Crescent Energy Co (CRGY) Stock Analysis and Metrics

Sector: Energy Industry: Oil & Gas Integrated CIK: 0001866175

Market Cap 0.00

P/B 0.00

P/E 0.00

P/S 0.00

ROIC (Qtr) 2.30

Div Yield % 1.20

Rev 1y % (Qtr) 16.34

Total Debt (Qtr) 3.23 Bn

Debt/Equity (Qtr) 0.72

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About

Crescent Energy Co (CRGY), a prominent player in the energy sector, specializes in oil and gas exploration and production. The company's primary business activities encompass the acquisition, exploration, and development of oil and gas properties, along with the marketing and sale of the produced hydrocarbons. These operations span various regions, making Crescent Energy a global entity in the energy industry. The company's revenue generation is primarily driven by the sale of oil and gas products, including crude oil, natural gas, and natural...

Crescent Energy Co (CRGY), a prominent player in the energy sector, specializes in oil and gas exploration and production. The company's primary business activities encompass the acquisition, exploration, and development of oil and gas properties, along with the marketing and sale of the produced hydrocarbons. These operations span various regions, making Crescent Energy a global entity in the energy industry.

The company's revenue generation is primarily driven by the sale of oil and gas products, including crude oil, natural gas, and natural gas liquids. Crude oil and natural gas are the company's principal products, which are marketed to a diverse clientele, including refineries, petrochemical plants, utilities, and other oil and gas companies. Crescent Energy's customer base is extensive, comprising both major industry players and smaller independent operators.

Crescent Energy's business is structured into several segments, each with its unique characteristics and challenges. The Exploration and Production (E&P) Segment is responsible for the acquisition, exploration, and development of oil and gas properties. The Midstream Segment handles the transportation, processing, and marketing of oil and gas products, overseeing pipelines, processing facilities, and storage terminals. The Marketing and Trading Segment manages the sale of oil and gas products to customers, negotiating sales contracts, managing inventory, and optimizing pricing and logistics. The Corporate and Other Segment includes corporate overhead and other miscellaneous items not categorized under the other segments.

The energy industry is highly competitive, with numerous companies striving for market share. Crescent Energy's key competitors include major oil and gas companies and smaller independent operators. The company's competitive advantages lie in its experienced management team, robust financial position, and access to capital markets.

Crescent Energy's customer base is diverse, with clients located in various regions worldwide. The company's position within the industry is that of a relatively new player, formed through the merger of two smaller companies. However, its strong management team and solid financial position enable it to compete effectively with larger companies.

Crescent Energy's product and service portfolio includes crude oil, natural gas, and natural gas liquids. These are marketed and sold through its various segments, ensuring a comprehensive approach to the energy industry. The company's diverse product range and global operations make it a significant player in the oil and gas exploration and production sector.

Investment thesis

Bull case

Strong operating cash flow of 1.69B provides robust 0.52x coverage of total debt 3.23B, indicating excellent debt servicing capability and financial flexibility.
Healthy cash reserves of 8.88M provide 2.44x coverage of short-term debt 3.64M, demonstrating strong liquidity position and minimal refinancing risk.
Strong operating cash flow of 1.69B provides 4.95x coverage of SG&A expenses 342.34M, showing efficient operational cost management.
Strong tangible asset base of 9.69B provides 3x coverage of total debt 3.23B, indicating robust asset backing and low credit risk.
Short-term investments of 106.69M provide solid 1.48x coverage of other current liabilities 72.17M, indicating strong liquidity.

Bear case

Operating cash flow of 1.69B barely covers its investment activities of (1.88B), with a coverage ratio of -0.90, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
Operating cash flow of 1.69B provides thin coverage of dividend payments of (104.05M) with a -16.28 ratio, suggesting potential dividend sustainability issues if operational performance deteriorates.
Investment activities of (1.88B) provide weak support for R&D spending of 8.71M, which is -216.06x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
Cash reserves of 8.88M provide limited coverage of acquisition spending of (1.11B), which is -0.01x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
Short-term investments of 106.69M significantly exceed cash reserves of 8.88M, which is 12.02x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.

