Latest Ratios: P/E Ratio 12.4x · EV/EBITDA 3.9x · ROE 10.1%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.5B | $3.9B | $4.2B | $4.0B | $3.4B | $3.5B | $2.0B | $444M | $808M | $826M | $860M |
| Enterprise Value | $5.8B | $5.1B | $5.1B | $4.1B | $3.7B | $3.9B | $2.6B | $5.5B | $6.0B | $6.1B | $6.1B |
| P/E Ratio → | 12.35 | 10.77 | 11.23 | 7.03 | 6.45 | 5.80 | 1.04 | — | 2.52 | — | 3.15 |
| P/S Ratio | 1.26 | 1.08 | 1.43 | 1.41 | 1.04 | 1.38 | 1.22 | 0.16 | 0.26 | 0.39 | 0.49 |
| P/B Ratio | 1.22 | 1.06 | 1.19 | 1.79 | 1.81 | 2.10 | 1.66 | 0.88 | 1.59 | — | — |
| P/FCF | 8.38 | 7.20 | 12.07 | 8.62 | 10.86 | 7.61 | 33.31 | 2.01 | — | — | 15.64 |
| P/OCF | 5.26 | 4.52 | 6.98 | 6.15 | 4.89 | 5.37 | 18.54 | 0.66 | 1.75 | 3.33 | 6.62 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.42 | 1.72 | 1.45 | 1.15 | 1.51 | 1.60 | 2.03 | 1.97 | 2.92 | 3.49 |
| EV / EBITDA | 3.91 | 3.48 | 4.51 | 3.50 | 2.34 | 3.33 | 6.98 | 4.01 | 3.59 | 9.49 | 11.16 |
| EV / EBIT | 6.78 | 6.03 | 8.42 | 5.07 | 4.58 | 13.70 | 1.23 | 11.33 | 7.48 | 75.46 | 11.83 |
| EV / FCF | — | 9.46 | 14.50 | 8.87 | 12.00 | 8.32 | 43.67 | 24.75 | — | — | 111.20 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.6% | 39.6% | 40.6% | 47.1% | 53.3% | 48.6% | 25.0% | 46.9% | 51.8% | 30.0% | 21.2% |
| Operating Margin | 23.6% | 23.6% | 22.0% | 31.8% | 41.6% | 35.2% | 0.4% | 31.6% | 37.2% | 3.5% | -0.8% |
| Net Profit Margin | 10.1% | 10.1% | 12.7% | 20.0% | 16.1% | 23.9% | 117.0% | -1.0% | 10.7% | -12.7% | 15.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.1% | 10.1% | 13.1% | 27.6% | 29.5% | 42.6% | 223.0% | -5.5% | 64.4% | — | — |
| ROA | 5.0% | 5.0% | 6.8% | 14.2% | 13.4% | 17.7% | 37.5% | -0.4% | 4.9% | -4.2% | 4.2% |
| ROIC | 13.8% | 13.8% | 14.5% | 29.5% | 47.9% | 35.5% | 0.1% | 11.3% | 16.6% | 1.2% | -0.2% |
| ROCE | 13.6% | 13.6% | 13.7% | 27.7% | 44.6% | 32.3% | 0.2% | 13.3% | 19.0% | 1.3% | -0.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.37 | 0.37 | 0.35 | 0.27 | 0.36 | 0.38 | 0.54 | 9.97 | 10.32 | — | — |
| Debt / EBITDA | 0.92 | 0.92 | 1.09 | 0.52 | 0.42 | 0.55 | 1.73 | 3.69 | 3.12 | 8.24 | 9.61 |
| Net Debt / Equity | — | 0.33 | 0.24 | 0.05 | 0.19 | 0.20 | 0.52 | 9.93 | 10.28 | — | — |
| Net Debt / EBITDA | 0.83 | 0.83 | 0.76 | 0.10 | 0.22 | 0.28 | 1.66 | 3.68 | 3.11 | 8.21 | 9.59 |
| Debt / FCF | — | 2.26 | 2.43 | 0.25 | 1.14 | 0.71 | 10.36 | 22.74 | — | — | 95.56 |
| Interest Coverage | 8.04 | 8.04 | 6.93 | 14.36 | 15.36 | 5.24 | 9.62 | 1.26 | 2.13 | 0.24 | 1.58 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.89 | 0.89 | 1.04 | 1.51 | 0.97 | 0.88 | 0.70 | 0.69 | 1.05 | 0.66 | 0.59 |
| Quick Ratio | 0.79 | 0.79 | 0.95 | 1.39 | 0.90 | 0.81 | 0.57 | 0.60 | 0.94 | 0.58 | 0.51 |
| Cash Ratio | 0.13 | 0.13 | 0.38 | 0.81 | 0.34 | 0.36 | 0.06 | 0.02 | 0.03 | 0.03 | 0.02 |
| Asset Turnover | — | 0.49 | 0.41 | 0.70 | 0.82 | 0.67 | 0.52 | 0.39 | 0.43 | 0.34 | 0.28 |
| Inventory Turnover | 20.53 | 20.53 | 19.50 | 20.65 | 25.33 | 21.97 | 19.77 | 21.36 | 21.38 | 26.20 | 23.83 |
| Days Sales Outstanding | — | 46.08 | 57.64 | 36.07 | 45.71 | 41.55 | 49.68 | 47.03 | 43.73 | 61.47 | 57.47 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.0% | 3.5% | 2.7% | 2.0% | 1.7% | 0.4% | — | — | — | — | — |
| Payout Ratio | 37.5% | 37.5% | 30.1% | 14.4% | 11.3% | 2.3% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.1% | 9.3% | 8.9% | 14.2% | 15.5% | 17.3% | 95.8% | — | 39.7% | — | 31.8% |
| FCF Yield | 11.9% | 13.9% | 8.3% | 11.6% | 9.2% | 13.1% | 3.0% | 49.7% | — | — | 6.4% |
| Buyback Yield | 8.3% | 9.6% | 4.5% | 3.6% | 9.3% | 4.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 11.3% | 13.1% | 7.2% | 5.7% | 11.0% | 4.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $87M | $81M | $73M | $78M | $83M | $83M | $49M | $47M | $43M | $40M |
Regulatory and Liquidity Constraints
According to current market data, CRC trades at a forward P/E of 8.53 and an EV/EBITDA of 4.95, suggesting that investors are applying a significant discount compared to Permian-based peers, likely reflecting the heightened political and regulatory risks inherent in the company's California-only operational footprint.
