California Resources vs Crescent Energy
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The short version
- California Resources is the larger business, with $3.7B of revenue in fiscal 2025 against $3.6B for Crescent Energy.
- Crescent Energy grew revenue faster (22.1%, against 14.7%).
- California Resources kept more of each dollar of sales as operating profit (16.3% operating margin, against 6.4%).
- California Resources earned a higher return on the capital invested in it (9.5%, against 2.3%).
| Latest fiscal year | CRC · FY25 | CRGY · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.9B | — |
| Revenue | $3.7B | $3.6B |
| Free cash flow | $543M | — |
| Net income | $363M | $133M |
| Growth | ||
| Revenue growth | 14.7% | 22.1% |
| 5-year growth | 6.9% | 36.5% |
| Share count change | 7.4% | — |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 16.3% | 6.4% |
| Net margin | 9.9% | 3.7% |
| FCF margin | 14.8% | — |
| Return on capital | 9.5% | 2.3% |
| Return on equity | 10.1% | 3.2% |
| Balance sheet | ||
| Net debt | $1.2B | $5.5B |
| Net debt / EBITDA | 1.0x | 4.0x |
| Dividends and buybacks | $513M | $149M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 4 | — |
Revenue
FY16
CRC $1.5B
CRGY —
FY17
CRC $2.0B
CRGY —
FY18
CRC $3.1B
CRGY —
FY19
CRC $2.6B
CRGY $1.1B
FY20
CRC —
CRGY $754M
FY21
CRC $1.9B
CRGY $1.5B
FY22
CRC $2.7B
CRGY $3.1B
FY23
CRC $2.8B
CRGY $2.4B
FY24
CRC $3.2B
CRGY $2.9B
FY25
CRC $3.7B
CRGY $3.6B
CRC
CRGY
Operating margin
FY16
CRC −18.9%
CRGY —
FY17
CRC 3.6%
CRGY —
FY18
CRC 25.1%
CRGY —
FY19
CRC 16.3%
CRGY 20.9%
FY20
CRC —
CRGY −49.5%
FY21
CRC 15.5%
CRGY 32.8%
FY22
CRC 30.0%
CRGY 42.0%
FY23
CRC 28.9%
CRGY 13.6%
FY24
CRC 19.4%
CRGY 7.5%
FY25
CRC 16.3%
CRGY 6.4%
CRC
CRGY
Free cash flow
FY16
CRC $55.0M
CRGY —
FY17
CRC −$123M
CRGY —
FY18
CRC −$229M
CRGY —
FY19
CRC $221M
CRGY —
FY20
CRC —
CRGY —
FY21
CRC $466M
CRGY —
FY22
CRC $311M
CRGY —
FY23
CRC $468M
CRGY —
FY24
CRC $355M
CRGY —
FY25
CRC $543M
CRGY —
CRC
CRGY
Return on capital
FY16
CRC −5.9%
CRGY —
FY17
CRC 1.2%
CRGY —
FY18
CRC 16.1%
CRGY —
FY19
CRC 8.8%
CRGY —
FY20
CRC —
CRGY —
FY21
CRC —
CRGY —
FY22
CRC 27.1%
CRGY 64.2%
FY23
CRC 27.6%
CRGY 10.9%
FY24
CRC 13.8%
CRGY 3.6%
FY25
CRC 9.5%
CRGY 2.3%
CRC
CRGY
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.