Comstock Resources Inc (CRK)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Inventory turnover | — | 1.18 | 7.22 | 10.80 | 15.73 |
| Receivables turnover | 6.61 | 5.39 | 2.08 | 4.53 | 4.39 |
| Payables turnover | 0.08 | 0.08 | 0.12 | 0.13 | 0.28 |
| Working capital turnover | — | — | — | — | — |
The inventory turnover ratio for Comstock Resources, Inc. is not provided for the years 2020 to 2023, indicating that the company may not hold inventory or that the data is not available.
The receivables turnover ratio has been relatively stable over the past five years, ranging from 4.06 in 2019 to 6.96 in 2022. This ratio measures how efficiently the company is collecting on its sales credit. A higher ratio indicates a quicker collection process, which can help improve cash flow.
The payables turnover ratio for Comstock Resources, Inc. is not available for the years 2020 to 2023. This ratio is used to assess how quickly a company pays its suppliers. A higher ratio suggests that the company is paying its suppliers more quickly.
The working capital turnover ratio data is not provided for any of the years. This ratio could help evaluate how efficiently the company is using its working capital to generate sales.
In conclusion, the analysis of Comstock Resources, Inc. activity ratios indicates a stable trend in receivables turnover but lacks information on inventory turnover, payables turnover, and working capital turnover for a comprehensive assessment of the company's operational efficiency.
Average number of days
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | 310.43 | 50.59 | 33.81 | 23.21 |
| Days of sales outstanding (DSO) | days | 55.25 | 67.76 | 175.47 | 80.57 | 83.09 |
| Number of days of payables | days | 4,814.59 | 4,726.95 | 3,173.16 | 2,846.10 | 1,303.87 |
Based on the activity ratios of Comstock Resources, Inc. over the past five years, we can observe the following trends:
1. Days of Inventory on Hand (DOH): The data provided does not include information on the days of inventory on hand for any of the years. This ratio indicates how quickly the company is able to turn its inventory into sales. Without this data, we are unable to evaluate the efficiency of Comstock Resources in managing its inventory levels.
2. Days of Sales Outstanding (DSO): The days of sales outstanding measure the average number of days it takes for the company to collect revenue after a sale is made. From 2019 to 2023, we can see a decreasing trend in DSO, indicating an improvement in the company's collection process efficiency. The decrease from 89.80 days in 2019 to 55.31 days in 2023 suggests that Comstock Resources has been more effective in converting its sales into cash in a shorter period.
3. Number of Days of Payables: Unfortunately, the data table does not provide information on the number of days of payables, which would have shown how long the company takes to pay its suppliers. This ratio is essential in understanding the company's relationship with its suppliers and its cash flow management.
In conclusion, while there is a positive trend in the days of sales outstanding for Comstock Resources, the lack of data on inventory and payables makes it challenging to provide a comprehensive analysis of the company's overall efficiency in managing its working capital.
Long-term
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Fixed asset turnover | 0.29 | 0.59 | 0.14 | 0.15 | 0.16 |
| Total asset turnover | 0.25 | 0.48 | 0.12 | 0.14 | 0.14 |
Comstock Resources, Inc.'s long-term activity ratios indicate the efficiency of the company in managing its fixed and total assets over the past five years.
The fixed asset turnover has shown fluctuations over the period, ranging from a low of 0.19 in 2019 to a high of 0.78 in 2022. A decreasing trend from 2022 to 2023 is observed, which may indicate that the company is less effective in generating sales revenue relative to its investment in fixed assets.
On the other hand, the total asset turnover ratio reflects a similar trend, with values ranging from 0.17 in 2019 to 0.64 in 2022. The company's ability to generate sales from its total assets improved significantly in 2022 but decreased in 2023, suggesting a potential decrease in asset utilization efficiency.
Overall, the analysis of Comstock Resources, Inc.'s long-term activity ratios shows fluctuations in asset turnover efficiency over the years, indicating the need for further examination to determine the underlying factors contributing to these trends.