Comstock Resources (CRK) Financials

$14.89 +0.34 (+2.35%)

Closing price 03:59 PM Eastern

Extended Trading

$14.84 -0.06 (-0.38%)

As of 07:57 PM Eastern

Annual Income Statements for Comstock Resources

This table shows Comstock Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-57	-1,047	-135	-111	74	-83	-259	1,125	211	-230	396
Consolidated Net Income / (Loss)	-57	-1,047	-135	-111	97	-52	-501	1,141	212	-219	420
Net Income / (Loss) Continuing Operations	-57	-1,047	-135	-111	97	-52	-242	1,141	212	-219	420
Total Pre-Tax Income	-82	-1,202	-128	-129	125	-62	-230	1,402	247	-368	509
Total Operating Income	-32	-1,166	-184	-0.18	275	163	901	2,281	227	-169	646
Total Gross Profit	482	174	160	237	697	752	1,720	3,473	1,380	1,060	2,054
Total Revenue	555	252	176	254	769	858	1,851	3,628	1,565	1,254	2,220
Operating Revenue	555	252	176	254	769	858	1,851	3,628	1,565	1,254	2,220
Total Cost of Revenue	73	79	16	18	71	107	131	156	185	195	166
Operating Cost of Revenue	73	79	16	18	71	107	131	156	185	195	166
Total Operating Expenses	514	1,339	344	237	423	589	819	1,191	1,154	1,228	1,408
Selling, General & Admin Expense	32	24	24	26	29	32	35	39	38	39	49
Marketing Expense	24	10	4.93	5.37	36	37	49	78	92	57	40
Exploration Expense	-	-	-	-	-	-	-	-	1.78	0.00	10
Depreciation Expense	378	321	141	124	277	417	469	489	608	795	641
Other Operating Expenses / (Income)	-	112	62	38	81	102	103	576	414	336	639
Impairment Charge	80	872	111	44	0.24	0.03	0.00	8.29	0.00	0.00	29
Total Other Income / (Expense), net	-50	-36	56	-129	-150	-225	-1,131	-880	20	-199	-137
Interest Expense	59	40	-60	146	162	236	571	218	169	211	223
Other Income / (Expense), net	8.18	2.68	-5.36	17	11	9.95	-560	-662	189	11	86
Income Tax Expense	-25	-154	7.17	-18	28	-9.21	11	261	35	-149	89
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	0.00	0.78	11	25
Basic Earnings per Share	($6.20)	($113.53)	($11.52)	($7.61)	$0.52	($0.39)	($1.12)	$4.75	$0.76	($0.76)	$1.43
Weighted Average Basic Shares Outstanding	9.31M	9.22M	11.73M	14.64M	142.75M	215.19M	231.63M	236.05M	276.81M	287.01M	290.78M
Diluted Earnings per Share	($6.20)	($113.53)	($11.52)	($7.61)	$0.52	($0.39)	($1.12)	$4.11	$0.76	($0.76)	$1.43
Weighted Average Diluted Shares Outstanding	9.31M	9.22M	11.73M	14.64M	187.38M	215.19M	231.63M	277.47M	276.81M	287.01M	294.13M
Weighted Average Basic & Diluted Shares Outstanding	9.31M	9.22M	11.73M	14.60M	190.00M	232.41M	232.92M	277.51M	278.43M	292.92M	294.02M
Cash Dividends to Common per Share	$2.50	-	-	-	-	$0.00	$0.00	$0.13	$0.50	$0.00	$0.00

This table shows Comstock Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	15	108	-16	-126	-29	-58	-121	125	111	281	107
Consolidated Net Income / (Loss)	15	108	-14	-123	-26	-55	-115	131	118	287	112
Net Income / (Loss) Continuing Operations	15	108	-14	-123	-26	-55	-115	131	118	287	112
Total Pre-Tax Income	18	115	-23	-169	-40	-135	-259	272	137	358	124
Total Operating Income	47	51	-13	-92	-61	-1.94	126	89	50	380	175
Total Gross Profit	330	364	289	197	250	323	470	429	410	746	546
Total Revenue	377	411	336	247	304	367	513	470	450	787	587
Operating Revenue	377	411	336	247	304	367	513	470	450	787	587
Total Cost of Revenue	47	47	47	49	54	44	43	42	40	42	42
Operating Cost of Revenue	47	47	47	49	54	44	43	42	40	42	42
Total Operating Expenses	282	313	302	290	312	325	344	339	360	366	371
Selling, General & Admin Expense	9.59	6.00	9.17	10	9.92	10	11	12	12	14	18
Marketing Expense	25	32	18	19	13	7.71	11	11	11	7.50	10
Depreciation Expense	148	186	191	194	208	202	168	158	157	157	142
Other Operating Expenses / (Income)	99	89	84	66	82	104	152	158	170	159	191
Impairment Charge	0.00	-1.78	0.00	0.00	0.00	-	2.15	0.00	6.60	20	9.34
Other Special Charges / (Income)	0.00	-	0.00	0.00	-0.91	-	0.00	0.00	2.49	-	0.00
Total Other Income / (Expense), net	-29	64	-9.92	-77	21	-133	-385	183	87	-22	-50
Interest Expense	44	48	50	52	55	55	55	55	57	56	53
Other Income / (Expense), net	15	112	40	-25	75	-79	-330	238	143	35	2.66
Income Tax Expense	3.61	6.22	-8.29	-46	-15	-80	-143	141	19	72	12
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.78	1.85	3.06	3.17	2.82	5.89	5.89	6.97	5.85	5.05
Basic Earnings per Share	$0.05	$0.39	($0.05)	($0.43)	($0.09)	($0.19)	($0.40)	$0.45	$0.40	$0.98	$0.38
Weighted Average Basic Shares Outstanding	277.00M	276.81M	277.96M	289.67M	290.17M	287.01M	290.30M	290.60M	291.10M	290.78M	291.32M
Diluted Earnings per Share	$0.05	$0.39	($0.05)	($0.43)	($0.09)	($0.19)	($0.40)	$0.44	$0.40	$0.99	$0.38
Weighted Average Diluted Shares Outstanding	277.00M	276.81M	277.96M	289.67M	290.17M	287.01M	290.30M	294.25M	293.95M	294.13M	291.32M
Weighted Average Basic & Diluted Shares Outstanding	278.43M	278.43M	292.20M	292.26M	292.26M	292.92M	292.92M	293.07M	293.05M	294.02M	293.70M
Cash Dividends to Common per Share	$0.13	$0.13	$0.00	$0.00	$0.00	-	$0.00	$0.00	$0.00	-	$0.00

