CRC Energy

California Resources Corporation

$51.38-2.21%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Energy
Industry: Oil & Gas E&P
Country: United States
Market cap: 4.6B USD
Enterprise value: 6.1B USD
Full-time employees: 2,500

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.02 vs a peer median of 0.57) and less short-term liquidity (current ratio 0.66 vs a peer median of 1.37)higher risk: bigger price swings (beta 1.02 vs peers 0.57) and less liquidity (current ratio 0.66 vs peers 1.37)

Ranks #353 of 363 energy companies (bottom 4%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 23% from December 2022 to June 2026.
California Resources had 23% more shares at June 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.California Resources had 23% more shares at June 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Earnings slid into a loss. Loss per share this year after a profit last year.
California Resources made a loss per share in its latest year after a profit the year before.
Borrowing rising faster than profit. Since 2022: debt +117%, operating profit −26%.
California Resources's debt grew 117% since 2022 while operating profit changed −26%.
Valuation signals disagree. Cheaper than 66% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, California Resources looks cheaper than 66% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

StockQuotient Score

17/ 100

Oct 5 18 → Nov 4 17 (-1)

Valuation

Is the price right?

22/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-2.7%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.49Sector median: 0.0522 · MAD: 0.0351

EBITDA yield8.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.80Sector median: 0.1209 · MAD: 0.0518

Free cash flow yield8.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.46Sector median: 0.0618 · MAD: 0.0491

Other data (not scored)

Book yield74.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5851 · MAD: 0.2677

Growth

Is it growing?

12/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 11.1%

Why

Weaker than most peers on:

▼ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -1.87Sector median: 0.0107 · MAD: 0.3431

3-year revenue growth-2.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.11Sector median: -0.0135 · MAD: 0.0807

Revenue growth-22.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.08Sector median: 0.0050 · MAD: 0.1101

Profitability

Does it earn well?

10/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 8.7 points to -1.7%

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-1.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.43Sector median: 0.1169 · MAD: 0.0936

Return on assets-1.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.03Sector median: 0.0444 · MAD: 0.0302

Return on invested capital-0.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.58Sector median: 0.0929 · MAD: 0.0648

Other data (not scored)

Gross margin56.8%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3310 · MAD: 0.1935

Return on equity-3.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.1014 · MAD: 0.0743

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.02

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.86Sector median: 0.5680 · MAD: 0.2415

Current ratio0.66×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.40Sector median: 1.3710 · MAD: 0.5060

Debt / equity0.38×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.28Sector median: 0.4659 · MAD: 0.3175

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about California Resources

Is California Resources getting weaker?: Its latest SEC filing (Aug 10, 2026) got stronger: operating margin rose 8.7 points to -1.7%. Its overall score is unchanged at 17/100 since Oct 28, 2026.
How is California Resources valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 22/100 against 404 energy peers. Free cash flow yield 8.4% vs a peer median of 6.2% (stronger than 66% of peers).Free cash flow yield 8.4% vs peers 6.2% (stronger than 66% of peers). Earnings yield -2.7% vs a peer median of 5.2% (weaker than 100% of peers).Earnings yield -2.7% vs peers 5.2% (weaker than 100% of peers).
Is California Resources growing?: More slowly than most of its peers. Growth scores 12/100 against 404 energy peers. Revenue growth -22.5% vs a peer median of 0.5% (weaker than 92% of peers).Revenue growth -22.5% vs peers 0.5% (weaker than 92% of peers).
How profitable is California Resources?: Less profitable than most of its peers. Profitability scores 10/100 against 404 energy peers. Operating margin -1.7% vs a peer median of 11.7% (weaker than 90% of peers).Operating margin -1.7% vs peers 11.7% (weaker than 90% of peers).
How risky is California Resources?: Higher risk relative to 404 energy peers, judged on debt, liquidity and share-price swings. Current ratio 0.66× vs a peer median of 1.37× (weaker than 89% of peers).Current ratio 0.66× vs peers 1.37× (weaker than 89% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 10, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Operating margin rose 8.7 points to -1.7%

Worth watching: California Resources is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.9B USD	3.2B USD	+11.1%
Net income (12 months)	−463.0M USD	−121.0M USD	−73.9%
Operating margin	-10.4%	-1.7%	+8.7 pts
Free cash flow (12 months)	380.0M USD	385.0M USD	+1.3%
Debt	1.3B USD	1.3B USD	−2.2%
Cash	40.0M USD	56.0M USD	+40.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Oil & Gas E&P · 29 companies

Valuations in Oil & Gas E&P are within their usual range since Feb 2018.

