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Comstock Resources (CRK) USD

At a glance: strengths & risks
✓Revenue growing (+77%)✓Margins improving (50%→58%)✓Cheaper than own history (EV/EBITDA 5.3 vs avg 6.8)

Sector: Natural gas

Geography: United States (Haynesville Shale)

COMM_CRK

Price chart

13.72 USDDay -2.14%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
13.72 USD · -2.14%
Market cap
4.0 bn USD

Growth

Δ revenue y/y
14.5%
Δ EBITDA y/y
7.6%

Multiples

P/E (LTM)
6.4x
3y avg: 14.3x
P/B (FY)
1.5x
P/E (ann.)
9.3x
EV/EBITDA (LTM)
5.3x
3y avg: 6.8x
EV/EBITDA (ann.)
5.5x

Cash return

Dividend yield
—
FCF yield (LTM)
-11.3%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+2.0%
↓ details

Liquidity

Daily turnover (listing)
32.9 mln USD

Shares: yahoo_fundamentals_timeseries/CRK

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK587.4
y/y 14.5%
174.9
y/y 38.6%
141.5
y/y -15.7%
316.4
y/y 7.6%
107.5
y/y —
272.0-415.87239.7
y/y 9.7%
2757.5
y/y 30.0%
15.9%3015.6Link
2025-12-31Q4 2025 (3M)OK787.3
y/y 114.3%
380.0
y/y 19688.9%
157.5
y/y -22.1%
537.5
y/y 168.5%
280.9
y/y 583.3%
224.2-365.27007.1
y/y 9.8%
2646.8
y/y 18.1%
15.8%2879.8Link
2025-09-30Q3 2025 (3M)OK449.9
y/y 47.7%
50.2
y/y —
157.4
y/y -24.5%
207.6
y/y 41.2%
111.1
y/y —
153.1-341.56841.0
y/y 8.4%
2360.3
y/y 2.8%
6.4%3183.9Link
2025-06-30Q2 2025 (3M)OK470.3
y/y 90.5%
89.4
y/y —
158.4
y/y -18.5%
247.8
y/y 143.6%
124.8
y/y —
347.6-344.36694.9
y/y 5.9%
2243.6
y/y -3.3%
22.9%3079.9Link
2025-03-31Q1 2025 (3M)OK512.9
y/y 52.7%
126.2
y/y —
167.9
y/y -12.0%
294.1
y/y 65.3%
-121.3
y/y —
174.7-298.36601.5
y/y 4.5%
2121.5
y/y -13.3%
-22.2%3114.9Link
2024-12-31Q4 2024 (3M)OK367.4
y/y -10.5%
-1.9
y/y -103.8%
202.1
y/y -38.0%
200.2
y/y -46.8%
-58.1
y/y -154.0%
267.1-280.06382.1
y/y 2.1%
2241.0
y/y -5.0%
-10.1%3019.0Link
2024-09-30Q3 2024 (3M)OK304.5
y/y -19.2%
-61.3
y/y -229.8%
208.3
y/y 40.6%
147.0
y/y -24.8%
-28.9
y/y -296.3%
98.2-229.36313.0
y/y 4.7%
2295.3
y/y 0.5%
-1.7%3017.5Link
2024-06-30Q2 2024 (3M)OK246.8
y/y -14.4%
-92.5
y/y —
194.2
y/y —
101.7
y/y —
-126.3
y/y —
83.6-236.76324.5
y/y 8.4%
2320.3
y/y 0.9%
-21.2%2927.3Link
2024-03-31Q1 2024 (3M)OK335.8
y/y -31.4%
-12.8
y/y -108.8%
190.7
y/y 42.3%
177.8
y/y -36.4%
-16.3
y/y -112.1%
171.5-351.56317.2
y/y 10.8%
2446.0
y/y 2.8%
-2.7%2793.7Link
2023-12-31Q4 2023 (3M)OK410.7
y/y —
50.8
y/y —
325.7
y/y —
376.5
y/y —
107.6
y/y —
228.2-328.66253.6
y/y —
2358.4
y/y —
9.1%2695.2Link
2023-09-30Q3 2023 (3M)OK376.7
y/y —
47.3
y/y —
148.2
y/y —
195.5
y/y —
14.7
y/y —
70.8-351.06031.1
y/y —
2282.8
y/y —
0.9%2631.7Link
2023-06-30Q2 2023 (3M)OK288.2
y/y —
-17.1
y/y —
0.0
y/y —
-17.1
y/y —
-45.7
y/y —
331.5-372.95836.7
y/y —
2300.2
y/y —
-7.8%2359.2Link
2023-03-31Q1 2023 (3M)OK489.6
y/y —
145.6
y/y —
134.0
y/y —
279.6
y/y —
134.5
y/y —
386.4-372.55700.9
y/y —
2380.2
y/y —
—2203.3Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-20002004006008002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-200%-100%0%100%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-200-10001002003002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