This table details how cash moves in and out of Comstock Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.90	132	-68	-4.65	-4.66	12	0.39	24	-38	-9.87	17
Net Cash From Operating Activities	401	30	-24	175	451	576	861	1,698	1,017	620	900
Net Cash From Continuing Operating Activities	401	30	-24	175	451	576	861	1,698	1,017	620	900
Net Income / (Loss) Continuing Operations	-57	-1,047	-135	-111	97	-52	-242	1,141	212	-219	420
Consolidated Net Income / (Loss)	-57	-1,047	-135	-111	97	-52	-242	1,141	212	-219	420
Depreciation Expense	378	321	141	124	277	417	469	489	608	795	641
Amortization Expense	4.10	5.14	18	36	16	34	22	10	7.96	11	12
Non-Cash Adjustments To Reconcile Net Income	92	914	-39	82	4.99	132	662	-147	-98	212	-304
Changes in Operating Assets and Liabilities, net	-16	-163	-8.41	45	57	45	-51	205	287	-180	130
Net Cash From Investing Activities	-635	-162	-30	-179	-1,171	-511	-553	-1,098	-1,418	-1,084	-915
Net Cash From Continuing Investing Activities	-635	-162	-30	-179	-1,171	-511	-553	-1,098	-1,418	-1,084	-915
Purchase of Property, Plant & Equipment	-635	-264	-57	-180	-487	-510	-691	-1,068	-1,425	-1,097	-1,349
Divestitures	-	-	-	-	-	0.29	138	4.19	41	1.21	429
Other Investing Activities, net	-	-	28	1.53	9.81	-1.80	-0.14	-34	-34	12	5.00
Net Cash From Financing Activities	233	264	-15	-0.31	715	-53	-308	-577	363	454	33
Net Cash From Continuing Financing Activities	233	264	-15	-0.31	715	-53	-308	-577	363	454	33
Repayment of Debt	-100	-508	-3.40	-8.00	-127	-907	-3,031	-1,264	-340	-710	-905
Repurchase of Common Equity	-11	-16	-11	-	-8.62	-25	-36	-11	-0.14	-6.86	-0.04
Payment of Dividends	-24	-	-	-	-18	-26	-18	-51	-139	-3.65	-17
Issuance of Debt	371	790	0.00	8.00	927	909	2,778	755	820	1,017	750
Issuance of Common Equity	-	-	-	-	300	207	0.00	0.00	24	161	216
Other Financing Activities, net	-3.40	-2.57	-0.30	-0.31	-534	-0.69	-1.41	-6.26	-1.90	-3.37	-11

This table details how cash moves in and out of Comstock Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	9.92	-3.17	-10	13	-5.50	-6.97	26	-7.02	-6.64	4.72	-9.15
Net Cash From Operating Activities	71	228	172	84	98	267	175	348	153	224	272
Net Cash From Continuing Operating Activities	71	228	172	84	98	267	175	348	153	224	272
Net Income / (Loss) Continuing Operations	15	108	-14	-123	-26	-55	-115	131	118	287	112
Consolidated Net Income / (Loss)	15	108	-14	-123	-26	-55	-115	131	118	287	112
Depreciation Expense	148	186	191	194	208	202	168	158	157	157	142
Amortization Expense	1.99	1.98	1.98	3.40	3.14	2.96	2.94	2.98	3.01	3.05	3.04
Non-Cash Adjustments To Reconcile Net Income	-1.28	-104	12	90	-21	131	327	-226	-108	-297	-77
Changes in Operating Assets and Liabilities, net	-93	37	-19	-81	-67	-13	-208	282	-17	73	92
Net Cash From Investing Activities	-351	-356	-348	-227	-212	-297	-298	-341	-324	48	-403
Net Cash From Continuing Investing Activities	-351	-356	-348	-227	-212	-297	-298	-341	-324	48	-403
Purchase of Property, Plant & Equipment	-345	-336	-351	-237	-229	-280	-298	-344	-342	-365	-416
Divestitures	-	-	0.00	-	1.21	-	0.00	-	15	414	1.82
Other Investing Activities, net	-5.97	-19	3.23	9.25	17	-17	-0.27	3.33	2.38	-0.44	11
Net Cash From Financing Activities	290	124	166	157	108	23	150	-14	164	-267	122
Net Cash From Continuing Financing Activities	290	124	166	157	110	21	150	-14	164	-267	122
Repayment of Debt	-90	-110	-175	-410	-60	-65	-110	-165	-100	-530	-250
Repurchase of Common Equity	-	-	0.00	-6.77	-0.04	-0.05	0.00	-0.04	-	-	-2.55
Payment of Dividends	-35	-35	0.00	-1.10	1.10	-3.65	-2.22	-3.28	-4.72	-6.30	-8.22
Issuance of Debt	415	245	235	567	150	65	205	130	205	210	387
Issuance of Common Equity	-	24	106	11	19	25	60	33	64	59	0.00
Other Financing Activities, net	-	-	0.00	-	-	-	-2.69	-8.26	-0.06	-	-4.21

This table presents Comstock Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,196	890	930	2,188	4,657	4,624	4,668	5,694	6,254	6,382	7,007
Total Current Assets	156	90	303	159	290	200	319	645	461	284	361
Cash & Equivalents	134	66	61	23	19	30	31	55	17	6.80	24
Accounts Receivable	19	22	39	97	180	146	268	510	231	175	243
Other Current Assets	3.44	1.82	203	29	86	24	20	80	213	102	94
Plant, Property, & Equipment, net	1,038	799	608	1,668	4,009	4,085	4,007	4,623	5,385	5,688	6,215
Plant, Property & Equipment, gross	4,436	3,817	2,651	1,879	4,495	4,987	5,065	6,168	7,532	8,629	9,763
Accumulated Depreciation	3,397	3,018	2,043	211	486	902	1,058	1,545	2,148	2,941	3,547
Total Noncurrent Assets	1.19	1.04	20	360	359	340	342	427	407	410	431
Goodwill	-	-	0.00	350	336	336	336	336	336	336	336
Other Noncurrent Operating Assets	1.19	1.04	0.90	0.00	18	3.73	6.45	91	71	74	95
Total Liabilities & Shareholders' Equity	1,196	890	930	2,188	4,657	4,624	4,668	5,694	6,254	6,382	7,007
Total Liabilities	1,367	1,161	1,300	1,618	3,135	3,182	3,480	3,416	3,870	4,049	4,044
Total Current Liabilities	96	92	168	207	392	442	634	756	681	613	730
Accounts Payable	57	45	126	139	253	259	315	530	523	422	502
Accrued Expenses	38	40	42	68	137	133	135	183	134	146	153
Other Current Liabilities	-	6.03	-	-	2.22	49	184	43	24	45	75
Total Noncurrent Liabilities	1,271	1,069	1,131	1,411	2,742	2,741	2,846	2,660	3,189	3,436	3,315
Long-Term Debt	1,249	1,045	1,111	1,244	2,500	2,517	2,615	2,153	2,640	2,952	2,809
Asset Retirement Reserve & Litigation Obligation	20	16	10	5.14	18	19	26	29	31	34	21
Noncurrent Deferred & Payable Income Tax Liabilities	1.97	9.13	10	162	212	201	197	426	470	345	437
Other Noncurrent Operating Liabilities	-	-	-	-	12	3.60	8.14	52	48	104	48
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-171	-271	-369	570	1,143	1,267	1,013	2,278	2,383	2,334	2,963
Total Preferred & Common Equity	-171	-271	-369	570	1,143	1,267	1,013	2,278	2,358	2,241	2,647
Total Common Equity	-171	-271	-369	570	1,143	1,267	1,013	2,278	2,358	2,241	2,647
Common Stock	509	539	554	505	1,004	1,212	1,217	1,392	1,400	1,512	1,523
Retained Earnings	-681	-816	-927	64	139	55	-204	886	958	729	1,124
Noncontrolling Interest	-	-	-	-	-	-	-	0.00	25	93	316

