Berry Corporation (BRY) 10-Year Financial Performance & Capital Metrics

BRY • • Industrial / General

EnergyOil & Gas E&PConventional Onshore E&PRegional Conventional Specialists

AboutBerry Corporation, an independent upstream energy company, engages in the development and production of conventional oil reserves located in the western United States. It operates in two segments, Development and Production, and Well Servicing and Abandonment. The company's properties are located in the San Joaquin and Ventura basins, California; and Uinta basin, Utah. As of December 31, 2021, it had a total of 3,417 net productive wells. The company was formerly known as Berry Petroleum Corporation and changed its name to Berry Corporation in February 2020. Berry Corporation was founded in 1909 and is headquartered in Dallas, Texas.Show more

Revenue $784M -9.2%
EBITDA $325M +34.8%
Net Income $19M -48.5%
EPS (Diluted) 0.25 -47.9%
Gross Margin 36.41% +32.5%
EBITDA Margin 41.49% +48.4%
Operating Margin 19.55% +108.9%
Net Margin 2.46% -43.3%
ROE 2.59% -46.1%
ROIC 9.82% +89.7%
Debt/Equity 0.60 +3.5%
Interest Coverage 3.92 +72.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.3x book value

✗Weaknesses

✗Profits declining 15.1% over 5 years
✗Dividend payout exceeds 100% of earnings
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-5.13%

5Y5.58%

3Y3.78%

TTM-16.39%

Profit (Net Income) CAGR

10Y-1.59%

5Y-15.06%

3Y-

TTM-208.73%

EPS CAGR

10Y-

5Y-13.95%

3Y-

TTM-209.53%

ROCE

10Y Avg8.64%

5Y Avg12.38%

3Y Avg12.91%

Latest11.35%

Peer Comparison

Regional Conventional Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TXOTXO Partners, L.P.	590.57M	10.78	16.58	-25.72%	4.62%	2.29%		0.26
BRYBerry Corporation	253M	3.26	13.04	-9.22%	-13.36%	-14.22%	42.64%	0.60
CRCCalifornia Resources Corporation	4.22B	47.21	10.22	5.12%	10.88%	11.15%	8.3%	0.35
SDSandRidge Energy, Inc.	537.26M	14.61	8.65	-15.71%	42.42%	13.43%	8.85%
PNRGPrimeEnergy Resources Corporation	280.08M	171.30	7.80	89.96%	12.85%	11.79%		0.04
TPETTrio Petroleum Corp.	10.02M	0.83	-0.19		-20.63%	-54.86%		0.10
BRNBarnwell Industries, Inc.	14.42M	1.15	-1.62	-100%	-42.31%	-76.43%		0.01

