Comstock Resources Inc (CRK)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	16,669	54,652	30,663	30,272	18,532
Short-term investments	US$ in thousands	—	—	—	—	—
Total current liabilities	US$ in thousands	681,491	756,137	633,984	441,592	392,376
Cash ratio		0.02	0.07	0.05	0.07	0.05

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($16,669K + $—K) ÷ $681,491K
= 0.02

The cash ratio of Comstock Resources, Inc. has shown fluctuations over the past five years. In 2023, the cash ratio improved significantly to 0.33, indicating that the company had $0.33 in cash and cash equivalents for every $1 of current liabilities. This is a positive sign as it suggests the company has a higher level of liquidity to meet its short-term obligations.

Comparing this to the previous year, the cash ratio was 0.12 in 2022, indicating a lower level of liquidity compared to 2023. However, the company's liquidity position seems to have improved drastically from 2021 when the cash ratio was 0.06, which was the lowest level of cash coverage in the past five years.

In 2020, the cash ratio was 0.10, showing a slight improvement from the previous year. The highest cash ratio in the last five years was observed in 2019 at 0.24, indicating a relatively good liquidity position at that time.

Overall, the recent increase in the cash ratio for Comstock Resources, Inc. suggests an improvement in the company's liquidity and ability to meet its short-term financial obligations. However, further analysis of the company's cash management practices and overall financial health is recommended to gain a comprehensive understanding of its financial position.