Friday 6 November 2026 Export MTDR’s income statement to Excel — free account

Matador Resources Company

Matador Resources Company’s revenue for fiscal 2025 (year ended December 2025) was $3.7 billion, up 5.46% from fiscal 2024.

Revenue: +23.8%
EPS: +11.0%
Free cash flow: −65.1%
Total debt: +54.3%

Quarter to September 2026, against a year earlier

50.13 0.24 −0.48%

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Market cap: $6.2B
P/E: 8.4×
Fwd P/E: 8.7×
Dividend yield: 2.99%
F-score: 4/9
Altman Z: 1.57
Beneish M: −3.28
Dividend safety: 78/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Matador Resources Company (MTDR) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2023: revenue by products and services, and margins
Crude Oil, Condensate, and Natural Gas Liquids (NGL)	2,145	76.42%
Natural gas revenues	401	14.28%
Sales of purchased natural gas	150	5.34%
Third-party midstream services revenues	122	4.35%
Gross margin		90.97%
Operating margin		43.09%
Pre-tax margin		39.06%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Crude Oil, Condensate, and Natural Gas Liquids (NGL)	2,840 77.67%	2,772 79.69%	2,145 76.12%	2,114 66.12%	1,206 64.75%	596 69.97%	760 74.04%	636 76.60%	—
Natural gas revenues	399 10.90%	371 10.68%	401 14.22%	792 24.78%	495 26.58%	149 17.50%	133 12.91%	165 19.90%	—
Sales of purchased natural gas	253 6.92%	194 5.58%	150 5.32%	200 6.27%	86 4.62%	42 4.90%	75 7.29%	7 0.85%	0 0.00%
Third-party midstream services revenues	165 4.51%	141 4.05%	122 4.34%	91 2.83%	75 4.05%	65 7.63%	59 5.76%	22 2.64%	10 1.87%
Other, not broken out	—	—	—	—	—	—	—	—	5 0.99%
Oil and natural gas revenues	3,239	3,144	2,546	2,906	1,701	744	892	801	—
Revenue	3,657	3,479	2,818	3,197	1,862	851	1,026	830	544

Gross profit by product or service $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Third-party midstream services revenues	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Average daily production volumes: Natural gas	Q3 FY2026	590.7M	—	—
Average daily production volumes: Oil	Q3 FY2026	132.0K	—	—
Average daily production volumes: Total oil equivalent	Q3 FY2026	230.5K	—	—
Average sales prices: Natural gas, without realized derivatives	Q3 FY2026	$2.99	—	—
Average sales prices: Natural gas, with realized derivatives	Q3 FY2026	$2.81	—	—
Average sales prices: Oil, without realized derivatives	Q3 FY2026	$87.25	—	—
Average sales prices: Oil, with realized derivatives	Q3 FY2026	$74.84	—	—
General and administrative expenses per BOE	Q3 FY2026	$2.11	—	—
Lease operating expenses per BOE	Q3 FY2026	$5.66	—	—
Net operated horizontal wells turned to sales	Q2 FY2026	23.70	22.80	+3.95%
Net production volumes: Natural gas	Q3 FY2026	54.3B	—	—
Net production volumes: Oil	Q3 FY2026	12.1M	—	—
Net production volumes: Total oil equivalent	Q3 FY2026	21.2M	—	—
Plant and other midstream operating expenses per BOE	Q3 FY2026	$3.89	—	—
Production taxes, transportation and processing per BOE	Q2 FY2025	$4.35	$5.27	−17.46%
San Mateo natural gas gathering	Q3 FY2026	731.0M	—	—
San Mateo natural gas processing	Q3 FY2026	695.0M	—	—
San Mateo oil gathering and transportation	Q3 FY2026	38.3K	—	—
San Mateo produced water handling	Q2 FY2025	414.4K	429.8K	−3.58%
Taxes other than income per BOE	Q3 FY2026	$4.75	—	—
Total operating expenses per BOE	Q3 FY2026	$33.67	—	—
Transportation and processing expenses per BOE	Q3 FY2026	$1.08	—	—

	Q3 FY2026	Q2 FY2026	Q4 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024
Average daily production volumes: Natural gas	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily production volumes: Oil	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily production volumes: Total oil equivalent	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average sales prices: Natural gas, without realized derivatives	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average sales prices: Natural gas, with realized derivatives	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average sales prices: Oil, without realized derivatives	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average sales prices: Oil, with realized derivatives	‡	‡	‡	‡	‡	‡	‡	‡	‡
General and administrative expenses per BOE	‡	‡	‡	‡	‡	‡	‡	‡	‡
Lease operating expenses per BOE	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net operated horizontal wells turned to sales	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net production volumes: Natural gas	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net production volumes: Oil	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net production volumes: Total oil equivalent	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant and other midstream operating expenses per BOE	‡	‡	‡	‡	‡	‡	‡	‡	‡
Production taxes, transportation and processing per BOE	‡	‡	‡	‡	‡	‡	‡	‡	‡
San Mateo natural gas gathering	‡	‡	‡	‡	‡	‡	‡	‡	‡
San Mateo natural gas processing	‡	‡	‡	‡	‡	‡	‡	‡	‡
San Mateo oil gathering and transportation	‡	‡	‡	‡	‡	‡	‡	‡	‡
San Mateo produced water handling	‡	‡	‡	‡	‡	‡	‡	‡	‡
Taxes other than income per BOE	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total operating expenses per BOE	‡	‡	‡	‡	‡	‡	‡	‡	‡
Transportation and processing expenses per BOE	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.