Comstock Resources, Inc. (CRK) 10-Year Financial Performance & Capital Metrics

CRK •

EnergyOil & Gas E&PU.S. natural gas shale producers

AboutComstock Resources, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves. It also owns interests in 2,557 producing oil and natural gas wells. The company was incorporated in 1919 and is headquartered in Frisco, Texas.Show more

Revenue $1.25B -19.9%
EBITDA $627M -24.9%
Net Income -$219M -203.2%
EPS (Diluted) -0.76 -200.0%
Gross Margin -10.37% -161.0%
EBITDA Margin 50% -6.2%
Operating Margin -13.45% -192.9%
Net Margin -17.45% -228.9%
ROE -9.28% -202.0%
ROIC -2.42% -168.1%
Debt/Equity 1.30 +13.9%
Interest Coverage -0.80 -159.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.9%
✓Strong 5Y sales CAGR of 10.3%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Thin 5Y average net margin of 1.7%
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.48%

5Y10.28%

3Y-12.18%

TTM77.31%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM280.85%

EPS CAGR

10Y-

5Y-

3Y-

TTM275.62%

ROCE

10Y Avg-0.56%

5Y Avg15.52%

3Y Avg17.4%

Latest-2.97%

Peer Comparison

U.S. natural gas shale producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPSNEpsilon Energy Ltd.	112.94M	5.12	58.25	2.58%	12.86%	5.87%		0.00
ARAntero Resources Corporation	11.35B	36.81	18.13	28.09%	11.13%	7.29%	14.37%	0.46
EQTEQT Corporation	38.33B	61.42	16.16	65.53%	23.59%	7.45%	7.4%	0.29
BKVBKV Corporation	2.82B	31.33	16.07	48.16%	19.75%	8.35%		0.24
RRCRange Resources Corporation	9.78B	41.28	15.07	32.75%	9.58%	15.24%	6.03%	0.29
EXEExpand Energy Corporation	25.7B	107.92	14.26	187.23%	15.01%	9.79%	7.15%
CNXCNX Resources Corporation	5.95B	41.78	10.50	59.19%	28.03%	14.6%	8.98%	0.57
INRInfinity Natural Resources, Inc.	751.12B	16.60	4.46	60.16%	-0.58%	-0.2%		0.51

