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.