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	604.23M	426.77M	466.4M	591.18M	597.4M	406.05M	701.35M	1.06B	863.45M	783.84M
Revenue Growth %	-0.54%	-0.29%	0.09%	0.27%	0.01%	-0.32%	0.73%	0.5%	-0.18%	-0.09%
Cost of Goods Sold+	310.93M	380.41M	320.96M	295.67M	245.92M	342.14M	432.03M	623.83M	626.12M	498.42M
COGS % of Revenue	0.51%	0.89%	0.69%	0.5%	0.41%	0.84%	0.62%	0.59%	0.73%	0.64%
Gross Profit+	293.3M	46.36M	145.44M	295.51M	351.49M	63.92M	269.32M	431.62M	237.34M	285.43M
Gross Margin %	0.49%	0.11%	0.31%	0.5%	0.59%	0.16%	0.38%	0.41%	0.27%	0.36%
Gross Profit Growth %	-0.68%	-0.84%	2.14%	1.03%	0.19%	-0.82%	3.21%	0.6%	-0.45%	0.2%
Operating Expenses+	1.22B	149.07M	103.4M	99.14M	62.64M	63.92M	133.41M	144.52M	156.54M	132.22M
OpEx % of Revenue	2.02%	0.35%	0.22%	0.17%	0.1%	0.16%	0.19%	0.14%	0.18%	0.17%
Selling, General & Admin	85.99M	123.95M	63.97M	66.03M	62.64M	79.08M	76.92M	96.74M	95.87M	84.72M
SG&A % of Revenue	0.14%	0.29%	0.14%	0.11%	0.1%	0.19%	0.11%	0.09%	0.11%	0.11%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-182K	39.42M	243K	0	-15.16M	56.5M	47.78M	60.67M	47.5M
Operating Income+	-85.48M	-102.71M	42.05M	196.37M	288.84M	0	135.9M	287.11M	80.79M	153.21M
Operating Margin %	-0.14%	-0.24%	0.09%	0.33%	0.48%	-	0.19%	0.27%	0.09%	0.2%
Operating Income Growth %	-1.18%	-0.2%	1.41%	3.67%	0.47%	-1%	-	1.11%	-0.72%	0.9%
EBITDA+	165.89M	1.11B	138.67M	282.64M	394.85M	-96.64M	280.4M	443.95M	241.33M	325.21M
EBITDA Margin %	0.27%	2.59%	0.3%	0.48%	0.66%	-0.24%	0.4%	0.42%	0.28%	0.41%
EBITDA Growth %	-0.79%	5.67%	-0.87%	1.04%	0.4%	-1.24%	3.9%	0.58%	-0.46%	0.35%
D&A (Non-Cash Add-back)	251.37M	1.21B	96.63M	86.27M	106.01M	139.18M	144.5M	156.85M	160.54M	172M
EBIT	-85.48M	-1.22B	-11.97M	196.85M	92.65M	-235.82M	17.84M	238.65M	90.84M	67.11M
Net Interest Income+	0	-61.27M	0	-35.65M	-34.23M	-34.3M	-31.96M	-30.92M	-35.41M	-39.03M
Interest Income	88.82M	0	26.7M	0	0	0	0	0	0	-
Interest Expense	0	61.27M	0	35.65M	34.23M	34.3M	31.96M	30.92M	35.41M	39.03M
Other Income/Expense	-929.76M	-1.18B	-563.04M	-8.98M	-208.75M	-270.11M	-150.03M	-79.37M	-25.37M	-125.13M
Pretax Income+	-1.02B	-1.28B	-521M	190.14M	80.09M	-270.11M	-14.13M	207.73M	55.42M	28.08M
Pretax Margin %	-1.68%	-3.01%	-1.12%	0.32%	0.13%	-0.67%	-0.02%	0.2%	0.06%	0.04%
Income Tax+	-68K	116K	3.03M	43.03M	36.55M	-7.22M	1.41M	-42.44M	18.02M	8.83M
Effective Tax Rate %	1%	1%	1.01%	0.77%	0.54%	0.97%	1.1%	1.2%	0.67%	0.69%
Net Income+	-1.02B	-1.28B	-524.03M	147.1M	43.54M	-262.89M	-15.54M	250.17M	37.4M	19.25M
Net Margin %	-1.68%	-3.01%	-1.12%	0.25%	0.07%	-0.65%	-0.02%	0.24%	0.04%	0.02%
Net Income Growth %	-45.93%	-0.26%	0.59%	1.28%	-0.7%	-7.04%	0.94%	17.1%	-0.85%	-0.49%
Net Income (Continuing)	-1.02B	-1.28B	-524.03M	147.1M	43.54M	-262.89M	-15.54M	250.17M	37.4M	19.25M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.00	-15.78	-15.92	2.54	0.53	-3.29	-0.19	3.03	0.48	0.25
EPS Growth %	-	-	-0.01%	1.16%	-0.79%	-7.21%	0.94%	16.95%	-0.84%	-0.48%
