California Resources Corporation

How Do They Make Money?

FY2025 revenue

Yes. It kept 10 cents of every revenue dollar as net income in FY2025 and turned 15 cents into free cash flow.

Operating income, FY2025

16% of revenue

▼ −4% vs FY2024 ($620M, 19%)

Net income, FY2025

10% of revenue

▼ −3% vs FY2024 ($376M, 12%)

Free cash flow, FY2025

15% of revenue

▲ +53% vs FY2024 ($355M, 11%)

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Growing. Revenue grew 94% in 4 years, from $1.9B in FY2021 to $3.7B in FY2025, about 18% a year.

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