed: 2035. Another added: 2035 and $95 million removed: was drawn on the revolving credit facility. The notes and the revolver sit at the operating subsidiary, Viper Energy Partners LLC, and Viper Energy, Inc. guarantees them. removed: Diamondback does not guarantee Viper's debt. In February 2026, Viper repaid a $500 million term loan in full with cash from the sale of its non-Permian assets. Thus debt fell from $2.19 billion at December 31, 2025. In June 2026, Viper raised the revolver to $2.0 billion and extended it to June 2031, which left about $2.0 billion of liquidity. removed: Net debt was about 0.6 times added: Leverage uses annualized Q2 2026 adjusted EBITDA (Q2 adjusted EBITDA was $339 million). Interest expense was $51 million in the first half of 2026. removed: S&P and Fitch rate Viper BBB-, which is added: Both ratings are investment grade. This low debt gives room to keep the new $2.00 base dividend and to buy back shares through a period of lower oil prices. As of Jun 30, 2026.