Viper Energy (VNOM) Operating Expenses (2024 - 2026)
Viper Energy's (VNOM) quarterly Operating Expenses came in at $258.0 million in Q1 2026, up 186.67% year-on-year from $90.0 million in Q1 2025, and down 62.55% on a QoQ basis from $689.0 million in Q4 2025.
Viper Energy (VNOM) Operating Expenses (2024 - 2026) Analysis & Trends
Viper Energy (VNOM) has 3 years of Operating Expenses data on file, last reported at $258.0 million in Q1 2026.
- On a quarterly basis, Operating Expenses rose 186.67% year-over-year to $258.0 million in Q1 2026; TTM through Mar 2026 was $1.6 billion, a N/A change from a year earlier, with the FY2025 full-year figure at $1.5 billion, up 422.11% from the prior year.
- Operating Expenses for Q1 2026 stood at $258.0 million, down from $689.0 million in the prior quarter.
- Over the last five years, Operating Expenses for VNOM reached as high as $689.0 million in Q4 2025 and fell as low as $75.0 million in Q3 2024.
- Historically, Operating Expenses has averaged $298.5 million across 3 years, with a median of $174.0 million in 2025.
- Across the five-year window, Operating Expenses jumped 710.59% in 2025 and surged 186.67% in 2026, its largest moves.
- Year by year, Operating Expenses stood at $85.0 million in 2024, then soared by 710.59% to $689.0 million in 2025, then sank by 62.55% to $258.0 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $258.0 million in Q1 2026, $689.0 million in Q4 2025, and $594.0 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 78.81 Mn |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | -21.81 Mn |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 3.13 Bn |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 13.95 Bn |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | 12.50 Bn |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 915.00 Mn |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 24.79 Bn |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 333.70 Mn |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 7.00 Mn |
| 10 | Viper Energy | 8.18 Bn | 13.41 Bn | - | 258.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 258.00 Mn |
| Dec 31, 2025 | 689.00 Mn |
| Sep 30, 2025 | 594.00 Mn |
| Mar 31, 2025 | 90.00 Mn |
| Dec 31, 2024 | 85.00 Mn |
| Sep 30, 2024 | 75.00 Mn |