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	252.42M	175.71M	255.33M	255.33M	768.69M	858.2M	1.85B	3.63B	1.57B	1.25B
Revenue Growth %	-54.54%	-30.39%	45.32%	0%	201.06%	11.64%	115.65%	96.03%	-56.86%	-19.9%
Cost of Goods Sold+	410.41M	209.94M	184.33M	82.91M	464.29M	663.11M	752.94M	1.3B	1.3B	1.38B
COGS % of Revenue	162.59%	119.48%	72.19%	32.47%	60.4%	77.27%	40.68%	35.81%	82.99%	110.37%
Gross Profit+	-157.99M	-34.23M	71M	172.42M	304.4M	195.08M	1.1B	2.33B	266.24M	-130.06M
Gross Margin %	-62.59%	-19.48%	27.81%	67.53%	39.6%	22.73%	59.32%	64.19%	17.01%	-10.37%
Gross Profit Growth %	-297.54%	78.33%	307.41%	142.83%	76.54%	-35.91%	462.73%	112.14%	-88.57%	-148.85%
Operating Expenses+	94.23M	108.11M	26.14M	172.6M	29.51M	32.05M	197.02M	47.35M	39.64M	38.56M
OpEx % of Revenue	37.33%	61.53%	10.24%	67.6%	3.84%	3.73%	10.65%	1.31%	2.53%	3.08%
Selling, General & Admin	23.54M	23.96M	26.14M	26.14M	29.24M	32.04M	34.94M	39.41M	37.99M	39.44M
SG&A % of Revenue	9.33%	13.64%	10.24%	10.24%	3.8%	3.73%	1.89%	1.09%	2.43%	3.15%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.27M	872K	0	146.47M	266K	10K	162.08M	7.95M	1.65M	-875K
Operating Income+	-1.17B	-183.79M	-183K	-183K	274.89M	163.03M	900.77M	2.28B	226.6M	-168.62M
Operating Margin %	-461.79%	-104.6%	-0.07%	-0.07%	35.76%	19%	48.67%	62.88%	14.48%	-13.45%
Operating Income Growth %	-3534.6%	84.23%	99.9%	0%	150310.93%	-40.69%	452.51%	153.28%	-90.07%	-174.41%
EBITDA+	-844.33M	-42.3M	123.37M	121.79M	551.41M	580.14M	1.37B	2.77B	834.5M	626.78M
EBITDA Margin %	-334.49%	-24.08%	48.32%	47.7%	71.73%	67.6%	74.03%	76.38%	53.32%	50%
EBITDA Growth %	-343.88%	94.99%	391.64%	-1.28%	352.75%	5.21%	136.18%	102.23%	-69.88%	-24.89%
D&A (Non-Cash Add-back)	321.32M	141.49M	123.56M	121.98M	276.53M	417.11M	469.39M	489.45M	607.91M	795.4M
EBIT	-1.08B	778K	17.1M	136.18M	286.23M	173.2M	-11.84M	1.57B	416.01M	-157.21M
Net Interest Income+	-118.59M	-128.74M	-146.45M	144.81M	-161.54M	-234.83M	-218.49M	-171.09M	-169.02M	-210.62M
Interest Income	0	0	0	144.81M	0	0	0	0	0	0
Interest Expense	118.59M	128.74M	146.45M	0	161.54M	234.83M	218.49M	171.09M	169.02M	210.62M
Other Income/Expense	-154.44M	55.83M	-129.17M	-170.76M	-150.19M	-224.66M	-1.13B	-879.54M	20.39M	-199.21M
Pretax Income+	-1.2B	-127.97M	-129.35M	-129.35M	124.69M	-61.63M	-230.32M	1.4B	246.99M	-367.83M
Pretax Margin %	-476.01%	-72.83%	-50.66%	-50.66%	16.22%	-7.18%	-12.44%	38.64%	15.78%	-29.34%
Income Tax+	-154.44M	7.17M	-17.94M	17.94M	27.8M	-9.21M	11.4M	261.06M	35.09M	-149.07M
Effective Tax Rate %	87.15%	105.6%	86.13%	86.13%	77.7%	85.06%	104.95%	81.38%	85.79%	59.47%
Net Income+	-1.05B	-135.13M	-111.41M	-111.41M	96.89M	-52.42M	-241.72M	1.14B	211.89M	-218.75M
Net Margin %	-414.82%	-76.91%	-43.63%	-43.63%	12.6%	-6.11%	-13.06%	31.45%	13.54%	-17.45%
Net Income Growth %	-1733.46%	87.09%	17.56%	0%	186.97%	-154.1%	-361.16%	571.98%	-81.43%	-203.24%
Net Income (Continuing)	-1.05B	-135.13M	-111.41M	-28.63M	96.89M	-52.42M	-241.72M	1.14B	211.89M	-218.75M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	24.78M	92.52M
EPS (Diluted)+	-113.53	-11.52	-7.61	-0.27	0.52	-0.39	-1.12	4.11	0.76	-0.76
EPS Growth %	-1752.04%	89.85%	33.94%	96.45%	292.59%	-175%	-187.18%	466.96%	-81.51%	-200%
EPS (Basic)	-113.54	-11.52	-7.61	-0.27	0.52	-0.39	-1.12	4.75	0.76	-0.76
Diluted Shares Outstanding	9.22M	11.73M	14.64M	105.46M	187.38M	215.19M	231.63M	277.46M	276.81M	287.01M
Basic Shares Outstanding	9.22M	11.73M	14.64M	105.46M	142.75M	215.19M	231.63M	236.04M	276.81M	287.01M