This table presents Comstock Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	5,701	5,837	6,031	6,317	6,325	6,313	6,602	6,695	6,841	7,240
Total Current Assets	423	282	327	358	323	300	339	269	269	290
Cash & Equivalents	34	9.92	20	6.42	19	14	33	26	19	15
Accounts Receivable	254	194	215	132	155	156	209	174	173	169
Other Current Assets	135	78	93	220	149	130	98	70	77	106
Plant, Property, & Equipment, net	4,860	5,026	5,220	5,526	5,575	5,590	5,829	6,002	6,159	6,492
Plant, Property & Equipment, gross	6,539	6,841	7,182	7,863	8,106	8,329	8,937	9,269	9,543	10,180
Accumulated Depreciation	1,679	1,815	1,962	2,338	2,532	2,739	3,108	3,267	3,384	3,688
Total Noncurrent Assets	418	529	484	434	427	423	434	424	413	458
Goodwill	336	336	336	336	336	336	336	336	336	336
Other Noncurrent Operating Assets	82	193	148	98	91	87	98	88	77	122
Total Liabilities & Shareholders' Equity	5,701	5,837	6,031	6,317	6,325	6,313	6,602	6,695	6,841	7,240
Total Liabilities	3,321	3,537	3,748	3,839	3,959	3,951	4,324	4,260	4,223	4,169
Total Current Liabilities	628	762	660	556	552	500	858	748	650	712
Accounts Payable	444	552	504	441	378	358	434	460	455	553
Accrued Expenses	146	132	104	81	139	106	113	152	124	101
Other Current Liabilities	39	78	53	34	35	35	311	136	71	58
Total Noncurrent Liabilities	2,692	2,774	3,088	3,283	3,406	3,451	3,466	3,512	3,573	3,457
Long-Term Debt	2,154	2,176	2,503	2,702	2,856	2,949	3,050	3,018	3,126	2,948
Asset Retirement Reserve & Litigation Obligation	30	30	30	31	32	32	35	35	22	21
Noncurrent Deferred & Payable Income Tax Liabilities	465	451	455	462	416	403	202	345	366	449
Other Noncurrent Operating Liabilities	44	117	100	87	103	67	180	113	60	40
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,380	2,300	2,283	2,479	2,366	2,362	2,277	2,435	2,618	3,070
Total Preferred & Common Equity	2,380	2,300	2,283	2,446	2,320	2,295	2,121	2,244	2,360	2,757
Total Common Equity	2,380	2,300	2,283	2,446	2,320	2,295	2,121	2,244	2,360	2,757
Common Stock	1,394	1,395	1,397	1,504	1,505	1,509	1,514	1,511	1,517	1,526
Retained Earnings	986	906	885	942	816	787	607	732	843	1,232
Noncontrolling Interest	-	-	-	33	46	67	156	191	258	313

This table displays calculated financial ratios and metrics derived from Comstock Resources' official financial filings.