57% of months since Feb 2018 were valued lower than now.
25% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +29% and earnings −8% (medians): prices rose faster than earnings.
Median price-to-sales is −28% vs the whole market, against a usual −22%.

Feb 2018Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	—	—	—	—	—	—
Operating margin	14.3%	30.0%	28.8%	19.4%	16.3%	▼ 3.1 pts
Net margin	29.9%	19.4%	20.1%	11.8%	9.9%	▼ 1.9 pts
Return on assets (ROA)	15.9%	13.2%	14.1%	5.3%	4.9%	▼ 0.4 pts
Return on equity (ROE)	36.3%	28.1%	25.4%	10.6%	9.9%	▼ 0.7 pts
Free cash flow margin	22.8%	11.5%	16.7%	11.1%	14.8%	▲ 3.7 pts
Current ratio	0.88×	0.97×	1.51×	1.04×	0.89×	▼ 15%
Quick ratio	0.81×	0.90×	1.39×	0.95×	0.79×	▼ 17%
Debt to equity	0.35×	0.32×	0.24×	0.32×	0.35×	▲ 9.1%

CRC price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.02 vs a peer median of 0.57) and less short-term liquidity (current ratio 0.66 vs a peer median of 1.37)higher risk: bigger price swings (beta 1.02 vs peers 0.57) and less liquidity (current ratio 0.66 vs peers 1.37)

Ranks #353 of 363 energy companies (bottom 4%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 23% from December 2022 to June 2026.

California Resources had 23% more shares at June 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.California Resources had 23% more shares at June 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Earnings slid into a loss. Loss per share this year after a profit last year.

California Resources made a loss per share in its latest year after a profit the year before.

Borrowing rising faster than profit. Since 2022: debt +117%, operating profit −26%.

California Resources's debt grew 117% since 2022 while operating profit changed −26%.

Valuation signals disagree. Cheaper than 66% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, California Resources looks cheaper than 66% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Questions investors ask about California Resources

Is California Resources getting weaker?

Its latest SEC filing (Aug 10, 2026) got stronger: operating margin rose 8.7 points to -1.7%. Its overall score is unchanged at 17/100 since Oct 28, 2026.

How is California Resources valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 22/100 against 404 energy peers. Free cash flow yield 8.4% vs a peer median of 6.2% (stronger than 66% of peers).Free cash flow yield 8.4% vs peers 6.2% (stronger than 66% of peers). Earnings yield -2.7% vs a peer median of 5.2% (weaker than 100% of peers).Earnings yield -2.7% vs peers 5.2% (weaker than 100% of peers).

Is California Resources growing?

More slowly than most of its peers. Growth scores 12/100 against 404 energy peers. Revenue growth -22.5% vs a peer median of 0.5% (weaker than 92% of peers).Revenue growth -22.5% vs peers 0.5% (weaker than 92% of peers).

How profitable is California Resources?

Less profitable than most of its peers. Profitability scores 10/100 against 404 energy peers. Operating margin -1.7% vs a peer median of 11.7% (weaker than 90% of peers).Operating margin -1.7% vs peers 11.7% (weaker than 90% of peers).

How risky is California Resources?

Higher risk relative to 404 energy peers, judged on debt, liquidity and share-price swings. Current ratio 0.66× vs a peer median of 1.37× (weaker than 89% of peers).Current ratio 0.66× vs peers 1.37× (weaker than 89% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.9B USD

3.2B USD

+11.1%

Net income (12 months)

−463.0M USD

−121.0M USD

−73.9%

Operating margin

-10.4%

-1.7%

+8.7 pts

Free cash flow (12 months)

380.0M USD

385.0M USD

+1.3%

Debt

1.3B USD

1.3B USD

−2.2%

Cash

40.0M USD

56.0M USD

+40.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

—

Operating margin

14.3%

30.0%

28.8%

19.4%

16.3%

▼ 3.1 pts

Net margin

29.9%

19.4%

20.1%

11.8%

9.9%

▼ 1.9 pts

Return on assets (ROA)

15.9%

13.2%

14.1%

5.3%

4.9%

▼ 0.4 pts

Return on equity (ROE)

36.3%

28.1%

25.4%

10.6%

9.9%

▼ 0.7 pts

Free cash flow margin

22.8%

11.5%

16.7%

11.1%

14.8%

▲ 3.7 pts

Current ratio

0.88×

0.97×

1.51×

1.04×

0.89×

▼ 15%

Quick ratio

0.81×

0.90×

1.39×

0.95×

0.79×

▼ 17%

Debt to equity

0.35×

0.32×

0.24×

0.32×

0.35×

▲ 9.1%