EPS (Basic)	0.00	-15.78	-15.92	2.55	0.54	-3.29	-0.19	3.19	0.49	0.25
Diluted Shares Outstanding	0	81.34M	32.92M	57.93M	81.95M	79.8M	80.21M	82.59M	77.58M	77.21M
Basic Shares Outstanding	0	81.34M	32.92M	57.74M	81.38M	79.8M	80.21M	78.52M	76.04M	76.94M
Dividend Payout Ratio	-	-	-	0.05%	0.9%	-	-	0.44%	2.09%	2.55%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	81.19M	98M	137.52M	229.02M	100.43M	154.49M	147.5M	218.06M	140.8M	149.64M
Cash & Short-Term Investments	1.02M	30.48M	33.91M	68.68M	0	80.56M	15.28M	46.25M	4.83M	15.34M
Cash Only	1.02M	30.48M	33.91M	68.68M	0	80.56M	15.28M	46.25M	4.83M	15.34M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	46.05M	51.17M	54.72M	57.38M	71.87M	52.03M	86.27M	101.71M	86.92M	77.63M
Days Sales Outstanding	27.82	43.77	42.82	35.43	43.91	46.77	44.9	35.17	36.74	36.15
Inventory	10.52M	6.39M	5.94M	9.47M	13.98M	15.16M	12.47M	13.01M	21.12M	16.34M
Days Inventory Outstanding	12.35	6.13	6.75	11.69	20.74	16.17	10.53	7.61	12.31	11.97
Other Current Assets	21.69M	5.81M	36.06M	89.06M	10.01M	3.16M	225K	37.48M	6.59M	28.15M
Total Non-Current Assets+	3.78B	2.55B	1.41B	1.46B	1.59B	1.27B	1.31B	1.41B	1.45B	1.37B
Property, Plant & Equipment	3.51B	2.34B	1.39B	1.44B	1.58B	1.26B	1.3B	1.36B	1.41B	1.32B
Fixed Asset Turnover	0.17x	0.18x	0.34x	0.41x	0.38x	0.32x	0.54x	0.78x	0.61x	0.59x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	3.29M	0	0	0	0	0	11.7M
Other Non-Current Assets	266.42M	213.9M	21.69M	-25.3M	13.5M	7.24M	7.63M	10.32M	16.44M	9.19M
Total Assets+	3.86B	2.65B	1.55B	1.69B	1.69B	1.42B	1.46B	1.63B	1.59B	1.52B
Asset Turnover	0.16x	0.16x	0.30x	0.35x	0.35x	0.29x	0.48x	0.65x	0.54x	0.52x
Asset Growth %	-0.22%	-0.31%	-0.42%	0.09%	-0%	-0.16%	0.03%	0.12%	-0.02%	-0.05%
Total Current Liabilities+	1.02B	969.15M	182.66M	144.12M	156.63M	175.31M	187.15M	234.21M	223.18M	187.88M
Accounts Payable	116.75M	2.46M	11.92M	13.56M	13.99M	11.05M	17.7M	40.29M	31.18M	18.99M
Days Payables Outstanding	137.05	2.36	13.55	16.74	20.76	11.79	14.95	23.57	18.18	13.91
Short-Term Debt	873.17M	891.26M	0	0	0	0	0	0	0	45M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	2.24M	16.08M	98.6M	16.68M	30.02M	48.32M	49.63M	51.11M	86.72M	141K
Current Ratio	0.08x	0.10x	0.75x	1.59x	0.64x	0.88x	0.79x	0.93x	0.63x	0.80x
Quick Ratio	0.07x	0.09x	0.72x	1.52x	0.55x	0.79x	0.72x	0.88x	0.54x	0.71x
Cash Conversion Cycle	-96.88	47.54	36.02	30.38	43.89	51.14	40.48	19.22	30.87	34.21
Total Non-Current Liabilities+	1.06B	1.18B	504.43M	541.7M	561.12M	530.47M	576.68M	596.34M	613M	599.17M
Long-Term Debt	845.37M	833.8M	379M	391.79M	394.32M	393.48M	394.57M	395.74M	427.99M	384.63M
Capital Lease Obligations	0	0	-119.84M	0	0	0	0	0	5.13M	3.51M
Deferred Tax Liabilities	0	0	1.89M	45.84M	9.06M	1.01M	1.83M	0	0	1.61M
Other Non-Current Liabilities	212.05M	346.13M	3.7M	104.08M	157.75M	135.98M	180.28M	200.6M	179.88M	209.42M
Total Liabilities	2.08B	2.15B	687.09M	685.82M	717.75M	705.77M	763.83M	830.54M	836.18M	787.05M
