California Resources (CRC) FY2021 results: revenue $1.9 billion, up 21.2% on the year
California Resources Corp. (CRC) reported revenue of $1.9 billion for fiscal 2021, the year ended 31 December 2021, up 21.2% on the year before. Net income was $612 million, down 65.3%, and diluted earnings per share $7.37. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$1.9 billion
+21.2% on the year
FY2014FY2021
Operating margin
15.5%
-120.9% a year earlier
FY2014FY2021
Net income
$612 million
-65.3% on the year
FY2014FY2021
Diluted EPS
$7.37
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
660
106
676
+522.6%
Capital expenditure
194
47.0
455
+312.8%
Free cash flow
466
59.0
221
+689.8%
Free cash flow margin
24.7%
3.8%
8.4%
Cash from investing
-161
-37.0
-394
Cash from financing
-222
-58.0
-282
Depreciation and amortisation
213
362
471
-41.2%
Share-based compensation
19.0
3.0
32.0
+533.3%
Buybacks
148
0.0
0.0
Dividends paid
14.0
0.0
0.0
Dividend per share
$0.17
n/a
n/a
Diluted shares, weighted
83m
n/a
49m
Shares outstanding at period end
79m
83m
49m
-4.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,688
1,138
-389
+48.3%
Non-controlling interest
0.0
44.0
93.0
Redeemable equity
n/a
0.0
802
Debt
589
597
4,977
-1.3%
Operating lease liabilities
37.0
35.0
37.0
+5.7%
Finance lease liabilities
n/a
0.0
1.0
Other liabilities
1,532
1,260
1,437
+21.6%
Total liabilities and equity
3,846
3,074
6,958
+25.1%
Fixed assets
n/a
n/a
6,352
Cash and equivalents
305
28.0
17.0
+989.3%
Receivables
245
177
277
+38.4%
Inventory
60.0
61.0
67.0
-1.6%
Other assets
3,236
2,808
245
+15.2%
Total assets
3,846
3,074
6,958
+25.1%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.