California Resources (CRC) financial statements
California Resources reported revenue of $2.9B in fiscal 2025, up 2.1% a year over 9 years.
Net income was $363M and the operating margin 20.5%, against -214.0% in 2015.
Free cash flow was $543M, and the company returned $136M in dividends and $377M in net buybacks.
The diluted share count rose 128% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from California Resources's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4B | $1.6B | $1.9B | $2.6B | $2.3B | $2.0B | $2.6B | $2.2B | $2.5B | $2.9B |
| Cost of revenue | — | — | $1.9B | $2.3B | $2.2B | — | — | — | — | — |
| Selling, general and admin | $354M | $235M | $249M | $299M | $290M | $200M | $222M | $267M | $321M | $333M |
| Operating income | -$5.1B | -$293M | $73M | $769M | $429M | $293M | $812M | $808M | $620M | $598M |
| Interest expense | $326M | $328M | $343M | $379M | $383M | — | — | $56M | $87M | $106M |
| Pre-tax income | -$5.5B | $201M | -$262M | $429M | $100M | $229M | $761M | $748M | $516M | $502M |
| Income tax | -$1.9B | -$78M | $0 | $0 | $1M | -$396M | $237M | $184M | $140M | $139M |
| Net income | -$3.6B | $279M | -$266M | $328M | -$28M | $612M | $524M | $564M | $376M | $363M |
| EPS (diluted) | -$92.79 | $6.76 | -$6.26 | $6.77 | -$0.57 | $7.37 | $6.75 | $7.78 | $4.62 | $4.15 |
| Diluted shares | 38M | 40M | 42M | 47M | 49M | 83M | 78M | 72M | 81M | 87M |
| Operating margin | -214.0% | -18.1% | 3.8% | 29.7% | 18.9% | 14.3% | 30.7% | 37.5% | 24.4% | 20.5% |
| Net margin | -147.9% | 17.2% | -13.7% | 12.7% | -1.2% | 29.9% | 19.8% | 26.2% | 14.8% | 12.5% |
Balance sheet
Fiscal years, from California Resources's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $12M | $12M | $20M | $17M | $17M | $305M | $307M | $496M | $372M | $132M |
| Receivables | $200M | $232M | $277M | $299M | $277M | $245M | $326M | $216M | $330M | $333M |
| Inventory | $58M | $58M | $56M | $69M | $67M | $60M | $60M | $72M | $90M | $106M |
| Total current assets | $438M | $425M | $483M | $640M | $491M | $753M | $864M | $929M | $1.0B | $938M |
| Property, plant and equipment | $6.3B | $5.9B | $5.7B | $6.5B | $6.4B | $2.6B | $2.8B | $2.8B | $5.7B | $5.9B |
| Total assets | $7.1B | $6.4B | $6.2B | $7.2B | $7.0B | $3.8B | $4.0B | $4.0B | $7.1B | $7.4B |
| Total current liabilities | $605M | $726M | $732M | $607M | $709M | $854M | $894M | $616M | $980M | $1.1B |
| Long-term debt | $6.0B | — | — | — | $4.9B | $589M | $592M | $540M | $1.1B | $1.3B |
| Total liabilities | $8.0B | $6.9B | $6.9B | $7.4B | $7.3B | $2.2B | $2.1B | $1.8B | $3.6B | $3.7B |
| Shareholders' equity | -$916M | -$557M | -$814M | -$361M | -$389M | $1.7B | $1.9B | $2.2B | $3.5B | $3.7B |
| Net debt | $6.1B | -$12M | -$20M | -$17M | $5.0B | $284M | $285M | $44M | $760M | $1.2B |
Cash flow
Fiscal years, from California Resources's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $403M | $130M | $248M | $461M | $676M | $660M | $690M | $653M | $610M | $865M |
| Capital spending | $401M | $75M | $371M | $690M | $455M | $194M | $379M | $185M | $255M | $322M |
| Free cash flow | $2M | $55M | -$123M | -$229M | $221M | $466M | $311M | $468M | $355M | $543M |
| Stock-based compensation | $37M | $30M | $29M | $45M | $32M | $19M | $30M | $48M | $40M | $39M |
| Dividends paid | $12M | — | — | — | $0 | $14M | $59M | $81M | $113M | $136M |
| Share buybacks (net) | — | — | — | — | $0 | -$148M | -$313M | -$143M | -$192M | -$377M |
| Net borrowing | — | — | $1.3B | $0 | $0 | — | — | — | — | — |
| Free cash flow margin | 0.1% | 3.4% | -6.4% | -8.8% | 9.7% | 22.8% | 11.8% | 21.7% | 14.0% | 18.7% |
| Dividends per share | $0.31 | — | — | — | — | $0.17 | $0.76 | $1.12 | $1.39 | $1.56 |
Questions
What was California Resources's revenue in 2025?
$2.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does California Resources generate?
$543M in fiscal 2025 (operating cash flow minus capital spending).
From California Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.