Diversified Energy Co (DEC) financial statements: income statement, balance sheet and cash flow
Diversified Energy Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Diversified Energy Co reported revenue of $1.8B and net income of $341.9M (+493.0% year on year).
Income statement
Diversified Energy Co income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Revenue, excluding gain (loss) on derivatives
$1.6B
—
—
Gain (loss) on derivatives
$217.7M
—
—
Revenues
$1.8B
—
—
Lease operating expense
($457.6M)
—
—
Production taxes
($86.7M)
—
—
Midstream operating expense
($79.2M)
—
—
Transportation expense
($115.3M)
—
—
Accretion of asset retirement obligation
($48.6M)
($30.9M)
($26.9M)
General and administrative expense
($167.6M)
—
—
Depreciation, depletion and amortization
($412.5M)
($256.5M)
($224.5M)
Gain (loss) on natural gas and oil properties and equipment
$73.4M
$25.7M
$24.1M
Total operating expense
($1.3B)
—
—
Income (loss) from operations
$535.0M
—
—
Gain (loss) on sale of equity interest
$0
($7.4M)
$18.4M
Interest expense
($210.0M)
—
—
Loss on debt extinguishment
$27.0M
—
—
Other income (expense)
($3.3M)
$2.3M
$385.0K
Income (loss) before taxation
$301.3M
($224.0M)
$1.0B
Income tax benefit (expense)
$40.5M
—
—
Other comprehensive income (loss)
$352.0K
($1.8M)
($270.0K)
Total comprehensive income (loss)
$342.3M
($88.8M)
$759.4M
Net income (loss)
$341.1M
—
—
Noncontrolling interest
$784.0K
—
—
Net income (loss)
$341.9M
($87.0M)
$759.7M
Basic (in usd per share)
$4.67
—
—
Diluted (in usd per share)
$4.58
—
—
Basic (in shares)
73.0M
—
—
Diluted (in shares)
74.5M
—
—
Diversified Energy Co income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Revenue, excluding gain (loss) on derivatives
$520.9M
$575.5M
—
—
Gain (loss) on derivatives
$291.0M
($548.4M)
—
—
Total revenue
$811.9M
$27.1M
—
—
Lease operating expense
($141.2M)
($133.0M)
—
—
Production taxes
($29.7M)
($30.5M)
—
—
Midstream operating expense
($20.4M)
($20.2M)
—
—
Transportation expense
($24.4M)
($28.6M)
—
—
Accretion of asset retirement obligation
($13.5M)
($13.2M)
($24.1M)
($14.7M)
General and administrative expense
($43.5M)
($41.7M)
($90.3M)
($58.3M)
Depreciation, depletion and amortization
($103.4M)
($108.6M)
($164.2M)
($119.2M)
Gain (loss) on natural gas and oil properties and equipment
$36.1M
$98.1M
—
—
Total operating expense
($340.1M)
($277.7M)
—
—
Income (loss) from operations
$471.8M
($250.6M)
—
—
Interest expense
($61.3M)
($63.4M)
—
—
Loss on debt extinguishment
($23.9M)
$0
—
—
Other income (expense)
$698.0K
$548.0K
$1.1M
$1.3M
Income (loss) before taxation
$387.3M
($313.4M)
($27.5M)
($82.3M)
Income tax benefit (expense)
($139.7M)
$152.8M
($6.5M)
$98.0M
Other comprehensive income (loss)
$0
$0
($138.0K)
($1.9M)
Total comprehensive income (loss)
$247.6M
($160.7M)
($34.1M)
$13.8M
DEC
$246.9M
($160.6M)
—
—
Noncontrolling interest
$656.0K
($48.0K)
—
—
Net income (loss)
$247.6M
($160.7M)
($33.9M)
$15.7M
Basic (in usd per share)
$3.42
-$2.13
—
—
Diluted (in usd per share)
$3.31
-$2.13
—
—
Basic (in shares)
72.3M
75.3M
—
—
Diluted (in shares)
74.7M
75.3M
—
—
Balance sheet
Diversified Energy Co balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Cash and cash equivalents
$29.7M
$6.0M
$3.8M
Restricted cash
$21.8M
$34.8M
$25.1M
Accounts receivable, net
$408.4M
—
—
Derivatives
$153.2M
—
—
Prepaid expenses and other current assets
$37.2M
—
—
Total current assets
$650.2M
$304.3M
$304.6M
Proved natural gas and oil properties
$5.8B
—
—
Unproved natural gas and oil properties
$19.8M
—
—
Accumulated depletion
($1.3B)
—
—
Natural gas and oil properties, net
$4.5B
$2.9B
$2.5B
Property, plant, and equipment, net
$446.0M
$449.5M
$456.2M
Restricted cash
$93.7M
$11.4M
$11.2M
Deferred tax assets
$287.1M
$259.3M
$144.9M
Other assets
$184.2M
—
—
Total assets
$6.2B
$4.0B
$3.5B
Accounts payable
