Comstock Resources Inc (CRK)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Inventory turnover | — | — | 37.31 | 150.14 | 215.30 |
| Receivables turnover | — | — | — | — | — |
| Payables turnover | — | — | — | — | — |
| Working capital turnover | — | — | — | — | — |
Comstock Resources Inc's activity ratios provide insights into the efficiency of the company's operations.
1. Inventory Turnover: The inventory turnover ratio reflects how many times inventory is sold and replaced during a specific period. In 2020, Comstock Resources had a high inventory turnover of 215.30, indicating efficient management of inventory. However, the ratio decreased to 150.14 in 2021 and significantly dropped to 37.31 in 2022, suggesting possible issues with sales or inventory management.
2. Receivables Turnover: This ratio shows how many times receivables are collected and replaced in a given period. All data points are missing for Comstock Resources, indicating a lack of information on the company's efficiency in collecting receivables.
3. Payables Turnover: The payables turnover ratio measures how efficiently a company pays its suppliers. Similar to receivables, there is no data available for this ratio for Comstock Resources, making it difficult to assess the company's payment practices.
4. Working Capital Turnover: This ratio evaluates how effectively a company uses its working capital to generate revenue. Unfortunately, all data points for this ratio are missing, preventing an assessment of Comstock Resources' working capital efficiency.
Overall, based on the available data, Comstock Resources Inc's inventory turnover has shown some fluctuations, but the lack of information on receivables turnover, payables turnover, and working capital turnover hinders a comprehensive analysis of the company's overall activity efficiency.
Average number of days
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | 9.78 | 2.43 | 1.70 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — |
Comstock Resources Inc's Days of Inventory on Hand (DOH) has shown an increasing trend over the years, indicating that the company is holding inventory for a longer period before selling it. This could potentially tie up cash and lead to higher storage costs.
The Days of Sales Outstanding (DSO) and Number of Days of Payables data is not available for analysis, which limits our ability to assess the efficiency of the company in collecting receivables and paying its suppliers.
Overall, the increase in Days of Inventory on Hand suggests that Comstock Resources Inc may need to evaluate its inventory management practices to optimize working capital and improve overall efficiency in its operations.
Long-term
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Fixed asset turnover | — | — | 0.78 | 0.46 | 0.21 |
| Total asset turnover | 0.20 | 0.25 | 0.64 | 0.40 | 0.19 |
Comstock Resources Inc has shown a significant improvement in its Fixed Asset Turnover ratio over the years, increasing from 0.21 in 2020 to 0.78 in 2022. This indicates that the company is generating more revenue from its fixed assets, reflecting improved efficiency in utilizing its long-term assets to generate sales.
However, it is concerning that the Fixed Asset Turnover ratio data is missing for 2023 and 2024, which makes it difficult to assess the trend accurately for those years.
In terms of Total Asset Turnover, Comstock Resources Inc has exhibited fluctuating performance. The ratio increased from 0.19 in 2020 to 0.64 in 2022, indicating that the company was generating higher sales relative to its total assets. However, there was a sharp decline to 0.25 in 2023 and a further decrease to 0.20 in 2024.
Overall, the company should aim to sustain the positive trends seen in its Fixed Asset Turnover ratio and address the decline observed in its Total Asset Turnover ratio to ensure efficient utilization of its assets in generating sales.