Dividend Payout Ratio	-	-	-	-	-	-	-	3.04%	65.59%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	156.24M	90.17M	302.5M	159.43M	289.69M	199.81M	318.74M	644.99M	461.49M	284.03M
Cash & Short-Term Investments	134.01M	65.9M	61.26M	23.19M	18.53M	30.27M	30.66M	54.65M	16.67M	6.8M
Cash Only	134.01M	65.9M	61.26M	23.19M	18.53M	30.27M	30.66M	54.65M	16.67M	6.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	18.79M	22.44M	39.98M	108.46M	185.45M	145.79M	275.62M	524.4M	245.49M	211.87M
Days Sales Outstanding	27.17	46.62	57.15	155.04	88.06	62	54.36	52.76	57.25	61.69
Inventory	1.2M	1.18M	998K	15.4M	0	0	5.01M	34.82M	0	0
Days Inventory Outstanding	1.07	2.06	1.98	67.8	-	-	2.43	9.78	-	-
Other Current Assets	2.24M	641K	200.27M	17.53M	85.7M	23.75M	5.26M	-10.42M	126.78M	4.87M
Total Non-Current Assets+	1.04B	799.7M	627.91M	2.03B	4.37B	4.54B	4.35B	5.05B	5.79B	6.1B
Property, Plant & Equipment	1.04B	798.66M	607.93M	1.67B	4.01B	4.09B	4.01B	4.71B	5.46B	5.76B
Fixed Asset Turnover	0.24x	0.22x	0.42x	0.15x	0.19x	0.21x	0.46x	0.77x	0.29x	0.22x
Goodwill	0	0	0	350.21M	335.9M	335.9M	335.9M	335.9M	335.9M	335.9M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	19.09M	-151.7M	19M	661K	0	0	0	0
Other Non-Current Assets	-773K	-8.09M	9.72M	2K	231K	40K	0	0	0	0
Total Assets+	1.2B	889.87M	930.42M	2.19B	4.66B	4.74B	4.67B	5.69B	6.25B	6.38B
Asset Turnover	0.21x	0.20x	0.27x	0.12x	0.17x	0.18x	0.40x	0.64x	0.25x	0.20x
Asset Growth %	-47.42%	-25.59%	4.56%	135.15%	112.86%	1.83%	-1.57%	21.98%	9.82%	2.05%
Total Current Liabilities+	95.72M	91.71M	168.49M	206.85M	392.38M	441.59M	633.98M	756.14M	681.49M	612.85M
Accounts Payable	57.28M	45.31M	126.03M	138.77M	252.99M	259.28M	314.57M	530.2M	523.26M	421.81M
Days Payables Outstanding	50.94	78.78	249.57	610.91	198.89	142.72	152.49	148.95	147.04	111.27
Short-Term Debt	0	0	0	0	1.99M	2.28M	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	107K	40.1M	35.94M	59.91M	128.74M	172.5M	194.26M	15.73M	6.7M	23.02M
Current Ratio	1.63x	0.98x	1.80x	0.77x	0.74x	0.45x	0.50x	0.85x	0.68x	0.46x
Quick Ratio	1.62x	0.97x	1.79x	0.70x	0.74x	0.45x	0.49x	0.81x	0.68x	0.46x
Cash Conversion Cycle	-22.7	-30.1	-190.44	-388.07	-	-	-95.71	-86.41	-	-
Total Non-Current Liabilities+	1.27B	1.07B	1.13B	1.41B	3.12B	2.86B	2.85B	2.66B	3.19B	3.44B
Long-Term Debt	1.25B	1.04B	1.11B	1.24B	2.88B	2.52B	2.62B	2.15B	2.64B	2.95B
Capital Lease Obligations	0	0	0	0	1.51M	740K	4.08M	52.38M	47.74M	37.74M
Deferred Tax Liabilities	1.97M	9.13M	10.27M	161.92M	211.77M	319.15M	197.42M	425.73M	470.04M	345.12M
Other Non-Current Liabilities	20.09M	15.8M	10.41M	5.14M	28.72M	22.15M	29.74M	29.11M	30.77M	100.75M
Total Liabilities	1.37B	1.16B	930.42M	1.62B	3.51B	3.3B	3.48B	3.42B	3.87B	4.05B
Total Debt+	1.25B	1.04B	1.11B	1.25B	2.88B	2.52B	2.62B	2.25B	2.71B	3.03B
Net Debt	1.12B	978.6M	1.05B	1.22B	2.86B	2.49B	2.59B	2.19B	2.7B	3.02B
Debt / Equity	-	-	-	2.19x	2.52x	1.75x	2.21x	0.99x	1.14x	1.30x
Debt / EBITDA	-	-	9.00x	10.23x	5.23x	4.34x	1.91x	0.81x	3.25x	4.83x
Net Debt / EBITDA	-	-	8.50x	10.04x	5.20x	4.29x	1.89x	0.79x	3.23x	4.82x
Interest Coverage	-9.83x	-1.43x	-0.00x	-	1.70x	0.69x	4.12x	13.33x	1.34x	-0.80x
Total Equity+	-171.26M	-271.27M	-369.27M	569.57M	1.14B	1.44B	1.19B	2.28B	2.38B	2.33B
Equity Growth %	-119.68%	-58.4%	-36.13%	254.24%	100.68%	26.14%	-17.62%	91.81%	4.6%	-2.08%
Book Value per Share	-18.57	-23.13	-25.22	5.40	6.10	6.70	5.13	8.21	8.61	8.13
Total Shareholders' Equity	-171.26M	-271.27M	-369.27M	569.57M	1.14B	1.44B	1.19B	2.28B	2.36B	2.24B
Common Stock	4.77M	6.97M	7.71M	52.94M	95M	116.21M	116.46M	138.76M	139.21M	146.13M
