California Resources CorpCalifornia Resources Corp
California Resources Corp

California Resources Corp

CRC
Energy·Oil, Gas & Consumable Fuels

California Resources Corp. is an independent energy and carbon management company, which engages in energy transition. The firm focuses on increasing the value of land, mineral and technical resources for decarbonization by developing carbon capture, storage and other emissions reducing projects. It operates through the following segments: Oil and Natural Gas Exploration and Production, and Carbon Management. The Oil and Natural Gas Exploration and Production segment explores for, develops and produces crude oil and condensate, natural gas liquids and natural gas in major producing basins located in California and Utah. The Carbon Management segment, referred to as Carbon TerraVault, is focused on building, installing, operating and maintaining CO2 capture equipment, transportation assets and underground storage facilities. The company was founded on April 23, 2014 and is headquartered in Long Beach, CA.

California; U.S.A
Market cap
No dataNo data
Revenue
$3.7B+14.7% YoY
Net income
$363M−3.5% YoY
Free cash flow
$543M+53.0% YoY

Market

Listed stock
CRCPriceNYSE
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Financial performance

Revenue
$3.7B+14.7% YoY
Operating income
$598M−3.5% YoY
Net income
$363M−3.5% YoY
Free cash flow
$543M+53.0% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $1.9B, 2022 $2.7B, 2023 $2.8B, 2024 $3.2B, 2025 $3.7B. Operating income: 2021 $293M, 2022 $812M, 2023 $808M, 2024 $620M, 2025 $598M. Net income: 2021 $612M, 2022 $524M, 2023 $564M, 2024 $376M, 2025 $363M. Free cash flow: 2021 $466M, 2022 $311M, 2023 $468M, 2024 $355M, 2025 $543M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
14.7%+55 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $293M, 2022-12-31 $812M, 2023-12-31 $808M, 2024-12-31 $620M, 2025-12-31 $598M. Net income: 2021-12-31 $612M, 2022-12-31 $524M, 2023-12-31 $564M, 2024-12-31 $376M, 2025-12-31 $363M. Free cash flow: 2021-12-31 $466M, 2022-12-31 $311M, 2023-12-31 $468M, 2024-12-31 $355M, 2025-12-31 $543M

Growth heatmap

2022202320242025CAGR
Revenue
+43.3%
+3.5%
+14.2%
+14.7%
+18.1%
Gross profit
+43.3%
+3.5%
+13.7%
+14.8%
+17.9%
Operating income
+177.1%
-0.5%
-23.3%
-3.5%
+19.5%
Free cash flow
-33.3%
+50.5%
-24.1%
+53.0%
+3.9%

Earnings quality

Operating cash flow
$865M+41.8% YoY
Net income
$363M−3.5% YoY
Free cash flow
$543M+53.0% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 238%, 2024-12-31 162%, 2023-12-31 116%, 2022-12-31 132%, 2021-12-31 108%. Free cash flow: 2025-12-31 150%, 2024-12-31 94%, 2023-12-31 83%, 2022-12-31 59%, 2021-12-31 76%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
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Diluted shares
Latest
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
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EV / EBITDA
No data
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Free cash flow yield
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