Comstock Resources Inc (CRK)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 246,212 | 1,401,940 | -230,322 | -61,627 | 124,692 |
| Revenue | US$ in thousands | 1,583,860 | 2,747,940 | 556,921 | 632,473 | 658,858 |
| Pretax margin | 15.55% | 51.02% | -41.36% | -9.74% | 18.93% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $246,212K ÷ $1,583,860K
= 15.55%
The pretax margin of Comstock Resources, Inc. has fluctuated significantly over the past five years, as shown by the data provided. In 2023, the pretax margin decreased to 15.78% from 38.64% in 2022. This decline indicates a reduction in the company's ability to generate profits before accounting for taxes relative to its revenue.
The sharp decrease in pretax margin from 2022 to 2023 may be attributed to various factors such as changes in operating expenses, interest expenses, or fluctuations in revenue. It is important for stakeholders to further investigate the underlying reasons for this decline to assess the company's financial health and operational efficiency.
Additionally, the negative pretax margins in 2021 and 2020 (-12.44% and -7.18% respectively) suggest that the company incurred losses before accounting for taxes during those years. This indicates financial challenges or inefficiencies in generating profits.
However, in 2019, the pretax margin was positive at 16.22%, indicating a healthy profitability level relative to revenue. Overall, the fluctuating trend in the pretax margin of Comstock Resources, Inc. reflects varying financial performance over the years, warranting a closer examination of the company's operations and strategic decisions.
Peer comparison
Dec 31, 2023