Metric	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	232,924,646.00	233,165,068.00	278,429,463.00	292,260,645.00	293,054,806.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	232,924,646.00	233,165,068.00	278,429,463.00	292,260,645.00	293,054,806.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-1.11	4.82	0.76	-0.79	1.35
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	32.11%	-54.54%	-30.39%	44.71%	0.00%	11.64%	115.65%	96.05%	-56.86%	-19.86%	76.99%
EBITDA Growth	32.59%	-333.35%	96.43%	689.22%	0.00%	7.90%	33.28%	154.80%	-51.32%	-37.04%	113.14%
EBIT Growth	67.20%	-4,766.83%	83.74%	108.76%	0.00%	-39.43%	96.99%	375.37%	-74.32%	-137.79%	565.33%
NOPAT Growth	55.66%	-3,534.60%	84.23%	99.90%	0.00%	-46.57%	452.51%	194.45%	-89.53%	-160.72%	551.97%
Net Income Growth	-239.20%	-1,733.46%	87.09%	17.56%	0.00%	-154.10%	-855.70%	327.74%	-81.43%	-203.24%	292.09%
EPS Growth	-239.20%	-1,733.46%	89.85%	33.94%	0.00%	-175.00%	-187.18%	466.96%	-81.51%	-200.00%	288.16%
Operating Cash Flow Growth	53.47%	-92.50%	-178.87%	835.90%	0.00%	27.58%	49.55%	97.27%	-40.13%	-38.99%	45.02%
Free Cash Flow Firm Growth	-374.62%	182.94%	-35.98%	-74.83%	0.00%	0.00%	314.83%	59.21%	-134.83%	10.62%	116.48%
Invested Capital Growth	10.36%	-51.06%	-25.08%	-3.86%	0.00%	-1.89%	-3.98%	16.01%	14.41%	5.43%	8.89%
Revenue Q/Q Growth	0.85%	-20.57%	0.30%	10.63%	0.00%	-1.66%	0.00%	0.00%	-26.23%	-3.34%	23.33%
EBITDA Q/Q Growth	-8.54%	-43.96%	89.61%	-4.95%	0.00%	10.19%	0.00%	0.00%	-29.23%	-25.78%	48.25%
EBIT Q/Q Growth	-203.88%	-23.36%	59.49%	-38.15%	0.00%	56.66%	0.00%	0.00%	-53.45%	-282.80%	209.54%
NOPAT Q/Q Growth	-234.56%	-22.00%	60.77%	-101.00%	0.00%	0.65%	0.00%	0.00%	-67.33%	-45.49%	-61.25%
Net Income Q/Q Growth	-57.17%	-28.19%	63.35%	10.19%	0.00%	33.84%	0.00%	0.00%	-66.01%	-297.27%	437.89%
EPS Q/Q Growth	-57.17%	-28.19%	61.60%	9.19%	0.00%	23.53%	0.00%	0.00%	-67.52%	-322.22%	472.00%
Operating Cash Flow Q/Q Growth	4.23%	-68.49%	50.68%	43.42%	0.00%	3.10%	7.04%	0.00%	-19.10%	6.68%	-4.55%
Free Cash Flow Firm Q/Q Growth	24.33%	960.50%	-36.92%	3.22%	0.00%	0.00%	0.00%	0.00%	89.54%	36.30%	-93.23%
Invested Capital Q/Q Growth	-0.24%	-24.40%	-5.62%	-7.59%	0.00%	2.25%	0.00%	0.00%	5.05%	-0.35%	0.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	86.82%	68.78%	90.99%	93.10%	90.72%	87.58%	92.93%	95.71%	88.19%	84.46%	92.52%
EBITDA Margin	64.56%	-331.39%	-17.00%	69.22%	75.25%	72.73%	44.95%	58.42%	65.92%	51.79%	62.36%
Operating Margin	-5.78%	-461.79%	-104.60%	-0.07%	35.76%	19.00%	48.67%	62.88%	14.48%	-13.44%	29.09%
EBIT Margin	-4.30%	-460.73%	-107.65%	6.52%	37.16%	20.16%	18.41%	44.64%	26.58%	-12.53%	32.95%
Profit (Net Income) Margin	-10.29%	-414.82%	-76.91%	-43.81%	12.60%	-6.11%	-27.07%	31.44%	13.54%	-17.44%	18.93%
Tax Burden Percent	69.82%	87.15%	105.60%	86.13%	77.70%	85.06%	217.50%	81.38%	85.79%	59.47%	82.60%
Interest Burden Percent	342.32%	103.32%	67.65%	-780.62%	43.66%	-35.63%	-67.59%	86.55%	59.37%	233.98%	69.54%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	22.30%	0.00%	0.00%	18.62%	14.21%	0.00%	17.40%
Return on Invested Capital (ROIC)	-1.22%	-56.80%	-15.58%	-0.02%	5.33%	2.88%	16.38%	45.57%	4.14%	-2.30%	9.68%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.96%	-78.07%	-16.20%	-10.99%	0.63%	-3.83%	-28.25%	15.00%	4.88%	-5.91%	5.72%
Return on Net Nonoperating Assets (RNNOA)	-5.05%	-242.79%	76.65%	34.80%	1.03%	-6.41%	-54.48%	20.26%	4.95%	-6.98%	6.19%
Return on Equity (ROE)	-6.27%	-299.60%	61.07%	34.78%	6.36%	-3.54%	-38.10%	65.83%	9.09%	-9.28%	15.87%
Cash Return on Invested Capital (CROIC)	-11.07%	11.75%	13.09%	3.92%	0.00%	4.78%	20.43%	30.75%	-9.30%	-7.58%	1.17%
Operating Return on Assets (OROA)	-1.09%	-67.22%	-18.14%	1.82%	8.35%	3.73%	7.33%	31.26%	6.96%	-2.49%	10.93%
Return on Assets (ROA)	-2.59%	-60.52%	-12.96%	-12.24%	2.83%	-1.13%	-10.78%	22.02%	3.55%	-3.46%	6.28%
Return on Common Equity (ROCE)	-6.27%	-299.60%	61.07%	34.78%	5.21%	-2.87%	-33.03%	62.51%	9.04%	-9.05%	14.64%
Return on Equity Simple (ROE_SIMPLE)	-6.56%	611.42%	49.82%	30.17%	8.48%	-4.14%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-22	-816	-129	-0.13	214	114	631	1,857	194	-118	533
NOPAT Margin	-4.04%	-323.25%	-73.22%	-0.05%	27.79%	13.30%	34.07%	51.17%	12.42%	-9.41%	24.03%
Net Nonoperating Expense Percent (NNEP)	3.74%	21.27%	0.62%	10.97%	4.70%	6.70%	44.62%	30.57%	-0.74%	3.62%	3.95%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	17.38%	41.90%	3.87%	-2.23%	9.24%
Cost of Revenue to Revenue	13.18%	31.22%	9.01%	6.90%	9.28%	12.42%	7.08%	4.29%	11.81%	15.54%	7.48%
SG&A Expenses to Revenue	5.83%	9.33%	13.64%	10.28%	3.80%	3.73%	1.89%	1.09%	2.43%	3.14%	2.19%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	92.60%	530.57%	195.59%	93.17%	54.96%	68.58%	44.25%	32.83%	73.71%	97.91%	63.43%
Earnings before Interest and Taxes (EBIT)	-24	-1,163	-189	17	286	173	341	1,620	416	-157	732
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	358	-837	-30	176	578	624	832	2,120	1,032	650	1,385
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.36	0.00	0.00	0.00	1.35	0.74	1.76	1.34	1.04	2.38	2.57
Price to Tangible Book Value (P/TBV)	0.36	0.00	0.00	0.00	1.91	1.01	2.64	1.57	1.22	2.80	2.94
Price to Revenue (P/Rev)	0.57	0.34	0.66	0.49	2.01	1.10	0.97	0.84	1.57	4.24	3.06
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	20.71	0.00	0.00	2.71	11.67	0.00	17.17
Dividend Yield	7.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.96%	5.65%	0.00%	0.00%
Earnings Yield	-18.02%	-1,214.25%	-116.97%	-90.19%	4.83%	-8.87%	0.00%	36.87%	8.57%	0.00%	5.82%
Enterprise Value to Invested Capital (EV/IC)	0.71	1.27	1.55	1.72	1.10	0.92	1.21	1.18	1.02	1.58	1.72
Enterprise Value to Revenue (EV/Rev)	2.48	4.76	6.23	4.61	5.73	4.20	2.46	1.42	3.27	6.67	4.46
Enterprise Value to EBITDA (EV/EBITDA)	3.84	0.00	0.00	6.66	7.61	5.77	5.46	2.43	4.95	12.87	7.15
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	70.78	15.42	20.82	13.34	3.18	12.29	0.00	13.53
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	20.62	31.57	7.21	2.77	26.30	0.00	18.55
Enterprise Value to Operating Cash Flow (EV/OCF)	3.43	39.94	0.00	6.72	9.76	6.26	5.28	3.03	5.03	13.48	11.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	7.12	10.12	43.11	0.00	18.99	5.78	4.11	0.00	0.00	153.99
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.22	-7.30	-3.85	-3.01	1.64	1.75	2.20	0.94	1.11	1.27	0.95
Long-Term Debt to Equity	1.22	-7.30	-3.85	-3.01	1.64	1.75	2.20	0.94	1.11	1.27	0.95
