Civitas Resources, Inc. (CIVI) 10-Year Financial Performance & Capital Metrics

CIVI • • Industrial / General

EnergyOil & Gas E&PUnconventional Shale E&POther Shale Play Operators

AboutCivitas Resources, Inc., an exploration and production company, focuses on the acquisition, development, and production of oil and natural gas in the Rocky Mountain region, primarily in the Wattenberg Field of the Denver-Julesburg Basin of Colorado. As of December 31,2021, it had proved reserves 397.7 MMBoe comprising 143.6 MMbbls of crude oil, 106.0 MMbbls of natural gas liquids, and 888.5 Bcf of natural gas. The company was formerly known as Bonanza Creek Energy, Inc. Civitas Resources, Inc. was founded in 1999 and is based in Denver, Colorado.Show more

Revenue $5.2B +49.8%
EBITDA $3.57B +48.9%
Net Income $839M +6.9%
EPS (Diluted) 8.46 -6.2%
Gross Margin 41.18% -14.1%
EBITDA Margin 68.57% -0.5%
Operating Margin 29.04% -17.6%
Net Margin 16.12% -28.6%
ROE 13.09% -3.5%
ROIC 10.76% -11.7%
Debt/Equity 0.68 -15.5%
Interest Coverage 3.31 -50.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 65.7%
✓FCF machine: 17.2% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 75.4%
✓Good 3Y average ROE of 17.2%
✓Healthy 5Y average net margin of 27.7%

✗Weaknesses

✗Shares diluted 14.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y25%

5Y75.42%

3Y77.48%

TTM-6.58%

Profit (Net Income) CAGR

10Y45.09%

5Y65.74%

3Y67.36%

TTM-35.59%

EPS CAGR

10Y-17.21%

5Y21.16%

3Y21.3%

TTM-31.78%

ROCE

10Y Avg0.03%

5Y Avg16.28%

3Y Avg19.2%

Latest12.09%

Peer Comparison

Other Shale Play Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MGYMagnolia Oil & Gas Corporation	4.12B	22.49	11.59	7.25%	25.9%	17.05%	10.48%	0.21
KGEIKolibri Global Energy Inc.	126.93M	3.59	7.04	15.84%	24.74%	8.88%	6.02%	0.18
REPXRiley Exploration Permian, Inc.	616.01M	28.04	6.58	9.37%	21.73%	15.25%	18.89%	0.54
MNRMach Natural Resources LP	1.85B	11.01	5.79	27.2%	28.51%	14.85%	15.37%	0.64
CHRDChord Energy Corporation	5.23B	91.94	5.74	34.76%	3.31%	2.11%	17.56%	0.12
CIVICivitas Resources, Inc.	2.27B	26.55	3.14	49.76%	13.56%	9.55%	39.44%	0.68
REIRing Energy, Inc.	201.01M	0.97	2.85	1.46%	-5.01%	-1.91%	18.95%	0.45
PEDPEDEVCO Corp.	51.29M	0.54	2.69	28.49%	28.75%	8.29%	24.56%	0.00

