Crescent Energy Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Crescent Energy Co reported revenue of $3.6B (+22.1% year on year) and net income of $167.2M (+221.4% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenues | $3.6B | $2.9B | $2.4B | $3.1B |
| Lease and asset operating expense | $767.8M | $528.8M | $495.4M | $438.8M |
| Workover expense | $74.5M | $60.3M | $58.4M | $66.9M |
| Gathering, processing and transportation | $408.9M | — | — | — |
| Production and other taxes | $219.4M | $162.6M | $163.0M | $238.4M |
| Depreciation, depletion and amortization | $1.2B | $949.5M | $675.8M | $532.9M |
| Impairment expense | $254.6M | $161.5M | $153.5M | $142.9M |
| Exploration expense | $16.8M | $16.6M | $9.3M | $3.4M |
| Midstream and other operating expense | $116.9M | $110.1M | — | — |
| General and administrative expense | $472.2M | $336.2M | $140.9M | $85.0M |
| (Gain) loss on sale of assets | ($147.5M) | ($29.4M) | $0 | ($4.6M) |
| Total expenses | $3.4B | $2.7B | $2.1B | $1.8B |
| Income (loss) from operations | $229.3M | $218.5M | $324.7M | $1.3B |
| Gain (loss) on derivatives | $302.9M | ($114.3M) | $167.0M | ($676.9M) |
| Interest expense | ($298.4M) | ($216.3M) | ($145.8M) | ($95.9M) |
| Loss from extinguishment of debt | ($29.2M) | ($59.1M) | — | — |
| Other income (expense) | ($5.0M) | $1.8M | ($282.0K) | $949.0K |
| Income (loss) from equity affiliates | $2.2M | $729.0K | ($413.0K) | $4.6M |
| Total other income (expense) | ($27.6M) | ($387.2M) | $20.5M | ($767.3M) |
| Income (loss) before taxes | $201.7M | ($168.8M) | $345.2M | $516.9M |
| Income tax benefit (expense) | ($34.5M) | $31.1M | ($23.2M) | ($36.3M) |
| Net income (loss) | $167.2M | ($137.7M) | $322.0M | $480.6M |
| Less: net (income) loss attributable to noncontrolling interests | ($20.2M) | $1.2M | ($472.0K) | ($2.7M) |
| Less: net (income) loss attributable to redeemable noncontrolling interests | ($14.1M) | $21.9M | ($253.9M) | ($381.3M) |
| Net income (loss) attributable to Crescent Energy | $132.9M | ($114.6M) | $67.6M | $96.7M |
| Basic (in USD per share) | $0.55 | -$0.88 | $1.02 | $2.20 |
| Diluted (in USD per share) | $0.54 | -$0.88 | $1.02 | $2.20 |
| Basic (in shares) | 258.7M | 201.2M | 170.9M | 168.7M |
| Diluted (in shares) | 261.7M | 201.2M | 171.7M | 169.0M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total revenues | $1.4B | $1.2B | $866.6M | $898.0M |
| Lease and asset operating expense | $207.1M | $234.2M | $163.7M | $160.2M |
| Workover expense | $32.9M | $30.3M | $23.1M | $19.4M |
| Gathering, processing and transportation | $94.5M | $102.1M | — | — |
| Production and other taxes | $69.0M | $55.7M | $55.4M | $55.1M |
| Depreciation, depletion and amortization | $358.0M | $354.1M | $298.4M | $297.1M |
| Impairment of oil and natural gas properties | $0 | $0 | $73.5M | $3.0M |
| Exploration expense | $366.0K | $6.5M | $1.0M | $5.6M |
| Midstream and other operating expense | $4.2M | $6.7M | $27.8M | $29.0M |
| General and administrative expense | $61.5M | $62.8M | $74.3M | $124.6M |
| (Gain) loss on sale of assets | ($13.6M) | $2.9M | $1.6M | ($1.9M) |
| Total expenses | $814.0M | $855.3M | $835.8M | $818.3M |
| Income (loss) from operations | $581.0M | $327.5M | $30.8M | $79.6M |
| Gain (loss) on derivatives | $181.9M | ($706.6M) | $55.7M | $198.6M |
| Interest expense | ($99.8M) | ($104.6M) | ($72.6M) | ($75.2M) |
| Loss from extinguishment of debt | $0 | ($17.4M) | ($29.2M) | $0 |
| Other income (expense) | $471.0K | ($327.0K) | $209.0K | $115.0K |
