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
DateValue
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