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	292.68M	195.29M	195.29M	276.66M	313.22M	218.09M	930.61M	3.79B	3.47B	5.2B
Revenue Growth %	-0.48%	-0.33%	0%	0.42%	0.13%	-0.3%	3.27%	3.07%	-0.08%	0.5%
Cost of Goods Sold+	339.96M	183.02M	47.52M	116.23M	79.54M	57.62M	361.25M	1.31B	1.81B	3.06B
COGS % of Revenue	1.16%	0.94%	0.24%	0.42%	0.25%	0.26%	0.39%	0.34%	0.52%	0.59%
Gross Profit+	-47.28M	12.28M	147.78M	160.43M	233.68M	160.47M	569.36M	2.48B	1.67B	2.14B
Gross Margin %	-0.16%	0.06%	0.76%	0.58%	0.75%	0.74%	0.61%	0.66%	0.48%	0.41%
Gross Profit Growth %	-1.12%	1.26%	11.03%	0.09%	0.46%	-0.31%	2.55%	3.36%	-0.33%	0.29%
Operating Expenses+	86.15M	85.7M	77.06M	42.77M	40.47M	36.35M	146.48M	455.04M	441.81M	631.61M
OpEx % of Revenue	0.29%	0.44%	0.39%	0.15%	0.13%	0.17%	0.16%	0.12%	0.13%	0.12%
Selling, General & Admin	70.32M	77.06M	77.06M	42.45M	40.47M	36.35M	65.13M	143.48M	161.08M	226.97M
SG&A % of Revenue	0.24%	0.39%	0.39%	0.15%	0.13%	0.17%	0.07%	0.04%	0.05%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-2.5M	-2.55M	0	0	0	0	81.35M	311.56M	280.73M	404.64M
Operating Income+	-853.39M	-136.89M	-129.11M	115.06M	193.21M	124.12M	422.88M	2.03B	1.22B	1.51B
Operating Margin %	-2.92%	-0.7%	-0.66%	0.42%	0.62%	0.57%	0.45%	0.54%	0.35%	0.29%
Operating Income Growth %	-16.96%	0.84%	0.06%	1.89%	0.68%	-0.36%	2.41%	3.79%	-0.4%	0.23%
EBITDA+	-608.47M	-113K	-76.73M	162.22M	280.87M	252.7M	649.81M	2.84B	2.4B	3.57B
EBITDA Margin %	-2.08%	-0%	-0.39%	0.59%	0.9%	1.16%	0.7%	0.75%	0.69%	0.69%
EBITDA Growth %	-4.36%	1%	-678%	3.11%	0.73%	-0.1%	1.57%	3.38%	-0.16%	0.49%
D&A (Non-Cash Add-back)	244.92M	136.78M	52.38M	47.15M	87.65M	128.59M	226.93M	816.45M	1.17B	2.06B
EBIT	-853.39M	-136.89M	3.69M	170.79M	68.41M	48.99M	261.48M	1.69B	1.17B	1.54B
Net Interest Income+	-57.05M	-62.06M	-6.43M	-2.6M	-2.65M	-2.04M	-9.7M	-32.2M	-182.74M	-456.3M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	57.05M	62.06M	6.43M	2.6M	2.65M	2.04M	9.7M	32.2M	182.74M	456.3M
Other Income/Expense	-777.02M	-69.84M	126.37M	8.62M	-126.15M	-81.14M	-171.1M	-372.92M	-224.35M	-428.13M
Pretax Income+	-910.44M	-198.95M	-198.95M	168.19M	67.07M	42.98M	251.78M	1.65B	999.45M	1.08B
Pretax Margin %	-3.11%	-1.02%	-1.02%	0.61%	0.21%	0.2%	0.27%	0.44%	0.29%	0.21%
Income Tax+	-164.89M	62.06M	-376K	2.6M	0	-60.55M	72.86M	405.7M	215.17M	243.97M
Effective Tax Rate %	0.82%	1%	1%	1%	1%	2.41%	0.71%	0.75%	0.78%	0.77%
Net Income+	-745.55M	-198.95M	-198.95M	168.19M	67.07M	103.53M	178.92M	1.25B	784.29M	838.72M
Net Margin %	-2.55%	-1.02%	-1.02%	0.61%	0.21%	0.47%	0.19%	0.33%	0.23%	0.16%
Net Income Growth %	-37.76%	0.73%	0%	1.85%	-0.6%	0.54%	0.73%	5.98%	-0.37%	0.07%
Net Income (Continuing)	-745.55M	-198.95M	-2.36M	168.19M	67.07M	103.53M	178.92M	1.25B	784.29M	838.72M
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)+	-1737.78	-450.61	-9.72	8.16	3.24	4.95	4.74	14.58	9.02	8.46
EPS Growth %	-32.09%	0.74%	0.98%	1.84%	-0.6%	0.53%	-0.04%	2.08%	-0.38%	-0.06%
EPS (Basic)	-1737.78	-450.82	-6.67	8.20	3.25	4.98	4.82	14.68	9.09	8.48
Diluted Shares Outstanding	429.02K	441.51K	20.46M	20.6M	20.68M	20.91M	37.75M	85.6M	86.99M	99.18M
Basic Shares Outstanding	429.02K	441.31K	20.45M	20.51M	20.61M	20.77M	37.16M	85M	86.24M	98.86M
Dividend Payout Ratio	-	-	-	-	-	-	0.34%	0.43%	0.84%	0.59%

