California Resources Corporation (CRC) 10-Year Financial Performance & Capital Metrics

CRC • • Industrial / General

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

AboutCalifornia Resources Corporation operates as an independent oil and natural gas company. The company explores for, produces, gathers, processes, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities. As of December 31, 2021, it had interests in approximately 1.9 million net mineral acres with proved reserves totaled an estimated 480 million barrels of oil equivalent. The company also engages in the generation and sale of electricity to the local utility and the grid. The company was incorporated in 2014 and is based in Santa Clarita, California.Show more

Revenue $2.96B +5.1%
EBITDA $1.13B -3.3%
Net Income $376M -33.3%
EPS (Diluted) 4.62 -40.6%
Gross Margin 40.65% -13.8%
EBITDA Margin 38.08% -8.1%
Operating Margin 22.02% -30.7%
Net Margin 12.72% -36.6%
ROE 13.06% -52.7%
ROIC 14.53% -50.7%
Debt/Equity 0.35 +25.7%
Interest Coverage 7.48 -53.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 23.4%
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 2.9%
✓Healthy 5Y average net margin of 37.9%
✓Trading at only 1.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Shares diluted 12.3% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.39%

5Y1.89%

3Y4.85%

TTM33.85%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-14.99%

TTM-27.68%

EPS CAGR

10Y-

5Y-

3Y-14.42%

TTM-32.28%

ROCE

10Y Avg14.98%

5Y Avg23.68%

3Y Avg28.67%

Latest13.65%

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+	2.35B	1.75B	2.1B	3.06B	2.69B	1.61B	2.56B	3.26B	2.81B	2.96B
Revenue Growth %	-0.44%	-0.25%	0.2%	0.46%	-0.12%	-0.4%	0.59%	0.27%	-0.14%	0.05%
Cost of Goods Sold+	1.99B	1.38B	1.47B	1.48B	1.43B	1.21B	1.32B	1.52B	1.49B	1.75B
COGS % of Revenue	0.85%	0.79%	0.7%	0.48%	0.53%	0.75%	0.51%	0.47%	0.53%	0.59%
Gross Profit+	360M	371M	629M	1.59B	1.26B	403M	1.25B	1.74B	1.33B	1.2B
Gross Margin %	0.15%	0.21%	0.3%	0.52%	0.47%	0.25%	0.49%	0.53%	0.47%	0.41%
Gross Profit Growth %	-0.8%	0.03%	0.7%	1.52%	-0.21%	-0.68%	2.09%	0.39%	-0.24%	-0.09%
Operating Expenses+	534M	385M	385M	448M	411M	396M	345M	384M	432M	551M
OpEx % of Revenue	0.23%	0.22%	0.18%	0.15%	0.15%	0.25%	0.13%	0.12%	0.15%	0.19%
Selling, General & Admin	354M	271M	249M	299M	290M	252M	200M	222M	267M	321M
SG&A % of Revenue	0.15%	0.15%	0.12%	0.1%	0.11%	0.16%	0.08%	0.07%	0.09%	0.11%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	180M	114M	136M	149M	121M	144M	145M	162M	165M	230M
Operating Income+	-174M	-14M	73M	1.14B	851M	7M	902M	1.35B	894M	651M
Operating Margin %	-0.07%	-0.01%	0.03%	0.37%	0.32%	0%	0.35%	0.42%	0.32%	0.22%
Operating Income Growth %	-1.13%	0.92%	6.21%	14.62%	-0.25%	-0.99%	127.86%	0.5%	-0.34%	-0.27%
EBITDA+	839M	548M	644M	1.69B	1.36B	369M	1.17B	1.59B	1.17B	1.13B
EBITDA Margin %	0.36%	0.31%	0.31%	0.55%	0.51%	0.23%	0.45%	0.49%	0.41%	0.38%
EBITDA Growth %	-0.68%	-0.35%	0.18%	1.62%	-0.19%	-0.73%	2.16%	0.37%	-0.27%	-0.03%
D&A (Non-Cash Add-back)	1.01B	562M	571M	545M	514M	362M	263M	241M	271M	475M
EBIT	-5.15B	517M	81M	808M	483M	2.09B	283M	814M	804M	603M
Net Interest Income+	-326M	-328M	-343M	-379M	-383M	0	-54M	-30M	-16M	-61M
Interest Income	0	0	0	0	0	217M	0	23M	40M	26M
Interest Expense	326M	328M	343M	379M	383M	217M	54M	53M	56M	87M
Other Income/Expense	-5.3B	494M	-335M	0	-751M	1.86B	-673M	-593M	-146M	-135M
Pretax Income+	-5.48B	201M	-262M	429M	100M	1.87B	229M	761M	748M	516M
Pretax Margin %	-2.33%	0.11%	-0.13%	0.14%	0.04%	1.16%	0.09%	0.23%	0.27%	0.17%
Income Tax+	-1.92B	-78M	340M	101M	1M	0	-396M	237M	184M	140M
Effective Tax Rate %	0.65%	1.39%	1.02%	0.76%	-0.28%	1.01%	2.67%	0.69%	0.75%	0.73%
Net Income+	-3.55B	279M	-266M	328M	-28M	1.88B	612M	524M	564M	376M
Net Margin %	-1.51%	0.16%	-0.13%	0.11%	-0.01%	1.17%	0.24%	0.16%	0.2%	0.13%
Net Income Growth %	-1.48%	1.08%	-1.95%	2.23%	-1.09%	68.21%	-0.67%	-0.14%	0.08%	-0.33%
Net Income (Continuing)	-3.55B	279M	-262M	429M	99M	1.87B	625M	524M	564M	376M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	94M	870M	895M	44M	0	0	0	0
EPS (Diluted)+	-92.79	6.76	-6.26	6.77	-0.57	22.59	7.37	6.75	7.78	4.62
EPS Growth %	-1.47%	1.07%	-1.93%	2.08%	-1.08%	40.63%	-0.67%	-0.08%	0.15%	-0.41%
EPS (Basic)	-92.79	6.76	-6.26	6.77	-0.57	22.59	7.46	6.94	8.10	4.74
Diluted Shares Outstanding	38.3M	40.4M	42.5M	47.4M	49.2M	83.32M	83M	77.6M	72.5M	81.4M
Basic Shares Outstanding	38.3M	40.4M	42.49M	47.4M	49M	83.32M	82M	75.5M	69.6M	79.3M
Dividend Payout Ratio	-	-	-	-	-	-	0.02%	0.11%	0.14%	0.3%