| Income (loss) from equity affiliates | $107.0K | ($51.0K) | $864.0K | $439.0K |
| Total other income (expense) | $82.6M | ($828.9M) | ($45.1M) | $123.9M |
| Income (loss) before taxes | $663.6M | ($501.4M) | ($14.3M) | $203.6M |
| Income tax benefit (expense) | ($169.9M) | $82.3M | $4.0M | ($41.1M) |
| Net income (loss) | $493.7M | ($419.2M) | ($10.3M) | $162.5M |
| Less: net (income) loss attributable to noncontrolling interests | ($939.0K) | ($671.0K) | $762.0K | ($1.3M) |
| Less: net (income) loss attributable to redeemable noncontrolling interests | $0 | $0 | $0 | ($8.0M) |
| Net income (loss) attributable to Crescent Energy | $492.8M | ($419.8M) | ($9.5M) | $153.2M |
| Basic (in USD per share) | $1.49 | -$1.28 | -$0.04 | $0.61 |
| Diluted (in USD per share) | $1.30 | -$1.28 | -$0.04 | $0.60 |
| Basic (in shares) | 330.3M | 328.3M | 254.6M | 255.3M |
| Diluted (in shares) | 381.8M | 328.3M | 254.6M | 257.5M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $10.2M | $132.8M | $3.0M | $0 |
| Restricted cash | $725.7M | $5.5M | — | — |
| Accounts receivable, net | $742.8M | $542.3M | $506.7M | $457.1M |
| Derivative assets – current | $322.8M | $53.3M | $54.3M | $14.9M |
| Prepaid expenses | $46.3M | $42.6M | $40.4M | — |
| Other current assets | $13.3M | $11.6M | $11.2M | — |
| Total current assets | $1.9B | $788.1M | $615.7M | $516.7M |
| Proved | $13.3B | $11.5B | $8.6B | $7.1B |
| Unproved | $413.4M | $374.3M | $283.3M | $314.3M |
| Oil and natural gas properties at cost, successful efforts method | $13.7B | $11.8B | $8.9B | $7.4B |
| Field and other property and equipment, at cost | $157.0M | $226.9M | $198.6M | $176.8M |
| Total property, plant and equipment | $13.8B | $12.1B | $9.1B | $7.6B |
| Less: accumulated depreciation, depletion, amortization and impairment | ($3.6B) | ($3.9B) | ($2.9B) | ($2.2B) |
| Property, plant and equipment, net | $10.3B | $8.1B | $6.1B | $5.4B |
| Derivative assets – noncurrent | $2.8M | $6.7M | $8.1M | $0 |
| Investments in equity affiliates | $8.1M | $13.8M | $6.1M | $15.0M |
| Deferred tax asset | $143.7M | — | — | — |
| Other assets | $151.5M | $207.0M | $57.7M | $50.3M |
| TOTAL ASSETS | $12.4B | $9.2B | $6.8B | $6.0B |
| Accounts payable and accrued liabilities | $1.2B | $758.8M | $666.1M | $524.7M |
| Derivative liabilities – current | $0 | $2.7M | $42.1M | $313.0M |
| Financing lease obligations – current | $4.9M | $3.6M | $4.2M | $3.3M |
| Other current liabilities | $86.6M | $62.3M | $37.8M | $25.1M |
| Total current liabilities | $1.3B | $827.4M | $750.3M | $893.7M |
| Long-term debt | $5.5B | $3.0B | $1.7B | $1.2B |
| Derivative liabilities – noncurrent | $13.4M | $37.7M | $0 | $63.7M |
| Asset retirement obligations | $383.1M | $448.9M | $418.3M | $346.9M |
| Deferred tax liability | $11.7M | $370.3M | $262.6M | $147.3M |
| Financing lease obligations – noncurrent | $3.2M | $3.5M | $7.1M | $7.4M |
| Other liabilities | $82.8M | $55.5M | $35.0M | $14.2M |
| Total liabilities | $7.3B | $4.8B | $3.2B | $2.7B |
| Redeemable noncontrolling interests | $0 | $1.2B | $1.9B | $2.4B |
| Common stock | $33.0K | $26.0K | $18.0K | $17.0K |
| Preferred stock, $0.0001 par value; 500,000,000 shares authorized and 1,000 Series I preferred shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | 0 |
| Treasury stock, at cost; 7,079,021 and 2,434,484 shares of Class A common stock as of December 31, 2025 and 2024, respectively | -71.1M | -32.4M | -17.1M | -18.4M |
| Additional paid-in capital | $5.2B | $3.2B | $1.6B | $804.6M |