$81.8M
—
—
Accrued liabilities
$193.7M
—
—
Revenue to be distributed
$240.1M
—
—
Current portion of long-term debt, net
$236.6M
—
—
Derivatives
$156.0M
—
—
Other current liabilities
$167.5M
$304.5M
$277.5M
Total current liabilities
$1.1B
$760.0M
$638.4M
Asset retirement obligations
$863.8M
$642.1M
$501.2M
Long-term debt, net
$2.7B
—
—
Derivatives
$440.6M
—
—
Other liabilities
$78.4M
—
—
Total liabilities
$5.2B
$3.5B
$2.9B
Common stock ($0.01 par value; 350,000,000 shares authorized; 76,979,625 and 50,649,844 shares issued and outstanding)
769.0K
—
—
Additional paid in capital
$1.5B
—
—
Accumulated other comprehensive income (loss)
($583.0K)
—
—
Retained earnings (accumulated deficit)
($507.8M)
($725.0M)
($547.3M)
Total stockholders' equity attributable to DEC
$984.1M
—
—
Noncontrolling interests
$10.9M
—
—
Total stockholders' equity
$995.0M
—
—
Total liabilities and stockholders' equity
$6.2B
—
—
Diversified Energy Co balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Jun 30, 2025
Jun 30, 2024
Cash and cash equivalents
$8.2M
$54.5M
$23.7M
$3.5M
Restricted cash
$11.4M
$17.3M
$82.8M
$36.4M
Accounts receivable, net
$407.8M
$411.7M
—
—
Derivatives
$83.9M
$76.9M
—
—
Prepaid expenses and other current assets
$40.1M
$66.9M
—
—
Total current assets
$551.5M
$627.4M
$487.1M
$289.0M
Proved natural gas and oil properties
$5.9B
$5.9B
—
—
Unproved natural gas and oil properties
$19.2M
$19.8M
—
—
Accumulated depletion
($1.4B)
($1.4B)
—
—
Natural gas and oil properties, net
$4.5B
$4.5B
$4.2B
$2.7B
Property, plant, and equipment, net
$458.3M
$460.3M
$540.1M
$455.1M
Operating right of use assets
$31.3M
—
—
—
Restricted cash
$83.7M
$83.7M
$20.3M
$18.6M
Derivatives
$37.6M
—
—
—
Deferred tax assets
$312.6M
$436.2M
—
—
Other assets
$99.0M
$170.7M
—
—
Total assets
$6.1B
$6.2B
$5.7B
$3.8B
Accounts payable
$129.5M
$76.4M
—
—
Accrued liabilities
$166.5M
$158.8M
—
—
Revenue to be distributed
$241.2M
$264.2M
—
—
Current portion of long-term debt, net
$107.1M
$235.3M
—
—
Operating lease liabilities
$11.0M
—
—
—
Derivatives
$137.9M
$336.7M
—
—
Derivatives settlements payable
$42.8M
$120.2M
—
—
Other current liabilities
$133.9M
$144.1M
$379.7M
$229.8M
Total current liabilities
$969.8M
$1.3B
$906.4M
$658.0M
Asset retirement obligations
$881.0M
$870.0M
$883.1M
$510.9M
Operating lease liabilities
$20.5M
—
—
—
Long-term debt, net
$2.8B
$2.7B
—
—
Derivatives
$378.5M
$540.7M
—
—
Other liabilities
$74.8M
$93.0M
—
—
Total liabilities
$5.1B
$5.5B
$4.9B
$3.3B
Common stock ($0.01 par value; 350,000,000 authorized; 71,388,065 and 76,979,625 shares issued and outstanding)
713.0K
723.0K
—
—
Additional paid in capital
$1.4B
$1.4B
—
—
Accumulated other comprehensive income (loss)
($583.0K)
($583.0K)
—
—
Retained earnings (accumulated deficit)
($468.3M)
($692.9M)
($802.0M)
($591.6M)
Total stockholders' equity attributable to DEC
$950.7M
$733.4M
—
—
Noncontrolling interests
$10.9M
$10.6M
—
—
Total stockholders' equity
$961.6M
$744.0M
—
—
Total liabilities and stockholders' equity
$6.1B
$6.2B
—
—
Cash flow statement
Diversified Energy Co cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Net income (loss)
$341.9M
($87.0M)
—
Depreciation, depletion and amortization
$412.5M
$256.5M
$224.5M
Accretion of asset retirement obligations
$48.6M
$30.9M
$26.9M
Income tax (benefit) expense
($40.5M)
($137.0M)
$240.6M
(Gain) loss on derivatives
($217.7M)
—
—
Cash proceeds (payments) on settlement of derivatives
$23.8M
—
—
Settlement of asset retirement costs
($28.1M)
—
—
Gain (loss) on natural gas and oil properties and equipment
($73.4M)
($25.7M)
($24.1M)
(Gain) loss on sale of equity interest
$0
$7.4M
($18.4M)
Loss on early retirement of debt
$27.0M
$14.8M
—
Derivative modifications
$0
—
—
Non-cash share-based compensation
$10.4M
—
—
Other
$15.7M
—
—
Accounts receivable, net
$2.6M
—
—
Other assets
