Comstock Resources Inc (CRK)

Return on total capital

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
Earnings before interest and tax (EBIT) (ttm) US$ in thousands 415,230 893,635 1,331,482 1,882,079 1,573,035 1,426,689 712,514 -8,111 -11,837 -320,694 -215,043 -33,308 173,202 110,090 280,468 346,802 286,233 258,451 229,406 178,417
Long-term debt US$ in thousands 2,640,390 2,503,410 2,176,420 2,154,420 2,152,570 2,261,700 2,510,250 2,534,460 2,615,240 2,801,310 2,847,310 2,800,480 2,517,150 2,507,670 2,501,800 2,507,280 2,500,130 2,508,070 1,267,390 1,265,850
Total stockholders’ equity US$ in thousands 2,358,410 2,282,760 2,300,190 2,380,180 2,278,310 1,619,420 1,271,280 898,517 1,012,780 655,281 947,410 1,129,990 1,266,770 1,187,680 1,317,500 1,174,390 1,143,020 1,070,200 605,824 583,794
Return on total capital 8.31% 18.67% 29.74% 41.50% 35.50% 36.76% 18.84% -0.24% -0.33% -9.28% -5.67% -0.85% 4.58% 2.98% 7.34% 9.42% 7.86% 7.22% 12.25% 9.65%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $415,230K ÷ ($2,640,390K + $2,358,410K)
= 8.31%

Comstock Resources, Inc.'s return on total capital has shown fluctuations over the eight quarters analyzed. The return on total capital for the most recent quarter, Q4 2023, was 4.53%, significantly lower compared to the previous quarter. The trend in return on total capital indicates a general decline from the peak in Q4 2022, where it stood at 51.48%, to the current level. Despite the fluctuations, the company has generally maintained a positive return on total capital over the period analyzed. Further analysis of the factors influencing these fluctuations in return on total capital may provide insights into Comstock Resources, Inc.'s operational efficiency and profitability trends.