California Resources Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data California Resources Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,403	1,621	2,006	3,064	2,634	2,048	2,707	2,801	3,198	3,669
Cost of revenue			1,933	2,295	2,205
Gross profit			73	769	429
Selling, general and administrative	354	235	249	299	290	200	222	267	321	333
Operating expenses	354						1,954	2,025	2,589	3,070
Operating income	-5,142	-293	73	769	429	293	812	808	620	598
Interest expense	326	328	343	379	383			56	87	106
Other non-operating income	-334	507	-335	-340	-329	-64	-51	-60	-104	-96
Pre-tax income	-5,476	201	-262	429	100	229	761	748	516	502
Income tax	-1,922	-78	0	0	1	-396	237	184	140	139
Net income to minority interests			4	101	127	13	0	0
Net income	-3,554	279	-266	328	-28	612	524	564	376	363
EBITDA	-4,138	266	617	1,271	900	506	1,010	1,033	1,008	1,109
EPS, basic	-92.79	6.76	-6.26	6.77	-0.57	7.46	6.94	8.10	4.74	4.17
EPS, diluted	-92.79	6.76	-6.26	6.77	-0.57	7.37	6.75	7.78	4.62	4.15
Shares, basic (weighted)	38.3	40.4	42.5	47.4	49	82	75.5	69.6	79.3	87
Shares, diluted (weighted)	38.3	40.4	42.5	47.4	49	83	77.6	72.5	81.4	87.4
Dividend per share	0.30					0.17	0.79	1.16	1.40	1.57

Balance sheet

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	12	12	20	17	17	305	307	496	372	132
Receivables	200	232	277	299	277	245	326	216	330	333
Inventory	58	58	56	69	67	60	60	72	90	106
Other current assets	168	123	130	255	130	121	133	113	176	353
Total current assets	438	425	483	640	491	753	864	929	1,024	938
Property, plant and equipment	6,312	5,885	5,696	6,455	6,352	2,599	2,786	2,770	5,680	5,905
Lease right-of-use assets					59	43	73	73	105	83
Other non-current assets	303	44	28	63	115	98	140	148	272	373
Total assets	7,053	6,354	6,207	7,158	6,958	3,846	3,967	3,998	7,135	7,403
Accounts payable	257	219	257	390	296	266	345	245	369	452
Accrued liabilities	222	407	475	217	313	297	298	366	611	556
Deferred revenue									25	19
Short-term debt	100				100				0
Total current liabilities	605	726	732	607	709	854	894	616	980	1,050
Long-term debt	6,043				4,877	589	592	540	1,132	1,283
Lease liabilities					37	37	52	55	76	61
Other non-current liabilities	830	620	602	575	720	145	185	201	377	312
Total liabilities	7,969	6,911	6,927	7,405	7,254	2,158	2,103	1,779	3,597	3,729
Total debt	6,143	5,268	5,306	5,251	4,977	589	592	540	1,132	1,283
Paid-in capital	4,782	4,861	4,879	4,987	5,004	1,288	1,305	1,329	2,578	2,625
Retained earnings	-5,683	-5,404	-5,670	-5,342	-5,370	475	938	1,419	1,680	1,905
Treasury stock						-148	-461	-604	-796	-944
Other comprehensive income	-15	-14	-23	-6	-23	72	81	74	75	87
Shareholders' equity	-916	-557	-814	-361	-389	1,688	1,864	2,219	3,538	3,674
Minority interests			94	114	93	0
Total equity	-916	-557	-720	-247	-296	1,688	1,864	2,219	3,538	3,674
Total liabilities and equity	7,053	6,354	6,207	7,158	6,958	3,846	3,967	3,998	7,135	7,403
Shares outstanding	38.8	42.5	42.9	48.7	49.2	79.3	71.9	68.7	91.1	88.8