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+	120.07M	112.43M	53.15M	134.81M	110.52M	92.41M	719.94M	1.33B	2.14B	988.32M
Cash & Short-Term Investments	21.34M	80.56M	12.71M	12.92M	11.01M	24.74M	254.45M	768.03M	1.12B	75.83M
Cash Only	21.34M	80.56M	12.71M	12.92M	11.01M	24.74M	254.45M	768.03M	1.12B	75.83M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	25.32M	21.26M	32.38M	79.38M	81.85M	47.42M	428.65M	479.32M	753.19M	771.34M
Days Sales Outstanding	31.58	39.74	60.52	104.72	95.38	79.36	168.12	46.19	79.14	54.12
Inventory	8.54M	4.68M	1.02M	3.48M	7.73M	9.19M	12.39M	0	9.4M	0
Days Inventory Outstanding	9.17	9.34	7.83	10.92	35.45	58.18	12.51	-	1.9	-
Other Current Assets	60.79M	0	488K	34.41M	2.88M	7.48M	24.45M	51.48M	247.47M	141.16M
Total Non-Current Assets+	1.14B	1.02B	777.22M	926.72M	1.1B	1.09B	6.02B	6.64B	11.95B	13.96B
Property, Plant & Equipment	922.34M	1.02B	774.08M	917.97M	1.09B	1.03B	5.98B	6.64B	11.91B	13.89B
Fixed Asset Turnover	0.32x	0.19x	0.25x	0.30x	0.29x	0.21x	0.16x	0.57x	0.29x	0.37x
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	2.85M	2.76M	6.66M	0	0	0	0	0	0
Other Non-Current Assets	217.22M	227K	376K	2.09M	3.67M	2.87M	14.09M	7.74M	38.09M	67.82M
Total Assets+	1.26B	1.13B	830.37M	1.06B	1.21B	1.18B	6.74B	7.97B	14.1B	14.94B
Asset Turnover	0.23x	0.17x	0.24x	0.26x	0.26x	0.18x	0.14x	0.48x	0.25x	0.35x
Asset Growth %	-0.37%	-0.1%	-0.27%	0.28%	0.14%	-0.02%	4.7%	0.18%	0.77%	0.06%
Total Current Liabilities+	135.97M	1.07B	89.22M	99.48M	104.74M	74.48M	1.12B	1.18B	1.85B	2.21B
Accounts Payable	1.08M	24.91M	21.92M	31.43M	46.14M	20.54M	485.86M	570.13M	821.87M	737.57M
Days Payables Outstanding	1.16	49.69	168.4	98.72	211.71	130.13	490.89	159.36	165.9	87.98
Short-Term Debt	0	985.37M	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	1000K	1000K	0	0	0	0	1000K	0
Other Current Liabilities	39.77M	39.67M	27.9M	20.09M	6.39M	6.4M	270.4M	84.41M	50.79M	619.1M
Current Ratio	0.88x	0.11x	0.60x	1.36x	1.06x	1.24x	0.64x	1.13x	1.16x	0.45x
Quick Ratio	0.82x	0.10x	0.58x	1.32x	0.98x	1.12x	0.63x	1.13x	1.15x	0.45x
Cash Conversion Cycle	39.59	-0.6	-100.05	16.93	-80.88	7.42	-310.25	-	-84.87	-
Total Non-Current Liabilities+	914.26M	44.95M	52.82M	98.14M	164.89M	63.08M	966.53M	1.42B	6.06B	6.11B
Long-Term Debt	871.67M	0	0	50M	80M	0	491.71M	393.29M	4.79B	4.49B
Capital Lease Obligations	0	0	0	0	27.54M	17.98M	21.4M	11.32M	50.24M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	319.62M	564.78M	800.55M
Other Non-Current Liabilities	42.59M	44.95M	52.82M	48.15M	57.35M	45.1M	453.42M	695.32M	619.47M	816.2M
Total Liabilities	1.05B	1.12B	142.04M	197.62M	269.63M	137.56M	2.09B	2.6B	7.92B	8.32B
Total Debt+	871.67M	988.26M	5M	52.18M	121.42M	31.82M	551.06M	436.19M	4.96B	4.49B