Financial Leverage	1.02	3.11	-4.73	-3.17	1.63	1.68	1.93	1.35	1.01	1.18	1.08
Leverage Ratio	2.42	4.95	-4.71	-2.84	3.27	3.13	3.53	2.99	2.56	2.68	2.53
Compound Leverage Factor	8.27	5.11	-3.19	22.18	1.43	-1.12	-2.39	2.59	1.52	6.27	1.76
Debt to Total Capital	54.93%	115.89%	135.08%	149.82%	62.15%	63.58%	68.77%	48.58%	52.56%	55.85%	48.67%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	54.93%	115.89%	135.08%	149.82%	62.15%	63.58%	68.77%	48.58%	52.56%	55.85%	48.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	9.44%	4.42%	4.60%	0.00%	0.49%	1.75%	5.48%
Common Equity to Total Capital	45.07%	-15.89%	-35.08%	-49.82%	28.41%	32.00%	26.63%	51.42%	46.95%	42.40%	45.86%
Debt to EBITDA	2.96	-1.49	-34.97	6.31	4.32	4.03	3.14	1.02	2.56	4.54	2.03
Net Debt to EBITDA	2.95	-1.33	-32.76	5.96	4.29	3.98	3.11	0.99	2.54	4.53	2.01
Long-Term Debt to EBITDA	2.96	-1.49	-34.97	6.31	4.32	4.03	3.14	1.02	2.56	4.54	2.03
Debt to NOPAT	-47.25	-1.53	-8.12	-8,669.24	11.71	22.06	4.15	1.16	13.58	-25.01	5.27
Net Debt to NOPAT	-47.15	-1.37	-7.61	-8,191.05	11.62	21.79	4.10	1.13	13.50	-24.95	5.22
Long-Term Debt to NOPAT	-47.25	-1.53	-8.12	-8,669.24	11.71	22.06	4.15	1.16	13.58	-25.01	5.27
Altman Z-Score	0.52	-3.70	-1.73	-0.83	0.68	0.44	0.80	2.31	1.02	1.00	1.83
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	18.14%	18.71%	13.31%	5.05%	0.53%	2.49%	7.71%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.38	1.63	0.98	1.80	0.74	0.45	0.50	0.85	0.68	0.46	0.49
Quick Ratio	0.32	1.60	0.96	0.59	0.51	0.40	0.47	0.75	0.36	0.30	0.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-204	169	108	27	0.00	190	787	1,253	-436	-390	64
Operating Cash Flow to CapEx	63.17%	11.39%	-41.32%	96.75%	92.70%	112.95%	124.59%	159.05%	71.35%	56.52%	66.67%
Free Cash Flow to Firm to Interest Expense	-3.47	4.24	0.00	0.19	0.00	0.80	1.38	5.75	-2.58	-1.85	0.29
Operating Cash Flow to Interest Expense	6.84	0.76	0.00	1.19	2.79	2.44	1.51	7.79	6.02	2.95	4.04
Operating Cash Flow Less CapEx to Interest Expense	-3.99	-5.88	0.00	-0.04	-0.22	0.28	0.30	2.89	-2.42	-2.27	-2.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.25	0.15	0.17	0.28	0.22	0.18	0.40	0.70	0.26	0.20	0.33
Accounts Receivable Turnover	11.07	7.44	8.52	8.33	5.55	5.26	8.95	9.33	4.22	6.18	10.64
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.26	0.16	0.19	0.36	0.27	0.21	0.46	0.84	0.31	0.23	0.37
Accounts Payable Turnover	0.67	0.90	0.31	0.20	0.36	0.42	0.46	0.37	0.35	0.41	0.36
Days Sales Outstanding (DSO)	32.97	49.04	42.83	43.79	65.79	69.35	40.78	39.12	86.46	59.11	34.31
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	546.65	404.38	1,183.15	1,783.01	1,002.71	877.17	799.82	990.30	1,039.75	884.99	1,014.64
Cash Conversion Cycle (CCC)	-513.69	-355.34	-1,140.32	-1,739.22	-936.92	-807.82	-759.04	-951.18	-953.28	-825.89	-980.34
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,929	944	707	680	4,004	3,929	3,772	4,376	5,007	5,279	5,748
Invested Capital Turnover	0.30	0.18	0.21	0.37	0.19	0.22	0.48	0.89	0.33	0.24	0.40
Increase / (Decrease) in Invested Capital	181	-985	-237	-27	0.00	-76	-156	604	631	272	469
Enterprise Value (EV)	1,376	1,202	1,094	1,173	4,403	3,602	4,546	5,149	5,113	8,363	9,894
Market Capitalization	317	86	116	124	1,542	940	1,786	3,051	2,464	5,325	6,793
Book Value per Share	$93.49	($18.57)	($23.13)	($25.29)	$6.10	$5.89	$4.35	$9.65	$8.47	$7.67	$9.03
Tangible Book Value per Share	$93.49	($18.57)	($23.13)	($25.29)	$4.31	$4.33	$2.91	$8.23	$7.26	$6.52	$7.89
Total Capital	1,931	1,078	773	741	4,023	3,959	3,803	4,431	5,024	5,286	5,772
Total Debt	1,061	1,249	1,045	1,111	2,500	2,517	2,615	2,153	2,640	2,952	2,809
Total Long-Term Debt	1,061	1,249	1,045	1,111	2,500	2,517	2,615	2,153	2,640	2,952	2,809
Net Debt	1,059	1,115	979	1,049	2,482	2,487	2,585	2,098	2,624	2,945	2,785
Capital Expenditures (CapEx)	635	264	57	180	487	510	691	1,068	1,425	1,097	1,349
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-103	-73	-67	73	-121	-272	-346	-166	-237	-336	-393
Debt-free Net Working Capital (DFNWC)	-101	61	-1.54	134	-103	-242	-315	-111	-220	-329	-369
Net Working Capital (NWC)	-101	61	-1.54	134	-103	-242	-315	-111	-220	-329	-369
Net Nonoperating Expense (NNE)	35	231	6.48	111	117	167	1,131	716	-17	101	113
Net Nonoperating Obligations (NNO)	1,059	1,115	979	1,049	2,482	2,487	2,585	2,098	2,624	2,945	2,785
Total Depreciation and Amortization (D&A)	382	326	159	159	293	451	491	500	616	807	653
Debt-free, Cash-free Net Working Capital to Revenue	-18.56%	-29.11%	-38.38%	28.62%	-15.77%	-31.70%	-18.69%	-4.57%	-15.12%	-26.75%	-17.68%
Debt-free Net Working Capital to Revenue	-18.18%	23.97%	-0.87%	52.71%	-13.36%	-28.17%	-17.03%	-3.06%	-14.06%	-26.21%	-16.60%
Net Working Capital to Revenue	-18.18%	23.97%	-0.87%	52.71%	-13.36%	-28.17%	-17.03%	-3.06%	-14.06%	-26.21%	-16.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($6.20)	($113.53)	($11.52)	($7.61)	$0.52	($0.39)	($1.12)	$4.75	$0.76	($0.76)	$1.43
Adjusted Weighted Average Basic Shares Outstanding	9.31M	9.22M	11.73M	14.64M	142.75M	215.19M	231.63M	236.05M	276.81M	287.01M	290.78M
Adjusted Diluted Earnings per Share	($6.20)	($113.53)	($11.52)	($7.61)	$0.52	($0.39)	($1.12)	$4.11	$0.76	($0.76)	$1.43
Adjusted Weighted Average Diluted Shares Outstanding	9.31M	9.22M	11.73M	14.60M	187.38M	215.19M	231.63M	277.47M	276.81M	287.01M	294.13M
Adjusted Basic & Diluted Earnings per Share	($6.20)	($113.53)	($11.52)	($7.61)	$0.52	($0.39)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.31M	9.22M	11.73M	14.60M	0.00	232.41M	232.92M	277.51M	278.43M	292.92M	294.02M
Normalized Net Operating Profit after Tax (NOPAT)	33	-206	-51	31	214	114	744	1,863	194	-118	557
Normalized NOPAT Margin	6.00%	-81.42%	-28.89%	12.06%	27.81%	13.30%	40.20%	51.36%	12.42%	-9.41%	25.11%
Pre Tax Income Margin	-14.73%	-476.01%	-72.83%	-50.87%	16.22%	-7.18%	-12.44%	38.64%	15.78%	-29.32%	22.91%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.41	-29.18	0.00	0.11	1.77	0.73	0.60	7.43	2.46	-0.75	3.28
NOPAT to Interest Expense	-0.38	-20.48	0.00	0.00	1.32	0.48	1.10	8.52	1.15	-0.56	2.39
EBIT Less CapEx to Interest Expense	-11.23	-35.81	0.00	-1.12	-1.25	-1.43	-0.61	2.53	-5.97	-5.96	-2.77
NOPAT Less CapEx to Interest Expense	-11.21	-27.11	0.00	-1.23	-1.69	-1.68	-0.11	3.62	-7.28	-5.77	-3.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-41.72%	0.00%	0.00%	0.00%	18.40%	-48.80%	-3.49%	4.44%	65.59%	-1.67%	3.93%
Augmented Payout Ratio	-60.30%	-1.55%	-8.22%	0.00%	27.30%	-95.76%	-10.63%	5.39%	65.66%	-4.80%	3.94%