| Retained earnings (accumulated deficit) | $0 | ($64.8M) | $95.4M | $62.0M |
| Noncontrolling interests | $7.5M | $9.3M | $29.7M | $14.2M |
| Total equity | $5.2B | $3.1B | $1.7B | $862.3M |
| TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $12.4B | $9.2B | $6.8B | $6.0B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $264.9M | $9.8M | $3.5M | $3.1M |
| Restricted cash | $5.5M | $5.4M | $5.3M | $3.8M |
| Accounts receivable, net | $668.8M | $787.9M | $524.6M | $596.3M |
| Derivative assets – current | $53.8M | $11.5M | $106.7M | $97.7M |
| Prepaid expenses | $49.6M | $51.5M | $44.9M | $41.7M |
| Other current assets | $60.0M | $30.3M | $17.6M | $10.7M |
| Total current assets | $1.1B | $896.4M | $702.7M | $753.3M |
| Proved | $14.1B | $13.8B | $13.0B | $12.8B |
| Unproved | $567.2M | $572.5M | $376.4M | $381.5M |
| Oil and natural gas properties at cost, successful efforts method | $14.7B | $14.4B | $13.4B | $13.1B |
| Field and other property and equipment, at cost | $177.1M | $172.7M | $233.0M | $231.0M |
| Total property, plant and equipment | $14.9B | $14.6B | $13.6B | $13.4B |
| Less: accumulated depreciation, depletion, amortization and impairment | ($4.2B) | ($3.9B) | ($4.7B) | ($4.4B) |
| Property, plant and equipment, net | $10.6B | $10.7B | $8.9B | $9.0B |
| Derivative assets – noncurrent | $22.0M | $15.6M | $2.7M | $2.4M |
| Investments in equity affiliates | $9.1M | $9.0M | $13.8M | $13.2M |
| Deferred tax asset | $73.1M | $234.0M | — | — |
| Other assets | $170.2M | $164.0M | $107.6M | $107.5M |
| TOTAL ASSETS | $12.0B | $12.0B | $9.7B | $9.9B |
| Accounts payable and accrued liabilities | $998.0M | $1.1B | $788.4M | $779.0M |
| Derivative liabilities – current | $28.3M | $314.6M | $6.7M | $6.2M |
| Financing lease obligations – current | $4.2M | $4.6M | $3.6M | $3.9M |
| Other current liabilities | $136.8M | $137.2M | $65.4M | $62.5M |
| Total current liabilities | $1.2B | $1.6B | $864.2M | $851.6M |
| Long-term debt | $5.2B | $5.2B | $3.2B | $3.4B |
| Derivative liabilities – noncurrent | $9.9M | $42.7M | $13.8M | $21.7M |
| Asset retirement obligations | $379.9M | $378.8M | $483.6M | $479.7M |
| Deferred tax liability | $15.1M | $6.7M | $564.4M | $553.8M |
| Financing lease obligations – noncurrent | $1.4M | $2.3M | $1.5M | $2.3M |
| Other liabilities | $109.1M | $75.1M | $66.4M | $75.3M |
| Total liabilities | $6.8B | $7.3B | $5.2B | $5.4B |
| Common stock | $33.0K | $33.0K | $26.0K | $26.0K |
| Preferred stock, $0.0001 par value; 500,000,000 shares authorized and 1,000 Series I preferred shares issued and outstanding as of June 30, 2026 and December 31, 2025 | 0 | 0 | 0 | 0 |
| Treasury stock, at cost; 7,190,582 and 7,079,021 shares of Class A common stock as of June 30, 2026 and December 31, 2025, respectively | -72.4M | -71.1M | -66.3M | -66.3M |
| Additional paid-in capital | $5.2B | $5.2B | $4.5B | $4.5B |
| Retained earnings (accumulated deficit) | $33.3M | ($419.8M) | $15.7M | $55.8M |
| Noncontrolling interests | $7.6M | $7.4M | $8.3M | $10.9M |
| Total equity | $5.2B | $4.7B | $4.5B | $4.5B |
| TOTAL LIABILITIES AND EQUITY | $12.0B | $12.0B | $9.7B | $9.9B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $167.2M | ($137.7M) | $322.0M | $480.6M |
| Depreciation, depletion and amortization | $1.2B | $949.5M | $675.8M | $532.9M |
| Impairment expense | $254.6M | $161.5M | $153.5M | $142.9M |
| Deferred income tax expense (benefit) | $35.7M | ($35.9M) | $22.7M | $33.2M |
| (Gain) loss on sale of assets | ($147.5M) | ($29.4M) | — | — |