Retained Earnings	-680.7M	-815.83M	-369.27M	64.12M	138.6M	55.18M	-204.04M	886.14M	958.27M	728.62M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.4B	-3.02B	-2.04B	-210.56M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	24.78M	92.52M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	30.09M	-23.73M	174.61M	188.04M	451.24M	575.7M	859M	1.7B	1.02B	620.34M
Operating CF Margin %	11.92%	-13.5%	68.39%	73.64%	58.7%	67.08%	46.41%	46.81%	64.97%	49.49%
Operating CF Growth %	-92.5%	-178.87%	835.9%	7.69%	139.97%	27.58%	49.21%	97.72%	-40.13%	-38.99%
Net Income	-1.05B	-135.13M	-111.41M	-28.63M	96.53M	-52.42M	-241.72M	1.14B	211.89M	-218.75M
Depreciation & Amortization	1.16B	79.22M	161.26M	121.98M	276.53M	451.18M	469.39M	489.45M	607.91M	795.4M
Stock-Based Compensation	8.15M	4.66M	5.92M	4.91M	0	6.46M	6.8M	6.61M	9.87M	15.26M
Deferred Taxes	-155.25M	7.11M	-18.08M	30.13M	28.03M	0	-3.56M	228.32M	44.3M	-124.92M
Other Non-Cash Items	77.07M	35.93M	73.95M	333.14M	21.62M	128.9M	677.31M	-143.44M	-99.47M	208.21M
Working Capital Changes	-8.15M	-15.51M	62.96M	-18.41M	28.53M	41.57M	-49.2M	-23.43M	242.35M	-54.86M
Change in Receivables	30.25M	-3.65M	-16.13M	-58.21M	3.22M	34.55M	-121.95M	-242.39M	278.7M	56.58M
Change in Inventory	0	0	0	-147.31M	0	0	0	0	0	0
Change in Payables	-46.52M	-12.03M	80.01M	51.99M	15.48M	0	74.78M	229.25M	0	-88.55M
Cash from Investing+	-161.72M	-29.57M	-178.95M	-211.84M	-1.17B	-511.2M	-550.82M	-1.1B	-1.42B	-1.08B
Capital Expenditures	-264.21M	-57.42M	-180.48M	-319.89M	-486.78M	-511.49M	-689.21M	-1.07B	-1.43B	-1.1B
CapEx % of Revenue	104.67%	32.68%	70.69%	125.29%	63.33%	59.6%	37.24%	29.43%	91.05%	87.55%
Acquisitions	102.48M	27.86M	1.53M	117.39M	-693.39M	0	138.39M	4.19M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	102.48M	27.86M	1.53M	-9.34M	9.34M	287K	0	-34.07M	7.29M	13.2M
Cash from Financing+	263.57M	-14.8M	-310K	-14.26M	714.94M	-52.76M	-307.8M	-576.72M	362.97M	454.07M
Debt Issued (Net)	282.35M	-3.4M	0	-49.93M	791.38M	1.5M	-288.89M	-519.76M	480M	307M
Equity Issued (Net)	0	0	0	1000K	1000K	-692K	0	0	0	1000K
Dividends Paid	0	0	0	0	-17.83M	-25.58M	-17.5M	-50.7M	-138.99M	0
Share Repurchases	0	-313K	-312K	-5.06M	0	-692K	0	-6.25M	0	0
Other Financing	-18.77M	-11.41M	-310K	-5.06M	-533.61M	-27.99M	-1.41M	-6.25M	21.96M	46.62M
Net Change in Cash	131.94M	-68.1M	-4.65M	-38.06M	-4.66M	11.74M	391K	23.99M	-37.98M	-9.87M
Free Cash Flow+	-234.12M	-81.15M	-5.87M	-131.85M	-35.54M	64.22M	169.79M	630.59M	-408.24M	-477.14M
FCF Margin %	-92.75%	-46.19%	-2.3%	-51.64%	-4.62%	7.48%	9.17%	17.38%	-26.08%	-38.06%
FCF Growth %	-0.14%	65.34%	92.77%	-2147.4%	73.04%	280.67%	164.41%	271.38%	-164.74%	-16.88%
FCF per Share	-25.38	-6.92	-0.40	-1.25	-0.19	0.30	0.73	2.27	-1.47	-1.66
FCF Conversion (FCF/Net Income)	-0.03x	0.18x	-1.57x	-1.69x	4.66x	-10.98x	-3.55x	1.49x	4.80x	-2.84x
Interest Paid	0	0	0	0	0	228.56M	0	166.28M	161.01M	190.02M
Taxes Paid	0	0	0	0	0	0	0	16.52M	29.78M	37K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-299.6%	-	-	-111.24%	11.31%	-4.06%	-18.39%	65.83%	9.09%	-9.28%
Return on Invested Capital (ROIC)	-60.65%	-16.69%	-0.02%	-0.01%	7.11%	3.08%	17.52%	41.48%	3.56%	-2.42%
Gross Margin	-62.59%	-19.48%	27.81%	67.53%	39.6%	22.73%	59.32%	64.19%	17.01%	-10.37%
Net Margin	-414.82%	-76.91%	-43.63%	-43.63%	12.6%	-6.11%	-13.06%	31.45%	13.54%	-17.45%
Debt / Equity	-	-	-	2.19x	2.52x	1.75x	2.21x	0.99x	1.14x	1.30x
Interest Coverage	-9.83x	-1.43x	-0.00x	-	1.70x	0.69x	4.12x	13.33x	1.34x	-0.80x
FCF Conversion	-0.03x	0.18x	-1.57x	-1.69x	4.66x	-10.98x	-3.55x	1.49x	4.80x	-2.84x
Revenue Growth	-54.54%	-30.39%	45.32%	0%	201.06%	11.64%	115.65%	96.03%	-56.86%	-19.9%