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+	438M	425M	483M	640M	491M	329M	753M	864M	929M	1.02B
Cash & Short-Term Investments	12M	12M	20M	17M	17M	28M	305M	307M	496M	372M
Cash Only	12M	12M	20M	17M	17M	28M	305M	307M	496M	372M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	240M	276M	353M	367M	347M	219M	292M	408M	278M	467M
Days Sales Outstanding	37.26	57.47	61.47	43.73	47.03	49.68	41.55	45.71	36.07	57.64
Inventory	58M	58M	56M	69M	67M	61M	60M	60M	72M	90M
Days Inventory Outstanding	10.63	15.32	13.93	17.07	17.09	18.46	16.62	14.41	17.67	18.72
Other Current Assets	102M	65M	35M	171M	41M	1M	49M	72M	52M	67M
Total Non-Current Assets+	6.56B	5.93B	5.72B	6.52B	6.47B	2.75B	3.09B	3.1B	3.07B	6.11B
Property, Plant & Equipment	6.31B	5.88B	5.7B	6.46B	6.41B	2.69B	2.64B	2.86B	2.84B	5.79B
Fixed Asset Turnover	0.37x	0.30x	0.37x	0.47x	0.42x	0.60x	0.97x	1.14x	0.99x	0.51x
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	19M	1M	14M	1M	0	1M	13M	25M	86M
Other Non-Current Assets	45M	25M	27M	49M	55M	52M	54M	67M	69M	167M
Total Assets+	7.05B	6.35B	6.21B	7.16B	6.96B	3.07B	3.85B	3.97B	4B	7.13B
Asset Turnover	0.33x	0.28x	0.34x	0.43x	0.39x	0.52x	0.67x	0.82x	0.70x	0.41x
Asset Growth %	-0.44%	-0.1%	-0.02%	0.15%	-0.03%	-0.56%	0.25%	0.03%	0.01%	0.78%
Total Current Liabilities+	605M	726M	732M	607M	709M	473M	854M	894M	616M	980M
Accounts Payable	257M	219M	257M	390M	296M	212M	266M	345M	245M	369M
Days Payables Outstanding	47.11	57.84	63.94	96.51	75.5	64.16	73.66	82.85	60.14	76.74
Short-Term Debt	100M	100M	0	0	128M	7M	11M	18M	15M	15M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	117M	316M	389M	108M	169M	182M	516M	482M	256M	412M
Current Ratio	0.72x	0.59x	0.66x	1.05x	0.69x	0.70x	0.88x	0.97x	1.51x	1.04x
Quick Ratio	0.63x	0.51x	0.58x	0.94x	0.60x	0.57x	0.81x	0.90x	1.39x	0.95x
Cash Conversion Cycle	0.78	14.95	11.46	-35.7	-11.38	3.98	-15.5	-22.73	-6.39	-0.38
Total Non-Current Liabilities+	7.36B	6.18B	6.2B	6.04B	5.74B	1.42B	1.3B	1.21B	1.16B	2.62B
Long-Term Debt	6.04B	5.17B	5.31B	5.25B	4.88B	597M	589M	592M	540M	1.13B
Capital Lease Obligations	0	0	0	0	38M	35M	37M	52M	55M	76M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	113M
Other Non-Current Liabilities	1.32B	1.02B	889M	791M	828M	787M	678M	565M	568M	1.3B
Total Liabilities	7.97B	6.91B	6.93B	6.65B	6.45B	1.89B	2.16B	2.1B	1.78B	3.6B
Total Debt+	6.14B	5.27B	5.31B	5.25B	5.04B	639M	637M	662M	610M	1.22B
Net Debt	6.13B	5.26B	5.29B	5.23B	5.03B	611M	332M	355M	114M	851M
Debt / Equity	-	-	-	10.32x	9.97x	0.54x	0.38x	0.36x	0.27x	0.35x
Debt / EBITDA	7.32x	9.61x	8.24x	3.12x	3.69x	1.73x	0.55x	0.42x	0.52x	1.09x
Net Debt / EBITDA	7.31x	9.59x	8.21x	3.11x	3.68x	1.66x	0.28x	0.22x	0.10x	0.76x
Interest Coverage	-0.53x	-0.04x	0.21x	3.01x	2.22x	0.03x	16.70x	25.55x	15.96x	7.48x
Total Equity+	-916M	-557M	-720M	509M	506M	1.18B	1.69B	1.86B	2.22B	3.54B
Equity Growth %	-1.35%	0.39%	-0.29%	1.71%	-0.01%	1.34%	0.43%	0.1%	0.19%	0.59%
Book Value per Share	-23.92	-13.79	-16.94	10.74	10.28	14.19	20.34	24.02	30.61	43.46
