Comstock Resources Inc (CRK)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,583,860	2,747,940	556,921	632,473	658,858
Property, plant and equipment	US$ in thousands	5,384,770	4,622,660	4,007,150	4,084,550	4,008,800
Fixed asset turnover		0.29	0.59	0.14	0.15	0.16

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,583,860K ÷ $5,384,770K
= 0.29

Comstock Resources, Inc.'s fixed asset turnover ratio has fluctuated over the past five years, with values ranging from 0.19 to 0.78. A decline in fixed asset turnover from 0.78 in 2022 to 0.29 in 2023 indicates that the company's ability to generate sales from its fixed assets decreased significantly during the year.

A fixed asset turnover ratio of 0.29 means that for each dollar invested in fixed assets, the company generated $0.29 in sales. This could suggest inefficiency in utilizing its fixed assets to generate revenue compared to the previous year.

Furthermore, the trend in fixed asset turnover over the past five years shows some inconsistency, indicating potential challenges in effectively managing and utilizing the company's fixed assets to drive sales. It would be beneficial for Comstock Resources, Inc. to further evaluate its fixed asset utilization and explore strategies to enhance efficiency and productivity in this area for improved financial performance.