| (Gain) loss on derivatives | ($302.9M) | $114.3M | ($167.0M) | $676.9M |
| Net cash (paid) received on settlement of derivatives | $81.6M | ($35.9M) | ($153.7M) | ($779.3M) |
| Non-cash equity-based compensation expense | $245.5M | $185.6M | $82.9M | $38.1M |
| Amortization of debt issuance costs, premium and discount | $14.5M | $13.4M | $12.8M | $8.9M |
| Loss from debt extinguishment | $29.2M | $59.1M | — | — |
| Settlement of acquired derivative contracts | $83.1M | $60.8M | ($61.5M) | ($49.9M) |
| Other | ($29.2M) | ($32.6M) | ($24.2M) | ($7.0M) |
| Accounts receivable | $69.3M | $111.4M | ($42.1M) | ($128.8M) |
| Accounts receivable – affiliates | $2.4M | ($4.7M) | $573.0K | $18.4M |
| Prepaid and other current assets | $12.5M | $3.2M | ($6.5M) | ($24.9M) |
| Accounts payable and accrued liabilities | ($32.0M) | ($128.0M) | $91.8M | $127.6M |
| Accounts payable – affiliates | $32.5M | ($25.1M) | $20.8M | $12.0M |
| Other | ($3.2M) | ($6.4M) | $7.8M | ($12.5M) |
| Net cash provided by operating activities | $1.7B | $1.2B | $935.8M | $1.0B |
| Development of oil and natural gas properties | ($951.0M) | ($685.7M) | ($581.4M) | ($592.7M) |
| Acquisitions of oil and natural gas properties, net of cash acquired | ($818.9M) | ($558.6M) | ($849.3M) | ($626.6M) |
| Proceeds from the sale of oil and natural gas properties | $847.1M | $54.8M | $28.9M | $93.2M |
| Purchases of restricted investment securities – HTM | ($23.4M) | ($7.1M) | ($12.4M) | ($9.0M) |
| Maturities of restricted investment securities – HTM | $23.4M | $7.2M | $12.5M | $7.2M |
| Other | $0 | ($8.9M) | $2.8M | $3.5M |
| Net cash used in investing activities | ($922.7M) | ($1.2B) | ($1.4B) | ($1.1B) |
| Proceeds from the issuance of Senior Notes, after premium, discount and underwriting fees | $591.8M | $2.1B | $984.6M | $199.3M |
| Repurchase of Senior Notes, including extinguishment costs | ($522.4M) | ($714.8M) | — | — |
| Revolving Credit Facility borrowings | $4.6B | $3.2B | $2.3B | $1.4B |
| Revolving Credit Facility repayments | ($3.8B) | ($3.2B) | ($2.8B) | ($1.4B) |
| Payment of debt issuance costs | ($9.7M) | ($28.0M) | ($7.2M) | ($20.1M) |
| Settlement of acquired deferred acquisition consideration | $0 | ($75.0M) | — | — |
| Proceeds from the Equity Issuances after underwriting fees | $0 | $330.6M | $145.7M | — |
| Payment of costs related to the Equity Issuances | $0 | ($1.3M) | ($2.3M) | — |
| Redeemable noncontrolling interest contributions | $0 | $0 | $1.2M | $6.0M |
| Redeemable noncontrolling interest distributions | $0 | ($293.0K) | ($417.0K) | ($213.0K) |
| Repayments of debt acquired in Merger, including extinguishment costs | ($890.0M) | ($1.2B) | — | — |
| Dividend to Class A common stock | ($115.1M) | ($65.1M) | ($34.1M) | ($27.5M) |
| Cash distributions to redeemable noncontrolling interests initiated by Class A common stock dividend | ($7.6M) | ($32.0M) | ($56.3M) | ($78.9M) |
| Cash distributions to redeemable noncontrolling interests initiated by Manager Compensation | ($8.8M) | ($22.2M) | ($33.2M) | ($32.3M) |
| Cash distributions to redeemable noncontrolling interests initiated by income taxes | ($1.1M) | ($458.0K) | — | — |
| Repurchase of redeemable noncontrolling interests related to 2024 Equity Transactions | $0 | ($32.6M) | $0 | ($36.2M) |
| Noncontrolling interest distributions | ($8.4M) | ($10.1M) | ($2.5M) | ($6.5M) |
| Noncontrolling interest contributions | $0 | $4.3M | $1.8M | $55.0K |
| Cash paid for treasury stock acquired for equity-based compensation tax withholding | ($5.2M) | ($7.5M) | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income (loss) | $74.5M | ($419.2M) | $158.1M | $168.4M |
