A Business at a Glance
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CIVITAS RESOURCES, INC.
CIVI
CIVITAS RESOURCES, INC. (CIVI) has a current P/E ratio of 3.2.
CIVITAS RESOURCES, INC. (CIVI) has a 5-year average return on invested capital (ROIC) of 12.7%. This indicates solid capital allocation.
CIVITAS RESOURCES, INC. (CIVI) has a market capitalization of $2.3B. It is classified as a mid-cap stock.
Yes, CIVITAS RESOURCES, INC. (CIVI) pays a dividend with a trailing twelve-month yield of 8.08%. The company also returns capital through share buybacks, with a buyback yield of 20.53%.
CIVITAS RESOURCES, INC. (CIVI) operates in the Crude Petroleum & Natural Gas industry, within the Energy sector.
CIVITAS RESOURCES, INC. (CIVI) reported annual revenue of $5.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
CIVITAS RESOURCES, INC. (CIVI) has a net profit margin of 16.1%. This is a healthy margin.
Item 1. Business When we use the terms “Civitas,” the “Company,” “we,” “us,” or “our,” we are referring to Civitas Resources, Inc. and its consolidated subsidiaries unless the context otherwise requires. We have included certain technical terms important to an understanding of our business under “Glossary of Crude Oil and Natural Gas Terms” above. Throughout this document, we make statements that may be classified as “forward-looking.” Refer to “Information Regarding Forward-Looking Statements” above for an explanation of these types of statements. Civitas is an independent exploration and production company focused on the acquisition, development, and production of crude oil and associated liquids-rich natural gas in the DJ Basin in Colorado and the Permian Basin in Texas and New Mexico.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | % of Total |
|---|---|---|---|---|---|---|
Crude Oil, Natural Gas, And Natural Gas Liquids | — | — | $3.79B | $3.47B | $5.20B | 50% |
Crude Oil Derivatives (volumes in Bbl/day and prices in $/Bbl) | — | $615M | $2.54B | $2.78B | $4.37B | 42% |
Natural Gas Liquids (NGL) | — | — | $560M | $393M | $667M | 6% |
Natural Gas | — | — | $692M | $306M | $225M | 2% |
Midstream operating expense | — | — | $4M | $5M | $4M | 0% |
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 4.7B | 5.2B | 3.5B | 3.8B | 931M | 218M |
| Net Income | 638M | 839M | 784M | 1.2B | 179M | 104M |
| EPS | $7.03 | $8.46 | $9.02 | $14.58 | $0.71 | $1.65 |
| Free Cash Flow | 0 | 2.9B | 2.2B | 2.5B | 275M | 158M |
| ROIC | 0.0% | 12.1% | 10.6% | 30.0% | 6.3% | 4.6% |
| Gross Margin | - | 33.9% | 38.6% | 48.3% | 35.1% | 36.7% |
| Debt/Equity | 0.77 | 0.68 | 0.77 | 0.08 | 0.09 | 0.03 |
| Dividends/Share | $2.21 | $4.97 | $7.60 | $6.29 | $0.24 | $0.00 |
| Operating Income | 0 | 1.5B | 1.2B | 1.7B | 261M | 45M |
| Operating Margin | 0.0% | 29.6% | 34.0% | 44.5% | 28.1% | 20.6% |
| ROE | 9.5% | 13.1% | 12.7% | 23.2% | 6.3% | 10.4% |
| Shares Outstanding | 85M | 99M | 87M | 86M | 254M | 63M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 231M | 422M | 559M | N/A | 195M | 277M | 313M | 218M | 931M | 3.8B | 3.5B | 5.2B | 4.7B |
| Gross Margin | 47.3% | 48.0% | 6.1% | N/A | -26.6% | 56.0% | 34.9% | 36.7% | 35.1% | 48.3% | 38.6% | 33.9% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 31M | 56M | 82M | 70M | 77M | 42M | 40M | 35M | 65M | 143M | 161M | 227M | 215M |
| EBIT | 78M | 147M | -48M | -907M | -129M | 112M | 70M | 45M | 261M | 1.7B | 1.2B | 1.5B | 0 |
| Op. Margin | 33.7% | 34.8% | -8.5% | N/A | -66.1% | 40.6% | 22.3% | 20.6% | 28.1% | 44.5% | 34.0% | 29.6% | 0.0% |
| Net Income | 47M | 69M | 20M | -746M | -199M | 168M | 67M | 104M | 179M | 1.2B | 784M | 839M | 638M |
| Net Margin | 20.1% | 16.4% | 3.6% | N/A | -101.9% | 60.8% | 21.4% | 47.5% | 19.2% | 32.9% | 22.5% | 16.1% | 13.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 4.4M | 248K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 6.2% | 11.0% | 1.3% | -69.0% | -36.2% | 14.3% | 7.2% | 4.6% | 6.3% | 30.0% | 10.6% | 12.1% | 0.0% |
| ROE | 8.0% | 10.5% | 2.7% | -356.0% | -174.2% | 21.7% | 7.4% | 10.4% | 6.3% | 23.2% | 12.7% | 13.1% | 9.5% |
| ROA | 4.6% | 4.5% | 1.0% | -59.2% | -16.6% | 17.8% | 5.9% | 8.7% | 4.5% | 15.7% | 5.6% | 5.8% | 4.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 158M | 307M | 328M | 226M | 15M | 117M | 225M | 159M | 275M | 2.5B | 2.2B | 2.9B | 2.7B |
| Free Cash Flow | 142M | 302M | 327M | 226M | 15M | 116M | 224M | 158M | 275M | 2.5B | 2.2B | 2.9B | 0 |
