Comstock Resources Inc (CRK)

Inventory turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	38,830	44,761	45,340	44,365	40,173	39,128	37,015	35,824	35,564	30,630	31,552	31,978	32,659	32,871	71,659	71,645	70,549	72,140	27,726	26,398
Inventory	US$ in thousands	—	23,973	17,553	40,170	34,819	2,368	2,086	2,601	5,015	26,392	10,765	4,627	3,080	8,830	-46,916	101,821	4,503	-55,516	14,284	2,356
Inventory turnover		—	1.87	2.58	1.10	1.15	16.52	17.74	13.77	7.09	1.16	2.93	6.91	10.60	3.72	—	0.70	15.67	—	1.94	11.20

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $38,830K ÷ $—K
= —

Based on the provided data, the inventory turnover ratio for Comstock Resources, Inc. is not calculable for the quarters provided in 2023 as the values are missing. However, in the fourth quarter of 2022, the inventory turnover ratio was 0.00. This implies that Comstock Resources, Inc. sold its inventory during that period at the same rate as its purchases or did not sell any inventory at all. A low or zero inventory turnover could indicate overstocking, slow sales, obsolete inventory, or inefficiencies in managing inventory levels. Further analysis is needed to assess the reasons behind the low turnover and potential implications for the company's operations and financial performance.