Net Debt	850.33M	907.7M	-7.71M	39.27M	110.41M	7.07M	296.6M	-331.84M	3.84B	4.42B
Debt / Equity	4.16x	51.85x	0.01x	0.06x	0.13x	0.03x	0.12x	0.08x	0.80x	0.68x
Debt / EBITDA	-	-	-	0.32x	0.43x	0.13x	0.85x	0.15x	2.07x	1.26x
Net Debt / EBITDA	-	-	-	0.24x	0.39x	0.03x	0.46x	-0.12x	1.60x	1.24x
Interest Coverage	-14.96x	-2.21x	-20.08x	44.20x	72.91x	60.69x	43.60x	62.94x	6.70x	3.31x
Total Equity+	209.41M	19.06M	688.33M	863.91M	936.69M	1.05B	4.65B	5.37B	6.18B	6.63B
Equity Growth %	-0.72%	-0.91%	35.11%	0.26%	0.08%	0.12%	3.45%	0.15%	0.15%	0.07%
Book Value per Share	488.10	43.17	33.64	41.93	45.29	49.98	123.32	62.78	71.06	66.84
Total Shareholders' Equity	209.41M	19.06M	688.33M	863.91M	936.69M	1.05B	4.65B	5.37B	6.18B	6.63B
Common Stock	49K	49K	4.29M	4.29M	4.28M	4.28M	4.91M	4.92M	5M	5.01M
Retained Earnings	-597.03M	-795.98M	-5.02M	163.17M	230.23M	333.76M	450.98M	1.16B	1.21B	1.53B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	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+	226.02M	14.56M	7.69M	116.6M	224.65M	158.8M	274.6M	2.48B	2.24B	2.87B
Operating CF Margin %	0.77%	0.07%	0.04%	0.42%	0.72%	0.73%	0.3%	0.65%	0.64%	0.55%
Operating CF Growth %	-0.34%	-0.94%	-0.47%	14.16%	0.93%	-0.29%	0.73%	8.02%	-0.1%	0.28%
Net Income	-745.55M	-198.95M	-2.36M	168.19M	67.07M	103.53M	178.92M	1.25B	784.29M	838.72M
Depreciation & Amortization	244.92M	111.22M	52.38M	41.88M	88.14M	91.24M	226.93M	816.45M	1.17B	2.06B
Stock-Based Compensation	14.55M	8.89M	13.75M	7.16M	6.89M	6.16M	15.56M	31.37M	34.93M	48.27M
Deferred Taxes	-165.67M	50.32M	-28.06M	-41.88M	0	-60.52M	72.86M	337.5M	245.16M	235.77M
Other Non-Cash Items	857.75M	21.26M	115.88M	-33.92M	70.38M	31.37M	-162.96M	-232.5M	-68.75M	25.3M
Working Capital Changes	20.02M	21.83M	-27.98M	-24.82M	-7.83M	-12.98M	-56.71M	276.14M	71.93M	-339.26M
Change in Receivables	35.23M	35.28M	-11.12M	-46.99M	-2.69M	24.95M	-100.88M	-941K	-39.87M	-23.04M
Change in Inventory	23.66M	4.39M	4.39M	248K	0	0	0	0	0	0
Change in Payables	-23.66M	-11.62M	-14.35M	19.95M	0	0	0	311.11M	91.81M	-298.58M
Cash from Investing+	-452.57M	-67.46M	-88.55M	-164.38M	-255.16M	-63.8M	73.55M	-1.31B	-5.24B	-2.67B
Capital Expenditures	-445.11M	-52.79M	-88.65M	-267.51M	-256.92M	-63.8M	-151.5M	-97.45M	-154.85M	-1.97B
CapEx % of Revenue	1.52%	0.27%	0.45%	0.97%	0.82%	0.29%	0.16%	0.03%	0.04%	0.38%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-9.01M	-14.67M	-67.06M	103.13M	1.76M	0	2.6M	-972.48M	-1.27B	205.08M
Cash from Financing+	245.31M	112.06M	13.01M	48M	28.6M	-81.25M	-118.44M	-657.37M	3.36B	-1.24B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-60.78M	-536.92M	-660.32M	-493.84M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-10M	-605K	-2.83M	-1.14M	-220K	-1.15M	-23.63M	-20.45M	-59.96M	-23.19M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-219.09M	-38.23M	-80.96M	-150.91M	-32.27M	95M	123.1M	1.41B	731.52M	893.36M