Total Shareholders' Equity	-916M	-557M	-814M	-361M	-389M	1.14B	1.69B	1.86B	2.22B	3.54B
Common Stock	4M	0	-814M	0	0	1M	1M	1M	1M	1M
Retained Earnings	-5.68B	-5.4B	-5.67B	-5.34B	-5.37B	-123M	475M	938M	1.42B	1.68B
Treasury Stock	0	0	0	0	0	0	-148M	-461M	-604M	-796M
Accumulated OCI	-15M	-14M	-23M	-6M	-23M	-8M	72M	81M	74M	75M
Minority Interest	0	0	94M	870M	895M	44M	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+	403M	130M	248M	461M	676M	106M	660M	690M	645M	605M
Operating CF Margin %	0.17%	0.07%	0.12%	0.15%	0.25%	0.07%	0.26%	0.21%	0.23%	0.2%
Operating CF Growth %	-0.83%	-0.68%	0.91%	0.86%	0.47%	-0.84%	5.23%	0.05%	-0.07%	-0.06%
Net Income	-3.55B	273M	-266M	321M	-28M	1.88B	612M	524M	564M	376M
Depreciation & Amortization	1.01B	562M	571M	545M	514M	362M	263M	241M	271M	475M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-1.95B	-78M	0	0	0	0	-396M	226M	35M	71M
Other Non-Cash Items	5.35B	-516M	40M	-189M	196M	-2.18B	288M	-244M	-231M	-220M
Working Capital Changes	-147M	-111M	-97M	-216M	-6M	40M	-107M	-57M	6M	-97M
Change in Receivables	47M	-33M	-45M	-23M	22M	100M	-68M	-81M	110M	58M
Change in Inventory	0	0	2M	-6M	0	0	0	0	-12M	-1M
Change in Payables	-212M	-103M	-52M	-178M	-27M	-68M	8M	-11M	-92M	-182M
Cash from Investing+	-757M	-61M	-215M	-360M	-345M	-39M	-161M	-317M	-175M	-1.08B
Capital Expenditures	-401M	-75M	-371M	-690M	-455M	-47M	-194M	-379M	-185M	-255M
CapEx % of Revenue	0.17%	0.04%	0.18%	0.23%	0.17%	0.03%	0.08%	0.12%	0.07%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-205M	-6M	25M	63M	-97M	-31M	18M	-1M	-17M	22M
Cash from Financing+	352M	-69M	-25M	-104M	-331M	-56M	-222M	-371M	-281M	348M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12M	0	0	0	0	0	-14M	-59M	-81M	-113M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-350M	-10M	-132M	-154M	-135M	-50M	0	-3M	-46M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2M	55M	-123M	-229M	221M	59M	466M	311M	460M	350M
FCF Margin %	0%	0.03%	-0.06%	-0.07%	0.08%	0.04%	0.18%	0.1%	0.16%	0.12%
FCF Growth %	-0.99%	26.5%	-3.24%	-0.86%	1.97%	-0.73%	6.9%	-0.33%	0.48%	-0.24%
FCF per Share	0.05	1.36	-2.89	-4.83	4.49	0.71	5.61	4.01	6.34	4.30
FCF Conversion (FCF/Net Income)	-0.11x	0.47x	-0.93x	1.41x	-24.14x	0.06x	1.08x	1.32x	1.14x	1.61x
Interest Paid	0	0	0	0	0	0	0	43M	44M	80M
Taxes Paid	0	0	0	0	0	0	0	20M	121M	105M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-419.35%	-	-	64.44%	-5.52%	222.99%	42.65%	29.5%	27.63%	13.06%
Return on Invested Capital (ROIC)	-1.84%	-0.21%	1.18%	16.59%	11.32%	0.14%	35.48%	47.91%	29.46%	14.53%
Gross Margin	15.31%	21.16%	30.01%	51.84%	46.86%	25.05%	48.62%	53.35%	47.14%	40.65%
Net Margin	-151.17%	15.92%	-12.69%	10.71%	-1.04%	116.97%	23.86%	16.08%	20.05%	12.72%
Debt / Equity	-	-	-	10.32x	9.97x	0.54x	0.38x	0.36x	0.27x	0.35x
Interest Coverage	-0.53x	-0.04x	0.21x	3.01x	2.22x	0.03x	16.70x	25.55x	15.96x	7.48x
FCF Conversion	-0.11x	0.47x	-0.93x	1.41x	-24.14x	0.06x	1.08x	1.32x	1.14x	1.61x
Revenue Growth	-43.7%	-25.44%	19.57%	46.14%	-12.08%	-40.25%	59.42%	27.02%	-13.66%	5.12%