Total Debt+	1.72B	1.73B	379M	391.79M	394.32M	393.48M	394.57M	397.4M	436.06M	435.18M
Net Debt	1.72B	1.69B	345.1M	323.11M	394.32M	312.92M	379.28M	351.15M	431.23M	419.84M
Debt / Equity	0.96x	3.43x	0.44x	0.39x	0.41x	0.55x	0.57x	0.50x	0.58x	0.60x
Debt / EBITDA	10.36x	1.56x	2.73x	1.39x	1.00x	-	1.41x	0.90x	1.81x	1.34x
Net Debt / EBITDA	10.35x	1.53x	2.49x	1.14x	1.00x	-	1.35x	0.79x	1.79x	1.29x
Interest Coverage	-	-1.68x	-	5.51x	8.44x	-	4.25x	9.29x	2.28x	3.92x
Total Equity+	1.79B	502.96M	859.31M	1.01B	972.45M	714.04M	692.65M	800.49M	757.98M	730.64M
Equity Growth %	-0.26%	-0.72%	0.71%	0.17%	-0.03%	-0.27%	-0.03%	0.16%	-0.05%	-0.04%
Book Value per Share	-	6.18	26.10	17.37	11.87	8.95	8.64	9.69	9.77	9.46
Total Shareholders' Equity	1.79B	502.96M	859.31M	1.01B	972.45M	714.04M	692.65M	800.49M	757.98M	730.64M
Common Stock	0	0	33K	82K	85K	85K	86K	86K	88K	89K
Retained Earnings	-1.01B	-2.3B	-21.07M	116.04M	120.53M	-151.93M	-167.47M	82.69M	52.5M	56.36M
Treasury Stock	0	0	0	-24.22M	-49.99M	-49.99M	-52.44M	-103.74M	-113.77M	-113.77M
Accumulated OCI	0	0	-335M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	122.52M	13.2M	129.83M	103.1M	241.83M	196.53M	122.49M	360.94M	198.66M	210.22M
Operating CF Margin %	0.2%	0.03%	0.28%	0.17%	0.4%	0.48%	0.17%	0.34%	0.23%	0.27%
Operating CF Growth %	-0.79%	-0.89%	8.84%	-0.21%	1.35%	-0.19%	-0.38%	1.95%	-0.45%	0.06%
Net Income	-1.02B	-1.28B	-524.03M	147.1M	43.54M	-262.89M	-15.54M	250.17M	37.4M	19.25M
Depreciation & Amortization	251.37M	1.21B	96.63M	86.27M	106.01M	144.53M	169.33M	159.44M	160.54M	172M
Stock-Based Compensation	0	0	1.85M	6.75M	8.65M	14.63M	13.78M	16.97M	14.36M	6.99M
Deferred Taxes	0	-11K	1.9M	43.95M	-36.78M	0	819K	0	15.81M	2.8M
Other Non-Cash Items	815.27M	1.28B	726.24M	-190.03M	148.96M	298.61M	3.94M	-49.02M	-3.47M	46.48M
Working Capital Changes	71.06M	12.57M	13.58M	9.06M	-28.55M	1.65M	-49.85M	-16.62M	-25.99M	-37.31M
Change in Receivables	59.94M	-6.56M	-16.17M	-1.68M	-14.6M	18.77M	-15.61M	-15.41M	30.2M	9.34M
Change in Inventory	0	0	0	0	0	0	-4.04M	0	0	0
Change in Payables	0	22.1M	24.95M	19.53M	0	0	4.04M	0	-39.12M	-50.69M
Cash from Investing+	101.37M	-34.6M	-83.66M	-119.07M	-225.03M	-93.62M	-168.79M	-164.55M	-175.27M	-105.56M
Capital Expenditures	-50.37M	-34.8M	-317.98M	-127.28M	-2.84M	-82.46M	-133.11M	-152.92M	-73.13M	-103.39M
CapEx % of Revenue	0.08%	0.08%	0.68%	0.22%	0%	0.2%	0.19%	0.14%	0.08%	0.13%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	151.74M	194K	229.59M	8.21M	-222.19M	-11.16M	869K	14.29M	-7.94M	-2.17M
Cash from Financing+	-224.45M	-1.7M	-205.84M	15.91M	-85.48M	-22.35M	-18.98M	-165.42M	-64.8M	-79.46M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-18.67M	-39.16M	-19.46M	-11.49M	-109.45M	-78.19M	-49.03M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	130.97M	0	312.83M	-12.89M	-1.27M	-1	-5.05M	-528K	-7.58M	-26.34M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	72.14M	-21.6M	-188.15M	-24.18M	15.84M	114.07M	-10.63M	208.02M	117.59M	107.87M