01 0002 0003 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Proved reserves
7 005 310 mln cfe
2025
Reserve life (R/P)
20.6 yrs
reserves ÷ annual output
Annual production
339 166 mln cfe
2025

Production, mln cfe

225 8392019459 8832020372 4742021368 1522022384 2412023403 6622024339 166202597 9192026

Proved reserves

YearReserves, mln cfe
20257 005 310
20243 764 080
20234 943 520
20226 700 860
20216 121 840
20205 628 900
20195 442 000

Production

YearProduction, mln cfeper day
202697 919 * (3M)
−14.9%		1 072 350 445
2025339 166
−16.0%		929 221 918
2024403 662
+5.1%		1 105 923 288
2023384 241
+4.4%		1 052 715 068
2022368 152
−1.2%		1 008 635 616
2021372 474
−19.0%		1 020 476 712
2020459 883
+103.6%		1 259 953 425
2019225 839618 736 986

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Henry Hub Gas

Current 3spot vs LTM -14%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +2.0% ▼ -0.3 pp 1d

Main driver: Henry Hub Gas -14% vs LTM; revenue ×0.88 vs costs ×1.04; EBITDA 1 309→995; at 6.9× EV/EBITDA → +2%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Henry Hub Gas (rev)+96%2.913.373.11-14%-8%
Pipeline Transportation of Crude Oil (cost)-5%351.95352.49350.17-0%-1%
WTI Crude Oil (rev)+4%91.8472.3176.26+27%+5%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue2 295
LTM EBITDA1 309
LTM cash costs (revenue − EBITDA)985
2 · Revenue projection
Revenue multiplier — spot×0.879 (-12%)
= Spot revenue2 018
Revenue multiplier — 3y price×0.928 (-7%)
= 3-year-price revenue2 129
3 · Costs projection
Cost multiplier — spot×1.038 (+4%)
= Spot cash costs1 023
Cost multiplier — 3y price×1.038 (+4%)
= 3-year-price cash costs1 022
4 · EBITDA projection (revenue − costs)
= Spot EBITDA995
= 3-year-price EBITDA1 107
Conservative EBITDA = min(spot, avg)995
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)6.9x
Target EV = EV/EBITDA × conservative EBITDA6 869
Net debt2 943
Target market cap = EV − net debt3 925
Current market cap3 849

Upside = target market cap ÷ current − 1 = +2.0%

Life of mine: 16 yrs

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q2288360-20.0%-17108-115.8%
2023 Q3377420-10.3%195135+44.6%
2023 Q4411445-7.7%236187+26.4%
2024 Q1336308+9.0%17884+110.7%
2024 Q2247327-24.6%102117-13.4%
2024 Q3304309-1.5%147140+4.8%
2024 Q4367400-8.1%200237-15.6%
2025 Q1513491+4.5%294330-10.9%
2025 Q2470442+6.4%248265-6.7%
2025 Q3450405+11.0%208209-0.7%
2025 Q4787537+46.6%538319+68.5%
2026 Q1587527+11.4%316288+9.8%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +77% vs -20% the year before — a +96.8 pp move. 3-year CAGR -15%.
revenue growth by year: 2023 -57% · 2024 -20% · 2025 +77%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 6.0x · target 75th pct (3y) 6.9x · LTM avg 10.4x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2023-11-300.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2023-08-310.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2023-05-310.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2023-02-280.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2022-11-300.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Comstock Resources (CRK) — from primary filings.

Comstock Resources is an independent energy company focused on the acquisition, exploration, development, and production of natural gas and oil properties in the United States, primarily in the Haynesville and Bossier shales of North Louisiana and East Texas.

Frequently asked questions

What is Comstock Resources (CRK)'s P/E ratio?
Comstock Resources (CRK) trades at a P/E of 6.4x (price to trailing 12-month earnings).
What is Comstock Resources (CRK)'s EV/EBITDA?
Comstock Resources (CRK) trades at 5.3x EV/EBITDA.
What is Comstock Resources (CRK)'s P/B ratio?
Comstock Resources (CRK) trades at a P/B of 1.5x.
What is Comstock Resources (CRK)'s return on equity (ROE)?
Comstock Resources (CRK)'s ROE is 15.0%.
What is Comstock Resources (CRK)'s market capitalization?
Comstock Resources (CRK)'s market cap is 4.0 bn USD.