This table displays calculated financial ratios and metrics derived from Comstock Resources' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	278,480,507.00	278,429,463.00	278,429,463.00	292,202,274.00	292,260,645.00	292,260,645.00	292,919,009.00	292,917,808.00	293,066,820.00	293,054,806.00	294,021,740.00
DEI Adjusted Shares Outstanding	278,480,507.00	278,429,463.00	278,429,463.00	292,202,274.00	292,260,645.00	292,260,645.00	292,919,009.00	292,917,808.00	293,066,820.00	293,054,806.00	294,021,740.00
DEI Earnings Per Adjusted Shares Outstanding	0.05	0.39	-0.06	-0.43	-0.10	-0.20	-0.41	0.43	0.38	0.96	0.37
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-68.34%	-57.54%	-31.42%	-14.36%	-19.18%	-10.55%	52.74%	90.52%	47.75%	114.31%	14.53%
EBITDA Growth	-66.34%	-54.91%	-37.02%	-33.82%	6.34%	-64.47%	-115.04%	509.27%	56.85%	362.30%	1,076.21%
EBIT Growth	-87.60%	-74.61%	-87.39%	-460.12%	-77.24%	-149.64%	-860.82%	378.82%	1,271.75%	613.81%	187.11%
NOPAT Growth	-93.65%	-89.41%	-108.00%	-441.94%	-213.10%	-102.83%	1,082.08%	166.35%	201.02%	22,486.91%	78.95%
Net Income Growth	-95.86%	-79.15%	-110.76%	-169.66%	-274.71%	-151.04%	-697.24%	206.07%	559.21%	618.45%	197.49%
EPS Growth	-96.09%	-80.20%	-110.20%	-152.94%	-280.00%	-148.72%	-700.00%	202.33%	544.44%	621.05%	195.00%
Operating Cash Flow Growth	-86.74%	-51.27%	-55.60%	-74.79%	38.73%	17.02%	1.87%	315.87%	55.95%	-16.05%	55.63%
Free Cash Flow Firm Growth	0.00%	-287.35%	13.88%	-44.44%	87.86%	53.10%	95.39%	77.35%	33.13%	39.55%	-1,649.37%
Invested Capital Growth	0.00%	14.41%	14.97%	16.48%	11.14%	5.43%	2.32%	4.31%	8.06%	8.89%	13.39%
Revenue Q/Q Growth	30.72%	9.02%	-18.25%	-26.49%	23.35%	20.66%	39.60%	-8.30%	-4.34%	75.02%	-25.40%
EBITDA Q/Q Growth	75.02%	65.03%	-37.31%	-63.45%	181.22%	-44.86%	-126.53%	1,581.19%	-27.60%	62.52%	-43.99%
EBIT Q/Q Growth	395.52%	162.35%	-83.52%	-538.29%	112.01%	-672.10%	-152.65%	260.62%	-40.91%	114.29%	-57.17%
NOPAT Q/Q Growth	417.76%	26.50%	-118.73%	-619.96%	33.69%	96.84%	6,603.51%	-51.36%	0.97%	600.92%	-48.01%
Net Income Q/Q Growth	132.21%	636.26%	-113.36%	-751.52%	79.13%	-115.08%	-108.62%	213.29%	-9.66%	142.82%	-60.77%
EPS Q/Q Growth	129.41%	680.00%	-112.82%	-760.00%	79.07%	-111.11%	-110.53%	210.00%	-9.09%	147.50%	-61.62%
Operating Cash Flow Q/Q Growth	-78.65%	222.49%	-24.83%	-51.28%	17.46%	172.03%	-34.57%	98.90%	-55.95%	46.45%	21.30%
Free Cash Flow Firm Q/Q Growth	-752.92%	87.68%	-17.15%	-17.31%	28.31%	52.39%	88.48%	-476.03%	-111.61%	56.96%	-233.46%
Invested Capital Q/Q Growth	6.71%	5.05%	3.35%	0.54%	1.82%	-0.35%	0.29%	2.51%	5.48%	0.41%	4.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	87.52%	88.57%	85.97%	80.00%	82.27%	87.91%	91.69%	91.12%	91.12%	94.70%	92.88%
EBITDA Margin	56.31%	85.24%	65.36%	32.50%	74.09%	33.86%	-6.43%	103.93%	78.66%	73.04%	54.84%
Operating Margin	12.55%	12.36%	-3.83%	-37.47%	-20.14%	-0.53%	24.60%	19.02%	11.16%	48.27%	29.78%
EBIT Margin	16.44%	39.57%	7.98%	-47.57%	4.63%	-21.96%	-39.74%	69.62%	43.00%	52.65%	30.23%
Profit (Net Income) Margin	3.91%	26.39%	-4.31%	-49.93%	-8.45%	-15.06%	-22.50%	27.80%	26.25%	36.42%	19.15%
Tax Burden Percent	80.31%	94.57%	63.58%	72.78%	63.64%	40.88%	44.61%	48.02%	86.38%	80.00%	90.37%
Interest Burden Percent	29.58%	70.51%	-84.98%	144.23%	-286.58%	167.70%	126.90%	83.15%	70.68%	86.48%	70.11%
Effective Tax Rate	19.69%	5.43%	0.00%	0.00%	0.00%	0.00%	0.00%	51.98%	13.62%	20.00%	9.63%
Return on Invested Capital (ROIC)	8.97%	3.90%	-0.78%	-7.43%	-3.64%	-0.09%	4.71%	2.84%	3.15%	15.55%	10.93%
ROIC Less NNEP Spread (ROIC-NNEP)	7.10%	6.46%	-1.01%	-9.77%	-3.00%	-2.03%	-2.42%	5.86%	5.62%	14.95%	9.40%
Return on Net Nonoperating Assets (RNNOA)	7.72%	6.54%	-1.00%	-10.48%	-3.50%	-2.39%	-2.91%	7.11%	6.82%	16.17%	10.46%
Return on Equity (ROE)	16.70%	10.44%	-1.78%	-17.91%	-7.14%	-2.48%	1.80%	9.95%	9.97%	31.72%	21.39%
Cash Return on Invested Capital (CROIC)	-175.03%	-9.30%	-12.15%	-15.33%	-12.17%	-7.58%	-2.68%	-2.21%	17.23%	1.17%	-3.61%
Operating Return on Assets (OROA)	11.57%	10.37%	1.87%	-10.72%	0.97%	-4.36%	-8.81%	17.70%	11.77%	17.46%	10.02%
Return on Assets (ROA)	2.75%	6.91%	-1.01%	-11.25%	-1.78%	-2.99%	-4.99%	7.07%	7.19%	12.08%	6.35%
Return on Common Equity (ROCE)	16.70%	10.39%	-1.77%	-17.74%	-7.04%	-2.42%	1.73%	9.46%	9.32%	29.28%	19.52%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	38	48	-8.99	-65	-43	-1.36	88	43	43	304	158
NOPAT Margin	10.08%	11.69%	-2.68%	-26.23%	-14.10%	-0.37%	17.22%	9.13%	9.64%	38.61%	26.91%
Net Nonoperating Expense Percent (NNEP)	1.87%	-2.56%	0.23%	2.34%	-0.64%	1.94%	7.13%	-3.01%	-2.47%	0.60%	1.53%
Return On Investment Capital (ROIC_SIMPLE)	0.79%	0.96%	-0.17%	-1.24%	-0.81%	-0.03%	1.66%	0.79%	0.76%	5.27%	2.63%
Cost of Revenue to Revenue	12.48%	11.43%	14.03%	20.00%	17.73%	12.09%	8.31%	8.88%	8.88%	5.30%	7.12%
SG&A Expenses to Revenue	2.54%	1.46%	2.73%	4.12%	3.26%	2.77%	2.16%	2.62%	2.56%	1.75%	3.10%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	74.97%	76.21%	89.80%	117.47%	102.41%	88.43%	67.09%	72.10%	79.95%	46.43%	63.11%
Earnings before Interest and Taxes (EBIT)	62	163	27	-117	14	-81	-204	327	193	415	178
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	212	350	219	80	226	124	-33	489	354	575	322
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.33	1.04	1.06	1.31	1.42	2.38	2.81	3.61	2.46	2.57	2.25
Price to Tangible Book Value (P/TBV)	1.56	1.22	1.22	1.53	1.66	2.80	3.34	4.25	2.87	2.94	2.56
Price to Revenue (P/Rev)	1.43	1.57	1.83	2.21	2.51	4.24	4.16	4.90	3.23	3.06	2.70
Price to Earnings (P/E)	4.89	11.67	42.85	0.00	0.00	0.00	0.00	0.00	102.74	17.17	9.93
Dividend Yield	4.59%	5.65%	5.39%	4.82%	4.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	20.45%	8.57%	2.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.97%	5.82%	10.07%
Enterprise Value to Invested Capital (EV/IC)	1.16	1.02	1.03	1.14	1.18	1.58	1.72	2.08	1.60	1.72	1.57
Enterprise Value to Revenue (EV/Rev)	2.60	3.27	3.76	4.32	4.82	6.67	6.38	6.82	5.10	4.46	4.12
Enterprise Value to EBITDA (EV/EBITDA)	3.78	4.95	5.88	6.86	7.15	12.87	22.99	14.01	9.82	7.15	5.43
Enterprise Value to EBIT (EV/EBIT)	6.17	12.29	23.07	44.19	72.73	0.00	0.00	198.10	38.83	13.53	8.49
Enterprise Value to NOPAT (EV/NOPAT)	9.27	26.30	61.97	0.00	0.00	0.00	0.00	105.86	6.67	18.55	18.71
Enterprise Value to Operating Cash Flow (EV/OCF)	4.39	5.03	6.62	10.68	10.76	13.48	14.64	12.72	9.74	11.00	9.47
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.66	153.99	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.10	1.11	1.09	1.21	1.25	1.27	1.34	1.24	1.19	0.95	0.96
