Is FANG diluting shareholders?

Read three numbers together: shares outstanding over time (280.0M as of 2026-07-31), warrants that can convert into new shares, and how much cash runway remains. A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

Dilution profile // every instrument, one screen, from SEC filings

Diamondback Energy, Inc. (FANG)

CIK 1539838 · all EDGAR filings →

Overall dilution risk

HIGHworst of 3 computed signals (offering ability)

= the worst band among the computed sub-ratings, no hidden weighting

not every sub-rating was computable; treat as a floor

Offering ability

HIGH$21124M registered

= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)

one or more live registrations had no structured fee data, so the true total is AT LEAST this

Overhead supply

NOT COMPUTEDno warrant count tagged in XBRL

= warrant shares outstanding divided by current shares outstanding

absence of a tag is not proof of absence of warrants

Historical dilution

MEDIUM+56% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

Cash need

LOWoperating cash flow positive

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Latest: 280.0M shares as of Jul 31, 2026 (10-Q).

Cash runway

Self-funding

profitable · generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Tranche	Warrants	Exercise price	Term	Notes
Option For Certain Viper LLC Equity Holders	6.8M	not tagged	—	—

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 5, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

No convertible-note facts tagged in the 10-Q filed Aug 5, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding	280.0M	Jul 31, 2026
+ Option For Certain Viper LLC Equity Holders (if exercised)	6.8M	Jun 30, 2026
Fully diluted estimate	286.8M	+2.4% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $21123.9Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRNov 21, 2025fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →

S-3ASRApr 7, 2025$842.6M registeredfiling →

S-3ASRSep 19, 2024$20281.3M registeredfiling →

Last 12 months: 0 executed · 1 registered.

UPDATEMar 12, 2026Resale prospectus — existing holders registering to sell424B7 →

UPDATEMar 10, 2026Resale prospectus — existing holders registering to sell424B7 →

REGISTEREDNov 21, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR →

REGISTEREDApr 7, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR →

EXECUTEDMar 10, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

EXECUTEDMar 6, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

MARKETINGMar 6, 2025Free-writing prospectus — offering being marketedFWP →

EXECUTEDFeb 18, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

UPDATESep 23, 2024Resale prospectus — existing holders registering to sell424B7 →

REGISTEREDSep 19, 2024Automatic shelf registration — effective immediately (large filers)S-3ASR →

UPDATESep 19, 2024Resale prospectus — existing holders registering to sell424B7 →

EXECUTEDSep 10, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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