| Owner Earnings | 85M | 154M | 78M | -33M | -106M | 68M | 141M | 61M | 32M | 1.6B | 1.0B | 761M | 698M |
| CapEx | 16M | 5.2M | 282K | 112K | 0 | 387K | 341K | 440K | 0 | 579K | 1.9M | 0 | 0 |
| Maint. CapEx | 68M | 141M | 229M | 245M | 111M | 42M | 76M | 91M | 227M | 816M | 1.2B | 2.1B | 2.0B |
| Growth CapEx | 0 | 0 | 0 | 0 | N/A | 0 | 0 | 0 | N/A | 0 | 0 | N/A | 0 |
| D&A | 68M | 141M | 229M | 245M | 111M | 42M | 76M | 91M | 227M | 816M | 1.2B | 2.1B | 2.0B |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61M | 537M | 660M | 494M | 189M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 8.1% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 320M | 427M | 479M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 20.5% |
| Stock-Based Comp | 4.5M | 13M | 21M | 15M | 8.9M | 7.2M | 6.9M | 6.2M | 16M | 31M | 35M | 48M | 49M |
| Debt Repayment | 0 | 260M | 230M | 91M | 96M | 90M | 25M | 125M | 589M | 100M | 1.4B | 2.2B | 2.2B |
| Balance Sheet | |||||||||||||
| Net Debt | 173M | 172M | 859M | 853M | 824M | 37M | 108M | 5.3M | 186M | -1.1B | 2.5B | 4.3B | 5.1B |
| Cash & Equiv. | 4.3M | 181M | 2.6M | 21M | 81M | 13M | 11M | 25M | 254M | 768M | 1.1B | 76M | 56M |
| Long-Term Debt | 158M | 509M | 841M | 872M | 0 | 50M | 80M | 0 | 400M | 393M | 4.8B | 4.5B | 5.1B |
| Debt/Equity | 0.31 | 0.81 | 1.17 | 4.28 | 51.70 | 0.06 | 0.13 | 0.03 | 0.09 | 0.08 | 0.77 | 0.68 | 0.77 |
| Interest Coverage | 18.8 | 6.7 | -1.0 | -15.9 | -2.1 | 43.2 | 26.3 | 22.0 | 27.0 | 52.4 | 6.5 | 3.4 | 3.4 |
| Equity | 579M | 656M | 740M | 209M | 19M | 864M | 937M | 1.0B | 4.7B | 5.4B | 6.2B | 6.6B | 6.7B |
| Total Assets | 1.0B | 1.5B | 2.0B | 1.3B | 1.1B | 1.1B | 1.2B | 1.2B | 6.7B | 8.0B | 14.1B | 14.9B | 15.1B |
| Total Liabilities | 424M | 890M | 1.3B | 1.1B | 1.1B | 198M | 270M | 138M | 2.1B | 2.6B | 7.9B | 8.3B | 8.4B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 59M | 128M | 149M | -597M | -796M | 163M | 230M | 334M | 451M | 1.2B | 1.2B | 1.5B | 2.0B |
| Working Capital | -47M | 89M | 10M | -16M | -958M | 35M | 5.8M | 18M | -400M | 151M | 293M | -1.2B | -750M |
| Current Assets | 55M | 264M | 208M | 120M | 112M | 135M | 111M | 92M | 720M | 1.3B | 2.1B | 988M | 945M |
| Current Liabilities | 103M | 175M | 198M | 136M | 1.1B | 99M | 105M | 74M | 1.1B | 1.2B | 1.9B | 2.2B | 1.7B |
| Per Share Data | |||||||||||||
| EPS | 1.17 | 1.71 | 0.49 | -15.57 | -4.04 | 2.72 | 1.08 | 1.65 | 0.71 | 14.58 | 9.02 | 8.46 | 7.03 |
| Owner EPS | 2.13 | 3.80 | 1.89 | -0.70 | -2.14 | 1.09 | 2.28 | 0.98 | 0.13 | 19.03 | 11.88 | 7.67 | 8.19 |
| Book Value | 14.55 | 16.21 | 17.88 | 4.37 | 0.39 | 13.97 | 15.08 | 16.66 | 18.35 | 62.78 | 71.09 | 66.86 | 78.38 |
| Cash Flow/Share | 3.96 | 7.59 | 7.92 | 4.72 | 0.30 | 1.89 | 3.62 | 2.53 | 1.08 | 28.94 | 25.75 | 28.90 | 30.78 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.24 | 6.29 | 7.60 | 4.97 | 2.21 |
| Shares Out. | 39.8M | 40.5M | 41.4M | 47.9M | 49.2M | 61.8M | 62.1M | 62.7M | 253.7M | 85.6M | 86.9M | 99.1M | 85.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.9 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.3 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.5 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Cap | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.3B |
| Avg. Price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 27.38 |
| Year-End Price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 27.38 |
CIVITAS RESOURCES, INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
The company's 5-year average ROIC is 12.7% with a gross margin of 38.5%. Total shareholder yield (dividends + buybacks) is 28.6%.
CIVITAS RESOURCES, INC. (CIVI) generated $2.9 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CIVITAS RESOURCES, INC. (CIVI) has a debt-to-equity ratio of 0.68. This indicates moderate leverage.
CIVITAS RESOURCES, INC. (CIVI) reported earnings per share (EPS) of $8.46 in its most recent fiscal year.
CIVITAS RESOURCES, INC. (CIVI) has a return on equity (ROE) of 13.1%. This indicates moderate shareholder returns.
CIVITAS RESOURCES, INC. (CIVI) has a 5-year average gross margin of 38.5%. This indicates decent pricing power.
The Ledger Terminal provides 13 years of financial data for CIVITAS RESOURCES, INC. (CIVI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CIVITAS RESOURCES, INC. (CIVI) has a book value per share of $66.86, based on its most recent annual SEC filing.