Comstock Resources Inc (CRK)

Debt-to-equity 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-equity ratio 1.12 1.10 0.95 0.91 0.94 1.40 1.97 2.82 2.58 4.27 3.01 2.48 1.99 2.11 1.90 2.13 2.19 2.34 2.09 2.17

December 31, 2023 calculation

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

The debt-to-equity ratio of Comstock Resources, Inc. has been fluctuating over the past eight quarters. In Q1 2022, the ratio was significantly high at 2.36, indicating a higher level of debt relative to equity in the company's capital structure. Subsequently, there was a decreasing trend in the ratio, reaching its lowest point of 0.91 in Q1 2023. This suggests that the company improved its leverage position by reducing its debt or increasing its equity during this period.

However, the ratio increased in Q2 2023 to 0.95 and further to 1.10 in Q3 2023, showing a reversal in the declining trend. By Q4 2023, the ratio stood at 1.12, still higher than the ratios observed in the earlier quarters of the year. This indicates that the company has taken on more debt relative to equity compared to the previous quarter.

Overall, while the debt-to-equity ratio of Comstock Resources, Inc. has shown fluctuations, it is important to closely monitor this ratio to assess the company's financial health and its ability to meet its debt obligations in the long run.