Comstock Resources Inc (CRK)

Pretax margin

		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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	-367,829	-117,941	-59,199	50,004	246,989	733,665	1,173,743	1,719,208	1,401,943	1,246,645	523,909	-209,276	-230,322	-557,404	-465,689	-279,138	-61,627	-112,781	70,472	160,302
Revenue (ttm)	US$ in thousands	1,253,580	1,293,550	1,365,815	1,407,196	1,561,002	2,076,910	2,890,173	3,548,216	3,583,479	3,316,471	2,637,647	2,035,086	1,850,730	1,470,125	1,136,960	972,802	858,195	872,672	919,105	867,686
Pretax margin		-29.34%	-9.12%	-4.33%	3.55%	15.82%	35.32%	40.61%	48.45%	39.12%	37.59%	19.86%	-10.28%	-12.44%	-37.92%	-40.96%	-28.69%	-7.18%	-12.92%	7.67%	18.47%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-367,829K ÷ $1,253,580K
= -29.34%

Comstock Resources Inc's pretax margin fluctuated over the period in question. The pretax margin was positive and relatively stable from March 2020 to June 2022, with values ranging from 7.67% to 39.12%. However, in the subsequent quarters, the pretax margin turned negative, indicating that the company's pre-tax profit was insufficient to cover its operating expenses. Notably, the pretax margin reached its lowest point in June 2024 at -4.33% and December 2024 at -29.34%.

The positive pretax margins observed from March 2020 to June 2022 suggest that the company was effectively generating profit before accounting for taxes. Conversely, the negative pretax margins from March 2023 to December 2024 indicate financial challenges that may have impacted the company's profitability. It is important for stakeholders to monitor these fluctuations in pretax margin closely as they can provide insights into the company's operational efficiency and financial health.