Long-Term Debt to Equity	1.10	1.11	1.09	1.21	1.25	1.27	1.34	1.24	1.19	0.95	0.96
Financial Leverage	1.09	1.01	0.99	1.07	1.17	1.18	1.20	1.21	1.21	1.08	1.11
Leverage Ratio	2.64	2.56	2.47	2.61	2.66	2.68	2.72	2.71	2.64	2.53	2.59
Compound Leverage Factor	0.78	1.81	-2.10	3.76	-7.62	4.49	3.45	2.25	1.87	2.19	1.81
Debt to Total Capital	52.31%	52.56%	52.16%	54.69%	55.53%	55.85%	57.25%	55.35%	54.42%	48.67%	48.98%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	52.31%	52.56%	52.16%	54.69%	55.53%	55.85%	57.25%	55.35%	54.42%	48.67%	48.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.49%	0.63%	0.87%	1.26%	1.75%	2.92%	3.51%	4.48%	5.48%	5.20%
Common Equity to Total Capital	47.69%	46.95%	47.21%	44.43%	43.22%	42.40%	39.82%	41.14%	41.09%	45.86%	45.82%
Debt to EBITDA	1.72	2.56	2.99	3.31	3.37	4.54	7.68	3.75	3.35	2.03	1.69
Net Debt to EBITDA	1.70	2.54	2.99	3.29	3.35	4.53	7.60	3.71	3.33	2.01	1.69
Long-Term Debt to EBITDA	1.72	2.56	2.99	3.31	3.37	4.54	7.68	3.75	3.35	2.03	1.69
Debt to NOPAT	4.21	13.58	31.52	-559.22	-36.35	-25.01	-147.20	28.30	2.27	5.27	5.84
Net Debt to NOPAT	4.17	13.50	31.45	-555.45	-36.18	-24.95	-145.62	28.06	2.26	5.22	5.81
Long-Term Debt to NOPAT	4.21	13.58	31.52	-559.22	-36.35	-25.01	-147.20	28.30	2.27	5.27	5.84
Altman Z-Score	1.01	0.89	0.81	0.75	0.84	1.04	0.98	1.62	1.29	1.68	1.46
Noncontrolling Interest Sharing Ratio	0.00%	0.53%	0.67%	0.98%	1.44%	2.49%	3.96%	4.93%	6.51%	7.71%	8.76%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.50	0.68	0.64	0.59	0.60	0.46	0.40	0.36	0.41	0.49	0.41
Quick Ratio	0.36	0.36	0.25	0.32	0.34	0.30	0.28	0.27	0.30	0.37	0.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4,728	-583	-683	-801	-574	-273	-31	-181	-384	-165	-551
Operating Cash Flow to CapEx	20.51%	67.89%	48.81%	35.30%	42.81%	95.39%	58.64%	100.94%	44.83%	61.35%	65.41%
Free Cash Flow to Firm to Interest Expense	-108.39	-12.15	-13.77	-15.42	-10.53	-5.00	-0.57	-3.29	-6.77	-2.95	-10.38
Operating Cash Flow to Interest Expense	1.62	4.76	3.46	1.61	1.80	4.89	3.19	6.30	2.70	4.00	5.13
Operating Cash Flow Less CapEx to Interest Expense	-6.29	-2.25	-3.63	-2.95	-2.41	-0.24	-2.25	0.06	-3.32	-2.52	-2.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.70	0.26	0.23	0.23	0.21	0.20	0.22	0.25	0.27	0.33	0.33
Accounts Receivable Turnover	0.00	4.22	7.31	7.85	7.00	6.18	8.41	10.07	10.95	10.64	12.16
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.31	0.27	0.26	0.24	0.23	0.25	0.29	0.31	0.37	0.37
Accounts Payable Turnover	0.00	0.35	0.42	0.41	0.46	0.41	0.44	0.44	0.41	0.36	0.34
Days Sales Outstanding (DSO)	0.00	86.46	49.93	46.50	52.12	59.11	43.41	36.25	33.33	34.31	30.03
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	1,039.75	865.81	891.64	796.92	884.99	838.42	836.57	879.76	1,014.64	1,089.47
Cash Conversion Cycle (CCC)	0.00	-953.28	-815.88	-845.14	-744.80	-825.89	-795.01	-800.32	-846.43	-980.34	-1,059.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,766	5,007	5,175	5,203	5,297	5,279	5,294	5,427	5,725	5,748	6,003
Invested Capital Turnover	0.89	0.33	0.29	0.28	0.26	0.24	0.27	0.31	0.33	0.40	0.41
Increase / (Decrease) in Invested Capital	4,766	631	674	736	531	272	120	224	427	469	709
Enterprise Value (EV)	5,517	5,113	5,312	5,915	6,255	8,363	9,131	11,288	9,176	9,894	9,444
Market Capitalization	3,033	2,464	2,584	3,033	3,253	5,325	5,958	8,105	5,812	6,793	6,198
Book Value per Share	$8.20	$8.47	$8.80	$7.94	$7.85	$7.67	$7.24	$7.66	$8.05	$9.03	$9.38
Tangible Book Value per Share	$6.99	$7.26	$7.59	$6.79	$6.70	$6.52	$6.10	$6.51	$6.91	$7.89	$8.24
Total Capital	4,786	5,024	5,181	5,222	5,311	5,286	5,327	5,453	5,744	5,772	6,018
Total Debt	2,503	2,640	2,702	2,856	2,949	2,952	3,050	3,018	3,126	2,809	2,948
Total Long-Term Debt	2,503	2,640	2,702	2,856	2,949	2,952	3,050	3,018	3,126	2,809	2,948
Net Debt	2,484	2,624	2,696	2,837	2,935	2,945	3,017	2,992	3,107	2,785	2,933
Capital Expenditures (CapEx)	345	336	351	237	229	280	298	344	342	365	416
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-353	-237	-204	-248	-214	-336	-552	-505	-400	-393	-437
Debt-free Net Working Capital (DFNWC)	-333	-220	-198	-229	-200	-329	-519	-479	-381	-369	-422
Net Working Capital (NWC)	-333	-220	-198	-229	-200	-329	-519	-479	-381	-369	-422
Net Nonoperating Expense (NNE)	23	-60	5.48	59	-17	54	204	-88	-75	17	46
Net Nonoperating Obligations (NNO)	2,484	2,624	2,696	2,837	2,935	2,945	3,017	2,992	3,107	2,785	2,933
Total Depreciation and Amortization (D&A)	150	188	193	198	211	205	171	161	160	161	145
Debt-free, Cash-free Net Working Capital to Revenue	-16.62%	-15.12%	-14.48%	-18.11%	-16.48%	-26.75%	-38.56%	-30.52%	-22.23%	-17.68%	-19.03%
Debt-free Net Working Capital to Revenue	-15.68%	-14.06%	-14.03%	-16.71%	-15.42%	-26.21%	-36.26%	-28.95%	-21.16%	-16.60%	-18.38%
Net Working Capital to Revenue	-15.68%	-14.06%	-14.03%	-16.71%	-15.42%	-26.21%	-36.26%	-28.95%	-21.16%	-16.60%	-18.38%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.05	$0.39	($0.05)	($0.43)	($0.09)	($0.19)	($0.40)	$0.45	$0.40	$0.98	$0.38
Adjusted Weighted Average Basic Shares Outstanding	277.00M	276.81M	277.96M	289.67M	290.17M	287.01M	290.30M	290.60M	291.10M	290.78M	291.32M
Adjusted Diluted Earnings per Share	$0.05	$0.39	($0.05)	($0.43)	($0.09)	($0.19)	($0.40)	$0.44	$0.40	$0.99	$0.38
Adjusted Weighted Average Diluted Shares Outstanding	277.00M	276.81M	277.96M	289.67M	290.17M	287.01M	290.30M	294.25M	293.95M	294.13M	291.32M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	278.43M	278.43M	292.20M	292.26M	292.26M	292.92M	292.92M	293.07M	293.05M	294.02M	293.70M
Normalized Net Operating Profit after Tax (NOPAT)	38	46	-8.99	-65	-44	-1.36	90	63	51	320	166
Normalized NOPAT Margin	10.08%	11.28%	-2.68%	-26.23%	-14.31%	-0.37%	17.51%	13.31%	11.39%	40.68%	28.35%
Pre Tax Income Margin	4.86%	27.90%	-6.78%	-68.61%	-13.27%	-36.83%	-50.44%	57.89%	30.39%	45.53%	21.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.42	3.39	0.54	-2.26	0.26	-1.48	-3.72	5.93	3.41	7.39	3.35
NOPAT to Interest Expense	0.87	1.00	-0.18	-1.25	-0.79	-0.02	1.61	0.78	0.76	5.42	2.98
EBIT Less CapEx to Interest Expense	-6.49	-3.62	-6.55	-6.82	-3.95	-6.60	-9.15	-0.31	-2.61	0.88	-4.49
NOPAT Less CapEx to Interest Expense	-7.04	-6.01	-7.27	-5.81	-4.99	-5.15	-3.82	-5.46	-5.26	-1.10	-4.86
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	22.75%	65.59%	165.77%	-483.43%	-67.07%	-1.67%	-1.84%	-12.26%	15.03%	3.93%	3.47%
Augmented Payout Ratio	24.51%	65.66%	165.77%	-529.70%	-79.43%	-4.80%	-3.98%	-12.45%	15.14%	3.94%	3.87%

