Comprehensive Stock Comparison
Compare Mach Natural Resources LP (MNR) vs California Resources Corporation (CRC) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | MNR | 27.2% revenue growth vs CRC's 5.1% |
| Value | MNR | Lower P/E (12.9x vs 45.3x) |
| Quality / Margins | MNR | 28.5% net margin vs CRC's 10.9% |
| Stability / Safety | MNR | Beta 0.68 vs CRC's 1.26 |
| Dividends | MNR | 24.4% yield, 1-year raise streak, vs CRC's 2.4% |
| Momentum (1Y) | CRC | +35.4% vs MNR's +0.9% |
| Efficiency (ROA) | MNR | 7.7% ROA vs CRC's 5.7%, ROIC 11.7% vs 14.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Mach Natural Resources is an independent oil and gas company that acquires, develops, and produces oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region. It makes money primarily from the sale of produced hydrocarbons — oil, natural gas, and NGLs — with revenue mix depending on commodity prices and production volumes. The company's competitive advantage lies in its strategic focus on the prolific Anadarko Basin and its operational expertise in developing these specific assets.
California Resources Corporation is an independent oil and natural gas exploration and production company focused exclusively on California. It generates revenue primarily from crude oil sales (~60%), natural gas and natural gas liquids (~25%), and electricity generation from its cogeneration facilities (~15%). The company's key advantage is its extensive mineral acreage position—approximately 1.9 million net acres—in a mature, high-barrier-to-entry California market with established infrastructure.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
MNR leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). CRC leads in 1 (Total Returns). 2 tied.
Financial Metrics (TTM)
CRC is the larger business by revenue, generating $3.5B annually — 3.5x MNR's $1.0B. MNR is the more profitable business, keeping 28.5% of every revenue dollar as net income compared to CRC's 10.9%. On growth, MNR holds the edge at +6.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | MNRMach Natural Reso… | CRCCalifornia Resour… |
|---|---|---|
| RevenueTrailing 12 months | $1.0B | $3.5B |
| EBITDAEarnings before interest/tax | $559M | $1.4B |
| Net IncomeAfter-tax profit | $292M | $384M |
| Free Cash FlowCash after capex | $220M | $545M |
| Gross MarginGross profit ÷ Revenue | +40.2% | +37.9% |
| Operating MarginEBIT ÷ Revenue | +19.8% | +21.2% |
| Net MarginNet income ÷ Revenue | +28.5% | +10.9% |
| FCF MarginFCF ÷ Revenue | +21.5% | +15.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +6.7% | -11.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -140.0% | -79.9% |
Valuation Metrics
At 6.9x trailing earnings, MNR trades at a 46% valuation discount to CRC's 12.7x P/E. On an enterprise value basis, MNR's 5.1x EV/EBITDA is more attractive than CRC's 4761.3x.
| Metric | MNRMach Natural Reso… | CRCCalifornia Resour… |
|---|---|---|
| Market CapShares × price | $2.2B | $5.36T |
| Enterprise ValueMkt cap + debt − cash | $2.9B | $5.36T |
| Trailing P/EPrice ÷ TTM EPS | 6.85x | 12.74x |
| Forward P/EPrice ÷ next-FY EPS est. | 12.91x | 45.26x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 5.08x | 4761.27x |
| Price / SalesMarket cap ÷ Revenue | 2.26x | 1812.76x |
| Price / BookPrice ÷ Book value/share | 1.06x | 1.35x |
| Price / FCFMarket cap ÷ FCF | 7.69x | 9999.00x |
Profitability & Efficiency
MNR delivers a 14.8% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $11 for CRC. CRC carries lower financial leverage with a 0.35x debt-to-equity ratio, signaling a more conservative balance sheet compared to MNR's 0.64x. On the Piotroski fundamental quality scale (0–9), MNR scores 5/9 vs CRC's 3/9, reflecting solid financial health.
| Metric | MNRMach Natural Reso… | CRCCalifornia Resour… |
|---|---|---|
| ROE (TTM)Return on equity | +14.8% | +11.2% |
| ROA (TTM)Return on assets | +7.7% | +5.7% |
| ROICReturn on invested capital | +11.7% | +14.5% |
| ROCEReturn on capital employed | +14.5% | +13.7% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 3 |
| Debt / EquityFinancial leverage | 0.64x | 0.35x |
| Net DebtTotal debt minus cash | $660M | $851M |
| Cash & Equiv.Liquid assets | $106M | $372M |
| Total DebtShort + long-term debt | $766M | $1.2B |
| Interest CoverageEBIT ÷ Interest expense | 2.60x | 5.95x |
Total Returns (with DRIP)
A $10,000 investment in CRC five years ago would be worth $24,361 today (with dividends reinvested), compared to $10,191 for MNR. Over the past 12 months, CRC leads with a +35.4% total return vs MNR's +0.9%. The 3-year compound annual growth rate (CAGR) favors CRC at 14.3% vs MNR's 0.6% — a key indicator of consistent wealth creation.
