Comstock Resources Inc (CRK)

Payables 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
Payables	US$ in thousands	523,260	503,564	552,315	443,501	530,195	617,463	454,752	318,736	314,569	324,811	292,998	280,696	259,284	202,174	173,411	215,338	252,994	231,707	154,122	155,574
Payables turnover		0.07	0.09	0.08	0.10	0.08	0.06	0.08	0.11	0.11	0.09	0.11	0.11	0.13	0.16	0.41	0.33	0.28	0.31	0.18	0.17

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $38,830K ÷ $523,260K
= 0.07

The payables turnover ratio for Comstock Resources, Inc. has been consistently reported as 0.00 for the past eight quarters. This indicates that the company is not effectively utilizing its accounts payable to finance its operations or manage its cash flow. A payables turnover ratio of 0.00 may suggest that the company is not effectively managing its trade payables or is not utilizing credit terms to its advantage. It is important for the company to delve deeper into its payables management practices to improve its operational efficiency and overall financial performance.