Viper Energy, Inc.

Permian-focused mineral & royalty company with dominant operating cash generation and rapid growth, but a GAAP net loss driven by lower commodity prices and acquisition/DD&A.

Strengths

• Top-decile cash generation — OCF margin 78% (100th pct) — with revenue growth 57.6% (88th pct) and strong liquidity (current ratio 3.7, 90th pct)
• Capital-light royalty model on Permian acreage operated largely by Diamondback

Risks

• GAAP net loss this year (net margin -5%, ROE -1.5%, net income growth -119%) amid falling realized prices
• Dependence on a small set of operators and Permian geographic concentration

Notable findings

• Exec changeRecent 8-K item 5.02 8-K ↗
• Net lossNet loss (net margin -4.9%)