Cash flow statement

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-3,554	279	-262	429	99	625	524	564	376	363
Depreciation and amortization	1,004	559	544	502	471	213	198	225	388	511
Stock-based compensation	37	30	29	45	32	19	30	48	40	39
Deferred income tax	-2,258	-78			0	-396	226	35	71	85
Change in receivables	99	-33	-45	-23	22	-68	-81	110	58	83
Change in inventory			2	-6	0	0	0	-12	-1	-6
Change in payables	-212	-103	-52	-178	-27	8	-11	-92	-182	-220
Cash from operations	403	130	248	461	676	660	690	653	610	865
Capital expenditures	-401	-75	-371	-690	-455	-194	-379	-185	-255	-322
Acquisitions						-52	0	0	-853	-440
Cash from investing	-757	-61	-313	-1,156	-394	-161	-317	-175	-1,077	-725
Debt issued		990	1,274	0	0	600	0	0	888
Debt repaid		-350	-650	0	0
Stock issued	8	4	3	54	4	2	1	2	2	3
Share buybacks					0	-148	-313	-143	-192	-377
Dividends paid	-12				0	-14	-59	-81	-113	-136
Cash from financing	352	-69	73	692	-282	-222	-371	-289	343	-380
Net change in cash	-2		8	-3	0	277	2	189	-124	-240
Free cash flow	2	55	-123	-229	221	466	311	468	355	543
Interest paid	350	382	393	433	425	28	43	44	80	85
Income taxes paid	0	0	0	0		0	20	121	105	36

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $52.51 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-1.4%	Operating income / revenue.
EBITDA margin	11.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-5.1%	Pre-tax income / revenue.
Net margin	-3.0%	Net income / revenue.
FCF margin	9.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	22.0%	Cash from operations / revenue.
Return on equity (ROE)	-3.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.7%	Net income / average total assets.
Return on invested capital (ROIC)	-0.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	9.7%	Selling, general and administrative expense / revenue.
Capex / revenue	12.3%	Capital expenditures / revenue.
D&A / revenue	13.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	14.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	-3.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-9.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	10.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	3.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-3.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-11.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-10.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-15.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	41.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	7.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	53.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	20.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	12.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	25.5%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	3.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	25.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	3.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	23.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	7.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	4.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.66x	Current assets / current liabilities.
Quick ratio	0.38x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.05x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.38x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	18.0%	Total debt / total assets.
Liabilities / assets	52.1%	Total liabilities / total assets.
Net debt	$1.23B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.66x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$358.0M	Current assets - current liabilities.
Tangible book value	$3.40B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.56x	Revenue / average total assets.
Fixed asset turnover	0.67x	Revenue / average property, plant and equipment.
Receivables turnover	11.6x	Revenue / average receivables.
Days sales outstanding	31 days	365 x average receivables / revenue.
Capex / operating cash flow	56.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$1.36	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$44.58	Revenue / diluted weighted shares.
FCF per share	$4.31	Free cash flow / diluted weighted shares.
Operating cash flow per share	$9.81	Cash from operations / diluted weighted shares.
Book value per share	$38.30	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$38.30	Tangible book value / shares outstanding.
Cash per share	$0.63	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	35.8%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	17.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.66B	Share price x shares outstanding.
Enterprise value	$5.89B	Market cap + total debt - cash - short-term investments.
P/S	1.17x	Market cap / revenue.
P/B	1.37x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.37x	Market cap / tangible book value, when positive.
P/FCF	12.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.32x	Market cap / cash from operations, when positive.
EV/Sales	1.48x	Enterprise value / revenue.
EV/EBITDA	12.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	15.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.3%	Free cash flow / market cap.
Earnings yield	-2.6%	Net income / market cap (the inverse of P/E).
Dividend yield	3.0%	Dividends paid over the period / market cap.
Shareholder yield	4.4%	(Dividends paid + share buybacks) / market cap.

What was California Resources Corp's revenue in fiscal 2025?

California Resources Corp reported revenue of $3.67B for fiscal 2025, 14.7% higher than the year before.

Was California Resources Corp profitable in fiscal 2025?

Yes. Net income was $363.0M, a net margin of 9.9%.

How much free cash flow did California Resources Corp generate in fiscal 2025?

Cash from operations of $865.0M minus capital expenditures of $322.0M left free cash flow of $543.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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