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Comstock Resources, Inc. (CRK) 10-Year Financial Performance & Capital Metrics

CRK •

EnergyOil & Gas E&PU.S. natural gas shale producers

Revenue $1.25B -19.9%
EBITDA $627M -24.9%
Net Income -$219M -203.2%
EPS (Diluted) -0.76 -200.0%
Gross Margin -10.37% -161.0%
EBITDA Margin 50% -6.2%
Operating Margin -13.45% -192.9%
Net Margin -17.45% -228.9%
ROE -9.28% -202.0%
ROIC -2.42% -168.1%
Debt/Equity 1.30 +13.9%
Interest Coverage -0.80 -159.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.9%
✓Strong 5Y sales CAGR of 10.3%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Thin 5Y average net margin of 1.7%
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.48%

5Y10.28%

3Y-12.18%

TTM77.31%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM280.85%

EPS CAGR

10Y-

5Y-

3Y-

TTM275.62%

ROCE

10Y Avg-0.56%

5Y Avg15.52%

3Y Avg17.4%

Latest-2.97%

Peer Comparison

U.S. natural gas shale producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPSNEpsilon Energy Ltd.	112.94M	5.12	58.25	2.58%	12.86%	5.87%		0.00
ARAntero Resources Corporation	11.35B	36.81	18.13	28.09%	11.13%	7.29%	14.37%	0.46
EQTEQT Corporation	38.33B	61.42	16.16	65.53%	23.59%	7.45%	7.4%	0.29
BKVBKV Corporation	2.82B	31.33	16.07	48.16%	19.75%	8.35%		0.24
RRCRange Resources Corporation	9.78B	41.28	15.07	32.75%	9.58%	15.24%	6.03%	0.29
EXEExpand Energy Corporation	25.7B	107.92	14.26	187.23%	15.01%	9.79%	7.15%
CNXCNX Resources Corporation	5.95B	41.78	10.50	59.19%	28.03%	14.6%	8.98%	0.57
INRInfinity Natural Resources, Inc.	751.12B	16.60	4.46	60.16%	-0.58%	-0.2%		0.51