The valuation multiples appear to price in a terminal decline for the core E&P business, with the market seemingly unwilling to assign a premium for the potential carbon sequestration pivot. Investors should monitor whether the forward EV/EBITDA expansion relative to the TTM figure indicates an expectation of margin compression or increased capital intensity as the company executes its transition strategy.
Based on reported financial figures, CRC's ROIC has trended downward from 5.9% in 2023Q4 to 2.2% in 2026Q1, indicating that the company is struggling to generate adequate returns on its massive investment in property, plant, and equipment within the restrictive California regulatory environment.
The decay in ROIC suggests that the capital-intensive nature of steam-flooding and compliance-related infrastructure is outpacing the incremental cash flows generated by production. This trend warrants further investigation into whether the company's recent acquisitions are diluting overall capital efficiency or if the regulatory hurdles are simply raising the cost of maintaining existing production levels.
As reported in quarterly filings, CRC's asset turnover has remained stagnant at approximately 0.13, while the cash conversion cycle has shown erratic behavior, swinging from negative values to positive, which suggests that the company's working capital management is increasingly sensitive to operational disruptions and regulatory-induced delays.
The inability to improve asset turnover despite significant capital expenditure implies that the company's infrastructure is not being utilized more effectively over time. Investors should monitor the DSO and DPO trends, as any sustained increase in the cash conversion cycle may indicate that the company is losing leverage with its suppliers or facing collection delays in its electricity generation segment.
Based on recent balance sheet data, CRC's current ratio has deteriorated to 0.55 as of 2026Q1, a sharp decline from the 1.51 level observed in 2023Q4, indicating that the company's ability to meet short-term obligations is becoming increasingly reliant on external financing or asset divestitures.
The rapid depletion of the quick ratio to 0.47 suggests that the company has limited liquid assets to buffer against unexpected operational shocks or regulatory fines. This liquidity profile appears vulnerable, and any further tightening of credit conditions could force management to curtail its dividend or capital return programs to preserve cash for essential operations.
The most commonly misapplied metric for CRC is the standard P/E ratio, which obscures the company's true economic reality by failing to account for the non-cash accounting distortions and the long-term, speculative nature of its carbon sequestration investments that do not yet contribute to current earnings.
Using P/E to value CRC ignores the significant impact of Asset Retirement Obligations and the capital-heavy nature of the CCS pivot, which may be better analyzed through an EV/EBITDA or a sum-of-the-parts valuation. Analysts should instead focus on the company's ability to generate free cash flow from its core assets while managing the high regulatory costs that are not captured by traditional earnings multiples.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying CRC stock.
California Resources Corporation's current P/E ratio is 12.4x. The historical average is 6.0x. This places it at the 100th percentile of its historical range.
California Resources Corporation's current EV/EBITDA is 3.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.3x.
California Resources Corporation's return on equity (ROE) is 10.1%. The historical average is -1.8%.
Based on historical data, California Resources Corporation is trading at a P/E of 12.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
California Resources Corporation's current dividend yield is 3.04% with a payout ratio of 37.5%.
California Resources Corporation has 39.6% gross margin and 23.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
California Resources Corporation's Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.