Comstock Resources Inc (CRK)

Debt-to-capital 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 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
Debt-to-capital ratio		0.53	0.52	0.49	0.48	0.49	0.58	0.66	0.74	0.72	0.81	0.75	0.71	0.67	0.68	0.66	0.68	0.69	0.70	0.68	0.68

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,640,390K ÷ ($2,640,390K + $2,358,410K)
= 0.53

Comstock Resources, Inc.'s debt-to-capital ratio has been fluctuating over the past eight quarters. The ratios range from 0.48 to 0.70, indicating variability in the company's capital structure during this period.

The trend shows a slight decrease in the ratio from Q4 2022 to Q1 2023, which suggests a potential improvement in managing the company's debt relative to its total capital. However, the ratio increased slightly in Q2 and Q3 2023 before dropping again in Q4 2023.

With ratios mostly above 0.50, Comstock Resources, Inc. appears to have a significant level of debt relative to its capital across the analyzed period. This could indicate a reliance on debt financing to support its operations and growth strategies.

Further analysis and comparison with industry benchmarks are recommended to gain a deeper understanding of the company's leverage and financial risk.