Revenue by Segment

	2018	2019	2021	2022	2024
Natural Gas, Production	-	207M	-	-	128M
Natural Gas, Production Growth	-	-	-	-	-
Oil and Condensate	-	1.88B	-	-	99M
Oil and Condensate Growth	-	-	-	-	-
Propane	-	179M	-	-	8M
Propane Growth	-	-	-	-	-
Marketing And Trading	-	-	312M	314M	-
Marketing And Trading Growth	-	-	-	0.64%	-
Sale Of Electricity	-	-	172M	261M	-
Sale Of Electricity Growth	-	-	-	51.74%	-
Product and Service, Other	-	-	33M	40M	-
Product and Service, Other Growth	-	-	-	21.21%	-
Oil And Condensate	2.11B	-	-	-	-
Oil And Condensate Growth	-	-	-	-	-
Public Utilities Inventory Propane	260M	-	-	-	-
Public Utilities Inventory Propane Growth	-	-	-	-	-
Natural Gas Production	220M	-	-	-	-
Natural Gas Production Growth	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

California Resources Corporation (CRC) has a price-to-earnings (P/E) ratio of 10.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

California Resources Corporation (CRC) reported $3.53B in revenue for fiscal year 2024. This represents a 13% decrease from $4.07B in 2012.

California Resources Corporation (CRC) grew revenue by 5.1% over the past year. This is steady growth.

Yes, California Resources Corporation (CRC) is profitable, generating $384.0M in net income for fiscal year 2024 (12.7% net margin).

Dividend & Returns

Yes, California Resources Corporation (CRC) pays a dividend with a yield of 2.94%. This makes it attractive for income-focused investors.