($8.8M)
—
—
Accounts payable
($17.0M)
—
—
Other liabilities
($32.5M)
—
—
Net cash provided by operating activities
$464.6M
$345.7M
$410.1M
Consideration for business acquisitions, net of cash acquired
($329.7M)
$0
$0
Consideration for asset acquisitions, net of cash acquired
($477.4M)
—
—
Proceeds from divestitures
$171.6M
$59.0M
$95.7M
Capital expenditures
($184.6M)
—
—
Deferred consideration payments
$0
($1.1M)
($2.6M)
Net cash (used in) investing activities
($820.2M)
($272.9M)
($239.4M)
Repayment of borrowings
($2.4B)
($1.7B)
($1.5B)
Proceeds from borrowings
$3.2B
$1.8B
$1.5B
Prepayment charge on early retirement of debt
$0
($1.8M)
—
Debt issuance costs
($35.2M)
($20.3M)
($13.8M)
Hedge modifications associated with ABS Notes
($171.1M)
$0
($6.4M)
Proceeds from equity issuance, net
$117.5M
$0
$156.8M
Proceeds from lease modifications
$0
$8.6M
—
Principal element of lease payments
($15.8M)
($14.3M)
($12.2M)
Dividends to stockholders
($85.0M)
—
—
Distributions to noncontrolling interest owners
($1.7M)
—
—
Repurchases of common stock (stock repurchase program)
($76.8M)
—
—
Repurchases of common stock by the EBT, net
($22.7M)
—
—
Net cash provided by (used in) financing activities
$448.4M
—
($174.3M)
Net change in cash, cash equivalents and restricted cash
$92.9M
—
—
Cash, cash equivalents and restricted cash, beginning of period
$52.3M
—
—
Cash, cash equivalents and restricted cash, end of period
$145.1M
—
—
Cash and cash equivalents
$29.7M
—
—
Restricted cash
$115.4M
—
—
Total cash, cash equivalents and restricted cash
$145.1M
—
—
Diversified Energy Co cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Net income (loss)
$86.9M
($160.7M)
($33.9M)
$15.7M
Depreciation, depletion and amortization
$212.0M
$108.6M
$164.2M
$119.2M
Accretion of asset retirement obligations
$26.7M
$13.2M
$24.1M
$14.7M
Income tax (benefit) expense
($13.1M)
($152.8M)
$6.5M
($98.0M)
(Gain) loss on derivatives
$257.3M
$548.4M
—
—
Cash proceeds (payments) on settlement of derivatives
($211.9M)
($150.5M)
—
—
Settlement of asset retirement costs
($21.8M)
($9.8M)
—
—
(Gain) loss on natural gas and oil properties and equipment
($134.1M)
($98.1M)
($64.1M)
($7.2M)
Loss on early retirement of debt
$23.9M
$0
$39.5M
($10.6M)
Non-cash share-based compensation
$9.4M
$4.5M
—
—
Other
$11.6M
$13.7M
—
—
Accounts receivable, net
($8.6M)
($6.4M)
—
—
Other assets
($8.5M)
($9.8M)
—
—
Accounts payable
$44.7M
($6.3M)
—
—
Other liabilities
($17.1M)
$74.6M
—
—
Net cash provided by operating activities
$257.5M
$168.7M
$264.1M
$160.8M
Consideration for business acquisitions, net of cash acquired
$0
$0
($192.9M)
—
Consideration for asset acquisitions, net of cash acquired
($262.0M)
($42.8M)
—
—
Proceeds from divestitures
$258.9M
$102.1M
$69.6M
$9.9M
Capital expenditures
($98.4M)
($58.0M)
—
—
Net cash (used in) investing activities
($101.5M)
$1.3M
($259.0M)
($183.6M)
Repayment of borrowings
($2.2B)
($747.2M)
($1.9B)
($1.1B)
Proceeds from borrowings
$2.2B
$690.5M
$2.2B
$1.2B
Prepayment charge on early retirement of debt
($24.2M)
—
—
—
Debt issuance costs
($13.8M)
($3.9M)
—
—
Hedge modifications associated with ABS Notes
($8.0M)
$0
($171.1M)
$0
Proceeds from equity issuance, net
$0
$0
$117.5M
$0
Principal element of lease payments
($12.3M)
($5.2M)
($9.7M)
($6.4M)
Dividends to stockholders
($43.0M)
($22.1M)
—
—
Distributions to noncontrolling interest owners
($656.0K)
($294.0K)
—
—
Repurchases of common stock (stock repurchase program)
($82.5M)
($71.5M)
—
—
Repurchases of common stock by the EBT, net
$0
—
—
—
Net cash (used in) provided by financing activities
($197.7M)
($159.7M)
—
—
Net change in cash, cash equivalents and restricted cash
($41.7M)
$10.4M
—
—
Cash, cash equivalents and restricted cash, beginning of period
$145.1M
$145.1M
—
—
Cash, cash equivalents and restricted cash, end of period