Comstock Resources Inc (CRK)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | — | — | — | — | — | 55.49 | 80.85 | 35.11 | 36.15 | 446.26 | 410.06 | 291.80 | 150.14 | 27.87 | 63.61 | 143.25 | 215.30 | 76.81 | — | 5.61 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Comstock Resources Inc's inventory turnover ratio has shown significant fluctuations over the past few years, ranging from a low of 5.61 in March 2020 to a high of 446.26 in September 2022. This indicates that the company has been able to effectively manage its inventory levels and turn over its stock efficiently.
On the other hand, the receivables turnover ratio and payables turnover ratio for Comstock Resources Inc are not available, as the data for these ratios is missing for all the periods provided. This limits our ability to assess the company's efficiency in collecting receivables and managing payables.
Furthermore, the working capital turnover ratio data is also unavailable for all the periods, preventing us from evaluating how effectively the company generates revenue relative to its working capital.
In conclusion, while the inventory turnover ratio paints a positive picture of Comstock Resources Inc's inventory management efficiency, the lack of data for other activity ratios hinders a comprehensive analysis of the company's overall operational performance.
Average number of days
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | — | — | — | 6.58 | 4.51 | 10.40 | 10.10 | 0.82 | 0.89 | 1.25 | 2.43 | 13.10 | 5.74 | 2.55 | 1.70 | 4.75 | — | 65.02 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Comstock Resources Inc's activity ratios provide insight into how efficiently the company manages its inventory, collects receivables, and pays its payables.
1. Days of Inventory on Hand (DOH):
- The DOH measures how many days on average the company holds its inventory before selling it.
- Comstock Resources Inc's DOH fluctuated significantly over the periods provided, ranging from as high as 65.02 days to as low as 0.82 days.
- A lower DOH generally indicates better inventory management efficiency, as the company is selling inventory quickly and not holding excess stock.
2. Days of Sales Outstanding (DSO):
- DSO represents the average number of days it takes for the company to collect on its credit sales.
- Unfortunately, data on DSO for Comstock Resources Inc was not provided in the dataset, making it challenging to assess the efficiency of their accounts receivable collection.
3. Number of Days of Payables:
- This ratio indicates the average number of days the company takes to pay its suppliers and vendors.
- Similar to DSO, data on this ratio for Comstock Resources Inc was not available in the dataset, limiting our ability to evaluate their payables management.
In summary, while we can see fluctuations in Comstock Resources Inc's Days of Inventory on Hand, the lack of data for Days of Sales Outstanding and Number of Days of Payables restricts a comprehensive analysis of the company's overall activity efficiency.
Long-term
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | — | — | — | — | — | 0.39 | 0.58 | 0.73 | 0.78 | 0.75 | 0.60 | 0.49 | 0.46 | 0.35 | 0.27 | 0.23 | 0.21 | 0.22 | 0.23 | 0.22 |
| Total asset turnover | 0.20 | 0.20 | 0.22 | 0.22 | 0.24 | 0.34 | 0.50 | 0.62 | 0.63 | 0.59 | 0.50 | 0.43 | 0.40 | 0.30 | 0.24 | 0.21 | 0.19 | 0.19 | 0.20 | 0.19 |
Based on the provided data, Comstock Resources Inc's long-term activity ratios show some interesting trends.
1. Fixed Asset Turnover: This ratio measures how efficiently the company is generating sales from its fixed assets. Over the analysis period, the fixed asset turnover ratio steadily increased from 0.22 in March 2020 to a peak of 0.78 in December 2022. However, it declined thereafter, reaching 0.58 in June 2023, 0.39 in September 2023, and no data available from December 2023 onwards. This decline suggests potential issues with the company's ability to utilize its fixed assets effectively to generate revenues.
2. Total Asset Turnover: This ratio indicates how efficiently the company is utilizing all its assets to generate revenue. Similar to the fixed asset turnover, the total asset turnover ratio exhibited an increasing trend, starting from 0.19 in March 2020 and peaking at 0.63 in December 2022. However, the ratio declined in the subsequent periods, dropping to 0.22 in March 2024 and remaining relatively stable thereafter. This declining trend could indicate challenges in efficiently utilizing the company's total assets to drive revenue growth.
In conclusion, while the company initially showed improvements in asset turnover efficiency, the declining trends observed in both fixed asset turnover and total asset turnover ratios in the later periods suggest potential challenges in maintaining operational efficiency and generating revenue from its assets over the long term. Further analysis and investigation into the factors influencing these trends would be beneficial to understand the company's performance better.