California Resources Corporation (CRC) has a return on equity (ROE) of 13.1%. This is reasonable for most industries.

California Resources Corporation (CRC) generated $545.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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California Resources Corporation (CRC) 10-Year Financial Performance & Capital Metrics

CRC • • Industrial / General

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

Revenue $2.96B +5.1%
EBITDA $1.13B -3.3%
Net Income $376M -33.3%
EPS (Diluted) 4.62 -40.6%
Gross Margin 40.65% -13.8%
EBITDA Margin 38.08% -8.1%
Operating Margin 22.02% -30.7%
Net Margin 12.72% -36.6%
ROE 13.06% -52.7%
ROIC 14.53% -50.7%
Debt/Equity 0.35 +25.7%
Interest Coverage 7.48 -53.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 23.4%
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 2.9%
✓Healthy 5Y average net margin of 37.9%
✓Trading at only 1.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Shares diluted 12.3% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.39%

5Y1.89%

3Y4.85%

TTM33.85%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-14.99%

TTM-27.68%

EPS CAGR

10Y-

5Y-

3Y-14.42%

TTM-32.28%

ROCE

10Y Avg14.98%

5Y Avg23.68%

3Y Avg28.67%

Latest13.65%

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+	2.35B	1.75B	2.1B	3.06B	2.69B	1.61B	2.56B	3.26B	2.81B	2.96B
Revenue Growth %	-0.44%	-0.25%	0.2%	0.46%	-0.12%	-0.4%	0.59%	0.27%	-0.14%	0.05%
Cost of Goods Sold+	1.99B	1.38B	1.47B	1.48B	1.43B	1.21B	1.32B	1.52B	1.49B	1.75B
COGS % of Revenue	0.85%	0.79%	0.7%	0.48%	0.53%	0.75%	0.51%	0.47%	0.53%	0.59%
Gross Profit+	360M	371M	629M	1.59B	1.26B	403M	1.25B	1.74B	1.33B	1.2B
Gross Margin %	0.15%	0.21%	0.3%	0.52%	0.47%	0.25%	0.49%	0.53%	0.47%	0.41%
Gross Profit Growth %	-0.8%	0.03%	0.7%	1.52%	-0.21%	-0.68%	2.09%	0.39%	-0.24%	-0.09%
Operating Expenses+	534M	385M	385M	448M	411M	396M	345M	384M	432M	551M
OpEx % of Revenue	0.23%	0.22%	0.18%	0.15%	0.15%	0.25%	0.13%	0.12%	0.15%	0.19%
Selling, General & Admin	354M	271M	249M	299M	290M	252M	200M	222M	267M	321M
SG&A % of Revenue	0.15%	0.15%	0.12%	0.1%	0.11%	0.16%	0.08%	0.07%	0.09%	0.11%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	180M	114M	136M	149M	121M	144M	145M	162M	165M	230M
Operating Income+	-174M	-14M	73M	1.14B	851M	7M	902M	1.35B	894M	651M
Operating Margin %	-0.07%	-0.01%	0.03%	0.37%	0.32%	0%	0.35%	0.42%	0.32%	0.22%
Operating Income Growth %	-1.13%	0.92%	6.21%	14.62%	-0.25%	-0.99%	127.86%	0.5%	-0.34%	-0.27%
EBITDA+	839M	548M	644M	1.69B	1.36B	369M	1.17B	1.59B	1.17B	1.13B
EBITDA Margin %	0.36%	0.31%	0.31%	0.55%	0.51%	0.23%	0.45%	0.49%	0.41%	0.38%
EBITDA Growth %	-0.68%	-0.35%	0.18%	1.62%	-0.19%	-0.73%	2.16%	0.37%	-0.27%	-0.03%
D&A (Non-Cash Add-back)	1.01B	562M	571M	545M	514M	362M	263M	241M	271M	475M
EBIT	-5.15B	517M	81M	808M	483M	2.09B	283M	814M	804M	603M
Net Interest Income+	-326M	-328M	-343M	-379M	-383M	0	-54M	-30M	-16M	-61M
Interest Income	0	0	0	0	0	217M	0	23M	40M	26M
Interest Expense	326M	328M	343M	379M	383M	217M	54M	53M	56M	87M
Other Income/Expense	-5.3B	494M	-335M	0	-751M	1.86B	-673M	-593M	-146M	-135M
Pretax Income+	-5.48B	201M	-262M	429M	100M	1.87B	229M	761M	748M	516M
Pretax Margin %	-2.33%	0.11%	-0.13%	0.14%	0.04%	1.16%	0.09%	0.23%	0.27%	0.17%
Income Tax+	-1.92B	-78M	340M	101M	1M	0	-396M	237M	184M	140M
Effective Tax Rate %	0.65%	1.39%	1.02%	0.76%	-0.28%	1.01%	2.67%	0.69%	0.75%	0.73%
Net Income+	-3.55B	279M	-266M	328M	-28M	1.88B	612M	524M	564M	376M
Net Margin %	-1.51%	0.16%	-0.13%	0.11%	-0.01%	1.17%	0.24%	0.16%	0.2%	0.13%
Net Income Growth %	-1.48%	1.08%	-1.95%	2.23%	-1.09%	68.21%	-0.67%	-0.14%	0.08%	-0.33%
Net Income (Continuing)	-3.55B	279M	-262M	429M	99M	1.87B	625M	524M	564M	376M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	94M	870M	895M	44M	0	0	0	0
EPS (Diluted)+	-92.79	6.76	-6.26	6.77	-0.57	22.59	7.37	6.75	7.78	4.62
EPS Growth %	-1.47%	1.07%	-1.93%	2.08%	-1.08%	40.63%	-0.67%	-0.08%	0.15%	-0.41%
EPS (Basic)	-92.79	6.76	-6.26	6.77	-0.57	22.59	7.46	6.94	8.10	4.74
Diluted Shares Outstanding	38.3M	40.4M	42.5M	47.4M	49.2M	83.32M	83M	77.6M	72.5M	81.4M
Basic Shares Outstanding	38.3M	40.4M	42.49M	47.4M	49M	83.32M	82M	75.5M	69.6M	79.3M
Dividend Payout Ratio	-	-	-	-	-	-	0.02%	0.11%	0.14%	0.3%