FCF Margin %	-0.75%	-0.2%	-0.41%	-0.55%	-0.1%	0.44%	0.13%	0.37%	0.21%	0.17%
FCF Growth %	0.55%	0.83%	-1.12%	-0.86%	0.79%	3.94%	0.3%	10.47%	-0.48%	0.22%
FCF per Share	-510.66	-86.58	-3.96	-7.32	-1.56	4.54	3.26	16.50	8.41	9.01
FCF Conversion (FCF/Net Income)	-0.30x	-0.07x	-0.04x	0.69x	3.35x	1.53x	1.53x	1.98x	2.85x	3.42x
Interest Paid	0	0	0	0	4.11M	1.55M	1.83M	28.53M	37.11M	0
Taxes Paid	0	0	0	0	0	0	14M	97.8M	50.05M	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-157.04%	-174.16%	-56.25%	21.67%	7.45%	10.45%	6.28%	24.89%	13.57%	13.09%
Return on Invested Capital (ROIC)	-48.53%	-10.34%	-12.05%	10.9%	14.86%	8.87%	10.56%	30.42%	12.19%	10.76%
Gross Margin	-16.15%	6.29%	75.67%	57.99%	74.6%	73.58%	61.18%	65.52%	47.95%	41.18%
Net Margin	-254.73%	-101.87%	-101.87%	60.79%	21.41%	47.47%	19.23%	32.95%	22.58%	16.12%
Debt / Equity	4.16x	51.85x	0.01x	0.06x	0.13x	0.03x	0.12x	0.08x	0.80x	0.68x
Interest Coverage	-14.96x	-2.21x	-20.08x	44.20x	72.91x	60.69x	43.60x	62.94x	6.70x	3.31x
FCF Conversion	-0.30x	-0.07x	-0.04x	0.69x	3.35x	1.53x	1.53x	1.98x	2.85x	3.42x
Revenue Growth	-47.61%	-33.27%	0%	41.66%	13.22%	-30.37%	326.71%	307%	-8.28%	49.76%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Crude Oil	-	-	-	-	2.78B	4.37B
Crude Oil Growth	-	-	-	-	-	57.28%
Natural Gas	28.3M	24.24M	144.71M	695.08M	309.72M	168.39M
Natural Gas Growth	-	-14.32%	496.91%	380.33%	-55.44%	-45.63%
Natural Gas Liquids	-	-	171.09M	560.18M	392.83M	-
Natural Gas Liquids Growth	-	-	-	227.41%	-29.88%	-
Oil	268.87M	174.54M	614.81M	2.54B	-	-
Oil Growth	-	-35.08%	252.25%	312.51%	-	-
NGL	16.06M	19.31M	-	-	-	-
NGL Growth	-	20.25%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Civitas Resources, Inc. (CIVI) has a price-to-earnings (P/E) ratio of 3.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Civitas Resources, Inc. (CIVI) reported $4.71B in revenue for fiscal year 2024. This represents a 7249% increase from $64.0M in 2011.

Civitas Resources, Inc. (CIVI) grew revenue by 49.8% over the past year. This is strong growth.

Yes, Civitas Resources, Inc. (CIVI) is profitable, generating $638.1M in net income for fiscal year 2024 (16.1% net margin).

Dividend & Returns

Yes, Civitas Resources, Inc. (CIVI) pays a dividend with a yield of 18.75%. This makes it attractive for income-focused investors.

Civitas Resources, Inc. (CIVI) has a return on equity (ROE) of 13.1%. This is reasonable for most industries.

Civitas Resources, Inc. (CIVI) generated $933.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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