California Resources Corporation (CRC) vs Crescent Energy Company (CRGY)

California Resources Corporation and Crescent Energy Company are both Oil & Gas E&P companies. California Resources Corporation and Crescent Energy Company are of similar size ($4.7B and $4.4B). California Resources Corporation has negative trailing earnings, so its P/E is not meaningful; Crescent Energy Company trades at 93.9×. Crescent Energy Company grew revenue faster over the last twelve months: 24.3% against −22.5%. Crescent Energy Company has the higher net margin (1.27% vs −3.79%) and the higher return on invested capital (5.51% vs −0.74%). Both pay a dividend; Crescent Energy Company yields more (4.19% vs 2.13%). Across the 22 metrics below, Crescent Energy Company leads on 19 and California Resources Corporation on 3.

Valuation

Metric CRC CRGY Oil & Gas E&P median
P/E n/m 93.93 10.57
P/S 1.46 1.01 1.80
P/B 1.37 0.84 1.27
Price to free cash flow 12.11 1.78 9.99
EV/EBITDA 13.04 4.20 5.08
EV/Sales 1.88 2.15 2.39
Earnings yield (2.53%) 1.06% 6.06%
Free cash flow yield 8.26% 56.17% 6.17%

Profitability

Metric CRC CRGY Oil & Gas E&P median
Gross margin 52.43% 100.00% 80.41%
Operating margin (1.72%) 20.56% 21.39%
Net margin (3.79%) 1.27% 14.17%
Free cash flow margin 12.05% 56.61% 9.71%
Return on equity (3.55%) 1.13% 10.05%
Return on assets (1.75%) 0.50% 5.81%
Return on invested capital (0.74%) 5.51% 6.32%

Growth

Metric CRC CRGY Oil & Gas E&P median
Revenue growth (TTM) (22.45%) 24.25% 9.94%
EPS growth (last fiscal year) (10.17%) 178.92% —
Revenue growth, 5-year CAGR 18.67% 36.54% 18.67%
Net income growth, 5-year CAGR (27.12%) 0.00% 0.00%

Health

Metric CRC CRGY Oil & Gas E&P median
Debt to equity 0.38 1.00 0.28
Current ratio 0.66 0.94 0.96
Net debt to EBITDA 1.04 3.40 0.91

Dividend

Metric CRC CRGY Oil & Gas E&P median
Dividend yield 2.13% 4.19% 4.93%
Payout ratio 0.08 0.24 0.07

Size

Metric CRC CRGY Oil & Gas E&P median
Market cap 4.66b 4.43b 923.59m

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