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+	438M	425M	483M	640M	491M	329M	753M	864M	929M	1.02B
Cash & Short-Term Investments	12M	12M	20M	17M	17M	28M	305M	307M	496M	372M
Cash Only	12M	12M	20M	17M	17M	28M	305M	307M	496M	372M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	240M	276M	353M	367M	347M	219M	292M	408M	278M	467M
Days Sales Outstanding	37.26	57.47	61.47	43.73	47.03	49.68	41.55	45.71	36.07	57.64
Inventory	58M	58M	56M	69M	67M	61M	60M	60M	72M	90M
Days Inventory Outstanding	10.63	15.32	13.93	17.07	17.09	18.46	16.62	14.41	17.67	18.72
Other Current Assets	102M	65M	35M	171M	41M	1M	49M	72M	52M	67M
Total Non-Current Assets+	6.56B	5.93B	5.72B	6.52B	6.47B	2.75B	3.09B	3.1B	3.07B	6.11B
Property, Plant & Equipment	6.31B	5.88B	5.7B	6.46B	6.41B	2.69B	2.64B	2.86B	2.84B	5.79B
Fixed Asset Turnover	0.37x	0.30x	0.37x	0.47x	0.42x	0.60x	0.97x	1.14x	0.99x	0.51x
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	19M	1M	14M	1M	0	1M	13M	25M	86M
Other Non-Current Assets	45M	25M	27M	49M	55M	52M	54M	67M	69M	167M
Total Assets+	7.05B	6.35B	6.21B	7.16B	6.96B	3.07B	3.85B	3.97B	4B	7.13B
Asset Turnover	0.33x	0.28x	0.34x	0.43x	0.39x	0.52x	0.67x	0.82x	0.70x	0.41x
Asset Growth %	-0.44%	-0.1%	-0.02%	0.15%	-0.03%	-0.56%	0.25%	0.03%	0.01%	0.78%
Total Current Liabilities+	605M	726M	732M	607M	709M	473M	854M	894M	616M	980M
Accounts Payable	257M	219M	257M	390M	296M	212M	266M	345M	245M	369M
Days Payables Outstanding	47.11	57.84	63.94	96.51	75.5	64.16	73.66	82.85	60.14	76.74
Short-Term Debt	100M	100M	0	0	128M	7M	11M	18M	15M	15M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	117M	316M	389M	108M	169M	182M	516M	482M	256M	412M
Current Ratio	0.72x	0.59x	0.66x	1.05x	0.69x	0.70x	0.88x	0.97x	1.51x	1.04x
Quick Ratio	0.63x	0.51x	0.58x	0.94x	0.60x	0.57x	0.81x	0.90x	1.39x	0.95x
Cash Conversion Cycle	0.78	14.95	11.46	-35.7	-11.38	3.98	-15.5	-22.73	-6.39	-0.38
Total Non-Current Liabilities+	7.36B	6.18B	6.2B	6.04B	5.74B	1.42B	1.3B	1.21B	1.16B	2.62B
Long-Term Debt	6.04B	5.17B	5.31B	5.25B	4.88B	597M	589M	592M	540M	1.13B
Capital Lease Obligations	0	0	0	0	38M	35M	37M	52M	55M	76M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	113M
Other Non-Current Liabilities	1.32B	1.02B	889M	791M	828M	787M	678M	565M	568M	1.3B
Total Liabilities	7.97B	6.91B	6.93B	6.65B	6.45B	1.89B	2.16B	2.1B	1.78B	3.6B
Total Debt+	6.14B	5.27B	5.31B	5.25B	5.04B	639M	637M	662M	610M	1.22B
Net Debt	6.13B	5.26B	5.29B	5.23B	5.03B	611M	332M	355M	114M	851M
Debt / Equity	-	-	-	10.32x	9.97x	0.54x	0.38x	0.36x	0.27x	0.35x
Debt / EBITDA	7.32x	9.61x	8.24x	3.12x	3.69x	1.73x	0.55x	0.42x	0.52x	1.09x
Net Debt / EBITDA	7.31x	9.59x	8.21x	3.11x	3.68x	1.66x	0.28x	0.22x	0.10x	0.76x
Interest Coverage	-0.53x	-0.04x	0.21x	3.01x	2.22x	0.03x	16.70x	25.55x	15.96x	7.48x
Total Equity+	-916M	-557M	-720M	509M	506M	1.18B	1.69B	1.86B	2.22B	3.54B
Equity Growth %	-1.35%	0.39%	-0.29%	1.71%	-0.01%	1.34%	0.43%	0.1%	0.19%	0.59%
Book Value per Share	-23.92	-13.79	-16.94	10.74	10.28	14.19	20.34	24.02	30.61	43.46