| Metric | MNRMach Natural Reso… | CRCCalifornia Resour… |
|---|---|---|
| YTD ReturnYear-to-date | +20.4% | +26.8% |
| 1-Year ReturnPast 12 months | +0.9% | +35.4% |
| 3-Year ReturnCumulative with dividends | +1.9% | +49.2% |
| 5-Year ReturnCumulative with dividends | +1.9% | +143.6% |
| 10-Year ReturnCumulative with dividends | +1.9% | +1037.4% |
| CAGR (3Y)Annualised 3-year return | +0.6% | +14.3% |
Risk & Volatility
MNR is the less volatile stock with a 0.68 beta — it tends to amplify market swings less than CRC's 1.26 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CRC currently trades 98.0% from its 52-week high vs MNR's 81.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MNRMach Natural Reso… | CRCCalifornia Resour… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.68x | 1.26x |
| 52-Week HighHighest price in past year | $15.91 | $60.03 |
| 52-Week LowLowest price in past year | $10.46 | $30.97 |
| % of 52W HighCurrent price vs 52-week peak | +81.8% | +98.0% |
| RSI (14)Momentum oscillator 0–100 | 55.4 | 61.0 |
| Avg Volume (50D)Average daily shares traded | 295K | 696K |
Analyst Outlook
Wall Street rates MNR as "Buy" and CRC as "Buy". Consensus price targets imply 45.9% upside for MNR (target: $19) vs 11.7% for CRC (target: $66). For income investors, MNR offers the higher dividend yield at 24.36% vs CRC's 2.36%.
| Metric | MNRMach Natural Reso… | CRCCalifornia Resour… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $19.00 | $65.71 |
| # AnalystsCovering analysts | 15 | 23 |
| Dividend YieldAnnual dividend ÷ price | +24.4% | +2.4% |
| Dividend StreakConsecutive years of raises | 1 | 3 |
| Dividend / ShareAnnual DPS | $3.17 | $1.39 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Oct 23 | Feb 26 | Change |
|---|---|---|---|
| Mach Natural Resour… (MNR) | 100 | 63.36 | -36.6% |
| California Resource… (CRC) | 100 | 101.09 | +1.1% |
California Resource… (CRC) returned +144% over 5 years vs Mach Natural Resour… (MNR)'s +2%. A $10,000 investment in CRC 5 years ago would be worth $24,361 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Mach Natural Resour… (MNR) | $392M | $970M | +147.0% |
| California Resource… (CRC) | $2.4B | $3.0B | +25.8% |
California Resources Corporation's revenue grew from $2.4B (2015) to $3.0B (2024) — a 2.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Mach Natural Resour… (MNR) | 35.3% | 19.1% | -45.8% |
| California Resource… (CRC) | -151.2% | 12.7% | +108.4% |
California Resources Corporation's net margin went from -151% (2015) to 13% (2024).
Chart 4P/E Ratio History — 6 Years
| Stock | 2018 | 2024 | Change |
|---|---|---|---|
| California Resource… (CRC) | 2.5 | 11.2 | +348.0% |
California Resources Corporation has traded in a 1x–11x P/E range over 6 years; current trailing P/E is ~13x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Mach Natural Resour… (MNR) | 1.46 | 1.9 | +30.1% |
| California Resource… (CRC) | -92.79 | 4.62 | +105.0% |
California Resources Corporation's EPS grew from $-92.79 (2015) to $4.62 (2024).
Chart 6Free Cash Flow — 5 Years
Mach Natural Resources LP generated $285M FCF in 2024 (+81% vs 2021). California Resources Corporation generated $350M FCF in 2024 (-25% vs 2021).
MNR vs CRC: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is MNR or CRC a better buy right now?
Mach Natural Resources LP (MNR) offers the better valuation at 6.9x trailing P/E (12.9x forward), making it the more compelling value choice. Analysts rate Mach Natural Resources LP (MNR) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MNR or CRC?
On trailing P/E, Mach Natural Resources LP (MNR) is the cheapest at 6.9x versus California Resources Corporation at 12.7x. On forward P/E, Mach Natural Resources LP is actually cheaper at 12.9x.
03Which is the better long-term investment — MNR or CRC?
Over the past 5 years, California Resources Corporation (CRC) delivered a total return of +143.6%, compared to +1.9% for Mach Natural Resources LP (MNR). A $10,000 investment in CRC five years ago would be worth approximately $24K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CRC returned +1037% versus MNR's +1.9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MNR or CRC?
By beta (market sensitivity over 5 years), Mach Natural Resources LP (MNR) is the lower-risk stock at 0.68β versus California Resources Corporation's 1.26β — meaning CRC is approximately 87% more volatile than MNR relative to the S&P 500. On balance sheet safety, California Resources Corporation (CRC) carries a lower debt/equity ratio of 35% versus 64% for Mach Natural Resources LP — giving it more financial flexibility in a downturn.
05Which has better profit margins — MNR or CRC?
Mach Natural Resources LP (MNR) is the more profitable company, earning 19.1% net margin versus 12.7% for California Resources Corporation — meaning it keeps 19.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MNR leads at 30.0% versus 22.0% for CRC. At the gross margin level — before operating expenses — CRC leads at 40.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is MNR or CRC more undervalued right now?
On forward earnings alone, Mach Natural Resources LP (MNR) trades at 12.9x forward P/E versus 45.3x for California Resources Corporation — 32.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MNR: 45.9% to $19.00.
07Which pays a better dividend — MNR or CRC?
All stocks in this comparison pay dividends. Mach Natural Resources LP (MNR) offers the highest yield at 24.4%, versus 2.4% for California Resources Corporation (CRC).
08Is MNR or CRC better for a retirement portfolio?
For long-horizon retirement investors, California Resources Corporation (CRC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.26), 2.4% yield, +1037% 10Y return). Both have compounded well over 10 years (CRC: +1037%, MNR: +1.9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between MNR and CRC?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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