FCF Margin %	0.12%	-0.05%	-0.4%	-0.04%	0.03%	0.28%	-0.02%	0.2%	0.14%	0.14%
FCF Growth %	0.21%	-1.3%	-7.71%	0.87%	1.65%	6.2%	-1.09%	20.58%	-0.43%	-0.08%
FCF per Share	-	-0.27	-5.72	-0.42	0.19	1.43	-0.13	2.52	1.52	1.40
FCF Conversion (FCF/Net Income)	-0.12x	-0.01x	-0.25x	0.70x	5.55x	-0.75x	-7.88x	1.44x	5.31x	10.92x
Interest Paid	0	0	0	0	0	29.96M	0	29.79M	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-48.28%	-112.11%	-76.93%	15.77%	4.4%	-31.18%	-2.21%	33.51%	4.8%	2.59%
Return on Invested Capital (ROIC)	-1.6%	-2.7%	1.85%	11.62%	16.07%	-	9.71%	19.37%	5.18%	9.82%
Gross Margin	48.54%	10.86%	31.18%	49.99%	58.84%	15.74%	38.4%	40.89%	27.49%	36.41%
Net Margin	-168.01%	-300.67%	-112.36%	24.88%	7.29%	-64.74%	-2.22%	23.7%	4.33%	2.46%
Debt / Equity	0.96x	3.43x	0.44x	0.39x	0.41x	0.55x	0.57x	0.50x	0.58x	0.60x
Interest Coverage	-	-1.68x	-	5.51x	8.44x	-	4.25x	9.29x	2.28x	3.92x
FCF Conversion	-0.12x	-0.01x	-0.25x	0.70x	5.55x	-0.75x	-7.88x	1.44x	5.31x	10.92x
Revenue Growth	-54.48%	-29.37%	9.29%	26.75%	1.05%	-32.03%	72.72%	50.49%	-18.19%	-9.22%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Oil	-	543.63M	362.98M	587.61M	806.63M	643.03M	635.02M
Oil Growth	-	-	-33.23%	61.89%	37.27%	-20.28%	-1.25%
Service, Other	-	-	-	35.84M	181.4M	178.55M	132.45M
Service, Other Growth	-	-	-	-	406.14%	-1.57%	-25.82%
Electricity	35.21M	29.4M	25.81M	35.64M	30.83M	15.28M	15.61M
Electricity Growth	-	-16.50%	-12.19%	38.05%	-13.48%	-50.45%	2.15%
Natural Gas, Midstream	-	19.39M	14.04M	32.68M	29.52M	22.29M	8.6M
Natural Gas, Midstream Growth	-	-	-27.59%	132.74%	-9.68%	-24.47%	-61.44%
Natural Gas Liquids	-	2.57M	1.65M	5.18M	6.3M	3.79M	-
Natural Gas Liquids Growth	-	-	-35.98%	214.88%	21.61%	-39.87%	-
Product and Service, Other	774K	-	150K	477K	479K	513K	-
Product and Service, Other Growth	-	-	-	218.00%	0.42%	7.10%	-
Advertising	2.32M	2.09M	1.43M	3.92M	289K	-	-
Advertising Growth	-	-9.82%	-31.90%	174.96%	-92.63%	-	-
Oil and Gas	552.87M	-	378.66M	-	-	-	-
Oil and Gas Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Berry Corporation (BRY) has a price-to-earnings (P/E) ratio of 13.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Berry Corporation (BRY) reported $680.2M in revenue for fiscal year 2024. This represents a 29% decrease from $961.0M in 2012.

Berry Corporation (BRY) saw revenue decline by 9.2% over the past year.

Berry Corporation (BRY) reported a net loss of $90.9M for fiscal year 2024.

Dividend & Returns

Yes, Berry Corporation (BRY) pays a dividend with a yield of 19.48%. This makes it attractive for income-focused investors.

Berry Corporation (BRY) has a return on equity (ROE) of 2.6%. This is below average, suggesting room for improvement.

Berry Corporation (BRY) generated $52.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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