公司概述
California Resources Corporation functions as an independent energy and carbon management entity within the United States, engaging in the exploration, development, and production of crude oil, oil condensate, natural gas liquids, and natural gas across two primary operational segments. The company operates specifically within the Energy sector and the Oil & Gas E&P industry, positioning itself to capitalize on commodity cycles while managing associated carbon implications. As of the latest data, the corporation holds a market capitalization of $5.86B and generates total annual revenue (TTM) of $3.40B while employing approximately 2,500 individuals. These valuation and revenue figures indicate a mid-to-large-scale operator that maintains a significant footprint in the upstream energy landscape, suggesting a substantial asset base and operational complexity typical of major independent producers.
财务健康
The company reported a total revenue of $3.40B and a net income of $363.00M for the trailing twelve months, with an EBITDA of $1.26B, revealing a cost structure where operating expenses and taxes consume a significant portion of top-line earnings. Specifically, the gap between the $3.40B revenue and the $363.00M net income highlights a net profit margin of 10.7%, indicating that roughly 89.3 cents of every dollar generated are consumed by costs before reaching the bottom line. The firm generated $544.63M in free cash flow, which provides a robust cushion for financial flexibility, allowing for potential capital allocation strategies such as debt reduction or share buybacks without relying solely on operating income. Profitability efficiency is further delineated by three distinct margins: a gross margin of 54.4% reflecting the high value of raw energy extraction, an operating margin of 18.7% showing effective control over production costs, and a profit margin of 10.7% representing the final yield to shareholders. Regarding balance sheet leverage, the company holds $132.00M in cash against $1.36B in total debt, resulting in a debt-to-equity ratio of 37.04%, which suggests a moderately leveraged position rather than a highly conservative one. Short-term liquidity is constrained by a current ratio of 0.89, indicating that current assets are insufficient to cover current liabilities without accessing external financing or converting non-current assets. Management effectiveness is quantified by a return on equity of 10.1% and a return on assets of 6.4%, metrics that demonstrate the company's ability to generate returns relative to the capital invested by shareholders and the total asset base utilized.
估值评估
Valuation metrics indicate a trailing P/E ratio of 15.90 and a forward P/E of 15.39, suggesting that the market expects earnings growth to slightly accelerate or stabilize in the coming year, as the forward multiple is lower than the historical average. The price-to-book ratio stands at 1.59, which implies that the stock trades at a 59% premium over its book value, potentially reflecting the scarcity of oil and gas reserves or intangible assets not fully captured on the balance sheet. Alternative valuation measures include a price-to-sales ratio of 1.72 and an EV/EBITDA of 5.62, suggesting the company is valued at a discount relative to many peers in the energy sector given the low EV/EBITDA multiple. Price volatility over the past year has been significant, with a 52-week high of $71.98 and a 52-week low of $30.97, creating a trading range of over 130% which reflects the cyclical nature of the oil and gas sector. The current price sits approximately 63% below the 52-week high and 102% above the 52-week low, illustrating the substantial fluctuation experienced by the security within a single fiscal year. Risk exposure relative to the broader market is measured by a beta of 1.03, indicating that the stock price moves with a slight degree of higher volatility than the overall market index, making it a moderate-risk investment within the energy portfolio.
Growth & Income
Growth dynamics for the trailing twelve months show a revenue decline of -13.8% and an earnings contraction of -61.5%, revealing that earnings are shrinking at a significantly faster rate than revenue due to the compounding effects of lower commodity prices or increased operational costs. The substantial disparity between the -13.8% revenue drop and the -61.5% earnings drop suggests that fixed cost structures or leverage are amplifying the impact of revenue shortfalls on the bottom line. As a dividend payer, the company offers a dividend yield of 2.5% with a payout ratio of 37.8%, indicating that the current dividend distribution is covered by less than half of the generated earnings, which theoretically supports sustainability despite the recent earnings contraction. However, the sharp decline in net income raises questions about the durability of the payout ratio if earnings continue to deteriorate in subsequent quarters. Overall, the growth and income profile currently reflects a contractionary phase where capital preservation may take precedence over expansion, as evidenced by the negative growth rates and the reliance on a moderate dividend yield to compensate for the lack of earnings acceleration.