Comstock Resources Inc (CRK)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	2,640,390	2,152,570	2,615,240	2,517,150	2,500,130
Total assets	US$ in thousands	6,253,620	5,694,260	4,668,230	4,623,980	4,657,120
Debt-to-assets ratio		0.42	0.38	0.56	0.54	0.54

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,640,390K ÷ $6,253,620K
= 0.42

The debt-to-assets ratio of Comstock Resources, Inc. has exhibited fluctuations over the past five years. In 2023, the ratio increased to 0.42 from 0.38 in 2022. This suggests that the company's debt relative to its total assets increased during the year. However, despite this increase, the ratio remains below the levels observed in 2021, 2020, and 2019, indicating a relatively lower proportion of debt in relation to the company's total assets in 2023 compared to those years.

The trend in the debt-to-assets ratio over the five-year period indicates fluctuations without a clear linear pattern. It is important to note that a lower debt-to-assets ratio generally signifies lower financial risk, as it indicates that a company has more assets available to cover its debt obligations. Conversely, a higher ratio could indicate a higher level of financial risk, as it suggests a greater reliance on debt financing relative to the company's asset base.

In summary, while the increase in the debt-to-assets ratio in 2023 compared to 2022 suggests a higher level of debt relative to assets during the year, the ratio remains lower than in previous years. Further analysis and consideration of the company's overall financial health, debt structure, and business strategy would be necessary to fully assess the implications of the debt-to-assets ratio for Comstock Resources, Inc.