California Resources vs Matador Resources
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The short version
- Matador Resources is the larger business, with $3.7B of revenue in fiscal 2025 against $3.7B for California Resources.
- California Resources grew revenue faster (14.7%, against 5.5%).
- Matador Resources kept more of each dollar of sales as operating profit (33.2% operating margin, against 16.3%).
- California Resources turned more of its sales into free cash flow (14.8% FCF margin, against 7.3%).
| Latest fiscal year | CRC · FY25 | MTDR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.9B | $7.4B |
| Revenue | $3.7B | $3.7B |
| Free cash flow | $543M | $270M |
| Net income | $363M | $759M |
| Growth | ||
| Revenue growth | 14.7% | 5.5% |
| 5-year growth | 6.9% | 33.8% |
| Share count change | 7.4% | 0.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 16.3% | 33.2% |
| Net margin | 9.9% | 20.5% |
| FCF margin | 14.8% | 7.3% |
| Return on capital | 9.5% | — |
| Return on equity | 10.1% | 14.1% |
| Balance sheet | ||
| Net debt | $1.2B | — |
| Net debt / EBITDA | 1.0x | — |
| Dividends and buybacks | $513M | $219M |
| Valuation & quality | ||
| P/E | — | 10.3x |
| Piotroski F-score | 4 | — |
Revenue
FY16
CRC $1.5B
MTDR $264M
FY17
CRC $2.0B
MTDR $544M
FY18
CRC $3.1B
MTDR $900M
FY19
CRC $2.6B
MTDR $984M
FY20
CRC —
MTDR $862M
FY21
CRC $1.9B
MTDR $1.7B
FY22
CRC $2.7B
MTDR $3.1B
FY23
CRC $2.8B
MTDR $2.8B
FY24
CRC $3.2B
MTDR $3.5B
FY25
CRC $3.7B
MTDR $3.7B
CRC
MTDR
Operating margin
FY16
CRC −18.9%
MTDR −67.0%
FY17
CRC 3.6%
MTDR 29.6%
FY18
CRC 25.1%
MTDR 40.4%
FY19
CRC 16.3%
MTDR 23.9%
FY20
CRC —
MTDR −60.5%
FY21
CRC 15.5%
MTDR 47.7%
FY22
CRC 30.0%
MTDR 57.5%
FY23
CRC 28.9%
MTDR 43.1%
FY24
CRC 19.4%
MTDR 40.9%
FY25
CRC 16.3%
MTDR 33.2%
CRC
MTDR
Free cash flow
FY16
CRC $55.0M
MTDR −$320M
FY17
CRC −$123M
MTDR −$574M
FY18
CRC −$229M
MTDR −$896M
FY19
CRC $221M
MTDR −$394M
FY20
CRC —
MTDR −$244M
FY21
CRC $466M
MTDR $215M
FY22
CRC $311M
MTDR $915M
FY23
CRC $468M
MTDR −$1.4B
FY24
CRC $355M
MTDR −$1.7B
FY25
CRC $543M
MTDR $270M
CRC
MTDR
Return on capital
FY16
CRC −5.9%
MTDR —
FY17
CRC 1.2%
MTDR —
FY18
CRC 16.1%
MTDR —
FY19
CRC 8.8%
MTDR —
FY20
CRC —
MTDR —
FY21
CRC —
MTDR —
FY22
CRC 27.1%
MTDR —
FY23
CRC 27.6%
MTDR —
FY24
CRC 13.8%
MTDR —
FY25
CRC 9.5%
MTDR —
CRC
MTDR
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.