Comstock Resources Inc (CRK)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	2,358,410	2,278,310	1,012,780	1,266,770	1,143,020
Debt-to-equity ratio		1.12	0.94	2.58	1.99	2.19

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,640,390K ÷ $2,358,410K
= 1.12

Comstock Resources, Inc.'s debt-to-equity ratio has shown fluctuations over the past five years. In 2023, the ratio increased to 1.12 from 0.94 in 2022, indicating a higher level of debt relative to equity. This rise could raise concerns about the company's leverage and its ability to meet its financial obligations.

In 2021, the debt-to-equity ratio was significantly higher at 2.20, highlighting a substantial increase in debt compared to equity. This could suggest potential financial risk and a greater reliance on debt financing.

The ratio was 1.75 in 2020 and 1.64 in 2019, showing a decreasing trend over these years, which might indicate a reduction in debt levels compared to equity and potentially a more favorable financial position.

Overall, the fluctuating debt-to-equity ratio of Comstock Resources, Inc. over the years implies varying levels of debt utilization and financial leverage, highlighting the importance of monitoring the company's debt management practices to ensure sustainable financial health.