Is California Resources Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for California Resources Corp. has moved from fair to very attractive, indicating a positive shift in its perceived value. The company appears undervalued based on its current metrics, with a P/E ratio of 14, a Price to Book Value of 1.17, and an EV to EBITDA of 3.72. In comparison to peers, California Resources Corp. has a more favorable P/E ratio than Permian Resources Corp. at 9.23 and a significantly lower EV to EBITDA than National Fuel Gas Co. at 8.28, reinforcing its attractive valuation.
Despite the positive valuation metrics, California Resources Corp. has underperformed against the S&P 500, with a year-to-date return of -8.88% compared to the index's 13.30%. This underperformance highlights a potential disconnect between market perception and intrinsic value, suggesting that the stock may be a compelling investment opportunity at its current price of 47.28.