Financials Breakdown Chart

Key Financial Trends

Comstock Resources (NYSE: CRK) has shown a mix of improving profitability and strong operating cash flow in the latest year, supported by ongoing access to capital markets. Over the four-year span leading into Q1 2026, revenue and earnings have been volatile, reflecting commodity price cycles, but cash generation from operations has remained positive and debt financing has continued to be utilized to fund capex and growth initiatives. The balance sheet remains sizable, with a meaningful equity base, though liquidity metrics point to some near-term liquidity risk given relatively low cash on hand and a current liability load versus current assets.

Net income attributable to common shareholders in Q1 2026 was $107.45 million, signaling a strong quarterly profit contributor after a number of softer periods.
Gross margin in Q1 2026 was robust (Total Gross Profit of $545.55 million on Total Revenue of $587.35 million, roughly 93% gross margin), indicating high profitability on current production and pricing.
Operating cash flow remains solid, with Net Cash From Continuing Operating Activities of $271.97 million in Q1 2026 (and $224.20 million in Q4 2025), underscoring resilient cash generation from core operations.
The company has maintained access to capital markets, with substantial debt issuances in 2025–2026 (e.g., Q1 2026 debt issuance of $387 million; prior quarters adding $210M, $205M, $130M, and $120M), providing liquidity to fund capex and working capital needs.
Balance sheet size is meaningful, with Total Assets around $7.24 billion in Q1 2026 and Total Equity around $3.07 billion, offering a solid equity cushion relative to liabilities.
Capital expenditures remain material, with quarterly purchases of Property, Plant & Equipment in the range of roughly $300–$420 million, implying ongoing growth investment and a negative free-cash-flow dynamic in the near term.
Cash on hand is relatively modest (about $14.8 million in Q1 2026), which can constrain near-term liquidity if operating cash flow slows or capex surges.
Revenue and earnings show cyclical volatility, with quarterly results swinging in line with commodity prices, even as the company achieves positive cash flow in many periods.
Near-term liquidity risk is highlighted by a higher current liability base than current assets in Q1 2026 (Total Current Assets about $290 million vs. Total Current Liabilities about $712 million), suggesting tighter short-term liquidity vs. peers with stronger working capital positions.
Long-term debt remains elevated (roughly $3.0 billion on the books across recent quarters), contributing to a meaningful leverage load that could pressure margins if commodity cycles worsen or debt costs rise.

05/14/26 06:28 PM ETAI Generated. May Contain Errors.

Comstock Resources Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Comstock Resources' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Comstock Resources' net income appears to be on a downward trend, with a most recent value of $420.20 million in 2025, falling from -$57.11 million in 2014. The previous period was -$218.75 million in 2024. See where experts think Comstock Resources is headed by visiting Comstock Resources' forecast page.

Comstock Resources' total operating income in 2025 was $645.85 million, based on the following breakdown:

Total Gross Profit: $2.05 billion
Total Operating Expenses: $1.41 billion

Over the last 10 years, Comstock Resources' total revenue changed from $555.23 million in 2014 to $2.22 billion in 2025, a change of 299.9%.

Comstock Resources' total liabilities were at $4.04 billion at the end of 2025, a 0.1% decrease from 2024, and a 195.8% increase since 2015.

In the past 10 years, Comstock Resources' cash and equivalents has ranged from $6.80 million in 2024 to $134.01 million in 2015, and is currently $23.93 million as of their latest financial filing in 2025.

Over the last 10 years, Comstock Resources' book value per share changed from 93.49 in 2014 to 9.03 in 2025, a change of -90.3%.

Related Companies

Financial statements for NYSE:CRK last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Comstock Resources (CRK) Financials

Financials Breakdown Chart

Key Financial Trends

Comstock Resources Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Comstock Resources (CRK) Financials

Annual Income Statements for Comstock Resources

Quarterly Income Statements for Comstock Resources

Annual Cash Flow Statements for Comstock Resources

Quarterly Cash Flow Statements for Comstock Resources

Annual Balance Sheets for Comstock Resources

Quarterly Balance Sheets for Comstock Resources

Annual Metrics And Ratios for Comstock Resources

Quarterly Metrics And Ratios for Comstock Resources

Financials Breakdown Chart

Key Financial Trends

Comstock Resources Financials - Frequently Asked Questions

When does Comstock Resources' financial year end?

How has Comstock Resources' net income changed over the last 10 years?

What is Comstock Resources' operating income?

How has Comstock Resources' revenue changed over the last 10 years?

How much debt does Comstock Resources have?

How much cash does Comstock Resources have?

How has Comstock Resources' book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools