A Business at a Glance
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COMSTOCK RESOURCES INC
CRK
$4.0B
Mkt Cap
$13.52
-1.46%
COMSTOCK RESOURCES INC (CRK) has a current P/E ratio of 9.5, compared to its historical median P/E of 11.8. The stock is currently considered Fair based on its historical valuation range.
COMSTOCK RESOURCES INC (CRK) has a 5-year average return on invested capital (ROIC) of 16.1%. This indicates strong capital allocation and a potential competitive advantage.
COMSTOCK RESOURCES INC (CRK) has a market capitalization of $4.0B. It is classified as a mid-cap stock.
COMSTOCK RESOURCES INC (CRK) does not currently pay a regular dividend.
Based on historical P/E analysis, COMSTOCK RESOURCES INC (CRK) appears fair. The current P/E of 9.5 is 20% below its historical median of 11.8. The estimated fair value CAGR (P/E method) is 35.6%.
COMSTOCK RESOURCES INC (CRK) operates in the Crude Petroleum & Natural Gas industry, within the Energy sector.
COMSTOCK RESOURCES INC (CRK) reported annual revenue of $2.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
We are a leading independent natural gas producer operating primarily in the Haynesville shale, a premier natural gas basin located in North Louisiana and East Texas with superior economics given its geographical proximity to the Gulf Coast natural gas markets. As of December 31, 2025, substantially all of our proved natural gas and oil reserves were in the Haynesville and Bossier shale plays. We are focused on creating value through the development of our substantial inventory of highly economic drilling opportunities in the Haynesville and Bossier shales and through our exploration activities in our Western Haynesville play. Our common stock is listed and traded on the New York Stock Exchange and New York Stock Exchange Texas under the symbol "CRK". Our operations are concentrated in Louisiana and Texas. Our natural gas and oil properties are estimated to have proved reserves of 7.0 Tcfe with a PV 10 Value of $4.5 billion as of December 31, 2025 based on SEC prices.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.3B | 2.2B | 1.3B | 1.6B | 3.6B | 1.9B |
| Net Income | 648M | 420M | -219M | 212M | 1.1B | -259M |
| EPS | $2.21 | $1.43 | $-0.76 | $0.76 | $4.11 | $-1.12 |
| Free Cash Flow | -470M | -450M | -477M | -408M | 631M | 170M |
| ROIC | 8.9% | 10.0% | -4.3% | 4.1% | 46.0% | 24.5% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 1.07 | 1.10 | 1.35 | 1.15 | 0.98 | 2.59 |
| Dividends/Share | $0.00 | $0.00 | $0.00 | $0.50 | $0.13 | $0.00 |
| Operating Income | 695M | 646M | -169M | 227M | 2.3B | 901M |
| Operating Margin | 30.3% | 29.1% | -13.4% | 14.5% | 62.9% | 48.7% |
| ROE | 23.5% | 17.2% | -9.5% | 9.1% | 68.4% | -22.7% |
| Shares Outstanding | 294M | 294M | 288M | 279M | 274M | 231M |
| Metric | 2015 | 2016 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 555M | N/A | 123M | 255M | 549M | 769M | 858M | 1.9B | 3.6B | 1.6B | 1.3B | 2.2B | 2.3B |
| Gross Margin | N/A | N/A | -130.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 32M | 24M | 24M | 26M | 27M | 29M | 32M | 35M | 39M | 38M | 39M | 49M | 56M |
| EBIT | -32M | -1.2B | -184M | N/A | 207M | 275M | 163M | 901M | 2.3B | 227M | -169M | 646M | 695M |
| Op. Margin | -5.8% | N/A | -149.9% | N/A | 37.7% | 35.8% | 19.0% | 48.7% | 62.9% | 14.5% | -13.4% | 29.1% | 30.3% |
| Net Income | -57M | -1.0B | -135M | -111M | 82M | 74M | -83M | -259M | 1.1B | 212M | -219M | 420M | 648M |
| Net Margin | -10.3% | N/A | -110.2% | -43.6% | 15.0% | 9.7% | -9.7% | -14.0% | 31.0% | 13.5% | -17.4% | 18.9% | 28.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | -25K | 17K | -162M | 340K | 125K | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -3.1% | -97.1% | -17.5% | N/A | 12.7% | 7.9% | 4.4% | 24.5% | 46.0% | 4.1% | -4.3% | 10.0% | 8.9% |
| ROE | -6.3% | -299.6% | N/A | 34.8% | 82.3% | 8.7% | -6.9% | -22.7% | 68.4% | 9.1% | -9.5% | 17.2% | 23.5% |
| ROA | -2.6% | -60.5% | -15.2% | -12.2% | 5.3% | 2.2% | -1.8% | -5.6% | 21.7% | 3.5% | -3.5% | 6.3% | 9.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 401M | 30M | -24M | 175M | 0 | 451M | 576M | 861M | 1.7B | 1.0B | 620M | 900M | 997M |
| Free Cash Flow | -234M | -234M | -81M | -5.9M | N/A | -36M | 66M | 170M | 631M | -408M | -477M | -450M | -470M |
| Owner Earnings | 12M | -299M | -170M | 45M | 0 | 171M | 152M | 385M | 1.2B | 399M | -190M | 237M | 358M |
| CapEx | 635M | 264M | 57M | 180M | 0 | 487M | 510M | 691M | 1.1B | 1.4B | 1.1B | 1.3B | 1.5B |
| Maint. CapEx | 378M | 321M | 141M | 124M | 0 | 277M | 417M | 469M | 489M | 608M | 795M | 641M | 615M |
| Growth CapEx | 257M | 0 | 0 | 57M | N/A | 210M | 93M | 222M | 578M | 817M | 302M | 708M | 852M |
| D&A | 378M | 321M | 141M | 124M | 0 | 277M | 417M | 469M | 489M | 608M | 795M | 641M | 615M |
| CapEx/OCF | 158.3% | 878.2% | N/A | 103.4% | N/A | 107.9% | 88.5% | 80.2% | 62.9% | 140.1% | 176.9% | 150.0% | 147.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 24M | 0 | 24M | 0 | 0 | 18M | 0 | 0 | 35M | 139M | 0 | 0 | 0 |
| Dividend Yield | 0.2% | N/A | 35.2% | N/A | N/A | 2.0% | N/A | N/A | 0.9% | 4.5% | N/A | N/A | N/A |
| Share Buybacks | 8.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 11M | 8.1M | 4.7M | 5.9M | N/A | 4.0M | 6.5M | 6.8M | 6.6M | 9.9M | 15M | 21M | 24M |
| Debt Repayment | 100M | 465M | 465M | 8.0M | 0 | 0 | 0 | 1.3B | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 1.1B | 1.1B | 913M | 1.0B | 1.2B | 2.5B | 2.5B | 2.6B | 2.2B | 2.7B | 3.0B | 2.9B | 2.9B |
| Cash & Equiv. | 2.1M | 134M | 66M | 61M | 23M | 19M | 30M | 31M | 55M | 17M | 6.8M | 24M | 15M |
| Long-Term Debt | 1.1B | 1.2B | 1.0B | 1.1B | 1.2B | 2.5B | 2.5B | 2.6B | 2.2B | 2.6B | 3.0B | 2.8B | 2.9B |
| Debt/Equity | 1.22 | -7.30 | -3.85 | -3.01 | 2.18 | 2.19 | 1.99 | 2.59 | 0.98 | 1.15 | 1.35 | 1.10 | 1.07 |
| Interest Coverage | -0.5 | -9.8 | -1.4 | N/A | 1.9 | 1.7 | 0.7 | 4.1 | 13.3 | 1.3 | -0.8 | 2.9 | 3.1 |
| Equity | 870M | -171M | -271M | -369M | 570M | 1.1B | 1.3B | 1.0B | 2.3B | 2.4B | 2.2B | 2.6B | 2.8B |
| Total Assets | 2.3B | 1.2B | 890M | 930M | 2.2B | 4.7B | 4.6B | 4.7B | 5.7B | 6.3B | 6.4B | 7.0B | 7.2B |
| Total Liabilities | 1.4B | 1.4B | 1.2B | 1.3B | 1.6B | 3.1B | 3.2B | 3.5B | 3.4B | 3.9B | 4.0B | 4.0B | 4.2B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 366M | -681M | -816M | -927M | 64M | 139M | 55M | -204M | 886M | 958M | 729M | 1.1B | 1.2B |
| Working Capital | -101M | 61M | -1.5M | 134M | -47M | -103M | -242M | -315M | -111M | -220M | -329M | -369M | -422M |
| Current Assets | 61M | 156M | 90M | 303M | 159M | 290M | 200M | 319M | 645M | 461M | 284M | 361M | 290M |
| Current Liabilities | 162M | 96M | 92M | 168M | 207M | 392M | 442M | 634M | 756M | 681M | 613M | 730M | 712M |
| Per Share Data | |||||||||||||
| EPS | -0.44 | -113.53 | -11.52 | -0.54 | 0.78 | 0.52 | -0.39 | -1.12 | 4.11 | 0.76 | -0.76 | 1.43 | 2.21 |
| Owner EPS | 0.09 | -32.46 | -14.48 | 0.22 | 0.00 | 1.19 | 0.71 | 1.66 | 4.39 | 1.43 | -0.66 | 0.81 | 1.22 |
| Book Value | 6.75 | -18.57 | -23.13 | -1.80 | 5.39 | 7.98 | 5.92 | 4.38 | 8.32 | 8.46 | 7.79 | 9.01 | 9.39 |
| Cash Flow/Share | 3.11 | 3.26 | -2.02 | 0.85 | N/A | 3.15 | 2.69 | 3.72 | 6.21 | 3.65 | 2.16 | 3.06 | 4.30 |
| Dividends/Share | 0.18 | N/A | 2.50 | N/A | N/A | 0.12 | 0.00 | 0.00 | 0.13 | 0.50 | 0.00 | 0.00 | 0.00 |
| Shares Out. | 129.0M | 9.2M | 11.7M | 205.0M | 105.7M | 143.2M | 213.9M | 231.5M | 273.7M | 278.8M | 287.8M | 293.8M | 293.7M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 5.6 | 13.6 | N/A | N/A | 3.1 | 11.8 | N/A | 16.5 | 6.1 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | 13.4 | 11.3 | 5.6 | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | 67.8 | 8.1 | 12.6 | 20.5 | 5.0 | 2.4 | 22.5 | N/A | 14.4 | 9.9 |
| Price/Book | 1.7 | N/A | N/A | N/A | 0.8 | 0.9 | 0.7 | 1.9 | 1.5 | 1.1 | 2.3 | 2.5 | 1.4 |
| Price/Sales | 7.7 | N/A | 0.6 | 0.4 | 1.5 | 1.1 | 1.3 | 0.8 | 1.1 | 1.9 | 2.6 | 2.6 | 1.7 |
| FCF Yield | -15.7% | -294.3% | -72.8% | -5.3% | N/A | -3.5% | 7.5% | 8.9% | 18.0% | -16.5% | -9.2% | -6.9% | -11.8% |
| Market Cap | 1.5B | 80M | 111M | 111M | 462M | 1.0B | 882M | 1.9B | 3.5B | 2.5B | 5.2B | 6.5B | 4.0B |
| Avg. Price | 92.31 | 16.41 | 5.77 | 7.24 | 7.88 | 6.15 | 5.28 | 6.37 | 13.94 | 10.97 | 10.66 | 20.57 | 13.52 |
| Year-End Price | 32.33 | 8.63 | 9.50 | 7.56 | 4.37 | 7.06 | 4.12 | 8.29 | 12.82 | 8.93 | 17.09 | 23.55 | 13.52 |
COMSTOCK RESOURCES INC passes 3 of 9 quality checks, indicating weak fundamentals.
COMSTOCK RESOURCES INC trades at 9.5x trailing earnings, compared to its 15-year median P/E of 11.8x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 16.1%. At current prices, the estimated annualized return to fair value is +50.9%.
COMSTOCK RESOURCES INC (CRK) has a net profit margin of 18.9%. This is a healthy margin.
COMSTOCK RESOURCES INC (CRK) generated $-450 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
COMSTOCK RESOURCES INC (CRK) has a debt-to-equity ratio of 1.10. This indicates moderate leverage.
COMSTOCK RESOURCES INC (CRK) reported earnings per share (EPS) of $1.43 in its most recent fiscal year.
COMSTOCK RESOURCES INC (CRK) has a return on equity (ROE) of 17.2%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 18 years of financial data for COMSTOCK RESOURCES INC (CRK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
COMSTOCK RESOURCES INC (CRK) has a book value per share of $9.01, based on its most recent annual SEC filing.