Comstock Resources Inc (CRK)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	226,597	696,436	1,420,247	2,086,431	2,277,583	2,055,773	1,580,441	1,077,820	900,774	704,707	421,326	278,741	163,032	161,974	225,969	265,679	274,886	254,655	212,876	176,654
Total assets	US$ in thousands	6,253,620	6,031,110	5,836,730	5,700,880	5,694,260	5,584,360	5,288,190	4,749,700	4,668,230	4,887,140	4,764,250	4,735,150	4,623,980	4,502,850	4,533,420	4,643,740	4,657,120	4,552,310	2,282,900	2,221,890
Operating ROA		3.62%	11.55%	24.33%	36.60%	40.00%	36.81%	29.89%	22.69%	19.30%	14.42%	8.84%	5.89%	3.53%	3.60%	4.98%	5.72%	5.90%	5.59%	9.32%	7.95%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $226,597K ÷ $6,253,620K
= 3.62%

Comstock Resources, Inc.'s operating return on assets (operating ROA) has shown volatility over the past eight quarters. The operating ROA ranged from a low of 3.62% in Q4 2023 to a high of 40.06% in the same period of the previous year. This indicates fluctuations in the company's ability to generate operating income from its assets.

The general trend shows a decline in operating ROA from Q1 2023 to Q4 2023, with a significant drop from 36.65% to 3.62%. This could suggest a decrease in operating efficiency or profitability relative to the company's asset base in the most recent quarter.

Comparing the latest operating ROA to historical performance, the current value of 3.62% is the lowest in the given period. This may raise concerns about the company's operational performance and its ability to generate profits from its assets.

Overall, a declining trend in operating return on assets for Comstock Resources, Inc. suggests a need for further analysis to identify the reasons behind the decrease and potential areas for improvement in operational efficiency and profitability.