Peer comparison

Companies in the Oil & Gas Integrated

S.No.	Ticker	Company	Market Cap	P/E	P/S	Total Debt (Qtr)
1	XOM	Exxon Mobil Corp	630.73 Bn	18.39	1.45	42.04 Bn
2	CVX	Chevron Corp	360.16 Bn	29.26	2.14	41.54 Bn
3	TTE	TotalEnergies SE	172.29 Bn	13.13	0.94	61.42 Bn
4	IMO	Imperial Oil Ltd	99.73 Bn	51.19	4.54	2.90 Bn
5	BP	Bp Plc	98.37 Bn	1,788.57	0.51	72.53 Bn
6	SU	Suncor Energy Inc	67.22 Bn	15.56	1.87	10.59 Bn
7	CVE	Cenovus Energy Inc.	38.97 Bn	17.12	1.04	7.27 Bn
8	NFG	National Fuel Gas Co	7.90 Bn	12.06	3.32	2.77 Bn

Industry comparisons

Current Valuation	Value	Ind Avg
EV to Assets EV to Assets	0.35	1.02
EV to Cash from Ops. EV/CFO	6.95	11.79
EV to Debt EV to Debt	1.05	7.40
EV to EBIT EV/EBIT	62.92	19.95
EV to EBITDA EV/EBITDA	6.27	7.85
EV to Free Cash Flow [EV/FCF] EV/FCF	20.73	46.96
EV to Market Cap EV to Market Cap	0.00	1.30
EV to Revenue EV/Rev	3.10	2.01
Price to Book Value [P/B] P/B	0.00	2.14
Price to Earnings [P/E] P/E	0.00	168.60

Dividend Metrics	Value	Ind Avg
Dividend Coverage Ratio Div Coverage (Qtr)	0.23	0.95
Dividend Payout Ratio % Div Payout % (Qtr)	-137.10	786.52
Dividend per Basic Share Div per Share (Qtr)	0.48	1.89
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr)	13.23	37.80
Interest Coverage Int. cover (Qtr)	1.09	42.88

Growth Metrics	Value	Ind Avg
Capex Growth (1y) % Capex 1y % (Qtr)	-41.65	-10.32
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr)	-93.48	32.58
Dividend Growth (1y) % Div 1y % (Qtr)	0.00	-4.88
EBIAT Growth (1y) % EBIAT 1y % (Qtr)	45.43	142.66
EBITDA Growth (1y) % EBITDA 1y % (Qtr)	38.96	22.56
EBIT Growth (1y) % EBIT 1y % (Qtr)	16.04	35.32
EBT Growth (1y) % EBT 1y % (Qtr)	-68.17	190.68
EPS Growth (1y) % EPS 1y % (Qtr)	-142.17	511.78
FCF Growth (1y) % FCF 1y % (Qtr)	49.46	4.66
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr)	39.03	16.28

Liquidity Ratios	Value	Ind Avg
Asset Utilization Ratio Asset Util Ratio (Qtr)	0.37	0.58
Cash Payout Ratio Cash Payout (Qtr)	0.04	0.13
Cash Ratio Cash Ratio (Qtr)	0.01	0.27
Current Ratio Curr Ratio (Qtr)	0.81	1.06
Debt to Equity Ratio Debt/Equity (Qtr)	0.72	0.88
Interest Cover Ratio Int Coverage (Qtr)	1.09	42.88
Times Interest Earned Times Interest Earned (Qtr)	1.09	42.88

Profitability	Value	Ind Avg
EBITDA Margin % EBITDA Margin % (Qtr)	41.90	18.39
EBIT Margin % EBIT Margin % (Qtr)	8.83	6.19
EBT Margin % EBT Margin % (Qtr)	0.74	1.30
Gross Margin % Gross Margin % (Qtr)	57.30	30.31
Net Profit Margin % Net Margin % (Qtr)	0.70	-1.26

Research Tools

Crescent Energy Co (NYSE: CRGY)

About

Investment thesis

Bull case

Bear case

Peer comparison

Industry comparisons

Research Tools

Crescent Energy Co (NYSE: CRGY)

About

Investment thesis

Bull case

Bear case

Peer comparison

Industry comparisons

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