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	252.42M	175.71M	255.33M	255.33M	768.69M	858.2M	1.85B	3.63B	1.57B	1.25B
Revenue Growth %	-54.54%	-30.39%	45.32%	0%	201.06%	11.64%	115.65%	96.03%	-56.86%	-19.9%
Cost of Goods Sold+	410.41M	209.94M	184.33M	82.91M	464.29M	663.11M	752.94M	1.3B	1.3B	1.38B
COGS % of Revenue	162.59%	119.48%	72.19%	32.47%	60.4%	77.27%	40.68%	35.81%	82.99%	110.37%
Gross Profit+	-157.99M	-34.23M	71M	172.42M	304.4M	195.08M	1.1B	2.33B	266.24M	-130.06M
Gross Margin %	-62.59%	-19.48%	27.81%	67.53%	39.6%	22.73%	59.32%	64.19%	17.01%	-10.37%
Gross Profit Growth %	-297.54%	78.33%	307.41%	142.83%	76.54%	-35.91%	462.73%	112.14%	-88.57%	-148.85%
Operating Expenses+	94.23M	108.11M	26.14M	172.6M	29.51M	32.05M	197.02M	47.35M	39.64M	38.56M
OpEx % of Revenue	37.33%	61.53%	10.24%	67.6%	3.84%	3.73%	10.65%	1.31%	2.53%	3.08%
Selling, General & Admin	23.54M	23.96M	26.14M	26.14M	29.24M	32.04M	34.94M	39.41M	37.99M	39.44M
SG&A % of Revenue	9.33%	13.64%	10.24%	10.24%	3.8%	3.73%	1.89%	1.09%	2.43%	3.15%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.27M	872K	0	146.47M	266K	10K	162.08M	7.95M	1.65M	-875K
Operating Income+	-1.17B	-183.79M	-183K	-183K	274.89M	163.03M	900.77M	2.28B	226.6M	-168.62M
Operating Margin %	-461.79%	-104.6%	-0.07%	-0.07%	35.76%	19%	48.67%	62.88%	14.48%	-13.45%
Operating Income Growth %	-3534.6%	84.23%	99.9%	0%	150310.93%	-40.69%	452.51%	153.28%	-90.07%	-174.41%
EBITDA+	-844.33M	-42.3M	123.37M	121.79M	551.41M	580.14M	1.37B	2.77B	834.5M	626.78M
EBITDA Margin %	-334.49%	-24.08%	48.32%	47.7%	71.73%	67.6%	74.03%	76.38%	53.32%	50%
EBITDA Growth %	-343.88%	94.99%	391.64%	-1.28%	352.75%	5.21%	136.18%	102.23%	-69.88%	-24.89%
D&A (Non-Cash Add-back)	321.32M	141.49M	123.56M	121.98M	276.53M	417.11M	469.39M	489.45M	607.91M	795.4M
EBIT	-1.08B	778K	17.1M	136.18M	286.23M	173.2M	-11.84M	1.57B	416.01M	-157.21M
Net Interest Income+	-118.59M	-128.74M	-146.45M	144.81M	-161.54M	-234.83M	-218.49M	-171.09M	-169.02M	-210.62M
Interest Income	0	0	0	144.81M	0	0	0	0	0	0
Interest Expense	118.59M	128.74M	146.45M	0	161.54M	234.83M	218.49M	171.09M	169.02M	210.62M
Other Income/Expense	-154.44M	55.83M	-129.17M	-170.76M	-150.19M	-224.66M	-1.13B	-879.54M	20.39M	-199.21M
Pretax Income+	-1.2B	-127.97M	-129.35M	-129.35M	124.69M	-61.63M	-230.32M	1.4B	246.99M	-367.83M
Pretax Margin %	-476.01%	-72.83%	-50.66%	-50.66%	16.22%	-7.18%	-12.44%	38.64%	15.78%	-29.34%
Income Tax+	-154.44M	7.17M	-17.94M	17.94M	27.8M	-9.21M	11.4M	261.06M	35.09M	-149.07M
Effective Tax Rate %	87.15%	105.6%	86.13%	86.13%	77.7%	85.06%	104.95%	81.38%	85.79%	59.47%
Net Income+	-1.05B	-135.13M	-111.41M	-111.41M	96.89M	-52.42M	-241.72M	1.14B	211.89M	-218.75M
Net Margin %	-414.82%	-76.91%	-43.63%	-43.63%	12.6%	-6.11%	-13.06%	31.45%	13.54%	-17.45%
Net Income Growth %	-1733.46%	87.09%	17.56%	0%	186.97%	-154.1%	-361.16%	571.98%	-81.43%	-203.24%
Net Income (Continuing)	-1.05B	-135.13M	-111.41M	-28.63M	96.89M	-52.42M	-241.72M	1.14B	211.89M	-218.75M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	24.78M	92.52M
EPS (Diluted)+	-113.53	-11.52	-7.61	-0.27	0.52	-0.39	-1.12	4.11	0.76	-0.76
EPS Growth %	-1752.04%	89.85%	33.94%	96.45%	292.59%	-175%	-187.18%	466.96%	-81.51%	-200%
EPS (Basic)	-113.54	-11.52	-7.61	-0.27	0.52	-0.39	-1.12	4.75	0.76	-0.76
Diluted Shares Outstanding	9.22M	11.73M	14.64M	105.46M	187.38M	215.19M	231.63M	277.46M	276.81M	287.01M
Basic Shares Outstanding	9.22M	11.73M	14.64M	105.46M	142.75M	215.19M	231.63M	236.04M	276.81M	287.01M
Dividend Payout Ratio	-	-	-	-	-	-	-	3.04%	65.59%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	156.24M	90.17M	302.5M	159.43M	289.69M	199.81M	318.74M	644.99M	461.49M	284.03M
Cash & Short-Term Investments	134.01M	65.9M	61.26M	23.19M	18.53M	30.27M	30.66M	54.65M	16.67M	6.8M
Cash Only	134.01M	65.9M	61.26M	23.19M	18.53M	30.27M	30.66M	54.65M	16.67M	6.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	18.79M	22.44M	39.98M	108.46M	185.45M	145.79M	275.62M	524.4M	245.49M	211.87M
Days Sales Outstanding	27.17	46.62	57.15	155.04	88.06	62	54.36	52.76	57.25	61.69
Inventory	1.2M	1.18M	998K	15.4M	0	0	5.01M	34.82M	0	0
Days Inventory Outstanding	1.07	2.06	1.98	67.8	-	-	2.43	9.78	-	-
Other Current Assets	2.24M	641K	200.27M	17.53M	85.7M	23.75M	5.26M	-10.42M	126.78M	4.87M
Total Non-Current Assets+	1.04B	799.7M	627.91M	2.03B	4.37B	4.54B	4.35B	5.05B	5.79B	6.1B
Property, Plant & Equipment	1.04B	798.66M	607.93M	1.67B	4.01B	4.09B	4.01B	4.71B	5.46B	5.76B
Fixed Asset Turnover	0.24x	0.22x	0.42x	0.15x	0.19x	0.21x	0.46x	0.77x	0.29x	0.22x
Goodwill	0	0	0	350.21M	335.9M	335.9M	335.9M	335.9M	335.9M	335.9M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	19.09M	-151.7M	19M	661K	0	0	0	0
Other Non-Current Assets	-773K	-8.09M	9.72M	2K	231K	40K	0	0	0	0
Total Assets+	1.2B	889.87M	930.42M	2.19B	4.66B	4.74B	4.67B	5.69B	6.25B	6.38B
Asset Turnover	0.21x	0.20x	0.27x	0.12x	0.17x	0.18x	0.40x	0.64x	0.25x	0.20x
Asset Growth %	-47.42%	-25.59%	4.56%	135.15%	112.86%	1.83%	-1.57%	21.98%	9.82%	2.05%
Total Current Liabilities+	95.72M	91.71M	168.49M	206.85M	392.38M	441.59M	633.98M	756.14M	681.49M	612.85M
Accounts Payable	57.28M	45.31M	126.03M	138.77M	252.99M	259.28M	314.57M	530.2M	523.26M	421.81M
Days Payables Outstanding	50.94	78.78	249.57	610.91	198.89	142.72	152.49	148.95	147.04	111.27
Short-Term Debt	0	0	0	0	1.99M	2.28M	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	107K	40.1M	35.94M	59.91M	128.74M	172.5M	194.26M	15.73M	6.7M	23.02M
Current Ratio	1.63x	0.98x	1.80x	0.77x	0.74x	0.45x	0.50x	0.85x	0.68x	0.46x
Quick Ratio	1.62x	0.97x	1.79x	0.70x	0.74x	0.45x	0.49x	0.81x	0.68x	0.46x
Cash Conversion Cycle	-22.7	-30.1	-190.44	-388.07	-	-	-95.71	-86.41	-	-
Total Non-Current Liabilities+	1.27B	1.07B	1.13B	1.41B	3.12B	2.86B	2.85B	2.66B	3.19B	3.44B
Long-Term Debt	1.25B	1.04B	1.11B	1.24B	2.88B	2.52B	2.62B	2.15B	2.64B	2.95B
Capital Lease Obligations	0	0	0	0	1.51M	740K	4.08M	52.38M	47.74M	37.74M
Deferred Tax Liabilities	1.97M	9.13M	10.27M	161.92M	211.77M	319.15M	197.42M	425.73M	470.04M	345.12M
Other Non-Current Liabilities	20.09M	15.8M	10.41M	5.14M	28.72M	22.15M	29.74M	29.11M	30.77M	100.75M
Total Liabilities	1.37B	1.16B	930.42M	1.62B	3.51B	3.3B	3.48B	3.42B	3.87B	4.05B
Total Debt+	1.25B	1.04B	1.11B	1.25B	2.88B	2.52B	2.62B	2.25B	2.71B	3.03B
Net Debt	1.12B	978.6M	1.05B	1.22B	2.86B	2.49B	2.59B	2.19B	2.7B	3.02B
Debt / Equity	-	-	-	2.19x	2.52x	1.75x	2.21x	0.99x	1.14x	1.30x
Debt / EBITDA	-	-	9.00x	10.23x	5.23x	4.34x	1.91x	0.81x	3.25x	4.83x
Net Debt / EBITDA	-	-	8.50x	10.04x	5.20x	4.29x	1.89x	0.79x	3.23x	4.82x
Interest Coverage	-9.83x	-1.43x	-0.00x	-	1.70x	0.69x	4.12x	13.33x	1.34x	-0.80x
Total Equity+	-171.26M	-271.27M	-369.27M	569.57M	1.14B	1.44B	1.19B	2.28B	2.38B	2.33B
Equity Growth %	-119.68%	-58.4%	-36.13%	254.24%	100.68%	26.14%	-17.62%	91.81%	4.6%	-2.08%
Book Value per Share	-18.57	-23.13	-25.22	5.40	6.10	6.70	5.13	8.21	8.61	8.13
Total Shareholders' Equity	-171.26M	-271.27M	-369.27M	569.57M	1.14B	1.44B	1.19B	2.28B	2.36B	2.24B
Common Stock	4.77M	6.97M	7.71M	52.94M	95M	116.21M	116.46M	138.76M	139.21M	146.13M
Retained Earnings	-680.7M	-815.83M	-369.27M	64.12M	138.6M	55.18M	-204.04M	886.14M	958.27M	728.62M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.4B	-3.02B	-2.04B	-210.56M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	24.78M	92.52M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	30.09M	-23.73M	174.61M	188.04M	451.24M	575.7M	859M	1.7B	1.02B	620.34M
Operating CF Margin %	11.92%	-13.5%	68.39%	73.64%	58.7%	67.08%	46.41%	46.81%	64.97%	49.49%
Operating CF Growth %	-92.5%	-178.87%	835.9%	7.69%	139.97%	27.58%	49.21%	97.72%	-40.13%	-38.99%
Net Income	-1.05B	-135.13M	-111.41M	-28.63M	96.53M	-52.42M	-241.72M	1.14B	211.89M	-218.75M
Depreciation & Amortization	1.16B	79.22M	161.26M	121.98M	276.53M	451.18M	469.39M	489.45M	607.91M	795.4M
Stock-Based Compensation	8.15M	4.66M	5.92M	4.91M	0	6.46M	6.8M	6.61M	9.87M	15.26M
Deferred Taxes	-155.25M	7.11M	-18.08M	30.13M	28.03M	0	-3.56M	228.32M	44.3M	-124.92M
Other Non-Cash Items	77.07M	35.93M	73.95M	333.14M	21.62M	128.9M	677.31M	-143.44M	-99.47M	208.21M
Working Capital Changes	-8.15M	-15.51M	62.96M	-18.41M	28.53M	41.57M	-49.2M	-23.43M	242.35M	-54.86M
Change in Receivables	30.25M	-3.65M	-16.13M	-58.21M	3.22M	34.55M	-121.95M	-242.39M	278.7M	56.58M
Change in Inventory	0	0	0	-147.31M	0	0	0	0	0	0
Change in Payables	-46.52M	-12.03M	80.01M	51.99M	15.48M	0	74.78M	229.25M	0	-88.55M
Cash from Investing+	-161.72M	-29.57M	-178.95M	-211.84M	-1.17B	-511.2M	-550.82M	-1.1B	-1.42B	-1.08B
Capital Expenditures	-264.21M	-57.42M	-180.48M	-319.89M	-486.78M	-511.49M	-689.21M	-1.07B	-1.43B	-1.1B
CapEx % of Revenue	104.67%	32.68%	70.69%	125.29%	63.33%	59.6%	37.24%	29.43%	91.05%	87.55%
Acquisitions	102.48M	27.86M	1.53M	117.39M	-693.39M	0	138.39M	4.19M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	102.48M	27.86M	1.53M	-9.34M	9.34M	287K	0	-34.07M	7.29M	13.2M
Cash from Financing+	263.57M	-14.8M	-310K	-14.26M	714.94M	-52.76M	-307.8M	-576.72M	362.97M	454.07M
Debt Issued (Net)	282.35M	-3.4M	0	-49.93M	791.38M	1.5M	-288.89M	-519.76M	480M	307M
Equity Issued (Net)	0	0	0	1000K	1000K	-692K	0	0	0	1000K
Dividends Paid	0	0	0	0	-17.83M	-25.58M	-17.5M	-50.7M	-138.99M	0
Share Repurchases	0	-313K	-312K	-5.06M	0	-692K	0	-6.25M	0	0
Other Financing	-18.77M	-11.41M	-310K	-5.06M	-533.61M	-27.99M	-1.41M	-6.25M	21.96M	46.62M
Net Change in Cash	131.94M	-68.1M	-4.65M	-38.06M	-4.66M	11.74M	391K	23.99M	-37.98M	-9.87M
Free Cash Flow+	-234.12M	-81.15M	-5.87M	-131.85M	-35.54M	64.22M	169.79M	630.59M	-408.24M	-477.14M
FCF Margin %	-92.75%	-46.19%	-2.3%	-51.64%	-4.62%	7.48%	9.17%	17.38%	-26.08%	-38.06%
FCF Growth %	-0.14%	65.34%	92.77%	-2147.4%	73.04%	280.67%	164.41%	271.38%	-164.74%	-16.88%
FCF per Share	-25.38	-6.92	-0.40	-1.25	-0.19	0.30	0.73	2.27	-1.47	-1.66
FCF Conversion (FCF/Net Income)	-0.03x	0.18x	-1.57x	-1.69x	4.66x	-10.98x	-3.55x	1.49x	4.80x	-2.84x
Interest Paid	0	0	0	0	0	228.56M	0	166.28M	161.01M	190.02M
Taxes Paid	0	0	0	0	0	0	0	16.52M	29.78M	37K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-299.6%	-	-	-111.24%	11.31%	-4.06%	-18.39%	65.83%	9.09%	-9.28%
Return on Invested Capital (ROIC)	-60.65%	-16.69%	-0.02%	-0.01%	7.11%	3.08%	17.52%	41.48%	3.56%	-2.42%
Gross Margin	-62.59%	-19.48%	27.81%	67.53%	39.6%	22.73%	59.32%	64.19%	17.01%	-10.37%
Net Margin	-414.82%	-76.91%	-43.63%	-43.63%	12.6%	-6.11%	-13.06%	31.45%	13.54%	-17.45%
Debt / Equity	-	-	-	2.19x	2.52x	1.75x	2.21x	0.99x	1.14x	1.30x
Interest Coverage	-9.83x	-1.43x	-0.00x	-	1.70x	0.69x	4.12x	13.33x	1.34x	-0.80x
FCF Conversion	-0.03x	0.18x	-1.57x	-1.69x	4.66x	-10.98x	-3.55x	1.49x	4.80x	-2.84x
Revenue Growth	-54.54%	-30.39%	45.32%	0%	201.06%	11.64%	115.65%	96.03%	-56.86%	-19.9%

Comstock Resources, Inc. (CRK) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

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Financial Ratios

Comstock Resources, Inc. (CRK) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

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