Comstock Resources Inc (CRK)

Current ratio

		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
Total current assets	US$ in thousands	461,493	327,184	282,166	422,824	644,987	708,824	530,811	268,022	318,736	309,592	224,878	244,043	199,810	149,830	187,610	267,837	289,685	268,398	151,441	134,123
Total current liabilities	US$ in thousands	681,491	659,961	762,062	628,311	756,137	1,091,530	964,661	938,487	633,984	1,063,460	655,525	433,584	441,592	380,782	290,966	327,619	392,376	389,460	228,625	198,086
Current ratio		0.68	0.50	0.37	0.67	0.85	0.65	0.55	0.29	0.50	0.29	0.34	0.56	0.45	0.39	0.64	0.82	0.74	0.69	0.66	0.68

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $461,493K ÷ $681,491K
= 0.68

The current ratio of Comstock Resources, Inc. has exhibited fluctuating trends over the past eight quarters. The ratio measures the company's ability to meet its short-term financial obligations by comparing its current assets to current liabilities.

In Q4 2023, the current ratio stood at 0.68, indicating that the company had $0.68 in current assets for every $1 in current liabilities. This represented an improvement compared to the previous quarter's ratio of 0.50, suggesting a better liquidity position. However, the current ratio in Q4 2023 was lower than Q4 2022, where it was 0.85.

The trend in the current ratio over the last eight quarters shows some variability, with fluctuations between 0.29 in Q1 2022 and 0.85 in Q4 2022. A ratio below 1 may raise concerns about the company's ability to cover its short-term obligations with its current assets. It indicates that the company may struggle to pay off its current liabilities if they all came due at once.

Overall, the current ratio of Comstock Resources, Inc. appears to have improved in Q4 2023 compared to the previous quarter but remains below the level observed in the same quarter of the previous year. Monitoring this ratio closely is essential to assess the company's liquidity position and its ability to meet its short-term financial obligations.