Matador Resources Co
$53.47
+0.66 (+1.25%) · delayed · Nov 13, 2026
Five-year price
52w $39.55 to $66.84
- Market cap
- $6.6B
- Enterprise value
- $10.0B
- P/E
- 8.8×
- 7.9× on 3y avg EPS
- EV / EBIT
- 8.2×
- FCF yield
- 4.1%
- ROIC
- 11.3%
- Debt / equity
- 0.60
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
50
- ●ROIC > 12% (5y avg)5y avg ROIC 23.0%
- ●ROE > 15% (5y avg)5y avg ROE 24.4%
- ○Stable operating marginsMargin volatility 6.9% (σ, 5y)
- ○Earnings convert to cashFCF / net income -40% (5y avg)
- ●Growing revenueRevenue CAGR 5y 33.8%
- ○Shrinking share countDiluted shares 7.3% over 5y
Value
80
- ●P/E below 15P/E 8.8
- ●EV/EBIT below 12EV/EBIT 8.2
- ○FCF yield above 6%FCF yield 4.1%
- ●Price below Graham NumberGraham Number $79.15
- ●P/B below 3P/B 1.2
Safety
0
- ○Debt / equity below 0.5D/E 0.60
- ○Debt payable in < 4 yrs of earningsNet debt $3.4B
- ○Interest coverage > 8xCoverage 5.9x
- ○Current ratio > 1.5Current ratio 0.79
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
57
- ●Adequate size (revenue > $2B)Revenue $3.7B
- ○Strong condition (current ratio ≥ 2)Current ratio 0.79
- ○Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 689%
- ●Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 7.9
- ●P/E × P/B ≤ 22.5Product 9.2
Valuation lab
What do you have to believe?
At $53.47, the market is pricing in about 13.8% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $3.4B · 124M shares · 5y revenue CAGR 33.8%
Intrinsic value
$100.87
Price
$53.47
Margin of safety
47%
What the price implies
The market is paying for 13.8% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
70% of the value sits beyond year 10. That means the answer depends mostly on the long-run assumptions.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 264 | 544 | 830 | 1,026 | 851 | 1,862 | 3,197 | 2,818 | 3,479 | 3,657 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | (177) | 161 | 363 | 235 | (521) | 793 | 1,759 | 1,209 | 1,435 | 1,227 |
| Operating margin | -67.0% | 29.6% | 43.8% | 22.9% | -61.3% | 42.6% | 55.0% | 42.9% | 41.2% | 33.5% |
| Pre-tax income | (98) | 130 | 292 | 159 | (599) | 715 | 1,686 | 1,096 | 1,264 | 1,033 |
| Income tax | (1) | (8) | (8) | 36 | (46) | 75 | 399 | 186 | 292 | 173 |
| Net income | (97) | 126 | 274 | 88 | (593) | 585 | 1,214 | 846 | 885 | 759 |
| EPS (diluted) | -1.07 | 1.23 | 2.41 | 0.75 | -5.11 | 4.91 | 10.11 | 7.05 | 7.14 | 6.09 |
| Diluted shares | 91 | 103 | 114 | 117 | 116 | 119 | 120 | 120 | 124 | 125 |
Who owns it