Comstock Resources Inc (CRK)

Debt-to-assets ratio

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
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 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
Debt-to-assets ratio 0.42 0.42 0.37 0.38 0.38 0.41 0.47 0.53 0.56 0.57 0.60 0.59 0.54 0.56 0.55 0.54 0.54 0.55 0.56 0.57

December 31, 2023 calculation

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

Comstock Resources, Inc.'s debt-to-assets ratio has displayed some fluctuations over the past eight quarters. In Q4 2023 and Q3 2023, the ratio stood at 0.42, indicating that 42% of the company's assets were financed by debt. This level of leverage is consistent with the previous quarters in 2022 when the ratio ranged from 0.38 to 0.47.

The ratio experienced a slight increase in Q2 2023 to 0.37, reflecting a lower level of debt relative to assets compared to preceding quarters. However, it increased again in Q1 2023 to 0.38. The highest debt-to-assets ratio was observed in Q1 2022 at 0.53, while the lowest was in Q2 2023 at 0.37.

Overall, the debt-to-assets ratio of Comstock Resources, Inc. has been relatively stable around the 0.4 range, indicating a moderate level of debt utilization to finance its operations and investments. The company appears to have maintained a balanced approach to capital structure, balancing the benefits and risks associated with debt financing.