Total Shareholders' Equity	-916M	-557M	-814M	-361M	-389M	1.14B	1.69B	1.86B	2.22B	3.54B
Common Stock	4M	0	-814M	0	0	1M	1M	1M	1M	1M
Retained Earnings	-5.68B	-5.4B	-5.67B	-5.34B	-5.37B	-123M	475M	938M	1.42B	1.68B
Treasury Stock	0	0	0	0	0	0	-148M	-461M	-604M	-796M
Accumulated OCI	-15M	-14M	-23M	-6M	-23M	-8M	72M	81M	74M	75M
Minority Interest	0	0	94M	870M	895M	44M	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+	403M	130M	248M	461M	676M	106M	660M	690M	645M	605M
Operating CF Margin %	0.17%	0.07%	0.12%	0.15%	0.25%	0.07%	0.26%	0.21%	0.23%	0.2%
Operating CF Growth %	-0.83%	-0.68%	0.91%	0.86%	0.47%	-0.84%	5.23%	0.05%	-0.07%	-0.06%
Net Income	-3.55B	273M	-266M	321M	-28M	1.88B	612M	524M	564M	376M
Depreciation & Amortization	1.01B	562M	571M	545M	514M	362M	263M	241M	271M	475M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-1.95B	-78M	0	0	0	0	-396M	226M	35M	71M
Other Non-Cash Items	5.35B	-516M	40M	-189M	196M	-2.18B	288M	-244M	-231M	-220M
Working Capital Changes	-147M	-111M	-97M	-216M	-6M	40M	-107M	-57M	6M	-97M
Change in Receivables	47M	-33M	-45M	-23M	22M	100M	-68M	-81M	110M	58M
Change in Inventory	0	0	2M	-6M	0	0	0	0	-12M	-1M
Change in Payables	-212M	-103M	-52M	-178M	-27M	-68M	8M	-11M	-92M	-182M
Cash from Investing+	-757M	-61M	-215M	-360M	-345M	-39M	-161M	-317M	-175M	-1.08B
Capital Expenditures	-401M	-75M	-371M	-690M	-455M	-47M	-194M	-379M	-185M	-255M
CapEx % of Revenue	0.17%	0.04%	0.18%	0.23%	0.17%	0.03%	0.08%	0.12%	0.07%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-205M	-6M	25M	63M	-97M	-31M	18M	-1M	-17M	22M
Cash from Financing+	352M	-69M	-25M	-104M	-331M	-56M	-222M	-371M	-281M	348M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12M	0	0	0	0	0	-14M	-59M	-81M	-113M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-350M	-10M	-132M	-154M	-135M	-50M	0	-3M	-46M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2M	55M	-123M	-229M	221M	59M	466M	311M	460M	350M
FCF Margin %	0%	0.03%	-0.06%	-0.07%	0.08%	0.04%	0.18%	0.1%	0.16%	0.12%
FCF Growth %	-0.99%	26.5%	-3.24%	-0.86%	1.97%	-0.73%	6.9%	-0.33%	0.48%	-0.24%
FCF per Share	0.05	1.36	-2.89	-4.83	4.49	0.71	5.61	4.01	6.34	4.30
FCF Conversion (FCF/Net Income)	-0.11x	0.47x	-0.93x	1.41x	-24.14x	0.06x	1.08x	1.32x	1.14x	1.61x
Interest Paid	0	0	0	0	0	0	0	43M	44M	80M
Taxes Paid	0	0	0	0	0	0	0	20M	121M	105M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-419.35%	-	-	64.44%	-5.52%	222.99%	42.65%	29.5%	27.63%	13.06%
Return on Invested Capital (ROIC)	-1.84%	-0.21%	1.18%	16.59%	11.32%	0.14%	35.48%	47.91%	29.46%	14.53%
Gross Margin	15.31%	21.16%	30.01%	51.84%	46.86%	25.05%	48.62%	53.35%	47.14%	40.65%
Net Margin	-151.17%	15.92%	-12.69%	10.71%	-1.04%	116.97%	23.86%	16.08%	20.05%	12.72%
Debt / Equity	-	-	-	10.32x	9.97x	0.54x	0.38x	0.36x	0.27x	0.35x
Interest Coverage	-0.53x	-0.04x	0.21x	3.01x	2.22x	0.03x	16.70x	25.55x	15.96x	7.48x
FCF Conversion	-0.11x	0.47x	-0.93x	1.41x	-24.14x	0.06x	1.08x	1.32x	1.14x	1.61x
Revenue Growth	-43.7%	-25.44%	19.57%	46.14%	-12.08%	-40.25%	59.42%	27.02%	-13.66%	5.12%