| Depreciation, depletion and amortization | $712.1M | $354.1M | $878.1M | $579.6M |
| Impairment expense | $0 | $0 | $122.2M | $48.6M |
| Deferred tax expense (benefit) | $86.5M | ($82.9M) | $36.8M | $26.2M |
| (Gain) loss on derivatives | $524.7M | $706.6M | ($163.3M) | ($107.6M) |
| Net cash (paid) received on settlement of derivatives | ($343.2M) | ($106.0M) | $31.0M | $9.2M |
| Non-cash equity-based compensation expense | $44.7M | $23.4M | $143.3M | $119.5M |
| Amortization of debt issuance costs, premium and discount | $8.2M | $4.0M | $11.2M | $7.5M |
| Loss from debt extinguishment | $17.4M | $17.4M | $29.2M | $0 |
| (Gain) loss on sale of oil and natural gas properties | ($10.7M) | $2.9M | ($11.1M) | ($12.8M) |
| Settlement of acquired derivative contracts | $122.6M | $60.6M | $49.6M | $34.9M |
| Other | ($13.4M) | ($9.5M) | ($28.2M) | ($15.8M) |
| Changes in operating assets and liabilities | ($107.6M) | ($142.3M) | ($684.0K) | ($2.1M) |
| Net cash provided by operating activities | $1.1B | $409.2M | $1.3B | $836.1M |
| Development of oil and natural gas properties | ($651.3M) | ($320.4M) | ($691.4M) | ($476.1M) |
| Acquisitions of oil and natural gas properties, net of cash acquired | ($354.4M) | ($351.8M) | ($942.5M) | ($884.4M) |
| Proceeds from the sale of oil and natural gas properties | $12.8M | $1.2M | $114.8M | $91.4M |
| Purchases of restricted investment securities – HTM | ($14.5M) | ($7.2M) | ($16.2M) | ($9.0M) |
| Maturities of restricted investment securities – HTM | $14.6M | $7.3M | $16.2M | $8.9M |
| Other | ($10.7M) | ($10.7M) | $0 | $0 |
| Net cash used in investing activities | ($1.0B) | ($681.7M) | ($1.5B) | ($1.3B) |
| Proceeds from the issuance of Senior Notes, after premium, discount and underwriting fees | $671.0M | $671.0M | $591.8M | $0 |
| 2031 Convertible Notes capped call | ($56.6M) | ($56.6M) | — | — |
| Repurchase of Senior Notes, including extinguishment costs | ($551.3M) | ($551.3M) | ($522.4M) | $0 |
| Revolving Credit Facility borrowings | $2.5B | $1.4B | $2.7B | $1.8B |
| Revolving Credit Facility repayments | ($3.0B) | ($2.0B) | ($2.7B) | ($1.5B) |
| Proceeds from issuance of CRF Term Loan | $135.0M | $135.0M | — | — |
| Repayments of CRF Term Loan | ($89.5M) | ($15.5M) | — | — |
| Payment of debt issuance costs | ($9.7M) | ($6.4M) | ($6.3M) | ($1.8M) |
| Settlement of Ridgemar contingent earn-out consideration | ($18.7M) | ($9.5M) | — | — |
| Dividends | ($79.0M) | ($39.3M) | ($84.6M) | ($54.0M) |
| Distributions to redeemable noncontrolling interests | $0 | $0 | — | — |
| Repurchase of noncontrolling interest | ($32.2M) | ($32.2M) | — | — |
| Noncontrolling interest distributions | ($1.5M) | ($757.0K) | ($4.2M) | ($2.1M) |
| Cash paid for treasury stock acquired for equity-based compensation tax withholding | ($1.4M) | ($8.0K) | ($58.0K) | — |
| Repurchases of Class A common stock | $0 | $0 | ($33.8M) | ($33.8M) |
| Other | $0 | — | ($2.8M) | ($1.9M) |
| Net cash provided by (used in) financing activities | ($576.5M) | ($448.2M) | ($7.6M) | $213.4M |
| Net change in cash, cash equivalents and restricted cash | ($464.2M) | ($720.7M) | ($217.5M) | ($219.7M) |
| Cash, cash equivalents and restricted cash, beginning of period | $753.3M | $753.3M | $240.9M | $240.9M |
| Cash, cash equivalents and restricted cash, end of period | $289.1M | $32.6M | $23.5M | $21.3M |
Crescent Energy Co score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.