Revenue by Segment

	2018	2019	2021	2022	2024
Natural Gas, Production	-	207M	-	-	128M
Natural Gas, Production Growth	-	-	-	-	-
Oil and Condensate	-	1.88B	-	-	99M
Oil and Condensate Growth	-	-	-	-	-
Propane	-	179M	-	-	8M
Propane Growth	-	-	-	-	-
Marketing And Trading	-	-	312M	314M	-
Marketing And Trading Growth	-	-	-	0.64%	-
Sale Of Electricity	-	-	172M	261M	-
Sale Of Electricity Growth	-	-	-	51.74%	-
Product and Service, Other	-	-	33M	40M	-
Product and Service, Other Growth	-	-	-	21.21%	-
Oil And Condensate	2.11B	-	-	-	-
Oil And Condensate Growth	-	-	-	-	-
Public Utilities Inventory Propane	260M	-	-	-	-
Public Utilities Inventory Propane Growth	-	-	-	-	-
Natural Gas Production	220M	-	-	-	-
Natural Gas Production Growth	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

California Resources Corporation (CRC) has a price-to-earnings (P/E) ratio of 10.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

California Resources Corporation (CRC) reported $3.53B in revenue for fiscal year 2024. This represents a 13% decrease from $4.07B in 2012.

California Resources Corporation (CRC) grew revenue by 5.1% over the past year. This is steady growth.

Yes, California Resources Corporation (CRC) is profitable, generating $384.0M in net income for fiscal year 2024 (12.7% net margin).

Dividend & Returns

Yes, California Resources Corporation (CRC) pays a dividend with a yield of 2.94%. This makes it attractive for income-focused investors.

California Resources Corporation (CRC) has a return on equity (ROE) of 13.1%. This is reasonable for most industries.

California Resources Corporation (CRC) generated $545.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.